EverBank Cancels NetBank Asset Pact

EverBank Financial Corp., Jacksonville, Fla., has reported the termination of its previously announced agreement to acquire the consumer deposit accounts, business finance division, and other assets of Atlanta-based NetBank (formerly the parent company of Meritage Mortgage).The agreement was announced May 21 along with the acquisition of NetBank's mortgage servicing portfolio, which was completed on July 1, EverBank said. The cancellation of the agreement to purchase the other assets came about "after it became clear that NetBank would not be able to complete certain conditions required to close and receive regulatory approval," EverBank said. EverBank chairman Robert Clements said the company's earnings grew 11% in the first half and that EverBank "remains in a strong position to take advantage of many other growth and acquisition opportunities that exist in this market." The companies can be found on the Web at http://www.everbank.com and http://www.netbank.com.