AcquisitionAug 25, 2026Pending
🇺🇸 United States
PFProvidence Financial CorporationVNValley National Bancorp
Financial Institutions › Banks
Equity value$247MEquity value
AnnouncedAug 25, 2026
ConsiderationCash and stock
StructureOne-step merger
RegionNorth America
Cross-borderNo
Contingent paymentNo
Overview
Valley National Bancorp agreed to acquire Providence Financial Corporation, parent of Providence Bank & Trust, for estimated total consideration of $247 million. Providence shareholders were to receive 4.3854 shares of Valley common stock and $21.47 in cash per share.
Deal rationale
The acquisition expands Valley's retail, small business and low-cost core deposit presence in the Chicagoland market, complementing its existing commercial banking operations there.
AI-generated from the SEC filingPendingFinancial Institutions › BanksUnited StatesNorth America
Timeline
Valuation and terms
| Equity value | $247M | Headline figure |
|---|---|---|
| Enterprise value | Undisclosed | |
| Consideration | Cash and stock |
Advisors
Buy-side
TSTD Securities
Sell-side
SStifel
Parties
Target
PFProvidence Financial Corporation
- Headquarters
- United States
- Ticker
- —
Acquirer
VNValley National Bancorp
- Headquarters
- United States
- Ticker
- —