Valley National Bancorp is a regional bank holding company headquartered in Wayne, New Jersey. Its principal subsidiary, Valley National Bank, operates 209 branches in 30 counties in northern and central New Jersey, Manhattan, Brooklyn, Queens, Long Island and Florida.
Video Valley National Bank
History
The bank was founded in 1927 as the Passaic Park Trust Company.
The bank changed its name in the mid-1930s to the Bank of Passaic and Trust Company.
In 1956, the bank acquired the Bank of Allwood based in Clifton, New Jersey and the name was changed to the Bank of Passaic and Clifton.
In 1976, after the acquisition of the Bank of Wayne, the bank was renamed Valley National Bank.
In 1977, Acquired Bankers National Bank (Elmwood Park)
In 1981, Acquired Liberty National Bank (Hillsdale)
In 1982, Acquired Fair Lawn State Bank
In 1983, Formed Valley National Bancorp
In 1984, Purchased First National Bank and Trust Co. of Kearny
In 1989, Samuel F. Riskin, the chairman and chief executive officer of the company, retired. Riskin had been appointed president in 1953. Under his leadership, the bank's assets grew from $40 million to $3 billion. Riskin died in 1992.
In 1990, Purchased Mayflower Savings Bank (Livingston)
In 1991, Acquired the Deposits from RTC for North Jersey Savings (Clifton) / First Jersey Savings (Wyckoff) / Nutley Savings / Yorkwood Savings (Warren)
In 1992, Acquired Powder Mill Bank (Morris Plains)
In 1993, Acquired People's Bank (Fairfield)
In 1994, the bank acquired Rock Financial Corporation for $45.8 million in stock.
In 1995, Acquired Lakeland Savings Bank
In 1995, Acquired American Union Bank (Union)
In 1997, Acquired Midland Bancorp (Paramus)
In 1998, Acquired Wayne Bancorp
In 1999, Acquired Commonwealth All Service Title Agency
In 1999, Acquired New Century Asset Management Co.
In 1999, following the acquisition of Wayne-based Ramapo Bank, the bank moved its headquarters to Wayne, New Jersey.
In 2000, Acquired Hallmark Capital Management, Inc.
In 2000, the bank acquired Merchants Bank for $375 million in stock.
In 2001, Acquired Valley Commercial Capital, LLC
In 2002, Acquired Masters Coverage Corp.
In 2002, Acquired NIA/Lawyers Title Agency, LLC
In 2004, the bank acquired Shrewsbury Bancorp for $136 million.
In 2005, Acquired NorCrown Bank (Livingston)
In 2008, Acquired Greater Community Bank (Totowa)
In 2010, Acquired LibertyPointe Bank (FDIC Acquired)
In 2010, Acquired The Park Avenue Bank (FDIC Acquired)
In 2012, Acquired State Bank of Long Island (Jericho)
In 2014, the bank acquired 1st United Bancorp.
In 2015, the company acquired CNLBancshares.
In 2017, the bank acquired USAmeriBancorp for $816 million.
In 2018, Ira Robbins appointed CEO and President
In 2018, the holding company of Valley National Bank, announced that its merger with USAmeriBancorp, Inc. ("USAB") (OTC Pink: USAB) was completed effective January 1, 2018.
Maps Valley National Bank
References
External links
Source of article : Wikipedia
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