EverBank Financial in Jacksonville, Fla., confirmed that it is in talks to sell itself.
The $27.4 billion-asset company said in a press release Tuesday that it is in "advanced negotiations" with an unnamed buyer to sell for $19.50 a share in cash. Based on EverBank's outstanding shares at June 30, the deal would be valued at $2.5 billion.
EverBank said the exclusivity period with the buyer is set to expire on Aug. 8.
The company also reported that its second-quarter earnings fell by 51% from a year earlier, to $19 million. The quarter's biggest hit was a $37 million impairment of mortgage servicing rights.
Meanwhile, the dollar volume of mortgage warehouse loans in the bank's portfolio grew by 41% when compared with June 30, 2015, to $3 billion from $2.2 billion.