Alliance Completes Everbank Acquisition

Alliance Capital Partners Inc., Jacksonville, Fla., has completed its purchase of Everbank, an Internet bank from WSFS Financial Corp., a thrift holding company in Wilmington, Del.Alliance Capital Partners, which is privately held, is the parent of Alliance Mortgage Co., which operates joint ventures with priceline.com and Bank of New York and originates loans through a wholesale channel, and OnePipeline, which does business with real estate agents. Alliance services $26 billion and has annual originations of $8 billion. The company also owns a North Florida retail commercial bank, First Alliance Bank, of which Everbank will operate as a division. "The merger represents a compelling combination, bringing together Everbank's nationwide banking and low-cost funding platform and Alliance's powerful home loan generation capability," said Robert Clements, chairman and chief executive of Alliance Capital. "The acquisition is another major milestone in Alliance Capital Partners' transition from a leading national mortgage company to a leading national financial services company."