Jul 26 2016 19504 1 Largest Florida Bank Up For Sale

Jul 26 2016 19504 1 Largest Florida Bank Up For Sale

Largest Florida bank up for sale, report says

Jacksonville-based EverBank had $815 million in deposits in South Florida as of June 30, 2015, the most recent date the Federal Deposit Insurance Corp. has published data on. The bank's three South Florida offices are located in Boca Raton, Coral Gables and Fort Lauderdale.

That puts the bank as No. 30 among banks with South Florida deposits. EverBank controlled 0.39 percent of deposits in the tri-county — significantly less than Miami Lakes-based BankUnited, which controlled $10.5 billion, or 5.1 percent of the market at the same time.

BankUnited has a distinct advantage over EverBank in South Florida because it is a locally based bank. However, if EverBank is sold to an out-of-state entity, then BankUnited would by default become the largest South Florida-based bank. An EverBank sale would also send a message that merger and acquisition activity is still very much alive in Florida and possible for banks of any size.

Five years ago there were 243 Florida-based banks. As of March 31, there were just 152 banks based in the Sunshine State.

Link to Original Article 

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Phone: 561-951-3759
Dated: July 26th 2016
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