---
schema_version: "secwatch.filing_event.v1"
accession: "0000714310-24-000146"
form_type: "8-K"
ticker: "VLY"
cik: "0000714310"
company_name: "VALLEY NATIONAL BANCORP"
filed_at: "2024-07-25T23:59:59+00:00"
generated_at: "2026-05-31T16:29:08.928048+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Valley Q2 net income $70.4M ($0.13 EPS) down 27% QoQ; provision surges to $82.1M

## Summary
- Diluted EPS $0.13 vs $0.18 Q1 2024 and $0.27 Q2 2023; adjusted EPS also $0.13.
- Net interest income (TE) $403M, up $8.1M QoQ but down $18.3M YoY; NIM 2.84% vs 2.79% Q1.
- Provision for credit losses $82.1M, up from $45.3M Q1, driven by CRE reserves and $36.8M net charge-offs on two large relationships.
- Synthetic credit risk transfer on $1.5B auto loans completed June 2024; capital ratios improved ~20 bps; ~$6M remaining premium expense in 2024.
- Non-accrual loans 0.60% of total loans; total NPAs $312.9M, up $24.2M QoQ; allowance ratio 1.06% vs 0.98% Q1.

## SEC filing metadata
- accession: 0000714310-24-000146
- form_type: 8-K
- ticker: VLY
- cik: 0000714310
- company_name: VALLEY NATIONAL BANCORP
- filed_at: 2024-07-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/714310/000071431024000146/0000714310-24-000146-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/714310/000071431024000146/vly-20240725.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000714310-24-000146
- JSON: https://secwatch.observer/filing/0000714310-24-000146.json
- Plain text: https://secwatch.observer/filing/0000714310-24-000146.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.