VALLEY NATIONAL BANCORP
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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FY2025 · Filed Feb 27, 2026
VLY$14.31+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| (in thousands) | |||
| Cash flows from operating activities: | |||
| Net income | $597,983 | $380,271 | $498,511 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 38,290 | 43,789 | 43,437 |
| Stock-based compensation | 27,279 | 28,988 | 33,102 |
| Provision for credit losses | 139,774 | 308,830 | 50,184 |
| Net accretion of discounts and amortization of premium on securities and borrowings | (9,237) | (3,399) | (2,145) |
| Amortization of other intangible assets | 30,428 | 35,045 | 39,768 |
| (Gains) losses on available for sale and held to maturity debt securities, net | (17) | 15 | (401) |
| Proceeds from sales of loans held for sale at fair value | 185,226 | 253,749 | 205,575 |
| (Gains) losses on sales of loans, net | (6,906) | 5,840 | (6,054) |
| Originations of loans held for sale | (173,493) | (244,710) | (204,686) |
| Losses (gains) on sales of assets, net | 3 | (3,727) | (6,809) |
| Loss on extinguishment of debt | 922 | — | — |
| Net deferred income tax expense (benefit) | 10,896 | (6,139) | (9,359) |
| Net change in: | |||
| Fair value of financial instruments hedged by derivative transactions | 11,174 | 13,402 | 4,810 |
| Trading debt securities | — | 3,973 | 9,465 |
| Lease right of use assets | 11,868 | 18,467 | (37,125) |
| Cash surrender value of bank owned life insurance | (19,704) | (16,942) | (11,843) |
| Accrued interest receivable | (3,956) | 5,557 | (48,892) |
| Other assets | 118,872 | (263,375) | (173,512) |
| Accrued expenses and other liabilities | (615,570) | (11,094) | (5,834) |
| Net cash provided by operating activities | 343,832 | 548,540 | 378,192 |
| Cash flows from investing activities: | |||
| Loans originated and purchased, net of principal collected | (1,476,923) | (137,723) | (3,346,633) |
| Equity securities: | |||
| Purchases | (14,293) | (9,950) | (14,011) |
| Sales and capital returns | 4,463 | 1,910 | 1,850 |
| Held to maturity debt securities: | |||
| Purchases | (320,460) | (103,256) | (302,774) |
| Maturities, calls and principal repayments | 357,008 | 309,475 | 379,536 |
| Available for sale debt securities: | |||
| Purchases | (1,432,385) | (2,387,595) | (112,317) |
| Sales | — | — | 18,779 |
| Maturities, calls and principal repayments | 704,152 | 296,860 | 78,588 |
| Death benefit proceeds from bank owned life insurance | 13,188 | 9,121 | 5,218 |
| Proceeds from sales of real estate property and equipment | 2,277 | 3,199 | 18,308 |
| Proceeds from sales of loans not originated for sale | 16,628 | 1,226,759 | — |
| Proceeds from sale of commercial premium finance lending division | — | 98,060 | — |
| Purchases of real estate property and equipment | (18,098) | (16,144) | (76,046) |
| Net cash used in investing activities | $(2,164,443) | $(709,284) | $(3,349,502) |
| VALLEY NATIONAL BANCORP | |||
|---|---|---|---|
| CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued) | |||
| Years Ended December 31, | |||
| 2025 | 2024 | 2023 | |
| (in thousands) | |||
| Cash flows from financing activities: | |||
| Net change in deposits | $2,106,612 | $830,609 | $1,605,915 |
| Net change in short-term borrowings | 18,757 | (845,116) | 779,105 |
| Proceeds from issuance of long-term borrowings, net | 210,000 | 1,001,800 | 1,251,804 |
| Repayments of long-term borrowings | (488,000) | (165,000) | (475,000) |
| Proceeds from issuance of preferred stock, net | — | 144,654 | — |
| Cash dividends paid to preferred shareholders | (28,981) | (21,369) | (14,338) |
| Cash dividends paid to common shareholders | (248,885) | (228,228) | (225,411) |
| Purchase of common shares related to stock compensation plan activity | (9,801) | (8,867) | (9,383) |
| Purchase of common shares to treasury | (63,001) | — | (2,092) |
| Common stock issued, net | 17,506 | 451,164 | 4,006 |
| Other, net | (156) | (3) | (18) |
| Net cash provided by financing activities | 1,514,051 | 1,159,644 | 2,914,588 |
| Net change in cash and cash equivalents | (306,560) | 998,900 | (56,722) |
| Cash and cash equivalents at beginning of year | 1,890,125 | 891,225 | 947,947 |
| Cash and cash equivalents at end of year | $1,583,565 | $1,890,125 | $891,225 |
| Supplemental disclosures of cash flow information: | |||
| Cash payments for: | |||
| Interest on deposits and borrowings | $1,529,721 | $1,737,721 | $1,359,534 |
| Federal and state income taxes | 53,461 | 89,701 | 236,503 |
| Supplemental schedule of non-cash investing activities: | |||
| Transfer of loans to other real estate owned, net | $878 | $12,431 | $974 |
| Transfer of loans to loans held for sale, net | 23,411 | 1,042,725 | 10,000 |
| Lease right of use assets obtained in exchange for operating lease liabilities | 35,504 | 21,501 | 81,727 |
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