Valley National Bancorp said Friday that it has a deal to acquire Ramapo Financial Corp. for $99 million in stock. The price equals about three times Ramapo's book value.

Ramapo, also in Wayne, is the holding company for Ramapo Bank, a $331 million-asset bank with eight branches in three northern New Jersey counties. The acquisition is expected to be completed by the end of the second quarter.

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