Articles from Valley National Bank

NEW YORK, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, today reported net income for the fourth quarter 2024 of $115.7 million, or $0.20 per diluted common share, as compared to the third quarter 2024 net income of $97.9 million, or $0.18 per diluted common share, and net income of $71.6 million, or $0.13 per diluted common share, for the fourth quarter 2023. Excluding all non-core income and charges, our adjusted net income (a non-GAAP measure) was $75.7 million, or $0.13 per diluted common share, for the fourth quarter 2024, $96.8 million, or $0.18 per diluted common share, for the third quarter 2024, and $116.3 million, or $0.22 per diluted common share, for the fourth quarter 2023. See further details below, including a reconciliation of our adjusted net income in the "Consolidated Financial Highlights" tables.

Valley Bank announced today the appointment of Kevin O’Connor as Market President for Long Island, NY. In this role, Mr. O’Connor will focus on deepening current relationships, new business development initiatives and cultivating growth opportunities throughout Long Island.

NEW YORK, Jan. 07, 2025 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, announced that it will release its fourth quarter 2024 earnings before the market opens on Thursday, January 23, 2025.

NEW YORK, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY) (“Valley”), the holding company for Valley National Bank (the “Bank”), announced that Thomas A. Iadanza has notified the Company of his intention to retire from his position as President effective June 30, 2025. Mr. Iadanza has led a distinguished 45-year career in banking including over the last 13 years at Valley. In his role as President, Mr. Iadanza has helped to lead Valley’s growth efforts and evolution to a leading regional bank.

Valley Bank (NASDAQVLY) announced the appointment of Gail Castellano as Senior Vice President and Division Head to lead the Bank’s expansion into Staten Island. With more than 30 years of banking experience, Castellano will be responsible for assembling and developing a strong team of trusted advisors and relationship bankers while leading business development, community service efforts, and strategic initiatives throughout the region. Also joining the Valley team in Staten Island are three veteran bankers: Rita Pirrone as Vice President and Market Manager, Narmada Tissera as Vice President, Retail Business Development Officer and Mark Giacalone, Vice President, Business Banker II.

NEW YORK, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY) (“Valley”), the holding company for Valley National Bank (the “Bank”), announced that the Bank closed on the sale of a diverse pool of performing commercial real estate mortgage loans to Brookfield Asset Management (NYSE: BAM, TSX: BAM) (“Brookfield”), a global alternative investment manager. The final loan pool sold had contractual balances totaling approximately $925 million, of which approximately $823 million had been previously identified and transferred to held for sale as of September 30, 2024. The loan pool was sold at a discount of approximately one percent to par value, and Valley will retain customer-facing servicing responsibilities.

NEW YORK, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY) (“Valley”), the holding company for Valley National Bank, announced today its regular preferred and common dividends. The declared quarterly dividends to shareholders of record on December 13, 2024 are as follows:        

NEW YORK, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (“Valley”) (NASDAQVLY), the holding company for Valley National Bank, today announced the pricing of a public offering of 42,780,748 shares of its common stock, no par value (the “Common Stock”), at a public offering price of $9.35 per share, for aggregate gross proceeds of $400 million.

NEW YORK, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (“Valley”) (NASDAQVLY), the holding company for Valley National Bank, today announced a proposed public offering of shares of its common stock, no par value (the “Common Stock”).

NEW YORK, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, today reported net income for the third quarter 2024 of $97.9 million, or $0.18 per diluted common share, as compared to the second quarter 2024 net income of $70.4 million, or $0.13 per diluted common share, and net income of $141.3 million, or $0.27 per diluted common share, for the third quarter 2023. Excluding all non-core income and charges, our adjusted net income (a non-GAAP measure) was $96.8 million, or $0.18 per diluted common share, for the third quarter 2024, $71.6 million, or $0.13 per diluted common share, for the second quarter 2024, and $136.4 million, or $0.26 per diluted common share, for the third quarter 2023. See further details below, including a reconciliation of our non-GAAP adjusted net income, in the "Consolidated Financial Highlights" tables.

