EverBank reports record results in 2008

03/23/2009

Jacksonville, FL - EverBank^® Financial Corp today announced record net income for 2008 of $46.0 million, a 52% increase from 2007. Earnings include the impact of the company's sale of EverBank Reverse Mortgage and other discontinued businesses. After completing a capital raise in mid 2008, the company successfully embarked on a number of key growth initiatives. EverBank's assets grew by 28% during the year to over $7.0 billion. Deposits grew 29% during the year, an increase of $1.1 billion and the largest annual deposit growth in company history to over $5.0 billion.

“We are pleased that the initiatives we executed in 2008 generated such strong results,” said Robert Clements, Chairman and CEO. “EverBank produced solid earnings and growth in its core businesses while successfully strengthening its capital and liquidity positions and significantly increasing its credit reserves. Though the credit environment continues to create challenges even for healthy banks like EverBank, we believe the investments and initiatives from 2008 have positioned the company for continued success.”