Valley National Bank, the largest bank based in North Jersey, said July 29 that it is entering the Philadelphia region with a loan production office focused on Commercial and Industrial Real Estate lending.
Based in Wayne, Valley has approximately $41 billion in assets and sees this expansion as a means to provide financial services for growth-oriented small and mid-sized businesses. Valley will offer a range of solutions including revolving lines of credit, term loans and mortgages.
Leading Valley’s commercial and industrial lending team in the region is Mark Biedermann, senior vice president, division head who recently joined the bank. With more than 32 years of commercial banking experience, Biedermann has held several executive and senior management positions at local banks in the Philadelphia region.
“For over 90 years, Valley has helped businesses achieve their financial goals through a relationship-based approach to banking and we see an opportunity to bring personalized service to the Philadelphia region,” commented Biedermann. “Through our customized, high-touch approach, we work side-by-side with businesses to understand the challenges they face and create tailored financing solutions that meet their needs rather than a one-size-fits all approach. We not only support our business clients but become active partners in the local community and are looking forward to building our team to bring our client-centric, relationship banking philosophy to this region.”
Joining Biedermann is Mwaura Muroki, senior vice president, Commercial Banker. A 20-year veteran of Valley, he specializes in business lending with expertise in debt financing, relationship management, and risk assessments.
Valley’s commercial real estate activities in the region will continue to be spearheaded by Stephen King, senior vice president.