Valley National Bank Closes on the Sale of Nearly $1 Billion of Commercial Real Estate Loans to Brookfield Asset Management [Yahoo! Finance]
Valley National Bancorp (VLY)
Last valley national bancorp earnings: 4/30 08:00 am
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Source: Yahoo! Finance
Bank (the “Bank”), announced that the Bank closed on the sale of a diverse pool of performing commercial real estate mortgage loans to Brookfield Asset Management ( NYSE: BAM, TSX: BAM ) (“Brookfield”), a global alternative investment manager. The final loan pool sold had contractual balances totaling approximately $925 million, of which approximately $823 million had been previously identified and transferred to held for sale as of September 30, 2024. The loan pool was sold at a discount of approximately one percent to par value, and Valley will retain customer-facing servicing responsibilities. Ira Robbins, Chairman and Chief Executive Officer of Valley, commented, “The sale of this performing commercial real estate loan pool has helped to accelerate progress towards our strategic balance sheet goals. Throughout the year we have patiently monitored loan sale opportunities in the context of our deep understanding of the intrinsic value of our assets, and the unique dynamics of the
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News
- Valley National Bank Announces the Retirement of President Thomas A. Iadanza [Yahoo! Finance]Yahoo! Finance
- Valley National Bank Announces the Retirement of President Thomas A. IadanzaGlobeNewswire
- Valley Bank Appoints Gail Castellano to Lead New Staten Island Banking Team [Yahoo! Finance]Yahoo! Finance
- Valley Bank Appoints Gail Castellano to Lead New Staten Island Banking TeamBusiness Wire
- Valley National Bancorp (NASDAQ: VLY) had its price target raised by analysts at Barclays PLC from $10.00 to $11.00. They now have an "equal weight" rating on the stock.MarketBeat
VLY
Earnings
- 10/24/24 - In-Line
VLY
Sec Filings
- 12/11/24 - Form 8-K
- 12/9/24 - Form 8-K
- 12/2/24 - Form 3
- VLY's page on the SEC website