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Key Takeaways VLY reported Q2 adjusted EPS of 30 cents, missing the 31-cent estimate.Valley National posts 13.3% y/y revenue growth as NII and non-interest income climb.VLY sees loan and deposit growth, but rising expenses and higher non-performing assets remain concerning. Valley National Bancorp's (VLY - Free Report)

second-quarter 2026 adjusted earnings per share of 30 cents missed the Zacks Consensus Estimate by a penny. However, the bottom line compared favorably with earnings of 23 cents in the year-ago quarter.

Results were hampered by higher non-interest expenses. Higher net interest income (NII), increased non-interest income, lower provisions for credit losses, and growth in loan and deposit balances acted as tailwinds.

Results excluded certain non-core charges. Including those, net income available to common shareholders was $163.6 million, which jumped 29.6% from the year-ago quarter.

Valley National’s Revenues Improve, Expenses RiseTotal revenues (on an FTE basis) were $562.1 million, up 13.3% year over year. The top line beat the Zacks Consensus Estimate of $552.02 million.

NII (FTE basis) was $488.4 million, up 12.6% year over year. The net interest margin (FTE basis) was 3.2%, which expanded 19 basis points (bps).

Non-interest income jumped 17.7% to $73.7 million. The rise was driven by an increase in almost all fee income components, except fees from loan servicing, net gains on sale of loans, and bank-owned life insurance.

Non-interest expenses of $311.1 million increased 9.5% year over year. The rise was due to an increase in almost all cost components, except for FDIC insurance assessment costs and amortization of other intangible assets. Additionally, no loss on extinguishment of debt was reported this quarter.

The efficiency ratio was 52.11%, down from 55.20% in the prior-year quarter. A decline in the efficiency ratio indicates an improvement in profitability.

VLY’s Loans & Deposits RiseAs of June 30, 2026, total loans were $52.5 billion, up 6.2% year over year. This increase was driven by growth across all loan categories. Total deposits were $54.1 billion, up 6.7% year over year.

Valley National’s Credit Quality: A Mixed BagAs of June 30, 2026, total non-performing assets were $467.8 million, up 6.4% year over year, primarily due to higher non-accrual loans, partially offset by other real estate owned (OREO), and other repossessed assets.

However, allowance for credit losses as a percentage of total loans was 1.16%, down 4 bps year over year. In the second quarter of 2026, VLY reported total provision for credit losses of $29.2 million, a 22.8% year-over-year decline.

VLY’s Profitability Improves, Capital Ratios MixedAt the end of the second quarter, adjusted annualized return on average assets was 1.05%, up from 0.87% in the year-earlier quarter. Adjusted annualized return on average shareholders’ equity was 8.75%, up from 7.15%.

As of June 30, 2026, the tangible common equity to tangible assets ratio was 8.71%, up from 8.63% in the corresponding period of 2025. Tier 1 risk-based capital ratio was 11.37%, down from 11.57%. Also, the common equity tier 1 capital ratio of 10.71% was down from 10.85% as of June 30, 2025.

Valley National’s Share Repurchase UpdateIn the reported quarter, VLY repurchased 1.5 million shares at an average price of $13.4 under its ongoing stock buyback program.

Our Take on VLYRobust loan growth, stabilizing funding costs, and efforts to enhance fee income are expected to keep supporting Valley National’s top-line growth. However, elevated expenses and significant exposure to commercial real estate loans remain near-term headwinds. 
 

Valley National currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of VLY’s PeersHancock Whitney Corp.’s (HWC - Free Report) second-quarter 2026 earnings per share of $1.55 matched the Zacks Consensus Estimate. The bottom line rose 17.4% from the year-ago quarter.

HWC’s results were primarily aided by higher NII and non-interest income along with a decline in provisions. Also, a sequential increase in loans and deposit balances was positive. However, higher expenses were the undermining factor.

BankUnited, Inc.’s(BKU - Free Report) second-quarter 2026 earnings of 97 cents per share missed the Zacks Consensus Estimate of $1.02. However, the bottom line rose 6.6% from the prior-year quarter.

Results were primarily hurt by a rise in non-interest expenses. Also, sequential declines in loans and deposits were negatives. However, higher NII and fee income, along with lower provisions, provided some support to BKU’s performance.

Valley National (VLY - Free Report) came out with quarterly earnings of $0.3 per share, missing the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.23 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -3.23%. A quarter ago, it was expected that this holding company for Valley National Bank would post earnings of $0.27 per share when it actually produced earnings of $0.29, delivering a surprise of +7.41%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Valley National, which belongs to the Zacks Banks - Northeast industry, posted revenues of $562.1 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.83%. This compares to year-ago revenues of $496.28 million. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Valley National shares have added about 24.3% since the beginning of the year versus the S&P 500's gain of 9.6%.

What's Next for Valley National?While Valley National has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Valley National was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.34 on $570.28 million in revenues for the coming quarter and $1.30 on $2.27 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, The Bancorp (TBBK - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on July 30.

This holding company for The Bancorp Bank is expected to post quarterly earnings of $1.36 per share in its upcoming report, which represents a year-over-year change of +7.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

The Bancorp's revenues are expected to be $166.7 million, down 8% from the year-ago quarter.

3 high-yielding, small banks to buy on the dipValley National Bancorp NASDAQ: VLY reported second-quarter 2026 earnings that management said reflected continued progress in deposit gathering, relationship-based lending, fee income growth and operating efficiency.

Chief Executive Officer Ira Robbins said the bank generated “strong customer deposit growth,” including meaningful gains in non-interest-bearing balances, while loan growth remained concentrated in commercial and industrial lending and owner-occupied commercial real estate. The company reported net income of approximately $171 million, or $0.29 per diluted share. Excluding certain non-core items, adjusted net income was approximately $173 million, or $0.30 per diluted share.

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S&P Downgrades 5 Banks: What Does It Mean For The Market?Robbins said adjusted pre-provision net revenue rose 6% from the prior quarter and reached 1.64% of average assets, which he said was the highest level since the fourth quarter of 2022.

Deposits and Lending Drive Growth Chief Financial Officer Travis Lan said direct customer deposits increased $1.1 billion during the quarter. That included nearly $300 million of non-interest-bearing deposit growth, $200 million of interest-bearing non-maturity deposits and $600 million of retail certificates of deposit.

Analysts Remain Bullish On These 3 Regional BanksLan said Valley also used $200 million of incremental brokered deposits to fund a temporary timing mismatch tied to strong loan growth. The company also rotated nearly $700 million of floating-rate NOW balances into brokered CDs within its indirect deposit portfolio. Total deposit costs were effectively unchanged from the first quarter and remained below the 2.67% level from a year earlier, according to Lan.

Loans increased $1.6 billion during the quarter, or about 13% on an annualized basis. Lan said growth continued to focus on C&I and owner-occupied CRE loans, with strength in New York, Florida and Illinois, as well as the company’s healthcare vertical. Regulatory CRE, which excludes owner-occupied loans, grew less than $100 million during the quarter.

Valley’s CRE concentration ratio declined to approximately 317% at June 30 from 329% at March 31. Lan attributed the decline to organic capital generation and the company’s May 2026 subordinated debt issuance.

Net Interest Income and Fee Income Improve Net interest income on a tax-equivalent basis increased to $488 million, up approximately $16 million from the first quarter and $55 million from the year-earlier period. Net interest margin expanded three basis points from the prior quarter to 3.20% and was up 19 basis points from the second quarter of 2025.

Lan said the increase reflected higher average loan balances and higher yields on new loan originations and investment securities. Those benefits were partly offset by the cost of carrying excess subordinated debt between Valley’s issuance of $500 million in May and the redemption of $300 million of callable notes in June, which he estimated reduced net interest income by about $2 million.

Non-interest income increased $4.9 million to $73.7 million and represented more than 13% of total revenue. The sequential increase was driven primarily by a $2.6 million rise in capital markets revenue and a $1.6 million increase in wealth management and trust fees. Lan said fee growth reflected higher transaction volumes in loan participations and syndications, as well as tax credit advisory services.

Management said fee income is expected to move toward the higher end of Valley’s previously announced 6% to 9% growth range for 2026. During the question-and-answer session, Lan said interest rate swap income within capital markets was “slightly elevated” in the quarter due to strong commercial real estate originations, potentially by $1 million to $2 million, but said other fee categories continued to show growth opportunities.

Expense Discipline and AI Strategy in Focus Reported non-interest expense was $311 million, up approximately $1 million from the first quarter. Adjusted non-interest expense increased by $5 million, as lower compensation costs were offset by higher FDIC expense, third-party spending tied to operational transformation efforts and incremental costs related to growth and fee income results.

Valley’s efficiency ratio improved to 52.1% from 53.1% in the first quarter and 55.2% a year earlier. Lan said management expects the efficiency ratio to continue improving as revenue grows and expenses remain controlled.

Robbins highlighted technology and artificial intelligence as priorities for scaling the franchise. He said banks that effectively adopt AI could potentially lower efficiency ratios by around 500 basis points over time. Robbins pointed to Valley Ventures, the company’s international and technology banking business, and its relationship with Bank Leumi in Israel as structural advantages supporting its AI strategy.

In response to an analyst question, Robbins said Valley is already seeing returns from AI-related efforts. Lan said the company has generated about $15 million of savings in the expense run rate against approximately $3 million to $4 million of new AI-associated expenses, including headcount and vendor spending.

Lan also said Valley continues to expect its efficiency ratio to be 50% or lower as it exits 2026, with further improvement possible beyond that. Robbins said the company’s guidance for reaching a 15% return on tangible common equity around the beginning of 2028 remains unchanged and does not rely on AI benefits to achieve that target.

