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Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, private banking, retail, insurance, and wealth management financial services products. The company operates through Consumer Banking, Commercial Banking, and Treasury and Corporate other segments. It offers non-interest bearing, savings, NOW, money market, and time deposit accounts; commercial and industrial, commercial real estate, construction, residential mortgage, and automobile loans; loans secured by the cash surrender value of life insurance; home equity loans and lines of credit; automobile financing; and secured and unsecured other consumer loans. The company also invests in various securities and interest-bearing deposits with other banks; and provides international banking services. In addition, it offers investment services for individuals and small to medium sized businesses; and trusts investment strategies designed for various investment profiles and objectives. Further, the company provides trust services, such as living and testamentary trusts, investment management, custodial and escrow services, and estate administration to individuals; tax credit advisory services; brokerage services; property and casualty, life, health, and title insurance agency services; and health care equipment lending and other commercial equipment leasing services, as well as private banking and management services. Additionally, it offers niche financial services, including loan and deposit products for homeowners associations, cannabis-related business banking, and venture banking; online, mobile, and telephone banking services; credit cards; and automated teller machine services. Valley National Bancorp was founded in 1927 and is headquartered in Morristown, New Jersey.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.0B | - | $598M | $344M | 7.7% | 9.9% | 57.3% |
| 2024 | $1.8B | - | $380M | $549M | 5.1% | -2.0% | -23.7% |
| 2023 | $1.9B | - | $499M | $378M | 7.4% | 1.0% | -12.4% |
| 2022 | $1.9B | - | $569M | $1.4B | 8.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 1,861.95 | 1,879.93 | 1,842.80 | 2,025.68 |
| Pretax Income | 780.67 | 678.33 | 438.52 | 743.87 |
| Tax Provision | 211.82 | 179.82 | 58.25 | 145.89 |
| Net Income | 568.85 | 498.51 | 380.27 | 597.98 |
| Net Income Common Stockholders | 555.71 | 482.38 | 358.90 | 569 |
| Interest Expense | 321.04 | 1,473.41 | 1,728.79 | 1,468.84 |
| Interest Income | 1,976.68 | 3,138.89 | 3,357.50 | 3,232.48 |
| Selling General And Administration | 549.57 | 591.48 | 609.27 | 622.78 |
| Normalized Income | 620.10 | 550.79 | 380.04 | 595.97 |
| Basic EPS | 1.14 | 0.95 | 0.70 | 1.02 |
| Diluted EPS | 1.14 | 0.95 | 0.69 | 1.01 |
| Tax Effect Of Unusual Items | -19.05 | -18.85 | 0.04 | 0.49 |
| Tax Rate For Calcs | 0.27 | 0.27 | 0.13 | 0.20 |
| Total Unusual Items | -70.31 | -71.13 | 0.27 | 2.51 |
| Total Unusual Items Excluding Goodwill | -70.31 | -71.13 | 0.27 | 2.51 |
| Net Income From Continuing Operation Net Minority Interest | 568.85 | 498.51 | 380.27 | 597.98 |
| Reconciled Depreciation | 79.44 | 83.20 | 78.83 | 68.72 |
| Net Interest Income | 1,655.64 | 1,665.48 | 1,628.71 | 1,763.64 |
| Net Income From Continuing And Discontinued Operation | 568.85 | 498.51 | 380.27 | 597.98 |
| Diluted Average Shares | 487.82 | 509.25 | 517.99 | 563.83 |
| Basic Average Shares | 485.43 | 507.53 | 515.76 | 559.64 |
| Diluted NI Availto Com Stockholders | 555.71 | 482.38 | 358.90 | 569 |
| Preferred Stock Dividends | 13.15 | 16.14 | 21.37 | 28.98 |
| Net Income Including Noncontrolling Interests | 568.85 | 498.51 | 380.27 | 597.98 |
| Net Income Continuous Operations | 568.85 | 498.51 | 380.27 | 597.98 |
| Special Income Charges | -71.20 | -71.22 | 0.17 | 2.51 |
| Gain On Sale Of Business | 0 | 0 | 3.63 | 0 |
| Other Special Charges | 0 | 47.12 | 1.42 | -8.72 |
| Restructuring And Mergern Acquisition | 71.20 | 24.10 | 2.04 | 5.28 |
| Gain On Sale Of Security | -0.39 | -4.16 | 0.54 | -0.07 |
| Depreciation Amortization Depletion Income Statement | 37.83 | 39.77 | 35.05 | 30.43 |
| Depreciation And Amortization In Income Statement | 37.83 | 39.77 | 35.05 | 30.43 |
| Amortization | 37.83 | 39.77 | 35.05 | 30.43 |
| Amortization Of Intangibles Income Statement | 37.83 | 39.77 | 35.05 | 30.43 |
| General And Administrative Expense | 549.57 | 591.48 | 609.27 | 622.78 |
| Insurance And Claims | 22.84 | 37.86 | 52.72 | 48.55 |
| Salaries And Wages | 526.74 | 553.62 | 556.56 | 574.24 |
| Operating Revenue | 1,861.95 | 1,879.93 | 1,842.80 | 2,025.68 |
| Occupancy And Equipment | 256.10 | 252.18 | 237.23 | 226.17 |
| Professional Expense And Contract Services Expense | 82.62 | 77.03 | 70.31 | 85.97 |
| Other Non Interest Expense | 27.63 | 124.30 | 143.20 | 179.28 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Valley National Bancorpthis co. | VLY | $7.4B | 11.99 | 0.99 | 7.7% | - |
| Old National Bancorp | ONB | $9.1B | 12.14 | 1.11 | 7.9% | - |
| Hut 8 Corp. | HUT | $8.0B | - | 5.50 | -13.4% | -39.84 |
| Glacier Bancorp, Inc. | GBCI | $6.3B | 22.50 | 1.47 | 5.7% | - |
| Essent Group Ltd. | ESNT | $6.0B | 9.27 |
| 1.06 |
| 12.0% |
| 6.75 |
| United Bankshares, Inc. | UBSI | $6.0B | 12.14 | 1.10 | 8.5% | - |
| Flagstar Bank, National Association | FLG | $5.8B | - | 0.76 | -2.2% | - |
| Hancock Whitney Corporation | HWC | $5.4B | 13.68 | 1.22 | 10.9% | - |
| Home BancShares, Inc. | HOMB | $5.4B | 10.91 | 1.20 | 11.1% | - |
| Peer Median | - | 12.14 | 1.15 | 8.2% | -16.54 | |