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Valley National gets necessary approvals for USAmeriBancorp deal

Wayne, N.J.-based Valley National Bancorp has received all the necessary regulatory and shareholder approvals to acquire Clearwater, Fla.-based USAmeriBancorp Inc.

The Federal Reserve Bank of New York had previously approved the deal.

The merger is expected to close on Jan. 1, 2018. The combined company is expected to have more than $28 billion in assets and 238 branches.