VALLEY NATIONAL BANCORP (NYSE:VLY) Files An 8-K Results of Operations and Financial Condition
On April 25, 2019, Valley National Bancorp (Valley) issued a press release reporting 2019 first quarter results of operations.
A copy of the press release is attached to this Current Report Form 8-K as Exhibit 99.1.
The information disclosed in this Item 2.02 shall be considered furnished but not filed for purposes of the Securities Exchange Act of 1934, as amended.
Valleys 2019 first quarter press release contains certain supplemental financial information, described in the Notes to Selected Financial Data included in Exhibit 99, which has been determined by methods other than U.S. Generally Accepted Accounting Principles (GAAP). Management internally reviews each of these non-GAAP financial measures to evaluate performance on a comparative period to period basis. Management believes these non-GAAP financial measures provide information useful to investors in understanding Valleys financial results, the impact of such non-GAAP financial measures on Valleys operating results and financial condition.
Valley is furnishing presentation materials included as Exhibit 99.2 to this report to Item 7.01 of Form 8-K. Valley is not undertaking to update this presentation. The information in this report (including Exhibit 99.2) is being furnished to Item 7.01 and shall not be deemed to be filed for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. This report will not be deemed an admission as to the materiality of any information herein (including Exhibit 99.2).
VALLEY NATIONAL BANCORP Exhibit
EX-99.1 2 exhibit991earningsrelease4.htm EXHIBIT 99.1 Exhibit EXHIBIT 99.1 News ReleaseFOR IMMEDIATE RELEASEContact: Alan D. Eskow Senior Executive Vice President and Chief Financial Officer 973-305-4003VALLEY NATIONAL BANCORP REPORTS INCREASED FIRST QUARTER NET INCOME,…
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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.
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