Regional bank weighed down by CRE loans goes back on offense
Valley National Bancorp (VLY) announced a $247M acquisition of Providence Financial, aiming to grow its Chicago presence. The deal, expected to close in early 2027, is 2% accretive to earnings. Valley has reduced its CRE loan concentration, with the ratio falling from 474% to 317% since 2023. Providence's low funding costs and strong performance are key benefits.




