EverBank Financial, which counts wealth management and private banking among its services, has announced the acquisition of the Bank of Florida, effectively bringing its total assets to $11.5 billion.

In an agreement with the Federal Deposit Insurance Corporation, EverBank will assume deposits worth around $1.2 billion, loans of $1.2 billion, and about $1.5 billion in assets. All loans acquired in the transaction are subject to loss sharing agreements with the FDIC, the bank said in a release.

"We look forward to welcoming our new customers when the Bank of Florida locations open as branches of EverBank," said Rob Clements, chairman and chief executive officer of the company. "We anticipate customers will be pleased to find that 100 per cent of their deposits will remain safe and secure."

EverBank's acquisition of Bank of Florida businesses to EverBank expands its network in the US and further increases its penetration in the Miami, Naples, and Tampa Bay areas, where it already has an existing operation.

Former depositors of the Bank of Florida are depositors of EverBank with immediate effect.