Valley National Q1 net income $106.1M ($0.18 EPS); credit quality improves, NIM expands to 2.96%

VALLEY NATIONAL BANCORP

2025-Q1 EPS reported $0.18

Net income $106.1M, diluted EPS $0.18 (flat YoY, down from $0.20 in Q4 2024).
Net interest margin (tax-equivalent) 2.96%, +4bps QoQ; net interest income $421.4M.
Provision for credit losses $62.7M vs $107.0M in Q4 2024; net charge-offs $41.9M (down from $98.3M).
Non-accrual loans fell to $346.5M (0.71% of total loans); accruing past-due loans halved to $51.7M.
Core deposits grew: non-interest bearing up $199.9M; brokered deposits down $726.5M to $6.3B.

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