State Bancorp, Inc. Common Stock to be Delisted From NASDAQ in Connection With the Merger With Valley National Bancorp, Inc.
December 30 2011 - 4:43PM
State Bancorp, Inc. ("State Bancorp") (Nasdaq:STBC), parent company
of State Bank of Long Island ("State Bank"), today reported that
State Bancorp's common stock will be delisted from the NASDAQ Stock
Exchange after the close of business on December 30, 2011 in
connection with the completion of the merger of State Bancorp into
Valley National Bancorp ("Valley"), which will be effective on
January 1, 2012. The Valley common stock being issued to State
Bancorp stockholders as the merger consideration will begin trading
under the Valley symbol "VLY" on the New York Stock Exchange as of
January 3, 2012.
Corporate Information
State Bancorp, Inc. is the holding company for State Bank of
Long Island. In addition to its sixteen branches located in Nassau,
Suffolk, Queens and Manhattan, the Bank maintains its corporate
headquarters in Jericho, New York. State Bank has built a
reputation for providing high-quality personal service to meet the
needs of our diverse customer base which includes commercial real
estate owners and developers, small to middle market businesses,
professional service firms, municipalities and consumers. State
Bank maintains a web site at www.statebankofli.com with corporate,
investor and branch banking information.
Forward-Looking Statements and Risk Factors
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Words such as "may," "could," "should," "would," "believe,"
"anticipate," "estimate," "expect," "intend," "plan," "project,"
"is confident that," and similar expressions are intended to
identify forward-looking statements. The forward-looking statements
involve risk and uncertainty and a variety of factors that could
cause State Bancorp's actual results and experience to differ
materially from the anticipated results or other expectations
expressed in these forward-looking statements. State Bancorp's
ability to predict results or the actual effect of future plans or
strategies is inherently uncertain. Factors that could have a
material adverse effect on the operations of State Bancorp and its
subsidiaries include, but are not limited to, changes in: market
interest rates, general economic conditions, legislative/regulatory
changes, monetary and fiscal policies of the U.S. Government, the
quality and composition of the loan or investment portfolios,
demand for loan products, demand for financial services in State
Bancorp's primary trade area, litigation, tax and other regulatory
matters, accounting principles and guidelines, other economic,
competitive, governmental, regulatory and technological factors
affecting State Bancorp's operations, pricing and services and
those risks detailed in State Bancorp's periodic reports filed with
the SEC. Investors are encouraged to access State Bancorp's
periodic reports filed with the SEC for financial and business
information regarding State Bancorp at www.statebankofli.com. State
Bancorp undertakes no obligation to publish revised events or
circumstances after the date hereof.
CONTACT: Anthony J. Morris, Chief Marketing &
Corporate Planning Officer
516-495-5098
amorris@statebankofli.com
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