EverBank is a consumer banking, loan and investing company based in Jacksonville, Fla. EverBank accounts come in two general forms. Their standard banking division uses traditional accounts accessed through traditional branches. EverBank Direct Banking operates online, by mail and by telephone. Customers with using either type of account can reach Bank customer service by Internet, mail or telephone.
The roots of EverBank begin in 1961 with the acquisition of the Alliance Mortgage Company by an investment group headed by Robert Clements. Alliance Mortgage continued to operate relatively unchanged until 1998 when the First Alliance Bank opened as a division of the mortgage company.
In 2000, another investment group founded EverBank. EverBank accounts and bank customer service was based on a national direct-to-consumer model. Early on, EverBank formed two additional divisions. One is EverBank World Markets near St. Louis. This division sells CDs in foreign currencies. The second is EverTrade Direct Brokerage.
In 2002, First Alliance Bank acquired EverBank and kept the EverBank name for all consumer-banking services.
In 2010, EverBank announced a major acquisition, purchasing the Bank of Florida. This acquisition brought EverBank's total assets to over $11 billion.
EverBank is the largest bank based in Jacksonville, Fla. They are active in the community and contribute over $1 million per year to the local Habitat for Humanity program. The bank currently employs approximately 2,300 people and has around 600,000 customers. The total deposits held by EverBank are $9.7 billion, and the total assets of the company are $12 billion. Everbank's net income in 2010 was $188.9 million.
Standard EverBank accounts are only the beginning of the personal banking services offered to consumers. Types of EverBank accounts available include interest bearing checking, high-yield savings, high-yield money market, CDs and credit card accounts.
EverBank calls its interest bearing account Yield Pledge Checking. The account has a minimum opening deposit of $1,500, but no minimum balance requirements. Overdraft protection is available on the account, and the bank reimburses ATM fees to the account holder. Online banking and mobile banking come with the account free-of-charge.
Savings and Money Market
The EverBank Yield Pledge Savings account and Yield Pledge Money Market account are very similar to the Yield Pledge Checking account. A $1,500 opening deposit is required, and it has no minimum balance requirements to earn interest; however, the savings account has an IRA option.
EverBank is a financially secure national bank with several account options and bank customer service that they back with a $50 satisfaction guarantee. If a customer is not satisfied with service, they can close their account and receive a check for $50.