Valley National (VLY) Reports In-Line Q3 EPS
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Valley National Bancorp Reports Increase In Third Quarter Net Income, And Subsequent Prepayment Of High Cost Borrowings
October 28, 2015 6:59 AM EDTWAYNE, N.J., Oct. 28, 2015 /PRNewswire/ -- Valley National Bancorp (NYSE: VLY), the holding company for Valley National Bank, today reported net income for the third quarter of 2015 of $36.0 million, or $0.15 per diluted common share as compared to net income of $32.0 million, or $0.14 per diluted common share, for the second quarter of 2015 and the third quarter of 2014 earnings of $27.7 million, or $0.14 per diluted common share. Additionally, Valley reported that it prepaid $795 million of high cost borrowings in October 2015. See more details under the "Borrowings Strategy" section below.
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