The deal: EverBank buys Sterling Bank for $261 million

EverBank has announced plans to acquire Sterling Bank for $261 million through a stock purchase agreement. EverBank, based in Jacksonville, Florida, plans to acquire Sterling Bank’s 25 branches, $900 million in loans and $2 billion in annual deposits, and aims to expand its presence in San Francisco and other parts of California, an EverBank spokesman said in a statement. (…)