Form 8-K - Current report

false 0000714310 0000714310 2024-12-11 2024-12-11 0000714310 vly:CommonStockNoParValueMember 2024-12-11 2024-12-11 0000714310 vly:NonCumulativePerpetualPreferredStockSeriesANoParValueMember 2024-12-11 2024-12-11 0000714310 vly:NonCumulativePerpetualPreferredStockSeriesBNoParValueMember 2024-12-11 2024-12-11 0000714310 vly:NonCumulativePerpetualPreferredStockSeriesCNoParValueMember 2024-12-11 2024-12-11

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): December 11, 2024

 

 

VALLEY NATIONAL BANCORP

(Exact Name of Registrant as Specified in Charter)

 

 

 

New Jersey		1-11277		22-2477875
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(I.R.S. Employer Identification Number)

 

One Penn Plaza, New York, New York				10119
(Address of Principal Executive Offices)				(Zip Code)

[phone]

(Registrant’s telephone number, including area code)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, no par value		VLY		The Nasdaq Stock Market
Non-Cumulative Perpetual Preferred Stock, Series A, no par value		VLYPP		The Nasdaq Stock Market
Non-Cumulative Perpetual Preferred Stock, Series B, no par value		VLYPO		The Nasdaq Stock Market
Non-Cumulative Perpetual Preferred Stock, Series C, no par value		VLYPN		The Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

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Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 11, 2024, Thomas A. Iadanza notified Valley National Bancorp (the “Company”) of his intention to retire from his position as President of the Company and Valley National Bank after 13 years with the Company and more than 45 years working in the banking industry. Mr. Iadanza will remain in his role as President until his retirement effective June 30, 2025 working with the Board of Directors and executive leadership team to facilitate a seamless transition of his duties and responsibilities. The Company extends its heartfelt gratitude to Mr. Iadanza for his many years of dedicated service and contributions to the Company and the banking industry at large.

 

Item 9.01

Financial Statements and Exhibits

 

(d)

Exhibits.

 

Exhibit No.		Description
99.1		Press release of Valley National Bancorp, dated December 11, 2024, announcing the retirement of Thomas A. Iadanza.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

				VALLEY NATIONAL BANCORP
Dated: December 11, 2024
				By:		/s/ Gary G. Michael
						Gary G. Michael
						Executive Vice President, General Counsel & Corporate Secretary

 

-3-

Exhibit 99.1

 

		News Release

 

FOR IMMEDIATE RELEASE		Contact:		Travis Lan
				Executive Vice President and Interim Chief Financial Officer
				[phone]

VALLEY NATIONAL BANK ANNOUNCES THE RETIREMENT OF PRESIDENT THOMAS A. IADANZA

New York, NY – Wednesday, December 11, 2024 — Valley National Bancorp (NASDAQ: VLY) (“Valley”), the holding company for Valley National Bank (the “Bank”), announced that Thomas A. Iadanza has notified the Company of his intention to retire from his position as President effective June 30, 2025. Mr. Iadanza has led a distinguished 45-year career in banking including over the last 13 years at Valley. In his role as President, Mr. Iadanza has helped to lead Valley’s growth efforts and evolution to a leading regional bank.

Mr. Iadanza joined Valley through the 2012 acquisition of State Bancorp, Inc. (“State”) where he served as Chief Lending Officer. Prior to joining State, Mr. Iadanza held leadership roles at Santander Bank, N.A., Independence Community Bank Corp., Citibank, and European American Bank.

Ira Robbins, Chairman and Chief Executive Officer of Valley, commented, “I am extremely grateful for Tom’s leadership, mentorship, and friendship over the last 13 years. Tom’s dedication to our customers, employees, and stakeholders has contributed meaningfully to our successful evolution. He is the consummate relationship banker and continues to provide the template for our bankers to emulate across the franchise. On behalf of Valley, our employees, and our Board of Directors, we wish Tom all the best in his well-earned retirement.”

Mr. Iadanza will remain in his role as President until his retirement in June 2025. In that time, Mr. Iadanza will work with the Board of Directors and executive leadership team to facilitate a seamless transition of his duties and responsibilities.

About Valley

As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with over $62 billion in assets. Valley is committed to giving people and businesses the power to succeed. Valley operates many convenient branch locations and commercial banking offices in New Jersey, New York, Florida, Alabama, California, and Illinois and is committed to providing the most convenient service, the latest innovations and an experienced and knowledgeable team dedicated to meeting customer needs. Helping communities grow and prosper is the heart of Valley’s corporate citizenship philosophy. To learn more about Valley, go to www.valley.com or call our Customer Care Center at 800-522-4100.

Document and Entity Information	Dec. 11, 2024
Document And Entity Information [Line Items]
Amendment Flag	false
Entity Central Index Key	0000714310
Document Type	8-K
Document Period End Date	Dec. 11, 2024
Entity Registrant Name	VALLEY NATIONAL BANCORP
Entity Incorporation State Country Code	NJ
Entity File Number	1-11277
Entity Tax Identification Number	22-2477875
Entity Address, Address Line One	One Penn Plaza
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10119
City Area Code	(973)
Local Phone Number	305-8800
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Common Stock No Par Value [Member]
Document And Entity Information [Line Items]
Security 12b Title	Common Stock, no par value
Trading Symbol	VLY
Security Exchange Name	NASDAQ
Not Cumulative Perpetual Preferred Stock Series A No Par Value [Member]
Document And Entity Information [Line Items]
Security 12b Title	Non-Cumulative Perpetual Preferred Stock, Series A, no par value
Trading Symbol	VLYPP
Security Exchange Name	NASDAQ
Not Cumulative Perpetual Preferred Stock Series B No Par Value [Member]
Document And Entity Information [Line Items]
Security 12b Title	Non-Cumulative Perpetual Preferred Stock, Series B, no par value
Trading Symbol	VLYPO
Security Exchange Name	NASDAQ
Not Cumulative Perpetual Preferred Stock Series C No Par Value [Member]
Document And Entity Information [Line Items]
Security 12b Title	Non-Cumulative Perpetual Preferred Stock, Series C, no par value
Trading Symbol	VLYPN
Security Exchange Name	NASDAQ

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