Valley National Bancorp (VLY)

Valley National Bancorp Income Statement

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

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

Updated Feb 28, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q