EverBank Financial and its subsidiaries provide a range of financial services including banking, investment services, lending, commercial financing, and mortgage servicing. Its EverBank subsidiary offers community banking from more than a dozen branches in Florida. The bank's wholesale lending division provides loan products to mortgage brokers nationwide while its Everhome Mortgage subsidiary services a nearly $60 billion home loan portfolio. EverBank Direct provides online banking and brokerage. EverBank's Advisor Services arm allows financial planners and investment professionals to offer banking services to their clients. EverBank Financial also has units devoted to wealth management and commercial finance.
EverBank Financial filed for an IPO in 2010 and went public in 2012. The company raised more than $190 million in the offering; proceeds will be used for general corporate purposes. It's the latest transformational maneuver for EverBank Financial, which has been growing at a rapid pace.
Headquartered in Jacksonville, Florida, EverBank serves clients through its local branches, but also reaches customers on a broader level through websites, over the phone, and through the mail.
EverBank expanded its financing and leasing activities -- as well as its asset sheet -- with the 2010 acquisition of commercial lender Tygris (renamed EverBank Commercial Finance). Later that year the company acquired the three failed banking subsidiaries of Bank of Florida in an FDIC-assisted transaction. The deal expanded EverBank's reach into South Florida and the Tampa Bay area. EverBank plans to continue to take advantage of the unsteady environment in the community banking sector and snatch up struggling smaller banks. Gains from the 2010 acquisitions, along with an increase in loan volume, contributed to higher revenues and income for the company that year.
In 2012 EverBank continued to grow, acquiring MetLife Bank's warehouse finance business. The deal boosted and diversified EverBank's lending capabilities and increased its assets by $400 million. Also in 2012 EverBank announced plans to grow its commercial real estate lending operations by acquiring Business Property Lending from General Electric Capital Corporation for more than $2.5 billion. The deal will enhance EverBank's ability to lend to small and midsized companies. – less