secwatch.observer — SEC 8-K summary
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Issuer:     VALLEY NATIONAL BANCORP (VLY)
CIK:        0000714310
Form:       8-K
Filed at:   2025-01-23T23:59:59+00:00
Accession:  0000714310-25-000003
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Valley Q4 GAAP net income $115.7M but adjusted EPS $0.13; credit costs spike
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- GAAP net income $115.7M ($0.20 EPS) vs Q3 $97.9M ($0.18); adjusted net income $75.7M ($0.13 EPS).
- Net interest margin (tax-equivalent) improved to 2.92% from 2.86% Q3; deposit costs fell 31bp.
- Provision for credit losses jumped to $107M from $75M Q3; ACL ratio 1.17% vs 1.14% Q3.
- Non-accrual loans rose to $359.5M (0.74% of loans) from $296.3M; net charge-offs $98.3M vs $42.9M.
- Completed 49.2M share common stock offering (net $448.9M); CRE concentration ratio fell to 362% from 421%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/714310/000071431025000003/0000714310-25-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/714310/000071431025000003/vly-20250123.htm
  HTML page:      https://secwatch.observer/filing/0000714310-25-000003

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