VALLEY NATIONAL BANCORP

Listed Company

VLYPNCIK 0000714310NasdaqLarge AcceleratedNational Commercial BanksNew JerseyFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$597.98M

Total Assets

$64.13B

Equity

$7.81B

Shares Out

555.43M

Op. Cash Flow

$343.83M

+ 13F Filer

Business

VALLEY NATIONAL BANCORP is a bank holding company that provides commercial and consumer banking and related financial services through its banking and non-bank subsidiaries. It offers deposit and lending products, commercial real estate and construction financing, commercial and industrial loans, residential mortgages, home equity and auto loans, insurance, wealth management, brokerage and private banking services. Valley manages operations primarily through Consumer Banking and Commercial Banking operating segments, with Treasury and Corporate Other supporting functions; Wealth Management sits within Consumer Banking. It serves customers across New Jersey, New York, Florida, Alabama, California, Illinois and other U.S. markets via branches, ATMs and digital channels, and provides certain national and international niche services.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans	2,881	3,080	2,887	1,828	1,257
Taxable	274	182	131	106	56
Tax-exempt	19	19	20	18	12
Dividends	21	25	24	11	7
Interest on federal funds sold and other short-term investments	37	51	77	13	2
Total interest income	3,232	3,357	3,139	1,977	1,334
Savings, NOW and money market	812	914	739	187	43
Time	504	645	536	70	25
Interest on short-term borrowings	6	22	95	17	5
Interest on long-term borrowings and junior subordinated debentures	147	148	104	47	51
Total interest expense	1,469	1,729	1,473	321	—
Net Interest Income	1,764	1,629	1,665	1,656	1,210
Provision (credit) for credit losses for available for sale and held to maturity securities	87,000	−558,000	5	481,000	−263,000
Provision for credit losses for loans	140	309	46	56	33
Net Interest Income After Provision for Credit Losses	1,624	1,320	1,615	1,599	1,177
Insurance commissions	13	13	11	12	8
Capital markets	42	27	41	52	27
Gains on securities transactions, net	74,000	100,000	1	−1	2
Fees from loan servicing	13	12	11	11	12
Gains (losses) on sales of loans, net	7	−6	6	6	27
Losses (gains) on sales of assets, net	−3,000	4	7	897,000	901,000
Bank owned life insurance	20	17	12	8	9
Other	42	46	51	45	34
Total non-interest income	262	225	226	207	155
Salary and employee benefits expense	580	559	564	527	376
Net occupancy expense	102	102	101	94	79
Technology, furniture and equipment expense	124	135	151	162	89
FDIC insurance assessment	39	61	88	23	14
Amortization of other intangible assets	30	35	40	38	22
Professional and legal fees	87	70	81	—	—
Loss on extinguishment of debt	922,000	0	0	0	8
Amortization of tax credit investments	42	19	18	12	11
Other	137	124	120	86	53
Total non-interest expense	1,142	1,106	1,163	1,025	692
Income Before Income Taxes	744	439	678	781	641
Income tax expense	146	58	180	212	167
Net Income	598	380	499	569	474
Dividends on preferred stock	29	21	16	13	13
Net Income Available to Common Shareholders	569	359	482	556	461
Basic (in USD per share)	1.02	0.7	0.95	1.14	1.13
Diluted (in USD per share)	1.01	0.69	0.95	1.14	1.12

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	315	411	284	444	205
Interest bearing deposits with banks	1,268	1,479	607	504	1,845
Equity securities	83	72	65	49	37
Available for sale debt securities	4,202	3,370	1,297	1,261	1,129
Held to maturity debt securities (net of allowance for credit losses of $734 at December 31, 2025 and $647 at December 31, 2024)	3,496	3,532	3,739	3,827	2,668
Total investment securities	7,781	6,973	5,104	5,151	3,871
Loans held for sale (includes fair value of $8,212 at December 31, 2025 and $15,681 at December 31, 2024 for loans originated for sale)	26	26	31	18	140
Loans	50,137	48,800	50,210	46,917	34,154
Less: Allowance for loan losses	−583	−559	−446	−459	−359
Net loans	49,553	48,241	49,764	46,459	33,794
Premises and equipment, net	331	351	381	359	326
Lease right of use assets	314	328	343	306	259
Bank owned life insurance	738	732	724	717	567
Accrued interest receivable	244	240	245	197	97
Goodwill	1,869	1,869	1,869	1,869	1,459
Other intangible assets, net	101	129	160	197	70
Other assets	1,592	1,714	1,422	1,242	813
Total Assets	64,133	62,492	60,935	57,463	43,446
Non-interest bearing	12,156	11,429	11,539	14,464	11,676
Savings, NOW and money market	28,603	26,305	24,527	23,617	20,270
Time	11,424	12,343	13,177	9,556	3,687
Total deposits	52,183	50,076	49,243	47,637	35,632
Short-term borrowings	91	73	918	139	656
Long-term borrowings	2,909	3,174	2,328	1,543	1,424
Junior subordinated debentures issued to capital trusts	58	57	57	57	56
Lease liabilities	372	388	404	359	283
Accrued expenses and other liabilities	712	1,288	1,284	1,328	311
Total Liabilities	56,325	55,057	54,234	51,062	38,362
Common stock (no par value, authorized 650,000,000 shares; issued 560,878,750 shares at December 31, 2025 and 558,786,093 shares at December 31, 2024)	197	196	178	178	148
Surplus	5,465	5,442	4,990	4,980	3,883
Retained earnings	1,913	1,598	1,471	1,218	884
Accumulated other comprehensive loss	−74	−155	−146	−164	−18
Treasury stock, at cost (4,260,729 common shares at December 31, 2025)	−47	0	−1	−22	−23
Total Shareholders Equity	7,808	7,435	6,701	6,401	5,084
Total Liabilities and Shareholders Equity	64,133	62,492	60,935	57,463	43,446

