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Valley National Bancorp Announces First Quarter 2024 Results

Retrieved on:

Thursday, April 25, 2024

Sale, Table, Investment, Credit, FHLB, Commercial, Insurance, Collection, Bank Leumi, ROA, Environment, Valley Bank, VLY, NPAS, Asset, Trust, FDIC, Government, NOW, Income tax, Bank

NEW YORK, April 25, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY), the holding company for Valley National Bank, today reported net income for the first quarter 2024 of $96.3 million, or $0.18 per diluted common share, as compared to the fourth quarter 2023 net income of $71.6 million, or $0.13 per diluted common share, and net income of $146.6 million, or $0.28 per diluted common share, for the first quarter 2023.

Key Points:

NEW YORK, April 25, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY), the holding company for Valley National Bank, today reported net income for the first quarter 2024 of $96.3 million, or $0.18 per diluted common share, as compared to the fourth quarter 2023 net income of $71.6 million, or $0.13 per diluted common share, and net income of $146.6 million, or $0.28 per diluted common share, for the first quarter 2023.
During the first quarter 2024, we recorded a provision for credit losses for loans of $45.3 million as compared to $20.7 million and $9.5 million for the fourth quarter 2023 and first quarter 2023, respectively.
Net loan charge-offs totaled $23.6 million for the first quarter 2024 as compared to $17.5 million and $30.4 million for the fourth quarter 2023 and first quarter 2023, respectively.
During the first quarter 2024, we also transferred $34.1 million of construction loans to loans held for sale at March 31, 2024.

On the Heels of Raising $500M in New Funds, Team8 Establishes a Roadmap for Fintech in 2030 and Beyond

Retrieved on:

Wednesday, April 17, 2024

And What Could Change Everything?

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And What Could Change Everything?
The report was created by Team8’s fintech leadership team composed of experienced founders and executives at companies such as Mastercard, Bank Leumi, eToro, PayPal, and JPMorgan.
Developments in GenAI could allow incumbents to drastically speed up development on legacy infrastructure, leading to faster innovation and negating much of this advantage.
- Embedded Finance Transforming Traditional Industries: Embedded finance has begun to transform traditional companies in certain industries into fintech companies, and this trend is likely to expand further into additional industries like brick-and-mortar, government, and non-profits.

Azrieli Group Reports Q4/2023 and Y2023 Results

Retrieved on:

Thursday, March 21, 2024

Growth, Azrieli Group, Property, Azrieli, Iron, Sale, Question and Answer, CBD, Bank Leumi, NOI, Bank statement, Investment, Lehavim, FFO

NIS 1 billion

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NIS 1 billion
Danna Azrieli, Chairwoman of Azrieli Group: “2023 was a challenging year for Israeli society, even before the outbreak of the Iron Swords War.
Eyal Henkin, CEO of Azrieli Group: “We are ending a year full of activity and continued growth, with the relief given to the tenants of our malls due to the Iron Swords War having had a relatively moderate impact on the Q4 results.
NOI in Y2023 was up around 8% and totaled some NIS 2,113 million, compared with some NIS 1,953 million year-over-year.
The accounting effects of the transaction were recorded in Q4, and the operating results of Compass are not included starting from Q3/2023 results.

Bank Leumi concludes 2023 with a net income of approx. NIS 7 billion ($1.93 billion)

Retrieved on:

Tuesday, March 19, 2024

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Net income in 2023, net of the one-off deduction recorded in the first quarter with respect to the investment value in Valley National Bank totaled NIS 8.1 billion ($2.23 billion).

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Net income in 2023, net of the one-off deduction recorded in the first quarter with respect to the investment value in Valley National Bank totaled NIS 8.1 billion ($2.23 billion).
Net credit to the public as at December 31, 2023 totaled NIS 419.5 billion ($115.7 billion), compared to NIS 384.8 billion (106.1 billion) as at December 31, 2022 - a 9.02% increase.
Credit to retail customers as at December 31, 2023 totaled NIS 30.2 billion ($8.3 billion), compared to NIS 32.5 billion ($9.0 billion) as at December 31, 2022 - 7.08% decrease.
Credit to small businesses as at December 31, 2023 totaled NIS 26.2 billion ($7.2 billion), compared to NIS 26.7 billion ($7.4 billion) as at December 31, 2022 - a 1.87% decrease.

AU10TIX Strengthens Leadership Team with Seven Key Appointments Over Past Year, Accelerating Growth Strategy

Retrieved on:

Wednesday, February 7, 2024

Growth, HP, Cellebrite, CFO, Lamdan, Senior, CMO, History, International, Check Point, TEL, CA Technologies, Tech Mahindra, Tax, Metasploit, Marketing, Bank Leumi, Microsoft, FP, OTT, IronSource, HR, AU10TIX, Alcatel-Lucent, EY, Management

These appointments are a strategic response to AU10TIX's significant growth and continuing global expansion.

Key Points:

These appointments are a strategic response to AU10TIX's significant growth and continuing global expansion.
She is responsible for business development, sales, customer retention, loyalty, and customer experience across all facets of the company's operations.
"We are thrilled to have these seven talented leaders on the AU10TIX team as we prepare for another year of extraordinary growth," said Dan Yerushalmi, CEO of AU10TIX.
"This strategic expansion underscores AU10TIX's commitment to innovation, excellence, and continued leadership in the digital identity verification landscape."

