Business Segments (Tables)

12 Months Ended

Dec. 31, 2019

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, 2019, 2018 and 2017:

	Year Ended December 31, 2019
	Consumer Lending			Commercial Lending			Investment Management			Corporate and Other Adjustments			Total
	($ in thousands)
Average interest earning assets (unaudited)	$	6,891,462		$	19,343,791		$	4,340,277		$	—		$	30,575,530
Interest income	$	272,773		$	926,328		$	126,723		$	(4,824	)	$	1,321,000
Interest expense	91,798			257,670			57,815			15,669			422,952
Net interest income (loss)	180,975			668,658			68,908			(20,493		)	898,048
Provision for credit losses	6,688			17,530			—			—			24,218
Net interest income (loss) after provision for credit losses	174,287			651,128			68,908			(20,493		)	873,830
Non-interest income	57,981			41,157			8,818			106,564			214,520
Non-interest expense	76,046			101,924			1,034			452,551			631,555
Internal expense transfer	78,743			221,113			49,670			(349,526		)	—
Income (loss) before income taxes	$	77,479		$	369,248		$	27,022		$	(16,954	)	$	456,795
Return on average interest earning assets (pre-tax) (unaudited)	1.12		%	1.91		%	0.62		%	N/A			1.49		%

	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		%