Valley National Bancorp to buy Providence Financial in USD 247 million deal

Providence shareholders to receive 4 shares of Valley stock and $21.47 cash per share; implied deal value about $247 million.

Valley expects roughly 2% earnings accretion; tangible book value impact under 1% at close with payback in under three years.

Closing targeted for early 2027; pro forma balance sheet shows $67.9 billion assets, $55.5 billion deposits, $53.5 billion loans.

Valley National Bancorp agreed to acquire Providence Financial, expanding its Chicagoland footprint with Providence Bank & Trust’s 14 branches.

Providence reported $1.6 billion assets, $1.3 billion deposits, $1.1 billion loans, $800 million wealth AUM as of June 30, 2026.