Credit Trends Show Mixed Signals Valley reported a modest increase in non-accrual and past due loans during the quarter, but management emphasized improvement in criticized and classified assets. Lan said criticized and classified assets declined to 7.3% of total loans from 8.1% in the prior quarter and 9.0% a year earlier.

Mark Saeger, executive vice president and chief credit officer, said improvements in CRE reflected upgrades and payoffs tied to assets that had been in transition or lease-up. He said the company is seeing positive progress in office lease-up and that Valley expects continued positive movement in criticized assets.

Net charge-offs totaled $22 million, or 17 basis points of average loans, compared with $18 million, or 14 basis points, in the first quarter. The provision for credit losses on loans was $29 million, up from $21 million in the prior quarter. Lan said the higher provision was due in part to strong loan growth, particularly in C&I loans. The allowance for credit losses declined to 1.16% of total loans from 1.18% at March 31.

Outlook Remains Positive Lan said Valley is maintaining its “strong outlook” for 2026 based on first-half results and continued business momentum. The bank now expects gross loan growth at or somewhat above the high end of its range, while fee income is expected to trend toward the high end of its prior range. Deposit growth and net interest income guidance were unchanged from the upward revision provided on the prior quarter’s call.

Valley returned approximately $81 million to shareholders during the quarter through common dividends and the repurchase of 1.5 million shares. Lan said buyback activity was lower because of exceptional loan growth and that the company will continue to adjust repurchases based on near-term loan growth expectations.

Robbins said Valley’s priorities remain focused on growing core deposits, deepening commercial relationships, generating more diversified loan and fee income growth, and improving operating efficiency. He said management expects continued execution in those areas to support stronger returns over time.

About Valley National Bancorp (NASDAQ:VLY)Valley National Bancorp NASDAQ: VLY is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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NEW YORK, July 23, 2026 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ: VLY), the holding company for Valley National Bank, today reported net income for the second quarter 2026 of $170.9 million, or $0.29 per diluted common share, as compared to the first quarter 2026 net income of $163.9 million, or $0.28 per diluted common share, and net income of $133.2 million, or $0.22 per diluted common share, for the second quarter 2025. Excluding all non-core charges, our adjusted net income (a non-GAAP measure) was $172.8 million, or $0.30 per diluted common share, for the second quarter 2026, $168.9 million, or $0.29 per diluted common share, for the first quarter 2026, and $134.4 million, or $0.23 per diluted common share, for the second quarter 2025. See further details below, including a reconciliation of our non-GAAP adjusted net income, in the "Consolidated Financial Highlights" tables.

Ira Robbins, CEO, commented, "This quarter's strong results reflect the continued execution of our strategic vision. Despite continued competition across our geographies and business lines, our relationship-led value proposition has resulted in strong non-interest bearing deposit and C&I loan growth."

Mr. Robbins continued, "At the same time, we remain focused on operational efficiency and the re-allocation of resources from manual processing to franchise-enhancing customer acquisition areas. We anticipate further financial improvement through the remainder of the year and we look forward to continuing to create long-term value for our shareholders."

Key financial highlights for the second quarter 2026:

Net Interest Margin and Income: Our net interest margin on a tax equivalent basis of 3.20 percent for the second quarter 2026 increased 3 basis points and 19 basis points from the first quarter 2026 and second quarter 2025, respectively. Net interest income on a tax equivalent basis of $488.4 million for the second quarter 2026 increased $15.6 million and $54.7 million compared to the first quarter 2026 and second quarter 2025, respectively. The increase in net interest income from the first quarter 2026 was mainly driven by an increase in average loans, higher yields on new loan originations and investment securities purchased, as well as one additional day during the second quarter 2026. These tailwinds were partially offset by the cost of carrying excess subordinated notes between the time of our successful issuance of $500 million of new notes in May 2026 and the redemption of $300 million of callable notes in June 2026. See additional details in the "Net Interest Income and Margin" and "Other Borrowings" sections below.Deposits: Total deposit balances increased $1.3 billion to $54.1 billion at June 30, 2026 as compared to $52.9 billion at March 31, 2026. Direct customer deposits increased $1.1 billion during the second quarter 2026 mainly due to inflows from retail CD offerings and growth in our commercial customer deposits. Non-interest bearing deposits increased $298.6 million reflecting continued expansion of relationships with commercial banking customers during the second quarter 2026. See the "Deposits" section below for more details.Loan Portfolio: Total loans increased $1.6 billion, or 12.9 percent on an annualized basis, to $52.5 billion at June 30, 2026 from March 31, 2026 mostly due to increases of $857.2 million and $638.9 million in commercial and industrial (C&I) loans and total commercial real estate (CRE) loans, respectively. Loan originations from a range of relationship-driven small to midsize clients continued to drive the growth in C&I loans during the second quarter 2026, while new owner occupied and select multifamily loan originations were the primary contributors to the growth in the CRE loan portfolio at June 30, 2026. Our CRE loan concentration ratio (defined as total CRE loans held for investment and held for sale, excluding owner occupied loans, as a percentage of total risk-based capital) continued to decline to approximately 317 percent at June 30, 2026 from 329 percent at March 31, 2026 largely due to organic capital accretion and a $200 million increase in (Tier 2) total risk-based capital during the quarter. See the "Loans" section below for more details.Allowance and Provision for Credit Losses for Loans: The allowance for credit losses for loans totaled $606.9 million and $599.8 million at June 30, 2026 and March 31, 2026, respectively, representing 1.16 percent and 1.18 percent of total loans at each respective date. During the second quarter 2026, we recorded a provision for credit losses for loans of $29.2 million as compared to $21.2 million and $37.8 million for the first quarter 2026 and second quarter 2025, respectively. See the "Credit Quality" section below for more details.Credit Quality: Net loan charge-offs totaled $22.0 million for the second quarter 2026 as compared to $17.5 million and $37.8 million for the first quarter 2026 and second quarter 2025, respectively. Total accruing past due loans (i.e., loans past due 30 days or more and still accruing interest) increased $52.3 million to $180.2 million, or 0.34 percent of total loans, at June 30, 2026 as compared to $127.9 million, or 0.25 percent of total loans, at March 31, 2026. The increase was mainly due to a few larger CRE loans within the 30 to 59 days past due delinquency category. Non-accrual loans totaled $462.6 million, or 0.88 percent of total loans, at June 30, 2026 as compared to $432.6 million, or 0.85 percent of total loans, at March 31, 2026. See the "Credit Quality" section below for more details.Non-Interest Income: Non-interest income increased $4.9 million to $73.7 million for the second quarter 2026 as compared to the first quarter 2026 mainly driven by $2.6 million and $1.6 million increases in capital markets, and wealth management and trust fees, respectively. The fee increases were largely due to increased transaction volumes within loan participations and syndications and tax credit advisory services during the second quarter 2026.Non-Interest Expense: Non-interest expense increased $1.2 million to $311.1 million for the second quarter 2026 as compared to the first quarter 2026. The increase was largely driven by a $4.4 million increase in professional and legal fees mostly due to higher third-party managed services and consulting fees related to our operational transformation efforts, as well as incremental increases in technology and FDIC assessment expenses. These items were partially offset by a $5.3 million decrease in salary and employee benefits expense during the second quarter 2026 largely resulting from our continued focus on resource optimization, as well as the normal seasonal decline in payroll taxes from the first quarter 2026.Efficiency Ratio: Our efficiency ratio was 52.11 percent for the second quarter 2026 as compared to 53.10 percent and 55.20 percent for the first quarter 2026 and second quarter 2025, respectively. See the "Consolidated Financial Highlights" tables below for additional information regarding our non-GAAP measures.Performance Ratios: Annualized return on average assets (ROA), shareholders’ equity (ROE) and tangible common shareholders' equity (ROTCE) were 1.04 percent, 8.65 percent and 11.91 percent for the second quarter 2026, respectively. Annualized ROA, ROE, and ROTCE, adjusted for non-core income and charges, were 1.05 percent, 8.75 percent and 12.05 percent for the second quarter 2026, respectively. See the "Consolidated Financial Highlights" tables below for additional information regarding our non-GAAP measures.
Net Interest Income and Margin

Net interest income on a tax equivalent basis of $488.4 million for the second quarter 2026 increased $15.6 million and $54.7 million compared to the first quarter 2026 and the second quarter 2025, respectively. Interest income on a tax equivalent basis increased $26.7 million to $830.7 million for the second quarter 2026 as compared to the first quarter 2026. The increase was mostly due to (i) increased average loan balances largely driven by growth in C&I and owner occupied CRE loans during the first half of 2026, (ii) additional interest income from purchases of higher-yielding taxable investments and (iii) one additional day in the second quarter 2026. Total interest expense increased $11.2 million to $342.4 million for the second quarter 2026 as compared to the first quarter 2026. The increase was mainly the result of (i) higher average time deposits and short-term borrowings balances during the second quarter 2026, (ii) the higher cost of certain non-maturity deposit products and short-term borrowings, (iii) the cost of carrying excess subordinated debt for a portion of the quarter, as well as (iv) the aforementioned increase in day count as compared to the first quarter 2026. See the "Deposits" and "Other Borrowings" sections below for more details.

Net interest margin on a tax equivalent basis of 3.20 percent for the second quarter 2026 increased 3 basis points from 3.17 percent for the first quarter 2026 and 19 basis points from 3.01 percent for the second quarter 2025. The yield on average interest earning assets increased by 5 basis points to 5.44 percent on a linked quarter basis largely due to higher yields on new loan originations and investment securities purchased during the second quarter 2026. The overall cost of average interest bearing liabilities increased by 4 basis points to 3.10 percent for the second quarter 2026 as compared to the first quarter 2026 largely due to the higher cost of non-maturity deposits and short-term borrowings, as well as the cost of carrying excess subordinated debt for a portion of the quarter. Our cost of total average deposits was 2.28 percent for the second quarter 2026 as compared to 2.27 percent and 2.67 percent for the first quarter 2026 and second quarter 2025, respectively.