Valley National Bank, a New Jersey-based regional bank with $62 billion in assets, is expanding its leadership team to strengthen its presence in the East Florida region.

Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NASDAQVLY), announces the closing of a $150 million five-year Senior Secured Term Loan Facility to Green Thumb Industries Inc. (“Green Thumb or the “Company”) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE Dispensaries. The Company intends to use the proceeds along with existing cash to retire its $225 million senior secured debt due April 30, 2025.

NEW YORK, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, announced that it will release its third quarter 2024 earnings before the market opens on Thursday, October 24, 2024.

NEW YORK, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY) (“Valley”), the holding company for Valley National Bank, announced today its regular preferred and common dividends. The declared quarterly dividends to shareholders of record on September 13, 2024 are as follows:

NEW YORK, July 29, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (“Valley”) (NASDAQVLY), the holding company for Valley National Bank, today announced the pricing of a public offering of 6,000,000 shares of its 8.250% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series C (the “Preferred Stock”), for gross proceeds of $150 million. Each share of the Preferred Stock will be issued at a public offering price of $25 per share and has a liquidation preference of $25 per share. Dividends on the Preferred Stock will accrue and be payable quarterly in arrears, at a fixed rate per annum equal to 8.250% from the date of original issue to, but excluding September 30, 2029, and thereafter at a rate per annum equal to the five-year U.S. treasury rate (as defined in the preliminary prospectus supplement relating to the offering) as of the most recent dividend payment date (as defined in the preliminary prospectus supplement) plus 4.182%.

NEW YORK, July 25, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, today reported net income for the second quarter 2024 of $70.4 million, or $0.13 per diluted common share, as compared to the first quarter 2024 net income of $96.3 million, or $0.18 per diluted common share, and net income of $139.1 million, or $0.27 per diluted common share, for the second quarter 2023. Excluding all non-core income and charges, our adjusted net income (a non-GAAP measure) was $71.6 million, or $0.13 per diluted common share, for the second quarter 2024, $99.4 million, or $0.19 per diluted common share, for the first quarter 2024, and $147.1 million, or $0.28 per diluted common share, for the second quarter 2023. See further details below, including a reconciliation of our non-GAAP adjusted net income, in the "Consolidated Financial Highlights" tables.

NEW YORK, July 09, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, announced that it will release its second quarter 2024 earnings before the market opens on Thursday, July 25, 2024.

NEW YORK, June 07, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, today announced that it has appointed John P. Regan as Senior Executive Vice President—Chief Risk Officer effective June 24, 2024. Mr. Regan will succeed Raja A. Dakkuri, who is leaving Valley to pursue another professional opportunity outside the banking industry. Mr. Dakkuri will remain in the position until Mr. Regan joins to ensure an orderly transition.   Mr. Regan will report directly to Ira Robbins, Chief Executive Officer and Chairman of Valley. In his role, Mr. Regan will oversee all aspects of Valley’s enterprise risk management program.

NEW YORK, May 30, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY) (“Valley”), the holding company for Valley National Bank, announced today its regular preferred and common dividends. The declared quarterly dividends to shareholders of record on June 13, 2024 are as follows:

Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, released “Building a Better Future” – the Bank’s 2023 Corporate Social Responsibility (CSR) Report highlighting its commitment to drive meaningful change through social economic and environmental initiatives. Last year, Valley invested more than $3 Billion to support organizations and communities in New Jersey, New York, Florida, Alabama, California, and Illinois. To view the full report click here or visit https://valley.com/2023-csr

NEW YORK, April 25, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, today reported net income for the first quarter 2024 of $96.3 million, or $0.18 per diluted common share, as compared to the fourth quarter 2023 net income of $71.6 million, or $0.13 per diluted common share, and net income of $146.6 million, or $0.28 per diluted common share, for the first quarter 2023. Excluding all non-core income and charges, our adjusted net income (a non-GAAP measure) was $99.4 million, or $0.19 per diluted common share, for the first quarter 2024, $116.3 million, or $0.22 per diluted common share, for the fourth quarter 2023, and $154.5 million, or $0.30 per diluted common share, for the first quarter 2023. See further details below, including a reconciliation of our non-GAAP adjusted net income, in the "Consolidated Financial Highlights" tables.

