New commercial and industrial-focused team will build on the Bank's established market presence through tax credit advisory affiliate, Dudley Ventures

Valley Bank today announced the organic expansion of its relationship-focused commercial banking operations into the Phoenix, Arizona market. Phoenix is already the home of Valley's tax credit advisory affiliate, Dudley Ventures, and this effort will further strengthen Valley's presence in one of the country's fastest‑growing markets. With this expansion, Valley now operates in 6 of the top 10 US Metropolitan Statistical Areas based on population. These six markets represent over $2.3 trillion in deposits, over 60 million individuals, and more than 135,000 small and medium-sized businesses.

As the largest commercial bank headquartered in New Jersey, Valley has successfully leveraged its high-touch service model into new, growth-oriented markets like Florida, California, and Illinois. Similar to Arizona, these dynamic markets are underpinned by commercial, population, and wealth density and middle-market growth tailwinds. When entering new markets, Valley has proven its abilities to recruit local talent and build durable client relationships in a disciplined manner.

Valley's Arizona expansion will be led by a commercial banking team with deep local market experience and a strong track record serving middle-market companies. The team will focus primarily on commercial and industrial (C&I) banking, delivering relationship-driven solutions for growth-oriented businesses throughout the Phoenix metropolitan area and surrounding Southwest markets. Valley plans to continue to add underwriting, treasury, and support capabilities in the Southwest Region to serve clients with speed, expertise, and local insight.

"Our expansion into Arizona is a meaningful milestone for Valley and a natural extension of our commercial banking strategy," said Gino Martocci, President of Commercial Banking at Valley. "Arizona is one of the fastest growing and most capital-intensive economies in the nation. With population growth exceeding the U.S. average, more than $30 billion in annual business investment, and over $165 billion committed to advanced manufacturing alone, the state is attracting companies that are scaling rapidly and investing for the long term. Our existing presence through Dudley Ventures, and their connectivity to the local business community, gives us a strong foundation to build from. As one of the strongest regional banks in the country, we continue to invest strategically in markets where we can differentiate ourselves with experience and responsible scale, and deliver long‑term value for our clients and shareholders."

The team will be overseen by Matt Weidle, Regional President of Commercial Banking, and led by Heath Scheid, who joins Valley as Regional President with more than two decades of commercial banking leadership experience in the Phoenix market; most recently, Scheid served as Managing Director and Southwest Region Head for a reputable financial institution, where he built and led high-performing commercial teams focused on middle-market growth, credit excellence, and disciplined expansion.

Joining Scheid is Patrick Epum, who will serve as Arizona Market President, and Chad Hunter, who joins as Senior Relationship Manager. Together, the team brings deep expertise in commercial lending, treasury management, financial analysis, and relationship management, with longstanding ties to the Arizona business community.

Patrick Epum, Arizona Market President, has spent nearly two decades advising middle‑market companies on complex financing needs, capital structures, and growth strategies, with experience spanning commercial banking, capital markets, and institutional finance.
Chad Hunter, Senior Relationship Manager, brings a strong background in business development and relationship banking, with a proven record of building trusted partnerships across diverse industries and consistently exceeding growth and revenue goals.

"Together, Arizona and the broader Southwest are driving a disproportionate share of U.S. population growth, capital investment, and job creation. With multi trillion-dollar regional GDP, sustained in-migration, and billions in annual private investment, the Southwest continues to emerge as one of the most dynamic commercial banking markets in the country," said Matt Weidle, Regional President of Commercial Banking at Valley. "We've assembled an exceptional team to anchor our entry into Arizona. These leaders bring deep market knowledge, proven track records of driving results, and a shared commitment to relationship‑based banking. They are exactly the right people to lead our expansion, establish Valley's presence in the region, and deliver on our brand promise of being a trusted, growth‑oriented partner to middle‑market businesses."

"This expansion builds on momentum we've established in other growth markets and reflects our confidence in the long‑term opportunity in Arizona," Martocci added. "We are investing in top talent, staying disciplined in our approach, and focusing on markets where we believe Valley can truly differentiate."

The team will be located at Valley's office at 22 East Jackson Street in Phoenix alongside Dudley Ventures, reinforcing Valley's established presence in the market. Dudley Ventures, an Arizona-based tax credit advisory affiliate acquired by Valley in 2021, has supported clients in Arizona for years by providing investment and structuring expertise across New Markets Tax Credits Historic Tax Credits, Low-Income Housing Tax Credits, and renewable energy tax credit programs. The Dudley team supports community investment projects by helping clients and partners assemble tax credit financing, manage due diligence, and execute efficient closings, bringing an established local presence as Valley expands its broader commercial banking offering in the state.

About Valley

As the principal subsidiary of Valley National Bancorp (NASDAQ:VLY), Valley National Bank is a regional financial institution with approximately $64 billion in assets. Founded in 1927, Valley has more than 200 offices nationwide and serves clients across New Jersey, New York, Florida, Alabama, California, Illinois, Pennsylvania and Arizona. Valley delivers a full range of consumer, commercial, and wealth management solutions designed to support everything from homeownership and business growth to long-term financial planning. Big enough to support complex financial needs and small enough to stay deeply connected, Valley is grounded in a relationship-led approach focused on understanding people first. That same relationship-led approach guides Valley's commitment to community investment and responsible corporate citizenship. To learn more, visit www.valley.com or call the Valley Customer Care Center at 800-522-4100.

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Pam Golden

(973) 564-8591

pam@glapr.com

Valley Bank Expands Commercial Banking Presence into Arizona