Valley National Bank ended 2013 with $901.4 million of auto loans on its books, a 14.6% increase from yearend 2012, the bank reported yesterday. Wayne, N.J.-based Valley National originated $38.6 million loans in the fourth quarter, noting that loan volume “remained strong” throughout most of the year.
Last year, Valley National bought $21.5 million of auto loans from third-party originators, though all the purchases occurred in the first nine months.