Valley National Bancorp Receives Final Regulatory Approvals and Announces the Anticipated Closing Date of the Acquisition of Bank Leumi USA
March 07 2022 - 4:15PM
Valley National Bancorp (NASDAQ:VLY) (“Valley”)
announced today that is it has received all regulatory approvals in
connection with the previously announced acquisition of Bank Leumi
Le-Israel Corporation, the US subsidiary of Bank Leumi Le-Israel
B.M., and parent company of Bank Leumi USA.
Valley had previously announced receipt of
regulatory approval from the Federal Reserve Bank of New York and
the Office of the Comptroller of the Currency. Additional
regulatory approvals, including by the New York State Department of
Financial Services and the Bank of Israel, were recently received.
Valley’s shareholders approved the issuance of Valley stock in
connection with the merger on January 13, 2022.
Valley anticipates that the closing of the
merger will occur on April 1, 2022, subject to customary closing
conditions.
About ValleyAs the principal
subsidiary of Valley National Bancorp, Valley National Bank is a
regional bank with approximately $43 billion in assets. Valley is
committed to giving people and businesses the power to succeed.
Valley operates many convenient branch locations across New Jersey,
New York, Florida and Alabama, and is committed to providing the
most convenient service, the latest innovations and an experienced
and knowledgeable team dedicated to meeting customer needs. Helping
communities grow and prosper is the heart of Valley’s corporate
citizenship philosophy. To learn more about Valley, go to
www.valley.com or call our Customer Care Center at
800-522-4100.
About Bank Leumi USABank Leumi
Le-Israel Corporation is the U.S.-based holding company for Bank
Leumi USA, a New York state chartered bank offering a full range of
commercial loan and deposit products. Leumi has over 60 years of
experience in the U.S. commercial banking industry and currently
operates commercial offices in New York City, Chicago, Los Angeles,
Palo Alto, and Aventura (FL). To learn more about Leumi, go to
www.leumiusa.com.
Contact: |
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Michael Hagedorn, SEVPChief Financial Officer 973-872-4885 |
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