Valley National Bancorp (BIT:1VLY)

Valley National Bancorp Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	3,012	3,080	2,887	1,828	1,257	1,285
Interest Income on Investments	301.67	277.63	251.96	148.21	76.84	99.01
Total Interest Income	3,314	3,357	3,139	1,977	1,334	1,384
Interest Paid on Deposits	1,501	1,559	1,275	256.4	67.97	182.24
Interest Paid on Borrowings	157.68	169.86	198.64	64.64	56.35	82.58
Total Interest Expense	1,658	1,729	1,473	321.04	124.33	264.82
Net Interest Income	1,655	1,629	1,665	1,656	1,210	1,119
Net Interest Income Growth (YoY)	1.99%	-2.21%	0.59%	36.84%	8.13%	24.59%
Trust Income	59.72	62.62	44.16	34.71	14.91	12.42
Gain (Loss) on Sale of Assets	0.08	3.73	6.81	0.9	0.9	-
Gain (Loss) on Sale of Investments	-22.61	-18.85	-16.91	-13.64	-9.15	-12.81
Other Non-Interest Income	109.66	108.29	126.3	129.07	89.35	109.59
Total Non-Interest Income	191.34	198.22	207.72	194.39	144.1	169.7
Non-Interest Income Growth (YoY)	-11.51%	-4.57%	6.86%	34.89%	-15.08%	-12.58%
Revenues Before Loan Losses	1,847	1,827	1,873	1,850	1,354	1,289
Provision for Loan Losses	326.29	308.83	50.18	56.82	32.63	125.72
Revenue	1,520	1,518	1,823	1,793	1,321	1,163
Revenue Growth (YoY)	-13.53%	-16.73%	1.66%	35.71%	13.63%	8.89%
Salaries and Employee Benefits	530.24	527.57	516.42	497.95	354.98	314.65
Occupancy Expenses	55.43	53.87	54.43	49.55	43.44	42.89
Federal Deposit Insurance	47.35	52.72	37.86	22.84	14.18	18.95
Amortization of Goodwill & Intangibles	33.65	35.05	39.77	37.83	21.83	23.83
Selling, General & Administrative	275.05	282.67	297.88	317.97	182.36	164.39
Other Non-Interest Expense	127.57	124.25	120.42	86.42	53.34	53.19
Total Non-Interest Expense	1,069	1,076	1,067	1,013	670.13	617.89
EBT Excluding Unusual Items	451.03	441.98	756.24	780.67	651.25	544.99
Asset Writedown	-	-	-	-	-	-0.82
Legal Settlements	7.33	7.33	-3.54	-	-2.1	-
Other Unusual Items	-8.76	-8.76	-50.3	-	-8.41	-12.04
Pretax Income	448.19	438.52	678.33	780.67	640.74	530.07
Income Tax Expense	58.14	58.25	179.82	211.82	166.9	139.46
Net Income	390.05	380.27	498.51	568.85	473.84	390.61
Preferred Dividends & Other Adjustments	24.21	21.37	16.14	13.15	12.69	12.69
Net Income to Common	365.84	358.9	482.38	555.71	461.15	377.92
Net Income Growth	-12.98%	-23.72%	-12.37%	20.05%	21.31%	26.09%
Basic Shares Outstanding	529	516	508	485	407	404
Diluted Shares Outstanding	531	518	509	488	410	405
Shares Change (YoY)	4.25%	1.72%	4.39%	18.98%	1.23%	19.09%
EPS (Basic)	0.69	0.70	0.95	1.14	1.13	0.94
EPS (Diluted)	0.69	0.69	0.95	1.14	1.12	0.93
EPS Growth	-18.73%	-27.37%	-16.67%	1.79%	20.43%	6.90%
Dividend Per Share	0.440	0.440	0.440	0.440	0.440	0.440
Effective Tax Rate	12.97%	13.28%	26.51%	27.13%	26.05%	26.31%

Source: S&P Global Market Intelligence. Banks template. Financial Sources.