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Jax Daily Record Thursday, Jun. 8, 201712:00 PM EST

TIAA approved to buy EverBank; deal expected to be completed Friday

by: Mark Basch Contributing Writer

Teachers Insurance and Annuity Association of America received its final regulatory approval to acquire Jacksonville-based EverBank Financial Corp. and the deal is expected to close Friday, EverBank said in a Securities and Exchange Commission filing.

Under the merger agreement signed in August, EverBank will merge with TIAA's bank subsidiary with the headquarters of the bank remaining in Jacksonville.

EverBank spokesman Michael Cosgrove said Thursday the companies have not decided on a name for the merged bank. That decision will also impact the name of Jacksonville’s football stadium, EverBank Field.

The final regulatory approval from the Federal Reserve Board came Wednesday, EverBank said in the SEC filing Thursday morning.

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