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Overview / Commentary
800-522-4100
615 Main Avenue
Passaic, NJ 07055

Valley National Bank engages in personal, commercial, corporate and institutional banking and offers depository products, loans, and insurance options to its customers and potential customers.

The bank makes several checking and savings accounts available, which include basic and senior checking as well as health and children’s savings accounts. Money Market accounts are available and differ from the savings accounts with regard to account requirements. CDs and IRA CDs are also offered with term lengths ranging from 7 days to 72 months.

Valley National Bank online banking is called VBankWorks and gives customers access to free online account management services. It offers them the ability to check account balances, view transaction history, transfer funds, and pay bills.

Valley National Bank was originally established in 1927 as the Passaic Park Trust Company, before changing to its current name in 1976. It is headquartered in Waynen, New Jersey and is the principal subsidiary of Valley National Bancorp, operating hundreds of branches predominantly in the states of New Jersey and New York.

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Horrible Bank - Stay Away

Last year I opened up an account with Valley National in Landing, NJ.  I had been with TD Bank/Commerce Bank for years prior, but moved to Blairstown last year and wanted a bank close by my work and new home, since there were no local branches of TD Bank nearby.  Well, I could not believe the horrible service I would get from Valley National!  They were not honest about the funds availability schedule when I opened my account, and held on to my money for an excessive amount of time, even though the checks had already cleared.  When I complained to the branch, they were not even apologetic that it was not made clear to me when opening the account, and were visibly annoyed that I had the nerve to complain.  They assured me that if I had funds deposited via cash or direct deposit, the money would not be held unavailable like that.  So, I had my child support direct deposited into their bank.  Well, guess what?  They lied again!  A deposit that was made on 9/8 from child support via direct deposit still has HALF of the funds not available!  That is totally unacceptable!  I NEVER had any issues with funds availability with TD Banik or any other bank I have ever dealt with in my life.  I guess customer service is not a priority in this area--I can't believe that such an awful bank can even stay in business.  Then again, when I pass the Fredon branch or the Blairstown branch, I rarely ever see cars in the parking lot.  Maybe that says something.  Anyway...I plan to have my money direct deposited elsewhere...there HAS to be a better local bank than Valley National.  I've heard First Hope Bank is good, I may try them and see.  I can't imagine the service can be any worse than what I've gotten with Valley National.

NO HELP WHEN YOU HAVE A PROBLEM

I have been banking at my branch for over 30 or so years. Valley purchased Prospect Park Savings many years ago.The branch was a pleasure to deal with, because people at the branch, could solve a problem if you had one.I recently ran into a problem with one of my accounts that they changed the monthy balance from $500.00 to $999.00.No notices were sent out by the bank for this change and since they stopped sending out hard copies every month I was charged a $25.00 service charge for this change in bank policy.The 2 girls at my branch were no help at all in solving this problem.After numerous calls to customer service I was able to talk to a supervisor who was able to reverse the charge and get me back on getting a hard copy of my statements every month. The tellers are great people,but have no use for the 2 so-called branch managers.

Don't Ever Get A Car Loan From Them

I got a overpriced loan for my Honda in 2007. When the economy went sour in 2008, I was unable to make prompt payments.This bank's main office called my business and personal # at least 2 to 3 times a day for months. After getting a phone call from an very rude gentleman, who got me to tears twice I stopped taking their calls. They received a monthly payment with late payments each month with the late payment fee. I was unable to get ahead with payments and this bank did not want to find a solution. I even attempted to add $50 to 5 payments, and was told that this would come off my principle. Now I am at last at my last payment , and was told the payment is 2X the normal payment. I was informed that they had added interest each day it was late, a "Late payment on the interest".  I am sending them them the check today, but not without the final word. If you read this, don't bank with them ! Their collections department staff is nasty to say the least. They are not there to work out solutions to problems their customers may have. The are the rudest collection department of a bank that I have ever dealt with ( and I did deal with other banks at this period of time that did not treat their customers like that!)