NEW YORK, April 11, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, announced that it will release its first quarter 2024 earnings before the market opens on Thursday, April 25, 2024.

Valley Bank (NASDAQVLY) released its third annual The Present and Future of Proptech report that examines the key macro factors shaping Proptech on the economic, demographic and market fronts as part of the backdrop to private investment trends. The report was developed in collaboration with Pitchbook, Chris Green, Founder and CEO of GreenPoint Partners and Zak Schwarzman, General Partner, MetaProp.

Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NASDAQVLY), announced today that their New York City Commercial Banking Team closed a $150 million senior revolving credit facility for a premier New York -based finance company. The three-year facility includes a $40 million accordion feature. The recipient of the loan provides accounts receivable and factoring services. Valley is the Administrative Agent and Sole Bookrunner for the deal. The deal closed in conjunction with Valley’s Syndications Team which supports the bank nationwide. Hovde Group advised on the transaction.

NEW YORK, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY) (“Valley”), the holding company for Valley National Bank, announced today its regular preferred and common dividends.

NEW YORK, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY) (“Valley”) today announced that its Board of Directors approved a stock repurchase program authorizing the purchase of up to 25 million shares of Valley common stock. Valley’s current stock repurchase program, unless terminated sooner, is set to expire on April 25, 2024. The authorization to repurchase under the new repurchase program will be effective on April 26, 2024 and expire on April 26, 2026. The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities.

NEW YORK, Jan. 25, 2024 (GLOBE NEWSWIRE) --  Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, today reported net income for the fourth quarter 2023 of $71.6 million, or $0.13 per diluted common share, as compared to the fourth quarter 2022 net income of $177.6 million, or $0.34 per diluted common share, and net income of $141.3 million, or $0.27 per diluted common share, for the third quarter 2023. Excluding all non-core items, our adjusted net income (a non-GAAP measure) was $116.3 million, or $0.22 per diluted common share, for the fourth quarter 2023, $182.9 million, or $0.35 per diluted common share, for the fourth quarter 2022, and $136.4 million, or $0.26 per diluted common share, for the third quarter 2023. See further details below, including a reconciliation of our adjusted net income in the "Consolidated Financial Highlights" tables.

NEW YORK, Jan. 15, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, announced that it will release its fourth quarter 2023 earnings before the market opens on Thursday, January 25, 2024.

NEW YORK, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY) (“Valley”), the holding company for Valley National Bank, announced today its regular preferred and common dividends.

Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NASDAQVLY), today announced the launch of its new Community Home Equity Line of Credit Program designed to support the needs of low-to-moderate income (LMI) borrowers.

Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NASDAQVLY), announces the closing of a $130 million senior revolving credit facility to Access Capital, Inc. a commercial lender to the staffing industry. The three year facility includes a $30 million accordion feature to upsize as the Company grows. Valley is the Administrative Agent, Sole Lead Arranger, and Sole Bookrunner for the deal. Valley Specialty Finance offers a variety of products and services including working capital lines of credit, in-house trade finance, cash management, and syndications.

Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NASDAQVLY), announced today it has hired Robert Danziger, a 30-year corporate finance veteran, as Managing Director, First Senior Vice President, and Head of the Bank’s Syndicated Finance business. Based both in New York and at Valley’s headquarters in Morristown, NJ, Danziger’s responsibilities include augmenting the Bank’s existing capabilities with clients throughout Valley’s territories including New Jersey, New York, Florida, Illinois, and California.

NEW YORK, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, today reported net income for the third quarter 2023 of $141.3 million, or $0.27 per diluted common share, as compared to the second quarter 2023 net income of $139.1 million, or $0.27 per diluted common share, and net income of $178.1 million, or $0.34 per diluted common share, for the third quarter 2022. Excluding all non-core income and charges, our adjusted net income (a non-GAAP measure) was $136.4 million, or $0.26 per diluted common share, for the third quarter 2023, $147.1 million, or $0.28 per diluted common share, for the second quarter 2023, and $181.5 million, or $0.35 per diluted common share, for the third quarter 2022. See further details below, including a reconciliation of our non-GAAP adjusted net income, in the "Consolidated Financial Highlights" tables.

