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Announced

Completed

Valley National Bancorp completed the acquisition of Westchester Bank Holding in a $210m deal.

Financials

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Transaction Value£151m
Consideration TypeOrdinary Shares, Cash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Majority

Private

bank holding company

Domestic

Friendly

Merger

Single Bidder

Acquisition

United States

Banks

Completed

Synopsis

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Valley National Bancorp, a regional bank holding company, completed the acquisition of Westchester Bank Holding, the largest independent commercially focused bank headquartered in Westchester County, in a $210m deal. "We are thrilled about our new partnership with Valley and the opportunities for growth that it will provide for our employees and customers. The infrastructure and culture that has been built at Valley over the past few years will enable our customers to access a robust product offering while still receiving access to the local decision making and exceptional service they have become accustomed to at The Westchester Bank," John Tolomer, Westchester President and CEO.

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