Balance Sheet Offsetting (Tables)

9 Months Ended

Sep. 30, 2024

The table below presents information about Valley’s financial instruments eligible for offset in the consolidated statements of financial condition as of September 30, 2024 and December 31, 2023.


							Gross Amounts Not Offset
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments		Cash Collateral *		Net Amount
	(in thousands)
September 30, 2024
Assets
Interest rate swaps and other contracts	$	298,010	$	—	$	298,010	$	51,815	$	(172,500)	$	177,325
Liabilities
Interest rate swaps and other contracts	$	306,776	$	—	$	306,776	$	(51,815)	$	—	$	254,961


December 31, 2023
Assets
Interest rate swaps and other contracts	$	458,129	$	—	$	458,129	$	53,780	$	(302,180)	$	209,729
Liabilities
Interest rate swaps and other contracts	$	479,345	$	—	$	479,345	$	(53,780)	$	—	$	425,565

* Cash collateral received from or pledged to our counterparties in relation to market value exposures of OTC derivative contracts in an asset/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 September 30, 2024 and December 31, 2023.


							Gross Amounts Not Offset
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments		Cash Collateral *		Net Amount
	(in thousands)
September 30, 2024
Assets
Interest rate swaps and other contracts	$	298,010	$	—	$	298,010	$	51,815	$	(172,500)	$	177,325
Liabilities
Interest rate swaps and other contracts	$	306,776	$	—	$	306,776	$	(51,815)	$	—	$	254,961


December 31, 2023
Assets
Interest rate swaps and other contracts	$	458,129	$	—	$	458,129	$	53,780	$	(302,180)	$	209,729
Liabilities
Interest rate swaps and other contracts	$	479,345	$	—	$	479,345	$	(53,780)	$	—	$	425,565

* Cash collateral received from or pledged to our counterparties in relation to market value exposures of OTC derivative contracts in an asset/liability position.