Valley National Bank to acquire Chicago-area lender for $247M
Acquiring Providence Bank & Trust would give the $66 billion-asset regional bank a branch footprint in a market where it operates a single commercial office.
Acquiring Providence Bank & Trust would give the $66 billion-asset regional bank a branch footprint in a market where it operates a single commercial office.
BELLINGS Intelligence Score: 31
Why it matters
The acquisition expands Valley National Bank's regional footprint and is a notable regional banking development, but it is a routine-sized transaction without broader systemic or market-structural impact.
Sources
Banking Dive
Valley National Bank to acquire Chicago-area lender for $247M
Acquiring Providence Bank & Trust would give the $66 billion-asset regional bank a branch footprint in a market where it operates a single commercial office.