Valley National (VLY) Misses Q1 EPS by 1c

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Valley National Bancorp Reports A 19 Percent Increase In First Quarter Net Income, Full Integration Of Its Recent Bank Acquisition And Solid Asset Quality

April 27, 2016 8:00 AM EDT

WAYNE, N.J., April 27, 2016 /PRNewswire/ -- Valley National Bancorp (NYSE: VLY), the holding company for Valley National Bank, today reported net income for the first quarter of 2016 of $36.2 million, or $0.14 per diluted common share as compared to the first quarter of 2015 earnings of $30.3 million, or $0.13 per diluted common share and net income of $4.7 million, or $0.01 per diluted common share, for the fourth quarter of 2015.  The fourth quarter of 2015 included a pre-tax loss of $51.1 million on the extinguishment of higher cost debt, as well as other infrequent items. 

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