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Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Interest Income      
Interest and fees on loans $ 552,821us-gaap_InterestAndFeeIncomeLoansAndLeases $ 537,301us-gaap_InterestAndFeeIncomeLoansAndLeases $ 581,696us-gaap_InterestAndFeeIncomeLoansAndLeases
Interest and dividends on investment securities:      
Taxable 62,458us-gaap_InterestIncomeSecuritiesTaxable 57,392us-gaap_InterestIncomeSecuritiesTaxable 68,698us-gaap_InterestIncomeSecuritiesTaxable
Tax-exempt 14,683us-gaap_InterestIncomeSecuritiesTaxExempt 14,426us-gaap_InterestIncomeSecuritiesTaxExempt 13,157us-gaap_InterestIncomeSecuritiesTaxExempt
Dividends 6,272us-gaap_DividendIncomeOperating 6,240us-gaap_DividendIncomeOperating 7,107us-gaap_DividendIncomeOperating
Interest on federal funds sold and other short-term investments 369vly_InterestOnFederalFundsSoldAndOtherShortTermInvestments 738vly_InterestOnFederalFundsSoldAndOtherShortTermInvestments 535vly_InterestOnFederalFundsSoldAndOtherShortTermInvestments
Total interest income 636,603us-gaap_InterestAndDividendIncomeOperating 616,097us-gaap_InterestAndDividendIncomeOperating 671,193us-gaap_InterestAndDividendIncomeOperating
Interest Expense      
Savings, NOW and money market 19,671us-gaap_InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits 17,863us-gaap_InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits 20,090us-gaap_InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
Time 27,882us-gaap_InterestExpenseTimeDeposits 29,928us-gaap_InterestExpenseTimeDeposits 37,466us-gaap_InterestExpenseTimeDeposits
Interest on short-term borrowings 972us-gaap_InterestExpenseShortTermBorrowings 590us-gaap_InterestExpenseShortTermBorrowings 1,387us-gaap_InterestExpenseShortTermBorrowings
Interest on long-term borrowings and junior subordinated debentures 113,321us-gaap_InterestExpenseLongTermDebt 119,996us-gaap_InterestExpenseLongTermDebt 122,369us-gaap_InterestExpenseLongTermDebt
Total interest expense 161,846us-gaap_InterestExpense 168,377us-gaap_InterestExpense 181,312us-gaap_InterestExpense
Net Interest Income 474,757us-gaap_InterestIncomeExpenseNet 447,720us-gaap_InterestIncomeExpenseNet 489,881us-gaap_InterestIncomeExpenseNet
Provision for credit losses 1,884us-gaap_ProvisionForLoanLeaseAndOtherLosses 16,095us-gaap_ProvisionForLoanLeaseAndOtherLosses 25,552us-gaap_ProvisionForLoanLeaseAndOtherLosses
Net Interest Income After Provision for Credit Losses 472,873us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss 431,625us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss 464,329us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss
Non-Interest Income      
Trust and investment services 9,512us-gaap_FeesAndCommissionsFiduciaryAndTrustActivities 8,610us-gaap_FeesAndCommissionsFiduciaryAndTrustActivities 7,690us-gaap_FeesAndCommissionsFiduciaryAndTrustActivities
Insurance commissions 16,853us-gaap_InsuranceCommissionsAndFees 15,907us-gaap_InsuranceCommissionsAndFees 15,494us-gaap_InsuranceCommissionsAndFees
Service charges on deposit accounts 22,771us-gaap_FeesAndCommissionsDepositorAccounts 24,115us-gaap_FeesAndCommissionsDepositorAccounts 24,752us-gaap_FeesAndCommissionsDepositorAccounts
Gains on securities transactions, net 745us-gaap_GainLossOnSaleOfSecuritiesNet 14,678us-gaap_GainLossOnSaleOfSecuritiesNet 2,587us-gaap_GainLossOnSaleOfSecuritiesNet
Other-than-temporary impairment losses on securities 0us-gaap_ImpairmentOfInvestments 0us-gaap_ImpairmentOfInvestments 0us-gaap_ImpairmentOfInvestments
Portion recognized in other comprehensive income (before taxes) 0vly_PortionRecognizedInOtherComprehensiveIncomeBeforeTaxes 0vly_PortionRecognizedInOtherComprehensiveIncomeBeforeTaxes (5,247)vly_PortionRecognizedInOtherComprehensiveIncomeBeforeTaxes
Net impairment losses on securities recognized in earnings 0us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet 0us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet (5,247)us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
