secwatch.observer — SEC 8-K summary
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Issuer:     VALLEY NATIONAL BANCORP (VLY)
CIK:        0000714310
Form:       8-K
Filed at:   2023-10-26T23:59:59+00:00
Accession:  0000714310-23-000131
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/714310/000071431023000131/0000714310-23-000131-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/714310/000071431023000131/vly-20231026.htm
  HTML page:      https://secwatch.observer/filing/0000714310-23-000131

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