EverBank Explores Sale Three Years After Private‑Equity Acquisition
EverBank, a Florida‑based online lender that operates primarily as a digital bank with several dozen branches in Florida and California, announced that it is actively exploring a sale. The bank, which held approximately $47 billion in assets and $38 billion in deposits as of mid‑2024, ranks as the 57th‑largest bank holding company in the United States.
The potential sale follows the 2023 acquisition of EverBank by a consortium of five private‑equity firms—Stone Point Capital, Warburg Pincus, Reverence Capital Partners, Sixth Street and Bayview Asset Management. The consortium purchased the bank from the pension fund TIAA; the transaction price was not disclosed.
According to a Wall Street Journal report, the sales process has been ongoing for several months. EverBank indicated that, should it be unable to secure a buyer, it would consider an initial public offering (IPO) as an alternative exit route.
Regulatory context: Earlier in the year, the Federal Deposit Insurance Corporation (FDIC) adjusted its rules to make it easier for private‑equity investors to acquire stakes in failed banks, potentially influencing the strategic options available to EverBank’s owners.
Brand and sponsorship details: EverBank sponsors the Jacksonville Jaguars stadium and maintains a brand partnership with quarterback Trevor Lawrence.