Daily Record Financial News &
Tuesday, July 26, 2016
Vol. 103, No. 182 • One Section
35¢ www.jaxdailyrecord.com
EverBank in $2.4B buyout talks Jacksonville-based bank says it’s in ‘advanced negotiations’
By Mark Basch Contributing Writer EverBank Financial Corp. Tuesday morning confirmed “it is in advanced negotiations with a well-respected financial services company” for a possible $2.4 billion buyout. The Jacksonville-based banking company said the financial services company would pay $19.50 a share to buy EverBank,
EverBank also Tuesday reported second-quarter adjusted earnings of 32 cents a share, 3 cents lower than last year’s second quarter and 4 cents lower than the average analysts’ forecast, according to Thomson Financial. The company had been scheduled to release its financial results Wednesday, but apparently moved up the release after news of the buyout talks leaked out.
26 percent higher than its closing stock price on Friday. EverBank’s stock rose $2.06 Monday to $17.56 after Bloomberg News reported the company was in negotiations with an unnamed suitor. EverBank said it is in exclusive negotiations with the potential buyer through Aug. 8 but there is no certainty there will be an agreement, and the company will not make any further comment.
EverBank had scheduled a conference call for Wednesday morning to discuss its results with analysts but because of the negotiations, it canceled the call. The bank’s roots go back to 1994 when a private investor group acquired Alliance Mortgage Co. in Jacksonville. The company chartered a new bank called First Alliance Bank in 1998 and expanded into its main business, online banking, with
the acquisition of CustomerOne Financial Network Inc. in 2002. The company was renamed EverBank in 2004 and began expanding its banking business and profile, eventually buying naming rights to the Jacksonville Jaguars’ stadium, which became EverBank Field in 2010. The bank has 13 branches in Florida and one in New York, according to the Federal Deposit EverBank continued on Page A-4
Fate of Hemming contract dissected
Thousands go on safari at EverBank
Committee’s work begins Wednesday By David Chapman Staff Writer
Lydia McLeod, 9; Kyla Forkey, 9; and Katrina Forkey compare phone screens during the Pokémon Safari on Monday night at EverBank Field. See more photos on Page A-3.
Photos by Fran Ruchalski
Cameron Santoro carries his 3-month-old daughter, Leia, as he studies his phone screen.
A member of the Jacksonville Sheriff’s Office plays the game while working security.
Deutsche Bank plans $5M upgrade By Karen Brune Mathis Managing Editor Global financial-services giant Deutsche Bank anticipates at least a $5 million investment in the Southside business park it leases. That comes as it completes moving about 1,000 jobs to a nearby building from other suburban space. The remodeling and relocation unite the Germany-based bank’s Jacksonville operations along Gate Parkway, bringing the almost 1,800 full-time employees closer
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together for efficiency and expansion. “We are committed to expanding our presence in Jacksonville and these renovations will help accommodate our growth,” said Leslie Slover, regional head for Deutsche Bank in Jacksonville and Cary, N.C., in a statement. Slover said the changes will give the bank the ability to increase its local capacity, help consolidate its workforce and build a more cohesive operation. Deutsche Bank leases about 350,000 square feet of space, comprising the fivebuilding, 200,000-square-foot Meridian
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Business Park at 5022 Gate Parkway and a three-story, 150,000-square-foot building at 5201 Gate Parkway. It announced the 5201 Gate Parkway lease in November to consolidate from a Belfort Road location and to allow for growth. The first floor offers a cafeteria, gym, a health and wellness center, and meeting space. A business license was issued recently to the Health Center at Deutsche Bank Jacksonville at the structure’s address. The health center is open to all Deutsche Mathis continued on Page A-4
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Before City Council determines whether Friends of Hemming Park should receive $250,000 to operate next year, it will have to decide whether to give the group $150,000 to finish out this year. Before even that, though, will come a more daunting question: Should Friends continue running the Downtown park at all? And if not that group, then who should take over? “That’s a big decision,” said council member Greg Anderson, head of the Special Committee on Hemming Park that meets Wednesday. It will be a decision members have a more-informed opinion of since the last time Anderson convened a Hemmingrelated meeting June 10. Since then, the Council Auditor’s Office released a report and media coverage outlined expenses the nonprofit running the park made thus far in its $1 million contract. Many on the eightmember special com- Anderson mittee said they were surprised by the expenses, which ranged from more than $10,000 in meals and snacks to close to $25,000 for paid musicians in the park. “I was disappointed in some of the spending patterns,” said council member Anna Lopez Brosche, who noted “a lot of meals” as one of her biggest surprises. That’s especially true given that food and beverage expenses are heavily reviewed during annual budget sessions. Council member Scott Wilson said he was bothered by the thousands of taxpayer dollars spent on a trip to Orlando to purchase office furniture at Ikea. “I don’t think that was what we intended,” said Wilson of the public money. Overall, he said, he was concerned about
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consecutive weekdays