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Tax Credit Investments (Tables)
 6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Affordable Housing Tax Credit Investments, Other Tax Credit Investments, and Related Unfunded Commitments
The following table presents the balances of Valley’s affordable housing tax credit investments, other tax credit investments at June 30, 2025 and December 31, 2024:
June 30,
2025		December 31,
2024
(in thousands)
Other assets:
Affordable housing tax credit investments, net$27,447 $22,742 
Other tax credit investments, net352,928 278,468 
Total tax credit investments, net$380,375 $301,210 
Affordable Housing Tax Credit Investments and Other Tax Credit Investments
The following table presents other information relating to Valley’s affordable housing tax credit investments and other tax credit investments for the three and six months ended June 30, 2025 and 2024: 
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
(in thousands)
Components of income tax expense:
Affordable housing tax credits and other tax benefits$2,151 $1,263 $3,376 $2,659 
Other tax credit investment credits and tax benefits10,120 6,684 21,009 13,029 
Total reduction in income tax expense$12,271 $7,947 $24,385 $15,688 
Amortization of tax credit investments:
Affordable housing tax credit investment losses$1,050 $876 $1,750 $1,751 
Affordable housing tax credit investment impairment losses374 10 739 491 
Other tax credit investment losses3,622 1,680 4,394 2,280 
Other tax credit investment impairment losses4,088 3,225 11,571 6,831 
Total amortization of tax credit investments recorded in non-interest expense$9,134 $5,791 $18,454 $11,353