Balance Sheet Offsetting (Tables)

12 Months Ended

Dec. 31, 2015

Offsetting [Abstract]

Summary of Valley's Financial Instruments that are Eligible for Offset, Assets

The table below presents information about Valley’s financial instruments that are eligible for offset in the consolidated statements of financial condition as of December 31, 2015 and 2014.

							Gross Amounts Not Offset
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments			Cash Collateral				Net Amount
	(in thousands)
December 31, 2015
Assets:
Interest rate caps and swaps	$	33,570	$	—	$	33,570	$	(8,942	)	$	—			$	24,628
Liabilities:
Interest rate caps and swaps	$	50,752	$	—	$	50,752	$	(8,942	)	$	(41,810	)		$	—
Repurchase agreements	475,000		—		475,000		—			(475,000		)	*	—
Total	$	525,752	$	—	$	525,752	$	(8,942	)	$	(516,810	)		$	—
December 31, 2014
Assets:
Interest rate caps and swaps	$	20,950	$	—	$	20,950	$	(8,504	)	$	—			$	12,446
Liabilities:
Interest rate caps and swaps	$	33,239	$	—	$	33,239	$	(8,504	)	$	(24,735	)		$	—
Repurchase agreements	395,000		—		395,000		—			(395,000		)	*	—
Total	$	428,239	$	—	$	428,239	$	(8,504	)	$	(419,735	)		$	—

*    Represents fair value of non-cash pledged investment securities.

Summary of Valley's Financial Instruments that are Eligible for Offset, Liabilities

The table below presents information about Valley’s financial instruments that are eligible for offset in the consolidated statements of financial condition as of December 31, 2015 and 2014.

							Gross Amounts Not Offset
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments			Cash Collateral				Net Amount
	(in thousands)
December 31, 2015
Assets:
Interest rate caps and swaps	$	33,570	$	—	$	33,570	$	(8,942	)	$	—			$	24,628
Liabilities:
Interest rate caps and swaps	$	50,752	$	—	$	50,752	$	(8,942	)	$	(41,810	)		$	—
Repurchase agreements	475,000		—		475,000		—			(475,000		)	*	—
Total	$	525,752	$	—	$	525,752	$	(8,942	)	$	(516,810	)		$	—
December 31, 2014
Assets:
Interest rate caps and swaps	$	20,950	$	—	$	20,950	$	(8,504	)	$	—			$	12,446
Liabilities:
Interest rate caps and swaps	$	33,239	$	—	$	33,239	$	(8,504	)	$	(24,735	)		$	—
Repurchase agreements	395,000		—		395,000		—			(395,000		)	*	—
Total	$	428,239	$	—	$	428,239	$	(8,504	)	$	(419,735	)		$	—

*    Represents fair value of non-cash pledged investment securities.