Valley National Bancorp has entered into a definitive agreement to acquire Bluevine, a nationwide digital banking platform for small businesses, for approximately $340 million, with consideration split roughly 75% cash and 25% Valley common stock and closing expected in early 2027, subject to regulatory approvals. Bluevine brings about 175,000 active small business customers, roughly $2.1 billion in low-cost core deposits, and around 180 engineering, product, data science, and AI professionals. The main objective is to accelerate Valley’s digital and AI strategy in banktech, strengthen its funding base by replacing higher-cost brokered deposits, and add a national digital acquisition channel, while Bluevine customers gain access to Valley’s branch network, treasury management, credit, insurance, wealth, and capital markets services. Key players include Valley Chairman, President, and CEO Ira Robbins, who said the deal advances the bank’s stated strategic priorities, and Bluevine co-founder and CEO Eyal Lifshitz, who is expected to join Valley as Head of Small Business Banking after closing.

Valley National Bancorp to Acquire Bluevine for $340M