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Mar 31, 2022
Valley National Q1 2022 Earnings Report
Reported strong organic loan growth and solid net interest income and margin.
Key Takeaways
Valley National Bancorp reported a strong first quarter in 2022, marked by robust commercial loan growth, solid credit metrics, and a stable core net interest margin. Net income was $116.7 million, or $0.27 per diluted common share.
Total loans increased $1.2 billion to $35.4 billion.
Net interest income on a tax equivalent basis increased $24.8 million compared to Q1 2021.
Non-interest income increased $1.0 million to $39.3 million.
Non-interest expense increased $12.8 million to $197.3 million.
Valley National
Valley National
Valley National Revenue by Segment
Forward Guidance
Leveraging Bank Leumi’s core business relationships is expected to provide additional differentiated growth opportunities for Valley. Bank Leumi further solidifies Valley as one of the nation's premier full-service commercial banks.