Who are Valley National Bancorp's competitors, and what are the alternatives?
Valley National Bancorp's 2025 10-K says it is the largest commercial bank headquartered in New Jersey and ranked 10th by deposits among 150 FDIC-insured institutions in the New York, Northern New Jersey and Long Island markets, and 1st there among those with less than $1 trillion of assets (June 30, 2025). By state it ranks 6th in New Jersey, 28th in New York, 18th in Florida, 22nd in Alabama and 67th in California. In the New York-Newark-Jersey City metro, FDIC data put JPMorgan Chase at 34.73% of deposits, Bank of America at 6.51% and TD Bank at 3.26%, with Valley at 1.36% and Flagstar close behind at 1.32%; Santander, which completed its Webster acquisition in 2026, M&T and Citizens each hold under 1%. In Florida, Valley holds 1.05% of Miami-area deposits through 13 offices, where Bank of America, Chase and Wells Fargo lead and BankUnited holds 6.00%. In Chicago, where its $247 million Providence purchase adds 14 branches, Chase and BMO hold 37.66% between them. The 10-K names credit unions, money market and mutual funds, mortgage companies, fintech companies and asset managers, and singles out fintech and direct-bank competitors offering digital alternatives without the burden of being a regulated depository; Ally, with 9.5 million customers, Santander's Openbank, with more than $10 billion of US deposits, and Chime are the clearest examples. Valley's answer is to buy one: it agreed to acquire Bluevine in September 2026.[1][2][3][4][5][6][7][8][9][10]
Data as of Oct 19, 2026 · Valley profile updated Oct 13, 2026 · computed tables recalculate from the 140 bank profiles on this site · Markdown
What does Valley say about its competition?
"Valley National Bank is the largest commercial bank headquartered in New Jersey, with its top markets located in northern and central New Jersey, the New York City boroughs of Manhattan, Brooklyn and Queens, Long Island, Westchester County, New York, Florida and Alabama. Valley ranked 10th in competitive ranking and market share based on the deposits reported by 150 FDIC-insured financial institutions in the New York, Northern New Jersey and Long Island deposit markets as of June 30, 2025 and ranked 1st in this market among financial institutions below $1 trillion in assets. The FDIC also ranked Valley 6th, 28th, 18th, 22nd and 67th in the states of New Jersey, New York, Florida, Alabama and California, respectively, based on deposit market share as of June 30, 2025."[1]
"While we believe our FDIC rankings reflect a solid foundation in our primary markets, the market for banking and bank-related services is highly competitive and we face substantial competition in all areas of our operations from a variety of bank and non-bank competitors, some of which are larger and may have more financial resources than Valley. Some of these competitors may be subject to fewer regulatory constraints, or may have greater resources, higher lending limits and stronger name recognition than Valley."[1]
"Valley competes with other providers of financial services such as commercial and savings banks, savings and loan associations, credit unions, money market and mutual funds, mortgage companies, fintech companies, title agencies, asset managers, insurance companies, and a large list of other local, regional and national institutions which offer financial services. ... Fintech and direct bank competitors provide innovative digital solutions to traditional retail banking services and products, and in some cases without the extensive burden associated with being a regulated depository institution. We work to meet these challenges by utilizing internal resources and external technology partners to continually enhance our online and mobile banking products." (2025 Form 10-K.)[1]
Who competes with Valley in each of its businesses?
