Jacksonville, FL – EverBank Financial Corp.®, one of the nation’s largest privately-held financial services firms, today announced the successful completion of its acquisition of Tygris Commercial Finance Group, Inc., a commercial finance and leasing company that provides product financing solutions to business customers originated through select dealers, distributors, and manufacturers in the healthcare, office equipment, and technology markets across the U.S.
The addition of Tygris to the EverBank Family of Companies expands the bank’s product offering and provides access to more than $470 million in additional capital. EverBank now has approximately $1 billion in total capital, with Tier 1 (core) capital and risk based capital ratios of approximately 10% and 18%, respectively. The Tygris acquisition provides EverBank with substantial growth capital to continue to offer high-credit-quality residential loans, retail deposit products and specialized financing as well as pursue other strategic acquisition opportunities.
“We are very pleased to welcome Tygris into the EverBank family and are excited to align ourselves with an industry leader who is equally committed to providing exceptional financial solutions to our customers. Their disciplined approach to underwriting and commitment to innovation is a natural fit with EverBank’s culture and business philosophy,” said Rob Clements, Chairman and CEO of EverBank Financial Corp. “Commercial customers will benefit from having a stable, competitive, service-driven source of equipment financing in a marketplace that has seen unparalleled dislocation over the last several years,” added Mr. Clements.
Tygris will operate as a division of EverBank based in Parsippany, NJ. The bank expects to fully complete the integration of Tygris’ products and brands by the first half of 2010.
About EverBank Financial Corp:
EverBank Financial Corp., and its EverBank subsidiaries, is a privately-held thrift holding company headquartered in Jacksonville, Florida offering innovative banking, lending, leasing and investment products and services of exceptional value. The company’s balanced mortgage banking, deposit banking and leasing platforms provide diverse revenue streams with proven success in a variety of market conditions. The company has nearly $8.0 billion in assets and over $6.3 billion in deposits. For more information on the EverBank Family of Companies, log on to EverBank.com
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