EverBank and WaFd Merge in $3.9 Billion Deal

EverBank Financial Corp. and WaFd, Inc. announced Monday, September 7, 2026, a definitive merger agreement valued at $3.9 billion. The combination will unite Jacksonville, Florida-based EverBank, an online bank, with Seattle-based regional lender WaFd. The deal is expected to close in early 2027, pending regulatory and WaFd shareholder approvals. Under the terms of the agreement, EverBank Financial Corp. will merge into WaFd, Inc. The surviving publicly traded holding company will rebrand as EverBank Financial Corp. and will trade on the Nasdaq exchange under the ticker symbol EVBK. At the bank level, WaFd Bank will merge into EverBank, N.A., with EverBank continuing as the federally chartered bank. This transaction is structured to be tax-free for common shareholders of both companies. Upon completion, investors in EverBank, including funds managed by Stone Point Capital, Warburg Pincus, Reverence Capital Partners, Sixth Street, and Bayview Asset Management, along with TIAA, are expected to hold approximately 59.2% of the merged entity. WaFd, Inc. shareholders will hold the remaining 40.8%.