Valley National (VLY) Posts Q4 EPS of 1c

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Go back to Valley National (VLY) Posts Q4 EPS of 1c

Valley National Bancorp Reports Higher Net Interest Income And Margin In Its Fourth Quarter Earnings, And Prepaid High Cost Borrowings And Branch "Right-Sizing" To Enhance Future Income

January 27, 2016 7:01 AM EST

WAYNE, N.J., Jan. 27, 2016 /PRNewswire/ -- Valley National Bancorp (NYSE: VLY), the holding company for Valley National Bank, today reported net income for the fourth quarter of 2015 of $4.7 million, or $0.01 per diluted common share as compared to the fourth quarter of 2014 earnings of $25.1 million, or $0.11 per diluted common share.  The 2015 fourth quarter earnings included several infrequent items highlighted in the section below, including a previously disclosed $51.1 million loss on the extinguishment of higher cost debt.

Net income for the year ended December 31, 2015 was $103.0 million, or $0.42 per diluted common share, compared to 2014... More