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 07055.
It was founded in 1927 and has approximately $61 billion in assets. Customers can open an account at one of its 277 branches.

Deposit Rates - May 27, 2024

SAVINGS RATES APY MIN
CD RATES APY MIN
6 Mo CD
0.25% $10,000 Compare
6 Mo CD
0.25% $100,000 Compare
12 Mo CD
0.25% $200 Compare
12 Mo CD
0.25% $10,000 Compare
12 Mo CD
0.25% $100,000 Compare
18 Mo CD
0.35% $10,000 Compare
18 Mo CD
0.35% $100,000 Compare
24 Mo CD
0.35% $10,000 Compare
24 Mo CD
0.35% $100,000 Compare
30 Mo CD
0.40% $10,000 Compare
30 Mo CD
0.40% $100,000 Compare
36 Mo CD
0.45% $10,000 Compare
36 Mo CD
0.45% $100,000 Compare
48 Mo CD
0.55% $10,000 Compare
48 Mo CD
0.55% $100,000 Compare
60 Mo CD
0.00% $10,000 Compare
60 Mo CD
0.00% $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 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 9396
Date Established 1927
Assets $ 60.94 billion
Loans $ 49.79 billion
Deposits $ 49.44 billion
Capital $ 7.28 billion

Summary Balance Sheet as of June 30, 2023

ASSETS
Cash & Balances due from depository institutions $ 888.23 million
Interest-bearing balances $ 607.14 million
Total securities $ 5.07 billion
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 49.79 billion
Loan loss allowance $ 446.08 million
Trading account assets $ 11.85 million
Bank premises and fixed assets N.A.
Other real estate owned $ 0.07 million
Goodwill and other intangibles $ 2.02 billion
All other assets $ 1,677.52 million
     Total Assets $ 53.66 billion

LIABILITIES
Total deposits $ 49.44 billion
      Interest-bearing deposits $ 37.70 billion
      Deposits held in domestic offices $ 49.44 billion
      % insured (estimated) 64.49%
Federal funds purchased and repurchase agreements $ 67.83 million
Trading liabilities $ 8.39 million
Other borrowed funds $ 2.17 billion
Subordinated debt N.A.
All other liabilities $ 956.66 millionn
      Total Liabilities $ 53.66 billion
      Shareholders’ Equity $ 7.28 billion

Summary Income Statement as of June 30, 2023

INCOME AND EXPENSES
Total Interest Income $ 3.14 billion
Total Interest Expense $ 1,422.07 million
Net interest income $ 1,716.82 million
Provision for loan and lease losses $ 50.18 million
Total non interest income $ 215.29 million
Total non interest expense $ 1,156.15 million
Pre-tax Net Operating Income $ 317.68 million

Customer Reviews for Valley National Bank (5)

Rated 2.60 stars out of 5 - based on 5 reviews
  • I was a customer for years but they would not give me the 3.68% money market unless I was a new customer.... so I am no longer a customer

  • 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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Your current location is: Ashburn, VA

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 SAVINGS
    Bank
    NEW JERSEY
    $50,000
    N.A.
    0.02%
    0.09x (National Avg. - 0.22%)
    $2,500
    -
    SCENARIO
    Year Rate
    0.02%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 10 7
    2 50,010 10 7
    3 50,020 10 7
    4 50,030 10 7
    5 50,040 10 7
    6 50,050 10 7
    7 50,060 10 7
    8 50,070 10 7
    9 50,080 10 7
    10 50,090 10 7
    11 50,100 10 7
    12 50,110 10 7
    13 50,120 10 7
    14 50,130 10 7
    15 50,140 10 7
    16 50,150 10 7
    17 50,160 10 7
    18 50,170 10 7
    19 50,180 10 7
    20 50,190 10 7
    TOTAL $200 $140
  • 2
    ONLINE SAVINGS
    Online Bank
    -
    $50,000
    N.A.
    4.50%
    20.74x (National Avg. - 0.22%)
    $1
    -
    SCENARIO
    Year Rate
    4.50%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,250 1,575
    2 52,250 2,351 1,646
    3 54,601 2,457 1,720
    4 57,058 2,568 1,797
    5 59,626 2,683 1,878
    6 62,309 2,804 1,963
    7 65,113 2,930 2,051
    8 68,043 3,062 2,143
    9 71,105 3,200 2,240
    10 74,305 3,344 2,341
    11 77,648 3,494 2,446
    12 81,143 3,651 2,556
    13 84,794 3,816 2,671
    14 88,610 3,987 2,791
    15 92,597 4,167 2,917
    16 96,764 4,354 3,048
    17 101,119 4,550 3,185
    18 105,669 4,755 3,329
    19 110,424 4,969 3,478
    20 115,393 5,193 3,635
    TOTAL $70,586 $49,410