Loans, Deposits and Other Borrowings

Loans. Total loans increased $1.6 billion, or 12.9 percent on an annualized basis, to $52.5 billion at June 30, 2026 from March 31, 2026. C&I loans increased by $857.2 million, or 30.9 percent on an annualized basis, to $12.0 billion at June 30, 2026 from March 31, 2026 largely driven by new originations from a range of relationship-driven small to midsize clients as a result of our continued focus on expansion of new loan production within this category. Total CRE (including construction) loans increased $638.9 million to $30.3 billion at June 30, 2026 from March 31, 2026 mostly due to solid customer demand and loan originations largely within our healthcare vertical of the owner occupied loan category. Non-owner occupied loans decreased $357.2 million from March 31, 2026 mainly due to our continued targeted runoff of transactional/non-relationship loans, which outpaced limited new originations in this category during the second quarter 2026. Residential mortgage loans increased $113.9 million from March 31, 2026 mainly due to continued retention of most new loan origination activity and modest levels of prepayments. Total consumer loans increased $28.5 million from March 31, 2026 primarily due to the combined growth in home equity loans and other collateralized personal lines of credit, partially offset by a $48.0 million decrease in automobile loans as repayments outpaced consumer demand.

Deposits. Actual ending balances for deposits increased $1.3 billion to $54.1 billion at June 30, 2026 from March 31, 2026 mainly due to increases of $1.5 billion and $298.6 million in time and non-interest bearing deposits, respectively, partially offset by a $506.1 million decline in the savings, NOW and money market deposit category. The increase in time deposits was largely driven by our targeted retail CD offerings and higher indirect customer CD balances. The increase in non-interest bearing deposits was mainly due to continued deposit inflows from commercial banking customers during the second quarter 2026. The decrease in savings, NOW and money market deposits from March 31, 2026 was mainly driven by lower brokered and governmental account balances at June 30, 2026. Total indirect customer deposits (consisting of both brokered time and money market deposits) totaled $5.3 billion and $5.1 billion at June 30, 2026 and March 31, 2026, respectively. Non-interest bearing deposits; savings, NOW and money market deposits; and time deposits represented approximately 23 percent, 53 percent and 24 percent of total deposits at June 30, 2026 as compared to 23 percent, 55 percent and 22 percent at March 31, 2026.

Other Borrowings. Short-term borrowings increased $369.6 million to $433.5 million at June 30, 2026 from March 31, 2026 due to $375 million of short-term FHLB advances outstanding at June 30, 2026, partially offset by a modest decline in securities sold under repurchase agreements. Long-term borrowings totaled $2.6 billion at June 30, 2026 and increased $46.3 million as compared to March 31, 2026. The increase was mainly attributable to $500 million of 6.219 percent fixed-to-floating rate subordinated notes issued in May 2026 due June 1, 2036, partially offset by the full early redemption of our $300 million of 3.00 percent fixed-to-floating rate subordinated notes originally due June 15, 2031, as well as normal repayments of maturing FHLB advances. No gain or loss was recognized on the early redemption of the subordinated notes during the second quarter 2026.

Credit Quality

Non-Performing Assets (NPAs). NPAs, consisting of non-accrual loans, other real estate owned (OREO) and other repossessed assets, increased $28.2 million to $467.8 million at June 30, 2026 from March 31, 2026. Non-accrual loans increased $30.0 million to $462.6 million, or 0.88 percent of total loans, at June 30, 2026 as compared to $432.6 million, or 0.85 percent of total loans, at March 31, 2026. The increase was mainly attributable to three CRE loans that migrated from the 30 to 59 days past due delinquency category at March 31, 2026 to non-accrual loans during the second quarter of 2026. These three collateral dependent non-accrual CRE loans totaled $49.6 million, net of partial charge-offs of $1.3 million during the second quarter 2026, and had no related allocated reserves within our allowance for credit losses for loans at June 30, 2026.

Accruing Past Due Loans. Total accruing past due loans (i.e., loans past due 30 days or more and still accruing interest) increased $52.3 million to $180.2 million, or 0.34 percent of total loans, at June 30, 2026 as compared to $127.9 million, or 0.25 percent of total loans, at March 31, 2026.

Loans 30 to 59 days past due increased $42.6 million to $151.0 million at June 30, 2026 as compared to March 31, 2026 mainly due to a few larger CRE loans, partially offset by the migration of the aforementioned CRE loans to non-accrual loans during the second quarter 2026. Loans 60 to 89 days past due increased $4.3 million to $13.1 million at June 30, 2026 as compared to March 31, 2026 mainly due to moderate increases in the residential mortgage and C&I loan categories. Loans 90 days or more past due and still accruing interest increased $5.4 million to $16.1 million at June 30, 2026 as compared to March 31, 2026 primarily due to the second quarter 2026 migration of a $5.5 million CRE loan previously reported in the 30 to 59 days past due delinquency category at March 31, 2026. All loans 90 days or more past due and still accruing interest are well-secured and in the process of collection.

Allowance for Credit Losses for Loans and Unfunded Commitments. The following table summarizes the allocation of the allowance for credit losses to loan categories and the allocation as a percentage of each loan category at June 30, 2026, March 31, 2026, and June 30, 2025:

  June 30, 2026 March 31, 2026 June 30, 2025    Allocation   Allocation   Allocation    as a % of   as a % of   as a % of  Allowance Loan Allowance Loan Allowance Loan Allocation Category Allocation Category Allocation Category ($ in thousands)Loan Category:           Commercial and industrial loans$198,910 1.66% $186,143 1.68% $173,415 1.60%Commercial real estate loans:            Commercial real estate 268,445 0.96   269,847 0.99   270,937 1.04  Construction 50,623 2.05   54,946 2.21   64,042 2.24 Total commercial real estate loans 319,068 1.05   324,793 1.09   334,979 1.16 Residential mortgage loans 48,905 0.82   51,700 0.88   48,830 0.86 Consumer loans:            Home equity 4,333 0.59   4,120 0.59   3,689 0.58  Auto and other consumer 19,384 0.56   17,744 0.52   18,587 0.55 Total consumer loans 23,717 0.57   21,864 0.53   22,276 0.56 Allowance for loan losses 590,600 1.13   584,500 1.15   579,500 1.17 Allowance for unfunded credit commitments 16,320    15,300    14,520  Total allowance for credit losses for loans$606,920   $599,800   $594,020  Allowance for credit losses for loans as a % of total loans  1.16%   1.18%   1.20%
Our loan portfolio, totaling $52.5 billion at June 30, 2026, had net loan charge-offs totaling $22.0 million for the second quarter 2026 as compared to $17.5 million and $37.8 million for the first quarter 2026 and the second quarter 2025, respectively. Gross loan charge-offs totaled $27.6 million for the second quarter 2026 and were largely due to partial charge-offs of non-performing CRE and C&I loans.

The allowance for credit losses for loans, comprised of our allowance for loan losses and unfunded credit commitments, as a percentage of total loans was 1.16 percent at June 30, 2026, 1.18 percent at March 31, 2026, and 1.20 percent at June 30, 2025. For the second quarter 2026, the provision for credit losses for loans totaled $29.2 million as compared to $21.2 million and $37.8 million for the first quarter 2026 and second quarter 2025, respectively. The second quarter 2026 provision was mainly impacted by (i) higher specific reserves associated with collateral dependent loans, (ii) an increase in the economic forecast component of our reserve and (iii) strong commercial loan growth, partially offset by a decline in quantitative reserves largely within certain CRE loan categories at June 30, 2026.

Capital Adequacy

Valley's total risk-based capital, Tier 1 capital, common equity tier 1 capital, and Tier 1 leverage capital ratios were 13.77 percent, 11.37 percent, 10.71 percent and 9.49 percent, respectively, at June 30, 2026 as compared to 13.66 percent, 11.60 percent, 10.91 percent and 9.56 percent, respectively, at March 31, 2026. During the second quarter 2026, we repurchased 1.5 million shares of our common stock at an average price of $13.40 under our current stock repurchase plan.

Investor Conference Call

Valley’s CEO, Ira Robbins, will host a conference call on Thursday, July 23, 2026 at 8:30 AM (ET) to discuss Valley’s second quarter 2026 earnings and related matters. Interested parties should pre-register using this link: https://register-conf.media-server.com/register to receive the dial-in number and a personal PIN, which are required to access the conference call. The teleconference will also be webcast live: https://edge.media-server.com/ and archived on Valley’s website through Monday, August 24, 2026. Investor presentation materials will be made available prior to the conference call at www.valley.com.

About Valley

As the principal subsidiary of Valley National Bancorp (NASDAQ: VLY), Valley National Bank is a regional financial institution with over $66 billion in assets. Founded in 1927, Valley has more than 220 branch locations and commercial offices nationwide and serves clients across New Jersey, New York, Florida, Alabama, California, Illinois, Pennsylvania and Arizona. Valley delivers a full range of consumer, commercial, and wealth management solutions designed to support everything from homeownership and business growth to long-term financial planning. Big enough to support complex financial needs and small enough to stay deeply connected, Valley is grounded in a relationship-led approach focused on understanding people first. That same relationship-led approach guides Valley’s commitment to community investment and responsible corporate citizenship. To learn more, visit www.valley.com or call the Valley Customer Care Center at 800-522-4100.

