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Balance Sheet Offsetting (Tables)
 3 Months Ended
Mar. 31, 2016
Offsetting [Abstract]  
Gross Presentation Effects of Offsetting and Net Presentation of Valley's Financial Instruments
The table below presents information about Valley’s financial instruments that are eligible for offset in the consolidated statements of financial condition as of March 31, 2016 and December 31, 2015.
 
 
 
 
 
 
 
 
Gross Amounts Not Offset
 
 
 
Gross Amounts
Recognized
 
Gross Amounts
Offset
 
Net Amounts
Presented
 
Financial
Instruments
 
Cash
Collateral
 
Net
Amount
 
(in thousands)
March 31, 2016
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
Interest rate caps and swaps
$
49,020

 
$
—

 
$
49,020

 
$
(13,117
)
 
$
—

 
$
35,903

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
Interest rate caps and swaps
$
69,727

 
$
—

 
$
69,727

 
$
(13,117
)
 
$
(56,610
)
 
$
—

Repurchase agreements
475,000

 
—

 
475,000

 
—

 
(475,000
)
*
—

Total
$
544,727

 
$
—

 
$
544,727

 
$
(13,117
)
 
$
(531,610
)
 
$
—

December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
Interest rate caps and swaps
$
33,570

 
$
—

 
$
33,570

 
$
(8,942
)
 
$
—

 
$
24,628

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
Interest rate caps and swaps
$
50,752

 
$
—

 
$
50,752

 
$
(8,942
)
 
$
(41,810
)
 
$
—

Repurchase agreements
475,000

 
—

 
475,000

 
—

 
(475,000
)
*
—

Total
$
525,752

 
$
—

 
$
525,752

 
$
(8,942
)
 
$
(516,810
)
 
$
—

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