Balance Sheet Offsetting (Tables)

3 Months Ended

Mar. 31, 2022

Offsetting [Abstract]

Offsetting Assets

The table below presents information about Valley’s financial instruments eligible for offset in the consolidated statements of financial condition as of March 31, 2022 and December 31, 2021.

							Gross Amounts Not Offset
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments		Cash Collateral *		Net Amount
	(in thousands)
March 31, 2022
Assets
Interest rate swaps	$	172,983	$	—	$	172,983	$	12,555	$	117,289	$	43,139
Liabilities
Interest rate swaps	$	188,244	$	—	$	188,244	$	(12,555)	$	(2,323)	$	173,366
December 31, 2021
Assets
Interest rate swaps	$	181,012	$	—	$	181,012	$	—	$	—	$	181,012
Liabilities
Interest rate swaps	$	50,922	$	—	$	50,922	$	—	$	(44,231)	$	6,691

*    Cash collateral received (pledged) to our counterparties in relation to market value exposures of OTC derivative contacts in a liability position.

Offsetting Liabilities

The table below presents information about Valley’s financial instruments eligible for offset in the consolidated statements of financial condition as of March 31, 2022 and December 31, 2021.

							Gross Amounts Not Offset
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments		Cash Collateral *		Net Amount
	(in thousands)
March 31, 2022
Assets
Interest rate swaps	$	172,983	$	—	$	172,983	$	12,555	$	117,289	$	43,139
Liabilities
Interest rate swaps	$	188,244	$	—	$	188,244	$	(12,555)	$	(2,323)	$	173,366
December 31, 2021
Assets
Interest rate swaps	$	181,012	$	—	$	181,012	$	—	$	—	$	181,012
Liabilities
Interest rate swaps	$	50,922	$	—	$	50,922	$	—	$	(44,231)	$	6,691

*    Cash collateral received (pledged) to our counterparties in relation to market value exposures of OTC derivative contacts in a liability position.