VLY

The Present and Future of Proptech: Charting a Clearer Path in Murky Markets

Retrieved on: 
Tuesday, April 9, 2024
Banking, Technology, Professional Services, Data Analytics, Other Construction & Property, Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, Other Technology, Software, Building Systems, Other Professional Services, Internet, Data Management, Finance, Fintech, Artificial Intelligence, Automation, ROI, VLY, Growth, General partnership, Pitch book, Bank, AI, Investment, Future, Corporation, Renewable energy

The report was developed in collaboration with Pitchbook, Chris Green, Founder and CEO of GreenPoint Partners and Zak Schwarzman, General Partner, MetaProp.

Key Points: 
  • The report was developed in collaboration with Pitchbook, Chris Green, Founder and CEO of GreenPoint Partners and Zak Schwarzman, General Partner, MetaProp.
  • The majority of 2023 industry-wide investment in Proptech - 70 percent - was in venture capital with 144 deals closed for a combined value of $2.9 billion.
  • This was a sharp decline from 2022 as the pace of deal making in Proptech was impacted by the general slowdown in most other asset classes.
  • “This decline can be attributed to a number of economic and geopolitical factors,” said Tom Iadanza, President, Valley Bank.

Valley Bank’s New York City Commercial Banking Team Closes $150 Million Syndicated Credit Facility to a Premier New York -Based Finance Company

Retrieved on: 
Tuesday, April 2, 2024
Banking, Professional Services, Finance, Commercial bank, Region, National bank, VLY, Bank

Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NASDAQ:VLY), announced today that their New York City Commercial Banking Team closed a $150 million senior revolving credit facility for a premier New York -based finance company.

Key Points: 
  • Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NASDAQ:VLY), announced today that their New York City Commercial Banking Team closed a $150 million senior revolving credit facility for a premier New York -based finance company.
  • “Leveraging Valley Bank’s expertise in the Lender Finance arena allowed our team to provide a bespoke solution affording our client operational flexibility.
  • The structure also ensures meaningful runway for our client to continue building their legacy for many years to come,” commented Douglas J. Meyer, Regional President of New York City Commercial Banking at Valley Bank.
  • This is indicative of the strategy Valley has put in place to grow our Commercial Banking business activities across the firm.”

Valley National Bancorp Announces Adoption Of Share Repurchase Program

Retrieved on: 
Wednesday, February 21, 2024
Valley Bank, Security (finance), VLY

NEW YORK, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY) (“Valley”) today announced that its Board of Directors approved a stock repurchase program authorizing the purchase of up to 25 million shares of Valley common stock.

Key Points: 
  • NEW YORK, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY) (“Valley”) today announced that its Board of Directors approved a stock repurchase program authorizing the purchase of up to 25 million shares of Valley common stock.
  • Valley’s current stock repurchase program, unless terminated sooner, is set to expire on April 25, 2024.
  • The authorization to repurchase under the new repurchase program will be effective on April 26, 2024 and expire on April 26, 2026.
  • The program does not obligate Valley to acquire any particular amount of shares and may be suspended or discontinued at any time at Valley’s discretion.

Valley National Bancorp Declares Its Regular Quarterly Preferred And Common Stock Dividends

Retrieved on: 
Wednesday, February 21, 2024
Valley Bank, VLY, Holding company

NEW YORK, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY) (“Valley”), the holding company for Valley National Bank, announced today its regular preferred and common dividends.

Key Points: 
  • NEW YORK, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY) (“Valley”), the holding company for Valley National Bank, announced today its regular preferred and common dividends.
  • The declared quarterly dividends to shareholders of record on March 14, 2024 are as follows:
    A cash dividend of $0.390625 per share to be paid April 1, 2024 on Valley’s Non-Cumulative Perpetual Preferred Stock Series A;
    A cash dividend of $0.574234 per share to be paid March 29, 2024 on Valley’s Non-Cumulative Perpetual Preferred Stock Series B; and
    A cash dividend of $0.11 per share will be paid April 2, 2024 on Valley’s common stock.
  • The common stock cash dividend amount per share was unchanged as compared to the previous quarter dividend.
  • The common cash dividend should not be used as an indicator of future dividends to Valley’s common stockholders.

Valley National Bancorp Reports Fourth Quarter 2023 Results

Retrieved on: 
Thursday, January 25, 2024
FDIC, Table, Bank statement, Credit, ROA, Collection, VLY, FHLB, Sale, Valley Bank, Investment, NOW, NPAS, Asset, Fourth, Growth, Bank

During the fourth quarter 2023, the provision for credit losses for loans was $20.7 million as compared to $9.1 million and $7.3 million for the third quarter 2023 and fourth quarter 2022, respectively.

Key Points: 
  • During the fourth quarter 2023, the provision for credit losses for loans was $20.7 million as compared to $9.1 million and $7.3 million for the third quarter 2023 and fourth quarter 2022, respectively.
  • Credit Quality: Net loan charge-offs totaled $17.5 million for the fourth quarter 2023 as compared to $5.5 million and $22.4 million for the third quarter 2023 and fourth quarter 2022, respectively.
  • Efficiency Ratio: Our efficiency ratio was 60.70 percent for the fourth quarter 2023 as compared to 56.72 percent and 49.30 percent for the third quarter 2023 and fourth quarter 2022, respectively.
  • Net interest income on a tax equivalent basis totaling $398.6 million for the fourth quarter 2023 decreased $15.1 million and $68.7 million as compared to the third quarter 2023 and fourth quarter 2022, respectively.

