Valley Bank, the largest commercial bank headquartered in New Jersey, announced its organic entry into the Arizona market. The move establishes a dedicated commercial and industrial (C&I) banking team in Phoenix, further solidifying the bank’s national presence in high-growth metropolitan areas.
The expansion leverages Valley’s existing local foundation through Dudley Ventures, its Phoenix-based tax credit advisory affiliate acquired in 2021. With this addition, Valley now operates in six of the ten largest U.S. metropolitan areas, providing access to a combined $2.3 trillion in deposits and a robust base of small and medium-sized businesses.
The Phoenix expansion mirrors Valley’s successful service models in other “wealth-dense” markets like Florida, California, and Illinois. Arizona currently attracts over $30 billion in annual business investment, with massive commitments to advanced manufacturing.
“Arizona is a natural extension of our strategy,” Gino Martocci, president of Commercial Banking at Valley said. “With more than $165 billion committed to advanced manufacturing alone, the state is attracting companies that are scaling rapidly and investing for the long term.”
To lead the charge, Valley has recruited a team of veteran Phoenix-area bankers with extensive middle-market experience:
- Heath Scheid, Regional President: A 20-year veteran of the Phoenix market, Scheid previously served as Managing Director and Southwest Region Head for a major financial institution.
- Patrick Epum, Arizona Market President: Epum brings nearly two decades of experience in capital markets and institutional finance, advising companies on complex growth strategies.
- Chad Hunter, Senior Relationship Manager: A specialist in business development with a track record of building partnerships across diverse Southwest industries.
The team will be overseen by Matt Weidle, regional president of Commercial Banking, and will operate out of Valley’s offices at 22 East Jackson Street in Phoenix—shared with the Dudley Ventures team.
By co-locating with Dudley Ventures, Valley’s new C&I team can provide unique integrated solutions. Dudley Ventures has invested over $2 billion in tax credit transactions (New Markets, Historic, and Low-Income Housing) since its inception in 1996. This established connectivity to the Arizona business community provides Valley with an immediate “home-field” advantage in the Southwest.
“We are investing in top talent, staying disciplined in our approach, and focusing on markets where we believe Valley can truly differentiate,” Martocci added.
