Strong third quarter results for Valley National Bancorp reflect robust operational momentum, achieving a net income of $163 million, significantly improving from previous quarters amid strategic deposit growth and controlled expenses.

• Net income rose 22.6% sequentially, reaching $163 million, resulting in an earnings per share of $0.28.
• Core customer deposits grew by nearly 10% over the past year, with the bank adding approximately $1 billion in deposits this quarter.
• Noninterest income increased at an annual rate of 15%, driven by successful treasury management and tax credit advisory initiatives.
• Credit performance remained resilient, with significant reductions in net charge-offs and provisions, underscoring robust underwriting practices.
• The introduction of new commercial and consumer banking leaders is expected to enhance customer acquisition and accelerate growth strategies.