NEW YORK (AP) _ Valley National Bancorp (VLY) on Thursday reported fourth-quarter earnings of $38.1 million.

The bank, based in New York, said it had earnings of 10 cents per share. Earnings, adjusted to extinguish debt and for pretax expenses, were 24 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.

The holding company for Valley National Bank posted revenue of $381.9 million in the period. Its revenue net of interest expense was $276.6 million, also exceeding Street forecasts.

For the year, the company reported profit of $309.8 million, or 87 cents per share. Revenue was reported as $1.11 billion.

Valley National shares have fallen roughly 5% since the beginning of the year. The stock has increased slightly more than 5% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VLY at https://www.zacks.com/ap/VLY

Automated Insights, source Associated Press News