Business Segments (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Schedule of Financial Data for Business Segments

The following tables represent the financial data for Valley’s four business segments for the years ended December 31, 2018, 2017 and 2016:

	Year Ended December 31, 2018
	Consumer Lending			Commercial Lending			Investment Management			Corporate and Other Adjustments			Total
	($ in thousands)
Average interest earning assets (unaudited)	$	6,197,161		$	17,143,169		$	4,362,581		$	—		$	27,702,911
Interest income	$	235,264		$	798,974		$	130,971		$	(5,961	)	$	1,159,248
Interest expense	64,083			177,273			45,112			15,577			302,045
Net interest income (loss)	171,181			621,701			85,859			(21,538		)	857,203
Provision for credit losses	5,550			26,951			—			—			32,501
Net interest income (loss) after provision for credit losses	165,631			594,750			85,859			(21,538		)	824,702
Non-interest income	61,280			22,275			8,691			41,806			134,052
Non-interest expense	92,462			95,171			1,251			440,177			629,061
Internal expense transfer	77,164			213,399			54,353			(344,916		)	—
Income (loss) before income taxes	$	57,285		$	308,455		$	38,946		$	(74,993	)	$	329,693
Return on average interest earning assets (pre-tax) (unaudited)	0.92		%	1.80		%	0.89		%	N/A			1.19		%

	Year Ended December 31, 2017
	Consumer Lending			Commercial Lending			Investment Management			Corporate and Other Adjustments			Total
	($ in thousands)
Average interest earning assets (unaudited)	$	5,166,171		$	12,652,832		$	3,669,495		$	—		$	21,488,498
Interest income	$	182,508		$	552,297		$	107,972		$	(8,623	)	$	834,154
Interest expense	39,018			95,562			27,714			11,813			174,107
Net interest income (loss)	143,490			456,735			80,258			(20,436		)	660,047
Provision for credit losses	3,197			6,745			—			—			9,942
Net interest income (loss) after provision for credit losses	140,293			449,990			80,258			(20,436		)	650,105
Non-interest income	63,375			11,414			7,745			29,172			111,706
Non-interest expense	72,207			71,216			1,193			364,457			509,073
Internal expense transfer	68,007			166,847			48,393			(283,247		)	—
Income (loss) before income taxes	$	63,454		$	223,341		$	38,417		$	(72,474	)	$	252,738
Return on average interest earning assets (pre-tax) (unaudited)	1.23		%	1.77		%	1.05		%	N/A			1.18		%

	Year Ended December 31, 2016
	Consumer Lending			Commercial Lending			Investment Management			Corporate and Other Adjustments			Total
	($ in thousands)
Average interest earning assets (unaudited)	$	5,081,798		$	11,318,947		$	3,428,567		$	—		$	19,829,312
Interest income	$	176,929		$	504,341		$	89,378		$	(8,760	)	$	761,888
Interest expense	35,175			78,347			23,732			11,520			148,774
Net interest income (loss)	141,754			425,994			65,646			(20,280		)	613,114
Provision for credit losses	905			10,964			—			—			11,869
Net interest income (loss) after provision for credit losses	140,849			415,030			65,646			(20,280		)	601,245
Non-interest income	63,443			8,327			6,694			29,796			108,260
Non-interest expense	62,721			70,145			1,281			341,978			476,125
Internal expense transfer	71,578			160,198			48,475			(280,251		)	—
Income (loss) before income taxes	$	69,993		$	193,014		$	22,584		$	(52,211	)	$	233,380
Return on average interest earning assets (pre-tax) (unaudited)	1.38		%	1.71		%	0.66		%	N/A			1.18		%