Valley National to buy Providence Financial for $247M; ~2% EPS accretive at close

VALLEY NATIONAL BANCORP

Deal: 4.3854 Valley shares + $21.47 cash per Providence share; total ~$247M based on VLY $14.10 close.
Providence: ~$1.6B assets, $1.3B deposits, $1.1B loans, $800M wealth AUM across 14 branches as of 6/30/26.
Expected ~2% accretive to EPS, <1% dilutive to tangible book value; earnback <3 years.
Pro forma combined: ~$67.9B assets, $55.5B deposits, $53.5B loans; ~$1.6B Chicago deposits.
Close expected early 2027, pending Providence shareholder approval and regulatory clearance.

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