EverBank Buyout Confirmed
EverBank Financial Corp. announced on Monday (8/8) that the Jacksonville HQ’d bank would be bought by TIAA for $2.5B, or $19.50 per share. For several weeks there has been much talk and speculation surrounding the potential sale. TIAA, a financial services firm that was formed in 1918 by the Carnegie Foundation, also has a banking arm, which will soon be combined with EverBank. The company has stated that Jacksonville will serve as the headquarters for the combined bank, however further details regarding the new operations are unknown, including the new name of the combined entities. Additionally, many locals wonder if the Jaguars stadium will remain EverBank Field, or if it will be re-branded.