Valley National Bank, a Morristown-based subsidiary of Valley National Bancorp, continues to pass rigorous assessments conducted by the Comptroller of the Currency (OCC).
OCC issued the bank its third consecutive “Outstanding” rating on its most recent Community Reinvestment Act (CRA) exam, covering the 2022 – 2024 evaluation period.
The OCC evaluates national banks on how effectively they help meet the credit needs of their entire communities — including low-and moderate-income (LMI) individuals and neighborhoods.
The measured performance criteria included lending, investment, and service activities.
Valley’s commitment during the recent exam period included:
- $3.5 billion in community development loans to support affordable housing, economic development, community services, and the revitalization and stabilization of communities it serves.
- Investments of more than $750 million to support community development efforts, including nearly $300 million in New Markets Tax Credits to drive economic development and community revitalization.
- Originating more than 950 Community mortgages totaling $355 million, supporting first-time LMI homebuyers and home purchases in LMI communities.
- Valley associated extended more than 23,000 volunteer hours in support of organizations serving LMI individuals, communities, and small businesses.
Last week, Valley National Bank released its second annual survey, Entering 2026 With Momentum. It revealed a paradoxical landscape of high internal productivity coupled with rising global uncertainty.
The survey polled 500 financial decision-makers at companies with revenues between $5 million and $249 million and showed that while 2025 was a banner year for growth, “execution gaps” in core financial management could pose risks in the coming months.
In May, OCC reported that Cherry Hill-based TD Bank announced it was closing five New Jersey branches in June as part of its normal business practices.
