Valley National Bancorp(US:VLY) Globenewswireยท2025-10-23 11:00Core Viewpoint - Valley National Bancorp reported strong financial performance in Q3 2025, with net income of $163.4 million, reflecting a significant increase from both the previous quarter and the same quarter last year [1][2]. Financial Performance - Net income for Q3 2025 was $163.4 million, or $0.28 per diluted share, compared to $133.2 million ($0.22 per share) in Q2 2025 and $97.9 million ($0.18 per share) in Q3 2024 [1]. - Adjusted net income, excluding non-core items, was $164.1 million for Q3 2025, up from $134.4 million in Q2 2025 and $96.8 million in Q3 2024 [1]. Net Interest Income and Margin - Net interest income on a tax-equivalent basis increased to $447.5 million in Q3 2025, up $13.8 million from Q2 2025 and $35.7 million from Q3 2024 [3][4]. - The net interest margin improved to 3.05% in Q3 2025, a 4 basis point increase from 3.01% in Q2 2025 and a 19 basis point increase from 2.86% in Q3 2024 [5]. Deposits - Total deposits rose by $450.5 million to $51.2 billion as of September 30, 2025, primarily due to inflows from commercial and government deposits [3][9]. - Non-interest bearing deposits remained stable at approximately $11.7 billion [9]. Loan Portfolio - Total loans decreased by $118.6 million, or 1.0% on an annualized basis, to $49.3 billion as of September 30, 2025, driven by declines in commercial real estate and commercial and industrial loans [3][6]. - Residential mortgage loans increased by $85.4 million to $5.8 billion, while total consumer loans rose by $50.7 million to $4.0 billion [8]. Credit Quality - The allowance for credit losses for loans was $598.6 million, representing 1.21% of total loans as of September 30, 2025 [11][17]. - Net loan charge-offs totaled $14.6 million in Q3 2025, a decrease from $37.8 million in Q2 2025 and $42.9 million in Q3 2024 [11][17]. Capital Adequacy - Total risk-based capital ratio was 13.83% as of September 30, 2025, up from 13.67% at June 30, 2025 [18]. - The company repurchased 1.3 million shares of common stock at an average price of $9.38 during the third quarter [18].