What is "everbank"

EverBank is an American diversified financial services company providing banking, mortgages, and investing services. It is based in Jacksonville, Florida, U.S. It operates through standard banking offices and through its Direct Banking division. EverBank Direct operates by telephone, mail, and over the Internet. As of September 30, 2015, EverBank had approximately $25.2 billion in total assets.

As of August 8, 2016 TIAA has reached a deal to buy EverBank for $2.5 billion in cash. This announcement comes around two weeks after EverBank stated it was in talks to be acquired. Breaking down the $2.5 billion sale, EverBank stockholders will receive $19.50 per share in cash.