Valley National Bancorp Income Statement

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Income Statement Dec2009 Dec2010 Dec2011 Dec2012 Dec2013 Dec2014 Dec2015 Dec2016 Dec2017 Dec2018 Dec2019 Dec2020 Dec2021 Dec2022 Dec2023 Dec2024
Revenue & Cost
Provisions 47.99M49.46M53.34M25.64M16.09M3.44M8.10M11.87M9.94M32.50M25.81M125.72M32.90M56.82M50.76M314.38M
Revenue 521.57M554.08M587.11M610.83M576.37M552.37M634.07M20.88M21.53M26.82M23.64M18.26M21.42M36.93M44.16M62.62M
Interest income
Interest income - Loans 561.25M543.01M547.37M581.70M537.30M552.82M633.20M680.88M734.47M1,033.99M1,198.91M1,284.71M1,257.39M1,828.48M2,886.93M3,079.86M
Interest income - Investments 8.51M7.43M6.66M7.11M6.24M6.27M6.56M6.21M9.81M13.21M12.02M11.64M7.36M11.47M24.14M24.96M
Interest Income - Debt Securities 131.79M115.59M108.13M68.70M57.39M62.46M55.11M58.14M72.68M87.31M86.93M70.25M56.03M105.72M130.71M181.94M
Interest Income - Fed Funds 0.94M0.42M0.40M0.54M0.74M0.37M0.65M1.13M1.79M3.24M5.72M2.56M1.74M13.06M76.81M51.48M
Interest Income - Trading Account Assets 3.80M2.60M2.10M1.80M1.80M1.20M0.21M
Other interest income 0.44M0.83M0.22M0.92M1.48M0.44M0.21M0.03M0.14M0.04M0.05M0.02M0.02M0.08M5.73M7.36M
Interest Income - Total 712.18M676.81M673.82M671.19M616.10M636.60M707.02M761.89M834.15M1,159.25M1,321.00M1,383.72M1,334.23M1,976.68M3,138.89M3,357.50M
Interest expenses
Interest Expense - Deposits 93.40M55.80M48.29M37.47M29.93M27.88M35.43M39.79M55.30M108.39M166.69M106.07M42.88M186.71M739.02M913.96M
Interest Expense - Debt 140.55M137.79M129.69M122.37M120.00M113.32M95.58M59.19M58.23M65.76M63.22M71.21M50.98M47.19M103.77M147.81M
Interest Expense - Fed Funds 28.90M28.30M25.00M24.60M24.30M24.20M17.10M
Interest Expenses 262.87M214.06M199.01M181.31M168.38M161.85M156.75M148.77M174.11M302.05M422.95M264.81M124.33M321.04M1,473.41M1,728.79M
Interest Income - Net 449.31M462.75M474.81M489.88M447.72M474.76M550.27M613.11M660.05M857.20M898.05M1,118.90M1,209.90M1,655.64M1,665.48M1,628.71M
Non-interest income
Interest Income - Total 401.32M413.30M421.48M464.33M431.62M472.87M542.17M601.25M650.11M824.70M873.83M993.18M1,177.27M1,598.82M1,615.29M1,319.88M
Financial Services Fees 10.22M11.33M15.63M15.49M15.91M16.85M17.23M19.11M18.16M15.21M10.41M10.35M11.65M11.97M11.12M12.79M
Service Charges 26.78M25.69M22.61M24.75M24.11M22.77M21.18M20.88M21.53M
Investment Gain (Loss) 8.01M11.60M32.07M2.59M14.68M0.74M2.49M0.78M-0.02M-2.34M-0.15M0.52M1.76M-1.23M1.10M0.10M
Investment Banking Income 8.94M12.59M10.70M47.00M33.70M1.73M4.25M22.03M20.81M20.52M18.91M42.25M26.67M6.42M6.05M-5.84M
Income - Trust 6.91M7.67M7.52M7.69M8.61M9.51M10.02M10.35M11.54M
Trading Income -10.43M-6.90M2.27M2.79M0.91M-0.03M
Other Non-Interest Income 20.13M16.02M15.92M21.97M16.77M15.30M16.87M21.99M25.06M45.61M55.63M22.79M33.70M45.42M4.20M1.20M
