VALLEY NATIONAL BANCORP
For the period ended Oct 22, 2026. Filed Oct 22, 2026.
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Oct 22, 2026 · Filed Oct 22, 2026
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VLY$14.08+0.1%Stored close · as of Nov 6, 2026
Contents
EX-99.1 · SELECTED FINANCIAL DATA
SELECTED FINANCIAL DATA
| Three Months Ended · Nine Months Ended | |||||
|---|---|---|---|---|---|
| September 30, · June 30, · September 30, · September 30, | |||||
| ($ in thousands, except for share data and stock price) | 2026 | 2026 | 2025 | 2026 | 2025 |
| FINANCIAL DATA: | |||||
| Net interest income - FTE (1) | $506,794 | $488,388 | $447,473 | $1,467,983 | $1,302,525 |
| Net interest income | 505,451 | 487,024 | 446,224 | 1,464,000 | 1,298,737 |
| Non-interest income | 78,700 | 73,711 | 64,887 | 221,247 | 185,785 |
| Total revenue | 584,151 | 560,735 | 511,111 | 1,685,247 | 1,484,522 |
| Non-interest expense | 309,958 | 311,123 | 281,985 | 931,007 | 842,725 |
| Pre-provision net revenue | 274,193 | 249,612 | 229,126 | 754,240 | 641,797 |
| Provision for credit losses | 30,641 | 29,164 | 19,171 | 81,061 | 119,631 |
| Income tax expense | 37,252 | 49,563 | 46,600 | 132,081 | 119,586 |
| Net income | 206,300 | 170,885 | 163,355 | 541,098 | 402,580 |
| Dividends on preferred stock | 7,335 | 7,316 | 7,644 | 21,868 | 21,547 |
| Net income available to common shareholders | $198,965 | $163,569 | $155,711 | $519,230 | $381,033 |
| Weighted average number of common shares outstanding: | |||||
| Basic | 552,358,147 | 553,740,562 | 560,504,275 | 553,946,293 | 560,154,649 |
| Diluted | 556,266,986 | 556,958,049 | 563,636,933 | 557,405,979 | 563,905,535 |
| Per common share data: | |||||
| Basic earnings | $0.36 | $0.30 | $0.28 | $0.94 | $0.68 |
| Diluted earnings | 0.36 | 0.29 | 0.28 | 0.93 | 0.68 |
| Cash dividends declared | 0.11 | 0.11 | 0.11 | 0.33 | 0.33 |
| Closing stock price - high | 15.19 | 14.78 | 11.10 | 15.19 | 11.10 |
| Closing stock price - low | 12.62 | 12.42 | 9.18 | 11.66 | 7.87 |
| FINANCIAL RATIOS: | |||||
| Net interest margin | 3.27% | 3.19% | 3.04% | 3.21% | 3.00% |
| Net interest margin - FTE (1) | 3.28 | 3.20 | 3.05 | 3.22 | 3.01 |
| Annualized return on average assets | 1.24 | 1.04 | 1.04 | 1.10 | 0.86 |
| Annualized return on average shareholders' equity | 10.36 | 8.65 | 8.58 | 9.12 | 7.13 |
| NON-GAAP FINANCIAL DATA AND RATIOS: (2) | |||||
| Basic earnings per share, as adjusted | $0.36 | $0.30 | $0.28 | $0.95 | $0.68 |
| Diluted earnings per share, as adjusted | 0.36 | 0.30 | 0.28 | 0.94 | 0.68 |
| Annualized return on average assets, as adjusted | 1.24% | 1.05% | 1.04% | 1.12% | 0.87% |
| Annualized return on average shareholders' equity, as adjusted | 10.36 | 8.75 | 8.62 | 9.24 | 7.16 |
| Annualized return on average tangible common shareholders' equity | 14.24 | 11.91 | 12.05 | 12.58 | 10.08 |
| Annualized return on average tangible common shareholders' equity, as adjusted | 14.24 | 12.05 | 12.10 | 12.74 | 10.13 |
| Efficiency ratio | 49.38 | 52.11 | 53.37 | 51.49 | 54.79 |
| AVERAGE BALANCE SHEET ITEMS: | |||||
| Assets | $66,506,401 | $65,584,823 | $63,046,215 | $65,435,632 | $62,224,382 |
| Interest earning assets | 61,834,602 | 61,057,362 | 58,623,153 | 60,878,033 | 57,695,831 |
| Loans | 52,683,932 | 51,884,173 | 49,270,853 | 51,620,023 | 48,988,393 |
| Interest bearing liabilities | 44,550,998 | 44,160,202 | 42,677,630 | 44,025,506 | 41,947,670 |
| Deposits | 54,163,381 | 53,174,301 | 51,167,324 | 53,243,510 | 50,080,358 |
| Shareholders' equity | 7,967,868 | 7,901,688 | 7,616,810 | 7,908,818 | 7,533,660 |
