Two regional banks — EverBank of Florida and WaFd of the Pacific Northwest — have agreed to unite in a $3.9 billion reverse merger, a transaction that speaks to the enduring logic of scale in modern finance. The combined institution, holding $75 billion in assets, will occupy a deliberate middle ground: large enough to compete for capital and technology, yet distinct from the megabanks that dominate the national landscape. In an era when size increasingly determines survival, this merger reflects the quiet but persistent consolidation reshaping American banking from the edges inward.