---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-092782"
form_type: "8-K"
ticker: "VLY"
cik: "0000714310"
company_name: "VALLEY NATIONAL BANCORP"
filed_at: "2022-04-01T23:59:59+00:00"
generated_at: "2026-06-26T11:13:42.786665+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Valley National Bancorp completes acquisition of Bank Leumi USA for ~$1.2B

## Summary
- Total consideration: ~85M shares of Valley common stock + $113M cash, valued at ~$1.2B.
- Bank Leumi USA held $8.3B assets, $5.8B commercial loans, $7.1B low-cost deposits as of Dec 31, 2021.
- Former Bank Leumi CEO Avner Mendelson joins Valley Board as Vice-Chairman; Ronen Agassi also appointed.
- Investor rights agreement with parent BLITA includes director designation rights and a 4-year lock-up period.
- Acquisition adds technology and private banking capabilities, enhancing Valley's commercial banking footprint.

## SEC filing metadata
- accession: 0001193125-22-092782
- form_type: 8-K
- ticker: VLY
- cik: 0000714310
- company_name: VALLEY NATIONAL BANCORP
- filed_at: 2022-04-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.01, 3.02, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/714310/000119312522092782/0001193125-22-092782-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/714310/000119312522092782/d330167d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-092782
- JSON: https://secwatch.observer/filing/0001193125-22-092782.json
- Plain text: https://secwatch.observer/filing/0001193125-22-092782.txt

## Key facts
- Executive change
  Avner Mendelson was appointed as director at VALLEY NATIONAL BANCORP.
  - Action: appointed
  - Role: director
  source text: Avner Mendelson and Ronen Agassi (collectively, the “New Directors”) being appointed to fill the newly created vacancies on the Valley Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/714310/000119312522092782/0001193125-22-092782-index.htm
- Executive change
  Ronen Agassi was appointed as director at VALLEY NATIONAL BANCORP.
  - Action: appointed
  - Role: director
  source text: Avner Mendelson and Ronen Agassi (collectively, the “New Directors”) being appointed to fill the newly created vacancies on the Valley Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/714310/000119312522092782/0001193125-22-092782-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.