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Balance Sheet Offsetting (Tables)
 9 Months Ended
Sep. 30, 2017
Offsetting [Abstract]  
Gross Presentation Effects of Offsetting and Net Presentation of Valley's Financial Instruments
The table below presents information about Valley’s financial instruments that are eligible for offset in the consolidated statements of financial condition as of September 30, 2017 and December 31, 2016.
 
 
 
 
 
 
 
Gross Amounts Not Offset
 
 
 
Gross Amounts
Recognized
 
Gross Amounts
Offset
 
Net Amounts
Presented
 
Financial
Instruments
 
Cash
Collateral
 
Net
Amount
 
(in thousands)
September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
Interest rate caps and swaps
$
26,513

 
$
—

 
$
26,513

 
$
(3,509
)
 
$
—

 
$
23,004

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
Interest rate caps and swaps
$
23,734

 
$
—

 
$
23,734

 
$
(3,509
)
 
$
(10,187
)
(1) 
$
10,038

Repurchase agreements
200,000

 
—

 
200,000

 
—

 
(200,000
)
(2) 
—

Total
$
223,734

 
$
—

 
$
223,734

 
$
(3,509
)
 
$
(210,187
)
 
$
10,038

December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
Interest rate caps and swaps
$
26,087

 
$
—

 
$
26,087

 
$
(5,268
)
 
$
—

 
$
20,819

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
Interest rate caps and swaps
$
41,911

 
$
—

 
$
41,911

 
$
(5,268
)
 
$
(36,643
)
(1) 
$
—

Repurchase agreements
165,000

 
—

 
165,000

 
—

 
(165,000
)
(2) 
—

Total
$
206,911

 
$
—

 
$
206,911

 
$
(5,268
)
 
$
(201,643
)
 
$
—

 
(1)
Represents the amount of collateral posted with derivatives counterparties that offsets net liabilities. Actual cash collateral posted with all counterparties totaled $57.7 million and $52.4 million at September 30, 2017 and December 31, 2016, respectively.
(2)
Represents the fair value of non-cash pledged investment securities.