secwatch.observer — SEC 8-K summary
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Issuer:     VALLEY NATIONAL BANCORP (VLY)
CIK:        0000714310
Form:       8-K
Filed at:   2022-04-28T23:59:59+00:00
Accession:  0000714310-22-000081
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/714310/000071431022000081/0000714310-22-000081-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/714310/000071431022000081/vly-20220428.htm
  HTML page:      https://secwatch.observer/filing/0000714310-22-000081

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