Valley Announces Leadership Changes to its New Jersey Commercial Banking Division

WAYNE, NJ – November 13, 2018 -- Valley National Bancorp (NASDAQ:VLY), the holding company for Valley National Bank, recently announced several new key leadership appointments within the New Jersey Commercial Banking Division that will help the Bank grow its client base, deepen existing relationships and position Valley for sustainable growth well into the future.

Steve Vitale has been promoted to First Senior Vice President and Department Head for Valley’s New Jersey Commercial & Industrial (C&I) banking department. In this new role, Steve will be leading multiple New Jersey based teams responsible for leveraging the Bank’s commercial banking product platform for the benefit of new and existing commercial clients. Steve joined Valley in 2013 and was most recently a Senior Vice President and New Jersey C&I Divisional Manager.

Harry Prassakos has been promoted to Senior Vice President of Valley’s New Jersey C&I Banking Department. In this new role, Harry will lead the discussions and participate in the decision-making process for all new and existing New Jersey C&I commercial credit requests. Harry will report directly to Steve Vitale and will also be responsible for working with our New Jersey staff to ensure the seamless delivery of our solution-based commercial products. Harry joined Valley nearly three years ago and was most recently a First Vice President and Senior Credit Officer in the Credit Risk Management Department.
 
Fred Castrovinci has been named Senior Vice President, Divisional Manager of Valley’s Livingston Commercial Banking division on Mount Pleasant Avenue, in Livingston. Fred will report directly to Steve Vitale and is responsible for managing a staff tasked with developing middle-market commercial banking opportunities, as well as maintaining and growing existing relationships in the team portfolio. Fred joined Valley in 2001 as a Management Associate and has held various positions within Consumer Lending, ranging from Credit, Sales and Dealer Floor Plan Lending.  Over the last two years he has successfully lead the strategic direction of the Auto Lending Division, delivering remarkable results.   

“We wish Steve, Harry and Fred continued success as they transition into their new roles,” remarked Tom Iadanza, Senior Executive Vice President and Chief Banking Officer.    “With our new structure and our incredible talent, I am confident that we can continue to deliver outstanding results and maintain the momentum we’ve built over the past year.”

About Valley
As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with approximately $31 billion in assets. Valley is committed to giving people and businesses the power to succeed. Valley operates more than 230 branches 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 valley.com or call our Customer Service Center at 800-522-4100.