Valley National Bancorp 8-K, filed Oct 22, 2026

Valley National Bancorp (VLY)

8-K 2026-10-22 For: 2026-10-22

Added on October 22, 2026

About this 8-K

Valley National Bancorp filed this 8-K on October 22, 2026.

Valley National Bancorp reported third quarter 2026 net income of $206.3 million, or $0.36 per diluted common share, with a 3.28 percent net interest margin and 49.38 percent efficiency ratio. AI summary

Items reported

Item 2.02: Financial results
Item 7.01: Regulation FD disclosure
Item 9.01: Financial statements and exhibits

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Title of each class	Trading Symbols	Name of exchange on which registered
Common Stock, no par value	VLY	The Nasdaq Stock Market LLC
Non-Cumulative Perpetual Preferred Stock, Series A, no par value	VLYPP	The Nasdaq Stock Market LLC
Non-Cumulative Perpetual Preferred Stock, Series B, no par value	VLYPO	The Nasdaq Stock Market LLC
Non-Cumulative Perpetual Preferred Stock, Series C, no par value	VLYPN	The Nasdaq Stock Market LLC


Item 9.01						Financial Statements and Exhibits.
(d)						Exhibits.
Exhibit No.						Description
99.1						Press Release of Valley National Bancorp, dated October 22, 2026, announcing third quarter 2026 financial results.
99.2						Valley National Bancorp presentation materials used in connection with thir d quarter 2026 investor conference.
104						Cover Page Interactive Data File (embedded within the Inline XBRL document).


Dated: October 22, 2026	VALLEY NATIONAL BANCORP
	By:	/s/ Travis Lan
		Travis Lan
		Senior Executive Vice President and
		Chief Financial Officer (Principal Financial Officer)


FOR IMMEDIATE RELEASE	Contact:	Travis Lan
		Senior Executive Vice President and
		Chief Financial Officer
		973-686-5007


		September 30, 2026				June 30, 2026				September 30, 2025
				Allocation				Allocation				Allocation
				as a % of				as a % of				as a % of
		Allowance		Loan		Allowance		Loan		Allowance		Loan
		Allocation		Category		Allocation		Category		Allocation		Category
		($ in thousands)
Loan Category:
Commercial and industrial loans		$	211,513	1.72	%	$	198,910	1.66	%	$	161,848	1.50	%
Commercial real estate loans:
	Commercial real estate	252,903		0.90		268,445		0.96		297,685		1.14
	Construction	46,490		1.75		50,623		2.05		51,908		2.06
Total commercial real estate loans		299,393		0.98		319,068		1.05		349,593		1.22
Residential mortgage loans		47,376		0.78		48,905		0.82		51,094		0.88
Consumer loans:
	Home equity	4,341		0.58		4,333		0.59		3,735		0.57
	Auto and other consumer	18,177		0.54		19,384		0.56		18,730		0.55
Total consumer loans		22,518		0.55		23,717		0.57		22,465		0.56

Allowance for loan losses		580,800		1.09		590,600		1.13		585,000		1.19
Allowance for unfunded credit commitments		19,700				16,320				13,604
Total allowance for credit losses for loans		$	600,500			$	606,920			$	598,604
Allowance for credit losses for loans as a % of total loans				1.13	%			1.16	%			1.21	%


