Valley National (VLY) Reports In-Line Q1 EPS

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Go back to Valley National (VLY) Reports In-Line Q1 EPS

Valley National Bancorp Reports A 27 Percent Increase In First Quarter Net Income

April 26, 2017 8:01 AM EDT

WAYNE, N.J., April 26, 2017 /PRNewswire/ -- Valley National Bancorp (NYSE: VLY), the holding company for Valley National Bank, today reported net income for the first quarter of 2017 of $46.1 million, or $0.17 per diluted common share as compared to the first quarter of 2016 earnings of $36.2 million, or $0.14 per diluted common share and net income of $50.1 million, or $0.19 per diluted common share, for the fourth quarter of 2016. Net income for the fourth quarter of 2016 included $7.3 million in pre-tax gains realized on $170 million of seasoned 30-year fixed rate residential mortgage loans sold, as well as higher periodic loan fee... More