Balance Sheet Offsetting (Tables)

6 Months Ended

Jun. 30, 2022

Offsetting [Abstract]

Offsetting Assets

The table below presents information about Valley’s financial instruments eligible for offset in the consolidated statements of financial condition as of June 30, 2022 and December 31, 2021.

							Gross Amounts Not Offset
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments		Cash Collateral *		Net Amount
	(in thousands)
June 30, 2022
Assets
Interest rate swaps	$	319,011	$	—	$	319,011	$	11,492	$	307,724	$	—
Liabilities
Interest rate swaps	$	340,333	$	—	$	340,333	$	(11,492)	$	(1,142)	$	327,699
December 31, 2021
Assets
Interest rate swaps	$	180,701	$	—	$	180,701	$	—	$	—	$	180,701
Liabilities
Interest rate swaps	$	50,689	$	—	$	50,689	$	—	$	(44,231)	$	6,458

*    Cash collateral received (pledged) to our counterparties in relation to market value exposures of OTC derivative contacts in a liability position.

Offsetting Liabilities

The table below presents information about Valley’s financial instruments eligible for offset in the consolidated statements of financial condition as of June 30, 2022 and December 31, 2021.

							Gross Amounts Not Offset
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments		Cash Collateral *		Net Amount
	(in thousands)
June 30, 2022
Assets
Interest rate swaps	$	319,011	$	—	$	319,011	$	11,492	$	307,724	$	—
Liabilities
Interest rate swaps	$	340,333	$	—	$	340,333	$	(11,492)	$	(1,142)	$	327,699
December 31, 2021
Assets
Interest rate swaps	$	180,701	$	—	$	180,701	$	—	$	—	$	180,701
Liabilities
Interest rate swaps	$	50,689	$	—	$	50,689	$	—	$	(44,231)	$	6,458

*    Cash collateral received (pledged) to our counterparties in relation to market value exposures of OTC derivative contacts in a liability position.