Valley National Bancorp (VLY) 10-K 28 Feb 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2016	Feb. 23, 2017	Jun. 30, 2016
Document And Entity Information [Abstract]
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Trading Symbol	VLY
Amendment Flag	false
Entity Registrant Name	Valley National Bancorp
Entity Central Index Key	714,310
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		263,838,587
Entity Public Float			$ 2.2

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets
Cash and due from banks	$ 220,791	$ 243,575
Interest bearing deposits with banks	171,710	170,225
Investment securities:
Held to maturity (fair value of $1,924,597 at December 31, 2016 and $1,621,039 at December 31, 2015)	1,925,572	1,596,385
Available for sale	1,297,373	1,506,861
Total investment securities	3,222,945	3,103,246
Loans held for sale, at fair value	57,708	16,382
Loans	17,236,103	16,043,107
Less: Allowance for loan losses	(114,419)	(106,178)
Net loans	17,121,684	15,936,929
Premises and equipment, net	291,180	298,943
Bank owned life insurance	391,830	387,542
Accrued interest receivable	66,816	63,554
Goodwill	690,637	686,339
Other intangible assets, net	45,484	48,882
Other assets	583,654	656,999
Total Assets	22,864,439	21,612,616
Liabilities
Non-interest bearing	5,252,825	4,914,285
Interest bearing:
Savings, NOW and money market	9,339,012	8,181,362
Time	3,138,871	3,157,904
Total deposits	17,730,708	16,253,551
Short-term borrowings	1,080,960	1,076,991
Long-term borrowings	1,433,906	1,810,728
Junior subordinated debentures issued to capital trusts	41,577	41,414
Accrued expenses and other liabilities	200,132	222,841
Total Liabilities	20,487,283	19,405,525
Shareholders’ Equity
Preferred stock (no par value, authorized 30,000,000 shares; issued 4,600,000 shares at December 31, 2016 and 2015)	111,590	111,590
Common stock (no par value, authorized 332,023,233 shares; issued 263,804,877 shares at December 31, 2016 and 253,787,561 shares at December 31, 2015)	92,353	88,626
Surplus	2,044,401	1,927,399
Retained earnings	172,754	125,171
Accumulated other comprehensive loss	(42,093)	(45,695)
Treasury stock, at cost (166,047 common shares at December 31, 2016)	(1,849)	0
Total Shareholders’ Equity	2,377,156	2,207,091
Total Liabilities and Shareholders’ Equity	$ 22,864,439	$ 21,612,616

Consolidated Statements of Fin3

Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Investment securities held to maturity	$ 1,924,597	$ 1,621,039
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized	30,000,000	30,000,000
Preferred stock, shares issued	4,600,000	4,600,000
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized	332,023,233	332,023,233
Common stock, shares issued	263,804,877	253,787,561
Treasury stock, shares	166,047	0

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Interest Income
Interest and fees on loans	$ 685,911	$ 633,199	$ 552,821
Interest and dividends on investment securities:
Taxable	58,143	52,050	62,458
Tax-exempt	15,537	14,568	14,683
Dividends	6,206	6,557	6,272
Interest on federal funds sold and other short-term investments	1,126	649	369
Total interest income	766,923	707,023	636,603
Interest Expense
Savings, NOW and money market	39,787	24,824	19,671
Time	37,775	35,432	27,882
Interest on short-term borrowings	12,022	919	972
Interest on long-term borrowings and junior subordinated debentures	59,190	95,579	113,321
Total interest expense	148,774	156,754	161,846
Net Interest Income	618,149	550,269	474,757
Provision for credit losses	11,869	8,101	1,884
Net Interest Income After Provision for Credit Losses	606,280	542,168	472,873
Non-Interest Income
Trust and investment services	10,345	10,020	9,512
Insurance commissions	19,106	17,233	16,853
Service charges on deposit accounts	20,879	21,176	22,771
Gains on securities transactions, net	777	2,487	745
Fees from loan servicing	6,441	6,641	7,013
Gains on sales of loans, net	22,030	4,245	1,731
Gains on sales of assets, net	1,358	2,776	18,087
Bank owned life insurance	6,694	6,815	6,392
Change in FDIC loss-share receivable	(1,291)	(3,326)	(20,792)
Other	16,886	15,735	15,304
Total non-interest income	103,225	83,802	77,616
Non-Interest Expense
Salary and employee benefits expense	235,853	221,765	193,489
Net occupancy and equipment expense	87,140	90,521	74,492
FDIC insurance assessment	20,100	16,867	14,051
Amortization of other intangible assets	11,327	9,169	9,919
Professional and legal fees	17,755	18,945	16,859
Loss on extinguishment of debt	315	51,129	10,132
Amortization of tax credit investments	34,744	27,312	24,196
Telecommunication expenses	10,021	8,259	6,993
Other	58,870	55,108	53,124
Total non-interest expense	476,125	499,075	403,255
Income before income taxes	233,380	126,895	147,234
Income tax expense	65,234	23,938	31,062
Net Income	168,146	102,957	116,172
Dividends on preferred stock	7,188	3,813	0
Net Income Available to Common Shareholders	$ 160,958	$ 99,144	$ 116,172
Earnings Per Common Share:
Basic (in usd per share)	$ 0.63	$ 0.42	$ 0.56
Diluted (in usd per share)	0.63	0.42	0.56
Cash dividends declared per common share (in usd per share)	$ 0.44	$ 0.44	$ 0.44
Weighted Average Number of Common Shares Outstanding:
Basic (in shares)	254,841,571	234,405,909	205,716,293
Diluted (in shares)	255,268,336	234,437,000	205,716,293

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 168,146	$ 102,957	$ 116,172
Other comprehensive income (loss), net of tax:
Net (losses) gains arising during the period	(4,293)	(2,000)	19,398
Less reclassification adjustment for net gains included in net income	(465)	(1,446)	(433)
Total	(4,758)	(3,446)	18,965
Non-credit impairment losses on available for sale and held to maturity securities
Net change in non-credit impairment losses on securities	417	(241)	1,334
Less reclassification adjustment for accretion of credit impairment losses included in net income	(539)	(424)	(383)
Total	(122)	(665)	951
Unrealized gains and losses on derivatives (cash flow hedges)
Net losses on derivatives arising during the period	(2,461)	(7,239)	(12,147)
Less reclassification adjustment for net losses included in net income	7,641	4,127	3,886
Total	5,180	(3,112)	(8,261)
Defined benefit pension plan
Net gains (losses) arising during the period	3,298	3,444	(16,207)
Amortization of prior service cost	(181)	117	177
Amortization of net loss	185	462	132
Total	3,302	4,023	(15,898)
Total other comprehensive income (loss)	3,602	(3,200)	(4,243)
