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[timhyma]

Valley National Bancorp (VLY), the holding company for Valley National Bank, today reported net income for the fourth quarter of 2015 of $4.7 million, or $0.01 per diluted common share as compared to the fourth quarter of 2014 earnings of $25.1 million, or $0.11 per diluted common share. The 2015 fourth quarter earnings included several infrequent items highlighted in the section below, including a previously disclosed $51.1 million loss on the extinguishment of higher cost debt.

Net income for the year ended December 31, 2015 was $103.0 million, or $0.42 per diluted common share, compared to 2014 earnings of $116.2 million, or $0.56 per diluted common share.