Exclusive | EverBank to Combine With WaFd to Create $75 Billion Bank - WSJ — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- EverBank and WaFd are combining in a $3.9 billion reverse merger that will create a bank with approximately $75 billion in assets, per the exclusive WSJ report.
- The deal is structured as a reverse merger, with the digital lender EverBank effectively merging into publicly held WaFd rather than the other way around (per CNBC).
- EverBank is characterized by PYMNTS as a "digital lender," highlighting the digital-native identity it brings to the combined institution.
- WaFd maintains a community banking presence including a West Seattle branch, per the local affiliate's coverage of the parent company's merger announcement.
- The combined $75 billion institution would rank among the larger U.S. regional banks, a scale jump for WaFd from its standalone community-banking roots.
Why it matters: The reverse merger structure means the private digital lender EverBank is the technical acquirer of publicly traded WaFd, giving EverBank a stock-market currency while folding WaFd's branch network and deposit base into a $75 billion combined entity — a notable scale play in regional banking consolidation.
Ask SkimNews