Forward-Looking Statements

The foregoing contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management’s confidence and strategies and management’s expectations about our business, new and existing programs and products, acquisitions, relationships, opportunities, taxation, technology, market conditions and economic expectations. These statements may be identified by forward-looking terminology such as “intend,” “should,” “expect,” “believe,” “position,” “view,” “opportunity,” “allow,” “continues,” “reflects,” “would,” “could,” “typically,” “usually,” “anticipate,” “may,” “estimate,” “outlook,” “project” or similar statements or variations of such terms. Such forward-looking statements involve certain risks and uncertainties. Actual results may differ materially from such forward-looking statements. Factors that may cause actual results to differ materially from those contemplated in these forward-looking statements include, but are not limited to:

the impact of market interest rates and monetary and fiscal policies of the U.S. federal government and its agencies in connection with prolonged inflationary pressures, which could have a material adverse effect on our clients, our business, our employees, and our ability to provide services to our customers;the impact of unfavorable macroeconomic conditions or downturns, including instability or volatility in financial markets resulting from the impact of tariffs/import fees and other trade policies and practices, any retaliatory actions, changes in energy commodity prices, related market uncertainty, or other factors; U.S. government debt default or rating downgrade; unanticipated loan delinquencies; loss of collateral; decreased service revenues; increased business disruptions or failures; reductions in employment; and other potential negative effects on our business, employees or clients caused by factors outside of our control, such as new legislation and policy changes under the current U.S. presidential administration, any shutdown of the U.S federal government, geopolitical instabilities or events, including ongoing conflicts in the Middle East, natural and other disasters, including severe weather events and other climate-related risks, health emergencies, acts of terrorism, or other external events;the impact of any potential instability within the U.S. financial sector or future bank failures, including the possibility of a run on deposits by a coordinated deposit base, and the impact of any actual or perceived concerns regarding the soundness, or creditworthiness, of other financial institutions, including any resulting disruption within the financial markets, increased expenses, including FDIC insurance assessments, or adverse impact on our stock price, deposits or our ability to borrow or raise capital;the impact of negative public opinion regarding Valley or banks in general that damages our reputation and adversely impacts business and revenues;changes in the statutes, regulations, policies, enforcement priorities, or composition of the federal bank regulatory agencies;the loss of or decrease in lower-cost funding sources within our deposit base;investigations, damage verdicts, settlements or restrictions related to existing or potential class action litigation or individual litigation arising from claims of violations of laws or regulations, contractual claims, breach of fiduciary responsibility, negligence, fraud, environmental laws, patent, trademark or other intellectual property infringement, misappropriation or other violation, employment-related claims, and other matters;a prolonged downturn and contraction in the economy, as well as any decline in commercial real estate values collateralizing a significant portion of our loan portfolio;higher or lower than expected income tax expense or tax rates, including increases or decreases resulting from changes in uncertain tax position liabilities, tax laws, regulations, and case law;the inability to grow customer deposits to keep pace with the level of loan growth;a material change in our allowance for credit losses due to forecasted economic conditions and/or unexpected credit deterioration in our loan and investment portfolios;the need to supplement debt or equity capital to maintain or exceed internal capital thresholds;changes in our business, strategy, market conditions or other factors that may negatively impact the estimated fair value of our goodwill and other intangible assets and result in future impairment charges;greater than expected technology-related costs due to, among other factors, prolonged or failed implementations, additional project staffing and obsolescence caused by continuous and rapid market innovations;increased competitive challenges and competitive pressure on pricing of our products and services;our ability to stay current with rapid technological changes and evolving legal and regulatory requirements in the financial services industry, including developments relating to the use of artificial intelligence, blockchain, and related regulatory developments, as well as our ability to effectively assess and monitor the effects of, and risks associated with, the implementation and use of such technology;cyberattacks, ransomware attacks, computer viruses, malware or other cybersecurity incidents that may breach the security of our or our third-party service providers’ websites or other systems or networks to obtain unauthorized access to personal, confidential, proprietary or sensitive information, destroy data, disable or degrade service, or sabotage our systems or networks, and the increasing sophistication of such attacks and use of targeted tactics against the financial services industry;any disruption of our systems and network, or those of our third-party service providers, resulting from events that are wholly or partially beyond our control, including, for example, electrical, telecommunications, or other major service outages, or actions by employees, which may give rise to financial loss or liability;results of examinations by the Office of the Comptroller of the Currency (OCC), the Federal Reserve Bank, the Consumer Financial Protection Bureau and other regulatory authorities, including the possibility that any such regulatory authority may, among other things, require us to increase our allowance for credit losses, write-down assets, reimburse customers, change the way we do business, or limit or eliminate certain other banking activities;application of heightened regulatory standards for certain large insured national banks, and the expenses we will incur to develop policies, programs, and systems that comply with the enhanced standards applicable to us;our inability or determination not to pay dividends at current levels, or at all, because of inadequate earnings, regulatory restrictions or limitations, changes in our capital requirements, or a decision to increase capital by retaining more earnings;unanticipated loan delinquencies, loss of collateral, decreased service revenues, and other potential negative effects on our business caused by severe weather and other climate-related risks, pandemics or other public health crises, acts of terrorism or other external events;our ability to successfully execute our business plan and strategic initiatives; andunexpected significant declines in the loan portfolio due to the lack of economic expansion, increased competition, large prepayments, risk mitigation strategies, changes in regulatory lending guidance or other factors. A detailed discussion of factors that could affect our results is included in our SEC filings, including Item 1A. "Risk Factors" of our Annual Report on Form 10-K for the year ended December 31, 2025.

We undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in our expectations, except as required by law. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.

