UPDATE 1-EverBank to buy MetLife Bank unit

Feb 9 (Reuters) - Financial company EverBank Financial Corp said it will buy MetLife Bank's warehouse finance business, a unit of MetLife Inc, in a bid to increase its assets by $400 million.

The deal, whose terms were not disclosed, is expected to close in the first half of 2012.

"We've been interested in entering the warehouse lending business for some time," said Rob Clements, Chief Executive of EverBank.

Florida-based EverBank was advised by Goldman Sachs on the deal, while MetLife was advised by Deutsche Bank Securities.

Shares of MetLife closed at $37.69 on Wednesday on the New York Stock Exchange.