Valley National Bancorp Announces Merger with Providence Financial

What Happened

• On August 25, 2026, Valley National Bancorp (Valley) and Providence Financial Corporation (Providence) announced they entered into an Agreement and Plan of Merger under which Providence will merge into Valley, with Valley surviving. Immediately after, Providence Bank & Trust (a Providence subsidiary) will merge into Valley National Bank (a Valley subsidiary), with Valley National Bank surviving.
• Valley disclosed that Valley common stock will be issued in connection with the transaction and said it intends to file a registration statement on Form S-4 (which will include the proxy statement/prospectus) to register the shares to be issued to Providence shareholders. A press release and an investor presentation were attached as Exhibits 99.1 and 99.2 to the 8-K.

Key Details

• Agreement date: August 25, 2026 (Agreement and Plan of Merger announced on this date).
• Transaction structure: Stock consideration expected; Valley to survive corporate merger and Valley National Bank to survive the bank-level merger.
• Regulatory and shareholder approvals required: Closing is subject to customary conditions, regulatory approvals, and Providence shareholder approval.
• Next filings: Valley expects to file a Form S-4 registering shares and including the proxy statement/prospectus for the Providence shareholder vote. No exchange ratio or purchase price was disclosed in this 8-K.

Why It Matters

• This is a strategic merger that will combine Providence and its bank into Valley and Valley National Bank; it will change ownership of Providence and increase Valley’s issued shares (potential dilution) because shares of Valley common stock will be issued to Providence shareholders.
• The deal remains subject to regulatory and shareholder approvals and closing conditions, so timing and completion are not guaranteed. Investors should watch the upcoming Form S-4/proxy statement for full transaction terms, the required approvals, and projected financial impacts.