Welcome to our dedicated page for Valley Natl Bancorp news (Ticker: VLY), a resource for investors and traders seeking the latest updates and insights on Valley Natl Bancorp stock.
Valley National Bancorp (NYSE: VLY), the parent company of Valley National Bank, provides a centralized resource for tracking official news and financial developments. This page aggregates press releases, regulatory filings, and strategic updates from the regional banking leader serving customers across New Jersey, New York, Florida, and beyond.
Investors and stakeholders will find timely updates on quarterly earnings, business expansions, and leadership announcements, alongside analysis of regulatory developments impacting regional banking. The curated collection enables efficient tracking of VLY's performance in commercial lending, cash management innovation, and community-focused financial services.
Content spans critical updates including merger activity, dividend declarations, and technology investments, providing insights into the bank's conservative growth strategy. Bookmark this page for direct access to primary source materials from a financial institution balancing traditional banking values with modern service delivery.
Valley National Bancorp announced its acquisition of Dudley Ventures, a leading advisory firm focused on tax credit investments. This strategic move is expected to enhance Valley's capabilities in community development, having invested over $2 billion in tax credits in the past 20 years. The acquisition includes Dudley's affiliated entities and aims to leverage Valley's extensive commercial real estate expertise, furthering their commitment to economically distressed communities. Valley plans to utilize Dudley’s tax credit strategies to strengthen its community impact.
Valley National Bancorp (NASDAQ:VLY) will announce its third quarter 2021 earnings on October 28, 2021, before the market opens. The company's President and CEO, Ira Robbins, will host a conference call at 11:00 AM (ET) to discuss the earnings report. Interested stakeholders can participate by calling toll-free 855-638-5437, using Conference ID: 6339087. The call will also be webcast live and archived on the Valley website until November 29, 2021.
Valley National Bank has approximately $41 billion in assets and serves regions in New Jersey, New York, Florida, and Alabama.
Valley National Bancorp (VLY) has entered into a merger agreement to acquire Bank Leumi Le-Israel Corporation, expanding its commercial product offerings and enhancing funding verticals. The deal is valued at approximately $1,148 million, combining assets of $8.4 billion from Bank Leumi. The transaction is expected to be 7% accretive to earnings in 2023, with minimal tangible book value dilution. Valley aims to leverage Leumi's technology and venture capital banking business, enhancing its revenue diversity. The merger is anticipated to close in early 2022, pending regulatory approvals.
Artistic Tile has filed a lawsuit against Valley Bank (NASDAQ: VLY) for allegedly cashing over $5 million in counterfeit checks from May to July 2021. Despite a 34-year relationship, the bank failed to implement adequate safeguards, allowing fraudulent transactions to occur. Artistic Tile's executives, including Founder Nancy Epstein, attempted to communicate with bank officials but received no response. After discovering the fraud, Artistic Tile informed law enforcement of the bank's shortcomings, raising questions about its security practices.
Valley National Bancorp (NASDAQ:VLY) announced quarterly dividends for shareholders on record as of September 15, 2021. A cash dividend of $0.390625 per share will be paid on its 6.25% Fixed-To-Floating Rate Preferred Stock Series A, and $0.34375 per share on the 5.50% Fixed-To-Floating Rate Preferred Stock Series B, both on September 30, 2021. Additionally, the common stock dividend is set at $0.11 per share, payable October 1, 2021, unchanged from the previous quarter. These dividends underscore the bank's commitment to shareholder returns amidst its operational strategy.
Valley National Bank is expanding its presence in the greater Philadelphia region, focusing on providing financial services to small and mid-sized businesses. With approximately $41 billion in assets, Valley emphasizes its expertise in Commercial and Industrial lending as well as Commercial Real Estate loans, offering tailored financing solutions. The bank's regional commercial lending team is led by Mark Biedermann, a seasoned professional with over 32 years of experience. The move aims to enhance personalized banking services and support local businesses in achieving their financial goals.
Valley National Bancorp (NASDAQ:VLY) reported a net income of $120.5 million for Q2 2021, up from $95.6 million in Q2 2020. Adjusted net income reached $126.6 million, reflecting strong performance in net interest income, which increased to $301.8 million. The bank's net interest margin improved to 3.18%. Total loans decreased by $229 million due to a drop in PPP loans, while non-PPP loans showed a robust annualized growth of 10.4%. Valley also announced the acquisition of The Westchester Bank, enhancing its regional market presence.
Valley Bank (NASDAQ:VLY) is enhancing its digital banking capabilities to expand its services nationwide. The bank launched Valley Direct, offering a high-yield savings account accessible via a quick online application. Valley aims to transform by investing in technology and partnerships with Fintechs, emphasizing a transition from physical branches to a comprehensive digital ecosystem. New hires, including Chris Craver and Walt Cox, bring extensive experience in financial technology, focusing on product development and digital payment systems, respectively. This marks a pivotal step in Valley's commitment to providing superior financial services.
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