NewsMeter
$3.9 billion is the deal price on a reverse merger that pairs EverBank Financial with WaFd, Inc.
(Nasdaq: WAFD), yielding a combined institution with roughly $75 billion in assets and a new Nasdaq listing under ticker EVBK. EverBank merges into WaFd's legal entity, WaFd adopts the EverBank Financial Corp.
name, and the ownership split lands at 59.2% for EverBank shareholders versus 40.8% for WaFd's existing holders. The diversification math is the structural driver.
EverBank's roughly $37 billion loan portfolio currently carries more than 40% exposure to nonbank financial companies, tied to private-equity and private-credit borrowers.
Keep reading