Valley National Bancorp(VLY) - 2023 Q3 - Earnings Call Presentation

Financial Performance - Net income was $141.3 million[4], with a return on average assets of 0.92%[4] - Non-GAAP adjusted net income was $136.4 million[4] - Pre-provision net revenue was $203.9 million[4], or 1.33% of average assets[4] - The efficiency ratio (Non-GAAP) was 56.7%[4] Deposits and Liquidity - Total deposits remained stable at $49.9 billion as of September 30, 2023[7, 11] - Traditional branch deposits accounted for 63% ($31.3 billion) of total deposits[11] - Specialized deposits represented 17% ($8.7 billion) of total deposits[11] - Fully FDIC-insured indirect customer deposits made up 20% ($9.9 billion) of total deposits[11] - High-quality available liquidity stood at 2.2x of adjusted uninsured deposits[11] Loans and Asset Quality - Gross loans reached $50.1 billion as of September 30, 2023[19] - New loan originations totaled $1.8 billion[19] - The average portfolio yield was 6.03%[19] - Allowance for credit losses for loans was 0.92% of total loans[45]