Valley National Bancorp to Announce Fourth Quarter 2023 Earnings

Retrieved on: 
Monday, January 15, 2024
Valley Bank, Interest, PIN, VLY

NEW YORK, Jan. 15, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY), the holding company for Valley National Bank, announced that it will release its fourth quarter 2023 earnings before the market opens on Thursday, January 25, 2024.

Key Points: 
  • NEW YORK, Jan. 15, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY), the holding company for Valley National Bank, announced that it will release its fourth quarter 2023 earnings before the market opens on Thursday, January 25, 2024.
  • Valley’s CEO, Ira Robbins will host a conference call on Thursday, January 25th at 11:00 AM (ET) to discuss Valley’s fourth quarter 2023 earnings.
  • Interested parties should pre-register using this link: https://register.vevent.com/register/BI59917997f3234eb9aaa8c602edb76061 to receive the dial-in number and a personal PIN, which are required to access the conference call.
  • The teleconference will also be webcast live: https://edge.media-server.com/mmc/p/hdmf8u9e and archived on Valley’s website through Thursday, February 29, 2024.

Valley National Bancorp Declares Its Regular Quarterly Preferred and Common Stock Dividends

Retrieved on: 
Wednesday, December 6, 2023
Valley Bank, VLY, Holding company

NEW YORK, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY) (“Valley”), the holding company for Valley National Bank, announced today its regular preferred and common dividends.

Key Points: 
  • NEW YORK, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY) (“Valley”), the holding company for Valley National Bank, announced today its regular preferred and common dividends.
  • The declared quarterly dividends to shareholders of record on December 14, 2023 are as follows:
    A cash dividend of $0.390625 per share to be paid January 2, 2024 on Valley’s Non-Cumulative Perpetual Preferred Stock Series A;
    A cash dividend of $0.576856 per share to be paid December 29, 2023 on Valley’s Non-Cumulative Perpetual Preferred Stock Series B; and
    A cash dividend of $0.11 per share will be paid January 3, 2024 on Valley’s common stock.
  • The common stock cash dividend amount per share was unchanged as compared to the previous quarter dividend.
  • The common cash dividend should not be used as an indicator of future dividends to Valley’s common stockholders.

Valley National Bank Promotes Russell Barrett to Senior Executive Vice President, Chief Operations Officer

Retrieved on: 
Tuesday, December 19, 2023
Banking, Professional Services, Finance, BNP Paribas, Lead, VLY, Bank Leumi, CIO, Valley Bank, Data management, National bank, Senior, Management

Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NASDAQ:VLY), announced today the promotion of Russell Barrett to Senior Executive Vice President, Chief Operations Officer (COO).

Key Points: 
  • Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NASDAQ:VLY), announced today the promotion of Russell Barrett to Senior Executive Vice President, Chief Operations Officer (COO).
  • Barrett joined Valley in 2021 and served as the Chief Transformation Officer the past two years, overseeing the Bank’s enterprise change and transformation efforts and leading Valley’s successful core conversion initiative this past year.
  • Prior to that, Barrett led Bank Leumi USA’s technology and strategic digital transformation efforts as CIO.
  • As Valley’s new COO, Barrett will play a critical role working with Valley’s senior executive leadership team to deliver the bank’s strategic vision.

Valley National Bank Launches Community Home Equity Line of Credit Program

Retrieved on: 
Thursday, November 16, 2023
Personal Finance, Banking, Professional Services, Residential Building & Real Estate, Construction & Property, Shaun Cassidy, LMI, Houselink Community Homes, National bank, Valley Bank, FDIC, Equal housing lender, VLY, Bank, Credit

Valley National Bank , the wholly-owned subsidiary of Valley National Bancorp (NASDAQ:VLY), today announced the launch of its new Community Home Equity Line of Credit Program designed to support the needs of low-to-moderate income (LMI) borrowers.

Key Points: 
  • Valley National Bank , the wholly-owned subsidiary of Valley National Bancorp (NASDAQ:VLY), today announced the launch of its new Community Home Equity Line of Credit Program designed to support the needs of low-to-moderate income (LMI) borrowers.
  • The Community Home Equity Line of Credit Program features a low 12-month below market introductory rate of 6.67% as of November 1, 2023, with no closing costs.
  • “The Community Home Equity Line of Credit program is just another example of how we’re putting actions behind our words.
  • To learn more about Valley’s Community Home Equity Line of Credit and other Community Mortgage Products, reach out to Shawn Cassidy, Director of Mortgage Sales at 516.662.7342
    Valley is a member of the FDIC and an Equal Opportunity Lender.

Valley Bank Closes $130 Million Asset-Based Revolving Credit for Access Capital

Retrieved on: 
Wednesday, November 15, 2023
Banking, Asset Management, Professional Services, Finance, National Heads-Up Poker Championship, National bank, Valley Bank, Information technology consulting, Growth, VLY, Access, Bank

Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NASDAQ:VLY), announces the closing of a $130 million senior revolving credit facility to Access Capital, Inc. a commercial lender to the staffing industry.

Key Points: 
  • Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NASDAQ:VLY), announces the closing of a $130 million senior revolving credit facility to Access Capital, Inc. a commercial lender to the staffing industry.
  • Valley Specialty Finance offers a variety of products and services including working capital lines of credit, in-house trade finance, cash management, and syndications.
  • “As a leading independent lender to the staffing industry, Access Capital provides its clients with working capital so they can continue to grow their businesses,” said Douglas Meyer, First Senior Vice President, National Head of Specialty Finance, Valley Bank.
  • Access Capital provides working capital including revolving lines of credit for staffing companies for use as payroll funding & corporate purposes, in a wide range of industries including Temporary Staffing and Human Capital Management, IT Consulting, among others.