Valley National (VLY) to Acquire USAmeriBancorp for $816M

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Go back to Valley National (VLY) to Acquire USAmeriBancorp for $816M

Valley National Bancorp To Acquire USAmeriBancorp, Inc. And Substantially Enhance Its Florida Franchise

July 26, 2017 8:00 AM EDT

WAYNE, N.J., July 26, 2017 /PRNewswire/ -- In a merger of two banks with a similar focus on personal service and community involvement, Valley National Bancorp ("Valley") (NYSE: VLY) announced today that it is expanding its Florida presence and moving into Alabama by acquiring USAmeriBancorp, Inc. ("USAB") (OTC Pink: USAB).

The companies have entered into a merger agreement in which the common shareholders of USAB will receive 6.1 shares of Valley common stock for each USAB share they own, subject to adjustment in the event Valley's... More