EverBank Company Research Report

Company Overview

Name: EverBank, N.A.

Mission of the Company: EverBank is dedicated to providing clients with financial advantages they expect and deserve by offering high-value products and services to consumer and commercial clients nationwide.

Founded: No information is available.

Founder(s): No information is available.

Key People: Trevor Lawrence (Brand Ambassador), Maureen Carr (Leader of Corporate Asset Finance Division)

Headquarters: Florida

Number of Employees: No information is available.

Revenue: No information is available.

Known For: EverBank is known for providing high-yield, competitive, and award-winning banking solutions and services.

Products

Personal Banking: Offers award-winning high-yield accounts with digital solutions.

Features:

No monthly account fee.

No minimum balance requirements.

Mobile and online access.

Business Banking: Provides beyond-basic business banking solutions.

Commercial Financing: Offers specialized financing solutions to meet complex business needs, with a focus on flexibility and expertise.

EverBank Performance℠ Accounts:

Savings: High-yield account with easy mobile and online access.

Money Market: Recognized as one of the best by GOBankingRates for 2024.

CDs (Certificates of Deposit): Award-winning for impressive rates.

Checking: Offers competitive rates and ATM reimbursements, five-star rated by The Ascent.

Recent Developments

Acquisitions and Partnerships:

October 24, 2024: Announced acquisition of Life Premium Finance Unit of Primis Bank.

September 16, 2024: Entered into a stock purchase agreement to acquire Sterling Bank & Trust, FSB.

New Divisions and Teams:

October 23, 2024: Launched a new Corporate Asset Finance Division.

August 19, 2024: Launched a new Asset-Backed Finance Division.

May 17, 2024: Introduced a new California Commercial Banking Team.

Brand and Market Initiatives:

September 12, 2023: Launched a modern brand focused on financial performance and advantages.

August 1, 2023: Transformed from TIAA Bank to EverBank post-acquisition by private investors.

Community Engagement and Sponsorships:

Annual Initiatives: Continued partnerships with Jacksonville Jaguars for community initiatives like financial literacy programs and youth empowerment events.

Sponsorship: Held naming rights for EverBank Stadium.

Internal Developments:

August 8, 2023: Announced a new Fund Finance Division and introduced new leaders to support it.

October 23, 2023: Welcomed new experienced hires to support the newly launched Fund Finance Division.

Key Features of Services and Products

Security and Safety:

FDIC insured deposits: Ensures deposits are automatically insured up to the legal limit.

Trusted security measures: Includes strong encryption methods, account number masking, two-factor authentication, real-time alerts, and fraud detection.

Digital and Mobile Banking:

Award-winning digital tools for easy management and access to accounts.

Mobile check deposits to provide convenience to customers.

Community Development:

EverBank Builds program focused on financial education and community empowerment.

Summary

EverBank positions itself as a specialty bank offering a range of high-value financial products and services with a strong emphasis on performance and security. This aligns with their goal of providing distinct financial advantages to its clientele. Recent strategic moves have included acquisitions to grow their financial capabilities and a brand relaunch to enhance their market presence. The bank also actively engages with communities through sponsorships and programs aimed at social betterment.