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August 28, 2015 5:14 AM ET

Thrifts and Mortgage Finance

Company Overview of EverBank Financial Corp.

Company Overview

EverBank Financial Corp, a savings and loan holding company, provides various financial products and services to individuals and small and mid-size businesses in the United States. It operates in three segments: Consumer Banking, Commercial Banking, and Corporate Services. Its deposit products include noninterest-bearing and interest-bearing demand deposits, savings and money market accounts, and time deposits. The company’s loan products portfolio comprises residential mortgage loans, owner-occupied commercial real estate, commercial investment properties, asset-backed commercial, and small business commercial loans; equipment financing receivables; home equity lines; and personal loans, cr...

501 Riverside Avenue

Jacksonville, FL 32202

United States

3,100 Employees

Phone:

904-281-6000

Key Executives for EverBank Financial Corp.

Chairman and Chief Executive Officer
Age: 52
Total Annual Compensation: $750.0K
President, Chief Operating Officer and Director
Age: 49
Total Annual Compensation: $650.0K
Chief Financial Officer and Executive Vice President
Age: 46
Total Annual Compensation: $370.0K
Chief Risk Officer and Executive Vice President
Age: 53
Total Annual Compensation: $283.9K
Executive Vice President of Corporate Development
Age: 43
Total Annual Compensation: $385.0K
Compensation as of Fiscal Year 2014.

EverBank Financial Corp. Key Developments

EverBank Financial Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Net Charge-Offs for the Second Quarter of 2015

EverBank Financial Corp. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. Adjusted net income available to common shareholders was $43.9 million for the second quarter 2015, compared to $39.1 million for the first quarter 2015 and $34.4 million for the second quarter 2014. Adjusted diluted earnings per common share in the second quarter 2015 were $0.35 compared to $0.31 in the first quarter 2015 and $0.27 in the second quarter 2014. GAAP net income available to common shareholders was $39.0 million for the second quarter 2015, compared to $11.7 million for the first quarter 2015 and $32.3 million for the second quarter 2014. GAAP diluted earnings per share in the second quarter 2015 were $0.31 compared to $0.09 in the first quarter 2015 and $0.26 in the second quarter 2014. Adjusted return on average equity was 10.7% for the quarter and GAAP ROE was 9.5%. Tangible common equity per common share increased 8% year over year to $13.00 at June 30, 2015. Revenue for the second quarter of 2015 was $253 million, an increase of $65 million, or 35%, from $188 million in the first quarter of 2015. Excluding the change in valuation allowance on mortgage servicing rights in the first and second quarters of 2015, revenue would have been $237 million, an increase of 3% compared to the prior quarter. Net interest income was $169 million for the second quarter of 2015, an increase of $14 million, or 9%, compared to the prior quarter. This increase resulted from a $1.5 billion, or 7%, increase in average interest-earning assets compared to the prior quarter, driven by higher average commercial loans and leases HFI in addition to higher average residential mortgage loans HFI and average loans HFS, partially offset by a $1.1 billion, or 6%, increase in average interest-bearing liabilities. Income before provision for income taxes was $66,939,000 against $56,016,000 a year ago. Return on average assets was 0.72% against 0.74% a year ago. Return on average was risk-weighted assets was 1.10% against 1.15% a year ago. Return on average equity was 9.5% against 8.6% a year ago. Adjusted return on average equity was 10.7% against 9.1% a year ago. Tangible common equity per common share was $13.00 against $12.02 a year ago. For the six months, net interest income was $324,463,000, total interest income was $420,984,000 and net income allocated to common shareholders was $50,735,000 or $0.40 per diluted share against net interest income of $271,035,000, total interest income of $348,716,000 and net income allocated to common shareholders of $61,480,000 or $0.49 per diluted share for the same period a year ago. Income before provision for income taxes was $89,856,000 against $107,161,000 a year ago. Adjusted net earnings per common share, diluted was $0.66 against $0.49 a year ago. Return on average assets was 0.50% against 0.74% a year ago. Return on average was risk-weighted assets was 0.76% against 1.12% a year ago. Return on average equity was 6.3% against 8.2% a year ago. Adjusted return on average equity was 10.2% against 8.3% a year ago. Net charge-offs during the second quarter of 2015 were $5 million, a decrease of $2 million compared to the prior quarter.

EverBank Financial Corp. Declares Quarterly Cash Dividend on Common and 6.75% Series A Non-Cumulative Perpetual Preferred Stocks, Payable on August 21, 2015 and October 5, 2015, Respectively

On July 23, 2015, EverBank Financial Corp.'s Board of Directors declared a quarterly cash dividend of $0.06 per common share, payable on August 21, 2015, to stockholders of record as of August 11, 2015. Also on July 23, 2015, the Company's Board of Directors declared a quarterly cash dividend of $421.875, payable on October 5, 2015, for each share of 6.75% Series A Non-Cumulative Perpetual Preferred Stock held as of September 18, 2015.

EverBank Financial Corp. to Report Q2, 2015 Results on Jul 29, 2015

EverBank Financial Corp. announced that they will report Q2, 2015 results at 9:00 AM, Eastern Standard Time on Jul 29, 2015

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 29, 2015
$91.7 Million Asset Based Lending Loans Portfolio
Merger/Acquisition
April 29, 2015
EverBank Financial Corp., Mortgage Servicing Rights on $5.7 Billion Unpaid Principal Balance
Merger/Acquisition
February 6, 2015
8470 Belvedere LLC
 

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