Valley National Bancorp redeems $115M 5.25% subordinated notes due 2030

VALLEY NATIONAL BANCORP

Redemption of full $115M aggregate principal amount of 5.25% Fixed-to-Floating Rate Subordinated Notes due 2030.
Redemption date set for June 15, 2025 at 100% of principal plus accrued interest.
Interest will cease accruing on Redemption Date; no notes remain outstanding after redemption.
CEO Ira Robbins cites strengthened balance sheet and financial flexibility to optimize capital base.
Notes originally issued June 5, 2020; redemption eliminates future interest expense at 5.25%.

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