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- 2014 - May - 23rd -

EverBank fundamentals ‘never been stronger’

By Mark Basch, Contributing Writer

EverBank Financial Corp. went through a transformational year in 2013, but it was also a successful year. That’s the message Chairman and CEO Rob Clements gave shareholders Thursday at the company’s annual meeting in the Downtown EverBank Center.

“Across the board our lending and banking businesses performed well in 2013,” he said. “The fundamentals of the business have never been stronger.”

The transformation included exiting “non-core businesses,” he said. The most visible of those moves was EverBank’s sale of some its mortgage servicing business to Green Tree Servicing LLC.

The deal, which was announced last fall and completed in March, called for EverBank to transfer the servicing of mortgage loans with a higher delinquency profile to Green Tree.

As part of the deal, 500 EverBank employees were transferred to Green Tree, and Minnesota-based Green Tree took over three of EverBank’s 11 floors of space in the EverBank Center.

“We were fortunate to find a partner in Green Tree who valued our platform,” Clements said in an interview after the meeting.

After its transformation in 2013, Clements said EverBank has a strong balance of residential mortgage and commercial lending.

“We feel very good about our current business mix,” he said.

EverBank will now be looking to grow those businesses.

“We’ve never felt better about how the company is positioned for strong organic growth,” Clements said.

However, while the company expects to grow organically from its current businesses, Clements wouldn’t rule out the possibility of another deal in 2014.

“We always look at opportunities that might fit well with our business,” he said.

mbasch@baileypub.com

(904) 356-2466

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