Valley National Bancorp · NASDAQ:VLY
Valley National Bancorp — Merger or Acquisition (June 2021)
10 slides from Valley National Bancorp's merger presentation, Jun 29, 2021
Slide 1: Valley to Acquire The Westchester Bank
Exhibit 99.2 V a l l e y t o A c q u i r e T h e W e s t c h e s t e r B a n k J u n e 2 9 , 2 0 2 1Exhibit 99.2 V a l l e y t o A c q u i r e T h e W e s t c h e s t e r B a n k J u n e 2 9 , 2 0 2 1
Slide 2: Important Information and Where to Find It
Important Information and Where to Find It This presentation does not constitute an offer to sell or the solicitation of an offer to buy a ny securities or a solicitation of any vote or approval with respect to the proposed acquisition by Valley National Bancorp (“Valley”) of The Westchester Bank Ho
Slide 3: Forward Looking Statements
Forward Looking Statements This communication contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management’s confidence and strategies and management’s expectations ab
Slide 4: Transaction Highlights
Transaction Highlights 4 ▪ Natural Expansion of Physical Footprint into Dynamic Westchester County Market ─ Deep pool of diverse commercial businesses including in industries such as manufacturing, fintech, bioscience, and clean energy ─ $100k+ median household income is additive to Valley demograph
Slide 5: Overview of The Westchester Bank
Overview of The Westchester Bank 5 1 Westchester Financial Highlights (as of 3/31/2021) Westchester Total Assets: $1,313mm Gross Loans: $910mm Total Deposits: $1,116mm Net Income (MRQ, annualized): $16.1mm ROAA (MRQ, annualized): 1.29% Net Interest Margin (MRQ, annualized): 3.10% Efficiency Ratio (M
Slide 6: Balance Sheet & Asset Quality Overview
Balance Sheet & Asset Quality Overview 6 Gross Loans (as of 3/31/2021) Total Deposits (as of 3/31/2021) Total Loans: $910mm (4.23% yield) Total Deposits: $1,116mm (0.31% cost) C&I Money 32% Market Multifamily 51% 11% CRE - Owner Occ. Residential 17% RE Savings 4% Time 2% Construction 9% 3% Interest
Slide 7: Westchester County Highlights
Westchester County Highlights 7 Market Overview Median Household Income ($) ▪ $59 billion deposit market (1.6% market share pro forma) 102,782 dominated by nationwide and international institutions which Valley competes well against 85,954 ▪ ~34,000 firms in diverse industries including advanced man
Slide 8: Transaction Terms & Financial Impact
Transaction Terms & Financial Impact 8 ▪ Approximately $210 million in common stock for common stockholders and approximately $10 million 1 in cash for optionholders ▪ 100% stock for each outstanding share of Westchester, approximately 15.6 million Valley shares issued Consideration (fixed exchange
Slide 9: Summary
Summary 9 ▪ High-Quality Partner With a Track Record of Strong Asset Quality ▪ Expansion of Physical Footprint into Dynamic and Contiguous Westchester County Market ▪ Experienced Leadership Team Focused on Servicing Commercial Clients ▪ Low Integration Risk Given Relative Size and Valley’s Familiari
Slide 10: For More Information
For More Information 10 ▪ Log onto our website: www.valley.com ▪ Email requests to: tlan@valley.com ▪ Call Travis Lan in Investor Relations, at: (973) 686-5007 ▪ Write to: Valley National Bank 1455 Valley Road Wayne, New Jersey 07470 Attn: Travis Lan, SVP – Director, Corporate Finance & Business Dev
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