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


	Three Months Ended									Nine Months Ended
	September 30,			June 30,			September 30,			September 30,
($ in thousands, except for share data and stock price)	2026			2026			2025			2026			2025
FINANCIAL DATA:
Net interest income - FTE (1)	$	506,794		$	488,388		$	447,473		$	1,467,983		$	1,302,525
Net interest income	505,451			487,024			446,224			1,464,000			1,298,737
Non-interest income	78,700			73,711			64,887			221,247			185,785
Total revenue	584,151			560,735			511,111			1,685,247			1,484,522
Non-interest expense	309,958			311,123			281,985			931,007			842,725
Pre-provision net revenue	274,193			249,612			229,126			754,240			641,797
Provision for credit losses	30,641			29,164			19,171			81,061			119,631
Income tax expense	37,252			49,563			46,600			132,081			119,586
Net income	206,300			170,885			163,355			541,098			402,580
Dividends on preferred stock	7,335			7,316			7,644			21,868			21,547
Net income available to common shareholders	$	198,965		$	163,569		$	155,711		$	519,230		$	381,033
Weighted average number of common shares outstanding:
Basic	552,358,147			553,740,562			560,504,275			553,946,293			560,154,649
Diluted	556,266,986			556,958,049			563,636,933			557,405,979			563,905,535
Per common share data:
Basic earnings	$	0.36		$	0.30		$	0.28		$	0.94		$	0.68
Diluted earnings	0.36			0.29			0.28			0.93			0.68
Cash dividends declared	0.11			0.11			0.11			0.33			0.33
Closing stock price - high	15.19			14.78			11.10			15.19			11.10
Closing stock price - low	12.62			12.42			9.18			11.66			7.87
FINANCIAL RATIOS:
Net interest margin	3.27		%	3.19		%	3.04		%	3.21		%	3.00		%
Net interest margin - FTE (1)	3.28			3.20			3.05			3.22			3.01
Annualized return on average assets	1.24			1.04			1.04			1.10			0.86
Annualized return on average shareholders' equity	10.36			8.65			8.58			9.12			7.13
NON-GAAP FINANCIAL DATA AND RATIOS: (2)
Basic earnings per share, as adjusted	$	0.36		$	0.30		$	0.28		$	0.95		$	0.68
Diluted earnings per share, as adjusted	0.36			0.30			0.28			0.94			0.68
Annualized return on average assets, as adjusted	1.24		%	1.05		%	1.04		%	1.12		%	0.87		%
Annualized return on average shareholders' equity, as adjusted	10.36			8.75			8.62			9.24			7.16
Annualized return on average tangible common shareholders' equity	14.24			11.91			12.05			12.58			10.08
Annualized return on average tangible common shareholders' equity, as adjusted	14.24			12.05			12.10			12.74			10.13
Efficiency ratio	49.38			52.11			53.37			51.49			54.79




AVERAGE BALANCE SHEET ITEMS:
Assets	$	66,506,401		$	65,584,823		$	63,046,215		$	65,435,632		$	62,224,382
Interest earning assets	61,834,602			61,057,362			58,623,153			60,878,033			57,695,831
Loans	52,683,932			51,884,173			49,270,853			51,620,023			48,988,393
Interest bearing liabilities	44,550,998			44,160,202			42,677,630			44,025,506			41,947,670
Deposits	54,163,381			53,174,301			51,167,324			53,243,510			50,080,358
Shareholders' equity	7,967,868			7,901,688			7,616,810			7,908,818			7,533,660


	As of
BALANCE SHEET ITEMS:	September 30,			June 30,			March 31,			December 31,			September 30,
(In thousands)	2026			2026			2026			2025			2025
Assets	$	67,470,879		$	66,318,308		$	64,466,585		$	64,132,725		$	63,018,614
Total loans	53,189,984			52,467,251			50,828,820			50,136,728			49,272,823
Deposits	55,228,795			54,118,607			52,859,621			52,183,093			51,175,758
Shareholders' equity	7,896,552			7,917,144			7,828,443			7,807,698			7,695,374

LOANS:
(In thousands)



Commercial and industrial	$	12,324,253		$	11,961,242		$	11,104,079		$	10,961,519		$	10,757,857
Commercial real estate:
Non-owner occupied	11,001,011			11,146,663			11,503,874			11,571,127			11,674,103
Multifamily	9,024,673			9,034,186			8,588,462			8,571,713			8,394,694
Owner occupied	8,008,473			7,692,877			7,132,254			6,629,909			6,097,319
Total	28,034,157			27,873,726			27,224,590			26,772,749			26,166,116
Construction	2,658,202			2,475,109			2,485,387			2,471,233			2,517,258
Total commercial real estate	30,692,359			30,348,835			29,709,977			29,243,982			28,683,374
Residential mortgage	6,084,398			5,982,941			5,869,070			5,826,192			5,795,395
Consumer:
Home equity	748,969			728,623			701,136			687,680			655,872
Automobile	2,031,983			2,150,089			2,198,102			2,184,600			2,191,976
Other consumer	1,308,022			1,295,521			1,246,456			1,232,755			1,188,349
Total consumer loans	4,088,974			4,174,233			4,145,694			4,105,035			4,036,197
Total loans	$	53,189,984		$	52,467,251		$	50,828,820		$	50,136,728		$	49,272,823

CAPITAL RATIOS:
Book value per common share	$	13.70		$	13.67		$	13.48		$	13.39		$	13.09
Tangible book value per common share (2)	10.15			10.13			9.94			9.85			9.57
Tangible common equity to tangible assets (2)	8.53		%	8.71		%	8.82		%	8.82		%	8.79		%
Tier 1 leverage capital	9.54			9.49			9.56			9.63			9.52
Common equity tier 1 capital	10.71			10.71			10.91			10.99			11.00
Tier 1 risk-based capital	11.36			11.37			11.60			11.69			11.72
Total risk-based capital	13.70			13.77			13.66			13.77			13.83


