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EverBank Takes Control of WaFd in $3.9B Reverse Merger
The combined bank would have about $75 billion in assets and project $135 million in annual cost savings, the companies said.
- On Monday, September 7, 2026, Florida-based EverBank Financial Corp agreed to a $3.9 billion reverse merger with Seattle-based WaFd Inc., creating a regional bank with roughly $75 billion in assets.
- WaFd CEO Brent Beardall called the combination "an elegant fit" pairing branch deposits with EverBank's online model; EverBank Chief Executive Officer Greg Seibly emphasized nationwide growth through scalable platforms.
- EverBank investors will own roughly 59.2 percent of the combined company while WaFd shareholders retain 40.8 percent; the institutions project $135 million in annual cost savings with an early 2027 close.
- The combined holding company will establish headquarters in Bellevue, Washington, retaining WaFd's Nasdaq listing and trading under the symbol EVBK with a 13-member board of directors.
- Both banks have shifted toward commercial banking in recent years; the combined institution will operate more than 250 financial centers, enabling wealth management expansion and diversified loan portfolios through a broader deposit base.
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EverBank to combine with WaFd in $3.9 billion reverse merger
·London, United Kingdom
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Total News Sources13
Leaning Left1Leaning Right0Center8Last UpdatedBias Distribution89% Center
Bias Distribution
- 89% of the sources are Center
89% Center
11%
C 89%
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