WaFd and EverBank Announce $3.9 Billion Reverse Merger to Boost Returns

Key Facts

1WaFd, Inc. announced it has entered into a $3.9 billion reverse merger transaction with EverBank Financial Corp.

2The combination is expected to result in significant EPS accretion by 2027.

In a move reflecting the push among regional banks to optimize capital efficiency and scale operations, WaFd, Inc. has announced a $3.9 billion reverse merger with EverBank Financial Corp. According to reports, this strategic combination is designed to enhance the overall financial performance and returns of the unified entity. The transaction is projected to deliver significant earnings per share (EPS) accretion starting in 2027, signaling management's confidence in the long-term value creation of the merger.

Under the terms of the agreement, EverBank investors—including prominent firms such as Stone Point Capital and Warburg Pincus—will collectively own approximately 59.2% of the pro forma combined company, while WaFd shareholders will retain roughly 40.8%. This ownership structure brings a heavy institutional backing to the new entity as it seeks to leverage combined resources for growth within the competitive banking landscape.

Market data shows WAFD shares closed at $36.3 on September 4, 2026, having traded within a range of $35.8 to $36.42 during that session. Investors should monitor the upcoming filing of WaFd’s proxy statement for further transaction details and regulatory timelines. Additionally, broader market sentiment in the financial sector remains a key factor to watch as the merger progresses toward its 2027 profitability targets.