Vintage Investment Partners Announces Two New Members of Its Strategic Advisory Board

Retrieved on:

Tuesday, January 30, 2024

Dr. Haj-Yehia served between 2019-2023 as Executive Group Chairman of Bank Leumi, the largest and oldest bank in Israel.

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Dr. Haj-Yehia served between 2019-2023 as Executive Group Chairman of Bank Leumi, the largest and oldest bank in Israel.
"I am thrilled to have Samer and Andy join our Strategic Advisory Board.
More importantly, both bring unique experience and perspectives to Vintage that we are thrilled to tap", said Alan Feld, Founder and Co-Managing Partner of Vintage.
The other members of the Vintage SAB include: Bradley Bloom, Former Chairman and Co-Founder of Berkshire Partners, Mark Dubowitz, CEO, Foundation for the Defense of Democracies, Ambassador S. Fitzgerald Haney, Former U.S.

Banking Veteran Steven Caligor Joins Greystone as Senior Managing Director, Structured Finance

Retrieved on:

Monday, January 8, 2024

Acquisition, Structured finance, Senior, Signature Bank, Bank Hapoalim, Bank Leumi, History, BHI, Financial services

NEW YORK, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, announced that banking industry veteran Steven Caligor has joined the firm as a Senior Managing Director of Structured Finance.

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NEW YORK, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, announced that banking industry veteran Steven Caligor has joined the firm as a Senior Managing Director of Structured Finance.
In this new role, he will focus on managing and expanding client relationships and channels of loan origination for Greystone within the banking sector.
“This is an exciting new challenge for me to leverage my commercial banking, real estate, and healthcare experience within Greystone’s diverse product platform,” said Mr. Caligor.
“The banking sector is invaluable to private lenders like Greystone and there is so much opportunity for new avenues of capital access, client acquisition and financial partnerships.

Azrieli Group Reports Q3/2023 Results

Retrieved on:

Monday, November 27, 2023

Bank Leumi, Sale, Azrieli Group, TEL, Hope, CPI, Motion, Commerce, Growth, Investment, NOI, Commercial property

The increase was partially offset by non-inclusion of Compass’s results already in the current quarter.

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The increase was partially offset by non-inclusion of Compass’s results already in the current quarter.
TEL AVIV, Israel, Nov. 27, 2023 (GLOBE NEWSWIRE) -- Danna Azrieli, Chairwoman of Azrieli Group, said: “The State of Israel is in the midst of a war, and Azrieli Group is entirely committed to the effort and to civil aid on all fronts.
We will continue acting on this commitment while maintaining financial strength and responsible conduct in these challenging times, which create both a complex business environment and opportunities.”
Eyal Henkin, CEO of Azrieli Group, said: “As we mobilize and provide resources, Azrieli Group is closing another good quarter with continued growth in all parameters.
The sale of the Group’s minority holdings in Compass reflects a gross yield of x2.5 on the investment (in total, Azrieli Group invested in Compass approx.

Valley National Bank Promotes Russell Barrett to Senior Executive Vice President, Chief Operations Officer

Retrieved on:

Tuesday, December 19, 2023

Banking, Professional Services, Finance, BNP Paribas, Lead, VLY, Bank Leumi, CIO, Valley Bank, Data management, National bank, Senior, Management

Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NASDAQ:VLY), announced today the promotion of Russell Barrett to Senior Executive Vice President, Chief Operations Officer (COO).

Key Points:

Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NASDAQ:VLY), announced today the promotion of Russell Barrett to Senior Executive Vice President, Chief Operations Officer (COO).
Barrett joined Valley in 2021 and served as the Chief Transformation Officer the past two years, overseeing the Bank’s enterprise change and transformation efforts and leading Valley’s successful core conversion initiative this past year.
Prior to that, Barrett led Bank Leumi USA’s technology and strategic digital transformation efforts as CIO.
As Valley’s new COO, Barrett will play a critical role working with Valley’s senior executive leadership team to deliver the bank’s strategic vision.

Lemonade Names Deb Schwartz and Dr. Samer Haj-Yehia to its Board of Directors

Retrieved on:

Tuesday, November 21, 2023

Lemonade (NYSE: LMND) (the “Company”), the digital insurance company powered by AI and social impact, announced it has named two new members to its Board of Directors, Deb Schwartz and Dr. Samer Haj-Yehia, effective immediately.

Key Points:

Lemonade (NYSE: LMND) (the “Company”), the digital insurance company powered by AI and social impact, announced it has named two new members to its Board of Directors, Deb Schwartz and Dr. Samer Haj-Yehia, effective immediately.
The newly named Directors will succeed departing Directors Irina Novoselsky and Silvija Martincevic.
Deb previously served as CFO at Cameo, the celebrity video shoutout pioneer, and at Bustle Digital Group, the digital media provider.
Along with Deb and Samer, Lemonade’s current Board is composed of Lemonade co-Founders Daniel Schreiber and Shai Wininger, as well as Michael Eisenberg (Partner, Aleph) and Shu Nyatta (Founder/Managing Partner, Bicycle Capital).