Valley National Bancorp (NASDAQ:VLY) Q4 2021 Results Conference Call January 27, 2022 11:00 AM ET Company Participants Travis Lan - Head of Investor Relations Ira Robbins - President and CEO Mike Hagedorn - Chief Financial Officer Tom Iadanza - Chief Banking Officer Conference Call Participants Michael Perito - KBW Steven Alexopoulos - JPMorgan Operator Good day, and thank you for standing by. Welcome to the Fourth Quarter 2021 Valley National Bancorp Earnings Conference Call. [Operator Instructions] I woul ...

Financial Performance - Net income for the third quarter 2021 was $122.6 million, or $0.29 per diluted common share, compared to $102.4 million, or $0.25 per diluted common share, for the same quarter in 2020, representing a 19.7% increase in net income [180]. - Adjusted net income for Q3 2021 was $124.7 million, compared to $104.2 million in Q3 2020 [195]. - Net interest income for the nine months ended September 30, 2021 was $894.6 million, compared to $830.984 million for the same period in 2020 [207]. - Net interest income increased by $17.6 million (approximately 15.5%) for the three months ended September 30, 2021, compared to the same period in 2020, and by $63.1 million (approximately 7.6%) for the nine months ended September 30, 2021 [211]. - Non-interest income decreased by $6.8 million (approximately 13.8%) for the three months ended September 30, 2021, and by $18.7 million (approximately 13.8%) for the nine months ended September 30, 2021, compared to the same periods in 2020 [214]. Asset and Loan Portfolio - As of September 30, 2021, Valley National Bancorp had total assets of approximately $41.3 billion, total net loans of $32.3 billion, total deposits of $33.6 billion, and total shareholders' equity of $4.8 billion [172]. - Total loans increased by $149.4 million to $32.6 billion as of September 30, 2021, despite a $476.7 million decrease in PPP loans [186]. - Non-PPP loan portfolio rose by $626.0 million, or 8.0% on an annualized basis, reaching $31.7 billion [186]. - Commercial real estate loans increased by $399.9 million, or 9.1% on an annualized basis, reaching $17.9 billion as of September 30, 2021, driven by strong demand for non-owner occupied loans [292]. - Residential mortgage loans rose by $105.4 million, or 10.0% on an annualized basis, with total origination of new and refinanced loans at $622.1 million for Q3 2021 [293]. Deposits and Funding - Average deposits grew by $876.6 million to $33.6 billion, with non-interest bearing deposits at approximately 32% of total deposits [190]. - Actual ending balances for deposits increased by $437.8 million to approximately $33.6 billion, driven by increases in non-maturity interest bearing and non-interest bearing deposits [191]. - Total brokered deposits decreased by approximately $315 million to $1.7 billion as of September 30, 2021 [191]. - Average core deposits totaled approximately $29.2 billion for the nine months ended September 30, 2021, representing 77.6% of average earning assets [274]. Credit Quality and Loan Losses - Non-accrual loans increased by $31.8 million to $251.8 million, representing 0.77% of total loans [188]. - The allowance for loan losses as a percentage of non-accrual loans was 136.01% at September 30, 2021 [315]. - The provision for loan losses for the consumer lending segment decreased by $21.8 million to a credit provision of $6.5 million for the nine months ended September 30, 2021 [251]. - Net loan charge-offs for Q3 2021 totaled $293 thousand, significantly down from $9.4 million in Q2 2021 and $15.4 million in Q3 2020 [324]. Acquisitions and Growth Strategy - Valley extended a total of $3.2 billion in Paycheck Protection Program (PPP) loans, with $2.3 billion of these loans receiving forgiveness from the SBA as of September 30, 2021 [178]. - The company announced the acquisition of The Westchester Bank Holding Corporation, with Westchester having total assets of $1.3 billion and expected to close on December 1, 2021 [173]. - Valley is set to acquire Bank Leumi Le-Israel Corporation, which has total assets of $8.4 billion, with the acquisition expected to close in the first half of 2022 [175]. - Valley acquired Dudley Ventures for $11.3 million in cash and $3.8 million in future stock consideration, aimed at enhancing non-interest income sources [176]. Interest Rates and Economic Environment - The Federal Reserve maintained the federal funds rate between 0.00% and 0.25% to support economic recovery, with indications of a potential moderation in asset purchases [183]. - The 10-year U.S. Treasury note yield ended the third quarter at 1.52%, reflecting a 7 basis points increase from June 30, 2021 [184]. - The company expects moderate ongoing interest rate pressures on net interest margin for Q4 2021 and beyond due to low market rates [202]. Operational Efficiency - The efficiency ratio for the three months ended September 30, 2021, was 50.93%, compared to 48.20% for the same period in 2020, indicating a decline in operational efficiency [227]. - Non-interest expense increased by $14.7 million (approximately 9.2%) for the three months ended September 30, 2021, and by $34.0 million (approximately 7.2%) for the nine months ended September 30, 2021, compared to the same periods in 2020 [219]. Shareholder Equity and Capital Ratios - Shareholders' equity increased to approximately $4.8 billion as of September 30, 2021, up from $4.6 billion at the end of 2020, representing 11.7% of total assets [328]. - The company exceeded all regulatory capital requirements, maintaining a common equity Tier 1 capital to risk-weighted assets ratio of 4.5% [330]. - Valley's total risk-based capital as of December 31, 2020, was $3,802,223, with a ratio of 12.64% [333].

