secwatch.observer — SEC 8-K summary
======================================

Issuer:     VALLEY NATIONAL BANCORP (VLY)
CIK:        0000714310
Form:       8-K
Filed at:   2023-01-26T23:59:59+00:00
Accession:  0000714310-23-000003
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Valley National Q4 net income $177.6M ($0.34 EPS), loans grow 15% annualized
----------------------------------------------------------------------------

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/714310/000071431023000003/0000714310-23-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/714310/000071431023000003/vly-20230126.htm
  HTML page:      https://secwatch.observer/filing/0000714310-23-000003

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer