This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

EverBank Financial Corp. Announces First Quarter 2012 Financial Results

Stocks in this article: EVER

EverBank Financial Corp. (NYSE:EVER) (“EverBank” or the “Company”) announced today its financial results for the quarter ended March 31, 2012.

“After our successful initial public offering completed this month, in which we raised approximately $200 million of growth capital, we are pleased to report strong earnings and continued asset growth in the first quarter,” said Robert M. Clements, Chairman and Chief Executive Officer. “Our results highlight our ability to deliver solid performance while continuing to make investments in our business infrastructure to support future growth. We are very excited about our position in the marketplace and plan to leverage our nationwide core businesses in lending, banking and investing to deepen client relationships and maximize franchise value.”

Key Highlights

  • GAAP net income was $11.8 million for the first quarter of 2012, compared to $9.4 million for the first quarter of 2011. GAAP diluted earnings per share (“EPS”) was $0.08 for the first quarter of 2012, compared to $0.09 for the first quarter of 2011.
  • Adjusted net income was $27.3 million for the first quarter of 2012, compared to $24.5 million for the first quarter of 2011. Adjusted diluted EPS was $0.28 for the first quarter of 2012, as compared to $0.25 for the first quarter of 2011.
  • Total loans and leases held for investment were $7.2 billion at March 31, 2012, up $0.8 billion, or 12%, from December 31, 2011.
  • Loans and leases originated were $2.2 billion for the first quarter.
  • Deposits were $10.6 billion at March 31, 2012, up $0.3 billion, or 3%, for the quarter and $0.9 billion or 9% year over year.
  • Our adjusted non-performing assets as a percentage of total assets was 1.63% at March 31, 2012, down from 1.86% at December 31, 2011.
  • Tangible book value per as converted common share was $10.40 at March 31, 2012 excluding accumulated other comprehensive income, it was $11.35 up 5% year over year.
  • We completed the acquisition of MetLife Bank’s Warehouse Finance business on April 2, 2012 which included approximately $350 million of loans outstanding.

“All of our asset origination platforms had strong performance in the first quarter,” said W. Blake Wilson, President and Chief Operating Officer. “The addition of MetLife Bank’s Warehouse Finance business following the quarter will further diversify our origination capabilities and continue to drive our sustained growth.”

1 of 8

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs