Valley National Bancorp to buy Providence Financial in USD 247 million deal

• Valley National Bancorp agreed to acquire Providence Financial, expanding its Chicagoland footprint with Providence Bank & Trust’s 14 branches.
• Providence reported $1.6 billion assets, $1.3 billion deposits, $1.1 billion loans, $800 million wealth AUM as of June 30, 2026.
• Providence shareholders to receive 4 shares of Valley stock and $21.47 cash per share; implied deal value about $247 million.
• Valley expects roughly 2% earnings accretion; tangible book value impact under 1% at close with payback in under three years.
• Closing targeted for early 2027; pro forma balance sheet shows $67.9 billion assets, $55.5 billion deposits, $53.5 billion loans.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Valley National Bancorp published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202608250830PRIMZONEFULLFEED9815345) on August 25, 2026, and is solely responsible for the information contained therein.