WaFd, Inc. filed soliciting material under Schedule 14A on October 23, 2026, consisting of excerpts from the transcript of its fiscal year 2026 year-end all-hands employee call held on October 22, 2026, covering discussions of its proposed merger with EverBank Financial Corp.

Key Highlights

  • Fiscal year 2026 after-tax net income: WaFd reported what it described as its "second best year ever" in after-tax net income, at $241 million, or $3.21 per share, according to the filing.
  • Merger-related expenses: The company incurred $6.2 million in merger expenses during the quarter, according to CFO Kelli Holz's remarks in the transcript.
  • Adjusted EPS trend: Excluding the $6.2 million in merger expenses, earnings per share would have been up 5% quarter over quarter and 10% compared to the prior year, the filing states.
  • Total non-interest expense: Non-interest expense was $121.5 million for the quarter, compared to $110.3 million in the June quarter, according to the filing.
  • Merger timeline: CEO Brent Beardall stated the company expects to "finalize all this between now and the end of December," with formal employee communications to follow.
  • Strategic rationale cited: The merger is described in the transcript as balancing WaFd's commercial real estate concentration with EverBank's lending to non-bank financial companies.

WaFd Employee Call Highlights Proposed EverBank Combination and Fiscal 2026 Results

WaFd, Inc. (NASDAQ:WAFD) filed soliciting material under Rule 14a-12 disclosing excerpts from a transcript of an internal all-hands call held on October 22, 2026. The excerpts are limited to the portions of the call addressing the proposed merger with EverBank Financial Corp. Speakers on the call included President and CEO Brent Beardall, Executive Vice President and CFO Kelli Holz, and Executive Director of Commercial Real Estate Tom Pozarycki.

According to the filing, CFO Kelli Holz reported that fiscal year 2026 after-tax net income was $241 million, or $3.21 per share, characterizing it as "what is likely to be our last and final fiscal year before the merger with EverBank." She noted that total non-interest expense rose to $121.5 million from $110.3 million in the June quarter, attributing the increase to "continued investments in our people and technologies combined with the 6.2 million in merger related cost." Adjusting for merger expenses, Holz said earnings per share would have been up 5% quarter over quarter and 10% year over year.

CEO Brent Beardall addressed employee concerns about the pending combination, stating that for employees serving clients directly, "you have jobs going forward." He indicated that communications about ongoing roles would be provided between the call date and December. On strategic rationale, Beardall described the partnership as one that "makes us stronger, definitively makes us stronger," and noted that WaFd's shift toward SBA lending and non-interest-bearing deposits aligns with areas EverBank seeks to expand. The filing contains forward-looking statements that the company cautions are subject to significant uncertainties and contingencies, as described in the filing's cautionary language.

What Was Disclosed

WaFd filed transcript excerpts from an October 22, 2026 employee all-hands call discussing the proposed EverBank merger, fiscal 2026 financial results including $241 million in after-tax net income, $6.2 million in merger expenses, and an expected December timeline for employee communications.