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EverBank and WaFd Agree to $3.9B Reverse Merger

9/8/2026

25 5 Full Breakdown

Summary

Story summary

EverBank Financial and Washington Federal agreed to a $3.9 billion reverse merger.
The combined bank will hold about $75 billion in assets.
Greg Seibly will serve as CEO and Brent Beardall as president of the new bank.
EverBank investors will own roughly 59.2% and WaFd shareholders 40.8% of the pro-forma company.
WaFd projects 2027 EPS accretion near 29% and a tangible book-value recovery in under two years.

History

Historical Context

1998 saw NationsBank acquire BankAmerica in a $62 billion deal that created the nation’s largest bank, holding $570 billion in assets and about 12 % of U.S. deposits. That landmark consolidation showed how mega-mergers could reshape regional markets, a pattern echoed today as EverBank’s $3.9 billion reverse merger with Washington Federal combines roughly $75 billion in assets under CEOs Greg Seibly and Brent Beardall.

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Story summary

EverBank Financial and Washington Federal agreed to a $3.9 billion reverse merger.
The combined bank will hold about $75 billion in assets.
Greg Seibly will serve as CEO and Brent Beardall as president of the new bank.
EverBank investors will own roughly 59.2% and WaFd shareholders 40.8% of the pro-forma company.
WaFd projects 2027 EPS accretion near 29% and a tangible book-value recovery in under two years.

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