Northeast bank with strong local ties acquires Israeli bank

Valley Bank has completed its purchase of Bank Leumi USA for $113 million.

By Business Observer Staff
| 2:40 p.m. April 6, 2022
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Valley Bank CEO Ira Robbins. (File photo)

Tampa Bay-Lakeland

Valley Bank, a Wayne, New Jersey-based bank with a robust footprint in Florida thanks to its acquisition of Clearwater-based USAmeriBank in 2018, has closed its purchase of Leumi USA, the U.S. subsidiary of Bank Leumi Le-Israel B.M. and parent company of Bank Leumi USA.

According to a news release, the acquisition cost was $113 million. Bank Leumi USA’s total assets, as of Dec. 31, were $8.3 billion.