Building Stronger Communities 

We're excited to announce that Valley Bank has agreed to merge with Bank Leumi USA. Valley has a long history of building strong, lasting relationships with people, businesses, and communities. And, as it so happens, so does Bank Leumi USA. It only made sense that we combine our resources and do it together.  

An Investor Conference call was held on September 23rd. Click here to listen to the recorded call.

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Frequently Asked Questions

 

Who is Bank Leumi USA? 

Bank Leumi USA is a relationship-driven boutique bank with global ties. They have been operating in the United States for more than 60 years and are headquartered in New York City, with offices in Chicago, Los Angeles, Palo Alto and Aventura. Bank Leumi USA offers a complete range of commercial and private banking solutions for businesses and individuals. They are FDIC-insured and offer investment and insurance products through our brokerage subsidiary.  Learn more about Bank Leumi USA. 

Who is Valley?  

We are a regional bank with $42 billion in assets and more than 200 branches located throughout New Jersey, New York, Florida and Alabama. We were founded in 1927 on the simple principle of creating better banking opportunities for our customers and helping communities grow and prosper. Our professional banking associates have embraced this spirit by providing a full range of retail and commercial banking services, home mortgage and commercial lending, wealth, insurance and estate planning solutions to help our customers and communities achieve financial success. Learn more about Valley.

Why are Valley and Bank Leumi USA merging?  

Our two banks share a very similar culture and philosophy, one that puts customers first, focuses on building relationships and supporting the local communities we serve in a meaningful way. This acquisition allows us entry into compelling new markets with experienced lending teams positioned for growth and provides access to more national businesses. It also allows us to invest in new technology and innovative solutions to improve the banking experience for all our customers.

What’s changing and what is not changing?  

Until the transaction closes, which won’t be official until early 2022, there will be no changes for employees or clients of either bank. Between now and closing there will be a full professional process and team leading the integration process of both organizations. Customers and associates will receive more communications and details in the weeks and months ahead. 

For more than 90 years,  
Valley has embraced the values of being...

 

Our mission is to give people and businesses  
the power to succeed 

   


   

 

 

Important Information and Where to Find It
In connection with the proposed acquisition (the “Transaction”) by Valley National Bancorp (“Valley”) of Bank Leumi Le-Israel Corporation (“Leumi”) and the issuance of shares of Valley common stock as consideration in the Transaction, Valley will file with the U.S. Securities and Exchange Commission (the “SEC”) a proxy statement of Valley (the “Proxy Statement”), and Valley may file with the SEC other relevant documents concerning the Transaction.  When completed, the definitive Proxy Statement will be mailed to shareholders of Valley.  This communication is not a substitute for the Proxy Statement or any other document that Valley may file with the SEC or send to its shareholders in connection with the Transaction. 
 
SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT REGARDING THE TRANSACTION CAREFULLY AND IN ITS ENTIRETY WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC BY VALLEY, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT VALLEY, LEUMI AND THE TRANSACTION.
 
Free copies of the Proxy Statement, as well as other filings containing information about Valley, may be obtained at the SEC’s website (http://www.sec.gov) when they are filed by Valley.  You will also be able to obtain these documents, when they are filed, free of charge, from Valley at www.valley.com under the heading “Investor Relations.”  The Proxy Statement can also be obtained, when it becomes available, free of charge, at Valley’s website at http://ir.valleynationalbank.com or by directing a request to Ronald H. Janis, Senior Executive Vice President & General Counsel, Valley National Bancorp, at 1455 Valley Road, Wayne, New Jersey 07470, telephone (973) 305-8800.
 
Participants in the Solicitation
Valley, Leumi and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Valley in respect of the Transaction.  Information about Valley’s directors and executive officers is available in its proxy statement for its 2021 annual meeting of shareholders, which was filed with the SEC on March 8, 2021, and other documents filed by Valley with the SEC.  Information regarding the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement and other relevant materials to be filed with the SEC when they become available.  Free copies of this document may be obtained as described in the preceding paragraph.
 
Forward Looking Statements
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to those regarding the Transaction and the issuance of shares of Valley common stock as consideration in the Transaction.  Such statements are not historical facts and include expressions about management’s confidence and strategies and management’s expectations about new and existing programs and products, relationships, opportunities, taxation, technology and market conditions.  These statements may be identified by such forward-looking terminology as “will,” “estimate,” “expect,” “believe,” “view,” “opportunity,” “allow,” “continues,” “reflects,” “typically,” “usually,” “anticipate,”  or similar statements or variations of such terms.  Such forward-looking statements involve certain risks and uncertainties.
 
Actual results may differ materially from such forward-looking statements.  In addition to factors previously disclosed in Valley’s reports filed with the SEC and those identified elsewhere in this communication, factors that may cause actual results to differ from those contemplated by such forward-looking statements include, but are not limited to, the following: the possibility that the Transaction does not close when expected or at all because shareholder, regulatory or other approvals or other conditions to the closing of the Transaction are not received or satisfied on a timely basis or at all (and the risk that such approvals may result in the imposition of conditions that could adversely affect Valley or the expected benefits of the Transaction); the inability to realize expected cost savings and synergies from the Transaction in amounts or in the timeframe anticipated, including as a result of changes in, or problems arising from, general economic and market conditions, interest and exchange rates, monetary policy, laws and regulations and their enforcement, and the degree of competition in the geographic and business areas in which Valley and Leumi operate; changes in the estimates of non-recurring charges; the diversion of management’s attention and time from ongoing business operations and opportunities on issues relating to the Transaction; the possibility that costs or difficulties relating to Leumi integration matters might be greater than expected, including as a result of unexpected factors or events; changes in the stock price of Valley from the date of the acquisition announcement to the closing date; material adverse changes in Valley’s or Leumi’s operations or earnings; the inability to retain customers and qualified employees of Leumi; higher- or lower-than-expected income tax expense or tax rates, including increases or decreases resulting from changes in uncertain tax position liabilities, tax laws, regulations and case law; weakness or a decline in the U.S. economy, in particular in New Jersey, the New York Metropolitan area (including Long Island), Florida, California or the Chicago metropolitan area; an unexpected decline in commercial real estate values within Valley’s or Leumi’s market areas, reputational risk and potential adverse reactions of Valley’s or Leumi’s customers, employees or other business partners, including those resulting from the announcement or completion of the Transaction; the outcome of any legal proceedings that may be instituted against Valley or Leumi; and the impact of the global COVID-19 pandemic on Valley’s or Leumi’s businesses, the ability to complete the Transaction or any of the other foregoing risks.  Further information regarding Valley and factors which could affect the forward-looking statements contained herein are set forth in Valley’s Annual Report on Form 10-K for the year ended December 31, 2020, its Quarterly Reports on Form 10-Q for the three-month periods ended March 31, 2021 and June 30, 2021, and its other filings with the SEC.  Valley assumes no obligation for updating any such forward-looking statement at any time.