| As of | |||||
|---|---|---|---|---|---|
| BALANCE SHEET ITEMS: | September 30, | June 30, | March 31, | December 31, | September 30, |
| (In thousands) | 2026 | 2026 | 2026 | 2025 | 2025 |
| Assets | $67,470,879 | $66,318,308 | $64,466,585 | $64,132,725 | $63,018,614 |
| Total loans | 53,189,984 | 52,467,251 | 50,828,820 | 50,136,728 | 49,272,823 |
| Deposits | 55,228,795 | 54,118,607 | 52,859,621 | 52,183,093 | 51,175,758 |
| Shareholders' equity | 7,896,552 | 7,917,144 | 7,828,443 | 7,807,698 | 7,695,374 |
| LOANS: | |||||
| (In thousands) | |||||
| Commercial and industrial | $12,324,253 | $11,961,242 | $11,104,079 | $10,961,519 | $10,757,857 |
| Commercial real estate: | |||||
| Non-owner occupied | 11,001,011 | 11,146,663 | 11,503,874 | 11,571,127 | 11,674,103 |
| Multifamily | 9,024,673 | 9,034,186 | 8,588,462 | 8,571,713 | 8,394,694 |
| Owner occupied | 8,008,473 | 7,692,877 | 7,132,254 | 6,629,909 | 6,097,319 |
| Total | 28,034,157 | 27,873,726 | 27,224,590 | 26,772,749 | 26,166,116 |
| Construction | 2,658,202 | 2,475,109 | 2,485,387 | 2,471,233 | 2,517,258 |
| Total commercial real estate | 30,692,359 | 30,348,835 | 29,709,977 | 29,243,982 | 28,683,374 |
| Residential mortgage | 6,084,398 | 5,982,941 | 5,869,070 | 5,826,192 | 5,795,395 |
| Consumer: | |||||
| Home equity | 748,969 | 728,623 | 701,136 | 687,680 | 655,872 |
| Automobile | 2,031,983 | 2,150,089 | 2,198,102 | 2,184,600 | 2,191,976 |
| Other consumer | 1,308,022 | 1,295,521 | 1,246,456 | 1,232,755 | 1,188,349 |
| Total consumer loans | 4,088,974 | 4,174,233 | 4,145,694 | 4,105,035 | 4,036,197 |
| Total loans | $53,189,984 | $52,467,251 | $50,828,820 | $50,136,728 | $49,272,823 |
| CAPITAL RATIOS: | |||||
| Book value per common share | $13.70 | $13.67 | $13.48 | $13.39 | $13.09 |
| Tangible book value per common share (2) | 10.15 | 10.13 | 9.94 | 9.85 | 9.57 |
| Tangible common equity to tangible assets (2) | 8.53% | 8.71% | 8.82% | 8.82% | 8.79% |
| Tier 1 leverage capital | 9.54 | 9.49 | 9.56 | 9.63 | 9.52 |
| Common equity tier 1 capital | 10.71 | 10.71 | 10.91 | 10.99 | 11.00 |
| Tier 1 risk-based capital | 11.36 | 11.37 | 11.60 | 11.69 | 11.72 |
| Total risk-based capital | 13.70 | 13.77 | 13.66 | 13.77 | 13.83 |
| Three Months Ended · Nine Months Ended | |||||
|---|---|---|---|---|---|
| ALLOWANCE FOR CREDIT LOSSES: · September 30, · June 30, · September 30, · September 30, | |||||
| ($ in thousands) | 2026 | 2026 | 2025 | 2026 | 2025 |
| Allowance for credit losses for loans | |||||
| Beginning balance - Allowance for credit losses for loans | $606,920 | $599,800 | $594,020 | $596,100 | $573,328 |
| Loans charged-off: | |||||
| Commercial and industrial | (17,656) | (9,838) | (2,745) | (30,276) | (56,390) |
| Commercial real estate | (19,075) | (14,434) | (11,776) | (47,265) | (38,659) |
| Construction | — | — | (541) | — | (1,704) |
| Residential mortgage | — | — | (26) | — | (72) |
| Total consumer | (3,327) | (3,354) | (1,478) | (9,944) | (5,831) |
| Total loans charged-off | (40,058) | (27,626) | (16,566) | (87,485) | (102,656) |
| Charged-off loans recovered: | |||||
| Commercial and industrial | 1,268 | 1,669 | 1,169 | 4,335 | 4,768 |
| Commercial real estate | 700 | 2,790 | 206 | 3,837 | 643 |
| Construction | — | — | — | — | 455 |
| Residential mortgage | 26 | 41 | 56 | 150 | 261 |
| Total consumer | 986 | 1,080 | 548 | 2,495 | 2,164 |
| Total loans recovered | 2,980 | 5,580 | 1,979 | 10,817 | 8,291 |
| Total net charge-offs | (37,078) | (22,046) | (14,587) | (76,668) | (94,365) |
