Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): September 16, 2009

 

 

VALLEY NATIONAL BANCORP

(Exact Name of Registrant as Specified in Charter)

 

 

 

New Jersey   1-11277   22-2477875

(State or Other Jurisdiction

of Incorporation)

   (Commission File Number)  

(I.R.S. Employer

Identification Number)

 

1455 Valley Road, Wayne, New Jersey   07470
(Address of Principal Executive Offices)   (Zip Code)

(973) 305-8800

(Registrant’s telephone number, including area code)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 8.01 Other Events.

On September 16, 2009, Valley National Bancorp (“Valley”) announced that it received approval from the U.S. Department of the Treasury (the “Treasury”) for its request to redeem an additional $125 million of Valley’s Series A Fixed Rate Cumulative Perpetual Preferred Stock (the “Preferred Stock”) issued to the Treasury pursuant to the Troubled Asset Relief Program Capital Purchase Program. Of the $300 million of Preferred Stock originally issued to the Treasury in November 2008, $75 million was previously redeemed by Valley. On September 23, 2009, Valley expects to pay approximately $125.7 million to the Treasury to repurchase the shares of Preferred Stock, including accrued and unpaid dividends for such shares. Valley’s redemption of the Preferred Stock is not subject to additional conditions or stipulations from the Treasury. A copy of the press release is attached hereto as Exhibit 99 and is incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits.

 

Exhibit

    
99   Press Release dated September 16, 2009.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated: September 16, 2009

   VALLEY NATIONAL BANCORP
  By:  

/s/    Alan D. Eskow

    Alan D. Eskow
    Senior Executive Vice President and
    Chief Financial Officer