Valley National (VLY) Misses Q3 EPS by 2c

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Valley National Bancorp Reports Increased Third Quarter Net Income and 15 Percent Annualized Loan Growth

October 25, 2018 8:00 AM EDT

WAYNE, N.J., Oct. 25, 2018 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY), the holding company for Valley National Bank, today reported net income for the third quarter of 2018 of $69.6 million, or $0.20 per diluted common share, as compared to the third quarter of 2017 earnings of $39.6 million, or $0.14 per diluted common share, and net income of $72.8 million, or $0.21 per diluted common share, for the second quarter of 2018.  Net income for third quarter of 2018 included infrequent charges of $4.8 million ($3.4 million after-tax) mainly related to the impairment of branches selected for closure, merger expenses related to the USAmeriBancorp, Inc. ("USAB")... More