Valley National Q3 EPS $0.27 flat QoQ, down YoY; NIM 2.91%

VALLEY NATIONAL BANCORP

2023-Q3 EPS reported $0.81

GAAP net income $141.3M ($0.27 diluted EPS); adjusted EPS $0.26; YoY EPS fell from $0.34.
Net interest income (tax-equiv) $413.7M, down $7.6M QoQ; NIM 2.91% (-3 bps).
Loans grew 1.8% annualized to $50.1B; deposits up $265.5M to $49.9B.
Provision for credit losses $9.1M (Q2: $6.3M); net charge-offs $5.5M (Q2: $8.6M).
Efficiency ratio 56.72% vs 55.59% Q2; CET1 ratio 9.21%; core conversion completed Oct.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

VALLEY NATIONAL BANCORP reported financial results for third quarter 2023.

Period: third quarter 2023
Result: reported results

Exact text from the filing

On October 26, 2023 , Valley National Bancorp (“Valley”), issued a press release announcing Valley’s financial results for the third quarter 2023.

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39 earnings releases filed in the last 30 days. Browse all earnings releases →

VALLEY NATIONAL BANCORP filing history →

Source: SEC EDGAR

accession 0000714310-23-000131

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