WaFd and EverBank Financial Corp have agreed to a reverse merger that will combine the two businesses, with WaFd remaining the holding company but adopting the EverBank name and a new Nasdaq ticker after the transaction closes. Ownership of the combined business will tilt toward EverBank, whose investors are expected to hold about 59.2%, while WaFd shareholders will hold roughly 40.8%. Board seats also lean EverBank by a seven to six margin, and Greg Seibly from EverBank is set to become CEO, while WaFd's Brent Beardall becomes president. The deal includes a refreshed leadership structure, a reworked board, and plans to expand WaFd's wealth management platform, with the next key test being execution between now and the targeted early 2027 close, including securing regulatory approvals and WaFd shareholder consent, followed by delivering the planned cost synergies that underpin the combined profitability targets.
Taishin Financial Holding Co Ltd
WaFd, Inc.