The WaFd (NASDAQ: WAFD) EverBank merger would combine EverBank Financial Corp with WaFd Inc. in a transaction the companies described as a $3.9 billion reverse merger. Under the definitive agreement announced in a joint company release, EverBank would merge into WaFd, which would remain the publicly traded holding company before adopting the EverBank Financial Corp name.
Following completion, the holding company is expected to trade on Nasdaq under the ticker EVBK. WaFd Bank would then merge into EverBank, N.A., with EverBank continuing as the national-bank subsidiary, according to the companies.
WaFd EverBank Merger Ownership and Leadership Plans
Existing EverBank investors would own about 59.2% of the combined company, while current WaFd shareholders would hold about 40.8%, the companies said. Greg Seibly is slated to become chief executive officer and Brent Beardall president. Robert Radway would serve as chairman.
The proposed holding-company and bank boards would each have 13 directors, with seven representing legacy EverBank and six representing legacy WaFd. The companies said the combination is expected to close in early 2027, subject to regulatory clearance, WaFd shareholder approval and customary conditions.
WaFd and EverBank project approximately 29% earnings-per-share accretion for WaFd shareholders in 2027 and a return on tangible common equity of about 15% after anticipated cost savings are fully realized. Those figures are company forecasts and depend on completion and integration of the transaction.
