Community Partner Communication
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To be sent from Bernadette Mueller to all of Valleys community partners & Advisory Board
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Email # 1 - Community Groups:
Subject: Valley Bank has agreed to merge with Bank Leumi USA
As one of the premier regional banks in the country, we proudly embrace our role in building stronger communities. Thats why were excited to
announce that weve found a partner in Bank Leumi USA who shares that same commitment.
<CTA to PR>
Read the official Press Release
The
combination of Valley and Bank Leumi USA will help us fulfill our commitments to local neighborhoods by bringing together two historic organizations with approximately $51 billion in assets and more than 200 offices throughout the country.
Most importantly, together well be able to make a stronger impact than ever before in helping to revitalize the local communities we serve.
A shared commitment to serving the community
For us,
being a local bank is about more than just business opportunities. Its about embracing our role as an advocate for our communities success.
In
2019, Valley received an Outstanding rating from the Office of the Comptroller of the Currency (OCC) for exceeding the terms of the Community Reinvestment Act (CRA) exam a recognition only a small percentage of financial
institutions received.
To learn more about how we partner with organizations to better serve our communities, read our 2020 CSR Report.
Bank Leumi USA shares the same passion for supporting the communities they serve and has a long history of giving back to their local communities
through grant making and employee volunteerism.
Look no further than their most recent initiative as evidence: The Leumi Community Support Fund.
Initially funded with a portion of fees from their participation in the Paycheck Protection Program, Leumi is aiming to dedicate $1 million to meeting the needs of local communities. Their first focus is on supporting small businesses and
micro-entrepreneurship, with an emphasis on the under- served and under-represented.
Bank Leumi USAs first initiative with the Leumi Community
Support Fund is their Small Business Initiative, where they offer interest-free, no guarantor loans to small businesses through partnerships with local nonprofit organizations.
Since launching the program in New York in late 2020, more than $440,000 in loans have been provided to small businesses in the New York metro area, all of
which are either minority or women-owned or both!
Our combination with Bank Leumi USA will only strengthen our commitment to corporate social
responsibility by expanding our reach and deepening relationships as we discover new ways to make a positive impact across our entire footprint.
Your voice matters
As always, I am available to discuss
this merger in further detail and address any questions that you may have.
We thank you for everything you do to change lives in our community and look
forward to our continued partnership.
[INSERT FULL LEGAL DISCLOSURE]
Email #2 - Advisory Board Members:
Subject: Valley
Bank has agreed to merge with Bank Leumi USA
We are pleased to inform you that Valley and Bank Leumi announced today that they have entered into a
merger agreement whereby Valley will acquire Bank Leumi USA, a subsidiary of Bank Leumi Le-Israel.
<CTA to PR>
Read the
official Press Release
Bank Leumi provides full-service relationship banking for middle-market commercial clients and private banking services for
high net-worth individuals. They operate five commercial offices in New York, Los Angeles, Palo Alto, Chicago, and Miami.
The strategic combination of both banks will introduce new deposit verticals, geographies, and diversification into niche commercial and industrial segments,
while bringing a wider range of product offerings to Bank Leumis customer base and service area. The acquisition brings new and exciting business capabilities to Valley while also positioning the Bank for growth in diverse and attractive
markets.