Total comprehensive income	$ 171,748	$ 99,757	$ 111,929

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Preferred Stock	Common Stock	Preferred Stock	Preferred StockPreferred Stock	Common Stock	Common StockCommon Stock	Surplus	SurplusCommon Stock	Retained Earnings	Retained EarningsPreferred Stock	Retained EarningsCommon Stock	Accumulated Other Comprehensive Loss	Treasury Stock	Treasury StockCommon Stock
Beginning balance at Dec. 31, 2013	$ 1,541,040			$ 0		$ 69,941		$ 1,403,375		$ 106,340			$ (38,252)	$ (364)
Beginning balance, shares at Dec. 31, 2013						199,593
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	116,172									116,172
Other comprehensive loss, net of tax	(4,243)												(4,243)
Cash dividends declared on stock	(91,581)									(91,581)
Effect of stock incentive plan, net	5,806					$ 234		6,269		(83)				(614)
Effect of stock incentive plan, net, shares						1,299
Stock issued	295,823					$ 10,897		284,108		(3)				821
Stock issued, shares						31,219
Ending balance at Dec. 31, 2014	1,863,017			0		$ 81,072		1,693,752		130,845			(42,495)	(157)
Ending balance, shares at Dec. 31, 2014						232,111
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	102,957									102,957
Other comprehensive loss, net of tax	(3,200)												(3,200)
Cash dividends declared on stock		$ (3,813)	$ (104,753)								$ (3,813)	$ (104,753)
Effect of stock incentive plan, net	4,715					$ 190		7,153		(30)				(2,598)
Effect of stock incentive plan, net, shares						500
Stock issued		111,590	236,578		$ 111,590		$ 7,364		$ 226,494			(35)		2,755
Stock issued, shares							21,177
Ending balance at Dec. 31, 2015	2,207,091			111,590		$ 88,626		1,927,399		125,171			(45,695)	0
Ending balance, shares at Dec. 31, 2015						253,788
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	168,146									168,146
Other comprehensive loss, net of tax	3,602												3,602
Cash dividends declared on stock		$ (7,188)	(113,212)								$ (7,188)	(113,212)
Effect of stock incentive plan, net	7,065					$ 365		10,737		(143)				(3,894)
Effect of stock incentive plan, net, shares						57
Stock issued			$ 111,652				$ 3,362		$ 106,265			$ (20)			$ 2,045
Stock issued, shares							9,794
Ending balance at Dec. 31, 2016	$ 2,377,156			$ 111,590		$ 92,353		$ 2,044,401		$ 172,754			$ (42,093)	$ (1,849)
Ending balance, shares at Dec. 31, 2016						263,639

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net income	$ 168,146	$ 102,957	$ 116,172
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	24,431	21,082	19,465
Stock-based compensation	10,032	7,575	7,489
Provision for credit losses	11,869	8,101	1,884
Net amortization of premiums and accretion of discounts on securities and borrowings	24,310	22,080	26,949
Amortization of other intangible assets	11,327	9,169	9,919
Gains on securities transactions, net	(777)	(2,487)	(745)
Proceeds from sales of loans held for sale	572,439	144,790	85,452
Gains on sales of loans, net	(22,030)	(4,245)	(1,731)
Originations of loans held for sale	(425,713)	(134,328)	(91,463)
Gains on sales of assets, net	(1,358)	(2,776)	(18,087)
Net deferred income tax expense	27,154	16,453	11,455
FDIC loss-share receivable (excluding reimbursements)	1,291	3,326	20,792
Net change in:
Trading securities	0	14,233	31
Fair value of borrowings hedged by derivative transactions	6,158	1,473	1,364
Cash surrender value of bank owned life insurance	(6,694)	(6,815)	(6,392)
Accrued interest receivable	(3,262)	(2,480)	423
Other assets	46,167	(74,589)	15,867
Accrued expenses and other liabilities	(24,313)	31,410	(14,868)
Net cash provided by operating activities	419,177	154,929	183,976
Cash flows from investing activities:
Net loan originations and purchases	(1,379,218)	(1,756,578)	(778,300)
Investment securities held to maturity:
Purchases	(669,157)	(239,608)	(397,186)
Sales	0	11,666	0
Maturities, calls and principal repayments	325,766	402,485	347,531
Investment securities available for sale:
Purchases	(679,530)	(594,327)	(28,415)
Sales	4,782	140,640	62,025
Maturities, calls and principal repayments	867,998	142,588	153,673
Death benefit proceeds from bank owned life insurance	2,406	0	0
Proceeds from sales of real estate property and equipment	20,560	23,861	43,360
Purchases of real estate property and equipment	(20,707)	(34,040)	(21,862)
(Payments to) reimbursements from the FDIC	(213)	1,889	5,582
Cash and cash equivalents acquired in acquisitions	0	201,025	102,025
Net cash used in investing activities	(1,527,313)	(1,700,399)	(511,567)
Cash flows from financing activities:
Net change in deposits	1,477,157	1,051,660	1,300,011
Net change in short-term borrowings	3,969	873,123	(151,470)
Proceeds from issuance of long-term borrowings, net	385,000	162,792	0
Repayments of long-term borrowings	(769,182)	(970,000)	(275,000)
Proceeds from issuance of preferred stock, net	0	111,590	0
Dividends paid to preferred shareholders	(7,188)	(3,813)	0
Cash dividends paid to common shareholders	(111,813)	(102,279)	(88,119)
Purchase of common shares to treasury	(3,191)	(2,108)	(1,688)
Common stock issued, net	112,085	7,898	5,096
Net cash provided by financing activities	1,086,837	1,128,863	788,830
Net change in cash and cash equivalents	(21,299)	(416,607)	461,239
Cash and cash equivalents at beginning of year	413,800	830,407	369,168
Cash and cash equivalents at end of year	392,501	413,800	830,407
Supplemental disclosures of cash flow information:
Interest on deposits and borrowings	151,209	159,170	162,762
Federal and state income taxes	26,564	50,027	34,236
Supplemental schedule of non-cash investing activities:
Transfer of loans to other real estate owned	8,089	8,828	11,012
Loans transferred to loans held for sale	174,501	0	27,329
Non-cash assets acquired:
Loans	0	822,716	1,160,269
Premises and equipment	0	8,550	11,234
Bank owned life insurance	0	5,090	25,224
Accrued interest receivable	0	3,741	3,792
Goodwill	0	113,587	148,115
Other intangible assets	0	18,616	9,750
Other assets	0	49,831	52,349
Total non-cash assets acquired	0	1,349,283	1,634,737
Liabilities assumed:
Deposits	0	1,167,725	1,414,843
Short-term borrowings	0	57,087	16,796
Long-term borrowings	0	90,738	0
Accrued expenses and other liabilities	0	5,156	13,900
Total liabilities assumed	0	1,320,706	1,445,539
Net non-cash assets acquired	0	28,577	189,198
Net cash and cash equivalents acquired in acquisition	0	201,025	102,025
Common stock issued in acquisition	0	229,602	291,223
Held-to-maturity securities
