Page 1

Valley NEWS RELEASE Valley National Bancorp to Acquire Bluevine Inc. , Accelerating Its Digital Small Business Growth Strategy and Meaningfully Enhancing Its Core Funding Capabilities 2026-09-28 NEW YORK , N.Y. and JERSEY CITY , N.J. , Sept. 28 , 2026 ( GLOBE NEWSWIRE ) -- Valley National Bancorp ( " Valley " ) ( NASDAQ : VLY ) and Bluevine Inc. ( " Bluevine " ) announced today that they have entered into a definitive agreement whereby Valley will acquire Bluevine , a leading nationwide digital banking platform for small businesses . The acquisition directly aligns with Valley's stated strategic priorities of enhancing its funding base , expanding its small business franchise , and accelerating its digital and artificial intelligence ( " AI " ) strategy . Bluevine will bring Valley a scaled , high - growth digital small business platform ; $ 2.1 billion of low - cost , digitally - sourced deposits which Bluevine and Valley intend to grow over time ; and an established suite of integrated banking , payments , lending and financial - management solutions designed for small businesses across the country . Additionally , Bluevine's engineering , product , data science and Al talent will help accelerate Valley's long - term technology strategy , which includes a focus on broader development of internal capabilities and less reliance on third - party software and service providers . Founded in 2013 and headquartered in Jersey City , New Jersey , Bluevine serves approximately 175,000 active small business customers and was voted 2026 Best Overall Small Business Bank by Money.com and 2026 Best Online Business Checking Account by NerdWallet . Bluevine has demonstrated momentum in building small business operating relationships , with platform - generated deposits increasing at an approximately 35 % compound annual growth rate from 2023 through the second quarter of 2026. Approximately 99 % of these deposits are currently 1