| Business line | Competitor | Type | Why it competes |
|---|---|---|---|
| Home region: the New York metro, Florida and Chicago | JPMorgan Chase | Bank | Holds 34.73% of New York-Newark-Jersey City deposits through 662 offices (June 30, 2025), against Valley's 1.36% through 166.[2] |
| Home region: the New York metro, Florida and Chicago | TD Bank US | Bank | TD runs 363 offices in the New York metro, second only to Chase among its 25 largest deposit holders, and holds 3.26% of its deposits (June 2025).[2] |
| Home region: the New York metro, Florida and Chicago | Bank of America | Bank | Holds 6.51% of New York-area deposits through 339 offices and leads the Miami metro with 16.00% (June 2025), Valley's two largest markets.[2][4] |
| Home region: the New York metro, Florida and Chicago | Flagstar Bank | Bank | A member of Valley's 2025 proxy peer group, with 1.32% of New York-area deposits through 149 offices against Valley's 1.36% (June 2025) and about 340 locations in nine states.[11][2][12] |
| Home region: the New York metro, Florida and Chicago | Santander US (with Webster) | Bank | Santander completed its $12.3 billion purchase of Webster, a former Valley proxy peer, in 2026, for about 8 million US customers; the two held 0.85% and 0.83% of New York-area deposits (June 2025).[13][3][11][2] |
| Home region: the New York metro, Florida and Chicago | M&T Bank | Bank | Holds 0.77% of New York-area deposits through 151 offices (June 2025), with more than $1.2 billion of technology spending in 2025.[2][14] |
| Home region: the New York metro, Florida and Chicago | BankUnited | Bank | A Miami Lakes bank in Valley's 2025 proxy peer group, holding 6.00% of Miami-area deposits through 36 offices against Valley's 1.05% through 13 (June 2025).[11][4] |
| Home region: the New York metro, Florida and Chicago | Seacoast Banking Corporation of Florida | Bank | Holds 1.07% of Miami-area deposits through 22 offices (June 2025), level with Valley's 1.05%, and had 104 branch offices in Florida and Georgia at the end of 2025.[4][15] |
| Home region: the New York metro, Florida and Chicago | BMO US | Bank | Holds 17.72% of Chicago-area deposits through 184 offices, second to Chase's 19.94% (June 2025), in the market Valley is entering with Providence's 14 branches.[5][6] |
| Commercial and commercial real estate banking | ConnectOne Bancorp | Bank | An Englewood Cliffs, New Jersey commercial bank with 0.39% of New York-area deposits through 58 offices (June 2025), competing for the same northern New Jersey business clients.[2][16] |
| Commercial and commercial real estate banking | Dime Community Bank | Bank | Holds 0.43% of New York-area deposits through 63 offices, all of them inside the metro (June 2025); Valley names Brooklyn, Queens and Long Island among its top markets.[2][1] |
| Commercial and commercial real estate banking | Citizens | Bank | Holds 0.73% of New York-area deposits through 172 offices (June 2025), more branches than Valley in the metro.[2] |
| Retail deposits, direct banks and fintechs | Ally Financial | Bank | A direct bank of the kind Valley's 10-K says offers digital alternatives to traditional retail banking; Ally reported 9.5 million customers and $197 billion of assets at March 31, 2026.[1][7] |
| Retail deposits, direct banks and fintechs | Openbank (Santander US) | Bank | Santander's US digital bank had gathered more than $10 billion of deposits by October 2026, a direct-bank rival for the same deposit dollars.[8][1] |
| Retail deposits, direct banks and fintechs | Chime | Fintech | A fintech of the kind Valley's 10-K says competes without the burden of being a regulated depository; Chime's own 10-K claims a cost advantage over traditional banks, and it had 10.4 million active members at June 30, 2026.[1][17][9] |
| Retail deposits, direct banks and fintechs | Credit unions | Credit union | Valley's 10-K names credit unions among its competitors and says credit unions and fintechs are not regulated or supervised to the same extent, which may put Valley at a disadvantage.[1] |
| Small business banking and payments | Square (Block) | Payments company | Block's 10-K lists banks that provide payment processing, checking, savings, loans and payroll among Square's competitors, the small-business market Valley is pushing into with Bluevine's 175,000 customers.[18][10] |
| Small business banking and payments | Bank of America | Bank | Bank of America calls itself the number one small business lender in the US, citing FDIC data, serving 4 million small businesses.[19] |
How do the AI and digital offerings of Valley's competitors compare?
Valley first, then each competitor. Use-case counts, index scores and latest moves are computed from our profiles of each company; "No profile" means this site has no page on it yet.
