Valley National Bancorp(VLY) - 2021 Q2 - Earnings Call Presentation

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]