DBRS: Valley unchanged

DBRS said that the ratings of Valley National Bancorp. are unchanged following 2Q12 earnings.

The agency said it rates the company's issuer & senior debt at A (low) with a stable trend.

Positively, DBRS said that Valley delivered strong core loan growth, controlled expenses, maintained sound asset quality and management noted that they believe Valley is already compliant with Basel III regulatory capital requirements.

Nonetheless, Valley's margin compressed significantly during the quarter and contributed to a $5.3 million decline in net interest income, the agency said.

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