Valley National Bancorp Announces the Extension of Annual 2019 10-K Filing Due to a Personnel Change at Its Independent Audit...
March 03 2020 - 7:30AM
Valley National Bancorp (NASDAQ:VLY) (“Valley”) (the “Company”)
announced that its Annual Report on Form10-K for the year ended
December 31, 2019 will be delayed due to circumstances out of the
Company’s control and for reasons unrelated to matters concerning
Valley.
On Sunday, March 1, 2020, Valley was notified by KPMG LLP, the
Company’s independent public accounting firm, that the engagement
partner leading the audit of the Company’s financial statements,
for personal reasons, would be unable to finalize the audit for the
year ended December 31, 2019. The Company had earlier been
informed by KPMG that the audit was on schedule for timely
completion by March 2, 2020. KPMG has informed the Company
that it expects to be able to complete its necessary procedures to
provide its opinions and consents to the filing of Company’s Form
10-K within the 15 calendar day period following the due date of
the Form 10-K. Consequently, the Company is unable to timely
file its Form 10-K for the year ended December 31, 2019, but
expects to be able to file its Form 10-K before the end of the 15
calendar day period following the due date of the Form10-K.
As a result of these events, Valley anticipates its annual
meeting and record date for the annual meeting could be delayed and
will take all appropriate actions to update the public accordingly
when additional details become available.
About Valley As the principal subsidiary of
Valley, Valley National Bank is a regional bank with over $37
billion in assets. Valley is committed to giving people and
businesses the power to succeed. Valley operates many convenient
branch locations across New Jersey, New York, Florida and Alabama,
and is committed to providing the most convenient service, the
latest innovations and an experienced and knowledgeable team
dedicated to meeting customer needs. Helping communities grow and
prosper is the heart of Valley's corporate citizenship philosophy.
To learn more about Valley, go to www.valley.com or call our
Customer Service Center at 800-522-4100.
Contact: Valley National BancorpMichael
HagedornSenior Executive Vice President and Chief
Financial Officer973-872-4885
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