WaFd, Inc. has agreed to a reverse merger transaction with EverBank Financial Corp valued at about $3.9 billion, announced Sept. 7. Under the terms described by outlets, the combined company will keep WaFd as a publicly traded entity while changing its name to EverBank Financial and trading under the ticker “EVBK.”
The deal links EverBank’s operations with WaFd Bank, which multiple reports describe as having complementary businesses. PR Newswire presents the transaction as positioning the combined bank for performance and shareholder returns, including expected earnings per share (EPS) accretion in 2027. PYMNTS focuses more on the structure and market outcome of the merger—namely that WaFd remains public, the name changes, and the new ticker reflects the EverBank branding. Both accounts characterize the transaction as a strategic combination rather than an acquisition of a non-public target.
