- Tangible common equity per common share increased 11% year over year to $11.78 at March 31, 2014.
- Retained asset generation of $1.1 billion in the quarter, or $4.6 billion annualized.
- Portfolio loans held for investment (HFI) grew to $13.9 billion, an increase of 4.6% compared to the prior quarter, or 18.4% annualized.
- Core net interest margin (NIM) was 3.36% compared to 3.30% in the prior quarter.
- Adjusted non-performing assets to total assets of 0.62% at March 31, 2014. Annualized net charge-offs to total loans and leases held for investment of 0.12% for the quarter.
- Strong capital position with bank tier 1 leverage ratio of 9.1% and bank total risked-based capital ratio of 14.3%.
- Completed the sale of approximately $10 billion unpaid principal balance of mortgage servicing rights to Green Tree Servicing LLC ("Green Tree").
|1||A reconciliation of Non-GAAP financial measures can be found in the financial tables attached hereto.|
- Subsequent to quarter end, EverBank announced that Ginnie Mae had approved the previously disclosed partnership between EverBank and Green Tree, which will allow Green Tree to sub-service EverBank’s Ginnie Mae and government loan servicing portfolio commencing on May 1, 2014, concurrent with the default servicing platform transfer to Green Tree.