Balance Sheet Offsetting (Tables)

12 Months Ended

Dec. 31, 2019

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, 2019 and 2018.



							Gross Amounts Not Offset
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments			Cash Collateral				Net Amount
	(in thousands)
December 31, 2019
Assets:
Interest rate swaps	$	158,382	$	—	$	158,382	$	(118	)	$	—			$	158,264
Liabilities:
Interest rate swaps	$	43,733	$	—	$	43,733	$	(118	)	$	(16,881	)		$	26,734
Repurchase agreements	350,000		—		350,000		—			(350,000		)	^*	—
Total	$	393,733	$	—	$	393,733	$	(118	)	$	(366,881	)		$	26,734
December 31, 2018
Assets:
Interest rate swaps and caps	$	48,642	$	—	$	48,642	$	(1,214	)	$	—			$	47,428
Liabilities:
Interest rate swaps and caps	$	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

* 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, 2019 and 2018.



							Gross Amounts Not Offset
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments			Cash Collateral				Net Amount
	(in thousands)
December 31, 2019
Assets:
Interest rate swaps	$	158,382	$	—	$	158,382	$	(118	)	$	—			$	158,264
Liabilities:
Interest rate swaps	$	43,733	$	—	$	43,733	$	(118	)	$	(16,881	)		$	26,734
Repurchase agreements	350,000		—		350,000		—			(350,000		)	^*	—
Total	$	393,733	$	—	$	393,733	$	(118	)	$	(366,881	)		$	26,734
December 31, 2018
Assets:
Interest rate swaps and caps	$	48,642	$	—	$	48,642	$	(1,214	)	$	—			$	47,428
Liabilities:
Interest rate swaps and caps	$	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

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