3 Q 2 3 E a r n i n g s P r e s e n t a t i o n > O c t o b e r 2 6 , 2 0 2 3 Forward Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management's confidence and strategies and management's expectations about our business, new and existing programs and products, acquisitions, relationships, opportunities, taxation, technology, market cond ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended June 30, 2023 OR ☐ Transition Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 1-11277 Valley National Bancorp (Exact name of registrant as specified in its charter) New Jersey 22-2477875 (State or other jurisdic ...

Valley National Bancorp (NASDAQ:VLY) Q2 2023 Earnings Conference Call July 27, 2023 11:00 AM ET Company Participants Travis Lan - Head, IR Ira Robbins - Chairman & CEO Thomas Iadanza - President & Chief Banking Officer Michael Hagedorn - Senior EVP & CFO Mark Saeger - EVP & Chief Credit Officer Conference Call Participants Michael Perito - KBW Matthew Breese - Stephens Inc. Stephen Moss - Raymond James & Associates Manan Gosalia - Morgan Stanley Jon Arfstrom - RBC Capital Markets Steven Alexopoulos - JPMorg ...

PART I - FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents Valley National Bancorp's unaudited consolidated financial statements for the quarter ended March 31, 2023, including the statements of financial condition, income, comprehensive income, changes in shareholders' equity, and cash flows, along with detailed notes explaining the basis of presentation, significant accounting policies, and specific financial instrument details [Consolidated Statements of Financial Condition](index=3&type=section&id=Consolidated%20Statements%20of%20Financial%20Condition) Consolidated Statements of Financial Condition (in thousands) | Item | March 31, 2023 | December 31, 2022 | | :-------------------------------- | :------------- | :---------------- | | **Assets** | | | | Total Assets | $64,309,573 | $57,462,749 | | Interest bearing deposits with banks | $5,260,998 | $503,622 | | Net loans | $48,223,068 | $46,458,545 | | **Liabilities** | | | | Total Liabilities | $57,797,992 | $51,061,947 | | Total deposits | $47,590,916 | $47,636,914 | | Short-term borrowings | $6,413,056 | $138,729 | | Long-term borrowings | $2,197,656 | $1,543,058 | | **Shareholders' Equity** | | | | Total Shareholders' Equity | $6,511,581 | $6,400,802 | - Total Assets **increased by $6.8 billion (11.9%)** from December 31, 2022, to March 31, 2023, primarily driven by a significant increase in interest-bearing deposits with banks and net loans[10](index=10&type=chunk) - Short-term borrowings saw a substantial increase from **$138.7 million to $6.4 billion**, reflecting increased liquidity measures[10](index=10&type=chunk) [Consolidated Statements of Income](index=5&type=section&id=Consolidated%20Statements%20of%20Income) Consolidated Statements of Income (in thousands, except per share data) | Item | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :------------------------------------------ | :-------------------------------- | :-------------------------------- | | Total interest income | $720,230 | $340,458 | | Total interest expense | $284,210 | $22,789 | | Net Interest Income | $436,020 | $317,669 | | Provision for credit losses for available for sale and held to maturity securities | $4,987 | $57 | | Provision for credit losses for loans | $9,450 | $3,500 | | Total non-interest income | $54,299 | $39,270 | | Total non-interest expense | $272,166 | $197,340 | | Net Income | $146,551 | $116,728 | | Net Income Available to Common Shareholders | $142,677 | $113,556 | | Basic Earnings Per Common Share | $0.28 | $0.27 | | Diluted Earnings Per Common Share | $0.28 | $0.27 | - Net income **increased by $29.8 million (25.5%)** year-over-year, primarily driven by a significant increase in net interest income[12](index=12&type=chunk) - Total interest income more than doubled, **increasing by $379.8 million**, while total interest expense **increased substantially by $261.4 million**, reflecting the rising interest rate environment[12](index=12&type=chunk) [Consolidated Statements of Comprehensive Income](index=7&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) Consolidated Statements of Comprehensive Income (in thousands) | Item | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :------------------------------------------ | :-------------------------------- | :-------------------------------- | | Net income | $146,551 | $116,728 | | Other comprehensive income (loss), net of tax | $20,355 | $(38,166) | | Total comprehensive income | $166,906 | $78,562 | - Total comprehensive income significantly increased from **$78.6 million in Q1 2022 to $166.9 million in Q1 2023**, largely due to a positive shift in other comprehensive income from a **loss of $38.2 million to a gain of $20.4 million**[13](index=13&type=chunk) [Consolidated Statements of Changes in Shareholders' Equity](index=8&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Shareholders'%20Equity) Consolidated Statements of Changes in Shareholders' Equity (in thousands) | Item | Balance - December 31, 2022 | Balance - March 31, 2023 | | :------------------------------------------ | :-------------------------- | :----------------------- | | Total Shareholders' Equity | $6,400,802 | $6,511,581 | | Net income | — | $146,551 | | Other comprehensive income, net of tax | — | $20,355 | | Cash dividends declared (Preferred & Common) | — | $(60,362) | | Effect of stock incentive plan, net | — | $(505) | | Common stock issued | — | $3,750 | - Total Shareholders' Equity **increased by $110.8 million** from December 31, 2022, to March 31, 2023, primarily driven by net income and other comprehensive income, partially offset by cash dividends[15](index=15&type=chunk) [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Consolidated Statements of Cash Flows (in thousands) | Cash Flow Activity | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :------------------------------------------ | :-------------------------------- | :-------------------------------- | | Net cash (used in) provided by operating activities | $(269,682) | $496,003 | | Net cash used in investing activities | $(1,784,558) | $(1,585,293) | | Net cash provided by (used in) financing activities | $6,811,981 | $(229,710) | | Net change in cash and cash equivalents | $4,757,741 | $(1,319,000) | | Cash and cash equivalents at end of period | $5,705,688 | $730,920 | - A significant shift occurred in cash flows from financing activities, moving from a net use of **$229.7 million in Q1 2022 to a net provision of $6.8 billion in Q1 2023**, primarily due to a large increase in short-term borrowings[20](index=20&type=chunk) - Net cash used in operating activities was **$(269.7) million in Q1 2023**, a substantial decrease from **$496.0 million** provided in Q1 2022[18](index=18&type=chunk) [Notes to Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) [Note 1. Basis of Presentation](index=11&type=section&id=Note%201.%20Basis%20of%20Presentation) - The unaudited consolidated financial statements conform to U.S. GAAP and include Valley National Bank and all controlled entities, with inter-company transactions eliminated[23](index=23&type=chunk) - Management's estimates, particularly for allowance for credit losses, goodwill, other intangible assets, and income taxes, are susceptible to change and reviewed periodically[26](index=26&type=chunk) [Note 2. Business Combinations](index=11&type=section&id=Note%202.%20Business%20Combinations) - On April 1, 2022, Valley completed the acquisition of Bank Leumi Le-Israel Corporation (Bank Leumi USA) for **$1.2 billion**, issuing approximately **85 million common shares** and paying **$113.4 million in cash**[27](index=27&type=chunk) Bank Leumi USA Acquisition: Assets Acquired and Liabilities Assumed (in thousands) | Item | April 1, 2022 | | :-------------------------------- | :------------ | | Total assets acquired | $8,562,013 | | Total liabilities assumed | $7,330,743 | | Common stock issued in acquisition | $1,117,829 | | Cash paid in acquisition | $113,441 | - Merger expenses totaled **$4.1 million** and **$4.4 million** for the three months ended March 31, 2023 and 2022, respectively[28](index=28&type=chunk) [Note 3. Earnings Per Common Share](index=13&type=section&id=Note%203.%20Earnings%20Per%20Common%20Share) Earnings Per Common Share (in thousands, except per share data) | Item | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :------------------------------------------ | :-------------------------------- | :-------------------------------- | | Net income available to common shareholders | $142,677 | $113,556 | | Basic weighted average number of common shares outstanding | 507,111,295 | 421,573,84