	Three Months Ended									Nine Months Ended
ALLOWANCE FOR CREDIT LOSSES:	September 30,			June 30,			September 30,			September 30,
($ in thousands)	2026			2026			2025			2026			2025
Allowance for credit losses for loans
Beginning balance - Allowance for credit losses for loans	$	606,920		$	599,800		$	594,020		$	596,100		$	573,328



Loans charged-off:
Commercial and industrial	(17,656)			(9,838)			(2,745)			(30,276)			(56,390)
Commercial real estate	(19,075)			(14,434)			(11,776)			(47,265)			(38,659)
Construction	—			—			(541)			—			(1,704)
Residential mortgage	—			—			(26)			—			(72)
Total consumer	(3,327)			(3,354)			(1,478)			(9,944)			(5,831)
Total loans charged-off	(40,058)			(27,626)			(16,566)			(87,485)			(102,656)
Charged-off loans recovered:
Commercial and industrial	1,268			1,669			1,169			4,335			4,768
Commercial real estate	700			2,790			206			3,837			643
Construction	—			—			—			—			455
Residential mortgage	26			41			56			150			261
Total consumer	986			1,080			548			2,495			2,164
Total loans recovered	2,980			5,580			1,979			10,817			8,291
Total net charge-offs	(37,078)			(22,046)			(14,587)			(76,668)			(94,365)
Provision for credit losses for loans	30,658			29,166			19,171			81,068			119,641
Ending balance	$	600,500		$	606,920		$	598,604		$	600,500		$	598,604
Components of allowance for credit losses for loans:
Allowance for loan losses	$	580,800		$	590,600		$	585,000		$	580,800		$	585,000
Allowance for unfunded credit commitments	19,700			16,320			13,604			19,700			13,604
Allowance for credit losses for loans	$	600,500		$	606,920		$	598,604		$	600,500		$	598,604
Components of provision for credit losses for loans:
Provision for credit losses for loans	$	27,278		$	28,146		$	20,087		$	74,068		$	120,515
Provision (credit) for unfunded credit commitments	3,380			1,020			(916)			7,000			(874)
Total provision for credit losses for loans	$	30,658		$	29,166		$	19,171		$	81,068		$	119,641
Annualized ratio of total net charge-offs to total average loans	0.28		%	0.17		%	0.12		%	0.20		%	0.26		%
Allowance for credit losses for loans as a % of total loans	1.13		%	1.16		%	1.21		%	1.13		%	1.21		%


	As of
ASSET QUALITY:	September 30,			June 30,			March 31,			December 31,			September 30,
($ in thousands)	2026			2026			2026			2025			2025
Accruing past due loans:
30 to 59 days past due:
Commercial and industrial	$	6,990		$	5,083		$	5,285		$	11,177		$	912
Commercial real estate	72,568			106,034			69,494			72,810			26,371
Construction	—			1,752			—			—			—
Residential mortgage	14,221			22,154			20,534			21,615			23,556
Total consumer	15,488			15,974			13,112			14,420			12,728
Total 30 to 59 days past due	109,267			150,997			108,425			120,022			63,567
60 to 89 days past due:
Commercial and industrial	990			2,748			1,015			1,274			1,061
Commercial real estate	10,869			—			—			—			6,033

Residential mortgage	11,927			6,495			4,285			10,181			5,040
Total consumer	4,127			3,904			3,506			5,269			4,023
Total 60 to 89 days past due	27,913			13,147			8,806			16,724			16,157
90 or more days past due:
Commercial and industrial	2,505			3,527			3,499			—			—
Commercial real estate	10,295			5,454			—			212			—

Residential mortgage	2,524			5,223			5,894			3,300			3,911
Total consumer	2,008			1,862			1,309			1,070			1,125
Total 90 or more days past due	17,332			16,066			10,702			4,582			5,036
Total accruing past due loans	$	154,512		$	180,210		$	127,933		$	141,328		$	84,760
Non-accrual loans:
Commercial and industrial	$	168,080		$	147,731		$	145,804		$	138,321		$	92,214
Commercial real estate	253,088			256,081			225,417			236,221			235,754
Construction	39,257			9,139			9,148			9,140			48,248
Residential mortgage	44,858			42,992			45,988			44,424			38,949
Total consumer	6,107			6,686			6,289			5,832			6,324
Total non-accrual loans	511,390			462,629			432,646			433,938			421,489
Other real estate owned (OREO)	1,729			4,126			5,161			4,531			4,783
Other repossessed assets	675			1,020			1,758			1,286			1,065

