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TIAA Bank will be sold and renamed

TIAA Bank.png
Jacksonville Daily Record
TIAA Bank Center at 301 W. Bay St. in Downtown Jacksonville.

TIAA announced Thursday that it is selling its Jacksonville-based bank to a group of investment funds to focus on its retirement and asset management businesses.

The company said TIAA Bank will remain headquartered in Jacksonville and operate under a new name, which will be announced when the deal closes.

TIAA’s bank has been headquartered in Jacksonville since it acquired EverBank Financial Corp. in 2018. It merged EverBank with TIAA’s smaller bank subsidiary.

Read the rest of this story at the Jacksonville Daily Record, a WJCT News partner.