Non-cash assets acquired:
Investments acquired	0	0	7,930
Available for sale securities
Non-cash assets acquired:
Investments acquired	$ 0	$ 327,152	$ 216,074

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Note 1) Business Valley National Bancorp, a New Jersey Corporation (Valley), is a bank holding company whose principal wholly-owned subsidiary is Valley National Bank (the “Bank”), a national banking association providing a full range of commercial, retail and trust and investment services largely through its offices and ATM network throughout northern and central New Jersey, the New York City boroughs of Manhattan, Brooklyn and Queens, Long Island, and Florida. The Bank is subject to intense competition from other financial services companies and is subject to the regulation of certain federal and state agencies and undergoes periodic examinations by certain regulatory authorities. Valley National Bank’s subsidiaries are all included in the consolidated financial statements of Valley. These subsidiaries include, but are not limited to: • an all-line insurance agency offering property and casualty, life and health insurance; • an asset management adviser that is a registered investment adviser with Securities and Exchange Commission (SEC); • title insurance agencies in New Jersey, New York and Florida; • subsidiaries which hold, maintain and manage investment assets for the Bank; • a subsidiary which owns and services auto loans; • a subsidiary which specializes in health care equipment lending and other commercial equipment leases; and • a subsidiary which owns and services New York commercial loans. The Bank’s subsidiaries also include real estate investment trust subsidiaries (the “REIT” subsidiaries) which own real estate related investments and a REIT subsidiary which owns some of the real estate utilized by the Bank and related real estate investments. Except for Valley’s REIT subsidiaries, all subsidiaries mentioned above are directly or indirectly wholly-owned by the Bank. Because each REIT subsidiary must have 100 or more shareholders to qualify as a REIT, each REIT subsidiary has issued less than 20 percent of its outstanding non-voting preferred stock to individuals, most of whom are non-senior management Bank employees. The Bank owns the remaining preferred stock and all the common stock of the REITs. Basis of Presentation The consolidated financial statements of Valley include the accounts of its commercial bank subsidiary, Valley National Bank and all of Valley’s direct or indirect wholly-owned subsidiaries. All inter-company transactions and balances have been eliminated. The accounting and reporting policies of Valley conform to U.S. generally accepted accounting principles (U.S. GAAP) and general practices within the financial services industry. In accordance with applicable accounting standards, Valley does not consolidate statutory trusts established for the sole purpose of issuing trust preferred securities and related trust common securities. See Note 11 for more details. Certain prior period amounts have been reclassified to conform to the current presentation. In preparing the consolidated financial statements in conformity with U.S. GAAP, management has made estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated statements of financial condition and results of operations for the periods indicated. Material estimates that are particularly susceptible to change are: the allowance for loan losses; the evaluation of goodwill and other intangible assets, and investment securities for impairment; fair value measurements of assets and liabilities; and income taxes. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the consolidated financial statements in the period they are deemed necessary. While management uses its best judgment, actual amounts or results could differ significantly from those estimates. The current economic environment has increased the degree of uncertainty inherent in these material estimates. Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, interest bearing deposits in other banks (including the Federal Reserve Bank of New York) and, from time to time, overnight federal funds sold. The Bank is required to maintain reserve balances in cash or on deposit with the Federal Reserve Bank based on a percentage of deposits. These reserve balances totaled $113.8 million and $59.9 million at December 31, 2016 and 2015 , respectively. Investment Securities At the time of purchase, management generally elects to classify investment securities into one of two categories: held to maturity or available for sale. Investment securities are classified as held to maturity and carried at amortized cost when management has the positive intent and ability to hold to maturity. Investment securities to be held for indefinite periods are classified as available for sale and carried at fair value, with unrealized holding gains and losses reported as a component of other comprehensive income or loss, net of tax. Realized gains or losses on the sale of available for sale are recognized by the specific identification method and are included in net gains on securities transactions. Investments in Federal Home Loan Bank and Federal Reserve Bank stock, which have limited marketability, are carried at cost in other assets. Quarterly, Valley evaluates its investment securities classified as held to maturity and available for sale for other-than-temporary impairment. Other-than-temporary impairment means Valley believes the security’s impairment is due to factors that could include the issuer’s inability to pay interest or dividends, the potential for default, and/or other factors. When a held to maturity or available for sale debt security is assessed for other-than-temporary impairment, Valley has to first consider (a) whether it intends to sell the security, and (b) whether it is more likely than not that Valley will be required to sell the security prior to recovery of its amortized cost basis. If neither of these circumstances applies to a security, but Valley does not expect to recover the entire amortized cost basis, an other-than-temporary impairment loss has occurred that must be separated into two categories: (a) the amount related to credit loss, and (b) the amount related to other factors. In assessing the level of other-than-temporary impairment attributable to credit