VALLEY NATIONAL BANCORP
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 28, 2025
VLY$14.30+1.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Financial Condition
| December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| (in thousands except for share data) | ||
| Assets | ||
| Cash and due from banks | $411,412 | $284,090 |
| Interest bearing deposits with banks | 1,478,713 | 607,135 |
| Investment securities: | ||
| Equity securities | 71,513 | 64,464 |
| Trading debt securities | — | 3,973 |
| Available for sale debt securities | 3,369,724 | 1,296,576 |
| Held to maturity debt securities (net of allowance for credit losses of $647 at December 31, 2024 and $1,205 at December 31, 2023) | 3,531,573 | 3,739,208 |
| Total investment securities | 6,972,810 | 5,104,221 |
| Loans held for sale (includes fair value of $16,931 at December 31, 2024 and $20,640 at December 31, 2023 for loans originated for sale) | 25,681 | 30,640 |
| Loans | 48,799,711 | 50,210,295 |
| Less: Allowance for loan losses | (558,850) | (446,080) |
| Net loans | 48,240,861 | 49,764,215 |
| Premises and equipment, net | 350,796 | 381,081 |
| Lease right of use assets | 328,475 | 343,461 |
| Bank owned life insurance | 731,574 | 723,799 |
| Accrued interest receivable | 239,941 | 245,498 |
| Goodwill | 1,868,936 | 1,868,936 |
| Other intangible assets, net | 128,661 | 160,331 |
| Other assets | 1,713,831 | 1,421,567 |
| Total Assets | $62,491,691 | $60,934,974 |
| Liabilities | ||
| Deposits: | ||
| Non-interest bearing | $11,428,674 | $11,539,483 |
| Interest bearing: | ||
| Savings, NOW and money market | 26,304,639 | 24,526,622 |
| Time | 12,342,544 | 13,176,724 |
| Total deposits | 50,075,857 | 49,242,829 |
| Short-term borrowings | 72,718 | 917,834 |
| Long-term borrowings | 3,174,155 | 2,328,375 |
| Junior subordinated debentures issued to capital trusts | 57,455 | 57,108 |
| Lease liabilities | 388,303 | 403,781 |
| Accrued expenses and other liabilities | 1,288,076 | 1,283,656 |
| Total Liabilities | 55,056,564 | 54,233,583 |
| Shareholders’ Equity | ||
| Preferred stock, no par value; authorized 50,000,000 shares: | ||
| Series A (4,600,000 shares issued at December 31, 2024 and December 31, 2023) | 111,590 | 111,590 |
| Series B (4,000,000 shares issued at December 31, 2024 and December 31, 2023) | 98,101 | 98,101 |
| Series C (6,000,000 shares issued at December 31, 2024) | 144,654 | — |
| Common stock (no par value, authorized 650,000,000 shares; issued 558,786,093 shares at December 31, 2024 and 507,896,910 shares at December 31, 2023) | 195,998 | 178,187 |
| Surplus | 5,442,070 | 4,989,989 |
| Retained earnings | 1,598,048 | 1,471,371 |
| Accumulated other comprehensive loss | (155,334) | (146,456) |
| Treasury stock, at cost (186,983 common shares at December 31, 2023) | — | (1,391) |
| Total Shareholders’ Equity | 7,435,127 | 6,701,391 |
| Total Liabilities and Shareholders’ Equity | $62,491,691 | $60,934,974 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.