Total non-performing assets	$	513,794		$	467,775		$	439,565		$	439,755		$	427,337
Total non-accrual loans as a % of loans	0.96		%	0.88		%	0.85		%	0.87		%	0.86		%
Total accruing past due and non-accrual loans as a % of loans	1.25		%	1.23		%	1.10		%	1.15		%	1.03		%
Allowance for losses on loans as a % of non-accrual loans	113.57		%	127.66		%	135.10		%	134.44		%	138.79		%


(1)			Net interest income and net interest margin are presented on a tax equivalent basis using a 21 percent federal tax rate. Valley believes that this presentation provides comparability of net interest income and net interest margin arising from both taxable and tax-exempt sources and is consistent with industry practice and SEC rules.

(2)			Non-GAAP Reconciliations. This press release contains certain supplemental financial information, described in the Notes below, which has been determined by methods other than U.S. Generally Accepted Accounting Principles (“GAAP”) that management uses in its analysis of Valley's performance. The Company believes that the non-GAAP financial measures provide useful supplemental information to both management and investors in understanding Valley’s underlying operational performance, business and performance trends, and may facilitate comparisons of our current and prior performance with the performance of others in the financial services industry. Management utilizes these measures for internal planning, forecasting and analysis purposes. Management believes that Valley’s presentation and discussion of this supplemental information, together with the accompanying reconciliations to the GAAP financial measures, also allows investors to view performance in a manner similar to management. These non-GAAP financial measures should not be considered in isolation or as a substitute for or superior to financial measures calculated in accordance with U.S. GAAP. These non-GAAP financial measures may also be calculated differently from similar measures disclosed by other companies.







			INVESTOR RELATIONS Requests for copies of reports and/or other inquiries should be directed to Andrew Jianette, Investor Relations, Valley National Bancorp, 70 Speedwell Avenue, Morristown, New Jersey, 07960 or by e-mail at investorrelations@valley.com.


Item 2.02			Results of Operations and Financial Condition.


Item 7.01			Regulation FD Disclosure.


						News Release


	Three Months Ended						Nine Months Ended
	September 30,		June 30,		September 30,		September 30,
($ in thousands, except for share data)	2026		2026		2025		2026		2025
Adjusted net income available to common shareholders (non-GAAP):
Net income, as reported (GAAP)	$	206,300	$	170,885	$	163,355	$	541,098	$	402,580
Add: Merger related expenses (a)	3,094		—		—		3,094		—
Add: Restructuring charge (b)	—		2,513		3,854		8,202		4,654

Add: Litigation reserve (c)	—		230		1,012		1,492		1,012
Add: Loss on extinguishment of debt	—		—		—		—		922
Less: Litigation settlements (d)	(3,051)		—		—		(3,051)		—
Less: (Gains) losses on available for sale and held to maturity debt securities, net (e)	(3)		—		(28)		7		(17)

Less: FDIC special assessment (f)	—		—		(3,817)		—		(3,817)

Total non-GAAP adjustments to net income	40		2,743		1,021		9,744		2,754
Income tax adjustments related to non-GAAP adjustments (g)	26		(782)		(288)		(2,740)		(765)
Net income, as adjusted (non-GAAP)	$	206,366	$	172,846	$	164,088	$	548,102	$	404,569
Dividends on preferred stock	7,335		7,316		7,644		21,868		21,547
Net income available to common shareholders, as adjusted (non-GAAP)	$	199,031	$	165,530	$	156,444	$	526,234	$	383,022
__________
(a) Merger related expenses primarily include professional and legal fees and other expense.
(b) Represents severance expense related to workforce reductions within salary and employee benefits expense.
(c) Represents the change in legal reserves and settlement charges included in professional and legal fees.
(d) Represents recoveries from legal settlements included in other income.
(e) Included in gains on securities transactions, net.
(f) Represents the change in estimated special assessment losses included in the FDIC insurance assessment expense.
(g) Calculated using the appropriate blended statutory tax rate for the applicable period.
Adjusted per common share data (non-GAAP):
Net income available to common shareholders, as adjusted (non-GAAP)	$	199,031	$	165,530	$	156,444	$	526,234	$	383,022
Weighted average number of shares outstanding	552,358,147		553,740,562		560,504,275		553,946,293		560,154,649
Basic earnings, as adjusted (non-GAAP)	$	0.36	$	0.30	$	0.28	$	0.95	$	0.68
Weighted average number of diluted shares outstanding	556,266,986		556,958,049		563,636,933		557,405,979		563,905,535
Diluted earnings, as adjusted (non-GAAP)	$	0.36	$	0.30	$	0.28	$	0.94	$	0.68