Valley Natl Bancorp - VLY STOCK NEWS

Valley National Bancorp (NASDAQ:VLY) announced it will release its second quarter 2021 earnings before the market opens on July 22, 2021. The CEO Ira Robbins will host a conference call at 11:00 AM ET to discuss the earnings. Investors can listen by dialing 866-354-0432 or join the live webcast. Presentation materials will be available prior to the call on the company's website. Valley National Bank, with approximately $41 billion in assets, aims to empower communities and businesses across New Jersey, New York, Florida, and Alabama.

Valley National Bancorp (NASDAQ: VLY) announced the pricing of $300 million in 3.00% Fixed-to-Floating Rate Notes due 2031. Interest will be 3.00% until June 15, 2026, transitioning to a floating rate plus 236 basis points. Proceeds will enhance regulatory capital and support general corporate purposes. The offering concludes on May 28, 2021. Joint book-running managers for the offering are Piper Sandler & Co. and BofA Securities. The Notes qualify as Tier 2 capital under regulatory requirements.

Valley National Bancorp (NASDAQ:VLY) announced regular preferred and common dividends for shareholders of record on June 15, 2021. The cash dividend details are as follows: $0.390625 per share for Series A preferred stock and $0.34375 per share for Series B preferred stock, both payable on June 30, 2021. Additionally, a cash dividend of $0.11 per share will be paid on common stock on July 1, 2021. The common stock dividend remains unchanged from the previous quarter. Investors are advised that this amount should not be taken as a future indicator for dividends.

Valley National Bancorp reported a net income of $115.7 million or $0.28 per diluted share for Q1 2021, up from $87.3 million in Q1 2020. Net interest income increased to $293.6 million, driven by a rise in the SBA Paycheck Protection Program loan portfolio. Loans rose by $469.3 million to $32.7 billion. However, non-interest income fell by $16.3 million to $31.2 million. The allowance for credit losses for loans stood at $354.3 million. Overall, credit quality showed improvement with declining past-due loans.

Valley National Bancorp (NASDAQ: VLY) has released its 2020 Corporate Social Responsibility (CSR) report titled Catalyst For Change. The report emphasizes the bank's dedication to community support amidst a challenging year marked by a pandemic and social issues. Key highlights include $3.6 million in charitable giving, $2.3 billion in PPP loans to approximately 13,000 businesses, and over $2 million committed through the Community Pledge CD. The bank aims to enhance its CSR initiatives and community engagement in 2021.

Valley National Bancorp (NASDAQ: VLY) will release its first-quarter 2021 earnings on April 29, 2021, before the market opens. President and CEO Ira Robbins will lead a conference call on the same day at 11:00 AM (ET) to discuss the results. Interested parties can join the call by dialing 855-638-5437 with Conference ID: 1474989. The event will also be available via live webcast and archived on Valley's website. The bank holds approximately $41 billion in assets, serving customers across New Jersey, New York, Florida, and Alabama.

Valley National Bancorp (NASDAQ:VLY) announced its regular dividends for preferred and common stock. Shareholders of record on March 15, 2021, will receive the following cash dividends: $0.390625 per share for Series A preferred stock, $0.34375 for Series B preferred stock, and $0.11 for common stock. All dividends are payable on March 30 and April 1, 2021, with the common stock dividend remaining unchanged from the previous quarter. The company emphasizes that this amount should not be taken as an indicator for future dividends.

Valley National Bancorp (NASDAQ:VLY) reported a net income of $105.4 million for Q4 2020, up from $38.1 million in Q4 2019. Adjusted net income rose to $113.4 million. Net interest income reached $288.8 million, increasing by $49.2 million year-over-year. However, total loans fell by $198.5 million compared to Q3 2020. The provision for credit losses decreased to $19 million. Total deposits increased by 2.4% to $31.9 billion. The efficiency ratio was 51.61%, illustrating improved operational efficiency. Valley aims for growth following robust performance amidst pandemic challenges.

Valley National Bancorp (NASDAQ: VLY) has announced the appointments of Christopher M. Brigati and Peter Belasco as Senior Vice Presidents - Managing Directors of Municipal Investments. Their roles involve managing a municipal investment strategy and enhancing the Bank’s municipal offerings. Brigati brings over 20 years of experience, including significant roles at Morgan Stanley, while Belasco has more than 25 years in the municipal industry. This strategic hiring is part of Valley's commitment to developing a more dynamic Capital Markets and Wealth Management platform.