JACKSONVILLE, FL -- 11/05/09 --
EverBank® Financial Corp. today
announced third-quarter net income of $15.7 million, a 197% increase from
$5.3 million in the third quarter of 2008 and a 37% increase over the $11.5
million recorded in the second quarter of 2009. Earnings benefitted from
strong mortgage banking results and attractive mortgage asset portfolio
returns. Assets grew to $7.7 billion and deposits grew to $6.1 billion,
representing 18% and 36% increases, respectively.
"Our third-quarter results reflect the full impact of our 2008-2009
capital deployment initiative while further demonstrating the benefit of
our diversified business model," said Rob Clements, Chairman and CEO of
EverBank Financial Corp. "We look forward to continued growth as a result
of our impending Tygris acquisition and the opportunity to deploy $535
million in capital towards lending and deposit expansion and additional
acquisitions." Last week, EverBank announced it had reached a definitive
agreement to acquire Tygris Commercial Finance Group, Inc., a
stock-for-stock transaction that will increase EverBank's capital base by
approximately $470 million, and is expected to have a positive impact on
earnings. EverBank's capital position will be significantly enhanced upon
consummation of the acquisition, resulting in expected Tier 1 (core)
capital and risk based capital ratios of approximately 11% and 19%,
respectively. The acquisition agreement also includes a $65 million
pre-acquisition cash investment by Tygris into EverBank designed to provide
EverBank with growth capital prior to the consummation of EverBank's
acquisition of Tygris.
About EverBank Financial Corp.:
EverBank Financial Corp. is a private financial services holding company
headquartered in Jacksonville, Florida. With approximately $7.7 billion in
assets, $6.1 billion in deposits, over 1,700 employees, and over 450,000
customers nationwide, EverBank is one of the industry's fastest growing,
high performing financial service firms.
EverBank provides national banking and lending products directly to
consumers and through a variety of business partners. EverBank has received
numerous awards including Forbes and Online Banking Report's "Best of the
Web," Kiplinger's Personal Finance magazine's "Best Checking Account" as
well as other servicing, banking, and technology honors.
For more information on the EverBank Family of Companies, log on to
EverBank.com.
EverBank, the EverBank Infinity Sphere and the EverBank logo are
proprietary service marks of EverBank. All rights reserved.
For details call:
703.683.5004
Peter Robbio (ext. 116)
Kari Scott (ext. 128)
