Valley National Bancorp reported third-quarter 2026 net income of $206.3 million, compared with $163.355 million a year earlier. Net interest income was $505.451 million versus $446.224 million, and diluted earnings per common share were $0.36 versus $0.28.
At September 30, 2026, total assets were $67.471 billion, deposits were $55.229 billion and loans were $53.190 billion. At December 31, 2025, deposits were $52.183 billion and loans were $50.137 billion. Quarterly other comprehensive loss was $132.569 million, including $132.830 million in net unrealized losses on available-for-sale securities.
Valley said it will acquire Providence Financial Corporation for estimated consideration of $246 million, based on Valley’s October 26, 2026 closing price of $14.05, including $64 million in cash and approximately 13.0 million Valley shares. The acquisition is expected to close in early 2027, subject to regulatory and Providence shareholder approvals and customary conditions. Valley also will acquire Bluevine Inc.’s outstanding equity for $340 million, subject to specified adjustments, comprising approximately $255 million in cash and approximately 6.3 million Valley shares. That acquisition is expected to close in early 2027, subject to regulatory approvals and customary conditions.
Valley National Bancorp (VLY) and Providence Financial Corporation have agreed to a merger in which Providence will merge into Valley. Immediately afterward, Providence Bank & Trust will merge into Valley National Bank. If completed, each Providence common share entitled to consideration under the merger agreement will carry the right to receive $21.47 in cash and 4.3854 Valley shares; cash will be paid instead of fractional shares.
Based on Providence common stock and net option shares outstanding as of October 26, 2026, Valley expects to issue approximately 12,991,716 shares and pay approximately $63,604,722 in cash to their holders in the aggregate. At VLY’s October 26, 2026 closing price of $14.05, the stated implied value was approximately $83.08 per Providence share; that value will fluctuate with Valley’s share price.
Providence shareholders will vote on the merger at a special meeting on December 14, 2026. Approval requires at least a majority of the voting power of outstanding shares entitled to vote. The companies expect to complete the merger in early 2027, subject to shareholder approval, regulatory approvals and other closing conditions. Providence’s board unanimously recommends voting for both proposals.
Valley National Bancorp (VLY) is registering shares to be issued in its proposed merger with Providence Financial Corporation; Providence would merge into Valley, and Providence Bank & Trust would then merge into Valley National Bank. If completed, each eligible Providence common share would convert into $21.47 in cash, without interest, and 4.3854 shares of Valley common stock. The value of the stock consideration will fluctuate with Valley’s share price. Based on Providence common shares and net option shares outstanding as of October 26, 2026, Valley expects to issue approximately 12,991,716 shares and pay approximately $63,604,722 in cash in aggregate. At Valley’s October 26, 2026 closing price of $14.05, the stated implied value was approximately $83.08 per Providence share.
Completion is subject to Providence shareholder approval, regulatory approvals and other closing conditions; the merger proposal requires at least a majority of the voting power of outstanding shares entitled to vote. The special meeting is December 14, 2026, and the companies expect to complete the merger in early 2027. Providence Series B and Series C preferred shares are to be redeemed immediately before the effective time for $1,000 per share plus declared but unpaid dividends.
Valley National Bancorp (VLY) reported third-quarter 2026 net income of $206.3 million, or $0.36 per diluted share, compared with $163.4 million, or $0.28, in third-quarter 2025. Net interest income on a tax-equivalent basis was $506.8 million and net interest margin on that basis was 3.28%, versus $447.5 million and 3.05% a year earlier. Valley also reported a non-GAAP efficiency ratio of 49.38%, compared with 53.37% a year earlier; non-interest income was $78.7 million, versus $64.9 million.
At September 30, 2026, deposits totaled $55.2 billion and loans totaled $53.2 billion. Net loan charge-offs were $37.1 million, compared with $14.6 million a year earlier. Valley repurchased 2.5 million common shares at an average price of $13.86 during the quarter. Its pending acquisitions of Providence Financial Corporation and Bluevine Inc. are expected to close in early 2027, subject to regulatory approvals and customary closing conditions; Providence also requires shareholder approval.
Valley National Bancorp proposes to merge Providence Financial Corporation into Valley, with Valley as the surviving corporation; immediately afterward, Providence Bank & Trust would merge into Valley National Bank, which would survive. If completed, each eligible Providence common share would convert into $21.47 in cash, without interest, plus 4.3854 shares of Valley common stock. No fractional Valley shares would be issued; holders instead receive cash for fractional interests. The exchange ratio is fixed, while the stock component’s market value will fluctuate.
