Valley National Bank
|This article relies too much on references to primary sources. (January 2010)|
|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 over $19 billion in assets. Valley National Bank, the wholly owned subsidiary of Valley National Bancorp, currently operates over 200 branches in 166 communities serving 24 counties throughout northern and central New Jersey, Manhattan, Brooklyn, Queens, Long Island and Florida. Valley National Bank is one of the largest commercial banks headquartered in New Jersey and is committed to providing quality service and an experienced and knowledgeable staff with a high priority on friendly customer service 24 hours a day, 7 days a week.
Valley National Bank provides a wide array of consumer, commercial and banking services in a personable, friendly and approachable manner. Valley's comprehensive delivery channels enable customers to bank in person, on their mobile devices, online or by telephone (1-800-522-4100).
Valley in the Community
As a commercial bank with deep roots in our communities, Valley is dedicated to improving the quality of life in the neighborhoods where we do business. Valley has continued to help the local communities in New Jersey, Manhattan, Brooklyn, Queens, Long Island and Florida prosper. We continue to support civic and charitable causes throughout our market by contributing time, talent and financial resources. Whether it is providing credit for affordable housing projects or supporting local charities, we feel that it is our responsibility to give back to the neighborhoods that we serve. To find out more and see our latest updates, go to Valley in the community.
Some of Valley's ongoing community initiatives include:
•Host an annual Breast Cancer walk titled “Valley Goes Pink!” to raise funds to support research to find a cure for breast cancer. All proceeds are donated to the Cure Breast Cancer Foundation (CBCF).
•Financial literacy programs aimed to help students of all ages and organizations understand a multitude of topics ranging from; Introduction to Personal Finance, Setting Personal and Financial Goals, Investing, Saving, Budgeting and Protecting your Financial Identity among other topics.
•Partner with the American Red Cross to host an annual employee blood drive.
•The annual Samuel F. Riskin Memorial Award and John L. Soldoveri Scholarship reward Bank employees and/or their children with a scholarship to be used towards higher education costs. The Samuel F. Riskin award was created as a way to keep alive the memory of Samuel F. Riskin who served as Chairman of the Board, President and CEO of Valley National Bank for 40 years. The John L. Soldoveri Scholarship was established by Greater Community Bancorp prior to joining Valley National Bank in honor of its founder.
•Partner with USA SHRED to host a monthly Identity Theft Awareness Event at different branch locations. USA SHRED provides an on-site truck to shred personal and confidential documents, at no cost, to help customers avoid becoming victims of identity theft. Staff members are present on-site to discuss effective measures that can be used to reduce the risk of fraud and identity theft. To find out where and when our next SHRED event is taking place, go to our events page.
Valley National Bank expanded into Florida in 2014 with its acquisition of Boca Raton’s 1st United Bancorp, Inc. and its wholly owned subsidiary, 1st United Bank. The acquisition has provided Valley National Bank entry into Florida’s high growth market, beyond its traditional Northeastern footprint. With this acquisition, Valley National Bank has added a solid institution with very strong demographics located in some of the most attractive areas of Florida that will provide the necessary foundation for future growth opportunities in the region. With Valley’s larger lending limits, broad range of consumer loan products, joined with trust, insurance and investment advisory services, the expansion provides added flexibility and opportunities for the Florida Division to grow the Valley franchise in Florida.
Valley’s Florida presence consists of 20 branch locations throughout Miami-Dade, Broward, Palm Beach, Indian River, Brevard, Orange, Hillsborough and Pinellas counties. 1st United Bank’s executive and operations center in West Palm Beach, Florida has become Valley’s Florida Regional Office. As the Executive Vice President and President of Valley’s Florida Division, Rudy Schupp, and his experienced team of bankers continue to lead Valley’s expansion efforts in Florida.
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.
Since 1976, Valley has been committed to an expansion strategy dedicated to the highest level of service, and it has continued to grow and strengthen its regional commitment through the following acquisitions:
List of Acquisitions
- 1956 Purchased The Bank of Allwood (Clifton)
- 1976 The Name Valley National Bank Chosen
- 1976 Acquired The Bank of Wayne
- 1977 Acquired Bankers National Bank (Elmwood Park)
- 1981 Acquired Liberty National Bank (Hillsdale)
- 1982 Acquired Fair Lawn State Bank
- 1983 Formed Valley National Bancorp
- 1984 Purchased First National Bank and Trust Co. of Kearny
- 1990 Purchased Mayflower Savings Bank (Livingston)
- 1991 Acquired the Deposits from RTC for
- North Jersey Savings (Clifton)
- First Jersey Savings (Wyckoff)
- Nutley Savings
- Yorkwood Savings (Warren)
- 1992 Acquired Powder Mill Bank (Morris Plains)
- 1993 Acquired People's Bank (Fairfield)
- 1994 Acquired Rock Bank (N. Plainfield)
- 1995 Acquired American Union Bank (Union)
- 1995 Acquired Lakeland Savings Bank (Succasunna)
- 1997 Acquired Midland Bancorp (Paramus)
- 1998 Acquired Wayne Bancorp
- 1999 Acquired Commonwealth All Service Title Agency
- 1999 Acquired Ramapo Financial Corporation (Wayne)
- 1999 Acquired New Century Asset Management
- 2000 Acquired Hallmark Capital Management, Inc
- 2001 Acquired Merchants Bank of New York
- 2001 Acquired Valley Commercial Capital, LLC
- 2002 Acquired Masters Coverage Corp.
- 2002 Acquired NIA/Lawyers Title Agency, LLC
- 2005 Acquired Shrewsbury State Bank (Shrewsbury)
- 2008 Acquired Greater Community Bank (Totowa)
- 2010 Acquired LibertyPointe Bank (FDIC Acquired)
- 2010 Acquired The Park Avenue Bank (FDIC Acquired)
- 2012 Acquired State Bank of Long Island (Jericho)
- 2014 Acquired 1st United Bancorp Inc. (Boca Raton)
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