-Tables to Follow-

VALLEY NATIONAL BANCORP
CONSOLIDATED FINANCIAL HIGHLIGHTS

SELECTED FINANCIAL DATA

 Three Months Ended Six Months Ended June 30, March 31, June 30, June 30,($ in thousands, except for share data and stock price) 2026   2026   2025   2026   2025 FINANCIAL DATA:         Net interest income - FTE(1)$488,388  $472,801  $433,675  $961,189  $855,052 Net interest income 487,024   471,525   432,408   958,549   852,513 Non-interest income 73,711   68,836   62,604   142,547   120,898 Total revenue 560,735   540,361   495,012   1,101,096   973,411 Non-interest expense 311,123   309,926   284,122   621,049   560,740 Pre-provision net revenue 249,612   230,435   210,890   480,047   412,671 Provision for credit losses 29,164   21,256   37,799   50,420   100,460 Income tax expense 49,563   45,266   39,924   94,829   72,986 Net income 170,885   163,913   133,167   334,798   239,225 Dividends on preferred stock 7,316   7,217   6,948   14,533   13,903 Net income available to common shareholders$163,569  $156,696  $126,219  $320,265  $225,322 Weighted average number of common shares outstanding:         Basic 553,740,562   555,777,748   560,336,610   554,753,527   559,976,939 Diluted 556,958,049   559,254,972   562,312,330   557,968,183   563,431,390 Per common share data:         Basic earnings$0.30  $0.28  $0.23  $0.58  $0.40 Diluted earnings 0.29   0.28   0.22   0.57   0.40 Cash dividends declared 0.11   0.11   0.11   0.22   0.22 Closing stock price - high 14.78   13.71   9.20   14.78   10.42 Closing stock price - low 12.42   11.66   7.87   11.66   7.87 FINANCIAL RATIOS:         Net interest margin 3.19%  3.16%  3.01%  3.17%  2.98%Net interest margin - FTE(1) 3.20   3.17   3.01   3.18   2.99 Annualized return on average assets 1.04   1.02   0.86   1.03   0.77 Annualized return on average shareholders' equity 8.65   8.35   7.08   8.50   6.39 NON-GAAP FINANCIAL DATA AND RATIOS:(2)         Basic earnings per share, as adjusted$0.30  $0.29  $0.23  $0.59  $0.40 Diluted earnings per share, as adjusted 0.30   0.29   0.23   0.59   0.40 Annualized return on average assets, as adjusted 1.05%  1.05%  0.87%  1.05%  0.78%Annualized return on average shareholders' equity, as adjusted 8.75   8.60   7.15   8.67   6.42 Annualized return on average tangible common shareholders' equity 11.91   11.56   10.02   11.74   9.07 Annualized return on average tangible common shareholders' equity, as adjusted 12.05   11.92   10.12   11.98   9.12 Efficiency ratio 52.11   53.10   55.20   52.60   55.53           AVERAGE BALANCE SHEET ITEMS:         Assets$65,584,823  $64,190,084  $62,106,945  $64,891,306  $61,806,614 Interest earning assets 61,057,362   59,718,887   57,553,624   60,391,821   57,224,486 Loans 51,884,173   50,265,383   49,032,637   51,079,250   48,844,823 Interest bearing liabilities 44,160,202   43,352,140   41,913,735   43,758,403   41,574,732 Deposits 53,174,301   52,373,174   49,907,124   52,775,949   49,525,957 Shareholders' equity 7,901,688   7,855,550   7,524,231   7,878,746   7,491,395   As ofBALANCE SHEET ITEMS:June 30, March 31, December 31, September 30, June 30,(In thousands) 2026   2026   2025   2025   2025 Assets$66,318,308  $64,466,585  $64,132,725  $63,018,614  $62,705,358 Total loans 52,467,251   50,828,820   50,136,728   49,272,823   49,391,420 Deposits 54,118,607   52,859,621   52,183,093   51,175,758   50,725,284 Shareholders' equity 7,917,144   7,828,443   7,807,698   7,695,374   7,575,421           LOANS:         (In thousands)         Commercial and industrial$11,961,242  $11,104,079  $10,961,519  $10,757,857  $10,870,036 Commercial real estate:         Non-owner occupied 11,146,663   11,503,874   11,571,127   11,674,103   11,747,491 Multifamily 9,034,186   8,588,462   8,571,713   8,394,694   8,434,173 Owner occupied 7,692,877   7,132,254   6,629,909   6,097,319   5,789,397 Construction 2,475,109   2,485,387   2,471,233   2,517,258   2,854,859 Total commercial real estate 30,348,835   29,709,977   29,243,982   28,683,374   28,825,920 Residential mortgage 5,982,941   5,869,070   5,826,192   5,795,395   5,709,971 Consumer:         Home equity 728,623   701,136   687,680   655,872   634,553 Automobile 2,150,089   2,198,102   2,184,600   2,191,976   2,178,841 Other consumer 1,295,521   1,246,456   1,232,755   1,188,349   1,172,099 Total consumer loans 4,174,233   4,145,694   4,105,035   4,036,197   3,985,493 Total loans$52,467,251  $50,828,820  $50,136,728  $49,272,823  $49,391,420           CAPITAL RATIOS:         Book value per common share$13.67  $13.48  $13.39  $13.09  $12.89 Tangible book value per common share(2) 10.13   9.94   9.85   9.57   9.35 Tangible common equity to tangible assets(2) 8.71%  8.82%  8.82%  8.79%  8.63%Tier 1 leverage capital 9.49   9.56   9.63   9.52   9.49 Common equity tier 1 capital 10.71   10.91   10.99   11.00   10.85 Tier 1 risk-based capital 11.37   11.60   11.69   11.72   11.57 Total risk-based capital 13.77   13.66   13.77   13.83   13.67   Three Months Ended Six Months EndedALLOWANCE FOR CREDIT LOSSES:June 30, March 31, June 30, June 30,($ in thousands) 2026   2026   2025   2026   2025 Allowance for credit losses for loans         Beginning balance - Allowance for credit losses for loans$599,800  $596,100  $594,054  $596,100  $573,328 Loans charged-off:         Commercial and industrial (9,838)  (2,782)  (25,189)  (12,620)  (53,645)Commercial real estate (14,434)  (13,756)  (14,623)  (28,190)  (26,883)Construction —   —   —   —   (1,163)Residential mortgage —   —   (46)  —   (46)Total consumer (3,354)  (3,263)  (2,213)  (6,617)  (4,353)Total loans charged-off (27,626)  (19,801)  (42,071)  (47,427)  (86,090)Charged-off loans recovered:         Commercial and industrial 1,669   1,398   2,789   3,067   3,599 Commercial real estate 2,790   347   188   3,137   437 Construction —   —   455   —   455 Residential mortgage 41   83   37   124   205 Total consumer 1,080   429   773   1,509   1,616 Total loans recovered 5,580   2,257   4,242   7,837   6,312 Total net charge-offs (22,046)  (17,544)  (37,829)  (39,590)  (79,778)Provision for credit losses for loans 29,166   21,244   37,795   50,410   100,470 Ending balance$606,920  $599,800  $594,020  $606,920  $594,020 Components of allowance for credit losses for loans:         Allowance for loan losses$590,600  $584,500  $579,500  $590,600  $579,500 Allowance for unfunded credit commitments 16,320   15,300   14,520   16,320   14,520 Allowance for credit losses for loans$606,920  $599,800  $594,020  $606,920  $594,020 Components of provision for credit losses for loans:         Provision for credit losses for loans$28,146  $18,644  $39,129  $46,790  $100,428 Provision (credit) for unfunded credit commitments 1,020   2,600   (1,334)  3,620   42 Total provision for credit losses for loans$29,166  $21,244  $37,795  $50,410  $100,470 Annualized ratio of total net charge-offs to total average loans 0.17%  0.14%  0.31%  0.16%  0.33%Allowance for credit losses for loans as a % of total loans 1.16%  1.18%  1.20%  1.16%  1.20%  As ofASSET QUALITY:June 30, March 31, December 31, September 30, June 30,($ in thousands) 2026   2026   2025   2025   2025 Accruing past due loans:         30 to 59 days past due:         Commercial and industrial$5,083  $5,285  $11,177  $912  $10,451 Commercial real estate 106,034   69,494   72,810   26,371   42,884 Construction 1,752   —   —   —   35,000 Residential mortgage 22,154   20,534   21,615   23,556   21,744 Total consumer 15,974   13,112   14,420   12,728   12,878 Total 30 to 59 days past due 150,997   108,425   120,022   63,567   122,957 60 to 89 days past due:         Commercial and industrial 2,748   1,015   1,274   1,061   1,095 Commercial real estate —   —   —   6,033   60,601 Residential mortgage 6,495   4,285   10,181   5,040   7,627 Total consumer 3,904   3,506   5,269   4,023   4,001 Total 60 to 89 days past due 13,147   8,806   16,724   16,157   73,324 90 or more days past due:         Commercial and industrial 3,527   3,499   —   —   — Commercial real estate 5,454   —   212   —   — Residential mortgage 5,223   5,894   3,300   3,911   2,062 Total consumer 1,862   1,309   1,070   1,125   859 Total 90 or more days past due 16,066   10,702   4,582   5,036   2,921 Total accruing past due loans$180,210  $127,933  $141,328  $84,760  $199,202 Non-accrual loans:         Commercial and industrial$147,731  $145,804  $138,321  $92,214  $90,973 Commercial real estate 256,081   225,417   236,221   235,754   193,604 Construction 9,139   9,148   9,140   48,248   24,068 Residential mortgage 42,992   45,988   44,424   38,949   41,099 Total consumer 6,686   6,289   5,832   6,324   4,615 Total non-accrual loans 462,629   432,646   433,938   421,489   354,359 Other real estate owned (OREO) 4,126   5,161   4,531   4,783   4,783 Other repossessed assets 1,020   1,758   1,286   1,065   1,642 Total non-performing assets$467,775  $439,565  $439,755  $427,337  $360,784 Total non-accrual loans as a % of loans 0.88%  0.85%  0.87%  0.86%  0.72%Total accruing past due and non-accrual loans as a % of loans 1.23%  1.10%  1.15%  1.03%  1.12%Allowance for losses on loans as a % of non-accrual loans 127.66%  135.10%  134.44%  138.79%  163.53%
NOTES TO SELECTED FINANCIAL DATA

(1)Net interest income and net interest margin are presented on a tax equivalent basis using a 21 percent federal tax rate. Valley believes that this presentation provides comparability of net interest income and net interest margin arising from both taxable and tax-exempt sources and is consistent with industry practice and SEC rules.(2)Non-GAAP Reconciliations. This press release contains certain supplemental financial information, described in the Notes below, which has been determined by methods other than U.S. Generally Accepted Accounting Principles ("GAAP") that management uses in its analysis of Valley's performance. The Company believes that the non-GAAP financial measures provide useful supplemental information to both management and investors in understanding Valley’s underlying operational performance, business and performance trends, and may facilitate comparisons of our current and prior performance with the performance of others in the financial services industry. Management utilizes these measures for internal planning, forecasting and analysis purposes. Management believes that Valley’s presentation and discussion of this supplemental information, together with the accompanying reconciliations to the GAAP financial measures, also allows investors to view performance in a manner similar to management. These non-GAAP financial measures should not be considered in isolation or as a substitute for or superior to financial measures calculated in accordance with U.S. GAAP. These non-GAAP financial measures may also be calculated differently from similar measures disclosed by other companies. Non-GAAP Reconciliations to GAAP Financial Measures

 Three Months Ended Six Months Ended June 30, March 31, June 30, June 30,($ in thousands, except for share data) 2026   2026   2025   2026   2025 Adjusted net income available to common shareholders (non-GAAP):         Net income, as reported (GAAP)$170,885  $163,913  $133,167  $334,798  $239,225 Add: Restructuring charge(a) 2,513   5,689   800   8,202   800 Add: Litigation reserve(b) 230   1,262   —   1,492   — Add: Losses on available for sale and held to maturity debt securities, net(c) —   10   —   10   11 Add: Loss on extinguishment of debt —   —   922   —   922 Total non-GAAP adjustments to net income 2,743   6,961   1,722   9,704   1,733 Income tax adjustments related to non-GAAP adjustments(d) (782)  (1,984)  (474)  (2,766)  (477)Net income, as adjusted (non-GAAP)$172,846  $168,890  $134,415  $341,736  $240,481 Dividends on preferred stock 7,316   7,217   6,948   14,533   13,903 Net income available to common shareholders, as adjusted (non-GAAP)$165,530  $161,673  $127,467  $327,203  $226,578 __________         (a) Represents severance expense related to workforce reductions within salary and employee benefits expense.(b) Represents the change in legal reserves and settlement charges included in professional and legal fees.(c) Included in gains (losses) on securities transactions, net.(d) Calculated using the appropriate blended statutory tax rate for the applicable period. Adjusted per common share data (non-GAAP):         Net income available to common shareholders, as adjusted (non-GAAP)$165,530  $161,673  $127,467  $327,203  $226,578 Weighted average number of shares outstanding 553,740,562   555,777,748   560,336,610   554,753,527   559,976,939 Basic earnings, as adjusted (non-GAAP)$0.30  $0.29  $0.23  $0.59  $0.40 Weighted average number of diluted shares outstanding 556,958,049   559,254,972   562,312,330   557,968,183   563,431,390 Diluted earnings, as adjusted (non-GAAP)$0.30  $0.29  $0.23  $0.59  $0.40 Adjusted annualized return on average tangible common shareholder's equity (non-GAAP):         Net income available to common shareholders, as adjusted (non-GAAP)$165,530  $161,673  $127,467  $327,203  $226,578 Add: Amortization of other intangible assets (net of tax), other than loan servicing rights 4,247   4,746   5,120   8,993   10,739 Net income available to common shareholders excluding intangible amortization, as adjusted (non-GAAP) 169,777   166,419   132,587   336,196   237,317 Average shareholders' equity 7,901,688   7,855,550   7,524,231   7,878,746   7,491,395 Less: Average preferred shareholders equity 354,345   354,345   354,345   354,345   354,345 Less: Average goodwill (net of deferred tax liability) 1,858,851   1,858,851   1,859,614   1,858,851   1,859,614 Less: Average intangible assets (net of deferred tax liability), other than loan servicing rights 51,387   57,080   69,367   54,218   72,748 Average tangible common shareholders' equity$5,637,105  $5,585,274  $5,240,905  $5,611,332  $5,204,688 Annualized return on average tangible common shareholders' equity, as adjusted (non-GAAP) 12.05%  11.92%  10.12%  11.98%  9.12% Non-GAAP Reconciliations to GAAP Financial Measures (Continued)

