(PARSIPPANY, May 9, 2014) - Day Pitney represented Valley National Bancorp in its $312 million acquisition of 1st United Bancorp of Florida.
The transaction, which was announced on Thursday, includes the acquisition of 1st United Bank's approximately $1.7 billion in assets, $1.2 billion in loans and $1.4 billion in deposits. The Florida-based bank has 21 branches located in the "most attractive urban banking markets in Florida," according to the two companies' joint press release.
The combined company is expected to have approximately $18.1 billion in assets, $12.9 billion in loans, $12.7 billion in deposits, 225 branches covering northern and central New Jersey, New York (including Manhattan, Brooklyn, Queens and Long Island), and southeast and central Florida.
The Day Pitney legal team advising Valley National, includes corporate partners Michael Rave and Ronald Janis, counsel Richard Leu and associates Elizabeth Kim. The corporate team was assisted by partners David Doyle advising on executive compensation and benefits, Steve Ziobrowski with associate Andrew Wogman on tax and Colleen Donovan on real estate matters.
About Day Pitney
Day Pitney LLP is a full-service law firm with close to 300 attorneys in New Jersey, Connecticut, New York, Boston and Washington, DC. The firm offers clients strong corporate and litigation practices, with experience on behalf of large national and international corporations as well as emerging- and middle-market companies and individuals.
On January 27, Michael Rave will be speaking on "Public & Private Capital Raising: How To Fund Your Bank for Growth and/or Change" at Bank Director's annual conference, Acquire or Be Acquired, in Phoenix, AZ.
Brian Fischer spoke on "Defining Success from a Legal Perspective – How to Best Structure the Transaction to Meet the Owner's Objectives while Providing Significant Legal Protection," at an Exit Planning Exchange (XPX) Hartford program.
Michael Rave will be speaking at Acquire or Be Acquired, an annual conference presented by Bank Director magazine being held in Phoenix from January 28 – 30.
On January 19, Michael Rave will be speaking at the Economic Leadership Forum, presented by the New Jersey Bankers Association.
Stephen Ziobrowski and Andrew Wogman authored the article "Challenges of Selling an S Corporation," which was published by Law360.
Gary Betensky and Michael Napoleone were featured in a profile, "Day Pitney LLP: Firm Expands to Better Serve South Florida Clients," published in the March issue of The Boca Raton Observer magazine.
Mike Rave was quoted in an analysis article, "Reg Rollbacks Seen As Bit Player In $28B BB&T-SunTrust Deal," published by Law360.
Jed Davis was quoted in an article, "Marriott Hack Shows Risks Of Lax Cyber Diligence In Mergers," published by Law360.
Day Pitney Press Release
Day Pitney Press Release