loss, Valley compares the present value of cash flows expected to be collected with the amortized cost basis of the security. The portion of the total other-than-temporary impairment related to credit loss is recognized in earnings, while the portion related to other factors is recognized in other comprehensive income or loss. The total other-than-temporary impairment loss is presented in the statement of income, less the portion recognized in other comprehensive income or loss. When a debt security becomes other-than-temporarily impaired, its amortized cost basis is reduced to reflect the portion of the total impairment related to credit loss. There was no other-than-temporary impairment recognized in earnings as a result of Valley's impairment analysis of its securities during 2016 , 2015 and 2014 . To determine whether a security’s impairment is other-than-temporary, Valley considers factors that include, among others, the causes of the decline in fair value, such as credit problems, interest rate fluctuations, or market volatility; the severity and duration of the decline; Valley’s ability and intent to hold equity security investments until they recover in value (as well as the likelihood of such a recovery in the near term); Valley’s intent to sell security investments; and whether it is more likely than not that Valley will be required to sell such securities before recovery of their individual amortized cost basis. For debt securities, the primary consideration in determining whether impairment is other-than-temporary is whether or not it is probable that current and/or future contractual cash flows have been or may be impaired. See the “Other-Than-Temporary Impairment Analysis” section of Note 4 for further discussion. Interest income on investments includes amortization of purchase premiums and discounts. Realized gains and losses are derived based on the amortized cost of the security sold. Valley discontinues the recognition of interest on debt securities if the securities meet both of the following criteria: (i) regularly scheduled interest payments have not been paid or have been deferred by the issuer, and (ii) full collection of all contractual principal and interest payments is not deemed to be the most likely outcome, resulting in the recognition of other-than-temporary impairment of the security. Loans Held for Sale Loans held for sale generally consist of conforming residential mortgage loans originated and intended for sale in the secondary market and are carried at their estimated fair value on an instrument-by-instrument basis as permitted by the fair value option election under U.S. GAAP. Changes in fair value are recognized in non-interest income in the accompanying consolidated statements of income as a component of net gains on sales of loans. Origination fees and costs related to loans held for sale are recognized as earned and as incurred. Loans held for sale are generally sold with loan servicing rights retained by Valley. Gains recognized on loan sales include the value assigned to the rights to service the loan. See “Loan Servicing Rights” section below. Loans and Loan Fees Loans are reported at their outstanding principal balance net of any unearned income, charge-offs, unamortized deferred fees and costs on originated loans and premium or discounts on purchased loans, except for purchased credit-impaired loans. Loan origination and commitment fees, net of related costs are deferred and amortized as an adjustment of loan yield over the estimated life of the loans approximating the effective interest method. Loans are deemed to be past due when the contractually required principal and interest payments have not been received as they become due. Loans are placed on non-accrual status generally, when they become 90 days past due and the full and timely collection of principal and interest becomes uncertain. When a loan is placed on non-accrual status, interest accruals cease and uncollected accrued interest is reversed and charged against current income. Payments received on non-accrual loans are generally applied against principal. A loan in which the borrowers’ obligation has not been released in bankruptcy courts may be restored to an accruing basis when it becomes well secured and is in the process of collection, or all past due amounts become current under the loan agreement and collectability is no longer doubtful. Purchased Credit-Impaired Loans (Including Covered Loans) Purchased credit-impaired (PCI) loans are loans acquired at a discount (that is due, in part, to credit quality). Valley's PCI loan portfolio primarily consists of loans acquired in business combinations subsequent to 2011 and (covered) loans in which the Bank will share losses with the FDIC under loss-sharing agreements that have resulted from past FDIC-assisted transactions by Valley and acquired from 1st United Bancorp, Inc. (1st United) in 2014. The PCI loans are initially recorded at fair value (as determined by the present value of expected future cash flows) with no allowance for loan losses. Interest income on PCI loans has been accounted for based on the acquired loans’ expected cash flows. The PCI loans may be aggregated and accounted for as a pool of loans if the loans being aggregated have common risk characteristics. A pool is accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flow. The difference between the undiscounted cash flows expected at acquisition and the investment in the loans, or the “accretable yield,” is recognized as interest income utilizing the level-yield method over the life of each pool. Contractually required payments for interest and principal that exceed the undiscounted cash flows expected at acquisition, or the “nonaccretable difference,” are not recognized as a yield adjustment or as a loss accrual or an allowance for loan losses. Increases in expected cash flows subsequent to the acquisition are recognized prospectively through adjustment of the yield on the pool over its remaining life, while decreases in expected cash flows are recognized as impairment through a loss provision and an increase in the allowance for loan losses. Therefore, the allowance for loan losses on these impaired pools reflect only losses incurred after the acquisition (representing the present value of all cash flows that were expected at acquisition but currently are not expected