| Company | AI or digital offering | On the record (our profiles) | Latest dated AI move |
|---|---|---|---|
| Valley National Bancorp (this page) | Cloud-first infrastructure, Valley's AI Assistant and tiered access[20][21][22][23] | Index 76.6 (#26); 17 use cases, 13 in production | Robbins on CNBC: AI agents not a threat to regional banks (Sep 29, 2026)[24] |
| JPMorgan Chase | LLM Suite for 150,000 weekly staff users; a consumer travel agent targeted for pilot before end-2026[25][26] | Index 89 (#6); 15 use cases, 8 in production | Q3 2026 call: outside AI agents stay blocked; AI spend put near $700 million (Oct 13, 2026)[27][28][29] |
| TD Bank US | Layer 6 and TD AI Prism; AI collections agents with a 20-25% connect rate[30][31] | Index 91.8 (#4); 18 use cases, 13 in production | Agentic AI extended to mortgage funding and discharge (Oct 13, 2026)[32] |
| Bank of America | Erica virtual assistant: more than 24.6 million clients helped[19] | Index 97.3 (#1); 18 use cases, 16 in production | Treasury, FinCEN and OCC impose $1.21 billion in AML and sanctions penalties (Oct 13, 2026)[33][34][35] |
| Flagstar Bank | StarIQ, orchestrating four foundation models on the S2 platform[36] | Index 65.3 (#41); 14 use cases, 8 in production | Third-quarter 2026 results set for 23 October (Oct 9, 2026)[37] |
| Santander US (with Webster) | ChatGPT Enterprise for nearly 15,000 group employees; more than 280 process-automation agents[38][39] | Index 87.2 (#8); 15 use cases, 10 in production | Riley: AI lets her 'vibe code' a CRM tool herself (Oct 1, 2026)[8] |
| M&T Bank | Microsoft Copilot for about 16,000 of 22,000 employees[40] | Index 75.5 (#28); 14 use cases, 10 in production | Rajwani on AI agents and deposit runs (Oct 1, 2026)[41] |
| BankUnited | SAVI policy assistant: 95% accuracy across about 400 documents (AWS case study)[42] | Index 63.5 (#44); 15 use cases, 10 in production | Q2 2026 10-Q has no AI discussion (Aug 6, 2026)[43] |
| Seacoast Banking Corporation of Florida | Quavo agentic dispute management and Seacoast's AI-information page[44][45][46] | Index 42.1 (#67); 11 use cases, 10 in production | Abrigo publishes Seacoast loan-review AI case study (Oct 8, 2026)[47] |
| BMO US | Lumi, Aura and the Institute for Applied AI & Quantum[48][49][50] | Index 85.8 (#10); 16 use cases, 14 in production | Evident AI Index 2026: top 20 overall, #2 for AI outcomes (Oct 6, 2026)[51] |
| ConnectOne Bancorp | nCino Banking Advisor and custom agents; document search cut from about 20 minutes to 30 seconds[52] | Index 44.6 (#65); 10 use cases, 7 in production | Q1 and Q2 2026 10-Qs carry no AI language (Aug 4, 2026)[53][54] |
| Dime Community Bank | Not disclosed | Index 10.5 (#102); 8 use cases, 2 in production | New Jersey push (Aug 12, 2026)[55] |
| Citizens | CiZi and the cloud-native core[56][57] | Index 85.3 (#11); 20 use cases, 10 in production | Q4 2026 Business Pulse: small-business AI spending rising (Sep 29, 2026)[58] |
| Ally Financial | Ally.ai for 10,000+ employees; 57% of full-time staff active AI users in 2025[59][60] | Index 76.5 (#27); 13 use cases, 9 in production | CRO: AI should be 'an accelerant', not just something to control (Oct 1, 2026)[61] |
| Openbank (Santander US) | ONE Transformation: shared platforms, AI for every employee, agentic commerce[62][63][64][65][3] | Index 87.2 (#8); 15 use cases, 10 in production | Riley: AI lets her 'vibe code' a CRM tool herself (Oct 1, 2026)[8] |
| Chime | Jade, an in-app AI financial partner available to some members[66] | 8 use cases, 6 in production | Agreement to acquire Stride Bank (Sep 8, 2026)[67] |
| Credit unions | Not disclosed | No profile | Not disclosed |
| Square (Block) | Managerbot, an AI business agent for Square sellers[68] | 7 use cases, 6 in production | Q2 2026: Moneybot passes 1 million weekly engaged accounts (Aug 5, 2026)[69] |
Who should look beyond Valley, and where?
| If you are | Look at | Why |
|---|---|---|
| Customers who want an in-app AI assistant | Bank of America (Erica) | Valley's disclosed AI serves its staff and its collections calls, not an in-app assistant. Erica helps more than 24.6 million clients, and Bank of America holds 6.51% of New York-area deposits through 339 offices.[23][19][2] |
| People who want the largest branch network in the New York metro | JPMorgan Chase or TD Bank | Chase operates 662 offices and TD 363 in the New York-Newark-Jersey City metro, against Valley's 166 (June 2025).[2] |
| Savers who want a branchless direct bank | Ally or Chime | Valley's 10-K describes its branch-based, relationship model. Ally serves 9.5 million customers without branches, and Chime had 10.4 million active members at June 30, 2026.[1][7][9] |
| Florida customers who want a bank with a large South Florida branch base | BankUnited or Bank of America | Valley holds 1.05% of Miami-area deposits through 13 offices. BankUnited holds 6.00% through 36 offices and Bank of America 16.00% through 159 (June 2025).[4] |
| Sellers who want card acceptance and point-of-sale software from one provider | Square (Block) | Block's 10-K lists banks offering payment processing, checking, savings, loans and payroll among Square's competitors; Valley's small-business push runs through its pending Bluevine acquisition.[18][10] |
How does Valley rank by deposits in each of its states?
