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VALLEY NATL BCP   FYE=12 (December)

Annual - Income Statement - Company Specific

Fiscal period2020201920182017201620152014201320122011
Period End Date12/31/202012/31/201912/31/201812/31/201712/31/201612/31/201512/31/201412/31/201312/31/201212/31/2011
Interest and fees on loans1,284.711,198.911,033.99734.47680.88633.20552.82537.30581.70547.37
Interest and Dividends on Investment Securities:Taxable70.2586.9387.3172.6858.1452.0562.4657.3968.70108.13
Interest and dividends on investment securities:Dividends11.6412.0213.219.816.216.566.276.247.116.66
Interest and dividends on investment securities:Tax-exempt14.5617.4221.5015.4015.5414.5714.6814.4313.1611.27
Interest on federal funds sold and other short-term investments2.565.723.241.791.130.650.370.740.540.40
Total Interest Income1,383.721,321.001,159.25834.15761.89707.02636.60616.10671.19673.82
Interest on deposits:Time106.07166.6981.9642.5537.7835.4327.8829.9337.4748.29
Interest on deposits:Savings, NOW and money market76.17145.18108.3955.3039.7924.8219.6717.8620.0919.88
Interest on short-term borrowings11.3747.8645.9318.0312.020.920.970.591.391.15
Interest on long-term borrowings----------------122.37--
Interest on long-term borrowings and junior subordinated debentures71.2163.2265.7658.2359.1995.58113.32120.00--129.69
Total interest expense264.82422.95302.05174.11148.77156.75161.85168.38181.31199.01
Net Interest Income1,118.90898.05857.20660.05613.11550.27474.76447.72489.88474.81
Provision for credit losses125.0924.2232.509.9411.878.101.8816.1025.5553.34
Provision for credit losses for held to maturity securities0.64------------------
Net Interest Income After Loan Loss Provision993.18873.83824.70650.11601.25542.17472.87431.63464.33421.48
Insurance premiums7.4010.4115.2118.1619.1117.2316.8515.9115.4915.63
Fees from loan servicing10.359.799.327.386.446.647.017.024.844.34
Service charges on deposit accounts18.2623.6426.8221.5320.8821.1822.7724.1224.7522.61
(Losses) gains on securities transactions, net------(0.02)0.782.490.7514.682.5932.07
Other-than-temporary impairment losses on securities--(2.93)--0.00----------(42.78)
Portion of loss recognized in other comprehensive income (before taxes)------------------22.81
Net impairment losses on securities recognized in earnings--(2.93)--0.00--------(5.25)(19.97)
Portion recognized in other comprehensive income (before taxes)----------------(5.25)--
Gains on sales of loans, net42.2518.9120.5220.8122.034.251.7333.7047.0010.70
Change in FDIC loss-share receivable------------(20.79)(8.43)(7.46)13.40
Trust and investment services12.4212.6512.6311.5410.3510.029.518.617.697.52
Credit card fee income--------------------
Gains on trading securities, net0.52(0.15)(2.34)----------2.792.27
Other non-interest (loss) income83.6455.6345.6125.0621.9915.1915.3016.1521.9715.92
Bank owned life insurance10.088.238.697.346.696.826.395.966.867.38
Gains (Loss) on sales of assets, net(1.89)78.33(2.40)(0.10)----18.0910.95(0.33)0.43
Total Non Interest Income183.03214.52134.05111.71108.2683.8077.62128.65120.95112.30
Employee benefit expense--------------------
Salary and employee benefits expense333.22327.43333.82263.34243.22221.77193.49194.41199.97176.31
Telecommunication expense10.749.8812.109.9210.028.266.996.84----
Advertising----------------7.108.37
Net occupancy and equipment expense129.00118.19108.7692.2487.1490.5274.4971.6371.2566.33
FDIC insurance premiums18.9521.7128.2719.8220.1016.8714.0516.7714.2912.76
Goodwill impairment--------------------
Amortization of other intangible assets24.6518.0818.4210.0211.339.179.928.269.789.32
Amortization of tax credit investments13.3420.3924.2041.7534.7427.3124.2014.354.16--
Merger-Related Charges--------------------
Other71.8863.0669.3646.1551.8255.1153.1252.5853.3550.16
Furniture and equipment expense--------------------
Loss on extinguishment of debt12.0432.00--0.00------------
Professional and legal fees32.3520.8134.1425.8317.7618.9516.8616.4915.0115.31
Credit card expense--------------------
Income (loss) on extinguishment of debt----------51.1310.130.00----
Total Non-Interest expense646.15631.56629.06509.07476.13499.08403.26381.34374.90338.56
Income Before Income Taxes530.07456.80329.69252.74233.38126.90147.23178.94210.38195.22
Income tax expense139.46147.0068.2790.8365.2323.9431.0646.9866.7562.71
Current expense:Federal96.0695.3251.158.48--7.9825.1613.2035.6852.21
Current expense:State48.4636.4628.905.50--(0.49)(5.55)3.452.6726.61
Deferred benefit:Federal and State(5.06)15.23(11.78)76.85--16.4511.4630.3328.40(16.11)
Net Income Before Dividends on preferred stock and accretion390.61309.79261.43161.91168.15102.96116.17131.96----
Dividends on preferred stock and accretion12.6912.6912.699.457.193.810.000.00----
Net Income (Loss) Available to Common Stockholders377.92297.11248.74152.46160.9699.14116.17131.96143.63132.51
Earnings Per Common Share:Basic0.940.880.750.580.630.420.560.660.730.74
Earnings Per Common Share:Diluted0.930.870.750.580.630.420.560.660.730.74
Weighted Average Shares Outstanding (Basic)403.75337.79331.26264.04254.84234.41205.72199.31197.35178.43
Weighted Average Shares Outstanding (Diluted)405.05340.12332.69264.89255.27234.44205.72199.31197.35178.43