Trading (losses) gains, net (31)us-gaap_TradingGainsLosses 909us-gaap_TradingGainsLosses 2,793us-gaap_TradingGainsLosses
Fees from loan servicing 7,013us-gaap_ServicingFeesNet 7,020us-gaap_ServicingFeesNet 4,843us-gaap_ServicingFeesNet
Gains on sales of loans, net 1,731us-gaap_GainLossOnSalesOfLoansNet 33,695us-gaap_GainLossOnSalesOfLoansNet 46,998us-gaap_GainLossOnSalesOfLoansNet
Gains (losses) on sales of assets, net 18,087us-gaap_GainsLossesOnSalesOfAssets 10,947us-gaap_GainsLossesOnSalesOfAssets (329)us-gaap_GainsLossesOnSalesOfAssets
Bank owned life insurance 6,392us-gaap_BankOwnedLifeInsuranceIncome 5,962us-gaap_BankOwnedLifeInsuranceIncome 6,855us-gaap_BankOwnedLifeInsuranceIncome
Change in FDIC loss-share receivable (20,792)vly_ChangeInFdicLossShareReceivable (8,427)vly_ChangeInFdicLossShareReceivable (7,459)vly_ChangeInFdicLossShareReceivable
Other 15,335us-gaap_NoninterestIncomeOtherOperatingIncome 15,237us-gaap_NoninterestIncomeOtherOperatingIncome 21,969us-gaap_NoninterestIncomeOtherOperatingIncome
Total non-interest income 77,616us-gaap_NoninterestIncome 128,653us-gaap_NoninterestIncome 120,946us-gaap_NoninterestIncome
Non-Interest Expense      
Salary and employee benefits expense 193,489us-gaap_LaborAndRelatedExpense 194,410us-gaap_LaborAndRelatedExpense 199,968us-gaap_LaborAndRelatedExpense
Net occupancy and equipment expense 74,492us-gaap_OccupancyNet 71,634us-gaap_OccupancyNet 71,245us-gaap_OccupancyNet
FDIC insurance assessment 14,051us-gaap_FederalDepositInsuranceCorporationPremiumExpense 16,767us-gaap_FederalDepositInsuranceCorporationPremiumExpense 14,292us-gaap_FederalDepositInsuranceCorporationPremiumExpense
Amortization of other intangible assets 9,919us-gaap_AmortizationOfIntangibleAssets 8,258us-gaap_AmortizationOfIntangibleAssets 9,783us-gaap_AmortizationOfIntangibleAssets
Professional and legal fees 16,859vly_ProfessionalAndLegalFees 16,491vly_ProfessionalAndLegalFees 15,005vly_ProfessionalAndLegalFees
Loss on extinguishment of debt 10,132us-gaap_GainsLossesOnExtinguishmentOfDebt 0us-gaap_GainsLossesOnExtinguishmentOfDebt 0us-gaap_GainsLossesOnExtinguishmentOfDebt
Amortization of tax credit investments 24,196vly_InvestmentTaxCreditAmortization 14,352vly_InvestmentTaxCreditAmortization 4,157vly_InvestmentTaxCreditAmortization
Advertising 4,666us-gaap_AdvertisingExpense 6,127us-gaap_AdvertisingExpense 7,103us-gaap_AdvertisingExpense
Other 55,451us-gaap_OtherNoninterestExpense 53,299us-gaap_OtherNoninterestExpense 53,347us-gaap_OtherNoninterestExpense
Total non-interest expense 403,255us-gaap_NoninterestExpense 381,338us-gaap_NoninterestExpense 374,900us-gaap_NoninterestExpense
Income before income taxes 147,234us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 178,940us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 210,375us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax expense 31,062us-gaap_IncomeTaxExpenseBenefit 46,979us-gaap_IncomeTaxExpenseBenefit 66,748us-gaap_IncomeTaxExpenseBenefit
Net Income $ 116,172us-gaap_NetIncomeLoss $ 131,961us-gaap_NetIncomeLoss $ 143,627us-gaap_NetIncomeLoss
Earnings Per Common Share:      
Basic (in usd per share) $ 0.56us-gaap_EarningsPerShareBasic $ 0.66us-gaap_EarningsPerShareBasic $ 0.73us-gaap_EarningsPerShareBasic
Diluted (in usd per share) $ 0.56us-gaap_EarningsPerShareDiluted $ 0.66us-gaap_EarningsPerShareDiluted $ 0.73us-gaap_EarningsPerShareDiluted
Cash Dividends Declared Per Common Share (in usd per share) $ 0.444us-gaap_CommonStockDividendsPerShareDeclared $ 0.60us-gaap_CommonStockDividendsPerShareDeclared $ 0.65us-gaap_CommonStockDividendsPerShareDeclared
Weighted Average Number of Common Shares Outstanding:      
Basic (in shares) 205,716,293us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 199,309,425us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 197,354,159us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Diluted (in shares) 205,716,293us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 199,309,425us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 197,354,372us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding