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Sep 30, 2022
Valley National Q3 2022 Earnings Report
Valley National's earnings increased by 45 percent due to strong net interest income and margin.
Key Takeaways
Valley National Bancorp reported a strong third quarter in 2022, with net income of $178.1 million, or $0.34 per diluted common share, compared to $122.6 million, or $0.29 per diluted common share, for the third quarter 2021.
Net interest income on a tax equivalent basis increased to $455.3 million.
Net interest margin on a tax equivalent basis increased to 3.60 percent.
Total loans increased by $1.6 billion to $45.2 billion.
Net recoveries of loan charge-offs totaled $5.6 million.
Valley National
Valley National
Valley National Revenue by Segment
Revenue by Segment
Commercial & Industrial Loans Revenue
CapyFin.comCommercial Real Estate Revenue
CapyFin.comResidential Mortgage Revenue
CapyFin.comConsumer Loans Revenue
CapyFin.com Forward Guidance
No specific forward guidance was provided in the text.