to be received). Any allowance for loan losses related to covered PCI loans is determined without consideration of the amounts recoverable through the FDIC loss-share agreements (see “FDIC Loss-Share Receivable” below). Valley had no allowance reserves related to PCI loans at December 31, 2016 and 2015 . The Bank periodically evaluates the remaining contractual required payments due and estimates of cash flows expected to be collected for the underlying loans of each PCI loan pool. These evaluations, performed quarterly, require the continued use of key assumptions and estimates, similar to the initial estimate of fair value. Changes in the contractual required payments due and estimated cash flows expected to be collected may result in changes in the accretable yield and non-accretable difference or reclassifications between accretable yield and the non-accretable difference. For the pools with better than expected cash flows, the forecasted increase is recorded as an additional accretable yield that is recognized as a prospective increase to our interest income on loans and the FDIC loss-share receivable, if applicable, is prospectively reduced by the guaranteed portion of the additional cash flows expected to be received, with a corresponding reduction to non-interest income. See Note 5 for additional information. PCI loans that may have been classified as non-performing loans by an acquired bank are no longer classified as non-performing because these loans are accounted for on a pooled basis. Management’s judgment is required in classifying loans in pools as performing loans, and is dependent on having a reasonable expectation about the timing and amount of the pool cash flows to be collected, even if certain loans within the pool are contractually past due. FDIC Loss-Share Receivable Valley National Bank has several loss-share agreements with the FDIC (referred to as the “FDIC loss-share receivable” reported within other assets on Valley’s consolidated statements of financial condition) which relate to the LibertyPointe Bank and The Park Avenue Bank transactions entered into by Valley in 2010, as well as three prior FDIC-assisted transactions by 1st United (including Republic Federal Bank, The Bank of Miami and Old Harbor Bank) acquired by Valley in 2014. The FDIC loss-share receivable arising from the loss-share agreements is measured separately from the covered loan pools because the agreements are not contractually part of the covered loans and are not transferable should the Bank choose to dispose of the covered loans. At the date of acquisition, the FDIC loss-share receivable was measured at its fair value based on expected future cash flows covered by the loss share agreements. In addition, the asset is based on the credit adjustments estimated for each loan pool and the loss-share percentages. Our FDIC loss-share receivable totaled $7.2 million and $8.3 million at December 31, 2016 and 2015 , respectively. Although this asset represents a contractual receivable from the FDIC, there is no contractual interest rate associated with the asset. The difference between the present value and the undiscounted cash flow expected to be collected from the FDIC is accreted into non-interest income over the life of the FDIC loss-share receivable. Actual or expected losses in excess of the acquisition date estimates result in an increase in the FDIC loss-share receivable. Conversely, when actual or expected losses are less than the acquisition date estimates, the loss share receivable is decreased. This reduction is recognized prospectively over the shorter of (i) the estimated life of the respective pools of covered loans or (ii) the term of the loss-sharing agreements with the FDIC. The FDIC loss-share receivable is also reduced and increased as loss-sharing payments are received from and made to the FDIC. Effective January 1, 2015, the losses on commercial related loans (commercial and industrial loans and commercial real estate loans) from the Republic Federal Bank transaction ceased being covered under the loss-share agreement. Any recoveries, net of expenses, of losses incurred prior to January 1, 2015 on such loans will continue to be covered (and must be shared with the FDIC in accordance with the loss-share agreement) through December 31, 2017. The losses on consumer related loans (residential mortgage loans and consumer loans) continue to be covered under the loss-share agreement through December 31, 2019. Under the terms of this loss-sharing agreement with the FDIC, losses are shared on the acquired loan and other real estate owned portfolio between 80 percent and 95 percent based upon certain aggregate loss limits. Effective April 1, 2015, the losses on commercial related loans from the LibertyPointe Bank and The Park Avenue Bank transactions ceased to be covered under the loss-share agreements. Any recoveries, net of expenses, of losses incurred prior to April 1, 2015 on such loans will continue to be covered by the loss-sharing agreement through March 31, 2018. The losses on consumer related loans will continue to be covered under the loss-share agreements through March 31, 2020. Under the terms of the loss-sharing agreements for the LibertyPointe Bank and The Park Avenue Bank transaction, the FDIC is obligated to reimburse Valley for 80 percent and 95 percent , respectively, of any future losses on covered consumer loans up to certain aggregate loss limits. Effective January 1, 2016, the losses on commercial related loans from The Bank of Miami transaction ceased to be covered under the loss-share agreement. Any recoveries, net of expenses, of losses incurred prior to January 1, 2016 on such loans will continue to be covered through December 31, 2018. The losses on consumer related loans continue to be covered under the loss-share agreement through December 31, 2020. Under the terms of this loss-sharing agreement with the FDIC, losses are shared on the acquired loan and other real estate owned portfolio up to 80 percent of the covered assets acquired. Effective January 1, 2017, the losses on commercial related loans from the Old Harbor Bank transaction ceased to be covered under the loss-share agreement. Any recoveries, net of expenses, on losses incurred prior that date will be shared with the FDIC in accordance with the loss-share agreement through December 31, 2019. The losses on consumer