Investor Spotlight: Valley Bank
February 19, 2019
Valley Bank is a regional bank with approximately $31 billion in assets. Valley is committed to giving people and businesses the power to succeed. Valley operates more than 220 branches across New Jersey, New York, Florida and Alabama, and is committed to providing the most convenient service, the latest innovations and an experienced and knowledgeable team dedicated to meeting customer needs. Helping communities grow and prosper is the heart of Valley’s corporate citizenship philosophy.
Ron Ciganek holds an MBA from Oral Roberts University. He began his banking career with Barnett Bank in 1991, followed by commercial banking positions with AmSouth Bank and Regions Bank. In 2010, he joined Valley Bank as Commercial Banking Manager, focused on Commercial and Industrial clients based in Tampa Bay. As an Executive Vice President, he also oversees the Treasury Management division. Ciganek has served the community participating in various organizations including the St. Petersburg Chamber of Commerce Board of Governors, All Children’s Hospital Development Council, Junior Achievement, Greater Tampa Chamber of Commerce, Tampa Bay Partnership, Chi Chi Rodriguez Foundation and Saint Paul’s School. He has served on the Board and Executive Committees for United Way of Tampa Bay, served as Chair of Visit Tampa Bay 2011-2012, and served on the Executive Board of the 2012 Tampa Bay Host Committee for the 2012 Republican National Convention.
What was Valley’s biggest motivator to getting involved with the EDC as an Investor?
As a local bank, we feel a responsibility to give back to our community and that includes economic development. Attracting and expanding businesses helps our community grow, and the EDC is a big driver of that growth. We want to help fuel that growth and one way we can is by finding ways to help new companies entering the Tampa market and investing in our existing local businesses.
What makes Tampa attractive for businesses?
When I think of Tampa, some of the key words that come to mind are diversity, engagement, giving, welcoming and passionate. It doesn’t matter your role or title at a company, you see everyone getting involved and there is a willingness to get involved. And you don’t have to be from here to make your mark. It’s an easy place to connect.
You see people giving of their time, treasure and talent consistently and its great to see that aspect of giving. The passion people show and have for our community is powerful.
How do you attract and retain top talent?
We’ve been able to retract and retain top talent because we’ve created a culture that fosters employee engagement and empowerment. As a local bank, we’re engrained in the community and want to help local companies succeed and grow, which leads to job creation for the community at large – much like the EDC’s focus. So, we’ve created a culture where local decision-making matters.
We’re also committed to our employees’ career growth and have clearly defined paths that help employees with their development and upward trajectory. Our culture is also heavily influenced by giving back. Our employees see us giving back to the community at an organizational level and by top management. We also provide paid time off for employees to volunteer individually to causes their passionate about, but we also provide opportunities for employees to volunteer together as a group. Those have proven to be great team building activities.
How does the bank impact the Tampa market?
We provide the capital local businesses need to grow, which also supports the creation and retention of local jobs. But it’s more than just banking these businesses. We become their trusted advisor and advocate for all aspects of their business. We also love connecting our customers together that result in mutually beneficial relationships.
We’re also engaged with the local community, serving on community boards and economic development initiatives. And since we’re local, we know where we need to show up in order to make the greatest impact that is meaningful. Through serving our customers and our community, we’re able to make a difference in a lot of people’s lives, and that’s what it’s all about.
The bank recently rebranded to simply Valley Bank with a new logo and revamped digital platforms. What does the rebrand signify for customers and the local community?
Banking is changing and so are the ways people bank. That’s why we’re refreshing our brand as we work to stay ahead of industry trends and technologies. Our new look reflects a forward-thinking Valley while celebrating our more than 90-year legacy. We’re also shortening our name to “Valley” in most instances—a simpler name that reflects what our customers already call us.
Our ultimate vision for Valley is to leave a lasting impact on our communities by committing to the success of everyone we serve—from hard-working families who want to open a college fund to business owners who want to expand. Whatever our customers’ goals are, we have the solutions that can help power them to success.