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EverBank Takes Over Bank Of Florida
EverBank Financial, which counts wealth management
and private banking among its services, has announced
the acquisition of the
Bank of Florida, effectively bringing its total assets to
$11.5 billion.
In an agreement with the
Federal Deposit Insurance Corporation, EverBank will assume
deposits worth around $1.2 billion, loans of $1.2 billion, and
about $1.5 billion in assets. All loans acquired in the
transaction are subject to loss sharing agreements with the FDIC,
the bank said in a release.
"We look forward to welcoming our new customers when the Bank of
Florida locations open as branches of EverBank," said
Rob Clements, chairman and chief executive officer of the
company. "We anticipate customers will be pleased to find that
100 per cent of their deposits will remain safe and
secure."
EverBank's acquisition of Bank of Florida businesses to
EverBank expands its network in the US and further increases
its penetration in the Miami, Naples, and Tampa Bay areas, where
it already has an existing operation.
Former depositors of the Bank of Florida are depositors of
EverBank with immediate effect.
