Banking News
- EverBank announces termination of NetBank acquisition agreement
Date: 19-Sep-2007 Sources: (People's Daily)
EverBank Financial Corp. announced Monday that it has terminated its agreement to acquire NetBank's consumer deposit accounts, business finance division and other assets under the transaction announced on May 21.
This decision comes after it became clear that NetBank would not be able to complete certain conditions required to receive regulatory approval.
The acquisition of NetBank's mortgage servicing portfolio which was announced at the same time was completed on July 1 -- bringing EverBank's total mortgage servicing portfolio to over 40 billion dollars.
Earlier this year, EverBank completed several acquisitions to bolster its commercial lending capabilities in the small-balance commercial real estate lending marketplace and to expand its presence in the reverse mortgage arena.
EverBank Financial Corp. is a private financial services holding company headquartered in Jacksonville, Florida. With approximately 4.7 billion dollars in assets, 1,500 employees, and over 400,000 customers nationwide, EverBank is one of the U.S. fastest growing, high performing financial services firms.
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