Balance Sheet Offsetting (Tables)

12 Months Ended

Dec. 31, 2024

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, 2024 and 2023.


							Gross Amounts Not Offset
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments		Cash Collateral *		Net Amount
	(in thousands)
December 31, 2024
Assets:
Interest rate swaps and other contracts	$	426,102	$	—	$	426,102	$	32,571	$	(358,520)	$	100,153
Liabilities:
Interest rate swaps and other contracts	$	437,485	$	—	$	437,485	$	(32,571)	$	—	$	404,914
Total liabilities	$	437,485	$	—	$	437,485	$	(32,571)	$	—	$	404,914
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

* Cash collateral received from or pledged to our counterparties in relation to market value exposures of OTC derivative contracts 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, 2024 and 2023.


							Gross Amounts Not Offset
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments		Cash Collateral *		Net Amount
	(in thousands)
December 31, 2024
Assets:
Interest rate swaps and other contracts	$	426,102	$	—	$	426,102	$	32,571	$	(358,520)	$	100,153
Liabilities:
Interest rate swaps and other contracts	$	437,485	$	—	$	437,485	$	(32,571)	$	—	$	404,914
Total liabilities	$	437,485	$	—	$	437,485	$	(32,571)	$	—	$	404,914
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

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