Day Pitney is pleased to announce that it recently advised Valley National Bancorp (Valley) on its $816 million acquisition of USAmeriBancorp, Inc. (USAB). The merger of the two banks allows Valley National, which is located primarily in New York and New Jersey, to grow its Florida presence and expand into Alabama.
Upon completion of the merger with Clearwater, Florida-based USAB, Valley and its wholly-owned subsidiary, Valley National Bank, will have 230 branches throughout New Jersey, New York, Florida and Alabama and approximately $28 billion in assets, $21 billion in loans and $21 billion in deposits.
The merger marks Valley's third acquisition in Florida since 2014 and is consistent with the bank's goal of expanding in the high growth markets of Florida. In addition to the merger, Day Pitney also guided Valley in the commencement of a preferred stock offering of approximately $100 million.
The Day Pitney team included by Tristan Schmidt, Richard Leu, Casey O'Connor, Antoinette Solomon, David Doyle, Stephen Ziobrowski, Andrew Wogman and Colleen Donovan.
More information on this matter can be found here.
Day Pitney Press Release
Day Pitney Partners Gretchen Blauvelt-Marquez, Michael Fitzpatrick, James Leva, Nicole Magdiziak and Thomas O'Mullane's promotion to partnership and Partner Todd Terhune's arrival to the firm were featured in the New Jersey Law Journal's New Partners Yearbook 2023.
Day Pitney's election of 11 new partners was featured in Law360 Pulse article, "Day Pitney Elevates 11 To Partner."
Day Pitney Real Estate and Land Use Partner Nicole Magdziak's promotion to partner was featured in Real Estate NJ's article, "Day Pitney Real Estate, Land Use Lawyer in New Jersey Named Partner."
Day Pitney Press Release
Day Pitney Press Release
Day Pitney Technology Partners Kritika Bharadwaj and Richard Harris authored an article titled, "Attack of the Crypto Acronyms! ICOs, STOs, IEOs, IDOs – What is What?" that was published on TabbFORUM, an open community that provides a platform for capital markets professionals to share their ideas and thought leadership with their peers.
Day Pitney Press Release
Day Pitney Partner Michael Kaufman was featured in a Law360 Pulse Q&A discussing his new position as chair of the firm's Institutional Finance and Commercial Lending group.
Day Pitney Stamford Partner Michael Kaufman's new role as chair of the firm's Institutional Finance and Commercial Lending group was featured in Law360 Pulse.