[[Valley National Bank of Arizona]] was a bank in [[Phoenix]], [[Arizona]]. It was used in financial transactions related to [[Israel|Israeli]] arms sales and the release of [[USA|American]] hostages.[^1] In December 1980, $4 million, part of a larger $56 million payment for the release of [[USA|American]] hostages in [[Iran]], was deposited into an account belonging to [[Earl Brian]] at the [[Valley National Bank of Arizona|Valley National Bank]]. This transaction was handled by [[Ari Ben-Menashe]], who ensured a customs slip was obtained to legitimize the deposit.[^1] [[Valley National Bank of Arizona|Valley National Bank]] was also one of the [[USA|U.S.]] banks through which letters of credit for arms sales to [[Iran]] were routed, along with [[Chicago-Tokyo Bank]], [[Chemical Bank]], and [[Bank One]].[^1] ### Footnotes [^1]: Ben-Menashe, Ari. *Profits of War: Inside the Secret U.S.-Israeli Arms Network*. TrineDay, 1992. (Hereafter, "Profits of War")