---
category: Private Organization
location: Phoenix, Arizona
summary: Valley National Bank of Arizona, based in Phoenix, was used as a financial
  conduit in transactions connected to Israeli arms sales and negotiations over the
  release of American hostages.
tags:
- Organization
- Private
- Finance
- USA
---

[Valley National Bank of Arizona](/organizations/valley-national-bank-of-arizona/) was a bank in Phoenix, Arizona. It was used in financial transactions related to [Israeli](/places/israel/) arms sales and the release of [American](/places/united-states/) hostages.[^1]

In December 1980, $4 million, part of a larger $56 million payment for the release of [American](/places/united-states/) hostages in [Iran](/places/iran/), was deposited into an account belonging to [Earl Brian](/people/earl-brian/) at the [Valley National Bank](/organizations/valley-national-bank-of-arizona/). This transaction was handled by [Ari Ben-Menashe](/people/ari-ben-menashe/), who ensured a customs slip was obtained to legitimize the deposit.[^1]

[Valley National Bank](/organizations/valley-national-bank-of-arizona/) was also one of the [U.S.](/places/united-states/) banks through which letters of credit for arms sales to [Iran](/places/iran/) were routed, along with Chicago-Tokyo Bank, Chemical Bank, and Bank One.[^1]

[^1]: Ben-Menashe, Ari. *Profits of War: Inside the Secret U.S.-Israeli Arms Network*. TrineDay, 1992.