 NEW YORK, Sept. 23, 2021 GLOBE NEWSWIRE -- Valley National Bancorp Valley NASDAQ: VLY and Bank Leumi Le-Israel Corporation Leumi announced today that they have entered into a definitive merger agreement whereby Valley will acquire Leumi, the US subsidiary of Bank Leumi Le-Israel B.M., and parent company of Bank Leumi USA Bank Leumi. This strategic combination broadens Valleys commercial product offerings and enhances Valleys funding verticals. As a result of the mutually beneficial transaction, Valley will greatly expand its technology and venture capital banking business, and Bank Leumi Le-Israel B.M. will enhance its exposure to the U.S. banking market. This combination further solidifies Valleys position as a top-tier, relationship-focused commercial bank. The pro forma company will be the 29th largest publicly traded U.S. bank by assets1, and will be well-positioned for strong, sustainable, and diversified growth. 