Saturday, September 27, 2008

my bank is not in trouble!

Valley National Bank is doing ok in this credit market crisis.
I bank at Valley since it was a 6 branch, 2 city family bank in Passaic & Clifton - Bank of Passaic & Clifton.
VLY share price closed 21.48 Friday.
Valley's Credit Quality Focus on loan quality and profitability over growth. Proven record of superior asset quality throughout various economic cycles. Have always abstained from exotic residential mortgage structures and other volatile products, including sub-prime loans, option ARMs and high loan to value home equity and residential loans

September '08 Financial statement via Edgar Online

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