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Stock impact report

Valley National Bancorp Completes its Merger of Oritani Financial Corp

Valley National Bancorp (VLY)  More Company Research Source: GlobeNewswire
Last valley national bancorp earnings: 10/24 08:30 am Check Earnings Report
US:NYSE Investor Relations: valleynationalbank.com
PDF NEW YORK, Dec. 02, 2019 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY) (“Valley”) announced that its merger with Oritani Financial Corp. (“Oritani”) (NASDAQ: ORIT) was completed effective December 1, 2019. Valley will issue approximately 72 million shares of common stock in the transaction. The common shareholders of Oritani will receive 1.60 shares of Valley common stock for each Oritani share that they own. Effective December 1, 2019, Oritani’s wholly-owned subsidiary, Oritani Bank, was merged into and under the name Valley National Bank. As of September 30, 2019, Oritani had approximately $4.0 billion in assets, $3.4 billion in net loans, $2.9 billion in deposits and a branch network of 26 locations. The acquisition represents a significant addition to Valley's New Jersey franchise, and will meaningfully enhance its presence in the Bergen County market. Full systems integration is expected to be completed near the end of the first quarter of 2020. Ira Robbins, CEO of [Read more]
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