Banking / Financial
On Apr 14, 2026
Morristown-based Valley Bank announced it is expanding its commercial banking operations into the Phoenix, Arizona market. Phoenix is already the home of Valley’s tax credit advisory affiliate, Dudley Ventures, and the effort will further strengthen the bank’s presence in this fast‑growing market. With this expansion, Valley now operates in six of the top 10 US Metropolitan Statistical Areas based on population. These markets represent over $2.3 trillion in deposits, over 60 million individuals, and more than 135,000 small and medium-sized businesses.
Valley’s Arizona expansion will be led by a commercial banking team with local market experience and a track record serving middle-market companies. The team will focus primarily on commercial and industrial (C&I) banking.
“Our expansion into Arizona is a meaningful milestone for Valley and a natural extension of our commercial banking strategy,” said Gino Martocci, president of commercial banking at Valley. “Arizona is one of the fastest growing and most capital-intensive economies in the nation. With population growth exceeding the U.S. average, more than $30 billion in annual business investment, and over $165 billion committed to advanced manufacturing alone, the state is attracting companies that are scaling rapidly and investing for the long term. Our existing presence through Dudley Ventures, and their connectivity to the local business community, gives us a strong foundation to build from. As one of the strongest regional banks in the country, we continue to invest strategically in markets where we can differentiate ourselves with experience and responsible scale, and deliver long‑term value for our clients and shareholders.”
The team will be overseen by Matt Weidle, regional president of commercial banking, and led by Heath Scheid, who joins Valley as regional president with more than two decades of commercial banking leadership experience in the Phoenix market; most recently, Scheid served as managing director and Southwest region head for a reputable financial institution, where he built and led high-performing commercial teams focused on middle-market growth, credit excellence, and disciplined expansion.
Joining Scheid is Patrick Epum, who will serve as Arizona market president, and Chad Hunter, who joins as senior relationship manager.
“Together, Arizona and the broader Southwest are driving a disproportionate share of U.S. population growth, capital investment, and job creation. With multi trillion-dollar regional GDP, sustained in-migration, and billions in annual private investment, the Southwest continues to emerge as one of the most dynamic commercial banking markets in the country,” said Weidle. “We’ve assembled an exceptional team to anchor our entry into Arizona. These leaders bring deep market knowledge, proven track records of driving results, and a shared commitment to relationship‑based banking. They are exactly the right people to lead our expansion, establish Valley’s presence in the region, and deliver on our brand promise of being a trusted, growth‑oriented partner to middle‑market businesses.”
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