WAYNE, N.J., May 16 /PRNewswire-FirstCall/ -- Valley National Bancorp
(NYSE: VLY) announced today that it has received all regulatory and
shareholder approvals necessary to complete the previously announced
acquisition of NorCrown Bank.
It is expected that the merger between Valley National Bank and NorCrown
Bank will take place during the first week of June.
NorCrown is a commercial bank with approximately $600 million in assets
and 15 branch offices located in 12 communities in Essex, Hudson and Morris
Counties. Pursuant to the agreement, NorCrown Bank will be merged into Valley
National Bank.
Valley National Bancorp is a regional bank holding company with $11.4
billion in assets, headquartered in Wayne, New Jersey. Its principal
subsidiary, Valley National Bank, currently operates 146 offices in 97
communities serving 12 counties throughout northern and central New Jersey and
Manhattan.
Cautionary Statement Concerning Forward-Looking Statements
The foregoing contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Such statements are not
historical facts and include expressions about management's confidence and
strategies and management's expectations about acquisitions, relationships and
opportunities. These statements may be identified by such forward-looking
terminology as "expect" or similar statements or variations. Such forward-
looking statements involve certain risks and uncertainties. Actual results
may differ materially from such forward-looking statements. Valley assumes no
obligation for updating any such forward-looking statement at any time.
Factors that may cause actual results to differ materially from those
contemplated by such forward-looking statements include, but are not limited
to, changes in the estimate of cost saves or one time charges and success in
retaining NorCrown customers and employees.
SOURCE Valley National Bancorp
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Related links:
http://www.valleynationalbank.com
Company News On-Call:
http://www.prnewswire.com/comp/141340.html
CONTACT:
Dianne M. Grenz, Senior Vice President
Director of Public & Shareholder Relations, +1-973-305-3380
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