Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2013

Goodwill And Intangible Assets Disclosure [Abstract]

Carrying Amount of Goodwill

The changes in the carrying amount of goodwill as allocated to our business segments, or reporting units thereof, for goodwill impairment analysis were:

	Business Segment / Reporting Unit*
	Wealth Management		Consumer Lending		Commercial Lending		Investment Management		Total
	(in thousands)
Balance at December 31, 2011	$	20,517	$	98,999	$	117,689	$	80,757	$	317,962
Goodwill from business combinations		—		29,452		57,074		23,746		110,272
Balance at December 31, 2012	$	20,517	$	128,451	$	174,763	$	104,503	$	428,234
Balance at December 31, 2013	$	20,517	$	128,451	$	174,763	$	104,503	$	428,234

* Valley’s Wealth Management Division is comprised of trust, asset management, and insurance services. This reporting unit is included in the Consumer Lending segment for financial reporting purposes.

Other Intangible Assets

The following tables summarize other intangible assets as of December 31, 2013 and 2012:

	Gross								Net
	Intangible		Accumulated			Valuation			Intangible
	Assets		Amortization			Allowance			Assets
	(in thousands)
December 31, 2013
Loan servicing rights	$	71,100	$	(45,032	)	$	(504	)	$	25,564
Core deposits		35,194		(27,238	)		—			7,956
Other		5,878		(3,268	)		—			2,610
Total other intangible assets	$	112,172	$	(75,538	)	$	(504	)	$	36,130
December 31, 2012
Loan servicing rights	$	63,377	$	(43,393	)	$	(3,046	)	$	16,938
Core deposits		35,194		(24,160	)		—			11,034
Other		5,878		(2,727	)		—			3,151
Total other intangible assets	$	104,449	$	(70,280	)	$	(3,046	)	$	31,123

Schedule of Change in Loan Servicing Rights

The following table summarizes the change in loan servicing rights during the years ended December 31, 2013, 2012 and 2011:

	2013			2012			2011
	(in thousands)
Loan servicing rights
Balance at beginning of year	$	19,984		$	12,900		$	12,491
Origination of loan servicing rights		13,265			12,039			4,483
Amortization expense		(7,181	)		(4,955	)		(4,074	)
Balance at end of year	$	26,068		$	19,984		$	12,900
Valuation allowance
Balance at beginning of year	$	(3,046	)	$	(2,670	)	$	(1,163	)
Impairment adjustment		2,542			(376	)		(1,507	)
Balance at end of year	$	(504	)	$	(3,046	)	$	(2,670	)
Balance at end of year, net of valuation allowance	$	25,564		$	16,938		$	10,230

Estimated Future Amortization Expense

The following presents the estimated amortization expense of other intangible assets over the next five-year period:

	Loan Servicing Rights		Core Deposits		Other
	(in thousands)
2014	$	6,580	$	2,359	$	466
2015		5,149		1,758		434
2016		3,974		1,195		233
2017		3,089		815		220
2018		2,338		610		193