Valley National Bancorp Non-cum Perp Pfd Shs Series A Stock Earnings Reports

Valley reported strong Q3 2025 results: net income of ~$163M ($0.28/share), the highest quarterly profitability since end of 2022. Key drivers were robust core deposit growth (≈110,000 new accounts, ~10% core deposit growth year-over-year), a meaningful reduction in deposit costs (56 bps decline vs. Q3 2024 and additional quarter-to-date declines), improving NIM (sixth consecutive quarterly improvement; targeting >3.1% in Q4 2025) and continued fee income momentum (treasury management, tax credit advisory). Credit trends improved materially with lower provisions and net charge-offs; CRE cumulative losses have been modest relative to peers. Valley repurchased ~1.3M shares (~$12M) and remains well-capitalized (CET1 ~11%). Management introduced new commercial and consumer banking leaders (Gino Martocci and Patrick Smith) and is investing to grow upmarket C&I, business banking, healthcare C&I, small business and branch-driven retail deposits. Near-term outlook: NII expected to grow ~3% sequentially in Q4; pipeline of ~$3.3B supports loan growth; management is guiding to mid-single-digit loan growth (4–6%) for 2026, low-single-digit expense growth, continued margin expansion (~20 bps from Q4’25 to Q4’26 possible), and reaffirmed a 15% ROTCE target by late 2027/early 2028. Capital deployment priorities include continued buybacks alongside organic investment, given the current valuation and capital build potential.