NEW YORK, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, announced that it will release its third quarter 2023 earnings before the market opens on Thursday, October 26, 2023.

Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NASDAQVLY), announces the appointment of Sanjay Sidhwani as its first Chief Data and Analytics Officer. In this role, Sidhwani will oversee the bank’s data strategy and data management capabilities including enterprise data architecture, data platforms and services, data governance, data risk and data literacy. He will also be responsible for building out the bank’s advanced analytics capabilities to drive strategic objectives.

NEW YORK, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY) (“Valley”), the holding company for Valley National Bank, announced today its regular preferred and common dividends.

NEW YORK, July 27, 2023 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, today reported net income for the second quarter 2023 of $139.1 million, or $0.27 per diluted common share, as compared to the second quarter 2022 net income of $96.4 million, or $0.18 per diluted common share, and net income of $146.6 million, or $0.28 per diluted common share, for the first quarter 2023. Excluding all non-core charges, our adjusted net income (a non-GAAP measure) was $147.1 million, or $0.28 per diluted common share, for the second quarter 2023, $165.8 million, or $0.32 per diluted common share, for second quarter 2022, and $154.5 million, or $0.30 per diluted common share, for the first quarter 2023. See further details below, including a reconciliation of our non-GAAP adjusted net income, in the "Consolidated Financial Highlights" tables.

NEW YORK, July 12, 2023 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, announced that it will release its second quarter 2023 earnings before the market opens on Thursday, July 27, 2023.

Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, released “Inspiring Change” – the Bank’s 2022 Corporate Social Responsibility (CSR) Report that highlights its commitment to drive social, economic, and environmental success within the communities it serves. In 2022, Valley invested more than $3.4 Billion to support organizations and communities in New Jersey, New York, Florida, Alabama, California, and Illinois. To view the full report, click here or visit https://valley.com/2022-csr.

NEW YORK, May 23, 2023 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY) (“Valley”), the holding company for Valley National Bank, announced today its regular preferred and common dividends.

NEW YORK, April 27, 2023 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, today reported net income for the first quarter 2023 of $146.6 million, or $0.28 per diluted common share, as compared to the first quarter 2022 net income of $116.7 million, or $0.27 per diluted common share, and net income of $177.6 million, or $0.34 per diluted common share, for the fourth quarter 2022. Excluding all non-core charges, our adjusted net income (a non-GAAP measure) was $154.5 million, or $0.30 per diluted common share, for the first quarter 2023, $120.3 million, or $0.28 per diluted common share, for first quarter 2022, and $182.9 million, or $0.35 per diluted common share, for the fourth quarter 2022. See further details below, including a reconciliation of our non-GAAP adjusted net income in the “Consolidated Financial Highlights” tables.

Valley National Bank, a principal subsidiary of Valley National Bancorp (NASDAQVLY), today announced the launch of a new innovation platform which will accelerate and enhance its collaboration with fintech companies to meet the needs of Valley’s customers in a rapidly evolving digital environment.

Valley Bank released their second annual Present and Future of Proptech Report that summarizes industry trends and the impact of rising interest rates, remote work and economic uncertainty on the property tech category. The report was developed in collaboration with Pitchbook; Chase Gilbert, Co-Founder and CEO, Built Technologies; Jeffrey E. Berman, General Partner of Camber Creek; Chris Green, Founder and CEO of GreenPoint Partners, Kurt Ramirez, General Partner, Nine Four Ventures and Bryan Kallenberg, Vice President, Capital Markets.

