Earnings Call Summary | Valley National Bancorp(VLY.US) Q1 2024 Earnings Conference
Earnings Call Summary | Valley National Bancorp(VLY.US) Q1 2024 Earnings Conference
The following is a summary of the Valley National Bancorp (VLY) Q1 2024 Earnings Call Transcript:
以下是Valley National Bancorp(VLY)2024年第一季度業績電話會議記錄的摘要:
Financial Performance:
財務業績:
Valley reported Q1 2024 net income of $96 million and earnings per share of $0.18. Adjusted net income and earnings per share were $99 million and $0.19 respectively.
The company reported a decrease in total loans by nearly $300 million due to strategic sales of its commercial real estate and construction loans.
Noninterest expenses were kept low despite the seasonal headwind associated with higher payroll taxes.
Gross margin percentage remained consistent.
Valley is expected to achieve 9.8% Tier 1 common equity, 440% commercial real estate to risk-based capital, and a loan to deposit ratio around 100% by year-end 2024.
Valley報告稱,2024年第一季度淨收入爲9,600萬美元,每股收益爲0.18美元。調整後的淨收益和每股收益分別爲9900萬美元和0.19美元。
該公司報告稱,由於商業房地產和建築貸款的戰略銷售,貸款總額減少了近3億美元。
儘管存在與工資稅上漲相關的季節性不利因素,但非利息支出仍保持在較低水平。
毛利率百分比保持穩定。
預計到2024年底,Valley將實現一級普通股的9.8%,商業房地產佔風險資本的比例爲440%,貸款存款比率約爲100%。
Business Progress:
業務進展:
The company exhibited strong credit quality as past due and nonaccrual loans declined compared to December 31, 2023.
Valley has focused on managing its commercial real estate concentration more effectively and plans to diversify its loan portfolio.
Valley initiated C&I businesses with the aim of diversifying the portfolio.
The company leveraged the benefits of migrating onto a single core platform, increasing organization-wide efficiency and reducing expenses.
In pursuit of a lower loan to deposit ratio, growth is expected from niche businesses and retail branches, having added over 3,000 net new deposit accounts in the first quarter.
Mergers and acquisitions are being considered to boost strategic initiatives, provided they align with their criteria, which includes preserving tangible book value.
與2023年12月31日相比,由於逾期貸款和非應計貸款有所下降,該公司表現出良好的信貸質量。
Valley一直專注於更有效地管理其商業房地產集中度,並計劃分散其貸款組合。
Valley啓動了C&I業務,目的是實現投資組合的多元化。
該公司利用了遷移到單一核心平台的好處,提高了組織範圍的效率並減少了開支。
爲了降低貸款存款比率,預計利基企業和零售分支機構將實現增長,第一季度淨新增存款賬戶超過3,000個。
正在考慮通過兼併和收購來推動戰略舉措,前提是這些舉措符合其標準,包括保持有形賬面價值。
More details: Valley National Bancorp IR
更多詳情: 山谷國家銀行IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示:欲了解更多詳情,請訪問投資者關係網站。本文僅供投資者參考,不構成任何投資建議。
譯文內容由第三人軟體翻譯。