Valley National Bancorp (NASDAQ:VLY) Q1 2023 Earnings Conference Call April 27, 2023 11:00 AM ET Company Participants Travis Lan - Head of Investor Relations Ira Robbins - Chairman and Chief Executive Officer Tom Iadanza - President Mike Hagedorn - Chief Financial Officer Conference Call Participants Steve Moss - Raymond James Frank Schiraldi - Piper Sandler David Bishop - Hovde Group Manan Gosalia - Morgan Stanley Tim Switzer - KBW Matthew Breese - Stephens Jon Arfstrom - RBC Capital Markets Operator Good ...

1 Q 2 3 E a r n i n g s P r e s e n t a t i o n > A p r i l 2 7 , 2 0 2 3 Forward Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management's confidence and strategies and management's expectations about our business, new and existing programs and products, acquisitions, relationships, opportunities, taxation, technology, market conditio ...

Financial Overview - As of December 31, 2022, Valley National Bancorp had consolidated total assets of $57.5 billion, total net loans of $46.5 billion, total deposits of $47.6 billion, and total shareholders' equity of $6.4 billion[12]. - As of December 31, 2022, the total investment securities and interest-bearing deposits with banks amounted to $5.2 billion and $503.6 million, respectively[30]. - The total loan portfolio as of December 31, 2022, was $46.9 billion, with commercial real estate loans accounting for 62.7% of the total[33]. Loan Portfolio Composition - Commercial and industrial loans totaled approximately $8.8 billion, representing 18.8% of the total loan portfolio at December 31, 2022, with $2.4 billion acquired from Bank Leumi USA during 2022[23]. - Commercial real estate and construction loans amounted to $29.4 billion, accounting for 62.7% of the total loan portfolio at December 31, 2022, including $3.1 billion acquired from Bank Leumi USA[25]. - Residential mortgage loans totaled $5.4 billion, representing 11.4% of the total loan portfolio at December 31, 2022[27]. - Other consumer loans reached $3.3 billion, making up 7.1% of the total loan portfolio at December 31, 2022[28]. - At December 31, 2022, approximately 75% of Valley's gross loans, totaling $46.9 billion, consisted of commercial real estate, residential mortgage, and home equity loans[31]. - The loan portfolio by state shows New York at 32%, Florida at 26%, and New Jersey at 23% of total loans[33]. Acquisitions - Valley National Bancorp completed the acquisition of Bank Leumi Le-Israel Corporation on April 1, 2022, valued at $1.2 billion, issuing approximately 85 million shares and paying $113.4 million in cash[17]. - The acquisition of The Westchester Bank Holding Corporation was completed on December 1, 2021, with total consideration of $211.1 million, consisting of approximately 15.7 million shares of Valley common stock[19]. Credit Risk Management - Valley's credit risk management policies are designed to minimize credit risk while maximizing income, with significant oversight from the Credit Risk Management Division[40]. - The company conducts internal stress tests of its capital position, including climate-related scenarios, to assess risk management effectiveness[36]. - Loans are placed on non-accrual status when they become 90 days past due, with no additional funds advanced on such loans[51]. - The company prohibits the origination of payment option adjustable residential mortgages and subprime loans, adhering to strict underwriting practices[41]. - Concessions for troubled debt restructured loans (TDRs) typically involve extending loan terms or lowering monthly payments without principal forgiveness[50]. - The allowance for credit losses (ACL) includes an estimated lifetime expected credit loss for pools of loans, with management's ongoing quarterly assessments determining the ACL amount[52]. - 2.7% of commercial loans and residential mortgage loans originated by third parties were past due 30 days or more, representing 9.5% and 28.2% of total delinquencies in their respective portfolios[55]. Employee and Corporate Governance - Valley employed 3,826 full and part-time employees as of December 31, 2022, with a voluntary turnover rate of 22% and an average tenure of 7.8 years[63]. - The company established the Environmental, Social and Governance (ESG) Council in 2020 to address social and environmental responsibilities, issuing its first ESG report in 2021[70]. - Valley continues to review pricing, products, locations, and acquisition prospects to enhance its competitive position[60]. Regulatory Compliance - Valley National Bank's capital ratios were all above the minimum levels required for it to be considered a "well capitalized" financial institution at December 31, 2022[85]. - Under Basel III, Valley and Valley National Bank are required to maintain a CET1 ratio of at least 7.0%, Tier 1 capital ratio of at least 8.5%, and total capital ratio of at least 10.5%[82]. - Valley National Bank is subject to regulatory limitations on dividend payments, which can only be declared up to the sum of net profits for the current year and retained net profits for the preceding two years[95]. - Valley National Bank must comply with Community Reinvestment Act obligations to maintain its status as a financial holding company[79]. - The Volcker Rule prohibits Valley National Bank from engaging in certain proprietary trading and investing in certain types of funds[92]. - Valley National Bank is supervised by the Consumer Financial Protection Bureau (CFPB) due to having over $10 billion in assets, focusing on consumer protection and compliance with federal financial laws[105]. Market Position and Competition - Valley ranked 16th in competitive ranking and market share based on deposits reported by 162 FDIC-insured financial institutions in key markets as of June 30, 2022[57]. - The company faces significant competition from various financial service providers, including fintech companies, which may have fewer regulatory constraints and greater resources[58]. Insurance and Securities Compliance - The bank's insurance agency subsidiary provides various insurance services, including property and casualty insurance, and is subject to state regulatory requirements[126]. - Valley's broker-dealer subsidiaries must comply with the SEC's financial stability rules, including maintaining minimum net capital requirements[121]. - The bank's broker-dealer subsidiaries operate under SEC Rule 15c3-3(k)(2)(i) & (ii), ensuring customer protection by not holding customer funds directly[119]. - The SEC and other regulatory organizations impose rules that require notification when net capital falls below certain thresholds, impacting business expansion[122]. - Valley's insurance agency subsidiaries monitor compliance with various state insurance regulators and maintain relationships with third-party vendors for regulatory awareness[126].

Valley National Bancorp (NASDAQ:VLY) Q4 2022 Earnings Conference Call January 26, 2023 11:00 AM ET Company Participants Travis Lan - Head, IR Ira Robbins - CEO Tom Iadanza - President Mike Hagedorn - CFO Conference Call Participants Michael Perito - KBW Steve Moss - Raymond James Jon Arfstrom - RBC Capital Markets Steven Alexopoulos - JPMorgan Manan Gosalia - Morgan Stanley Matthew Breese - Stephens Frank Schiraldi - Piper Sandler Travis Lan Good morning, and welcome to Valley's Fourth Quarter 2022 Earnings ...

4 Q 2 2 E a r n i n g s P r e s e n t a t i o n > J a n u a r y 2 6 , 2 0 2 3 Forward Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management's confidence and strategies and management's expectations about our business, new and existing programs and products, acquisitions, relationships, opportunities, taxation, technology, market cond ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended September 30, 2022 OR ☐ Transition Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 1-11277 Valley National Bancorp (Exact name of registrant as specified in its charter) New Jersey 22-2477875 (State or other jur ...