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Context from Wikipedia on the organisations, people and places in this story.
Regional bank holding company
Valley National Bancorp, doing business as Valley Bank, is a regional bank holding company headquartered in Morristown, New Jersey, with approximately $64 billion in assets. Its principal subsidiary, Valley National Bank, currently operates over 230 branch locations and commercial banking offices across New Jersey, New York, Florida, Alabama, California, and Illinois. Valley Bank is one of the largest commercial banks headquartered in New Jersey.
More on Wikipedia ↗A shift away from unit-linked products helped lift margins, while embedded value climbed to ₹76.22bn (US$796.4m).