This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Valley National Bancorp's CEO Discusses Q4 2011 Results - Earnings Call Transcript

Stocks in this article: VLY

Commercial Real Estate excluding commercial loans grew approximately $50 million from the third quarter as originations of $132 million were also impacted by both scheduled and non scheduled principal payments of over $80 million.

On average, prepayments in part precipitated by the low interest rate environment during 2011 were approximately 11% greater than the amount recognized in 2010.

The commercial C&I portfolio expanded $8.2 million or nearly 2% annualized from the prior quarter.

Line usage remained at approximately 38.5%. However, the total amount of committed lines from lines of credit grew by nearly $70 million.

Activity in Valley’s New York and New Jersey market place was strong during the fourth quarter as new originations equaled $157 million or 20% greater than new volumes realized in the third quarter.

The current quarter increase in loan activity is promising, yet from our perception does not imply customer sentiments has fully shifted in a positive direction. Much of our growth had come from taking business away from some of our competitors and many of our customers continue to be reluctant to expand their businesses until the economic conditions improve and they can anticipate sustainable business profits.

We remain optimistic about growth in Valley’s commercial lending portfolio and see continued opportunities throughout 2012. However, as is customary as Valley, loan growth is limited based on management’s emphasis on credit quality. Growing the balance sheet simply for the sake of size has never been the focus at Valley. Growing the most profitable and long term sustainable earning stream focusing of credit quality is the hallmark of Valley and ultimately drives the levels of portfolio growth.

As previously stated, many of Valley’s new commercial lending relationships originated throughout 2011 are largely the result of borrowers migrating from other financial institutions as opposed to expanding existing lending relationships due to growth in the economy.

3 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs