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EverBank, the largest Florida-based bank by deposits, in 'advanced negotiations' to sell

 
Published July 26, 2016

Jacksonville-based EverBank Financial Corp., the largest bank based in Florida by deposits, confirmed this morning that it is in advanced negotiations" to sell itself to an undisclosed bidder.

The prospective buyer is considering paying $19.50 a share along with payments to holders of preferred stock, EverBank said in a statement.

"There can be no certainty that these negotiations will result in a definitive agreement or that the terms will not vary from those currently under discussion or that the review of EverBank Financial Corp's other strategic alternatives will result in any action," the statement said. "The company does not intend to make any additional comments or statements regarding these matters until such time, if at all, that it has reached a definitive agreement for a transaction."

The confirmation came a day after a Bloomberg financial news report that a deal was in the works, driving EverBank's stock up 13 percent.

The bank, which has $27.4 billion in deposits, is largely web-based with relatively few branches, so the impact of a sale may loom largest in its downtown Jacksonville headquarters. According to the Jacksonville-based Florida Times-Union, 1,624 of the bank's 2,963 workers are in Jacksonville.

In the bay area, EverBank operates a financial center in Clearwater and a home lending office in Tampa.