M&A Deal Summary

Valley Bank Acquires Greater Community Bancorp.

On March 19, 2008, Valley Bank acquired financial services company Greater Community Bancorp. from Oritani Financial

Acquisition Highlights
  • This is Valley Bank’s 2nd transaction in the Financial Services sector.
  • This is Valley Bank’s 2nd transaction in the United States.
  • This is Valley Bank’s 2nd transaction in New Jersey.

M&A Deal Summary

Date 2008-03-19
Target Greater Community Bancorp.
Sector Financial Services
Buyer(s) Valley Bank
Sellers(s) Oritani Financial
Deal Type Merger
Advisor(s) Sandler O'Neill + Partners
The Kafafian Group (Financial)
Quarles & Brady (Legal)

Target

Greater Community Bancorp.

Totowa, New Jersey, United States
Greater Community Bancorp is a financial holding company. Greater Community operates 15 full-service branches in the northern New Jersey counties of Bergen, Passaic and Morris through its state-chartered commercial bank subsidiary Greater Community Bank.

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Buyer(S) 1

Buyer

Valley Bank

Morristown, New Jersey, United States

Category Company
Founded 1927
Sector Financial Services
Employees3,732
Revenue 1.8B USD (2024)
DESCRIPTION

Valley Bank is a regional bank holding company that operates 204 branches in 144 communities serving 16 counties throughout northern and central New Jersey, Manhattan, Brooklyn, Queens, and Long Island. Valley Bank was founded in 1927 and is based in Morristown, New Jersey.


DEAL STATS #
Overall 2 of 11
Sector: Financial Services M&A 2 of 7
Type: Merger M&A Deals 2 of 4
State: New Jersey M&A 2 of 3
Country: United States M&A 2 of 11
Year: 2008 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-09 NorCrown Bank

Livingston, New Jersey, United States

NorCrown is a commercial bank with approximately $600 million in assets and 15 branch offices located in 12 affluent communities in Essex, Hudson and Morris Counties. Pursuant to the agreement, NorCrown Bank will be merged into Valley National Bank.

Buy $141M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-28 State Bancorp

Jericho, New York, United States

State Bancorp, Inc. is the holding company for State Bank of Long Island. In addition to its seventeen branches located in Nassau, Suffolk, Queens and Manhattan, the Bank maintains its corporate headquarters in Jericho. The Bank has built a reputation for providing high-quality personal service to meet the needs of our diverse client base which includes commercial real estate owners and developers, small to middle market businesses, professional service firms, municipalities and consumers.

Buy $222M

Seller(S) 1

SELLER

Oritani Financial

Washington Township, New Jersey, United States

Category Company
Founded 1911
Sector Financial Services
Employees189
Revenue 154M USD (2019)
DESCRIPTION

Oritani Financial is a provider of financial services in the US through its retail and commercial banks. Oritani Financial was founded in 1911 and is based in Washington Township, New Jersey.


DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Merger M&A Deals 1 of 1
State: New Jersey M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2008 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-14 Greater Community Bancorp.

Totowa, New Jersey, United States

Greater Community Bancorp is a financial holding company. Greater Community operates 15 full-service branches in the northern New Jersey counties of Bergen, Passaic and Morris through its state-chartered commercial bank subsidiary Greater Community Bank.

Buy $187M