NEW YORK, March 03, 2023 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY) (“Valley”), the holding company for Valley National Bank, announced today its regular preferred and common dividends.The declared quarterly dividends to shareholders of record on March 15, 2023 are as follows:        

NEW YORK, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, today reported net income for the fourth quarter 2022 of $177.6 million, or $0.34 per diluted common share, as compared to the fourth quarter 2021 net income of $115.0 million, or $0.27 per diluted common share, and net income of $178.1 million, or $0.34 per diluted common share, for the third quarter 2022. Excluding all non-core charges, our adjusted net income (a non-GAAP measure) was $182.9 million, or $0.35 per diluted common share, for the fourth quarter 2022, $125.0 million, or $0.29 per diluted common share, for the fourth quarter 2021, and $181.5 million, or $0.35 per diluted common share, for the third quarter 2022. See further details below, including a reconciliation of our adjusted net income in the "Consolidated Financial Highlights" tables.

NEW YORK, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, announced that it will release its fourth quarter 2022 earnings before the market opens on Thursday, January 26, 2023.

NEW YORK, Nov. 18, 2022 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY) (“Valley”), the holding company for Valley National Bank, announced today its regular preferred and common dividends.

NEW YORK, Oct. 27, 2022 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, today reported net income for the third quarter 2022 of $178.1 million, or $0.34 per diluted common share, as compared to the third quarter 2021 earnings of $122.6 million, or $0.29 per diluted common share, and net income of $96.4 million, or $0.18 per diluted common share, for the second quarter 2022. Excluding all non-core charges, our adjusted net income (a non-GAAP measure) was $181.5 million, or $0.35 per diluted common share, for the third quarter 2022, $124.7 million, or $0.30 per diluted common share, for third quarter 2021, and $165.8 million, or $0.32 per diluted common share, for the second quarter 2022. See further details below, including a reconciliation of our non-GAAP adjusted net income in the "Consolidated Financial Highlights" tables.

NEW YORK, Oct. 17, 2022 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQVLY), the holding company for Valley National Bank, announced that it will release its third quarter 2022 earnings before the market opens on Thursday, October 27, 2022.

Valley National Bank (NASDAQVLY) today announced the launch of a Community Lending platform to streamline processing as it ramps up its efforts to provide more financial products, resources and connections to women and minority-owned businesses.

Valley National Bank (NASDAQVLY) today announced a new partnership with The Community Preservation Corporation (CPC) to fund up to $100 million in permanent loans that meet various Environmental, Social and Governance (ESG) standards such as green building practices and reduced emissions. CPC and Valley are working to intentionally address the impacts of climate change through the mortgage process by incenting developers to reach further with a lower rate and higher leverage.

Valley National Bancorp (NASDAQVLY) today announced a $25 million investment in The Garage, a venture capital fund that builds and invests in early-stage startups in the fields of fintech, AI and cyber. The fund is backed by Bank Leumi, the leading bank in Israel and by BRM Group, a seasoned Israel-based family office with a proven track record that started with its initial investment in Check-Point in 1993.

Valley National Bank (NASDAQVLY) has issued its first annual Environmental, Social and Governance (ESG) report which highlights the Bank’s cultural and social progress and its focus on the risks and opportunities of climate change. The report covers the work accomplished in 2020 and first half of 2021 and represents Valley’s mission to promote inclusive economic opportunity, growth and positive societal impact. It also reinforces Valley’s commitment to SASB and TCFD frameworks. The full report can be found at www.valley.com/ESG.

Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NASDAQVLY), announced today the promotion of Thomas Iadanza to President. In this new role he will oversee the bank’s day-to-day operations including commercial banking, retail banking, digital products, credit, customer experience and financial services. A ten-year veteran at Valley, Iadanza was most recently Senior Executive Vice President, Chief Banking Officer.

Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NASDAQVLY) has created the National Deposits Group to focus on core deposit banking relationships located within the continental United States and select foreign territories. The group partners with businesses to help them meet their short term liquidity needs.

Valley National Bank, a subsidiary of Valley National Bancorp (NASDAQVLY), announced today that it is creating a new digital payment platform designed specifically for cannabis-related businesses.

Valley National Bank, a regional bank with approximately $41 billion in assets, is continuing its expansion into the greater Philadelphia region to provide financial services for growth-oriented small and mid-sized businesses. With a focus on Commercial and Industrial and Commercial Real Estate lending, Valley offers a range of solutions including revolving lines of credit, term loans and mortgages.