 Three Months Ended Six Months Ended June 30, March 31, June 30, June 30,($ in thousands, except for share data) 2026   2026   2025   2026   2025 Adjusted annualized return on average assets (non-GAAP):         Net income, as adjusted (non-GAAP)$172,846  $168,890  $134,415  $341,736  $240,481 Average assets$65,584,823  $64,190,084  $62,106,945  $64,891,306  $61,806,614 Annualized return on average assets, as adjusted (non-GAAP) 1.05%  1.05%  0.87%  1.05%  0.78%Adjusted annualized return on average shareholders' equity (non-GAAP):         Net income, as adjusted (non-GAAP)$172,846  $168,890  $134,415  $341,736  $240,481 Average shareholders' equity$7,901,688  $7,855,550  $7,524,231  $7,878,746  $7,491,395 Annualized return on average shareholders' equity, as adjusted (non-GAAP) 8.75%  8.60%  7.15%  8.67%  6.42%Annualized return on average tangible common shareholders' equity (non-GAAP):         Net income available to common shareholders$163,569  $156,696  $126,219  $320,265  $225,322 Add: Amortization of other intangible assets (net of tax), other than loan servicing rights 4,247   4,746   5,120   8,993   10,739 Net income available to common shareholders excluding intangible amortization (non-GAAP) 167,816   161,442   131,339   329,258   236,061 Average tangible common shareholders' equity (non-GAAP)$5,637,105  $5,585,274  $5,240,905  $5,611,332  $5,204,688 Annualized return on average tangible common shareholders' equity (non-GAAP) 11.91%  11.56%  10.02%  11.74%  9.07%          Efficiency ratio (non-GAAP):         Non-interest expense, as reported (GAAP)$311,123  $309,926  $284,122  $621,049  $560,740 Less: Restructuring charge (pre-tax) 2,513   5,689   800   8,202   800 Less: Amortization of tax credit investments (pre-tax) 16,157   16,014   9,134   32,171   18,454 Less: Litigation reserve (pre-tax) 230   1,262   —   1,492   — Less: Loss on extinguishment of debt (pre-tax) —   —   922   —   922 Non-interest expense, as adjusted (non-GAAP)$292,223  $286,961  $273,266  $579,184  $540,564 Net interest income, as reported (GAAP) 487,024   471,525   432,408   958,549   852,513 Non-interest income, as reported (GAAP) 73,711   68,836   62,604   142,547   120,898 Add: Losses on available for sale and held to maturity securities transactions, net (pre-tax) —   10   —   10   11 Gross operating income, as adjusted (non-GAAP)$560,735  $540,371  $495,012  $1,101,106  $973,422 Efficiency ratio (non-GAAP) 52.11%  53.10%  55.20%  52.60%  55.53%  As of June 30, March 31, December 31, September 30, June 30,($ in thousands, except for share data) 2026   2026   2025   2025   2025 Tangible book value per common share (non-GAAP):         Common shares outstanding 553,069,100   554,316,876   556,618,021   560,784,352   560,281,821 Shareholders' equity (GAAP)$7,917,144  $7,828,443  $7,807,698  $7,695,374  $7,575,421 Less: Preferred stock 354,345   354,345   354,345   354,345   354,345 Less: Goodwill and other intangible assets 1,958,135   1,963,706   1,969,811   1,976,594   1,983,515 Tangible common shareholders' equity (non-GAAP)$5,604,664  $5,510,392  $5,483,542  $5,364,435  $5,237,561 Tangible book value per common share (non-GAAP)$10.13  $9.94  $9.85  $9.57  $9.35 Tangible common equity to tangible assets (non-GAAP):         Tangible common shareholders' equity (non-GAAP)$5,604,664  $5,510,392  $5,483,542  $5,364,435  $5,237,561 Total assets (GAAP) 66,318,308   64,466,585   64,132,725   63,018,614   62,705,358 Less: Goodwill and other intangible assets 1,958,135   1,963,706   1,969,811   1,976,594   1,983,515 Tangible assets (non-GAAP)$64,360,173  $62,502,879  $62,162,914  $61,042,020  $60,721,843 Tangible common equity to tangible assets (non-GAAP) 8.71%  8.82%  8.82%  8.79%  8.63%           VALLEY NATIONAL BANCORP
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(in thousands, except for share data)    June 30, December 31,  2026   2025  (Unaudited)  Assets   Cash and due from banks$388,741  $315,166 Interest bearing deposits with banks 578,148   1,268,399 Investment securities:   Equity securities 88,541   82,774 Trading debt securities 26,493   — Available for sale debt securities 4,292,148   4,202,218 Held to maturity debt securities (net of allowance for credit losses of $744 at June 30, 2026 and $734 at December 31, 2025) 3,757,200   3,495,837 Total investment securities 8,164,382   7,780,829 Loans held for sale (includes fair value of $4,940 at June 30, 2026 and $8,212 at December 31, 2025 for loans originated for sale) 13,690   26,236 Loans 52,467,251   50,136,728 Less: Allowance for loan losses (590,600)  (583,400)Net loans 51,876,651   49,553,328 Premises and equipment, net 316,364   330,757 Lease right of use assets 298,807   313,891 Bank owned life insurance 742,230   738,090 Accrued interest receivable 250,703   243,897 Goodwill 1,868,936   1,868,936 Other intangible assets, net 89,199   100,875 Other assets 1,730,457   1,592,321 Total Assets$66,318,308  $64,132,725 Liabilities   Deposits:   Non-interest bearing$12,549,527  $12,155,500 Interest bearing:   Savings, NOW and money market 28,666,443   28,603,470 Time 12,902,637   11,424,123 Total deposits 54,118,607   52,183,093 Short-term borrowings 433,484   91,475 Long-term borrowings 2,607,222   2,908,579 Junior subordinated debentures issued to capital trusts 57,977   57,803 Lease liabilities 355,482   372,448 Accrued expenses and other liabilities 828,392   711,629 Total Liabilities 58,401,164   56,325,027 Shareholders’ Equity   Preferred stock, no par value; 50,000,000 authorized shares:   Series A (4,600,000 shares issued at June 30, 2026 and December 31, 2025) 111,590   111,590 Series B (4,000,000 shares issued at June 30, 2026 and December 31, 2025) 98,101   98,101 Series C (6,000,000 shares issued at June 30, 2026 and December 31, 2025) 144,654   144,654 Common stock (no par value, authorized 650,000,000 shares; issued 560,878,750 shares at June 30, 2026 and December 31, 2025) 196,730   196,730 Surplus 5,458,768   5,464,845 Retained earnings 2,103,922   1,912,933 Accumulated other comprehensive loss (99,617)  (74,379)Treasury stock, at cost (7,809,650 common shares at June 30, 2026 and 4,260,729 common shares at December 31, 2025) (97,004)  (46,776)Total Shareholders’ Equity 7,917,144   7,807,698 Total Liabilities and Shareholders’ Equity$66,318,308  $64,132,725  VALLEY NATIONAL BANCORP
CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
(in thousands, except for share data)
 Three Months Ended Six Months Ended June 30, March 31, June 30, June 30,  2026   2026  2025   2026  2025 Interest Income         Interest and fees on loans$736,060  $708,640 $720,282  $1,444,700 $1,423,891 Interest and dividends on investment securities:         Taxable 76,113   73,808  67,164   149,921  131,062 Tax-exempt 5,048   4,718  4,681   9,766  9,383 Dividends 5,771   4,800  5,528   10,571  11,192 Interest on federal funds sold and other short-term investments 6,383   10,758  7,357   17,141  14,236 Total interest income 829,375   802,724  805,012   1,632,099  1,589,764 Interest Expense         Interest on deposits:         Savings, NOW and money market 190,973   190,785  203,390   381,758  403,611 Time 112,693   106,678  129,324   219,371  254,393 Interest on short-term borrowings 6,047   236  1,736   6,283  4,682 Interest on long-term borrowings and junior subordinated debentures 32,638   33,500  38,154   66,138  74,565 Total interest expense 342,351   331,199  372,604   673,550  737,251 Net Interest Income 487,024   471,525  432,408   958,549  852,513 (Credit) provision for credit losses for available for sale and held to maturity securities (2)  12  4   10  (10)Provision for credit losses for loans 29,166   21,244  37,795   50,410  100,470 Net Interest Income After Provision for Credit Losses 457,860   450,269  394,609   908,129  752,053 Non-Interest Income         Wealth management and trust fees 17,655   16,006  14,056   33,661  29,087 Insurance commissions 3,770   2,867  3,430   6,637  6,832 Capital markets 12,933   10,381  9,767   23,314  16,707 Service charges on deposit accounts 18,728   18,204  14,705   36,932  27,431 Gains (losses) on securities transactions, net 50   21  (1)  71  45 Fees from loan servicing 3,268   3,218  3,671   6,486  6,886 Gains on sales of loans, net 1,742   3,090  2,025   4,832  4,222 Bank owned life insurance 5,913   5,835  6,019   11,748  10,796 Other 9,652   9,214  8,932   18,866  18,892 Total non-interest income 73,711   68,836  62,604   142,547  120,898 Non-Interest Expense         Salary and employee benefits expense 150,432   155,715  145,422   306,147  288,040 Net occupancy expense 27,179   27,182  25,483   54,361  51,371 Technology, furniture and equipment expense 33,247   31,878  30,667   65,125  60,563 FDIC insurance assessment 11,691   10,476  12,192   22,167  25,059 Amortization of other intangible assets 6,268   6,919  7,427   13,187  15,446 Professional and legal fees 29,533   25,142  19,970   54,675  35,640 Loss on extinguishment of debt —   —  922   —  922 Amortization of tax credit investments 16,157   16,014  9,134   32,171  18,454 Other 36,616   36,600  32,905   73,216  65,245 Total non-interest expense 311,123   309,926  284,122   621,049  560,740 Income Before Income Taxes 220,448   209,179  173,091   429,627  312,211 Income tax expense 49,563   45,266  39,924   94,829  72,986 Net Income 170,885   163,913  133,167   334,798  239,225 Dividends on preferred stock 7,316   7,217  6,948   14,533  13,903 Net Income Available to Common Shareholders$163,569  $156,696 $126,219  $320,265 $225,322  VALLEY NATIONAL BANCORP
Quarterly Analysis of Average Assets, Liabilities and Shareholders' Equity and
Net Interest Income on a Tax Equivalent Basis
 Three Months Ended June 30, 2026 March 31, 2026 June 30, 2025 Average   Avg. Average   Avg. Average   Avg.($ in thousands)Balance Interest Rate Balance Interest Rate Balance Interest RateAssets                 Interest earning assets:               Loans(1)(2)$51,884,173 $736,082  5.67% $50,265,383 $708,662  5.64% $49,032,637 $720,305  5.88%Taxable investments(3) 7,928,555  81,884  4.13   7,732,330  78,608  4.07   7,350,792  72,692  3.96 Tax-exempt investments(1)(3) 544,950  6,390  4.69   542,177  5,972  4.41   544,302  5,925  4.35 Interest bearing deposits with banks 699,684  6,383  3.65   1,178,997  10,758  3.65   625,893  7,357  4.70 Total interest earning assets 61,057,362  830,739  5.44   59,718,887  804,000  5.39   57,553,624  806,279  5.60 Other assets 4,527,461      4,471,197      4,553,321    Total assets$65,584,823     $64,190,084     $62,106,945    Liabilities and shareholders' equity                 Interest bearing liabilities:                 Savings, NOW and money market deposits$28,920,057 $190,973  2.64% $29,203,978 $190,785  2.61% $26,451,349 $203,390  3.08%Time deposits 11,881,270  112,693  3.79   11,226,874  106,678  3.80   12,119,461  129,324  4.27 Short-term borrowings 674,094  6,047  3.59   71,809  236  1.31   196,491  1,736  3.53 Long-term borrowings(4) 2,684,781  32,638  4.86   2,849,479  33,500  4.70   3,146,434  38,154  4.85 Total interest bearing liabilities 44,160,202  342,351  3.10   43,352,140  331,199  3.06   41,913,735  372,604  3.56 Non-interest bearing deposits 12,372,974      11,942,322      11,336,314    Other liabilities 1,149,959      1,040,072      1,332,665    Shareholders' equity 7,901,688      7,855,550      7,524,231    Total liabilities and shareholders' equity$65,584,823     $64,190,084     $62,106,945                      Net interest income/interest rate spread(5)  $488,388  2.34%   $472,801  2.33%   $433,675  2.04%Tax equivalent adjustment   (1,364)      (1,276)      (1,267)  Net interest income, as reported  $487,024      $471,525      $432,408   Net interest margin(6)    3.19%     3.16%     3.01%Tax equivalent effect    0.01      0.01      0.00 Net interest margin on a fully tax equivalent basis(6)    3.20%     3.17%     3.01% _____________________

