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Member News – Valley National Bank
January 26th, 2017

Valley National Bank

 

Valley National Bancorp (NYSE:VLY), the holding company for Valley National Bank, reported net income for the fourth quarter of 2016. The reported numbers were $50.1 million, or $0.19 per diluted common share, as compared to the fourth quarter of 2015 earnings of $4.7 million, or $0.01 per diluted common share, and net income of $42.8 million, or $0.16 per diluted common share, for the third quarter of 2016.

Net income for the year ended December 31, 2016 was $168.1 million, or $0.63 per diluted common share, compared to 2015 earnings of $103.0 million, or $0.42 per diluted common share. The earnings for both the fourth quarter of 2015 and the year ended December 31, 2015 included a pre-tax $51.1 million loss on the extinguishment of $845 million in high-cost debt.

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    The mission of Commerce and Industry Association is to be the leader in free enterprise advocacy for the purpose of fostering, through education, legislative vigilance and membership interaction, an economic climate that enhances business potential and makes New Jersey a better state in which to live, work and conduct business.

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