| Provision for credit losses for loans | 30,658 | 29,166 | 19,171 | 81,068 | 119,641 |
| Ending balance | $600,500 | $606,920 | $598,604 | $600,500 | $598,604 |
| Components of allowance for credit losses for loans: | |||||
| Allowance for loan losses | $580,800 | $590,600 | $585,000 | $580,800 | $585,000 |
| Allowance for unfunded credit commitments | 19,700 | 16,320 | 13,604 | 19,700 | 13,604 |
| Allowance for credit losses for loans | $600,500 | $606,920 | $598,604 | $600,500 | $598,604 |
| Components of provision for credit losses for loans: | |||||
| Provision for credit losses for loans | $27,278 | $28,146 | $20,087 | $74,068 | $120,515 |
| Provision (credit) for unfunded credit commitments | 3,380 | 1,020 | (916) | 7,000 | (874) |
| Total provision for credit losses for loans | $30,658 | $29,166 | $19,171 | $81,068 | $119,641 |
| Annualized ratio of total net charge-offs to total average loans | 0.28% | 0.17% | 0.12% | 0.20% | 0.26% |
| Allowance for credit losses for loans as a % of total loans | 1.13% | 1.16% | 1.21% | 1.13% | 1.21% |
| As of | |||||
|---|---|---|---|---|---|
| ASSET QUALITY: | September 30, | June 30, | March 31, | December 31, | September 30, |
| ($ in thousands) | 2026 | 2026 | 2026 | 2025 | 2025 |
| Accruing past due loans: | |||||
| 30 to 59 days past due: | |||||
| Commercial and industrial | $6,990 | $5,083 | $5,285 | $11,177 | $912 |
| Commercial real estate | 72,568 | 106,034 | 69,494 | 72,810 | 26,371 |
| Construction | — | 1,752 | — | — | — |
| Residential mortgage | 14,221 | 22,154 | 20,534 | 21,615 | 23,556 |
| Total consumer | 15,488 | 15,974 | 13,112 | 14,420 | 12,728 |
| Total 30 to 59 days past due | 109,267 | 150,997 | 108,425 | 120,022 | 63,567 |
| 60 to 89 days past due: | |||||
| Commercial and industrial | 990 | 2,748 | 1,015 | 1,274 | 1,061 |
| Commercial real estate | 10,869 | — | — | — | 6,033 |
| Residential mortgage | 11,927 | 6,495 | 4,285 | 10,181 | 5,040 |
| Total consumer | 4,127 | 3,904 | 3,506 | 5,269 | 4,023 |
| Total 60 to 89 days past due | 27,913 | 13,147 | 8,806 | 16,724 | 16,157 |
| 90 or more days past due: | |||||
| Commercial and industrial | 2,505 | 3,527 | 3,499 | — | — |
| Commercial real estate | 10,295 | 5,454 | — | 212 | — |
| Residential mortgage | 2,524 | 5,223 | 5,894 | 3,300 | 3,911 |
| Total consumer | 2,008 | 1,862 | 1,309 | 1,070 | 1,125 |
| Total 90 or more days past due | 17,332 | 16,066 | 10,702 | 4,582 | 5,036 |
| Total accruing past due loans | $154,512 | $180,210 | $127,933 | $141,328 | $84,760 |
| Non-accrual loans: | |||||
| Commercial and industrial | $168,080 | $147,731 | $145,804 | $138,321 | $92,214 |
| Commercial real estate | 253,088 | 256,081 | 225,417 | 236,221 | 235,754 |
| Construction | 39,257 | 9,139 | 9,148 | 9,140 | 48,248 |
| Residential mortgage | 44,858 | 42,992 | 45,988 | 44,424 | 38,949 |
| Total consumer | 6,107 | 6,686 | 6,289 | 5,832 | 6,324 |
| Total non-accrual loans | 511,390 | 462,629 | 432,646 | 433,938 | 421,489 |
| Other real estate owned (OREO) | 1,729 | 4,126 | 5,161 | 4,531 | 4,783 |
| Other repossessed assets | 675 | 1,020 | 1,758 | 1,286 | 1,065 |
| Total non-performing assets | $513,794 | $467,775 | $439,565 | $439,755 | $427,337 |
| Total non-accrual loans as a % of loans | 0.96% | 0.88% | 0.85% | 0.87% | 0.86% |
| Total accruing past due and non-accrual loans as a % of loans | 1.25% | 1.23% | 1.10% | 1.15% | 1.03% |
| Allowance for losses on loans as a % of non-accrual loans | 113.57% | 127.66% | 135.10% | 134.44% | 138.79% |
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