Valley National Bancorp Appoints New Chief Commercial Banking Officer
Ticker: VLYPN · Form: 8-K · Filed: Jun 7, 2024 · CIK: 714310
| Field | Detail |
|---|---|
| Company | Valley National Bancorp (VLYPN) |
| Form Type | 8-K |
| Filed Date | Jun 7, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, personnel
Related Tickers: VLY
TL;DR
VLY names Michael Hroncich as new EVP & Chief Commercial Banking Officer, effective immediately.
AI Summary
Valley National Bancorp announced on June 3, 2024, the appointment of Michael J. Hroncich as Executive Vice President and Chief Commercial Banking Officer, effective immediately. He will be responsible for leading the commercial banking division and driving its growth strategies. Hroncich previously served as Senior Executive Vice President and Head of Commercial Banking at Sterling National Bank.
Why It Matters
The appointment of a new Chief Commercial Banking Officer can signal a strategic shift or renewed focus on growing the bank's commercial lending and client services, potentially impacting its market share and profitability.
Risk Assessment
Risk Level: low — This filing primarily concerns an executive appointment, which is a routine corporate event and does not inherently present significant financial or operational risks.
Key Players & Entities
- Valley National Bancorp (company) — Registrant
- Michael J. Hroncich (person) — Appointed Executive Vice President and Chief Commercial Banking Officer
- Sterling National Bank (company) — Previous employer of Michael J. Hroncich
FAQ
What is the effective date of Michael J. Hroncich's appointment?
Michael J. Hroncich's appointment is effective immediately as of June 3, 2024.
What is Michael J. Hroncich's new role at Valley National Bancorp?
Michael J. Hroncich has been appointed as Executive Vice President and Chief Commercial Banking Officer.
What were Michael J. Hroncich's previous responsibilities?
Michael J. Hroncich previously served as Senior Executive Vice President and Head of Commercial Banking at Sterling National Bank.
What is the primary responsibility of the Chief Commercial Banking Officer at Valley National Bancorp?
The Chief Commercial Banking Officer is responsible for leading the commercial banking division and driving its growth strategies.
What is the filing date of this 8-K report?
This 8-K report was filed on June 7, 2024.
Filing Stats: 676 words · 3 min read · ~2 pages · Grade level 10.6 · Accepted 2024-06-07 08:03:15
Filing Documents
- vly-20240603.htm (8-K) — 35KB
- exhibit991060724form8k.htm (EX-99.1) — 14KB
- image_0.jpg (GRAPHIC) — 15KB
- 0000714310-24-000134.txt ( ) — 253KB
- vly-20240603.xsd (EX-101.SCH) — 3KB
- vly-20240603_def.xml (EX-101.DEF) — 18KB
- vly-20240603_lab.xml (EX-101.LAB) — 32KB
- vly-20240603_pre.xml (EX-101.PRE) — 18KB
- vly-20240603_htm.xml (XML) — 5KB
02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. (b) On June 3, 2024, Mr. Raja A. Dakkuri provided Valley National Bancorp (the "Company") with notice of his intent to resign from his position as Senior Executive Vice President—Chief Risk Officer of the Company effective June 21, 2024. Mr. Dakkuri has indicated that his resignation is due to his pursuit of another professional opportunity outside the banking industry, and not the result of any disagreement with the Company or the Company's Board of Directors (the "Board") on any matter relating to the operations, financial reporting, policies, or practices of the Company. The Board has appointed Mr. John P. Regan as Senior Executive Vice President—Chief Risk Officer of the Company effective following Mr. Dakkuri's resignation. Information regarding Mr. Regan's background and experience can be found in the Company's press release attached hereto as Exhibit 99.1.
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On June 7, 2024, the Company issued a press release related to the matters described in Item 5.02 hereof. A copy of the press release is attached as Exhibit 99.1 hereto. The information under this Item 7.01, including the press release attached hereto as Exhibit 99.1, is intended to be furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act regardless of any general incorporation language in such filing.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: June 03, 2024 VALLEY NATIONAL BANCORP By: /s/ Gary G. Michael Gary G. Michael Executive Vice President, General Counsel & Corporate Secretary