VALLEY NATIONAL BANCORP
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
VLY$14.31+0.1%Stored close · as of Nov 10, 2026
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Consolidated Statements of Comprehensive Income
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| (in thousands) | |||
| Net income | $498,511 | $568,851 | $473,840 |
| Other comprehensive income (loss), net of tax: | |||
| Unrealized gains and losses on available for sale debt securities | |||
| Net gains (losses) arising during the period | 12,950 | (136,981) | (23,613) |
| Less reclassification adjustment for net gains included in net income | (634) | (23) | (491) |
| Total | 12,316 | (137,004) | (24,104) |
| Unrealized gains and losses on derivatives (cash flow hedges) | |||
| Net (losses) gains on derivatives arising during the period | (757) | 3,362 | 127 |
| Less reclassification adjustment for net losses included in net income | 638 | 203 | 2,447 |
| Total | (119) | 3,565 | 2,574 |
| Defined benefit pension and postretirement benefit plans | |||
| Net gains (losses) arising during the period | 5,436 | (13,175) | 10,306 |
| Amortization of prior service credit | (90) | (100) | (96) |
| Amortization of actuarial net loss | 3 | 644 | 1,106 |
| Total | 5,349 | (12,631) | 11,316 |
| Total other comprehensive income (loss) | 17,546 | (146,070) | (10,214) |
| Total comprehensive income | $516,057 | $422,781 | $463,626 |
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