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	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	2,961	3,080	2,887	1,828	1,257	1,285
Interest Income on Investments	323.9	277.63	251.96	148.21	76.84	99.01
Total Interest Income	3,285	3,357	3,139	1,977	1,334	1,384
Interest Paid on Deposits	1,441	1,559	1,275	256.4	67.97	182.24
Interest Paid on Borrowings	157.83	169.86	198.64	64.64	56.35	82.58
Total Interest Expense	1,599	1,729	1,473	321.04	124.33	264.82
Net Interest Income	1,686	1,629	1,665	1,656	1,210	1,119
Net Interest Income Growth (YoY)	5.05%	-2.21%	0.59%	36.84%	8.13%	24.59%
Trust Income	60.64	62.62	44.16	34.71	14.91	12.42
Gain (Loss) on Sale of Assets	3.73	3.73	6.81	0.9	0.9	-
Gain (Loss) on Sale of Investments	-25.95	-18.85	-16.91	-13.64	-9.15	-12.81
Other Non-Interest Income	111.85	108.29	126.3	129.07	89.35	109.59
Total Non-Interest Income	199.39	198.22	207.72	194.39	144.1	169.7
Non-Interest Income Growth (YoY)	-3.49%	-4.57%	6.86%	34.89%	-15.08%	-12.58%
Revenues Before Loan Losses	1,885	1,827	1,873	1,850	1,354	1,289
Provision for Loan Losses	282.02	308.83	50.18	56.82	32.63	125.72
Revenue	1,603	1,518	1,823	1,793	1,321	1,163
Revenue Growth (YoY)	-3.09%	-16.73%	1.66%	35.71%	13.63%	8.89%
Salaries and Employee Benefits	532.96	527.57	516.42	497.95	354.98	314.65
Occupancy Expenses	56.66	53.87	54.43	49.55	43.44	42.89
Federal Deposit Insurance	45.1	52.72	37.86	22.84	14.18	18.95
Amortization of Goodwill & Intangibles	32.51	35.05	39.77	37.83	21.83	23.83
Selling, General & Administrative	273.81	282.67	297.88	317.97	182.36	164.39
Other Non-Interest Expense	130.91	124.25	120.42	86.42	53.34	53.19
Total Non-Interest Expense	1,072	1,076	1,067	1,013	670.13	617.89
EBT Excluding Unusual Items	531.41	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	527.95	438.52	678.33	780.67	640.74	530.07
Income Tax Expense	75.15	58.25	179.82	211.82	166.9	139.46
Net Income	452.79	380.27	498.51	568.85	473.84	390.61
Preferred Dividends & Other Adjustments	27.05	21.37	16.14	13.15	12.69	12.69
Net Income to Common	425.75	358.9	482.38	555.71	461.15	377.92
Net Income Growth	19.28%	-23.72%	-12.37%	20.05%	21.31%	26.09%
Basic Shares Outstanding	560	516	508	485	407	404
Diluted Shares Outstanding	560	518	509	488	410	405
Shares Change (YoY)	9.88%	1.72%	4.39%	18.98%	1.23%	19.09%
EPS (Basic)	0.76	0.70	0.95	1.14	1.13	0.94
EPS (Diluted)	0.76	0.69	0.95	1.14	1.12	0.93
EPS Growth	6.66%	-27.37%	-16.67%	1.79%	20.43%	6.90%
Dividend Per Share	0.220	0.440	0.440	0.440	0.440	0.440
Effective Tax Rate	14.24%	13.28%	26.51%	27.13%	26.05%	26.31%

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