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DBRS cited Valley's sustained sound asset quality, consistent profitability and the demographically attractive market it operates in as the bank's core strengths.
"We are pleased with the rating DBRS has given us," said Gerald H. Lipkin, Chairman, President and CEO of Valley National Bank. "It is consistent with Valley's longstanding focus on credit quality and the fundamentals of long-term performance for its shareholders. The DBRS rating reinforces the credit culture we have established here at Valley."
Valley is a regional bank holding company, headquartered in Wayne, New Jersey, with over $14 billion in assets. Its principal subsidiary, Valley National Bank, currently operates 199 branches in 135 communities serving 14 counties throughout northern and central New Jersey and Manhattan, Brooklyn and Queens. Valley is the largest commercial bank headquartered in New Jersey.
SOURCE Valley National Bank
http://www.valleynationalbank.com
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