Jersey City, New York and New Jersey, September 28th ( GLOBE NEWSWIRE ) – Valley National Bancorp (“ Valley ”) (Nasdaq ticker: VLY ) and Bluevine Inc (“ Bluevine ”) announced today that they have reached a final agreement. Valley will acquire Bluevine. Bluevine is a national digital banking platform for small and medium-sized enterprises.
This acquisition is in direct alignment with Valley's established strategic priorities, which include strengthening the capital base, expanding services for small and medium-sized enterprises (SMEs), and accelerating the implementation of digitalization and artificial intelligence (“AI”) strategies. Bluevine will provide Valley with a scaled, rapidly growing digital platform for SMEs; $2.1 billion in low-cost, digital deposits, and Bluevine and Valley are expected to continue growing over time; in addition, a comprehensive set of banking, payment, lending, and financial management solutions will be available to SMEs across the United States. Furthermore, the engineering, product, data science, and AI talents from Bluevine will help accelerate Valley's long-term technology strategy, which includes more extensive development of internal capabilities and reduced reliance on third-party software and service providers.
Bluevine was established in 2013, with its headquarters located in Jersey City, New Jersey. It serves approximately 175,000 active small and medium-sized enterprise (SME) customers. It was recognized by Money.com as the Best Overall SME Bank of 2026 and by NerdWallet as the Best Online Business Check Account of 2026. Bluevine has shown growth momentum in establishing business relationships with SMEs, with its platform generating deposits that exhibited a compound annual growth rate of about 35% from 2023 to the second quarter of 2026. Currently, about 99% of these deposits come from non-borrowing customers, and it is expected to provide Valley with a diversified, relationship-based core source of funding.
This transaction will add a national digital customer acquisition channel to the existing relational banking model of Valley. Leveraging the branch network of Valley as well as a broader range of solutions for fund management, credit, insurance, wealth management, and capital markets, customers of Bluevine will benefit from a more comprehensive value proposition as part of the merged institution. The existing small and medium-sized enterprise (SME) customers of Valley will also benefit from Bluevine's leading digital platform, which integrates business checks, payments, bill payments, invoices, loans, and financial management functions into a unified experience tailored for SMEs.
This acquisition will also accelerate the technology of Valley and the AI strategy by adding approximately 180 new R&D and engineering personnel, who are mainly located in mature tech hubs such as Redwood City, Jersey City, Salt Lake City, and Tel Aviv in Israel. Bluevine possesses a strong engineering culture, modern technical architecture, and extensive experience in applying data and AI solutions to the work processes of small and medium-sized enterprises (SMEs). Having these capabilities will give Valley greater control over the customer experience, enable faster market deployment of solutions, and lay a solid foundation for further innovation in areas beyond the traditional focus of Bluevine SMEs.
According to the proposed terms of the transaction, Valley will acquire Bluevine for a total consideration of approximately $340 million. It is estimated that about 75% of the consideration will be in cash and 25% will be in Valley common shares, subject to the final agreement terms and customary adjustments. After taking into account the expected synergies, this acquisition is expected to increase earnings per share in 2028 by about 8%. Upon closing of the transaction, it is anticipated that there will be a dilution of tangible book value of approximately 5%, with an estimated payback period of about 3 years.
Valley, Chairman, President, and CEO, stated: "The acquisition of Bluevine directly advances the strategic priorities we have communicated to our shareholders prior to this. It is expected to enhance our core capital strength, add a proven platform for the growth of small and medium-sized enterprises (SMEs), and significantly accelerate our digitalization and AI capabilities. Bluevine has built an impressive business framework, forming a diversified base of deposit relationships with SMEs, a highly active customer base, and a modern technology platform tailored to the needs of SMEs." He also added: "By combining the balance sheet and product capabilities of Valley with Bluevine's digital platform and customer acquisition engine, we can accelerate our goal of becoming the preferred bank for SMEs across the United States. This merger will also create attractive cross-selling opportunities, further deepening the breadth of existing banking relationships between Valley and Bluevine customer bases by offering a wider range of products and a better customer experience."
