Balance Sheet Offsetting (Tables)

3 Months Ended

Mar. 31, 2025

The table below presents information about Valley’s financial instruments eligible for offset in the consolidated statements of financial condition as of March 31, 2025 and December 31, 2024.


							Gross Amounts Not Offset
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments		Cash Collateral *		Net Amount
	(in thousands)
March 31, 2025
Assets
Interest rate swaps and other contracts	$	311,399	$	—	$	311,399	$	48,470	$	(248,322)	$	111,547
Liabilities
Interest rate swaps and other contracts	$	317,725	$	—	$	317,725	$	(48,470)	$	—	$	269,255


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

* Cash collateral received from or pledged to our counterparties in relation to market value exposures of OTC derivative contracts in an asset/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 March 31, 2025 and December 31, 2024.


							Gross Amounts Not Offset
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments		Cash Collateral *		Net Amount
	(in thousands)
March 31, 2025
Assets
Interest rate swaps and other contracts	$	311,399	$	—	$	311,399	$	48,470	$	(248,322)	$	111,547
Liabilities
Interest rate swaps and other contracts	$	317,725	$	—	$	317,725	$	(48,470)	$	—	$	269,255


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

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