Non-Interest Income 72.25M91.33M112.30M120.95M128.65M77.62M83.80M108.26M111.71M134.05M214.52M183.03M155.01M206.79M225.73M224.50M
Operating Items
Amortization - Intangibles 9.68M10.37M11.27M13.16M14.43M14.68M14.57M15.54M15.40M21.50M18.08M24.64M21.83M37.83M39.77M35.05M
Research & Development 6.84M6.99M8.26M10.02M9.92M12.10M9.88M10.74M11.41M
Wages, Salaries and Other 163.75M176.11M176.31M199.97M194.41M193.49M221.76M243.22M263.34M333.82M327.43M333.22M375.87M526.74M563.59M558.60M
Rent Expense 58.97M63.77M66.33M71.25M71.63M74.49M90.52M87.14M92.24M108.76M118.19M81.54M79.36M94.35M101.47M102.12M
Other Operating Expenses 247.05M255.92M272.22M303.65M302.86M321.77M400.30M378.96M406.91M-2.40M78.33M-1.89M0.90M0.90M6.81M3.73M
Operating Expenses 306.03M319.69M338.56M374.90M381.34M403.25M499.07M476.12M509.07M629.06M631.55M646.15M691.54M1,024.95M1,162.69M1,105.86M
Operating Income 58.64M64.73M68.33M73.63M62.63M
EBIT 58.64M64.73M68.33M73.63M62.63M309.08M283.65M382.15M426.85M631.74M879.75M794.88M765.06M1,101.71M2,151.74M2,167.31M
Non-operating items
Other Non Operating Income -10.13M-51.13M-0.32M-32.00M-12.04M-8.41M
Net income details
EBT 167.54M184.94M195.22M210.38M178.94M147.23M126.89M233.38M252.74M329.69M456.80M530.07M640.74M780.67M678.33M438.52M
Tax Provisions 51.48M54.93M78.82M66.75M46.98M31.06M23.94M65.23M90.83M68.27M147.00M139.46M166.90M211.82M179.82M58.25M
Profit After Tax 116.06M130.01M132.51M143.63M131.96M116.17M102.96M168.15M161.91M261.43M309.79M390.61M473.84M568.85M498.51M380.27M
Income from Continuing Operations 116.06M130.01M116.40M143.63M131.96M116.17M102.96M168.15M161.91M261.43M309.79M390.61M473.84M568.85M498.51M380.27M
Consolidated Net Income 116.06M130.01M116.40M143.63M131.96M116.17M102.96M168.15M161.91M261.43M309.79M390.61M473.84M568.85M498.51M380.27M
Income towards Parent Company 116.06M130.01M116.40M143.63M131.96M116.17M102.96M168.15M161.91M261.43M309.79M390.61M473.84M568.85M498.51M380.27M
Preferred Dividend Payments 19.52M3.81M7.19M9.45M12.69M12.69M12.69M12.69M13.15M16.14M21.37M
Net Income towards Common Stockholders 96.54M131.17M133.65M143.63M131.96M116.17M99.14M160.96M152.46M248.74M297.11M377.92M461.15M555.71M482.38M358.90M
Additional items
EPS (Basic) 0.610.730.740.730.660.560.420.630.580.750.880.941.131.140.950.70
EPS (Weighted Average and Diluted) 0.610.730.740.730.660.560.420.630.580.750.870.931.121.140.950.69
Shares Outstanding (Weighted Average) 177.28M178.15M178.72M199.05M199.63M254.53M264.37M331.49M331.80M403.88M406.95M506.36M507.68M509.37M
Shares Outstanding (Diluted Average) 255.27M264.89M332.69M340.12M405.05M410.02M487.82M
Tax Rate 30.73%29.70%40.37%31.73%26.25%21.10%18.86%27.95%35.94%20.71%32.18%26.31%26.05%27.13%26.51%13.28%