EverBank Announces Termination of NetBank Acquisition Agreement

09/17/2007

Jacksonville, FL - EverBank^® Financial Corp announced today that it has terminated its agreement to acquire NetBank's consumer deposit accounts, business finance division and other assets under the transaction announced on May 21, 2007. This decision comes after it became clear that NetBank would not be able to complete certain conditions required to close and receive regulatory approval.

"Through the summer EverBank has stood ready to complete the acquisition as proposed and we are disappointed that the transaction was unable to be consummated," said EverBank Financial Corp Chairman Robert Clements," but with an earnings growth of 11% over the first half of 2007, over $4.7 billion in prime assets, a strong capital base and ample liquidity, EverBank remains in a strong position to take advantage of many other growth and acquisition opportunities that exist in this market."

The acquisition of NetBank's mortgage servicing portfolio which was announced at the same time was completed on July 1, 2007 - bringing EverBank's total mortgage servicing portfolio to over $40 billion.

Earlier this year, EverBank completed several acquisitions to bolster its commercial lending capabilities in the small-balance commercial real estate lending marketplace and to expand its presence in the reverse mortgage arena.

EverBank provides high value banking, mortgage, and investing opportunities to a nationwide customer base. The company has a broad national online banking presence, diversified asset generation capabilities, and a deep mortgage servicing and mortgage production operation. EverBank does not originate or own sub-prime or exotic loan types. As a result, EverBank reported net loan charge offs of only 0.03% in the first half of the year, which were among the lowest in the industry.

Inquiries related to the NetBank agreement termination can be directed to Peter Robbio at 703.683.5004, extension 116.