The Office of the Comptroller of the Currency approved Wayne, N.J.-based Valley National Bancorp's planned acquisition of Township of Washington, N.J.-based Oritani Financial Corp.
The deal is subject to other conditions including approval from the Federal Reserve and both companies' shareholders.
The combined company is expected to have about $38 billion in assets, $30 billion in loans, $29 billion in deposits and 245 branches across New Jersey, New York, Florida and Alabama.