related loans will continue to be covered under the loss-share agreement through October 31, 2021. Under the terms of this loss-sharing agreement with the FDIC, losses are shared on the acquired loans and other real estate owned portfolio up to 70 percent of those covered assets within certain aggregate loss limits. Allowance for Credit Losses The allowance for credit losses (the “allowance”) is increased through provisions charged against current earnings and additionally by crediting amounts of recoveries received, if any, on previously charged-off loans. The allowance is reduced by charge-offs on loans or unfunded letters of credit which are determined to be a loss, in accordance with established policies, when all efforts of collection have been exhausted. The allowance is maintained at a level estimated to absorb probable credit losses inherent in the loan portfolio as well as other credit risk related charge-offs. The allowance is based on ongoing evaluations of the probable estimated losses inherent in the non-PCI loan portfolio and off-balance sheet unfunded letters of credit, as well as reserves for impairment of PCI loans subsequent to their acquisition date. As discussed under the “Purchased Credit-Impaired Loans” section above, Valley had no allowance reserves related to PCI loans at December 31, 2016 and 2015 . The Bank’s methodology for evaluating the appropriateness of the allowance includes grouping the non-covered loan portfolio into loan segments based on common risk characteristics, tracking the historical levels of classified loans and delinquencies, estimating the appropriate loss look-back and loss emergence periods related to historical losses for each loan segment, providing specific reserves on impaired loans, and assigning incremental reserves where necessary based upon qualitative and economic outlook factors including numerous variables, such as the nature and trends of recent loan charge-offs. Additionally, the volume of non-performing loans, concentration risks by size, type, and geography, new markets, collateral adequacy, credit policies and procedures, staffing, underwriting consistency, loan review and economic conditions are taken into consideration. The allowance for loan losses consists of four elements: (i) specific reserves for individually impaired credits, (ii) reserves for adversely classified, or higher risk rated, loans that are not impaired, (iii) reserves for other loans based on historical loss factors (using the appropriate loss look-back and loss emergence periods) adjusted for both internal and external qualitative risk factors to Valley, including the aforementioned factors, as well as changes in both organic and purchased loan portfolio volumes, the composition and concentrations of credit, new market initiatives, and the impact of competition on loan structuring and pricing, and (iv) an allowance for PCI loan pools impaired subsequent to the acquisition date, if applicable. The Credit Risk Management Department individually evaluates non-accrual (non-homogeneous) commercial and industrial loans and commercial real estate loans over $250 thousand and all troubled debt restructured loans. The value of an impaired loan is measured based upon the underlying anticipated method of payment consisting of either the present value of expected future cash flows discounted at the loan’s effective interest rate, or the fair value of the collateral, if the loan is collateral dependent, and its payment is expected solely based on the underlying collateral. If the value of an impaired loan is less than its carrying amount, impairment is recognized through a provision to the allowance for loan losses. Collateral dependent impaired loan balances are written down to the estimated current fair value (less estimated selling costs) of each loan’s underlying collateral resulting in an immediate charge-off to the allowance, excluding any consideration for personal guarantees that may be pursued in the Bank’s collection process. If repayment is based upon future expected cash flows, the present value of the expected future cash flows discounted at the loan’s original effective interest rate is compared to the carrying value of the loan, and any shortfall is recorded as a specific valuation allowance in the allowance for loan losses. Accrual of interest is discontinued on an impaired loan when management believes, after considering collection efforts and other factors, the borrower’s financial condition is such that collection of interest is doubtful. Cash collections from non-accrual loans are generally credited to the loan balance, and no interest income is recognized on these loans until the principal balance has been determined to be fully collectible. Residential mortgage loans and consumer loans usually consist of smaller balance homogeneous loans that are collectively evaluated for impairment, and are specifically excluded from the impaired loan portfolio, except where the loan is classified as a troubled debt restructured loan. The allowances established for probable losses on specific loans are based on a regular analysis and evaluation of the loans. Loans are evaluated based on an internal credit risk rating system for the commercial and industrial loan and commercial real estate loan portfolio segments and non-performing loan status for the residential and consumer loan portfolio segments. Loans are risk-rated based on an internal credit risk grading process that evaluates, among other things: (i) the obligor’s ability to repay; (ii) the underlying collateral, if any; and (iii) the economic environment and industry in which the borrower operates. This analysis is performed at the relationship manager level for all commercial and industrial loans and commercial real estate loans, and evaluated by the Loan Review Department on a test basis. Loans with a grade that is below “Pass” grade are adversely classified. See Note 5 for details. Any change in the credit risk grade of adversely classified performing and/or non-performing loans affects the amount of the related allowance. Once a loan is adversely classified, the assigned relationship manager and/or a special assets officer in conjunction with the Credit Risk Management Department analyze the loan to determine whether the loan is impaired and, if impaired, the need to specifically assign a valuation allowance