Valley National Bancorp (VLY) financial statements (2020 and earlier)

Company profile

Business Address ONE PENN PLAZA
NEW YORK, NY 10119
State of Incorp. NJ
Fiscal Year End December 31
SIC 6021 - National Commercial Banks (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments476429416393414845369
Cash and cash equivalents435429416393414830369
Short-term investments41    14 
Total current assets:476429416393414845369
Noncurrent Assets
Finance lease, right-of-use asset1
Operating lease, right-of-use asset284
Property, plant and equipment335342288291299283270
Intangible assets, net (including goodwill)1,4601,162733736735615464
Goodwill1,3741,085691691686576428
Intangible assets, net (excluding goodwill)87774345493936
Total noncurrent assets:2,0801,5031,0211,0271,034898735
Other undisclosed assets34,88029,93122,56521,44520,16517,05215,053
TOTAL ASSETS:37,43631,86324,00222,86421,61318,79416,157
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt1,0932,1197491,0811,077147281
Total current liabilities:1,0932,1197491,0811,077147281
Noncurrent Liabilities
Long-term debt and lease obligation  136137131131122
Long-term debt, excluding current maturities  136137131131122
Total noncurrent liabilities:  136137131131122
Other undisclosed liabilities31,95926,39420,58519,27018,19816,65314,212
Total liabilities:33,05228,51321,46920,48719,40616,93114,616
Stockholders' equity
Stockholders' equity attributable to parent, including:4,3843,3502,5332,3772,2071,8631,541
Preferred stock   112112  
Common stock1411169392898170
Treasury stock, value(0)(2)(0)(2) (0)(0)
Additional paid in capital3,6222,7962,0602,0441,9271,6941,403
Accumulated other comprehensive loss(32)(69)(46)(42)(46)(42)(38)
Retained earnings444300217173125131106
Other undisclosed stockholders' equity attributable to parent210210210    
Total stockholders' equity:4,3843,3502,5332,3772,2071,8631,541
TOTAL LIABILITIES AND EQUITY:37,43631,86324,00222,86421,61318,79416,157

Income statement (P&L) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues1,3941,17189982476471011
Net investment income1,3151,156841766706636 
Financial services revenue5958587411
Cost of revenue(24)(33)(10)(12)(8)(2)(15)
Provision for loan, lease, and other losses(24)(33)
Financial services costs(10)(12)(8)(2)(15)
Gross profit:1,3691,139889812756709(4)
Operating expenses(146)(139)(367)(344)(330)(304)(211)
Other operating income, net
(Noninterest Income, Other Operating Income)
 431717161515
Operating income (loss):1,2231,043539485442420(199)
Nonoperating income897772123
Gain on contract termination     1111
Bank owned life insurance income8977766
Interest and debt expense(455)(302)(174)(149)(208)(172)(168)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(320)(420)(120)(109)(114)(122)524
Income from continuing operations before income taxes:457330253233127147179
Income tax expense(147)(68)(91)(65)(24)(31)(47)
Net income attributable to parent:310261162168103116132
Preferred stock dividends and other adjustments(13)(13)(9)(7)(4)  
Net income available to common stockholders, diluted:29724915216199116132

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:310261162168103116132
Other comprehensive income (loss)37(23)44(3)(4)13
Comprehensive income, net of tax, attributable to parent:347239166172100112145

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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