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EverBank to combine with WaFd in reverse merger plan

The deal would create a combined bank with about $75 billion in assets, according to the WSJ Markets summary.

Reported · Written up by our desk · M&A & Deals

EverBank Financial, based in Florida, has reached an agreement to pursue a reverse merger with WaFd Bank, a smaller bank in the Pacific Northwest, WSJ Markets reports.

The transaction is structured as a reverse merger, with the companies working toward combining operations as they move forward with the plan.

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