VALLEY NATIONAL BANCORP (NYSE:VLY) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02(b)
On January 22, 2019, Pamela Bronander informed the Company that she will not stand for re-election as a director at the Company’s 2019 Annual Meeting of Shareholders. On January 23, 2019, Gerald Korde informed the Company that he would not stand for re-election as a director at the Company’s 2019 Annual Meeting of Shareholders. Both Ms. Bronander and Mr. Korde served for more than 20 years as directors of the Company.
Each director’s decision not to stand for re-election was not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Their decisions arose in connection with the Nominating Committee’s review of Board refreshment.
About VALLEY NATIONAL BANCORP (NYSE:VLY)
Valley National Bancorp is the bank holding company for Valley National Bank (the Bank). The Bank provides a range of commercial, retail, insurance and wealth management financial services products. The Company’s segments include Consumer Lending; Commercial Lending; Investment Management, and Corporate and Other Adjustments. The consumer lending segment includes its residential mortgages, home equity loans and automobile loans. The commercial lending segment primarily includes floating rate and adjustable rate commercial and industrial loans, as well as fixed rate owner occupied and commercial real estate loans. The investment management segment includes the Company’s investments in various types of securities, its federal funds sold and interest-bearing deposits with banks (primarily the Federal Reserve Bank of New York). The Bank has over 230 branches serving northern and central New Jersey, the New York City boroughs of Manhattan, Brooklyn, Queens and Long Island, and Florida.
