EverBank, the Jacksonville-based online direct bank, was acquired by retirement giant TIAA in a deal that closed on June 12, 2017 - EverBank shareholders received $19.50 per share, about $2.5 billion in total. In June 2018, TIAA folded EverBank and its own TIAA Direct online bank into a single brand, renaming the combined institution TIAA Bank. The profile lower on this page dates from that TIAA Bank era.
EverBank Review
Last reviewed August 2026
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2017-2018: TIAA buys EverBank
2023: EverBank gets its name back
On August 1, 2023, TIAA completed the sale of TIAA Bank to a group of private investors - funds managed by Stone Point Capital, Warburg Pincus, Reverence Capital Partners, Sixth Street, and Bayview Asset Management - and the bank returned to its original EverBank name, operating independently under a national bank charter with headquarters still in Jacksonville, Florida. TIAA retained a non-controlling stake.
EverBank today
EverBank runs the same direct-banking playbook it helped pioneer: nationally marketed online savings and CD yields. It is one of the banks RateZip tracks continuously - see where its savings and CD offers stand right now in the tables on the RateZip Rate Index, alongside the rest of the tracked market.
Original profile
About
TIAA Bank is a financial services provider with $938 billion in assets. In the summer of 2017, TIAA acquired EverBank, broadly expanding their own services and clientele.
EverBank, headquartered in Jacksonville, Florida, was a national online direct banking leader and also operates a number of traditional banking branches. When it was acquired, it held approximately $27.8 billion in banking assets. Everbank Direct, the company's online division, has been distinguished in offering some of the most comprehensive and competitive online banking products over the years, including many unique certificates of deposit (CDs) and high yield savings accounts. EverBank Direct also offers competitive rates on consumer banking products such as home mortgages, reverse mortgages, home equity loans, reverse mortgages, money market accounts and many more products.
Everbank offered mortgages via its subsidiary Everhome Mortgage.
EverBank's roots date back to the 1960s, though the company that we know today was officially formed in 1994. The company grew steadily, and its acquisitions of NetBank (2007) and Bank of Florida (2010) helped EverBank significantly grow its assets and evolve into the large banking player that we know today. Though the bank operates a number of retail and lending branches, EverBank is still mostly known as an online lender. For example, the company does not operate any ATMs, though it does refund ATM fees in certain cases.
EverBank's mortgage division, known as EverHome Mortgage, is gaining market share in a number of interesting ways, including its involvement in the jumbo mortgage market. If you're looking for a fixed-rate, adjustable, or VA home loan, EverHome Mortgage is a great place to start.
Though EverBank is large and more national in scope, it does maintain a strong local presence in Florida. The company owns the naming rights to EverBank Field, the home of the National Football League's (NFL) Jacksonville Jaguars. Additionally, the bank is involved with Jacksonville's Habitat for Humanity and other charitable ventures.
This bank profile is not an endorsement or advertisement for the bank's products and services. RateZip is an independent publisher of bank information.
RateZip Rate Index
Today's top savings rates
| Bank | APY | As of |
|---|---|---|
| CIT Bank | 4.10% | 2026-08-14 |
| Poppy | 4.00% | 2026-08-14 |
| Western State Bank | 4.00% | 2026-08-14 |
Highest published savings APYs tracked by RateZip as of 2026-08-14 13:20 ET. See the full RateZip Rate Index →
Frequently asked questions
Is EverBank the same bank as TIAA Bank?
Yes. EverBank was renamed TIAA Bank in June 2018 after TIAA's 2017 acquisition, and the bank went back to the EverBank name on August 1, 2023, when TIAA sold it to private investors. It is the same underlying institution, still headquartered in Jacksonville, Florida.
Why did TIAA Bank change its name back to EverBank?
Because TIAA sold the bank. When the sale to a private investor group closed on August 1, 2023, the bank left the TIAA family and relaunched under its original EverBank brand with a new national bank charter.
Who owns EverBank now?
EverBank is owned by a group of private investment firms - Stone Point Capital, Warburg Pincus, Reverence Capital Partners, Sixth Street, and Bayview Asset Management - with TIAA retaining a non-controlling stake after the 2023 sale.
Sources
- https://www.housingwire.com/articles/40395-tiaa-finalizes-acquisition-of-everbank/ - HousingWire, June 2017: TIAA completed its acquisition of EverBank Financial Corp on June 12, 2017 - $19.50 per share, roughly $2.5 billion.
- https://www.americanbanker.com/news/tiaa-changes-name-of-everbank-to-tiaa-bank - American Banker, June 2018: TIAA renamed EverBank as TIAA Bank, unifying it with TIAA Direct.
- https://www.prnewswire.com/news-releases/tiaa-completes-sale-of-tiaa-bank-to-private-investors-bank-now-doing-business-as-everbank-301890490.html - TIAA press release, Aug 1, 2023: sale of TIAA Bank to private investors (Stone Point Capital, Warburg Pincus, Reverence Capital Partners, Sixth Street, Bayview Asset Management) completed; bank now doing business as EverBank; TIAA retains a non-controlling stake.
- https://www.everbank.com/about/news/08-01-23/tiaa-bank-begins-new-era - EverBank newsroom, Aug 1, 2023: TIAA Bank begins a new era as EverBank, headquartered in Jacksonville, FL.