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Consolidated Statements Of Financial Condition (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2012
Dec. 31, 2011
Assets    
Cash and due from banks $ 466,616 $ 372,566
Interest bearing deposits with banks 34,219 6,483
Investment securities:    
Held to maturity, fair value of $1,940,444 at March 31, 2012 and $2,027,197 at December 31, 2011 1,878,462 1,958,916
Available for sale 830,974 566,520
Trading securities 22,190 21,938
Total investment securities 2,731,626 2,547,374
Loans held for sale, at fair value 15,892 25,169
Non-covered loans 10,897,337 9,527,797
Covered loans 252,185 271,844
Less: Allowance for loan losses (132,870) (133,802)
Net loans 11,016,652 9,665,839
Premises and equipment, net 273,297 265,475
Bank owned life insurance 334,980 303,867
Accrued interest receivable 57,349 52,527
Due from customers on acceptances outstanding 5,461 5,903
FDIC loss-share receivable 69,928 74,390
Goodwill 420,434 [1] 317,962 [1]
Other intangible assets, net 28,380 20,818
Other assets 495,220 586,134
Total Assets 15,950,054 14,244,507
Liabilities    
Non-interest bearing 3,232,967 2,781,597
Interest bearing:    
Savings, NOW and money market 5,013,581 4,390,121
Time 2,710,636 2,501,384
Total deposits 10,957,184 9,673,102
Short-term borrowings 410,749 212,849
Long-term borrowings 2,724,731 2,726,099
Junior subordinated debentures issued to capital trusts (includes fair value of $151,409 at March 31, 2012 and $160,478 at December 31, 2011 for VNB Capital Trust I) 192,214 185,598
Bank acceptances outstanding 5,461 5,903
Accrued expenses and other liabilities 166,261 174,708
Total Liabilities 14,456,600 12,978,259
Shareholders' Equity    
Preferred stock, no par value, authorized 30,000,000 shares; none issued      [2]
Common stock, no par value, authorized 232,023,233 shares; issued 197,073,878 shares at March 31, 2012 and 178,717,806 shares at December 31, 2011 65,927 [2] 59,955 [2]
Surplus 1,384,511 [2] 1,179,135 [2]
Retained earnings 92,166 [2] 90,011 [2]
Accumulated other comprehensive loss (49,092) [2] (62,441) [2]
Treasury stock, at cost (4,768 common shares at March 31, 2012 and 34,776 common shares at December 31, 2011) (58) [2] (412) [2]
Total Shareholders' Equity 1,493,454 [2] 1,266,248 [2]
Total Liabilities and Shareholders' Equity $ 15,950,054 [2] $ 14,244,507 [2]
[1] Valley's Wealth Management Division is comprised of trust, asset management, and insurance services. This reporting unit is included in the Consumer Lending segment for financial reporting purposes.
[2] Share data reflects the five percent common stock dividend declared on April 18, 2012, to be issued May 25, 2012 to shareholders of record on May 11, 2012.