WaFd outlines EverBank merger, targets $75 billion pro forma bank franchise
WAFD•Planned all-stock merger with EverBank
WaFd outlined a planned all-stock merger with EverBank to create a $75 billion-asset, multi-channel banking franchise.
- Pro forma balance sheet: $58 billion loans, $59 billion deposits, 82% insured.
- Target metrics include about 29% EPS accretion in 2027E, 15%+ ROATCE, 45% efficiency ratio.
- Transaction terms call for issuing 103,100,000 shares; pro forma ownership 59.2% EverBank, 40.8% WaFd.
- Combined company to be renamed EverBank Financial Corp with ticker EVBK; anticipated closing in 1Q’27.