FDIC deposit-share ranks at June 30, 2025, as Valley reports them in its 2025 10-K.
Who are Valley National Bank's biggest competitors?
In the New York metro, JPMorgan Chase, Bank of America, TD Bank, Citibank and Wells Fargo lead by deposits, and Flagstar, Santander (with Webster), M&T, Citizens, Dime and ConnectOne compete at a similar or smaller scale. In Florida, BankUnited, Seacoast and the national banks. Its 10-K adds credit unions, fintechs, direct banks and asset managers.[2][4][1]
Is Valley the largest bank in New Jersey?
It is the largest commercial bank headquartered in New Jersey, per its 2025 10-K, but by deposit share it ranks 6th in the state and 10th in the wider New York, Northern New Jersey and Long Island market.[1]
Is Flagstar a competitor of Valley?
Yes. Flagstar sits in Valley's 2025 proxy peer group and holds almost the same New York-area deposit share: 1.32% through 149 offices against Valley's 1.36% through 166 (June 2025). On this site's AI disclosure index Valley scores 76.6 and Flagstar 65.3.[11][2]
Who competes with Valley in Florida?
In the Miami metro, Bank of America (16.00%), Chase (12.41%), Wells Fargo (11.14%), Truist (6.13%) and BankUnited (6.00%) lead, with Seacoast at 1.07% beside Valley's 1.05% (June 2025). Valley's 10-K ranks it 18th by deposits in Florida.[4][1]
Is Chime a competitor of Valley?
By category, yes: Valley's 10-K names fintech and direct-bank competitors that offer digital alternatives to retail banking. Chime's 10-K says its digital model gives it a cost advantage over traditional banks; it had 10.4 million active members at June 30, 2026. Neither names the other.[1][17][9]
What are alternatives to Valley for small business?
Bank of America calls itself the number one US small business lender (FDIC data), serving 4 million small businesses, and Square sells payments, point-of-sale software and banking to sellers. Valley is expanding here by buying Bluevine, a digital small-business bank with about 175,000 customers.[19][18][10]
Who will Valley compete with in Chicago?
Valley agreed in August 2026 to buy Providence Financial for $247 million, adding 14 Chicago-area branches, with closing expected in early 2027. In that metro Chase holds 19.94% of deposits and BMO 17.72%, followed by Bank of America (7.66%) and CIBC Bank USA (7.46%) (June 2025).[6][5]
- Valley National Bancorp Annual Report on Form 10-K for the fiscal year ended December 31, 2025
- Summary of Deposits, Deposit Market Share Report: New York-Newark-Jersey City, NY-NJ MSA, June 30, 2025 (retrieved 2026-10-19)
- Santander Expands U.S. Presence with Completion of Webster Acquisition
- Summary of Deposits, Deposit Market Share Report: Miami-Fort Lauderdale-West Palm Beach, FL MSA, June 30, 2025 (retrieved 2026-10-19)
- Summary of Deposits, Deposit Market Share Report: Chicago-Naperville-Elgin, IL-IN MSA, June 30, 2025 (retrieved 2026-10-19)
- Valley National Bank to acquire Chicago-area lender for $247M
- Ally Financial Names Mark Mathewson Chief Information and Data Officer
- The Most Powerful Women in Banking Women to Watch, #1, Christiana Riley, Santander U.S.
