$VLY
VALLEY NATIONAL BANCORP

2011 Q2 Form 10-Q Financial Statement

#000119312511214561 Filed on August 09, 2011

View on sec.gov

Income Statement

Concept 2011 Q2 2010 Q2
Revenue $167.8M
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.900M $6.500M
YoY Change -9.23% 47.73%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $50.12M
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $61.61M $47.10M
YoY Change 30.8% 118.06%
Income Tax $25.00M $14.10M
% Of Pretax Income 40.58% 29.94%
Net Earnings $36.61M $33.00M
YoY Change 10.93% 120.0%
Net Earnings / Revenue 21.82%
Basic Earnings Per Share $0.21 $0.20
Diluted Earnings Per Share $0.21 $0.20
COMMON SHARES
Basic Shares Outstanding 178.3M shares 169.0M
Diluted Shares Outstanding 178.3M shares 169.0M

Balance Sheet

Concept 2011 Q2 2010 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $526.7M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $265.0M $264.0M
YoY Change 0.38% -2.58%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $14.47B $14.11B
YoY Change 2.54% -0.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $362.0M $156.0M
YoY Change 132.05% 6.85%
Deferred Revenue
YoY Change
Short-Term Debt $171.0M $184.0M
YoY Change -7.07% -4.66%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $362.0M $156.0M
YoY Change 132.05% 6.85%
LONG-TERM LIABILITIES
Long-Term Debt $2.912B $3.078B
YoY Change -5.39% -2.22%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $2.912B $3.078B
YoY Change -5.39% -2.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $362.0M $156.0M
Total Long-Term Liabilities $2.912B $3.078B
Total Liabilities $13.16B $12.84B
YoY Change 2.45% 0.24%
SHAREHOLDERS EQUITY
Retained Earnings $91.87M $72.75M
YoY Change 26.28%
Common Stock $1.237B $1.235B
YoY Change 0.13%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.925M $26.33M
YoY Change -73.7%
Treasury Stock Shares
Shareholders Equity $1.311B $1.269B
YoY Change
Total Liabilities & Shareholders Equity $14.47B $14.11B
YoY Change 2.54% -0.14%

Cashflow Statement

Concept 2011 Q2 2010 Q2
OPERATING ACTIVITIES
Net Income $36.61M $33.00M
YoY Change 10.93% 120.0%
Depreciation, Depletion And Amortization $5.900M $6.500M
YoY Change -9.23% 47.73%
Cash From Operating Activities $32.20M $80.80M
YoY Change -60.15% 9.78%
INVESTING ACTIVITIES
Capital Expenditures -$4.600M -$1.600M
YoY Change 187.5% -80.49%
Acquisitions
YoY Change
Other Investing Activities $314.2M $206.8M
YoY Change 51.93% -232.9%
Cash From Investing Activities $309.6M $205.0M
YoY Change 51.02% -225.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -140.6M -400.9M
YoY Change -64.93% 16.07%
NET CHANGE
Cash From Operating Activities 32.20M 80.80M
Cash From Investing Activities 309.6M 205.0M
Cash From Financing Activities -140.6M -400.9M
Net Change In Cash 201.2M -115.1M
YoY Change -274.8% -73.58%
FREE CASH FLOW
Cash From Operating Activities $32.20M $80.80M
Capital Expenditures -$4.600M -$1.600M
Free Cash Flow $36.80M $82.40M
YoY Change -55.34% 0.73%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2011Q2 vly Weighted Average Remaining Expected Life Of Residential Mortgage Backed Securities Held To Maturity
WeightedAverageRemainingExpectedLifeOfResidentialMortgageBackedSecuritiesHeldToMaturity
6.60
CY2010Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-5719000
CY2011Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-10288000
CY2010Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1178325000
CY2011Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1176673000
CY2011Q2 us-gaap Allowance For Loan And Lease Losses Provision For Loss Net
AllowanceForLoanAndLeaseLossesProvisionForLossNet
5634000
us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
18521000
CY2011Q2 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
8485000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.34
CY2010Q4 us-gaap Treasury Stock Value
TreasuryStockValue
14245000
CY2011Q2 us-gaap Treasury Stock Value
TreasuryStockValue
6925000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
168922864
CY2011Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
91867000
CY2010Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.17
CY2010Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
79803000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.34
CY2011Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.17
CY2010Q4 us-gaap Common Stock Value
CommonStockValue
57041000
CY2011Q2 us-gaap Common Stock Value
CommonStockValue
59891000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.36
CY2010Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.43
CY2011Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.22
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.36
CY2010Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.22
CY2010Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
2487000
CY2011Q2 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
2700000
CY2010Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
105055000
CY2011Q2 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
113751000
CY2010Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
166081000
CY2011Q2 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
159266000
CY2010Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
154287000
CY2011Q2 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
173517000
CY2010Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2011Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2010Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
169013634
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
169766394
CY2011Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
169852912
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
168921009
CY2010Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
169009302
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
169757717
CY2011Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
169843354
vly Fdic Receivable Accretion
FdicReceivableAccretion
4987000
CY2010Q4 vly Financing Receivable Recorded Investment Current Non Covered Loans
FinancingReceivableRecordedInvestmentCurrentNonCoveredLoans
8843059000
CY2011Q2 vly Financing Receivable Recorded Investment Current Non Covered Loans
FinancingReceivableRecordedInvestmentCurrentNonCoveredLoans
9123333000
CY2010Q4 vly Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due
FinancingReceivableRecordedInvestmentThirtyToEightyNineDaysPastDue
58539000
CY2011Q2 vly Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due
FinancingReceivableRecordedInvestmentThirtyToEightyNineDaysPastDue
42815000
CY2010Q4 vly Impaired Financing Receivable Recorded Investment With No Related Allowance
ImpairedFinancingReceivableRecordedInvestmentWithNoRelatedAllowance
48570000
CY2011Q2 vly Impaired Financing Receivable Recorded Investment With No Related Allowance
ImpairedFinancingReceivableRecordedInvestmentWithNoRelatedAllowance
48131000
CY2010Q4 vly Impaired Financing Receivable Recorded Investment With Related Allowance
ImpairedFinancingReceivableRecordedInvestmentWithRelatedAllowance
105717000
CY2011Q2 vly Impaired Financing Receivable Recorded Investment With Related Allowance
ImpairedFinancingReceivableRecordedInvestmentWithRelatedAllowance
125386000
vly Increase Due To Impairment On Covered Loans
IncreaseDueToImpairmentOnCoveredLoans
16932000
vly Other Reimbursable Expenses From Fdic
OtherReimbursableExpensesFromFdic
1621000
CY2010Q4 vly Total Past Due Non Accrual And Current Non Covered Loans
TotalPastDueNonAccrualAndCurrentNonCoveredLoans
9009140000
CY2011Q2 vly Total Past Due Non Accrual And Current Non Covered Loans
TotalPastDueNonAccrualAndCurrentNonCoveredLoans
9282599000

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