TIAA, a leading financial services provider, acquired EverBank, a nationwide consumer and commercial bank with $27.4bn in total assets, for $2.5bn. At completion EverBank was rebranded to TIAA Bank. “I am very excited to welcome EverBank to the TIAA team,” said Roger W. Ferguson, Jr., president and chief executive officer at TIAA. “EverBank’s complementary capabilities and two decades of profitability make this an excellent investment and a great strategic fit for TIAA. Together, we look forward to bringing an enhanced level of service and an expanded range of financial solutions to our millions of loyal customers and the institutions we serve.”