Valley National Bancorp is a regional bank holding company headquartered in Morristown, New Jersey. Its principal subsidiary, Valley National Bank, operates 230 branches across New Jersey, New York, Florida, Alabama, California, and Illinois. Valley's core business is commercial and consumer banking — taking deposits from and lending to individuals, small businesses, and middle-market companies, with a heavy emphasis on commercial real estate and C&I lending. Valley makes money primarily through net interest income, the spread between what it earns on loans and what it pays on deposits and borrowings. The loan book is approximately $50B, with CRE (including construction) making up roughly 58% of loans and C&I at roughly 22%. Valley also generates fee income through treasury management, capital markets, wealth management, and tax credit advisory services. Over the past several years, Valley has been transforming from a CRE-heavy, wholesale-funded institution into a more diversified, relationship-focused commercial bank. The key pillars of this shift include growing core commercial deposits to replace expensive brokered deposits and FHLB borrowings, expanding C&I lending through both relationship bankers in core markets and national specialty verticals like healthcare and fund finance, and growing fee income. Geographically, Valley is the largest commercial bank headquartered in New Jersey, with New York, Florida, and New Jersey representing the bulk of its loan portfolio. Valley argues it occupies a niche as a large community bank — responsive enough to compete with smaller banks on service, but with sufficient product breadth to compete with larger regionals.