TIAA Bank

TIAA Bank is an American diversified financial services organization under the auspices of New York-based TIAA. Based in Jacksonville, Florida, TIAA Bank provides banking, mortgages, and investing services throughout the United States. The institution was formed through the combination of TIAA Direct, TIAA's former banking division, and EverBank. The new name became official on June 4, 2018, following EverBank's acquisition by TIAA in July 2017.[1]

TIAA Bank
TypeSubsidiary
IndustryFinancial services
Founded1918
FounderFrank Trotter
Rob Foregger
Vincent Amato
David Galland
HeadquartersTIAA Bank Plaza
501 Riverside Ave
Jacksonville, Florida
Area served
Worldwide
Key people
Thasunda Brown Duckett (CEO, TIAA)
Steve Fischer (CEO, TIAA Bank)
ProductsBanking, Financial services
Number of employees
3,380
ParentTIAA
WebsiteTIAA Bank

History

Originally named Teachers Insurance and Annuity Association of America, TIAA was created in 1918 by Andrew Carnegie, a Scottish-American industrialist, business magnate, and philanthropist known for building Carnegie Hall in New York, NY,[2] and for the 2,509 public and university libraries whose construction he funded across the U.S. and beyond.

TIAA reached a deal to buy EverBank for $2.5 billion in cash on August 8, 2016.[3] On June 12, 2017, the company officially became "TIAA FSB Holdings, Inc. formerly known as EverBank Financial Corp". Nearly a year later, TIAA began rebranding all of its banking activities under the TIAA Bank name on June 4, 2018.[1]

On Nov 3, 2022, TIAA entered into an agreement to spin off TIAA Bank to private interests.[4]

Community involvement

Since 2018, the bank has donated nearly 9 million dollars to over 100 charitable organizations based upon 4 main pillars: education, environment, hunger and community building. TIAA Bank has given support to organizations such as the following:

TIAA Bank Field
See also: TIAA Bank Field

Originally named Jacksonville Municipal Stadium, and later Alltel Stadium, the home of the Jacksonville Jaguars got a new name on the eve of the 2010 training camp, when EverBank Financial Corp and the Jaguars introduced EverBank Field on July 27, 2010. The partnership included a five-year naming rights agreement, which was extended by another 10 years in 2014.

On June 4, 2018, EverBank became TIAA Bank and the stadium was renamed TIAA Bank Field.

See also

References
  1. Gibbons, Timothy. "As TIAA Bank becomes official, merger 'favorable' to Jacksonville job market". bizjournals.com/jax. Jacksonville Business Journal. Retrieved 13 June 2018.
  2. Lowell, Jim. "TIAA-CREF's 401(k) Options". Forbes. Retrieved 2022-01-18.
  3. Ensign, Rachel Louise; Demos, Telis (8 August 2016). "TIAA to Buy EverBank for $2.5 Billion" – via Wall Street Journal.
  4. TIAA. "TIAA Enters into Definitive Agreement to Sell TIAA Bank". www.prnewswire.com. Retrieved 2022-11-03.
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