Valley National Bancorp (NASDAQ: VLY) (“the company”) is the bank holding company for primary subsidiary, Valley National Bank (est. 1927). VLY operates a broad retail network with over 200 branch locations based largely in New Jersey, New York City, and Florida as well as a smaller presence in Alabama. The company’s primary operations are in traditional consumer and commercial banking services, though also include offerings of more specialized services such as investment and wealth management and insurance.
VLY's loan portfolio includes an elevated concentration in investor CRE (~350% of total risk-based capital at 2Q25), though the company has materially reduced its exposure in recent periods, namely through runoff as well as the sale of ~$1 billion in CRE loans in 2024. Approximately 35% of VLY's investor CRE is multifamily loans, including $2.4 billion of multifamily loans in NYC. Of note, exposure to rent regulated multi-family was considered…
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