Valley National Bank
|This article relies too much on references to primary sources. (January 2010)|
|Trading name||Valley National Bank|
|Traded as||NYSE: VLY|
|Founded||Passaic, New Jersey, U.S. (1927 )|
|Headquarters||Wayne, New Jersey, U.S.|
Valley National Bancorp (NYSE:VLY) is a regional bank holding company headquartered in Wayne, New Jersey with nearly $16 billion in assets after the acquisition of State Bankcorp. Its principal subsidiary, Valley National Bank, currently operates 211 branches in 147 communities serving 16 counties throughout northern and central New Jersey, Manhattan, Brooklyn, Queens and Long Island. Valley National Bank is one of the largest commercial banks headquartered in New Jersey.
Valley National 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 located in Clifton, New Jersey. At the same time, the name was changed to the Bank of Passaic and Clifton. The acquisition of the Bank of Wayne in 1976 created a need for a new identity, and the name Valley National Bank was chosen.
From its founding in 1927 until 1999 Valley National Bank was based in Passaic, New Jersey. That year, following the acquisition of Wayne-based Ramapo Bank, Valley National moved its headquarters to Wayne.
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