| Business Summary | | Valley
National
Bancorp
is
a
bank
holding
company
whose
principal
wholly
owned
subsidiary
is
Valley
National
Bank
(VNB),
a
national
banking
association
providing
a
full
range
of
commercial
and
retail
banking
services
through
118
branch
offices
located
in
northern
New
Jersey.
These
services
include
acceptance
of
demand,
savings
and
time
deposits;
extension
of
consumer,
real
estate,
Small
Business
Administration
and
other
commercial
credits;
title
insurance;
investment
services;
and
full
personal
and
corporate
trust,
as
well
as
pension
and
fiduciary
services.
VNB's
four
major
business
segments
are
consumer
lending,
commercial
lending,
investment
management
and
corporate
and
other
adjustments. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | VLY
is
a
bank
holding
company
for
Valley
National
Bank,
which
provides
a
full
range
of
banking
services
throug
through
branch
offices
in
northern
New
Jersey.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
2%
to
$284.6
million.
Net
interest
income
after
LLP
rose
5%
to
$158.7
million.
Net
income
fell
2%
to
$63.1
million.
Net
interest
income
reflects
higher
interest
earning
assets
and
lower
interest
expenses.
Earnings
were
offset
by
a
$9
million
merger-related
charge. | More
from
Market Guide: Significant
Developments |
| | | | FY1998
Compensation | | Pay | Exer | |
| Gerald Lipkin, 57 Chairman,
Pres and CEO of Valley and VNB | $1.1M | $116K | Peter Southway, 64 Vice
Chairman of Valley and VNB | 600K | 87K | Peter Crocitto, 41 Exec.
VP of Valley and VNB | 411K | 27K | Robert Meyer, 52 Exec.
VP of Valley and VNB | 411K | -- | Peter Southway, 38 Exec.
VP of Valley and VNB | 410K | -- | Dollar
amounts are as of 31-Dec-1998 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|