At Valley’s August 24, 2026 closing price of $14.10, the implied value of the consideration was approximately $83.30 per Providence share. Providence Series B and Series C preferred shares are to be redeemed immediately before closing for $1,000 per share plus declared but unpaid dividends. Completion requires approval by at least a majority of Providence’s outstanding voting power entitled to vote, along with regulatory approvals and other closing conditions; the companies expect completion in early 2027. The agreement provides for a $11,115,000 termination fee in specified circumstances.
Valley National Bancorp (VLY) reported that Patrick D. Smith, its SEVP, Pres Consumer Banking, had 15,600 shares of common stock withheld on October 1, 2026, to satisfy tax withholding obligations arising upon vesting of restricted stock units. The reported price was $12.62 per share, and Smith directly held 118,115 shares of common stock following the transaction.
Valley National Bancorp (VLY) entered into an agreement to acquire Bluevine Inc. for $340 million in aggregate consideration, subject to adjustments under the agreement and customary closing conditions. Consideration is expected to include approximately $255 million in cash and approximately 6.3 million Valley common shares. The acquisition is expected to close in early 2027, subject to standard regulatory approvals and satisfaction or waiver of other customary closing conditions.
Bluevine brings $2.1 billion of deposits and approximately 175,000 active small-business customers. Its platform-generated deposits grew at an approximately 35% compound annual growth rate from 2023 through the second quarter of 2026. The acquisition is expected to be approximately 8% accretive to estimated 2028 earnings per share, including expected synergies, and to result in approximately 5% tangible book value dilution at closing, with an estimated earn-back period of approximately three years. Bluevine co-founder and CEO Eyal Lifshitz is expected to join Valley as Head of Small Business Banking after closing.
Valley National Bancorp (VLY) announced a definitive Agreement and Plan of Merger to acquire Providence Financial Corporation, parent of Providence Bank & Trust, in a stock-and-cash transaction valued at $247 million based on Valley’s $14.10 share price on August 24, 2026. Each Providence share will be exchanged for 4.3854 VLY shares plus $21.47 in cash, with Valley issuing about 13 million new shares. Providence, with $1.6 billion in assets, $1.3 billion in deposits, $1.1 billion in loans and $800 million of wealth AUM as of June 30, 2026, will be merged into Valley, followed by a merger of Providence Bank & Trust into Valley National Bank.
The deal expands Valley’s presence in the Chicagoland market, where the combined franchise is expected to have about $1.6 billion of deposits and $1.9 billion of loans post-closing. On a pro forma basis as of June 30, 2026, the combined company would have approximately $67.9 billion in assets, $55.5 billion in deposits and $53.5 billion in loans. Valley projects cost savings of about $10 million pre-tax (25% of Providence’s noninterest expenses), restructuring charges of $17 million pre-tax, and a loan credit mark of 1.65% of Providence’s loans. The transaction is expected to be roughly 2% EPS accretive by 2028, less than 1% dilutive to tangible book value with an earnback of under three years, and to reduce CET1 by less than 10 basis points, with an internal rate of return above 20%. Closing is targeted for early 2027, subject to regulatory and Providence shareholder approvals, and Valley has committed $3 million over three years to Chicago-area community organizations.
Valley National Bancorp reported Q2 2026 net income of 170,885 (vs 133,167 in Q2 2025), with diluted EPS rising to $0.29 from $0.22. Net interest income grew to 487,024, while the provision for credit losses on loans declined to 29,166 from 37,795, supporting stronger profitability.
For the first half of 2026, net income reached 334,798 and diluted EPS $0.57, up from 239,225 and $0.40 a year earlier. Total non-interest income increased to 142,547, though non-interest expense also rose to 621,049. Net charge-offs for the six months were 39,590, compared with 79,778 in the prior-year period.
At June 30, 2026, total assets were 66,318,308, loans 52,467,251, and deposits 54,118,607. The allowance for loan losses stood at 590,600, plus 16,320 for unfunded commitments, against non-accrual loans of 462,629 and collateral-dependent loans of 447,583. During 2026, the company issued $500 million of 6.219% subordinated notes due 2036 and redeemed $300 million of 3.00% notes due 2031, while continuing common and preferred dividends and repurchasing shares.