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VALLEY NATL BCP   FYE=12 (December)

Annual - Income Statement - Company Specific

Fiscal period2024202320222021202020192018201720162015
Period End Date12/31/202412/31/202312/31/202212/31/202112/31/202012/31/201912/31/201812/31/201712/31/201612/31/2015
Interest and fees on loans3,079.862,886.931,828.481,257.391,284.711,198.911,033.99742.74685.91633.20
Interest and Dividends on Investment Securities:Taxable181.94130.71105.7256.0370.2586.9387.3172.6858.1452.05
Interest and dividends on investment securities:Dividends24.9624.1411.477.3611.6412.0213.219.816.216.56
Interest and dividends on investment securities:Tax-exempt19.2520.3117.9611.7214.5617.4221.5015.4015.5414.57
Interest on federal funds sold and other short-term investments51.4876.8113.061.742.565.723.241.791.130.65
Total Interest Income3,357.503,138.891,976.681,334.231,383.721,321.001,159.25842.42766.92707.02
Interest on deposits:Time644.96535.7569.6925.09106.07166.6981.9642.5537.7835.43
Interest on deposits:Savings, NOW and money market913.96739.03186.7142.8876.17145.18108.3955.3039.7924.82
Interest on short-term borrowings22.0594.8717.455.3711.3747.8645.9318.0312.020.92
Interest on long-term borrowings--------------------
Interest on long-term borrowings and junior subordinated debentures147.82103.7747.1950.9871.2163.2265.7658.2359.1995.58
Total interest expense1,728.791,473.41321.04124.33264.82422.95302.05174.11148.77156.75
Net Interest Income1,628.711,665.481,655.641,209.901,118.90898.05857.20668.31618.15550.27
Provision for credit losses(0.56)4.560.48(0.26)125.0924.2232.509.9411.878.10
Provision for credit losses for held to maturity securities309.3945.6356.3432.900.64----------
Net Interest Income After Loan Loss Provision1,319.881,615.291,598.821,177.27993.18873.83824.70658.37606.28542.17
Insurance premiums12.7911.1211.987.817.4010.4115.2118.1619.1117.23
Fees from loan servicing12.3910.6711.2711.6510.359.799.327.386.446.64
Service charges on deposit accounts48.2841.3136.9321.4218.2623.6426.8221.5320.8821.18
(Losses) gains on securities transactions, net----(1.23)----(0.15)(2.34)(0.02)0.782.49
Other-than-temporary impairment losses on securities----------(2.93)--------
Portion of loss recognized in other comprehensive income (before taxes)--------------------
Net impairment losses on securities recognized in earnings------0.00--(2.93)--------
Gains on sales of loans, net(5.84)6.056.4226.6742.2518.9120.5220.8122.034.25
Change in FDIC loss-share receivable----------------(1.29)(3.33)
Trust and investment services62.6244.1634.7114.9112.4212.6512.6311.5410.3510.02
Credit card fee income--------------------
Gains on trading securities, net0.101.10--1.760.52----------
Other non-interest (loss) income46.2751.1846.3261.0783.6455.6343.2116.7016.8915.74
Bank owned life insurance16.9411.848.048.8210.088.238.697.346.696.82
Capital markets27.2241.4952.36--------------
Gains (Loss) on sales of assets, net3.736.81--0.90(1.89)78.33----1.362.78
Total Non Interest Income224.50225.73206.79155.01183.03214.52134.05103.44103.2383.80
Employee benefit expense--------------------
Salary and employee benefits expense558.60563.59526.74375.87333.22327.43333.82254.57235.85221.77
Telecommunication expense135.11150.71--11.4110.749.8812.109.9210.028.26
Advertising--------------------
Net occupancy and equipment expense102.12101.4794.35132.10129.00118.19108.7692.2487.1490.52
FDIC insurance premiums61.4888.1522.8414.1818.9521.7128.2719.8220.1016.87
Goodwill impairment--------------------
Amortization of other intangible assets35.0539.7737.8321.8324.6518.0818.4210.0211.339.17
Amortization of tax credit investments18.9518.0112.4110.9113.3420.3924.2041.7534.7427.31
Merger-Related Charges--------------------
Other124.25120.4286.4278.4171.8863.0669.3654.9258.8755.11
Furniture and equipment expense----161.75--------------
Distributions on capital securities--------------------
Loss on extinguishment of debt--0.00--8.4112.0432.00--------
Professional and legal fees70.3280.5782.6238.4332.3520.8134.1425.8317.7618.95
Credit card expense--------------------
Income (loss) on extinguishment of debt--------------0.000.3251.13
Total Non-Interest expense1,105.861,162.691,024.95691.54646.15631.56629.06509.07476.13499.08
Income Before Income Taxes438.52678.33780.67640.74530.07456.80329.69252.74233.38126.90
Income tax expense58.25179.82211.82166.90139.46147.0068.2790.8365.2323.94
Current expense:Federal26.31123.57132.0692.8296.0695.3251.158.4825.187.98
Current expense:State38.0865.6172.2747.2548.4636.4628.905.5012.90(0.49)
Deferred benefit:Federal and State(6.14)(9.36)7.4926.83(5.06)15.23(11.78)76.8527.1516.45
Net Income Before Dividends on preferred stock and accretion380.27498.51568.85473.84390.61309.79261.43161.91168.15102.96
Dividends on preferred stock and accretion21.3716.1413.1512.6912.6912.6912.699.457.193.81
Net Income (Loss) Available to Common Stockholders358.90482.38555.71461.15377.92297.11248.74152.46160.9699.14
Earnings Per Common Share:Basic0.700.951.141.130.940.880.750.580.630.42
Earnings Per Common Share:Diluted0.690.951.141.120.930.870.750.580.630.42
Weighted Average Shares Outstanding (Basic)515.76507.53485.44407.45403.75337.79331.26264.04254.84234.41
Weighted Average Shares Outstanding (Diluted)517.99509.25487.82410.02405.05340.12332.69264.89255.27234.44