Valley National Bank

For information concerning Valley Direct, a division of Valley National Bank online bank, please click here.

Valley National Bank is an FDIC insured institution headquartered at 615 Main Ave, Passaic, NJ 7055.
It was founded in 1927 and has approximately $54 billion in assets. Customers can open an account at one of its 277 branches.

Deposit Rates - January 31, 2023

SAVINGS RATES APY MIN
CD RATES APY MIN
6 Mo CD
0.25% $10,000 Compare
6 Mo CD
0.25% $100,000 Compare
MM RATES APY MIN
Money Market
0.50% $10,000 Compare
Money Market
0.50% $25,000 Compare
INT CHECKING RATES APY MIN
Int Ckg
0.02% $2,500

Overview 2023

General Bank Information

FDIC Insured Yes
FDIC Certificate # 9396
Date Established 1927
Assets $ 54.44 billion
Loans $ 43.11 billion
Deposits $ 43.92 billion
Capital $ 6.92 billion

Summary Balance Sheet

ASSETS
Cash & Balances due from depository institutions $ 1,387.52 million
Interest-bearing balances $ 906.65 million
Total securities $ 5.14 billion
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 43.11 billion
Loan loss allowance $ 468.82 million
Trading account assets $ 365.36 million
Bank premises and fixed assets N.A.
Other real estate owned $ 0.42 million
Goodwill and other intangibles $ 2.08 billion
All other assets $ 1,677.52 million
     Total Assets $ 47.51 billion

LIABILITIES
Total deposits $ 43.92 billion
      Interest-bearing deposits $ 27.74 billion
      Deposits held in domestic offices $ 43.92 billion
      % insured (estimated) 55.15%
Federal funds purchased and repurchase agreements $ 142.79 million
Trading liabilities $ 326.06 million
Other borrowed funds $ 2.17 billion
Subordinated debt N.A.
All other liabilities $ 956.66 millionn
      Total Liabilities $ 47.51 billion
      Shareholders’ Equity $ 6.92 billion

Summary Income Statement

INCOME AND EXPENSES
Total Interest Income $ 793.40 million
Total Interest Expense $ 45.07 million
Net interest income $ 748.33 million
Provision for loan and lease losses $ 41.91 million
Total non interest income $ 98.96 million
Total non interest expense $ 487.70 million
Pre-tax Net Operating Income $ 317.68 million

Customer Reviews for Valley National Bank (4)

Rated 3.00 stars out of 5 - based on 4 reviews
  • One of the better banks on this list. It is a local bank (in NJ and PA).
    That doesn't always gets you more personalized service on the online side, but in this case it does. I called once or twice and felt like I was dealing with someone responsive to my issue. I also appreciated the call just to make sure it was me when I made a withdrawal.

  • online transfer limits are a real problem so i closed account and won't go back.

  • Valley is a real two-bit operations. I opened an account here and I'll manage as long as the rate stays competitive because it is easier than trying to close it right now. You cannot easily transfer money in or out from an external bank. It all needs to be done with the external account.

  • I live in PA and have some familiarity with Valley National Bank. I am not sure that I would have opened the account otherwise, but I have had no problems.


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Branches

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Valley National Bank Locations

Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    LOCAL CD
    Bank
    NEW JERSEY
    $50,000
    6 Month
    0.25%
    0.88x (National Avg. - 0.28%)
    $10,000
    -
    SCENARIO
    Year Rate
    0.25%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 125 88
    2 50,125 125 88
    3 50,250 126 88
    4 50,376 126 88
    5 50,502 126 88
    6 50,628 127 89
    7 50,755 127 89
    8 50,882 127 89
    9 51,009 128 89
    10 51,136 128 89
    11 51,264 128 90
    12 51,392 128 90
    13 51,521 129 90
    14 51,650 129 90
    15 51,779 129 91
    16 51,908 130 91
    17 52,038 130 91
    18 52,168 130 91
    19 52,298 131 92
    20 52,429 131 92
    TOTAL $2,560 $1,792
  • 2
    LOCAL CD
    Online Bank
    -
    $50,000
    12 Month
    4.15%
    9.63x (National Avg. - 0.43%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.15%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,075 1,453
    2 52,075 2,161 1,513
    3 54,236 2,251 1,576
    4 56,487 2,344 1,641
    5 58,831 2,441 1,709
    6 61,273 2,543 1,780
    7 63,815 2,648 1,854
    8 66,464 2,758 1,931
    9 69,222 2,873 2,011
    10 72,095 2,992 2,094
    11 75,087 3,116 2,181
    12 78,203 3,245 2,272
    13 81,448 3,380 2,366
    14 84,828 3,520 2,464
    15 88,349 3,666 2,567
    16 92,015 3,819 2,673
    17 95,834 3,977 2,784
    18 99,811 4,142 2,900
    19 103,953 4,314 3,020
    20 108,267 4,493 3,145
    TOTAL $62,760 $43,932
  • 3
    LOCAL CD
    Online Bank
    -
    $50,000
    24 Month
    4.30%
    7.80x (National Avg. - 0.55%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.30%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,150 1,505
    2 52,150 2,242 1,570
    3 54,392 2,339 1,637
    4 56,731 2,439 1,708
    5 59,171 2,544 1,781
    6 61,715 2,654 1,858
    7 64,369 2,768 1,938
    8 67,137 2,887 2,021
    9 70,024 3,011 2,108
    10 73,035 3,140 2,198
    11 76,175 3,276 2,293
    12 79,451 3,416 2,391
    13 82,867 3,563 2,494
    14 86,430 3,717 2,602
    15 90,147 3,876 2,713
    16 94,023 4,043 2,830
    17 98,066 4,217 2,952
    18 102,283 4,398 3,079
    19 106,681 4,587 3,211
    20 111,268 4,785 3,349
    TOTAL $66,053 $46,237
  • 4
    LOCAL CD
    Online Bank
    -
    $50,000
    60 Month
    4.40%
    5.45x (National Avg. - 0.81%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.40%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,200 1,540
    2 52,200 2,297 1,608
    3 54,497 2,398 1,679
    4 56,895 2,503 1,752
    5 59,398 2,614 1,829
    6 62,012 2,729 1,910
    7 64,740 2,849 1,994
    8 67,589 2,974 2,082
    9 70,563 3,105 2,173
    10 73,667 3,241 2,269
    11 76,909 3,384 2,369
    12 80,293 3,533 2,473
    13 83,825 3,688 2,582
    14 87,514 3,851 2,695
    15 91,364 4,020 2,814
    16 95,384 4,197 2,938
    17 99,581 4,382 3,067
    18 103,963 4,574 3,202
    19 108,537 4,776 3,343
    20 113,313 4,986 3,490
    TOTAL $68,299 $47,809