earnings
confidence high
sentiment positive
materiality 0.75
Valley National Q4 net income $177.6M ($0.34 EPS), loans grow 15% annualized
VALLEY NATIONAL BANCORP
2022-FY EPS reported
$1.14
- Net income $177.6M ($0.34 diluted EPS); adjusted net income $182.9M ($0.35 diluted EPS).
- Net interest income (tax-equiv) $467.2M; NIM 3.57%, down 3 bps QoQ.
- Total loans up $1.7B to $46.9B (15% annualized growth); deposits up $2.3B to $47.6B.
- Provision for credit losses $7.3M; net charge-offs $22.4M largely from one non-performing loan.
- Efficiency ratio 49.30%; ROE 11.23%; tangible ROE 16.70%; capital ratios well-capitalized.