- Chime Reports Second Quarter 2026 Financial Results
- Valley National Bancorp to Acquire Bluevine Inc., Accelerating Its Digital Small Business Growth Strategy and Meaningfully Enhancing Its Core Funding Capabilities
- Valley National Bancorp 2026 Proxy Statement (DEF 14A)
- Fiserv and Flagstar Bank Announce Strategic Core Banking Relationship
- Santander to buy Webster for $12.3B
- M&T Bank expands enterprise AI after years of technology overhaul
- Seacoast Banking Corporation of Florida Annual Report on Form 10-K for the fiscal year ended December 31, 2025
- Large Commercial Banks (data as of June 30, 2026)
- Chime Financial, Inc. Annual Report on Form 10-K for the fiscal year ended December 31, 2025
- Block, Inc. Annual Report 2025 (Form 10-K)
- Bank of America Fast Facts (undated page, retrieved 2026-10-19)
- Valley Bank exec: AI is changing build-versus-buy question
- #47 Valley Bank's COO is building an AI-ready bank
- Nickolaus Lachman, SVP, Head of AI & Data Science, Valley Bank (Digital Banking speaker profile)
- Valley National Bancorp second quarter 2026 earnings presentation (Form 8-K, Exhibit 99.2)
- Valley National CEO Ira Robbins: AI agents not a threat to regional banks
- 2026 Company Update Transcript - Chairman and CEO Q&A
- JPMorgan's Lake sees longer road to agentic commerce adoption
- JPMorgan Chase blocks outside AI agents like Muse, Instinct from directly accessing accounts
- JPMorgan CEO Dimon warns customers of 'liability transfer' with AI
- JPMorgan warns of risks to consumers who rely on AI agents
- TD wins BIG Innovation Awards for fifth consecutive year
- TD Bank at Scotiabank summit: profit gains, AI push lift outlook (transcript)
- TD expands agentic AI across mortgage operations to make banking faster, simpler and more human
- U.S. Treasury Announces Record Enforcement Actions Against Bank of America
- OCC Imposes $750 Million Assessment Against Bank of America for Deficient BSA/AML Compliance
- BofA fined $1.21 billion over AML
- Flagstar Bank Announces Proprietary Technology Transformation
- Flagstar Bank, N.A. to Report Third Quarter 2026 Earnings and Host Conference Call on October 23rd
- Santander's data & AI-first strategy accelerates through OpenAI collaboration
- Santander turns its AI-first strategy into measurable impact and extends AI access to all 185,000 employees
- How M&T Bank ensures data quality as it implements gen AI
- AI agent bank runs possible but unlikely, experts say
- BankUnited Enhances Customer and Employee Satisfaction for SMB Banking Using AWS (undated case study, retrieved 2026-09-24)
- BankUnited, Inc. Quarterly Report on Form 10-Q for June 30, 2026
- Seacoast Bank and Quavo Partner to Enhance Dispute Operations and Reduce Fraud Losses
- AI Information
- Protect Your Business from Business Email Compromise
- Seacoast Bank cuts complex loan review documentation time nearly in half with Abrigo Loan Review Assistant
- Meet Lumi Assistant: BMO's award-winning AI tool empowering Team BMO
- Aura: Helping power BMO's goal of 50% faster underwriting by 2028
- BMO Establishes Institute for Applied Artificial Intelligence & Quantum
- BMO Earns Top Recognition for Responsible AI Leadership in Global Banking
- ConnectOne Bank is Building the Future of Commercial Lending on nCino’s Agentic Operating System
- ConnectOne Bancorp, Inc. Form 10-Q for the quarter ended March 31, 2026
- ConnectOne Bancorp, Inc. Form 10-Q for the quarter ended June 30, 2026
- New Jersey is latest frontier in NY bank's reinvention
- Citizens Financial's Michael Ruttledge is #43 on the Most Innovative People in Finance ranking
- Citizens details how AI is speeding everything up
- Citizens Q4 2026 Business Pulse Finds Rising Small Business Optimism Amid Steady Hiring and Increased AI Spending
- Ally Financial rolls out proprietary AI platform enterprise-wide
- Ally Financial 2025 Annual Report (CEO letter and Form 10-K)
- The Most Powerful Women in Banking Women to Watch, #9, Stephanie Richard, Ally Financial
- Santander's Botin Sees €1 Billion AI Boost Amid Efficiency Push
- Santander Equips All Workers With AI and Seeks $1.15 Billion Business Value
- Santander's Getnet Plugs Merchants Into Agentic Commerce
- Santander, Webster lay out post-deal management plan
- What is Jade Financial Partner? (help centre, retrieved 2026-09-23)
- Chime Announces Agreement to Acquire Stride Bank
- Square Brings Managerbot to More Sellers, Giving Main Street an Intelligent Business Agent
- Q2 2026 Shareholder Letter (Exhibit 99.1 to Form 8-K)
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