Valley National Bancorp to buy Bluevine for $340 million
VLY•Valley National Bancorp agreed to acquire Bluevine for about $340 million, with 75% of the price paid in cash and 25% in stock. The deal adds $2.1 billion in deposits and is expected to be about 8% accretive to 2028 earnings per share.
1. Deal terms and impact
The acquisition of digital small-business banking platform Bluevine is expected to add about 175,000 active small-business customers and $2.1 billion in low-cost, digitally sourced deposits to Valley National Bancorp. The transaction is expected to be about 8% accretive to 2028 earnings per share, with about 5% tangible book value dilution and a roughly three-year earnback.
2. Bluevine growth and closing
Bluevine’s deposits grew about 35% annually from 2023 through the second quarter of 2026, and about 99% come from customers who do not borrow. Closing is targeted for early 2027; Bluevine CEO Eyal Lifshitz is set to become head of small business banking after the deal closes.