(1) Interest income is presented on a tax equivalent basis using a 21 percent federal tax rate.
(2) Loans are stated net of unearned income and include non-accrual loans.
(3) The yield for securities that are classified as available for sale is based on the average historical amortized cost.
(4) Includes junior subordinated debentures issued to capital trusts which are presented separately on the consolidated statements of financial condition.
(5) Interest rate spread represents the difference between the average yield on interest earning assets and the average cost of interest bearing liabilities and is presented on a fully tax equivalent basis.
(6) Net interest income as a percentage of total average interest earning assets.

 INVESTOR RELATIONS
Requests for copies of reports and/or other inquiries should be directed to Andrew Jianette, Investor Relations, Valley National Bancorp, 70 Speedwell Avenue, Morristown, New Jersey, 07960 by e-mail at [email protected].  Contact: Travis Lan  Senior Executive Vice President and Chief Financial Officer  973-686-5007

The market expects Valley National (VLY - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on July 23, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis holding company for Valley National Bank is expected to post quarterly earnings of $0.31 per share in its upcoming report, which represents a year-over-year change of +34.8%.

Revenues are expected to be $552.02 million, up 11.2% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.6% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Valley National?For Valley National, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that Valley National will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Valley National would post earnings of $0.27 per share when it actually produced earnings of $0.29, delivering a surprise of +7.41%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Valley National doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Barrett recognized among 50 executives in American Banker’s first-ever ranking, reflecting Valley’s continued investment in digital transformation, AI readiness, and relationship-driven innovation

MORRISTOWN, N.J.--(BUSINESS WIRE)--Valley National Bank, (“Valley” or the “Bank”), a subsidiary of Valley National Bancorp (NASDAQ: VLY), today announced that Russell Barrett, Senior Executive Vice President and Chief Operating Officer, has been named to American Banker’s 2026 Most Innovative People in Finance list.

The ranking recognizes 50 executives across financial services whose leadership and execution are redefining what is possible across banking, payments, technology, customer experience, AI, and digital financial services. Barrett was selected for his role in architecting Valley’s enterprise technology foundation and advancing an innovation strategy designed to support scalable, long-term growth.

Since joining Valley in 2021, Barrett has led several of the Bank’s most consequential technology transformations, including the complete overhaul and modern conversion of the Bank's core banking architecture. Beyond expanding treasury and deposit capabilities for customers and improving operational efficiency, that effort created a more scalable foundation for future innovation.

Barrett has also overseen Valley’s cloud-first strategy, which includes the migration of more than 80% of the Bank’s data center capacity to the cloud and the development of a centralized enterprise data hub. Under his leadership, Valley has launched more than 50 digital transformation initiatives over the past year and has advanced AI-related applications across anti-money laundering, operational quality, sales effectiveness, and employee training.

Valley’s prioritization of AI technology reflects a broader strategic view articulated by CEO Ira Robbins in his May 2026 American Banker op-ed, which emphasized that AI should be utilized as a connectivity solution rather than a threat to modern banking. This perspective aligns with Valley’s continued investment in cloud infrastructure, data capabilities, and AI readiness.

“Russ has been central to building the technology foundation that has made Valley a stronger, faster, and more efficient organization,” said Ira Robbins, CEO of Valley Bank. “His leadership reflects how we view innovation, not as a buzzword, but as a disciplined, purposeful approach focused on creating lasting value for customers, associates, partners, and shareholders. This recognition is well-deserved and reflects the ambition and quality of work across our entire organization.”

Valley’s innovation strategy also extends to client-facing solutions. The bank has partnered with startups and leveraged internal engineering capabilities to develop business capabilities across numerous verticals like commercial lending, collateral management, and client information reporting. Valley has also built an embedded finance customer integration layer and in-market products that resolve client friction points, streamline operations, and reduce costs.

“Our goal is not to pursue innovation for its own sake,” Barrett said. “At Valley, we are focused on building the infrastructure, culture, and partnerships that allow us to use technology responsibly and effectively. Our investments in cloud, data, and AI readiness are helping us move faster, make better decisions, and deliver greater value to the customers and communities we serve, and we believe this is just the beginning.”

The Bank continues to expand its broader innovation ecosystem through Valley Foundry, its dedicated fintech exploration and emerging technology team, as well as Valley Ventures, Valley’s corporate venture capital arm focused on early-and growth-stage fintech and proptech companies. These initiatives help position Valley at the forefront of emerging technologies while accelerating the delivery of innovative solutions to customers.

That commitment to innovation was further reinforced by the recent appointment of Rodrigo Suarez as Head of Partner Banking, a strategic hire focused on expanding Valley’s fintech partnerships and payment platforms and a clear signal of the Bank's intent to move deeper into this space.

Together, these efforts represent Valley’s institution-wide commitment to strengthening its technology foundation, expanding strategic partnerships, and delivering forward-thinking solutions that meet evolving customer needs.

The American Banker profile on Barrett can be viewed here.

