Today’s savings account rates still hover well above the national average. The Federal Reserve cut the federal funds rate three times in 2024, which means deposit account rates are also on the decline. It's more important than ever to ensure you're earning the highest rate possible on your savings, and a high-yield savings account could be the solution. These accounts pay more interest than the typical savings account — as much as 4% APY and higher in some cases. Not sure where to find the best savings in ...

Most retirement advice is geared to younger savers — but what if you're already in your 70s and still unsure if you're ready to stop working? Imagine Jake, 75, a part-time consultant who’s bringing in $10,000 a month from Social Security, renting two properties and has $500,000 parked in a 401(k) along with some certificates of deposit (CDs) and annuities. Must Read He may look secure on paper, but he feels uneasy about his future. He’s still juggling $7,000 worth of monthly expenses, including mortgage ...

Top-paying CDs are cast to draw in depositors Certificates of deposit (CDs) are products offered by banks, credit unions, and other financial institutions to draw in more depositors. Though it might seem odd to think of them this way, banks are businesses and earn revenue by lending money to borrowers at higher rates than they offer to depositors. Big, well-known banks don't often have a problem attracting depositors, since their size exudes assumed security. But lesser-known banks don't have a national bra ...

Core Insights - Valley National Bancorp reported strong earnings for Q2 2025, with both non-GAAP earnings and GAAP revenue exceeding Wall Street estimates, indicating steady momentum in its strategic initiatives [1][5] - The bank's focus on diversifying its lending portfolio away from commercial real estate (CRE) is a key strategic shift aimed at improving risk-adjusted returns [4][6] Financial Performance - Adjusted diluted EPS (non-GAAP) was $0.23, surpassing the expected $0.22, and up 76.9% from Q2 2024 [2][5] - GAAP revenue reached $495.0 million, exceeding estimates by $2.3 million and reflecting a 9.3% increase year-over-year [2][5] - Net interest income rose to $432.4 million, with a net interest margin of 3.01%, up from 2.83% in the previous year [2][5] Loan Portfolio and Growth - Commercial and industrial (C&I) loans grew by $719.8 million, reaching $10.87 billion, representing a 28.4% annualized growth rate [6] - Automobile loans increased by $137.6 million, while commercial real estate loans declined by $288.6 million, reducing their share of the loan portfolio to 58.4% [6][12] Deposits and Funding - Total deposits increased by $759.4 million to $50.7 billion, driven by growth in time deposits [7] - The deposit mix consisted of 23% non-interest bearing accounts, 52% savings and money market products, and 25% time deposits [7] Credit Quality and Risks - There was a notable increase in accruing past due loans, totaling $199.2 million, attributed mainly to three commercial real estate credits [8] - The allowance for credit losses remained steady at $594.0 million, or 1.20% of total loans, while non-accrual loans rose slightly to $354.4 million [8] Efficiency and Capital Position - The bank's efficiency ratio improved to 55.2%, indicating better operating expense efficiency [9] - Capital and regulatory ratios remained strong, even after an early redemption of subordinated notes [9] Strategic Focus and Future Outlook - Valley National Bancorp aims to further diversify its lending portfolio and maintain credit quality stability while managing funding costs [13] - The bank forecasts a net interest margin trend toward 3.05% for the year, with potential increases by Q4 [13]