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EVER > SEC Filings for EVER > Form 8-K on 11-Dec-2013All Recent SEC Filings

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Form 8-K for EVERBANK FINANCIAL CORP


11-Dec-2013

Other Events


Item 8.01. Other Events.

On December 9, 2013, EverBank Financial Corp's wholly-owned subsidiary, EverBank, entered into an agreement with the Federal Deposit Insurance Corporation (the "FDIC") to terminate the loss sharing agreements entered into with the FDIC in connection with the May 2010 Bank of Florida acquisition. As part of the termination of these agreements and EverBank's true-up obligations thereunder, EverBank will pay the FDIC $48 million comprised of a $24 million cash payment together with a $24 million promissory note which will mature and become payable on December 31, 2014. EverBank did not submit any claims for loss sharing coverage under any of the loss sharing agreements during the terms of such agreements.


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