secwatch.observer — SEC 8-K summary
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Issuer:     VALLEY NATIONAL BANCORP (VLY)
CIK:        0000714310
Form:       8-K
Filed at:   2022-04-01T23:59:59+00:00
Accession:  0001193125-22-092782
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 2.01, 3.02, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/714310/000119312522092782/0001193125-22-092782-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/714310/000119312522092782/d330167d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-092782

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer