Balance Sheet Offsetting (Tables)

12 Months Ended

Dec. 31, 2013

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Summary of Valley's Financial Instruments that are Eligible for Offset

The table below presents information about Valley’s financial instruments that are eligible for offset in the consolidated statements of financial condition as of December 31, 2013 and 2012.

							Gross Amounts Not Offset
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments			Cash Collateral			Net Amount
	(in thousands)
December 31, 2013
Assets:
Interest rate caps and swaps	$	14,805	$	—	$	14,805	$	(8,284	)	$	—		$	6,521
Liabilities:
Interest rate caps and swaps	$	20,439	$	—	$	20,439	$	(8,284	)	$	(12,155	)	$	—
Repurchase agreements		520,000		—		520,000		—			(520,000	)*		—
Total	$	540,439	$	—	$	540,439	$	(8,284	)	$	(532,155	)	$	—
December 31, 2012
Assets:
Interest rate caps and swaps	$	7,677	$	—	$	7,677	$	(675	)	$	—		$	7,002
Liabilities:
Interest rate caps and swaps	$	26,395	$	—	$	26,395	$	(675	)	$	(25,720	)	$	—
Repurchase agreements		520,000		—		520,000		—			(520,000	)*		—
Total	$	546,395	$	—	$	546,395	$	(675	)	$	(545,720	)	$	—

* Represents fair value of non-cash pledged investment securities.