WaFd, EverBank Agree $3.9 Billion Merger

EverBank is a nationwide specialty lender built around digital deposits and niche commercial finance, while Seattle-based WaFd pairs a branch network across nine western states with commercial real estate expertise. Both have been moving away from residential and consumer lending toward commercial banking. Their combination is designed to marry EverBank’s online retail funding with WaFd’s commercial deposits and physical reach, creating a more diversified loan book and steadier funding base.

WaFd and EverBank announced the $3.9 billion reverse merger on Sept. 7, 2026, and expect to close it in early 2027, subject to regulatory and WaFd shareholder approvals. WaFd will remain the listed holding company but be renamed EverBank Financial Corp and trade on Nasdaq as EVBK; EverBank, N.A. will be the surviving bank. The combined lender will have about $75 billion in assets, placing it among the 50 largest U.S. banks. EverBank investors will own 59.2%, with WaFd shareholders holding 40.8%.