EverBank & WaFd Bank, stronger together

As a performance-driven national bank, EverBank is focused on strategic long-term growth. EverBank Financial Corp’s plans to combine with WaFd, Inc., and merge WaFd Bank and EverBank advance that long-term strategy.

Our two banks are a great fit—not only as complementary businesses but also as kindred organizations focused on caring for clients and associates and investing in communities. The combination of EverBank and WaFd Bank will create new opportunities for nationwide growth, enhanced financial performance and durable long-term value.

By merging, we’ll be able to leverage our combined consumer and commercial capabilities to deliver high-value products and services to clients in the ways that best meet their needs.

WaFd Bank is a Seattle-based regional bank founded in 1917 and formerly known as Washington Federal Bank. It serves consumer, business and commercial clients through a retail branch network across Washington state, Oregon, Idaho, Utah, Nevada, Arizona, Texas, New Mexico and California. WaFd Bank has a long history of relationship banking, community investment and financial strength, and is recognized as one of the most respected and deeply rooted banks in the western United States.

EverBank and WaFd Bank share a commitment to values-based cultures that put clients and communities first, with a focus on exceptional personal service, innovation and financial safety and soundness. Together, the two banks plan to expand product and service offerings for consumer and commercial clients nationwide, while making it easier for clients to bank in person through an expanded branch network and digitally through desktop and mobile channels.

The transaction is expected to be completed in early 2027, subject to approval by regulators and WaFd, Inc.’s shareholders, as well as customary closing conditions. Until the transaction closes, EverBank and WaFd Bank will continue to operate as separate institutions, and there is nothing clients need to do at this time.

There will be no immediate changes to our client services, products or FDIC coverage as a result of this announcement. EverBank will continue to serve you as it does today.

Clients do not need to take any action at this time. It’s business-as-usual for commercial clients nationwide, with no changes to your relationship managers, products or services.

EverBank and WaFd Bank will bring new and complementary commercial products and services to the combined bank. WaFd Bank has followed a similar path, converting from a thrift to a commercial bank and expanding its product and service offerings, anchored by a large retail branch network spanning the western United States. The bank has also grown through strategic acquisitions, including California-based Luther Burbank Savings in 2024. We’re excited about the opportunity to serve even more commercial clients across the country as a combined bank.

Until the transaction closes, there will be no changes to existing WaFd Bank accounts. It remains business-as-usual for WaFd Bank clients.