Valley National Bancorp · NASDAQ:VLY
Valley National Bancorp — Merger or Acquisition (August 2026)
17 slides from Valley National Bancorp's merger presentation, Aug 25, 2026
Slide 1: Valley to Acquire Providence Financial Corporation
Exhibit 99.2 Valley to Acquire Providence Financial Corporation Accelerating Growth in Attractive Chicago Market August 25, 2026
Slide 2: Cautionary Note Regarding Forward-Looking Statements
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 related to, among other things, the strategy, plans, beliefs, goals, intentions, and expectations of Valley National
Slide 3: Important Information and Where to Find It
Important Information and Where to Find It Valley intends to file with the SEC a registration statement on Form S-4 to register the shares of Valley common stock to be issued to the shareholders of Providence in connection with the proposed transaction. The registration statement will include a prox
Slide 4: Strategically Compelling Acquisition of Providence
Strategically Compelling Acquisition of Providence The Acquisition of Providence Is a Continuation of Recent Investments To Enhance Our Funding Profile, Expand In Attractive Target Markets, and Accelerate Retail and Small Business Growth ✓ Growing Core Deposits: Adds $1.35bn of Low-Cost Core Deposit
Slide 5: Overview of Providence
Overview of Providence Chicago Community Bank With Differentiated Low-Cost Core Deposit Franchise, Strong Standalone Profitability, Low-Risk Credit Profile, and Deep Ties to Local Community Since Its Founding in 2004 Deposit Mix Balance Capital & Profitability Sheet Credit Time Non-Interest Bearing
Slide 6: Low-Cost Deposit Franchise Driven by Long-Term Relationships
Low-Cost Deposit Franchise Driven by Long-Term Relationships Cost of Total Deposits (Q2'26) Providence Deposit Portfolio Overview 2.28% $1.35bn 26% Total Deposits Non-Interest Bearing 1.89% 0% 70% 1.77% Brokered Deposits FDIC Insured 1.49% 3 $96mm >12 Years Deposits / Branch Average Account Age 99%
Slide 7: Creating a Full-Service Chicago Banking Platform
Creating a Full-Service Chicago Banking Platform Meaningfully Increases Chicago Scale Combined Chicago Franchise Valley Entered Chicago in 2022 Through Its Acquisition of Bank Leumi USA Providence Brings Low-Cost Funding Base To Support Faster Commercial Lending Growth Chicago Loans ($bn) P $1.9 Val
Slide 8: Desirable Chicago Market
Desirable Chicago Market Chicago Highlights $886bn $601bn ~25% Size and 1 2 Gross Regional Product Total Deposits Community Bank Opportunity 3 Deposit Share #3 in the US #3 in the US 9.4mm 4.7mm 3.6mm Demographics Total Population Total Employment Total Households '26 – '31 Projected Median HHI Grow
Slide 9: Positioned for Sustained Growth in Dynamic Markets
Positioned for Sustained Growth in Dynamic Markets 1 Valley Currently Operates in 5 of the 6 Largest MSAs As Measured by Total Deposits 3 Key Demographic Metrics Median Proj. HHI Population Household Growth Number of (2026) Income (HHI) (2026-31) Businesses Market Retail Presence Key Business Lines
Slide 10: Transaction Terms
Transaction Terms ▪ Fixed Exchange Ratio: 4.3854x VLY shares and $21.47 in cash per Providence share – ~74% stock / ~26% cash Structure & Consideration – Approximately 13 million shares issued to Providence ▪ Pro Forma Ownership: Valley 98% / Providence 2% Disciplined Pricing (P / TBV) 1.65x ▪ Trans
Slide 11: Financial Impacts
Financial Impacts ▪ Cost Savings: ~25% of non-interest expenses or $10mm (pre-tax); 75% phase-in during 2027, 100% thereafter Key ▪ Restructuring Charges: 1.7x cost savings or $17mm (pre-tax) Assumptions ▪ Core Deposit Intangibles: 3.0% of Providence's non-time deposits of $1.0bn; amortized over 10
Slide 12: Summary Observations
Summary Observations Furthers Valley's Long-Term Strategic Growth Imperatives To Diversify Core Deposits, Loans and Fee Income P Acquiring A High-Performing Franchise With Strong Profitability, Credit, Leadership, and Scalable Long-Term Local Relationships in the Chicago Market P Low-Cost Retail Dep
Slide 13: Appendix
Appendix 13
Slide 14: Valley's Successful Acquisition Track Record
Valley's Successful Acquisition Track Record Supplements Consistent Organic Growth M&A Track Record & Strategy Bank Acquisitions Since 2012 1 7 Acquisitions $24.4 Billion Year Target State Assets Successfully completed Total assets acquired PP since 2012 since 2012 2 2027 IL $1.6bn Geographic Divers
Slide 15: Rigorous Due Diligence Completed
Rigorous Due Diligence Completed ✓ Comprehensive Diligence Process Reinforced Strategic Rationale and Confirmed Cultural Alignment ✓ Detailed Credit Review Completed by Internal Team of 10 Seasoned Credit Reviewers ✓ Track Record of Successful Integration and Realization of Cost Savings Extensive Cr
Slide 16: Shared Commitment to Our Communities
Shared Commitment to Our Communities Valley Has Committed $3 Million Over the Next Three Years To Support Chicago-Based Civic, Nonprofit, and Community Organizations $16mm $6.8mm+ Outstanding Donated Since Founding Charitable Giving CRA Rating Supporting Community Needs Including Education, Human Se
Slide 17: For More Information
For More Information ▪ Go to our website: www.valley.com ▪ Email requests to: ajianette@valley.com ▪ Call Andrew Jianette in Investor Relations at: (551) 288-3182 ▪ Go to our website above or www.sec.gov to obtain free copies of documents filed by Valley with the SEC © 2026 Valley Bank. All rights r
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