for loan losses to the loan. Specific valuation allowances are determined by analyzing the borrower’s ability to repay amounts owed, collateral deficiencies, the relative risk grade of the loan and economic conditions affecting the borrower’s industry, among other things. Loans identified as losses by management are charged-off. Commercial loans are generally assessed for full or partial charge-off to the net realizable value for collateral dependent loans when a loan is between 90 or 120 days past due or sooner if it is probable that a loan may not be fully collectable. Residential loans and home equity loans are generally charged-off to net realizable value when the loan is 120 days past due (or sooner when the borrowers’ obligation has been released in bankruptcy). Automobile loans are fully charged-off when the loan is 120 days past due or partially charged-off to the net realizable value of collateral, if the collateral is recovered prior to such time. Unsecured consumer loans are generally fully charged-off when the loan is 150 days past due. The allowance allocations for other loans (i.e., risk rated loans that are not adversely classified and loans that are not risk rated) are calculated by applying historical loss factors for each loan portfolio segment to the applicable outstanding loan portfolio balances. Loss factors are calculated using statistical analysis supplemented by management judgment. The statistical analysis considers historical default rates, historical loss severity in the event of default, and the average loss emergence period for each loan portfolio segment. The management analysis includes an evaluation of loan portfolio volumes, the composition and concentrations of credit, credit quality and current delinquency trends. See Notes 5 and 6 for Valley’s loan credit quality and additional allowance disclosures. Premises and Equipment, Net Premises and equipment are stated at cost less accumulated depreciation computed using the straight-line method over the estimated useful lives of the related assets. Estimated useful lives range from 3 years for capitalized software to up to 40 years for buildings. Leasehold improvements are amortized over the term of the lease or estimated useful life of the asset, whichever is shorter. Major improvements are capitalized, while repairs and maintenance costs are charged to operations as incurred. Upon retirement or disposition, any gain or loss is credited or charged to operations. See Note 7 for further details. Bank Owned Life Insurance Valley owns bank owned life insurance (BOLI) to help offset the cost of employee benefits. BOLI is recorded at its cash surrender value. Valley’s BOLI is invested primarily in U.S. Treasury securities and residential mortgage-backed securities issued by government sponsored enterprises and Ginnie Mae. The majority of the underlying investment portfolio is managed by one independent investment firm. The change in the cash surrender value is included as a component of non-interest income and is exempt from federal and state income taxes as long as the policies are held until the death of the insured individuals. Other Real Estate Owned Valley acquires other real estate owned (OREO) through foreclosure on loans secured by real estate. OREO is reported at the lower of cost or fair value, as established by a current appraisal (less estimated costs to sell), and is included in other assets. Any write-downs at the date of foreclosure are charged to the allowance for loan losses. Expenses incurred to maintain these properties, unrealized losses resulting from valuation write-downs after the date of foreclosure, and realized gains and losses upon sale of the properties are included in other non-interest expense. OREO and other repossessed assets totaled $10.6 million and $19.0 million (including $588 thousand and $5.0 million of OREO properties related to the FDIC-assisted transactions, which are subject to the loss-sharing agreements) at December 31, 2016 and 2015 , respectively. At December 31, 2016 , OREO included foreclosed residential real estate properties totaling $1.6 million . Residential mortgage and consumer loans secured by residential real estate properties for which formal foreclosure proceedings are in process totaled $7.1 million at December 31, 2016 . Goodwill Intangible assets resulting from acquisitions under the acquisition method of accounting consist of goodwill and other intangible assets (see “Other Intangible Assets” below). Goodwill is not amortized and is subject to an annual assessment for impairment. Currently, the goodwill impairment analysis is generally a two-step test. However, Valley may choose to perform an optional qualitative assessment to determine whether it is necessary to perform the two-step quantitative goodwill impairment test for one or more units in future periods. During 2016 and 2015 , Valley elected to perform step one of the two-step goodwill impairment test for all of its reporting units. Goodwill is allocated to Valley’s reporting unit, which is a business segment or one level below, at the date goodwill is actually recorded. If the carrying value of a reporting unit exceeds its estimated fair value, a second step in the analysis is performed to determine the amount of impairment, if any. The second step compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. If the carrying value of a reporting unit exceeds the implied fair value of the goodwill, an impairment charge is recorded equal to the excess amount in the current period earnings. Valley reviews goodwill annually or more frequently if a triggering event indicates impairment may have occurred, to determine potential impairment by determining if the fair value of the reporting unit has fallen below the carrying value. Other Intangible Assets Other intangible assets primarily consist of loan servicing rights (largely generated from loan servicing retained by the Bank on residential mortgage loan originations sold in the secondary market to government sponsored enterprises), core deposits (the portion of an acquisition purchase price which represents value assigned to the existing deposit base), customer lists, and covenants not to compete obtained through acquisitions. Other intangible assets are amortized using various methods over their estimated lives and are periodically evaluated for impairment whenever events or changes in circumstances indicate the carrying amount of the assets may not be recoverable from future undiscounted cash flows. If impairment is deemed to exist, an adjustment is recorded to earnings in the current period for the difference between the fair value of the asset and its carrying amount. See further details regarding loan servicing rights below. Loan Servicing Rights Loan servicing rights are recorded when originated mortgage loans are sold with servicing rights retained, or when servicing rights are p

