Valley National Bancorp closes common stock offering

Fri. August 14, 2009; Posted: 01:05 PM

Look up the PowerRating of VLY and see how it has performed over the past week as well as the current proprietary PowerRating.

Aug 14, 2009 (Datamonitor via COMTEX) -- VLY | Quote | Chart | News | PowerRating -- US-based Valley National Bancorp, the holding company for Valley National Bank, has completed its at-the-market common equity offering program.

Valley issued 5.67 million shares of common stock since the beginning of the offering in June 2009 at a weighted average price per share of $12.89.

Stifel, Nicolaus & Company and RBC Capital Markets acted as joint agents in connection with the equity offering.

Gerald Lipkin, chairman, president and CEO, said: "We are very pleased with the market reception to our equity offering. The depth of interest in this offering reflects a strong level of investor confidence in the marketplace regarding Valley's future prospects. The funds raised solidify our already strong, well-capitalized position and give us the added flexibility in the management of our balance sheet."

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For full details on Valley National Bancorp (VLY) click here. Valley National Bancorp (VLY) has Short Term PowerRatings of 8. Details on Valley National Bancorp (VLY) Short Term PowerRatings is available at This Link.

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