Allowance For Credit Losses (Tables)

12 Months Ended

Dec. 31, 2011

Allowance For Credit Losses [Abstract]

Summary Of Allowance For Credit Losses

	2011		2010
	(in thousands)
Components of allowance for credit losses:
Allowance for non-covered loans	$	120,274	$	118,326
Allowance for covered loans		13,528		6,378
Total allowance for loan losses		133,802		124,704
Allowance for unfunded letters of credit		2,383		1,800
Total allowance for credit losses	$	136,185	$	126,504

Summary Of Provision For Credit Losses

	2011		2010		2009
	(in thousands)
Components of provision for credit losses:
Provision for non-covered loans	$	31,242	$	42,943	$	47,821
Provision for covered loans		21,510		6,378		—
Total provision for loan losses		52,752		49,321		47,821
Provision for unfunded letters of credit		583		135		171
Total provision for credit losses	$	53,335	$	49,456	$	47,992

Summary Of Activity In The Allowance For Loan Losses

	Commercial and Industrial			Commercial Real Estate			Residential Mortgage			Consumer			Unallocated			Total
							(in thousands)
December 31, 2011
Allowance for loan losses:
Beginning balance	$	61,967		$	30,409		$	9,476		$	14,499		$	8,353		$	124,704
Loans charged-off (1)		(29,229	)		(10,358	)		(3,222	)		(5,906	)		—			(48,715	)
Charged-off loans recovered		2,365			331			129			2,236			—			5,061
Net charge-offs		(26,864	)		(10,027	)		(3,093	)		(3,670	)		—			(43,654	)
Provision for loan losses (2)		38,546			14,255			2,737			(2,152	)		(634	)		52,752
Ending balance	$	73,649		$	34,637		$	9,120		$	8,677		$	7,719		$	133,802
December 31, 2010
Allowance for loan losses:
Beginning balance	$	49,267		$	25,516		$	5,397		$	15,480		$	6,330		$	101,990
Loans charged-off		(15,475	)		(3,561	)		(3,741	)		(10,882	)		—			(33,659	)
Charged-off loans recovered		4,121			156			97			2,678			—			7,052
Net charge-offs		(11,354	)		(3,405	)		(3,644	)		(8,204	)		—			(26,607	)
Provision for loan losses (2)		24,054			8,298			7,723			7,223			2,023			49,321
Ending balance	$	61,967		$	30,409		$	9,476		$	14,499		$	8,353		$	124,704

⁽¹⁾  The allowance for covered loans was reduced by loan charge-offs totaling $14.4 million during 2011. There were no charge-offs of covered loans during 2010. See Note 1 for Valley's loan charge-off policies for covered and non-covered loans.

⁽²⁾  The provision for covered loan losses totaled $21.5 million and $6.4 million for the years ended December 31, 2011 and 2010, respectively.

Summary Of Allocation Of The Allowance For Loan Losses And The Related Loans By Loan Portfolio Segment Disaggregated Based On The Impairment Methodology

	Commercial and Industrial		Commercial Real Estate		Residential Mortgage		Consumer		Unallocated		Total
	(in thousands)
December 31, 2011
Allowance for loan losses:
Individually evaluated for impairment	$	11,105	$	8,516	$	3,577	$	45	$	—	$	23,243
Collectively evaluated for impairment		51,588		23,611		5,481		8,632		7,719		97,031
Loans acquired with discounts related to credit quality		10,956		2,510		62		—		—		13,528
Total	$	73,649	$	34,637	$	9,120	$	8,677	$	7,719	$	133,802
Loans:
Individually evaluated for impairment	$	54,858	$	107,970	$	21,005	$	242	$	—	$	184,075
Collectively evaluated for impairment		1,823,529		3,877,122		2,264,585		1,378,486		—		9,343,722
Loans acquired with discounts related to credit quality		83,742		167,625		15,546		4,931		—		271,844
Total	$	1,962,129	$	4,152,717	$	2,301,136	$	1,383,659	$	—	$	9,799,641
December 31, 2010
Allowance for loan losses:
Individually evaluated for impairment	$	6,397	$	6,141	$	2,683	$	5	$	—	$	15,226
Collectively evaluated for impairment		50,032		23,776		6,445		14,494		8,353		103,100
Loans acquired with discounts related to credit quality		5,538		492		348		—		—		6,378
Total	$	61,967	$	30,409	$	9,476	$	14,499	$	8,353	$	124,704
Loans:
Individually evaluated for impairment	$	32,297	$	103,322	$	18,585	$	83	$	—	$	154,287
Collectively evaluated for impairment		1,792,769		3,703,162		1,906,845		1,452,077		—		8,854,853
Loans acquired with discounts related to credit quality		121,151		211,799		17,026		6,679		—		356,655
Total	$	1,946,217	$	4,018,283	$	1,942,456	$	1,458,839	$	—	$	9,365,795