Valley National Bancorp (VLY) financial statements (2021 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)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,359476429416393414845
Cash and cash equivalents1,329435429416393414830
Short-term investments2941    14
Total current assets:1,359476429416393414845
Noncurrent Assets
Finance lease, right-of-use asset11
Operating lease, right-of-use asset251284
Property, plant and equipment320335342288291299283
Intangible assets, net (including goodwill)1,4531,4601,162733736735615
Goodwill1,3821,3741,085691691686576
Intangible assets, net (excluding goodwill)70877743454939
Total noncurrent assets:2,0252,0801,5031,0211,0271,034898
Other undisclosed assets37,30334,88029,93122,56521,44520,16517,052
TOTAL ASSETS:40,68637,43631,86324,00222,86421,61318,794
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt1,1481,0932,1197491,0811,077147
Total current liabilities:1,1481,0932,1197491,0811,077147
Noncurrent Liabilities
Long-term debt and lease obligation113  136137131131
Long-term debt, excluding current maturities113  136137131131
Total noncurrent liabilities:113  136137131131
Other undisclosed liabilities34,83331,95926,39420,58519,27018,19816,653
Total liabilities:36,09433,05228,51321,46920,48719,40616,931
Stockholders' equity
Stockholders' equity attributable to parent, including:4,5924,3843,3502,5332,3772,2071,863
Preferred stock    112112 
Common stock14214111693928981
Treasury stock, value(0)(0)(2)(0)(2) (0)
Additional paid in capital3,6373,6222,7962,0602,0441,9271,694
Accumulated other comprehensive loss(8)(32)(69)(46)(42)(46)(42)
Retained earnings611444300217173125131
Other undisclosed stockholders' equity attributable to parent210210210210   
Total stockholders' equity:4,5924,3843,3502,5332,3772,2071,863
TOTAL LIABILITIES AND EQUITY:40,68637,43631,86324,00222,86421,61318,794

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues1,4311,3941,171899824764710
Net investment income1,3811,3151,156841766706636
Cost of revenue(124)(24)(33)(10)(12)(8)(2)
Provision for loan, lease, and other losses(124)(24)(33)
Financial services costs(10)(12)(8)(2)
Gross profit:1,3071,3691,139889812756709
Operating expenses(166)(146)(139)(367)(344)(330)(304)
Other operating income, net
(Noninterest Income, Other Operating Income)
  4317171615
Operating income:1,1411,2231,043539485442420
Nonoperating income108977721
Gain on contract termination      11
Bank owned life insurance income10897776
Interest and debt expense(277)(455)(302)(174)(149)(208)(172)
Other undisclosed loss from continuing operations before equity method investments, income taxes(344)(320)(420)(120)(109)(114)(122)
Income from continuing operations before income taxes:530457330253233127147
Income tax expense(139)(147)(68)(91)(65)(24)(31)
Net income attributable to parent:391310261162168103116
Preferred stock dividends and other adjustments(13)(13)(13)(9)(7)(4) 
Net income available to common stockholders, diluted:37829724915216199116

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:391310261162168103116
Other comprehensive income (loss)2437(23)44(3)(4)
Comprehensive income, net of tax, attributable to parent:415347239166172100112

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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