EverBank

Infobox_Company
company_name = EverBank
company_
company_type = Private
foundation = Jacksonville, Florida (1998)

location = Jacksonville, Florida
key_people = Robert M. Clements, CEO, W. Blake Wilson, Gary A. Meeks
industry = Finance and Insurance
products = Banking
homepage = [http://www.everbank.com www.everbank.com]

EverBank is a diversified financial services company based in Jacksonville, Florida, providing banking, mortgage banking, and investing solutions to a nationwide customer base. It operates through standard banking offices, and through its Direct Banking division. EverBank Direct operates by telephone, mail, and over the Internet. As of May 28, 2008 EverBank had $6 billion in total assets.

History

While the roots of EverBank stretch back to 1962, the current incarnation was formed in 1994 when Chairman Robert Clements led an investor group in acquiring Jacksonville, Florida–based Alliance Mortgage Company. Under the leadership of Rob Clements and Gary Meeks, Alliance Mortgage Company became a significant mortgage originator and servicer. In 1998, Alliance Mortgage Company formed First Alliance Bank in Jacksonville, Florida, and shortly thereafter acquired Marine National Bank, also of Jacksonville, Florida.

In parallel Frank Trotter, Rob Foregger, Vincent Amato, and David Galland led another investor group to found EverBank as a national direct-to-consumer bank. EverBank opened in January 2000 and quickly garnered recognition as an innovator in the direct-to-consumer marketplace.

The World Markets division of EverBank originated as a department of Mark Twain Bank, a small St. Louis, Missouri bank, that founded the WorldCurrency(sm) service in 1986. In April 1997 Mark Twain Bank was acquired by Mercantile Bank. EverBank acquired the world currency division from Mercantile Bank in April 1999. EverBank World Markets is still located in St. Louis, Missouri and provides certificate of deposit (CD) accounts in euros and other non–U.S. dollar currencies.

EverBank also has a brokerage affiliate called EverTrade Direct Brokerage that provides conventional stock, bond, and exchange-traded fund (ETF) broker services for buying and selling publicly traded securities.

On November 5, 2002, First Alliance Bank acquired EverBank and on February 2, 2004, the company took the name EverBank and EverHome for its consumer facing operations. Today EverBank is the largest bank headquartered in Jacksonville, Florida.

On April 23, 2007, EverBank announced the appointment of David Conover, to the position of Senior Vice President and Head of the EverBank Advisor Services Group (ASG).

On May 21, 2007, EverBank announced that it had reached an agreement that would have increased its asset base to approximately $7 billion, its deposit base to approximately $6 billion, and its customer base to over 550,000 through the acquisition of NetBank's direct banking and small business financing divisions and mortgage servicing portfolio. On 17 September 2007, Everbank announced that it was terminating this agreement, as NetBank had been unable to comply with provisions regarding certain cash levels, which NetBank had been unable to reach because in the 2007 subprime mortgage financial crisis it had been unable to sell investments for the necessary cash.

EverBank offers many products for the well-to-do clientele; one of their key products is a certificate of deposit that is FDIC insured up to 50 million dollars.

Community involvement

EverBank/EverHome Mortgage has sponsored 50 homes in the Jacksonville's Habitat for Humanity program (HabiJax), the highest of any corporation or organization in Jacksonville. Everbank employees also volunteered thousands of hours building homes for their fellow citizens.

"Daniel Memorial Inc." is Florida's oldest nonprofit child-service agency, helping thousands of at-risk youths annually. EverBank sponsors several events, including the yearly Volunteer Appreciation Luncheon and Annual Charity Golf Tournament. Daniel's School Supply Drive is held at EverBank locations throughout Jacksonville and EverBank employees and customers make generous contributions.

Everbank also supports several housing initiatives: "Operation New Hope" is committed to restoring Springfield, one of Jacksonville's most historic neighborhoods; the "Housing Partnership of Northeast Florida" assists hundreds of low and middle income families with home repair, homeownership education, credit counseling and refinancing mortgages for victims of predatory lending; by helping provide safe and affordable rental housing to people with disabilities, "Grove House" has successfully helped hundreds of well-deserving individuals and families.

External links

* [http://www.everbank.com EverBank's Website]
* [http://www2.fdic.gov/idasp/main_bankfind.asp Search for Bank Profile at the FDIC]
* [http://www2.fdic.gov/idasp/confirmation_outside.asp?inCert1=34775 Bank Profile at the FDIC (Cert. 34775)]
* [http://www2.fdic.gov/sod/sodInstBranchRpt.asp?rCert=34775 Summary of deposits]