Valley National Bancorp Reports a Higher Net Interest Margin Driving Its Fourth Quarter Net Income and the Prepayment of High Cost Borrowings

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Go back to Valley National Bancorp Reports a Higher Net Interest Margin Driving Its Fourth Quarter Net Income and the Prepayment of High Cost Borrowings

Valley National (VLY) Tops Q4 EPS by 1c

January 30, 2020 8:32 AM EST

Valley National (NASDAQ: VLY) reported Q4 EPS of $0.24, $0.01 better than the analyst estimate of $0.23.

Net income for the fourth quarter 2019 of $38.1 million, or $0.10 per diluted common share, as compared to the fourth quarter 2018 earnings of $77.1 million, or $0.22 per diluted common share, and net income of $81.9 million, or $0.24 per diluted common share, for the third quarter 2019. During the fourth quarter 2019, Valley incurred non-core after tax charges of $52.5 million mostly due to prepayment penalties... More