TIAA Bank is new name after merger with TIAA Direct
Jacksonville-based EverBank Financial Corp. becomes TIAA Bank after its merger with TIAA Direct.
A spokeswoman for EverBank said the announcement was sent first to employees and customers Friday and that a larger “celebration” of the merger would be planned later.
TIAA Bank also is likely to become the name on the buildings Downtown that were leased or sponsored by EverBank – its headquarters at 501 Riverside Ave., its operations center at 301 W. Bay St. and the city-owned stadium used by the Jacksonville Jaguars.
For the 2018-19 NFL season, the team announced Friday it will play at TIAA Bank Field – a change subject to league and City Council approval. It has been EverBank Field.
“We’re excited for our relationship with EverBank to not only continue, but grow under the new name of TIAA Bank,” Jaguars President Mark Lamping said Friday in a statement.
He said EverBank has “been a fantastic corporate partner for many years, sharing our mutual commitment to the betterment of the First Coast community. We’re grateful for their long-term commitment to the Jaguars and to the city of Jacksonville.”
EverBank Financial signed a naming rights deal for the city’s NFL stadium in 2010 and agreed to a 10-year, $43 million extension in 2014.
The team said the deal won’t be impacted.
TIAA Direct, previously known as TIAA-CREF Trust Co., FSB, is headquartered in St. Louis.
According to the EverBank website, the bank’s legal name will continue to be TIAA, FSB.
Teachers Insurance and Annuity Association of America acquired EverBank in June for $2.5 billion or $19.50 per share.
The Downtown Development Review Board approved the change Thursday for the 30-story EverBank Center on West Bay Street, but without the actual name in the documents.
A placeholder name was used for conceptual renderings to shield the new name before Friday’s announcement.
The signage will feature a new logo and lettering, exchanging the red and black used in the current signs for different shades of blue.
The TIAA spokeswoman had no further comment about when the bank would apply to alter the name at 501 Riverside Ave.
New York-based TIAA was formed by the Carnegie Foundation in 1918 to provide a retirement system for teachers. It continues to operate as a not-for-profit company focusing on financial services for people in the academic, research, medical, cultural and government fields.