For 75 years, Valley National Bank has been providing quality banking and financial products and services to retail, commercial and trust customers. It is important to us that all of our customers know Valley's history, and understand our commitment to the communities we serve.
Valley is a super community bank that offers products and services in a personal, friendly and approachable atmosphere. We are large enough to provide the products, delivery channels and quality service that are important to both our consumer and business customers, but small enough to do so in a responsive and professional manner.
Valley National Bank was founded in 1927 as the Passaic Park Trust Co. In 1956, The Bank of Allwood (Clifton) was acquired, and over the decades that followed, the Bank pursued an expansion policy that ensured the highest level of service in each new community in our branch network.
The Bank's expansion led to the need for a new identity that reflected this regional commitment. The name Valley National Bank was chosen in 1976 to enable the bank to open offices in communities outside of the Passaic/Clifton area. Valley formed a holding company known as Valley National Bancorp in 1984, and continued its expansion policy under the holding company by acquiring banks to broaden Valley's branch network even further.
In 1999, Valley became the first banking institution licensed to sell title insurance in New Jersey. Through our subsidiary, Commonwealth All Service Title Agency, we now offer residential and commercial title insurance to our customers.
During 2000, Valley expanded the capabilities of our asset management and trust services division, Valley Financial Services, with the acquisition of Hallmark Capital Management, Inc., a value-oriented investment management firm. Hallmark joins New Century Asset Management, another wholly owned subsidiary acquired in 1999, as part of the Valley Financial Services team. Hallmark's value-oriented approach to serving the needs of corporate, institutional and individual investors complements New Century's growth-oriented focus. New Century serves high net-worth individuals and small corporate accounts.
In June 2002, Valley announced an agreement to purchase the assets of Masters Coverage Corp., an independent insurance agency offering property and casualty, life and health insurance. In July 2002, Valley announced a further expansion of our investment services with an agreement to acquire Glen Rauch Securities, Inc., a Wall Street brokerage firm specializing in municipal securities.
In addition, Valley Financial Services provides estate planning, custodial services and other traditional trust functions through our Trust Services Group. All maintain Valley's commitment to convenient, personalized service and offer customers the ability to match their specific needs with a full-range of expertise and experience.
In January of 2001, Valley completed its merger with Merchants New York Bancorp, Inc., the holding company for The Merchants Bank of New York. Valley operates the seven former Merchants branch offices in Manhattan as The Merchants Bank of New York, a division of Valley National Bank.
Valley began operations in our new leasing company, Valley Commercial Capital, LLC, in June 2001. The company offers commercial equipment leases as well as financing for general aviation aircraft.
As of June 30, 2002, Valley had assets of $8.8 billion and currently operates 120 branch offices in 81 communities located in Bergen, Essex, Hudson, Middlesex, Morris, Passaic, Somerset, Sussex, Union and Warren counties, and in Manhattan. Because Valley is a federally chartered commercial bank, your assets at Valley have the guaranteed protection of the Federal Deposit Insurance Company (FDIC) for up to $100,000 of the total funds you have on deposit in certain types of accounts, subject to FDIC limits. – less – More from ZoomInfo »