Valley National Bancorp
Similar to: Huntington Bancshares, Inc.
Valley National Bancorp. operates as a bank holding company. The company, through its subsidiary, Valley National Bank, provides retail and commercial banking services, including depository banking, consumer and commercial lending, trust and pension services. It operates through four reportable business segments: Consumer Lending, Commercial Lending, Investment Management, and Corporate and Other Adjustments. The Consumer Lending segment provides residential mortgages, home equity loans and automobile loans. The Commercial Lending segment comprised of floating rate and adjustable rate commercial and industrial loans, as well as fixed rate owner occupied and commercial real estate loans. The Investment Management segment comprised of fixed rate investments, trading securities, and depending on liquid cash position, federal funds sold and interest-bearing deposits with banks. The Corporate and Other Adjustments segment represents income and expense items not directly attributable to a specific segment, including trading and securities gains, and net impairment losses on securities not reported in the investment management segment. Valley National Bancorp's subsidiaries are engaged in asset management, mortgage servicing, and multi-line insurance. The company was founded in 1983 and is headquartered in Wayne, NJ.