Valley National Q1 net income $116.7M; loans up $1.2B; Bank Leumi USA acquisition closed Apr 1

VALLEY NATIONAL BANCORP

2022-Q1 EPS reported $0.27

Net income $116.7M ($0.27 diluted EPS); adjusted net income $120.3M ($0.28 diluted EPS).
Total loans grew $1.2B to $35.4B; non-PPP loan growth 17.1% annualized.
Net interest margin (tax-equivalent) 3.16%, down 7 bps linked quarter; core NIM stable ex-PPP.
Non-accrual loans 0.65% of total loans; net recoveries of $50K.
Closed acquisition of Bank Leumi USA on April 1, 2022.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.