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EverBank Financial Up For Sale

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EverBank Financial Corp. is up for sale.

Jacksonville-based EverBank Financial Corp. might soon have a new owner.

The local bank said it is in advanced negotiations during an exclusive period that ends Aug. 8. It would not identify the financial institution it is talking with, but an analyst with Raymond James & Associates told the Business Journal that TD Bank is the most likely suitor. 

After days of speculation, EverBank's stock prices saw an uptick of more than 13 percent on Tuesday. While the move could be good for shareholders, banking experts in Jacksonville have said it could have a negative effect on the city.

Among the impacts: local jobs being eliminated and the bank’s headquarters going away.

The sale would be part of a trend in banking, in which increased regulation and low interests rates are making times tough for small and mid-sized banks, which are putting themselves up for sale.

Timothy is editor in chief of the Jacksonville Business Journal.