Bluevine, Co-Founder and CEO, stated: "The original intention of founding Bluevine was to provide small and medium-sized business owners with the financial tools and digital experiences needed to manage and develop their businesses. Valley shares our commitment and possesses the balance sheet capabilities, relationship-based banking experience, and broader capabilities required to support customers through every stage of their growth. We will be able to expand our influence while maintaining the technology, customer orientation, and entrepreneurial culture that have contributed to the success of Bluevine. We look forward to joining Valley and continuing to enhance our platform for small and medium-sized enterprises." Following the completion of the transaction, Mr. Lifshitz will join Valley as the head of the small and medium-sized enterprise banking business.
The acquisition is expected to be completed in early 2027 and requires regular regulatory approval, as well as meeting or being exempt from other customary delivery conditions. More transaction information is available in the investor presentation materials provided on the Valley website, which can be found at www.valley.com.
Cantor Fitzgerald and Co serve as the financial advisors for Valley. Wachtell, Lipton, Rosen, and Katz act as the legal advisors for Valley. Financial Technology Partners serves as the exclusive advisor for Bluevine and its board of directors in the transaction with Valley. Sidley Austin LLP acts as the legal advisor for Bluevine.
Investor Teleconference
Valley Executives will hold a teleconference at 8:30 AM Eastern Standard Time today to discuss this transaction. Participants are requested to register in advance through this link: https :// register-conf.media-server.com / register / BIecb95d105ce54ea584b76feeda2143b3 to obtain the dial-in number and personal PIN, both of which are required to join the teleconference. The teleconference will also be live-streamed online at the following URL: https :// edge.media-server.com / mmc /p/ udw2c42h.
About Valley
As a major subsidiary of Valley National Bancorp (Nasdaq ticker: VLY), Valley National Bank is a regional financial institution with assets exceeding $66 billion. Founded in 1927, it operates over 220 branches and business offices in New Jersey, New York, Florida, Alabama, California, Illinois, Pennsylvania, and Arizona, serving customers throughout the United States. Valley provides comprehensive personal, business, and wealth management solutions designed to meet a range of needs, from home purchases and business growth to long-term financial planning. Valley is large enough to support complex financial requirements yet flexible enough to maintain deep connections, with its foundation in a relationship-oriented approach that emphasizes understanding people before providing services. This same relational philosophy also guides Valley's commitment to community investment and responsible corporate citizenship. For more information, please visit www.valley.com or call the Valley customer service center at 800-522-4100.
About Bluevine
Bluevine was established in 2013, with its headquarters located in Jersey City, New Jersey. It provides integrated digital banking, payment, lending, and financial management solutions for small and medium-sized enterprises (SMEs). As of June 2026, Bluevine serves approximately 175,000 active SME customers, and since its inception, it has assisted over 415,000 businesses. For more information, please visit www.bluevine.com.
Forward-looking Statements Warning
The above content contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements are not historical facts and represent management's confidence and strategies regarding our business, new and existing projects and products, acquisitions, relationships, opportunities, taxes, technology, market conditions, and economic expectations, as well as management's projections. Such forward-looking statements can be identified by the use of phrases such as “intend”, “should”, “expect”, “believe”, “position”, “view”, “opportunity”, “allow”, “continues”, “reflects”, “would”, “could”, “typically”, “usually”, “anticipate”, “may”, “estimate”, “outlook”, “project”, and similar expressions. These forward-looking statements involve certain risks and uncertainties, and actual results may differ significantly from these statements. For a detailed discussion of factors that could affect our performance, please refer to our SEC document, including item 1A “Risk Factors” in our annual 10-K report as of December 31, 2025. Except as required by law, we have no obligation to update any forward-looking statements to reflect actual results or expected changes. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements.
