WaFd-EverBank Merger Call Reveals 29% EPS Accretion, $135M Cost Synergies, and Full Leadership Team
WAFD sits 30% above its 52-week low of $26.31 on elevated volume (6.0× avg).
Summary
WaFd's merger call with EverBank quantified the deal: 29% EPS accretion, 8.6% TBV dilution, $135M cost synergies, and a full leadership team led by Greg Seibly as CEO and Brent Beardall as President.
Key Events · M&A and Partnerships · WAFD
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Merger Economics Quantified
Management projects 29% fully synergized EPS accretion in 2027 (from $3.37 to $4.34), 8.6% tangible book value dilution, and a 2-year TBV earn-back period for the $3.9 billion all-stock reverse merger.
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Cost Synergies and Deal Charges
$135 million in annualized cost synergies expected, with 40% realized in year one. Total pretax deal-related charges of $260 million, with 65% recognized at or shortly after closing.
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Fair Value Marks Detailed
Expected credit mark of $313 million (1.55% of WaFd loans), pretax rate mark of approximately $600 million on loans, $368 million core deposit intangible, and $105 million preferred stock fair value reduction.
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Leadership Team Announced
Greg Seibly will serve as CEO, Brent Beardall as President, Pat Rusnak as CFO, with Robert Radway as Chairman. Board will have 7 EverBank and 6 WaFd seats.
Analysis · WAFD · Finance
This conference call transcript adds substantial new detail to the reverse merger announced earlier today. Management quantified the deal economics for the first time: 29% fully synergized EPS accretion in 2027 (from $3.37 to $4.34), 8.6% tangible book value dilution, a 2-year earn-back, and $135 million in annualized cost synergies. The call also named the complete executive leadership team and outlined a three-brand operating strategy. For a $2.5 billion market cap bank, a $3.9 billion all-stock combination that projects 15%+ ROTCE and a $75 billion combined balance sheet is a thesis-altering event. The specificity of the financial modeling — including the $313 million credit mark, $600 million rate mark, and $368 million core deposit intangible — gives investors concrete numbers to evaluate the deal's risk and return profile.
How filings like this one have moved
In the 30 days to Sep 11, 2026, 42.6% of the 523 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.47%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, WAFD was trading at $34.26 on NASDAQ in the Finance sector, with a market capitalization of approximately $2.5B. The 52-week trading range was $26.31 to $39.49. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.