WaFd to Merge With EverBank Financial, Expected 29% EPS Accretion
WaFd plans to merge with EverBank Financial Corp, with EverBank Financial merging into WaFd before renaming and adopting the Nasdaq ticker EVBK. WaFd Bank will merge into EverBank, N.A., which will remain the operating bank. Expected 29% EPS accretion in 2027 and a projected recovery of tangible book value dilution within two years. EverBank investors are expected to own 59.2% and WaFd shareholders 40.8%. The deal combines deposits, branches, CRE strengths, and potential expansion of wealth-management and RIA offerings.