Valley National Bancorp (VLY) News & EventsVLYValley National Bancorp

Valley National Bank Expands Consumer Banking Leadership Team

Valley National Bank announced the expansion of its consumer banking leadership team with the appointments of Larricia Lumpkins as First Senior Vice President, Head of Sales & Service, and Peter Illian as First Senior Vice President, Head of Product & Pricing. As Head of Sales & Service, Lumpkins will focus on enhancing efficiency, improving performance consistency, and strengthening accountability across the sales and service organization. She will oversee key functions including retail sales training and retail operations, with a mandate to empower frontline teams to better serve customers and drive results. Most recently, she was the Sales Strategy and Performance Director at Citizens bank, leading enterprise sales, service enablement, and design, supporting more than 5,000 frontline colleagues across multiple business lines. Illian will lead the development and execution of Valley's consumer product strategy and pricing framework, overseeing product lifecycle management, innovation initiatives, and pricing strategies designed to drive profitability, competitiveness, and customer satisfaction. Most recently, he served as Senior Vice President, Deposits at Discover Financial Services.

Company Reports Q1 Revenue of $540.36M

Reports Q1 revenue $540.36M, consensus $533.2M. Reports Q1 tangible book value per share $9.94. Reports Q1 CET1 capital ratio 10.91%. Reports Q1 net charge-offs .14%. Ira Robbins, CEO, commented, "We continue to execute on our strategic priorities by growing low-cost core deposits and further diversifying our loan portfolio. These efforts have strengthened our balance sheet metrics and enhanced the sustainability of our earnings and profitability. Through targeted hiring efforts of strategically focused bankers, we are positioned to build on the momentum that we have established in recent years."

Valley Bank Expands Commercial Banking Operations into Arizona

Valley Bank announced the organic expansion of its relationship-focused commercial banking operations into the Phoenix, Arizona market. With this expansion, Valley now operates in 6 of the top 10 US Metropolitan Statistical Areas based on population. "Our expansion into Arizona is a meaningful milestone for Valley and a natural extension of our commercial banking strategy," said Gino Martocci, President of Commercial Banking at Valley. "Arizona is one of the fastest growing and most capital-intensive economies in the nation. With population growth exceeding the U.S. average, more than $30 billion in annual business investment, and over $165 billion committed to advanced manufacturing alone, the state is attracting companies that are scaling rapidly and investing for the long term. Our existing presence through Dudley Ventures, and their connectivity to the local business community, gives us a strong foundation to build from. As one of the strongest regional banks in the country, we continue to invest strategically in markets where we can differentiate ourselves with experience and responsible scale, and deliver long-term value for our clients and shareholders."