Valley National ( (VLY) ) has released its Q1 earnings. Here is a breakdown of the information Valley National presented to its investors.
Valley National Bancorp is a regional bank holding company with approximately $62 billion in assets, operating across several states including New Jersey, New York, and Florida, providing a range of banking services to individuals and businesses. In the first quarter of 2025, Valley National Bancorp reported a net income of $106.1 million, or $0.18 per diluted common share, reflecting a slight decrease from the previous quarter but an increase from the same period last year. The company highlighted improvements in its funding base and credit quality, with a notable increase in core deposits and a reduction in non-accrual loans. Key financial metrics showed a net interest margin increase to 2.96% and a decrease in total loans by $142.6 million due to repayment activities. The provision for credit losses was significantly lower than the previous quarter, indicating improved credit conditions. Looking ahead, Valley National Bancorp’s management remains optimistic about achieving profitability goals, supported by core deposit growth and favorable credit cost trends.