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TIAA Bank to Become EverBank

June 26, 2023, 08:23 AM
Filed Under: Banking News

TIAA Bank announced it will become EverBank.

The return of the EverBank name brings with it a tradition of partnership, reliability and trust, as the bank transitions to new ownership and renews its long-standing commitment to provide a financial advantage to all its nationwide consumer and commercial clients.

As part of change in the bank's name and brand, TIAA Bank Field – home to the NFL's Jacksonville Jaguars – will be renamed EverBank Stadium. The name change will take place in advance of the Jaguars' first home game, on Sept. 17.

"The EverBank brand has always represented forward-looking optimism, confidence and trust," said Steve Fischer, TIAA Bank President and CEO. "Our new bank, under a new brand and the EverBank name, embraces that legacy of unmatched service and high-value products that enable our clients to reach their own definition of success."

In November 2022, TIAA announced plans to sell TIAA Bank to private investors with extensive experience in financial services. The transaction will enable the bank to chart an independent future under new ownership as TIAA renews its long-term strategic focus on its core retirement, wealth-management and asset-management businesses. TIAA will retain a minority stake in the bank and remain an ongoing business partner of the bank.

The bank sale transaction is expected to close later this summer. TIAA Bank will become EverBank when the transaction is completed.

The name change will have no impact on bank client accounts or TIAA retirement accounts, and it remains business-as-usual for the many ways the bank services consumer and commercial clients nationwide.

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