Item 2. Properties
Item 2. Properties
We conduct our business at 231 retail banking centers locations in northern and central New Jersey, the New York City boroughs of Manhattan, Brooklyn and Queens, Long Island, Westchester County, New York, Florida, Alabama, California and Illinois. We own 96 of our banking center facilities and several non-branch operating facilities. The other properties are leased for various terms. Valley considers its properties to be suitable and adequate for its current business needs .
The following table summarizes our leased and owned retail banking centers in each state:
Leased Owned Number of banking centers % of Total
New Jersey
Northern 56 45 101 43.7
Central 13 14 27 11.7
Total New Jersey 69 59 128 55.4
New York
Manhattan, Brooklyn and Queens 16 7 23 10.0
Long Island 9 3 12 5.2
Westchester County 7 0 7 3.0
Total New York 32 10 42 18.2
Florida 27 15 42 18.2
Alabama 4 12 16 6.9
California 2 0 2 0.9
Illinois 1 0 1 0.4
Total 135 96 231 100.0 %
Our principal executive office is located at One Penn Plaza in Manhattan, New York. Many of our bank operations are located in Wayne, New Jersey, where we own five office buildings. Our New York City corporate headquarters are primarily used as a central hub for New York based lending activities of senior executives and other commercial lenders. Additionally, we acquired two leased offices in New York City from Bank Leumi USA that are primarily used for commercial lending and
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2022 Form 10-K
our broker-dealer, VFM. We also lease six non-bank office facilities in Florida, used for operational, executive and lending purposes.
Additional information regarding Valley's leased locations and owned facilities can be found within Note 6. Leases and Note 7. Premises and Equipment, Net in the Notes to the Consolidated Financial Statements contained in Part II - Item 8. Financial Statements and Supplementary Data, respectively.
Item 3. Legal Proceedings
In the normal course of business, we are a party to various outstanding legal proceedings and claims. In the opinion of management, our financial condition, results of operations, and liquidity should not be materially affected by the outcome of such legal proceedings and claims.
Item 4. Mine and Safety Disclosures
Not applicable.
PART II
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.