Valley National Bancorp (VLY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the Valley National Bancorp Fourth Quarter 2025 Earnings Conference Call. At this time, all participants are in listen-only mode. After this previous presentation, there will be a question and answer session. To ask a question during this session, you will need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised that today's conference is pre-recorded. I'd like to hand the conference over to your first speaker today, Andrew Giannetti. Please go ahead. Good morning, and welcome to Valley's fourth quarter 2025 earnings conference call. I am joined today by CEO Ira Robbins and CFO Travis Lamb. Our quarterly earnings release and supporting documents are available at valley.com. Reconciliations of any non-GAAP measures mentioned on the call can be found in today's earnings report. Please also note slide two of our earnings presentation, and remember that comments made today may include forward-looking statements about Valley National Bank Corp and the banking industry. For more information on these forward-looking statements and associated risk factors, please refer to our SEC filings, including Forms 8-K, 10-Q, and 10-K. With that, I'll turn the call over to Ira Robbins. Thank you, Andrew. Valley delivered record earnings in the fourth quarter of 2025 with net income of approximately $195 million, or 33 cents per diluted share. Excluding certain non-core items, adjusted net income was $180 million, or 31 cents per diluted share, an increase from 28 cents on both the reported and adjusted basis in the third quarter of 2025. Our adjusted return on average assets of 1.14% represents the highest le...