Balance Sheet Offsetting (Tables)

12 Months Ended

Dec. 31, 2022

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, 2022 and 2021.


							Gross Amounts Not Offset
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments		Cash Collateral *		Net Amount
	(in thousands)
December 31, 2022
Assets:
Interest rate swaps	$	462,989	$	—	$	462,989	$	12,766	$	(342,480)	$	133,275
Liabilities:
Interest rate swaps	$	577,282	$	—	$	577,282	$	(12,766)	$	(432)	$	564,084
Total liabilities	$	577,282	$	—	$	577,282	$	(12,766)	$	(432)	$	564,084
December 31, 2021
Assets:
Interest rate swaps	$	181,012	$	—	$	181,012	$	—	$	—	$	181,012
Liabilities:
Interest rate swaps	$	50,922	$	—	$	50,922	$	—	$	(44,231)	$	6,691

Total liabilities	$	50,922	$	—	$	50,922	$	—	$	(44,231)	$	6,691

* Cash collateral received from or pledged to our counterparties in relation to market value exposures of OTC derivative contacts in a asset/liability position.

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, 2022 and 2021.


							Gross Amounts Not Offset
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments		Cash Collateral *		Net Amount
	(in thousands)
December 31, 2022
Assets:
Interest rate swaps	$	462,989	$	—	$	462,989	$	12,766	$	(342,480)	$	133,275
Liabilities:
Interest rate swaps	$	577,282	$	—	$	577,282	$	(12,766)	$	(432)	$	564,084
Total liabilities	$	577,282	$	—	$	577,282	$	(12,766)	$	(432)	$	564,084
December 31, 2021
Assets:
Interest rate swaps	$	181,012	$	—	$	181,012	$	—	$	—	$	181,012
Liabilities:
Interest rate swaps	$	50,922	$	—	$	50,922	$	—	$	(44,231)	$	6,691

Total liabilities	$	50,922	$	—	$	50,922	$	—	$	(44,231)	$	6,691

* Cash collateral received from or pledged to our counterparties in relation to market value exposures of OTC derivative contacts in a asset/liability position.