• Valley National Bancorp average gross margin for 2023 was 65.89%, a 27.34% decline from 2022.
• Valley National Bancorp average gross margin for 2022 was 90.68%, a 1.68% decline from 2021.
• Valley National Bancorp average gross margin for 2021 was 89.18%, a 14.94% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.