EverBank is a Florida-based financial institution that operates through both an online banking division and physical branches. The bank has several subsidiaries that offer various financial services in addition to banking, including wealth management, insurance, and commercial finance.
A high-yield checking and a business checking account are available on EverBank’s personal banking side. The high-yield checking account has a minimum initial deposit requirement, no monthly fees, and if a higher minimum balance is kept, unlimited ATM reimbursements. This checking account typically features one of the highest interest rates in the country in the checking category.
EverBank also offers a high-yield money market and Certificate of Deposit (CD) account to help consumers grow their savings. The money market account functions like a typical savings account and allows up to six withdrawals per month without a fee. The MMA has a very competitive interest rate and has no monthly fee, as well. CDs and IRA CDs are available in term lengths ranging from 3 months to 5 years and automatically rollover into a new CD at the end of a term. DepositAccounts.com has featured EverBank’s CDs repeatedly in the past, and in the summer of 2013 recognized the bank for its top-of-the-market 5-year CD rate. The bank also offers wealth management and brokerage services, as well as accounts that invest in precious metals.
EverBank online banking provides a sophisticated and secure platform for customers to perform account management tasks like paying bills, transferring funds, monitoring account activity, and checking account balances. The bank has also released a mobile banking app that makes it easy to perform these task on the run from a smartphone or tablet device.
EverBank is a publicly traded company (NYSE: EVER) that was originally established as First Alliance Bank with the FDIC in 1998. Shortly after being founded, the bank acquired Mercantile Bank’s world currency division in order to offer accounts that consist of foreign currencies. The bank is headquartered in Jacksonville, Florida, and operates several branches around the city as well as across the state of Florida.
I switched to Everbank from Wachovia about 5 years ago, and haven't entered a bank since. Couldn't be happier.
Free checking and savings accounts, easy online access, and I love mailing my checks in (using prepaid envelopes) rather than going to a bank to deposit them.
I've also used ING. Their online interface is slightly more user-friendly, and they make it very easy to set up different accounts for different savings goals. However, you still need a brick and mortar bank to use ING, because they don't accept deposits. Everbank supplies you with pre-paid envelopes to send in your checks.
ING does offer you free ATM withdrawals from select ATM's, which is nice. Everbank only reimburses you if you have $6,000 in your account.
I tried to open an account back in 2008. I finished the on-iine application but had some questions and decided to call them. It appeared they don't have customer service. Nobody picked up the phone. After three attempts I sent them email that I'm cancelling the application.
This bank has a problem in it's business ethics as far as backing out of oral contracts and offers and is a detriment to the economic growth in the Jax, Fl. area. I know personally 2 times jobs have been offered and verified and told to give notice to old jobs to then be told after the fact that they were withdrawing because of a reason that turned out to be not even legal. They are slowly adding to the unemployment in Jax by doing this and if I live in a different county and know this, how many people have they actually done this to? I'm not sure if a relative needed the job and they were slow in applying or what. It may be a moral problem but there is no ethics with morals, so.....
I certainly wouldn't feel right trusting them with my money as they treat people that poorly.
I have used EverBank since 2009, and never had anything than complete satisfaction. Anytime I phone them, they are very responsive, so polite and easy to work with. High interest rates (relatively) on deposits, pre-paid mail-in deposit slips, ATM fee refunds, all add up to a bank that is the polar opposite of the gouging practices of many of the major banks that I shall leave nameless. Add to that, that they are a pleasure to deal with, I highly recommend this bank.
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 EverBank had $299.44 million in non-current loans and owned real-estate with $1.73 billion in equity and loan loss allowances on hand to cover it. This gives EverBank a Texas Ratio of 17.35% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for EverBank decreased dramatically from 70.54% as of December 31, 2012 to 17.35% as of December 31, 2013, resulting in a positive change of 75.40%.This indicates that the balance sheet and financial strength for EverBank has improved dramatically in recent periods.
