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TIAA completes EverBank Financial deal

Teachers Insurance & Annuity Association of America on June 9 completed its acquisition of Jacksonville, Fla.-based EverBank Financial Corp, according to a Form 8-K.

The Federal Reserve and the Office of the Comptroller of the Currency have approved the merger.

The all-cash deal, valued at roughly $2.5 billion, was announced in August 2016. Under the agreement, TIAA unit TIAA-CREF Trust Co. FSB will merge with and into EverBank, a unit of EverBank Financial.

As of March 31, EverBank Financial had $27.78 billion in assets.