About Valley

As the principal subsidiary of Valley National Bancorp (NASDAQ: VLY), Valley National Bank is a regional financial institution with approximately $64 billion in assets. Founded in 1927, Valley has more than 220 branch locations and commercial offices nationwide and serves clients across New Jersey, New York, Florida, Alabama, California, Illinois, Pennsylvania, and Arizona. Valley delivers a full range of consumer, commercial, and wealth management solutions designed to support everything from homeownership and business growth to long-term financial planning. Big enough to support complex financial needs and small enough to stay deeply connected, Valley is grounded in a relationship-led approach focused on understanding people first. That same relationship-led approach guides Valley’s commitment to community investment and responsible corporate citizenship. To learn more, visit www.valley.com or call our Customer Care Center at 800-522-4100.

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Algert Global LLC lowered its position in shares of Valley National Bancorp (NASDAQ: VLY) by 46.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 836,872 shares of the company's stock after selling 711,748 shares during the quarter. Algert Global LLC owned

Posted by Defense World Staff on Mar 30th, 2026

JPMorgan Chase & Co. trimmed its holdings in shares of Valley National Bancorp (NASDAQ:VLY – Free Report) by 7.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 868,747 shares of the company’s stock after selling 66,961 shares during the period. JPMorgan Chase & Co. owned approximately 0.16% of Valley National Bancorp worth $9,209,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its position in Valley National Bancorp by 77.4% during the third quarter. Smartleaf Asset Management LLC now owns 4,574 shares of the company’s stock valued at $48,000 after purchasing an additional 1,996 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Valley National Bancorp by 244.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,884 shares of the company’s stock valued at $53,000 after buying an additional 4,177 shares during the last quarter. Danske Bank A S purchased a new position in shares of Valley National Bancorp during the 3rd quarter valued at about $55,000. Vident Advisory LLC acquired a new position in shares of Valley National Bancorp in the 2nd quarter valued at about $93,000. Finally, Blueshift Asset Management LLC acquired a new position in shares of Valley National Bancorp in the 2nd quarter valued at about $96,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

Analysts Set New Price Targets Several analysts recently commented on the company. Raymond James Financial raised Valley National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $15.00 target price on the stock in a report on Friday, January 30th. Barclays upped their price objective on Valley National Bancorp from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Royal Bank Of Canada lifted their target price on shares of Valley National Bancorp from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, January 30th. UBS Group began coverage on shares of Valley National Bancorp in a research note on Monday, December 15th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Weiss Ratings raised shares of Valley National Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.64.

Read Our Latest Report on VLY

Insider Transactions at Valley National Bancorp In related news, Director Carlos J. Vazquez bought 2,500 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were acquired at an average price of $13.45 per share, for a total transaction of $33,625.00. Following the completion of the transaction, the director directly owned 4,252 shares in the company, valued at $57,189.40. This trade represents a 142.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.43% of the stock is currently owned by insiders.

Valley National Bancorp Price Performance Valley National Bancorp stock opened at $11.95 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $6.64 billion, a PE ratio of 11.83 and a beta of 1.07. The business has a 50 day simple moving average of $12.59 and a 200-day simple moving average of $11.66. Valley National Bancorp has a 12 month low of $7.48 and a 12 month high of $13.87.

Valley National Bancorp (NASDAQ:VLY – Get Free Report) last announced its earnings results on Thursday, January 29th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Valley National Bancorp had a return on equity of 7.92% and a net margin of 17.11%.The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $524.31 million. During the same quarter last year, the firm posted $0.13 EPS. The business’s revenue was up 14.1% on a year-over-year basis. On average, analysts anticipate that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, March 13th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 43.56%.

Valley National Bancorp Company Profile (Free Report)

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.

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MELBOURNE, Fla.--(BUSINESS WIRE)--Valley National Bank celebrated the grand opening of its Melbourne, Florida branch on Tuesday, March 31.

Valley National (VLY - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on April 23. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis holding company for Valley National Bank is expected to post quarterly earnings of $0.28 per share in its upcoming report, which represents a year-over-year change of +55.6%.

Revenues are expected to be $530.39 million, up 10.6% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.44% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Valley National?For Valley National, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -1.20%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that Valley National will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Valley National would post earnings of $0.29 per share when it actually produced earnings of $0.31, delivering a surprise of +6.90%.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Valley National doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Analysts on Wall Street project that Valley National (VLY - Free Report) will announce quarterly earnings of $0.28 per share in its forthcoming report, representing an increase of 55.6% year over year. Revenues are projected to reach $529.95 million, increasing 10.5% from the same quarter last year.

Over the last 30 days, there has been an upward revision of 0.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.

While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.

In light of this perspective, let's dive into the average estimates of certain Valley National metrics that are commonly tracked and forecasted by Wall Street analysts.

The collective assessment of analysts points to an estimated 'Efficiency Ratio' of 55.4%. Compared to the current estimate, the company reported 55.9% in the same quarter of the previous year.

According to the collective judgment of analysts, 'Average Balance - Total interest earning assets' should come in at $59.58 billion. The estimate is in contrast to the year-ago figure of $56.89 billion.

The consensus among analysts is that 'Total non-accrual loans' will reach $431.77 million. The estimate is in contrast to the year-ago figure of $346.45 million.

It is projected by analysts that the 'Tier 1 risk-based capital ratio' will reach 11.7%. Compared to the current estimate, the company reported 11.5% in the same quarter of the previous year.

The average prediction of analysts places 'Total Non-performing Assets' at $437.35 million. Compared to the current estimate, the company reported $356.22 million in the same quarter of the previous year.

Analysts predict that the 'Total risk-based capital ratio' will reach 13.8%. Compared to the current estimate, the company reported 13.9% in the same quarter of the previous year.

Analysts expect 'Net interest income - FTE' to come in at $462.83 million. The estimate is in contrast to the year-ago figure of $421.38 million.

The consensus estimate for 'Total non-interest Income' stands at $67.12 million. Compared to the present estimate, the company reported $58.29 million in the same quarter last year.

Based on the collective assessment of analysts, 'Insurance commissions' should arrive at $3.55 million. Compared to the current estimate, the company reported $3.40 million in the same quarter of the previous year.

Analysts' assessment points toward 'Bank owned life insurance' reaching $4.79 million. Compared to the current estimate, the company reported $4.78 million in the same quarter of the previous year.

Analysts forecast 'Wealth management and trust fees' to reach $16.75 million. Compared to the current estimate, the company reported $15.03 million in the same quarter of the previous year.

The combined assessment of analysts suggests that 'Service charges on deposit accounts' will likely reach $16.65 million. Compared to the current estimate, the company reported $12.73 million in the same quarter of the previous year.

View all Key Company Metrics for Valley National here>>>

Shares of Valley National have demonstrated returns of +9.2% over the past month compared to the Zacks S&P 500 composite's +8.6% change. With a Zacks Rank #3 (Hold), VLY is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

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Stock to Watch: Valley National (VLY - Free Report) Based in Wayne, NJ, Valley National is the holding company for Valley National Bank, which offers various commercial, retail, insurance and wealth management financial services products. Founded in 1927, Valley National conducts operations through almost 200 branch offices and commercial banking offices across New Jersey, New York, Florida, Alabama, California and Illinois.

VLY is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

Momentum investors should take note of this Finance stock. VLY has a Momentum Style Score of A, and shares are up 11.9% over the past four weeks.

Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.01 to $1.26 per share. VLY boasts an average earnings surprise of +6.6%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, VLY should be on investors' short list.

May 14, 2026 16:05 ET  | Source: Valley National Bank

NEW YORK, May 14, 2026 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY) (“Valley”), the holding company for Valley National Bank, today announced the redemption, in full, of its 3.00% Fixed-to-Floating Rate Subordinated Notes due 2031 (the “Notes”) in an aggregate principal amount of $300,000,000. The redemption date for the Notes is June 15, 2026 (the “Redemption Date”). The Notes will be redeemed at a redemption price of 100% of the principal amount plus accrued and unpaid interest to, but excluding, the Redemption Date.

In accordance with the terms of the Notes, the holders of the Notes will receive notice of the redemption and further instructions and details related to the process of such redemption. Interest on the Notes will cease to accrue on and after the Redemption Date, and no Notes will remain outstanding following the redemption.

About Valley

As the principal subsidiary of Valley National Bancorp (NASDAQ: VLY), Valley National Bank is a regional financial institution with over $64 billion in assets. Founded in 1927, Valley has more than 220 branch locations and commercial offices nationwide and serves clients across New Jersey, New York, Florida, Alabama, California, Illinois, Pennsylvania and Arizona. Valley delivers a full range of consumer, commercial, and wealth management solutions designed to support everything from homeownership and business growth to long-term financial planning. Big enough to support complex financial needs and small enough to stay deeply connected, Valley is grounded in a relationship-led approach focused on understanding people first. That same relationship-led approach guides Valley’s commitment to community investment and responsible corporate citizenship. To learn more, visit www.valley.com or call the Valley Customer Care Center at 800-522-4100.

Forward-Looking Statements

The foregoing contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management’s expectations with respect to the redemption. Such forward-looking statements involve certain risks and uncertainties. Actual outcomes may differ materially from such forward-looking statements. Factors that may cause actual outcomes to differ materially from those contemplated by such forward-looking statements are included in Valley’s filings with the Securities and Exchange Commission, including Part I, Item 1A “Risk Factors” of Valley’s Annual Report on Form 10-K for the year ended December 31, 2025. Valley undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in its expectations, except as required by law. Although Valley believes that the expectations reflected in the forward-looking statements are reasonable, future results, levels of activity, performance and achievements cannot be guaranteed.

Contact:Travis Lan
Senior Executive Vice President and
Chief Financial Officer
(973) 686-5007

MORRISTOWN, N.J.--(BUSINESS WIRE)--Valley National Bank announces the expansion of its consumer banking leadership team with the appointments of Larricia Lumpkins and Peter Illian.