Company Research Report: Valley National Bank

Company Overview

• Name: Valley National Bank

• Mission: Valley National Bank is committed to empowering customers, employees, and communities to succeed, grow, and prosper.

• Founded: 1927, originally established as the Passaic Park Trust Company.

• Founders: No information is available.

• Key People:

• Ira Robbins: Chief Executive Officer of Valley National Bancorp and Valley National Bank, Chairman of the Board

• Tom Iadanza: President

• Joseph V. Chillura: Senior Executive Vice President, Commercial Banking

• Michael D. Hagedorn: Senior Executive Vice President and Chief Financial Officer

• John P. Regan: Senior Executive Vice President and Chief Risk Officer

• Yvonne Surowiec: Senior Executive Vice President and Chief People Officer

• Russell Barrett: Senior Executive Vice President and Chief Operations Officer

• Headquarters: Morristown, New Jersey, USA

• Number of Employees: More than 3,800

• Revenue: No information is available.

• Known For: Valley National Bank is recognized as a leading commercial bank built for growth, with a strong regional presence and focus on community impact and empowerment.

Products

Banking Products and Services

• Personal Banking

• Checking Accounts: Variety to suit different life stages and needs.

• Credit Cards: Options for cashback, low introductory APR, rewards.

• Savings Accounts and CDs: Flexible savings options and fixed-rate CDs with various terms.

• IRAs: Long-term saving solutions for retirement.

• Business Banking

• Deposit Products: Dedicated for core business banking.

• Lending Solutions: Including business loans and lines of credit.

• Treasury Services: Cash management and financial growth facilitation.

• Commercial Banking

• Industries Served: Real estate, healthcare, technology, and more.

• Solutions: Tailored financial products to support business expansions and success.

Key Features of Financial Products

• Mobile and Online Banking: Easy account management with mobile app and online banking.

• Branch Network: Over 200 branches for personal service and support.

• FDIC Insurance: Accounts insured up to $250,000 per depositor.

Recent Developments

• Awards and Recognition:

• Named one of America's Best Regional Banks 2024 by Newsweek and Plant-A Insights Group.

• Received the Culture at Work award at the ADP Meeting of the Minds Conference for excellence in human capital management and workplace innovation.

• Strategic Initiatives:

• Expansion of leadership to enhance market presence, notably in South Florida.

• Completion of a $150 million syndicated credit facility to Green Thumb Industries Inc.

• Community Engagement:

• Investment of more than $3 billion in community support initiatives in 2023.

• Extensive volunteer efforts contributing 295 hours to Jewish Vocational Services of MetroWest.

• Sustainability and ESG Reporting:

• Issued second ESG report to highlight sustainable growth and responsible business practices.

• Technology and Innovation:

• Collaborated with ADP for over 35 years to enhance diversity, equity, inclusion, and streamline HR processes through technology.

Summary

Valley National Bank is a robust regional financial institution with deep roots in community banking, excelling in delivering customer-focused financial solutions across personal, business, and commercial sectors. The bank is dedicated to fostering community growth and maintaining a strong presence through strategic market expansions and continual investments in community and employee development. With a history of over 95 years, Valley National Bank remains committed to its values and mission while innovating for future growth.