Merger Financial Outlook

Financially, the merger is projected to generate a return on tangible common equity of roughly 15 % after full cost synergies are realized. For WaFd shareholders, earnings‑per‑share accretion is forecast at approximately 29 % in 2027, with tangible book‑value dilution recovered within two years. Return on equity is expected to be 15 % and return on assets 1.5 %. The transaction is structured to be tax‑free for common shareholders of both companies.