Quarterly ResultJul 23, 2026, 07:03 AM
Valley National Bancorp Q2 Net Income $170.9M, EPS $0.29
AI Summary
Valley National Bancorp reported strong second-quarter 2026 financial results, with net income reaching $170.9 million, or $0.29 per diluted common share, and adjusted net income of $172.8 million, or $0.30 per diluted common share. CEO Ira Robbins highlighted continued execution of strategic vision, leading to strong non-interest bearing deposit and C&I loan growth despite competition. The company also saw improvements in net interest margin, overall deposit and loan growth, and operational efficiency, with an expectation of further financial improvement through the remainder of the year.
Key Highlights
- Net income for Q2 2026 was $170.9 million, or $0.29 per diluted common share.
- Adjusted net income for Q2 2026 was $172.8 million, or $0.30 per diluted common share.
- Net interest margin (FTE) increased to 3.20% in Q2 2026, up 3 bps QoQ and 19 bps YoY.
- Total deposits increased by $1.3 billion to $54.1 billion at June 30, 2026.
- Total loans increased by $1.6 billion, or 12.9% annualized, to $52.5 billion.
- Efficiency ratio improved to 52.11% for Q2 2026 from 53.10% in Q1 2026.
- The company repurchased 1.5 million shares of common stock at an average price of $13.40.
- Provision for credit losses for loans was $29.2 million in Q2 2026, up from $21.2 million QoQ.
Price Impact
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