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Valley National Bancorp To Acquire USAmeriBancorp in $816M Deal

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Barack Ferrazzano Represents USAmeriBancorp

The Barack Ferrazzano Financial Institutions Group is acting as legal counsel for USAmeriBancorp, Inc. ("USAB") (OTC Pink: USAB), and its wholly-owned subsidiary USAmeriBank, in a merger agreement with Valley National Bancorp ("Valley") (NYSE: VLY), and its wholly-owned subsidiary Valley National Bank.

Since January 1, 2014, the Barack Ferrazzano Financial Institutions Group has advised on 42 bank transactions in the Midwest region, more than any other law firm during that period.*
*Source S&P Global Market Intelligence

With Valley's 209 branches in New Jersey, New York and Florida, the acquisition will significantly enhance its presence in the Florida market and establish its presence in Alabama with USAB's branches in the Birmingham, Montgomery and Tallapoosa areas. Under the terms of the merger agreement, the common shareholders of USAB will receive 6.1 shares of Valley common stock for each USAB share they own, subject to adjustment in the event Valley's volume-weighted average stock price falls below $11.50 or rises above $13.00 prior to closing.

This transaction is valued at an estimated $816 million—one of the larger banking deals announced to date in 2017—and is expected to close in the first quarter of 2018. Barack Ferrazzano's team is led by Dennis R. Wendte and Joseph T. Ceithaml, and includes Nicholas M. Brenckman, Donald Norman Jr., K.C. Klagos, Michael J. Towne, Alice Lin and Charles E. Picton.

Click here to read more about this transaction.

USAmeriBank

USAmeriBank is an independent, non-public bank based in Clearwater, Florida, that has established itself as an outstanding middle-market financial institution. The bank serves the needs of individuals and businesses in the Tampa Bay area in Florida, and in the Birmingham, Montgomery and Tallapoosa areas in Alabama, by providing a high-level of personalized service and attention to a targeted customer base. USAmeriBank's parent company is USAmeriBancorp, Inc. More information is available at www.USAmeriBank.com.

Barack Ferrazzano Financial Institutions Group

Our 30-attorney Group has represented more than 250 financial institutions across the country. Our M&A experience is unparalleled—over the past decade, our Group ranked #1 in the Midwest region by number of announced bank and thrift merger and acquisition transactions, according to S&P Global Market Intelligence. The Financial Institutions Group was again named as one of the top financial institution groups in the nation in the U.S. News & Best Lawyers 2017 report.

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