Valley National Bancorp (NASDAQ:VLY) Q3 2021 Earnings Conference Call October 28, 2021 11:00 AM ET Company Participants Travis Lan - Head of Investor Relations Ira Robbins - President and CEO Mike Hagedorn - Chief Financial Officer Tom Iadanza - Chief Banking Officer Conference Call Participants Steven Alexopoulos - JP Morgan Michael Perito - KBW Steven Duong - RBC Capital Markets Ken Zerbe - Morgan Stanley Matthew Breese - Stephens, Inc. David Chiaverini - Wedbush Securities Operator Good day, and thank yo ...

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, 2021 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 2021 Earnings Conference Call July 22, 2021 11:00 AM ET Company Participants Travis Lan - Head of Investor Relations Ira Robbins - President and Chief Executive Officer Michael Hagedorn - Senior Executive Vice President and Chief Financial Officer Thomas Iadanza - Senior Executive Vice President and Chief Banking Officer Conference Call Participants Frank Schiraldi - Piper Sandler & Co. Steven Alexopoulos - JPMorgan Chase & Co. Michael Perito - Keefe, Bruyette, & Wood ...

Financial Highlights - Net income reached $120.5 million in 2Q21, compared to $95.6 million in 2Q20[6] - Adjusted net income was $126.6 million in 2Q21, up from $95.9 million in 2Q20[6] - The efficiency ratio was 50.0% in 2Q21, compared to 48.0% in 2Q20[6] - Pre-Provision Net Revenue (PPNR) was $172.1 million in 2Q21, slightly above $170.2 million in 2Q20[6] - Diluted earnings per share increased to $0.29 in 2Q21, compared to $0.23 in 2Q20[6] Westchester Bank Acquisition - The acquisition of The Westchester Bank Holding Corporation is expected to be approximately 1% EPS accretive[11] - Westchester Bank had total assets of $1.313 billion, gross loans of $910 million, and total deposits of $1.116 billion as of March 31, 2021[10] - Westchester Bank's net income was $16.1 million (annualized) for the most recent quarter ended March 31, 2021[10] Loans and Deposits - Total loans outstanding were $32.5 billion as of 2Q21[37] - Non-interest bearing deposits reached $10.5 billion in 2Q21[34] - Savings, NOW & MMA deposits totaled $18.4 billion in 2Q21[34] - Time deposits amounted to $4.3 billion in 2Q21[34]

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 March 31, 2021 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 jurisdi ...

Valley National Bancorp (NASDAQ:VLY) Q1 2021 Results Conference Call April 29, 2021 11:00 AM ET Company Participants Travis Lan - Head, IR Ira Robbins - President and CEO Mike Hagedorn - CFO Tom Iadanza - Chief Banking Officer Conference Call Participants Steven Alexopoulos - JP Morgan Frank Schiraldi - Piper Sandler Zach Westerlind - Stephens Ken Zerbe - Morgan Stanley David Chiaverini - Wedbush Securities Michael Perito - KBW Operator Welcome to the Valley National Bancorp First Quarter 2021, Earnings Con ...

1 Q 2 1 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 9 , 2 0 2 1 Forward Looking Statements The foregoing 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 new and existing programs and products, acquisitions, relationships, opportunities, taxation, technology, market conditions and economic ex ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 ☐ 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) (State or other jurisdiction of Incorporation or Orga ...