Wasn't Pleased

Out of date technology and rude customer service for my car loan.

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Health

Data for Q1 2014

Institution Health

A

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Valley National Bank had $134.84 million in non-current loans and owned real-estate with $1.81 billion in equity and loan loss allowances on hand to cover it. This gives Valley National Bank a Texas Ratio of 7.46% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A

The Texas Ratio for Valley National Bank decreased dramatically from 10.67% as of March 31, 2013 to 7.46% as of March 31, 2014, resulting in a positive change of 30.10%.This indicates that the balance sheet and financial strength for Valley National Bank has improved dramatically in recent periods.

Deposit Growth

GRADE:
C+

In the past year, Valley National Bank has decreased its total deposits by -$53.66 million, resulting in -0.47% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Valley National Bank has shown is average.

Capitalization

GRADE:
A

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Valley National Bank has $16.33 billion in assets with $1.81 billion in equity, resulting in a capitalization level of 11.07%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #9396
Year Established1927
Employees2688
Primary RegulatorOCC
Assets and Liabilities
Assets$16.33 billion
Loans$11.62 billion
Deposits$11.30 billion
Equity Capital$1.70 billion
Loan Loss Allowance$106.71 million
Unbacked Noncurrent Loans$118.16 million
Real Estate Owned$16.67 million
Historic Data - March 2013
Assets$16.01 billion
Equity Capital$1.66 billion
Loan Loss Allowance$121.84 million
Unbacked Noncurrent Loans$118.16 million
Real Estate Owned$18.46 million
Profit Margin - Quarterly
Net Interest Margin3.24%
Return on Assets0.87%
Return on Equity8.33%
Interest Income$153.04 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Valley National Bank, we are a rate comparison website and can not provide official rates or promotions.

Valley National Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.05%--Kids First Savings Club Account
0.04%$1k-Golden Passbook Savings
0.04%$1k-Golden Statement Savings
0.03%$1k-Regular Passbook Savings
0.03%$1k-Regular Statement Savings

Valley National Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.80%$5m-Prime Advantage MMA
0.25%$100k-Tiered Money Market IRA
0.25%$100k-Tiered Money Market Roth IRA
0.25%$100k-Tiered Money Market Educational IRA
0.05%--Money Market Checking

Valley National Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.02%--NOW Accounts

