Valley National Bancorp reported a net income of $133.2 million for the second quarter of 2025, translating to $0.22 per diluted share, a significant increase from $70.4 million, or $0.13 per diluted share, in the same quarter of the previous year. The bank's total interest income for the quarter was $805.0 million, slightly down from $833.5 million year-over-year, while total interest expense decreased to $372.6 million from $431.8 million. This resulted in a net interest income of $432.4 million, up from $401.7 million in the prior year, reflecting a net interest margin of 3.01%, compared to 2.83% in the same quarter of 2024.
Compared to the previous fiscal period, Valley National Bancorp's total assets increased to approximately $62.7 billion as of June 30, 2025, up from $62.5 billion at the end of 2024. The bank's total loans rose to $49.4 billion, a 6.0% annualized increase from the previous quarter, driven primarily by growth in commercial and industrial loans. Total deposits also saw a rise, reaching $50.7 billion, an increase of $759.4 million from the first quarter of 2025, attributed to both direct and indirect customer time deposits.
Strategically, Valley National Bancorp redeemed $115 million of subordinated notes in June 2025, resulting in a pre-tax loss of $922,000. The bank's allowance for credit losses for loans stood at $594 million, representing 1.20% of total loans, with a provision for credit losses of $37.8 million for the quarter, down from $82.1 million in the same quarter of 2024. The bank continues to focus on diversifying its loan portfolio, particularly reducing its concentration in commercial real estate loans, which accounted for 58.4% of total loans as of June 30, 2025.
Operationally, Valley National Bancorp reported a total of 559.7 million shares outstanding as of August 6, 2025. The bank's geographic footprint includes branches in New Jersey, New York, Florida, California, Alabama, and Illinois, with a total of 230 branches. The bank's customer base and engagement metrics have remained stable, with a focus on maintaining a diversified portfolio to mitigate risks associated with economic fluctuations. Looking ahead, Valley anticipates continued growth in net interest income, projecting an increase of 8% to 10% for the full year 2025, despite potential challenges in the economic environment.
About VALLEY NATIONAL BANCORP
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