Valley National (VLY) Tops Q2 EPS by 2c
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Valley National Bancorp Reports a 25 Percent Increase in Second Quarter 2020 Net Income and Strong Operational Efficiency
July 23, 2020 8:00 AM EDTNEW YORK, July 23, 2020 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY), the holding company for Valley National Bank, today reported net income for the second quarter 2020 of $95.6 million, or $0.23 per diluted common share, as compared to the second quarter 2019 earnings of $76.5 million, or $0.22 per diluted common share, and net income of $87.3 million, or $0.21 per diluted common share, for the first quarter 2020.
Key financial highlights for the second quarter:
Loan Portfolio: Loans increased $1.9 billion to $32.3 billion at June 30, 2020 from March 31, 2020. The increase was largely due to... More