Valley National Bank CD Rates

DetailsAPYMINMAXPRODUCT
2.02%$100k-66 Month Single Maturity CD
2.02%$100k-66 Month Multiple Maturity CD
2.02%$100k-Business 66 Month Multiple Maturity CD
2.02%$100k-Business 66 Month Single Maturity CD
1.77%$500$500k66 Month Stepped Rate Passbook CD
1.77%$500$500k66 Month Stepped Rate Multiple Maturity CD
1.77%$500$500kBusiness 66 Month Stepped Rate Multiple Maturity CD
1.77%$500$500kBusiness 66 Month Stepped Rate Passbook CD
1.65%$500$500k5 Year High Yield Multiple Maturity CD
1.65%$500$500k5 Year High Yield Passbook CD
1.65%$500$500kBusiness 5 Year High Yield Multiple Maturity CD
1.65%$500$500kBusiness 5 Year High Yield Passbook CD
1.05%$500$500k48 Month Multiple Maturity CD
1.05%$500$500k48 Month Passbook CD
1.05%$500$500kBusiness 48 Month Multiple Maturity CD
1.05%$500$500kBusiness 48 Month Passbook CD
0.95%$500$500k36 Month Multiple Maturity CD
0.95%$500$500k36 Month Passbook CD
0.95%$500$500kBusiness 36 Month Multiple Maturity CD
0.95%$500$500kBusiness 36 Month Passbook CD
0.80%$500$500k30 Months Multiple Maturity CD
0.80%$500$500k30 Months Passbook CD
0.80%$500$500kBusiness 30 Months Multiple Maturity CD
0.80%$500$500kBusiness 30 Months Passbook CD
0.75%$500$500k24 Month Multiple Maturity CD
0.75%$500$500k24 Month Passbook CD
0.75%$500$500kBusiness 24 Month Multiple Maturity CD
0.75%$500$500kBusiness 24 Month Passbook CD
0.65%$500$500k18 Months Multiple Maturity CD
0.65%$500$500k18 Months Passbook CD
0.65%$500$500kBusiness 18 Months Multiple Maturity CD
0.65%$500$500kBusiness 18 Months Passbook CD
0.60%$500$500k13 Month Passbook CD
0.60%$500$500k13 Month Multiple Maturity CD
0.60%$500$500kBusiness 13 Month Passbook CD
0.60%$500$500kBusiness 13 Month Mu,tiple Maturity CD
0.55%$500$500k9 Months Multiple Maturity CD
0.55%$500$500k9 Months Passbook CD
0.55%$500$500kBusiness 9 Months Multiple Maturity CD
0.55%$500$500kBusiness 9 Months Passbook CD
0.30%$500$500k60 Month Multiple Maturity CD
0.30%$500$500k72 Month Multiple Maturity CD
0.30%$500$500k60 Month Passbook CD
0.30%$500$500k72 Month Passbook CD
0.30%$500$500kBusiness 60 Month Multiple Maturity CD
0.30%$500$500kBusiness 60 Month Passbook CD
0.30%$500$500kBusiness 72 Month Multiple Maturity CD
0.30%$500$500kBusiness 72 Month Passbook CD
0.25%$100k-6 Months Single Maturity CD
0.25%$100k-Business 6 Months Single Maturity CD
0.25%$100k-6 Months Multiple Maturity CD
0.25%$100k-Business 6 Months Multiple Maturity CD
0.20%$500$500k91 Days Multiple Maturity CD
0.20%$100k-3 Months Single Maturity CD
0.20%$500$500k91 Days Passbook CD
0.20%$100k-Business 3 Months Single Maturity CD
0.20%$500$500kBusiness 91 Days Multiple Maturity CD
0.20%$500$500kBusiness 91 Days Passbook CD
0.20%$100k-3 Months Multiple Maturity CD
0.20%$100k-Business 3 Months Multiple Maturity CD
0.15%$500$500k12 Month Multiple Maturity CD
0.15%$100k-2 Months Single Maturity CD
0.15%$500$500k12 Month Passbook CD
0.15%$100k-Business 2 Months Single Maturity CD
0.15%$500$500kBusiness 12 Month Multiple Maturity CD
0.15%$500$500kBusiness 12 Month Passbook CD
0.15%$100k-2 Months Multiple Maturity CD
0.15%$100k-Business 2 Months Multiple Maturity CD
0.10%$500$500k6 Months Multiple Maturity CD
0.10%$100k-7 Days Single Maturity CD
0.10%$100k-14 Days Single Maturity CD
0.10%$500$500k6 Months Passbook CD
0.10%$100k-Business 7 Days Single Maturity CD
0.10%$100k-Business 14 Days Single Maturity CD
0.10%$500$500kBusiness 6 Months Multiple Maturity CD
0.10%$500$500kBusiness 6 Months Passbook CD
0.10%$100k-7 Days Multiple Maturity CD
0.10%$100k-Business 7 Days Multiple Maturity CD
0.10%$100k-14 Days Multiple Maturity CD
0.10%$100k-Business 14 Days Multiple Maturity CD

Valley National Bank IRA Rates

DetailsAPYMINMAXPRODUCT
2.25%$250-6 Year IRA
2.00%$250-5 Year IRA
1.60%$250-4 Year IRA
1.40%$250-3 Year IRA
1.20%$250-30 Month IRA
1.00%$250-2 Year IRA
0.80%$250-18 Month IRA
0.60%$250-1 Year IRA
0.40%$250-6 Month IRA
0.10%$250-18 Month FLOATING IRA
Locations

Valley National Bank has 215 locations. Click to view all Valley National Bank locations.