Balance Sheet Offsetting (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022.


							Gross Amounts Not Offset
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments		Cash Collateral *		Net Amount
	(in thousands)
December 31, 2023
Assets:
Interest rate swaps and other contracts	$	458,129	$	—	$	458,129	$	53,780	$	(302,180)	$	209,729
Liabilities:
Interest rate swaps and other contracts	$	479,345	$	—	$	479,345	$	(53,780)	$	—	$	425,565
Total liabilities	$	479,345	$	—	$	479,345	$	(53,780)	$	—	$	425,565
December 31, 2022
Assets:
Interest rate swaps and other contracts	$	453,251	$	—	$	453,251	$	12,766	$	(342,480)	$	123,537
Liabilities:
Interest rate swaps and other contracts	$	594,476	$	—	$	594,476	$	(12,766)	$	(432)	$	581,278

Total liabilities	$	594,476	$	—	$	594,476	$	(12,766)	$	(432)	$	581,278

* Cash collateral received from or pledged to our counterparties in relation to market value exposures of derivative contacts in an 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, 2023 and 2022.


							Gross Amounts Not Offset
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments		Cash Collateral *		Net Amount
	(in thousands)
December 31, 2023
Assets:
Interest rate swaps and other contracts	$	458,129	$	—	$	458,129	$	53,780	$	(302,180)	$	209,729
Liabilities:
Interest rate swaps and other contracts	$	479,345	$	—	$	479,345	$	(53,780)	$	—	$	425,565
Total liabilities	$	479,345	$	—	$	479,345	$	(53,780)	$	—	$	425,565
December 31, 2022
Assets:
Interest rate swaps and other contracts	$	453,251	$	—	$	453,251	$	12,766	$	(342,480)	$	123,537
Liabilities:
Interest rate swaps and other contracts	$	594,476	$	—	$	594,476	$	(12,766)	$	(432)	$	581,278

Total liabilities	$	594,476	$	—	$	594,476	$	(12,766)	$	(432)	$	581,278

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