Balance Sheet Offsetting (Tables)

12 Months Ended

Dec. 31, 2018

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, 2018 and 2017.



							Gross Amounts Not Offset
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments			Cash Collateral				Net Amount
	(in thousands)
December 31, 2018
Assets:
Interest rate caps and swaps	$	48,642	$	—	$	48,642	$	(1,214	)	$	—			$	47,428
Liabilities:
Interest rate caps and swaps	$	22,907	$	—	$	22,907	$	(1,214	)	$	(1,852	)		$	19,841
Repurchase agreements	150,000		—		150,000		—			(150,000		)	^*	—
Total	$	172,907	$	—	$	172,907	$	(1,214	)	$	(151,852	)		$	19,841
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	)		$	10,695
Repurchase agreements	200,000		—		200,000		—			(200,000		)	^*	—
Total	$	224,212	$	—	$	224,212	$	(5,376	)	$	(208,141	)		$	10,695

* 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, 2018 and 2017.



							Gross Amounts Not Offset
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments			Cash Collateral				Net Amount
	(in thousands)
December 31, 2018
Assets:
Interest rate caps and swaps	$	48,642	$	—	$	48,642	$	(1,214	)	$	—			$	47,428
Liabilities:
Interest rate caps and swaps	$	22,907	$	—	$	22,907	$	(1,214	)	$	(1,852	)		$	19,841
Repurchase agreements	150,000		—		150,000		—			(150,000		)	^*	—
Total	$	172,907	$	—	$	172,907	$	(1,214	)	$	(151,852	)		$	19,841
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	)		$	10,695
Repurchase agreements	200,000		—		200,000		—			(200,000		)	^*	—
Total	$	224,212	$	—	$	224,212	$	(5,376	)	$	(208,141	)		$	10,695

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