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Valley National Bancorp Receives Regulatory OKs for Westchester Bank Acquisition

October 28, 2021, 07:15 AM
Filed Under: Mergers & Acquisitions

Valley National Bancorp, the holding company for Valley National Bank, announced that regulatory approvals for the previously announced acquisition of The Westchester Bank Holding Corporation, and its banking subsidiary The Westchester Bank, has been received from the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System and the New York State Department of Financial Services.

No further regulatory approvals are required to complete the acquisition and merger of Westchester into Valley. Westchester stockholders had previously approved the merger on Oct. 5

The acquisition is anticipated to close on Dec. 1, pending the satisfaction of customary closing conditions.

The acquisition of the high-performing commercial bank will provide Valley National a physical footprint and additional commercial lending expertise in the demographically attractive Westchester County, NY, market.

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