Welcome to our dedicated page for Valley National Bancorp news (Ticker: VLY), a resource for investors and traders seeking the latest updates and insights on Valley National Bancorp stock.
Valley National Bancorp (NYSE: VLY) is a bank holding company with Valley National Bank as its principal wholly-owned subsidiary. Specializing in commercial, retail, trust, and investment services, Valley National Bancorp operates through an extensive network of 213 branches and 254 ATMs across northern and central New Jersey, New York City, Long Island, Florida, and Alabama.
As a regional bank, Valley National Bank provides a full range of banking services to both individual consumers and businesses. These services include cash management, consumer and commercial lending, investment alternatives, insurance, and estate planning solutions. Clients can access these services through traditional branches, ATMs, and digital platforms such as online banking and mobile apps.
Valley National Bancorp is distinguished by its conservative approach, which aims to safeguard the interests of its customers, shareholders, and employees, particularly during uncertain economic times. This approach allows the bank to deliver not only a wide array of resources but also customized solutions akin to those offered by local community banks. Their commitment to outstanding customer service has cemented their reputation as a trustworthy financial institution.
In recent years, Valley National Bancorp has focused on strategic acquisitions to expand its footprint beyond traditional banking. This has included an emphasis on wealth and capital management services, aiming to provide comprehensive financial solutions to its diverse clientele. The bank's core business segments are commercial lending, consumer lending, investment management, and corporate adjustments, with the majority of its interest income derived from commercial lending activities.
In terms of financial performance, Valley National Bancorp has shown consistent growth. The company's interest income is presented on a tax-equivalent basis using a 21 percent federal tax rate. Loan portfolios are net of unearned income and include non-accrual loans. The bank also manages available for sale securities based on average historical amortized costs and includes junior subordinated debentures issued to capital trusts.
Valley National Bancorp regularly updates its stakeholders with quarterly earnings reports. As of the latest update, the bank will release its fourth quarter 2023 earnings on January 25, 2024. This will be followed by a conference call hosted by CEO Ira Robbins, providing insights into the company's financial health and future plans.
For more information, you can visit their official website at valleynationalbank.com.
Valley National Bancorp (NASDAQ:VLY) announced shareholder approval for the issuance of common stock to facilitate the acquisition of Bank Leumi Le-Israel Corporation, the US subsidiary of Bank Leumi. Over 98% of voting shareholders favored this proposal at the Special Meeting. Valley has already received regulatory approvals from the Federal Reserve Bank of New York and the Office of the Comptroller of the Currency, but finalization depends on additional approvals from the New York State Department of Financial Services and the Bank of Israel.
Valley National Bancorp (VLY) will release its fourth quarter 2021 earnings on January 27, 2022, before the market opens. CEO Ira Robbins will host a conference call at 11:00 AM (ET) to discuss the earnings. Interested listeners can join by calling 866-354-0432, Conference ID: 2858424, or via a live webcast. The earnings presentation materials will be available on Valley's website prior to the call. Valley National Bank, the principal subsidiary, operates with over $41 billion in assets across multiple states.
Valley National Bancorp (NASDAQ:VLY) has received regulatory approval from the Federal Reserve Bank of New York and the Office of the Comptroller of the Currency for its acquisition of Bank Leumi Le-Israel Corporation, the U.S. subsidiary of Bank Leumi Le-Israel B.M. This acquisition is still pending additional approvals, including from the New York State Department of Financial Services and the Bank of Israel, as well as Valley's shareholders. Valley has over $41 billion in assets and aims to enhance its service offerings through this strategic acquisition.
Valley National Bancorp (NASDAQ: VLY) has announced the promotion of Thomas Iadanza to President of Valley National Bank. In this role, he will manage daily operations, including commercial and retail banking, digital products, and customer experience. Iadanza, a ten-year veteran of the bank, emphasized the institution's growth from $20 billion to nearly $50 billion in assets during this period. CEO Ira Robbins praised Iadanza’s leadership, anticipating further expansion and a continued focus on service-oriented banking.
Valley National Bancorp (NASDAQ:VLY) announced its regular quarterly dividends for shareholders of record on December 15, 2021. A cash dividend of $0.390625 per share will be paid on December 30, 2021, for its 6.25% Fixed-To-Floating Rate Non-Cumulative Perpetual Preferred Stock Series A. The 5.50% Fixed-To-Floating Rate Non-Cumulative Perpetual Preferred Stock Series B will receive $0.34375 per share. The common stock also receives a dividend of $0.11 per share on January 3, 2022. Notably, the common cash dividend remains unchanged from the previous quarter.
Valley National Bancorp (NASDAQ:VLY) has successfully completed its merger with The Westchester Bank Holding Corporation as of December 1, 2021. Valley will issue approximately 15.7 million shares of common stock, offering Westchester shareholders a conversion rate of 229.645 Valley shares for each Westchester share. The Westchester Bank, with about $1.3 billion in assets, is now merged under the Valley National Bank name, enhancing Valley's presence in Westchester County, New York. Full systems integration is anticipated to be finalized in Q1 2022.
Valley National Bank, a subsidiary of Valley National Bancorp (NASDAQ: VLY), has launched the National Deposits Group to strengthen its core deposit banking services across the U.S. This group targets businesses needing short-term liquidity, collaborating with industries such as 1031 exchange firms and private equity. Led by Martin Ball, the team aims to enhance client experiences through advanced technology and tailored banking solutions. Valley National Bank, managing around $41 billion in assets, emphasizes its commitment to customer satisfaction and community growth.
Valley National Bancorp (NASDAQ:VLY) reported a net income of $122.6 million, or $0.29 per diluted share for Q3 2021, up from $102.4 million in Q3 2020. Adjusted net income was $124.7 million, slightly down from $126.6 million in Q2 2021. Total loans increased by $149.4 million to $32.6 billion, despite a drop in PPP loans. The net interest income decreased marginally to $301.7 million. The efficiency ratio rose to 50.93%. Valley’s regulatory capital ratios remain robust, reflecting its well-capitalized status.
Valley National Bancorp (NASDAQ:VLY) has received necessary regulatory approvals for its acquisition of The Westchester Bank Holding Corporation. The merger is set to close on December 1, 2021, pending standard closing conditions. This acquisition, initially approved by Westchester stockholders on October 5, 2021, will enhance Valley's market presence and customer offerings. Valley, with approximately $41 billion in assets, is focused on providing accessible banking services across several states.
FAQ
What is the current stock price of Valley National Bancorp (VLY)?
What is the market cap of Valley National Bancorp (VLY)?
What services does Valley National Bancorp offer?
Where are Valley National Bank's branches located?
What is Valley National Bancorp's approach to banking?
How can I access Valley National Bank's services?
What are the main business segments of Valley National Bancorp?
How does Valley National Bancorp communicate its financial performance?
What recent strategic focus has Valley National Bancorp adopted?
Who is the CEO of Valley National Bancorp?
What is the ticker symbol for Valley National Bancorp?
Where can I find more information about Valley National Bancorp?