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	38	44	43	42	29
Stock-based compensation	27	29	33	29	21
Provision for credit losses	140	309	50	57	33
Net accretion of discounts and amortization of premium on securities and borrowings	−9	−3	−2	11	30
(Gains) losses on available for sale and held to maturity debt securities, net	−17,000	15,000	−401,000	−95,000	545,000
Proceeds from sales of loans held for sale at fair value	185	254	206	390	1,181
Originations of loans held for sale	−173	−245	−205	−267	−1,004
Net deferred income tax expense (benefit)	11	−6	−9	7	27
Fair value of financial instruments hedged by derivative transactions	11	13	5	−29	−3
Trading debt securities	0	4	9	25	−38
Lease right of use assets	12	18	−37	2	−7
Cash surrender value of bank owned life insurance	−20	−17	−12	—	—
Accrued interest receivable	−4	6	−49	−74	12
Other assets	119	−263	−174	−229	153
Accrued expenses and other liabilities	−616	−11	−6	875	−64
Net cash provided by operating activities	344	549	378	1,428	837
Loans originated and purchased, net of principal collected	−1,477	−138	−3,347	−6,869	−1,037
Purchases	−14	−10	−14	−11	−4
Sales and capital returns	4	2	2	3	2
Purchases	−320	−103	−303	−839	−1,312
Maturities, calls and principal repayments	357	309	380	475	802
Purchases	−1,432	−2,388	−112	−55	−387
Sales	0	0	19	13	92
Maturities, calls and principal repayments	704	297	79	226	462
Death benefit proceeds from bank owned life insurance	13	9	5	5	5
Proceeds from sales of real estate property and equipment	2	3	18	11	9
Proceeds from sales of loans not originated for sale	17	1,227	0	0	4
Proceeds from sale of commercial premium finance lending division	0	98	0	0	—
Purchases of real estate property and equipment	−18	−16	−76	−69	−39
Net cash used in investing activities	−2,164	−709	−3,350	−6,788	−1,081
Net change in deposits	2,107	831	1,606	4,975	2,535
Net change in short-term borrowings	19	−845	779	−621	−492
Proceeds from issuance of long-term borrowings, net	210	1,002	1,252	148	296
Repayments of long-term borrowings	−488	−165	−475	0	−1,168
Proceeds from issuance of preferred stock, net	0	145	0	0	—
Cash dividends paid to preferred shareholders	−29	−21	−14	−13	−13
Cash dividends paid to common shareholders	−249	−228	−225	−206	−180
Purchase of common shares related to stock compensation plan activity	−10	−9	−9	—	—
Purchase of common shares to treasury	−63	0	−2	−24	−24
Common stock issued, net	18	451	4	120,000	11
Other, net	−156,000	−3,000	−18,000	−745,000	−680,000
Net cash provided by financing activities	1,514	1,160	2,915	4,257	964
Net change in cash and cash equivalents	−307	999	−57	−1,102	721
Interest on deposits and borrowings	1,530	1,738	1,360	281	138
Federal and state income taxes	53	90	237	172	163
Transfer of loans to other real estate owned, net	878,000	12	974,000	0	141,000
Transfer of loans to loans held for sale, net	23	1,043	10	0	0
Lease right of use assets obtained in exchange for operating lease liabilities	36	22	82	33	48

Filings

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Holdings (13F)

Portfolio as of 2014-12-31 · 321 positions

Reported AUM

$81.90M

Holdings

321

Top sector

$81.90M

Top sectors

Sector	Value	% of portfolio
Uncategorized	$81.90M	100.0%

Top holdings

Issuer	Ticker	Shares	Value	%
VANGUARD S/T CORP BOND	—	62.5K	$4.98M	6.1%
SPDR BARCLAYS INVESTMENT GRA	—	150.7K	$4.59M	5.6%
ISHARES 1-3 YEAR TREASURY BOND FUND ETF	—	51.3K	$4.33M	5.3%
VANGUARD SHORT TERM CORP BD	—	43.9K	$3.51M	4.3%
SPDR S&P 500 ETF TRUST	—	12.6K	$2.58M	3.2%
ISHARES TIPS BOND ETF	—	20.1K	$2.25M	2.8%
VALLEY NATIONAL BANCORP	—	219.1K	$2.13M	2.6%
SPDR S&P 500 ETF TRUST	—	7.7K	$1.58M	1.9%
ISHARES 1-3 YEAR TREASURY BOND FUND ETF	—	16.0K	$1.35M	1.6%
PROCTER & GAMBLE CO	—	14.7K	$1.33M	1.6%