In the past year, EverBank has increased its total deposits by $144.98 million, resulting in 1.1% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth EverBank has shown is above average.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. EverBank has $17.64 billion in assets with $1.73 billion in equity, resulting in a capitalization level of 9.78%, which is above average.
|FDIC Certificate #||34775|
|Assets and Liabilities|
|Equity Capital||$1.66 billion|
|Loan Loss Allowance||$63.69 million|
|Unbacked Noncurrent Loans||$95.99 million|
|Real Estate Owned||$203.45 million|
|Historic Data - December 2012|
|Equity Capital||$1.52 billion|
|Loan Loss Allowance||$82.10 million|
|Unbacked Noncurrent Loans||$95.99 million|
|Real Estate Owned||$208.14 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.45%|
|Return on Assets||0.79%|
|Return on Equity||8.91%|
|Interest Income||$735.70 million|
Always verify rates and promotions with the bank or credit union. We are not EverBank, we are a rate comparison website and can not provide official rates or promotions.
|0.61%||-||-||Yield Pledge Savings|
|1.10%||-||$50k||Yield Pledge MMA - 6mo promo rate for new customers|
|0.86%||-||$50k||Yield Pledge Money Market - First Time Client (1st Yr)|
|0.61%||$1m||-||Business Money Market|
|0.61%||-||$10m||Yield Pledge Money Market - Ongoing Client|
|1.10%||-||$100k||Yield Pledge Checking - 6mo promo rate for new customers|
|1.10%||-||$100k||Small Business Checking - 6mo promo rate for new customers|
|0.83%||$50k||$100k||Yield Pledge Checking - First Time Client (1st Yr)|
|0.83%||$50k||$100k||Small Business Checking - First Time Client (1st Yr)|
|0.61%||$1m||-||Business Interest Checking|
|0.61%||$100k||$10m||Yield Pledge Checking - Ongoing Client|
|0.61%||$100k||$10m||Small Business Checking - Ongoing Client|
|2.10%||$1,500||-||5 Year Yield Pledge CD|
|2.10%||$1,500||-||5 Year Business CD|
|1.62%||$1,500||-||4 Year Yield Pledge CD|
|1.62%||$1,500||-||4 Year Business CD|
|1.14%||$1,500||-||3 Year Yield Pledge CD|
|1.14%||$1,500||-||3 Year Business CD|
|0.95%||$10k||$5m||3 Year CDARS CD|
|0.95%||$10k||$5m||3 Year Business CDARS CD|
|0.90%||$1,500||-||2.5 Year Yield Pledge CD|
|0.90%||$1,500||-||2.5 Year Business CD|
|0.85%||$1,500||-||2 Year Yield Pledge CD|
|0.85%||$1,500||-||2 Year Business CD|
|0.66%||$1,500||-||1 Year Yield Pledge CD|
|0.66%||$1,500||-||1.5 Year Yield Pledge CD|
|0.66%||$1,500||-||1 Year Business CD|
|0.66%||$1,500||-||1.5 Year Business CD|
|0.49%||$10k||$5m||2 Year CDARS CD|
|0.49%||$10k||$5m||2 Year Business CDARS CD|
|0.36%||$1,500||-||9 Month Yield Pledge CD|
|0.36%||$1,500||-||9 Month Business CD|
|0.35%||$1,500||-||6 Month Yield Pledge CD|
|0.35%||$1,500||-||6 Month Business CD|
|0.34%||$1,500||-||3 Month Yield Pledge CD|
|0.34%||$1,500||-||3 Month Business CD|
|0.24%||$10k||$5m||1 Year CDARS CD|
|0.24%||$10k||$5m||1 Year Business CDARS CD|
|0.22%||$10k||$5m||6 Month CDARS CD|
|0.22%||$10k||$5m||6 Month Business CDARS CD|
|0.21%||$10k||$5m||3 Month CDARS CD|
|0.21%||$10k||$5m||3 Month Business CDARS CD|
|2.10%||$1,500||-||5 Year Yield Pledge IRA (Traditional,Roth)|
|1.62%||$1,500||-||4 Year Yield Pledge IRA (Traditional,Roth)|
|1.14%||$1,500||-||3 Year Yield Pledge IRA (Traditional,Roth)|
|0.90%||$1,500||-||2.5 Year Yield Pledge IRA (Traditional,Roth)|
|0.85%||$1,500||-||2 Year Yield Pledge IRA (Traditional,Roth)|
|0.66%||$1,500||-||1 Year Yield Pledge IRA (Traditional,Roth)|
|0.66%||$1,500||-||1.5 Year Yield Pledge IRA (Traditional,Roth)|
|0.36%||$1,500||-||9 Month Yield Pledge IRA (Traditional,Roth)|
|0.35%||$1,500||-||6 Month Yield Pledge IRA (Traditional,Roth)|
|0.34%||$1,500||-||3 Month Yield Pledge IRA (Traditional,Roth)|