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Balance Sheet Offsetting (Tables)
 12 Months Ended
Dec. 31, 2017
Offsetting [Abstract]  
Summary of Valley's Financial Instruments that are Eligible for Offset, Assets
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, 2017 and 2016. 
 
 
 
 
 
 
 
Gross Amounts Not Offset
 
 
 
Gross Amounts
Recognized
 
Gross Amounts
Offset
 
Net Amounts
Presented
 
Financial
Instruments
 
Cash
Collateral
 
Net
Amount
 
(in thousands)
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
Interest rate caps and swaps
$
26,346

 
$
—

 
$
26,346

 
$
(5,376
)
 
$
—

 
$
20,970

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
Interest rate caps and swaps
$
24,212

 
$
—

 
$
24,212

 
$
(5,376
)
 
$
(8,141
)
(1) 
$
10,695

Repurchase agreements
200,000

 
—

 
200,000

 
—

 
(200,000
)
(2) 
—

Total
$
224,212

 
$
—

 
$
224,212

 
$
(5,376
)
 
$
(208,141
)
 
$
10,695

December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
Interest rate caps and swaps
$
26,087

 
$
—

 
$
26,087

 
$
(5,268
)
 
$
—

 
$
20,819

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
Interest rate caps and swaps
$
41,911

 
$
—

 
$
41,911

 
$
(5,268
)
 
$
(36,643
)
(1) 
$
—

Repurchase agreements
165,000

 
—

 
165,000

 
—

 
(165,000
)
(2) 
—

Total
$
206,911

 
$
—

 
$
206,911

 
$
(5,268
)
 
$
(201,643
)
 
$
—


 

(1)
Represents the amount of collateral posted with counterparties that offsets net liabilities. Actual cash collateral posted with counterparties totaled $51.4 million and $52.4 million at December 31, 2017 and 2016, respectively.
(2)
Represents the fair value of non-cash pledged investment securities.
Summary of Valley's Financial Instruments that are Eligible for Offset, Liabilities
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, 2017 and 2016. 
 
 
 
 
 
 
 
Gross Amounts Not Offset
 
 
 
Gross Amounts
Recognized
 
Gross Amounts
Offset
 
Net Amounts
Presented
 
Financial
Instruments
 
Cash
Collateral
 
Net
Amount
 
(in thousands)
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
Interest rate caps and swaps
$
26,346

 
$
—

 
$
26,346

 
$
(5,376
)
 
$
—

 
$
20,970

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
Interest rate caps and swaps
$
24,212

 
$
—

 
$
24,212

 
$
(5,376
)
 
$
(8,141
)
(1) 
$
10,695

Repurchase agreements
200,000

 
—

 
200,000

 
—

 
(200,000
)
(2) 
—

Total
$
224,212

 
$
—

 
$
224,212

 
$
(5,376
)
 
$
(208,141
)
 
$
10,695

December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
Interest rate caps and swaps
$
26,087

 
$
—

 
$
26,087

 
$
(5,268
)
 
$
—

 
$
20,819

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
Interest rate caps and swaps
$
41,911

 
$
—

 
$
41,911

 
$
(5,268
)
 
$
(36,643
)
(1) 
$
—

Repurchase agreements
165,000

 
—

 
165,000

 
—

 
(165,000
)
(2) 
—

Total
$
206,911

 
$
—

 
$
206,911

 
$
(5,268
)
 
$
(201,643
)
 
$
—


 

(1)
Represents the amount of collateral posted with counterparties that offsets net liabilities. Actual cash collateral posted with counterparties totaled $51.4 million and $52.4 million at December 31, 2017 and 2016, respectively.
(2)
Represents the fair value of non-cash pledged investment securities.