2.5 star ratingAverage User Rating:
2.5 star rating based on 7 reviews.

EverBank

EverBank Locations
501 Riverside Ave.
Jacksonville, FL 32202
888.882.EVER (3837)
www.everbank.com
Open a Savings Account
Open a Checking Account

FDIC

EverBank is headquartered in Jacksonville and is the largest bank in the state of Florida. It is also the 65th largest bank in the nation. It was established in 1998 and as of December of 2012, it had grown to 3,632 employees at 20 locations. EverBank's money market rates are 2X the national average, and it has a 4-star health rating.

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In the last few months we have been seeing more internet banks offering savings and money market accounts with yields of around 1.00%. These rates are low compared to the good old days, but in today's ...

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See Rates for: Checking | Savings | Money Market | CD | IRA

EverBank Checking Account Rates

ApyMinMaxProduct
1.01%$100k$10mYield Pledge Checking
Start SavingSponsored Note: No Hidden Account or Debit Fees.
0.76%$1m-Business Interest Checking

EverBank Savings Account Rates

ApyMinMaxProduct
0.76%--Yield Pledge Savings

EverBank Money Market Rates

ApyMinMaxProduct
1.01%-$50kYield Pledge Money Market
Start SavingSponsored Note: 1.25% Bonus Rate for the first 6 months (1) 1.01% 1st-year APY up to $50K (1) Earn a top 5% yield-Always (2)
0.76%$1m-Business Money Market

EverBank CD Rates

ApyMinMaxProduct
1.61%$1,500-5 Year Yield Pledge CD
1.61%$1,500-5 Year Business CD
1.33%$1,500-4 Year Yield Pledge CD
1.33%$1,500-4 Year Business CD
1.05%$1,500-2.5 Year Yield Pledge CD
1.05%$1,500-3 Year Yield Pledge CD
1.05%$1,500-2.5 Year Business CD
1.05%$1,500-3 Year Business CD
0.85%$1,500-2 Year Yield Pledge CD
0.85%$1,500-2 Year Business CD
0.74%$1,500-1.5 Year Yield Pledge CD
0.74%$1,500-1.5 Year Business CD
0.65%$1,500-1 Year Yield Pledge CD
0.65%$1,500-1 Year Business CD
0.63%$10k$5m3 Year CDARS CD
0.63%$10k$5m3 Year Business CDARS CD
0.60%$1,500-9 Month Yield Pledge CD
0.60%$1,500-9 Month Business CD
0.59%$1,500-6 Month Yield Pledge CD
0.59%$1,500-6 Month Business CD
0.46%$1,500-3 Month Yield Pledge CD
0.46%$1,500-3 Month Business CD
0.40%$10k$5m2 Year CDARS CD
0.40%$10k$5m2 Year Business CDARS CD
0.28%$10k$5m1 Year CDARS CD
0.28%$10k$5m1 Year Business CDARS CD
0.26%$10k$5m6 Month CDARS CD
0.26%$10k$5m6 Month Business CDARS CD
0.25%$10k$5m3 Month CDARS CD
0.25%$10k$5m3 Month Business CDARS CD

EverBank IRA Rates

ApyMinMaxProduct
1.61%$1,500-5 Year Yield Pledge IRA
Start SavingSponsored Note: High yields, and greater convenience at EverBank.
1.61%$1,500-5 Year Yield Pledge Roth IRA
Start SavingSponsored Note: High yields, and greater convenience at EverBank.
1.33%$1,500-4 Year Yield Pledge IRA
Start SavingSponsored Note: High yields, and greater convenience at EverBank.
1.33%$1,500-4 Year Yield Pledge Roth IRA
Start SavingSponsored Note: High yields, and greater convenience at EverBank.
1.05%$1,500-2.5 Year Yield Pledge IRA
Start SavingSponsored Note: High yields, and greater convenience at EverBank.
1.05%$1,500-3 Year Yield Pledge IRA
Start SavingSponsored Note: High yields, and greater convenience at EverBank.
1.05%$1,500-2.5 Year Yield Pledge Roth IRA
Start SavingSponsored Note: High yields, and greater convenience at EverBank.
1.05%$1,500-3 Year Yield Pledge Roth IRA
Start SavingSponsored Note: High yields, and greater convenience at EverBank.
0.85%$1,500-2 Year Yield Pledge IRA
Start SavingSponsored Note: High yields, and greater convenience at EverBank.
0.85%$1,500-2 Year Yield Pledge Roth IRA
Start SavingSponsored Note: High yields, and greater convenience at EverBank.
0.74%$1,500-1.5 Year Yield Pledge IRA
Start SavingSponsored Note: High yields, and greater convenience at EverBank.
0.74%$1,500-1.5 Year Yield Pledge Roth IRA
Start SavingSponsored Note: High yields, and greater convenience at EverBank.
0.65%$1,500-1 Year Yield Pledge IRA
Start SavingSponsored Note: High yields, and greater convenience at EverBank.
0.65%$1,500-1 Year Yield Pledge Roth IRA
Start SavingSponsored Note: High yields, and greater convenience at EverBank.
0.60%$1,500-9 Month Yield Pledge IRA
Start SavingSponsored Note: High yields, and greater convenience at EverBank.
0.60%$1,500-9 Month Yield Pledge Roth IRA
Start SavingSponsored Note: High yields, and greater convenience at EverBank.
0.59%$1,500-6 Month Yield Pledge IRA
Start SavingSponsored Note: High yields, and greater convenience at EverBank.
0.59%$1,500-6 Month Yield Pledge Roth IRA
Start SavingSponsored Note: High yields, and greater convenience at EverBank.
0.46%$1,500-3 Month Yield Pledge IRA
Start SavingSponsored Note: High yields, and greater convenience at EverBank.
0.46%$1,500-3 Month Yield Pledge Roth IRA
Start SavingSponsored Note: High yields, and greater convenience at EverBank.

Rates updated: 5/22/2013

Data for Q4 2012


Institution Statistics


EverBank
OTS #15115
FDIC Certificate #34775
BankRate ReportView
Year Established1998
Employees3632
Primary RegulatorOCC

Assets and Liabilities

Assets$18.21 billion
Loans$14.51 billion
Deposits$13.20 billion
Equity Capital$1.52 billion
Loan Loss Allowance$82.10 million
Unbacked Noncurrent Loans$230.82 million
Real Estate Owned$208.14 million

Historic Data - December 2011

Assets$13.04 billion
Equity Capital$1.07 billion
Loan Loss Allowance$77.77 million
Unbacked Noncurrent Loans$330.82 million
Real Estate Owned$98.83 million

Profit Margin - Quarterly

Net Interest Margin3.78%
Return on Assets0.52%
Return on Equity6.35%
Interest Income$655.56 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio3
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, 2012 EverBank had $438.96 million in non-current loans and owned real-estate with $1.6 billion in equity and loan loss allowances on hand to cover it. This gives EverBank a Texas Ratio of 27.42% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for EverBank held steady from 24.12% as of December 31, 2011 to 27.42% as of December 31, 2012, resulting in a negative change of 13.67%. This indicates that the balance sheet and financial strength for EverBank has held steady in recent periods.
Deposit Growth5
In the past year, EverBank has increased its total deposits by $2.92 billion, resulting in 28.41% 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 excellent.
Capitalization3
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 $18.21 billion in assets with $1.6 billion in equity, resulting in a capitalization level of 8.79%, which is average.
Write Review

Have Been Using Them For 5 Years, Excellent Service
5 stars - sangre - Wednesday, November 23, 2011 - 11:15 AM

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.

9

I Tried To Open An Account Back In 2008
1 stars - Anonymous - Thursday, May 13, 2010 - 4:12 PM

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.

8

Ethical Problems
1 stars - campcop1 - Friday, December 7, 2012 - 10:56 AM

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.

7

Excellent Service And Competitive In Every Way
5 stars - SAPete - Friday, February 3, 2012 - 9:19 AM

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.

6

I've Been Impressed So Far, Excellent Customer Service!
5 stars - jdibella - Sunday, June 3, 2012 - 9:15 AM

I switched from Wells Fargo to EverBank and so far I have been impressed. I filled out my application online, printed it, faxed it in and mailed in my opening deposit. EverBank provided me with a FedEx account number to overnight my check to them. The account was opened in about two days. I setup my online account and accessed both personal and business checking accounts very quickly. I made my first iPhone deposits that night and everything was deposited the next day. 

Customer service has been great, something I wasn't used to as a former Wells Fargo customer. I received all the answers I needed and was very pleased with the information. The technology with the bank seems to be very good. The web interface for online banking takes a little getting used to, but after using it for a while now I have become accustomed to it. The EverOne feature is very neat, very similar to Mint.com.

I highly recommend EverBank to anyone in need of a checking account but doesn't have a need of withdrawing cash often or depositing cash. I keep an account with a local bank in case I never need to cash a check or deposit cash (rare) but overall EverBank provides me all that I need.

Be aware that Bill Pay is not free unless you keep an average daily balance of $5,000. I don't need this all that much and when I do I can simply use my local bank. Other than that, no fees whatsoever for my account. Thank you EverBank!

5

They Refused To Open My Account
1 stars - kelewele - Monday, April 8, 2013 - 7:02 PM

I was excited to see all the positive reviews this bank got on this site.  The rates looked good, and they seemed to have all the features I wanted.  I went through the entire online application process, filled and signed all the paperwork and sent it in by fax.  And nothing happened. 

I called to follow up and was told that Everbank has declined to open the account because my company has an affiliate abroad.  Duh, I run an export business.

Very disappointed, and would not recommend for international companies.  My search continues.

4

Incompetent And Rude Staff
1 stars - investor50 - Wednesday, May 22, 2013 - 4:43 PM

This bank is so fishy and rediculous. After I submited my application, they asked for extra documents no other bank requires. They expect you to compromise your security by mailing them your social security card!

Cooperating with them is also useless. I just never heard back from them and had to call them. Customer service is unhelpful and condescending. They said they couldn't verify my info, and they just dismissed me without explanation. I never had a problem with any other bank in the past or present. It just shows their sheer stupidity if it's true that their system couldn't verify my identity. Glad I didn't give them the large sum of $ I was going to put in their bank. I'm more than happy to take my business elsewhere. I already conviniently opened an account with another bank, without any of their nonsense. 

It was a waste of time to deal with their painful system that froze a few times. 

3
 
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