Greater Community Bancorp (NASDAQ:GFLS)
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From Jun 2019 to Jun 2024
Valley National Bancorp (NYSE:VLY) (“Valley”)
and Greater Community Bancorp (NASDAQ:GFLS) (“Greater
Community”) jointly announced today that all
regulatory and shareholder approvals necessary to complete the
previously announced merger of Greater Community with and into Valley
have been received.
It is expected that the merger between Valley and Greater Community will
take place on July 1, 2008.
Valley is a regional bank holding company with over $12 billion in
assets, headquartered in Wayne, New Jersey. Its principal subsidiary,
Valley National Bank, currently operates 177 branches in 123 communities
serving 14 counties throughout northern and central New Jersey,
Manhattan, Brooklyn and Queens.
For more information about Valley National Bank and its products and
services, please visit www.valleynationalbank.com
or call Customer Service 24/7 at 1-800-522-4100.
Greater Community is a bank holding company with approximately $967
million in assets. Its commercial banking subsidiary, Greater Community
Bank, has 16 full-service branch offices located in Bergen, Morris, and
Passaic Counties. Pursuant to the merger agreement, Greater Community
Bank will be merged with and into Valley National Bank.
Cautionary Statement Concerning Forward-Looking Statements
The foregoing 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 about
acquisitions, relationships and opportunities. These statements may be
identified by such forward-looking terminology as “expect”
or similar statements or variations. Such forward-looking statements
involve certain risks and uncertainties. Actual results may differ
materially from such forward-looking statements. Valley and Greater
Community assume no obligation for updating any such forward-looking
statement at any time. Factors that may cause actual results to differ
materially from those contemplated by such forward-looking statements
include, but are not limited to, the following: failure to satisfy
conditions to the merger on the proposed terms and within the proposed
timeframes; the inability to realize expected cost savings and synergies
from the merger of Greater Community with Valley in the amounts or in
the timeframe anticipated; changes in the estimate of non-recurring
charges; costs or difficulties relating to integration matters might be
greater than expected; material adverse changes in Valley’s
or Greater Community’s operations or earnings;
the inability to retain Greater Community’s
customers and employees; or a decline in the economy in Valley’s
primary market areas, mainly in New Jersey and New York.