Valley National Bancorp agrees to acquire Bluevine for $340M to add $2.1B in digital small business deposits

Valley National Bancorp has signed a definitive agreement to acquire Bluevine for about $340 million: roughly $255 million in cash and about 6.3 million Valley shares. The deal is expected to close in early 2027, subject to regulatory approval. Bluevine co-founder and CEO Eyal Lifshitz will join Valley as head of small business banking.

Founded in 2013 and based in Jersey City, Bluevine offers small businesses checking, payments, bill pay, invoicing, lending and financial management tools.

It serves about 175,000 active customers and brings $2.1 billion of deposits, which grew at about 35% a year from 2023 to the second quarter of 2026. About 99% come from customers who do not borrow. Valley, with more than $66 billion in assets, expects the deal to add about 8% to its 2028 EPS.

The read: for a regional bank, a fintech's most valuable asset is its low-cost deposit base.

Link to the announcement in the first comment.