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Business Combinations	BUSINESS COMBINATIONS (Note 2) Masters Coverage Corp. On January 4, 2016, Masters Coverage Corp., an all-line insurance agency that is a wholly-owned subsidiary of the Bank, acquired certain assets of an independent insurance agency located in New York. The purchase price totaled approximately $1.4 million in cash and future cash consideration. CNLBancshares, Inc. On December 1, 2015, Valley completed its acquisition of CNLBancshares, Inc. (CNL) and its wholly-owned subsidiary, CNLBank, headquartered in Orlando, Florida, a commercial bank with approximately $1.6 billion in assets, $825 million in loans, $1.2 billion in deposits and 16 Florida branch offices at the date of its acquisition by Valley. The CNL acquisition increased Valley's Florida branch network to a total of 31 branches (after 5 branch closures mostly resulting from branch efficiency efforts during 2016) covering most major markets in central and southern Florida. The common shareholders of CNL received 0.705 of a share of Valley common stock for each CNL share they owned prior to the merger. The total consideration for the acquisition was approximately $230 million , consisting of 20.6 million shares of Valley common stock. Merger expenses totaled $1.8 million for the year ended December 31, 2015, which largely related to professional and legal fees included in non-interest expense on the consolidated statements of income. Valley also recorded a $3.3 million charge within income tax expense during 2015, which mostly related to the effect of the CNL acquisition on the valuation of our deferred tax assets. 1st United Bancorp, Inc. On November 1, 2014, Valley acquired 1st United Bancorp, Inc. (1st United) and its wholly-owned subsidiary, 1st United Bank, a commercial bank with approximately $1.7 billion in assets, $1.2 billion in loans, and $1.4 billion in deposits, before purchase accounting adjustments. The 1st United acquisition gave Valley its first Florida branch network consisting of 20 branches covering some of the most attractive urban banking markets in Florida, including locations throughout southeast Florida, the Treasure Coast, central Florida and central Gulf Coast regions. The common shareholders of 1st United received 0.89 of a share of Valley common stock for each 1st United share they owned prior to the merger. The total consideration for the acquisition was approximately $300 million , consisting of 30.7 million shares of Valley common stock and $8.9 million of cash consideration paid to 1st United stock option holders. In conjunction with the merger, Valley shareholders approved an amendment of its certificate of incorporation to increase its authorized common shares by 100 million shares during the third quarter of 2014. Merger expenses totaled $2.6 million for the year ended December 31, 2014, which largely related to professional and legal fees included in non-interest expense on the consolidated statements of income. Valley also recorded a $7.6 million charge within income tax expense for the fourth quarter of 2014 which mostly related to the effect of the 1st United acquisition on the valuation of our deferred tax assets. See Note 8 for addition information regarding goodwill and intangible assets resulting from business combinations.

Fair Value Measurement of Asset

Fair Value Measurement of Assets and Liabilities	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurement of Assets and Liabilities	FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Note 3) Accounting Standards Codification (ASC) Topic 820, “Fair Value Measurements and Disclosures,” establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below: Level 1 Unadjusted exchange quoted prices in active markets for identical assets or liabilities, or identical liabilities traded as assets that the reporting entity has the ability to access at the measurement date. Level 2 Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly (i.e., quoted prices on similar assets), for substantially the full term of the asset or liability. Level 3 Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). Assets and Liabilities Measured at Fair Value on a Recurring Basis and Non-Recurring Basis The following tables present the assets and liabilities that are measured at fair value on a recurring and non-recurring basis by level within the fair value hierarchy as reported on the consolidated statements of financial condition at December 31, 2016 and 2015 . The assets presented under “non-recurring fair value measurements” in the table below are not measured at fair value on an ongoing basis but are subject to fair value adjustments under certain circumstances (e.g., when an impairment loss is recognized). Fair Value Measurements at Reporting Date Using: December 31, Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in thousands) Recurring fair value measurements: Assets Investment securities: Available for sale: U.S. Treasury securities $ 49,591 $ 49,591 $ — $ — U.S. government agency securities 23,041 — 23,041 — Obligations of states and political subdivisions 119,767 — 119,767 — Residential mortgage-backed securities 1,015,542 — 1,005,589 9,953 Trust preferred securities 8,009 — 6,074 1,935 Corporate and other debt securities 60,565 8,064 52,501 — Equity securities 20,858 1,306 19,552 — Total available for sale 1,297,373 58,961 1,226,524 11,888 Loans held for sale (1) 57,708 — 57,708 — Other assets (2) 29,055 — 29,055 — Total assets $ 1,384,136 $ 58,961 $ 1,313,287 $ 11,888 Liabilities Other liabilities (2) $ 44,077 $ — $ 44,077 $ — Total liabilities $ 44,077 $ — $ 44,077 $ — Non-recurring fair value measurements: Collateral dependent impaired loans (3) $ 5,385 $ — $ — $ 5,385 Loan servicing rights 6,489 — — 6,489 Foreclosed assets (4) 4,532 — — 4,532 Total $ 16,406 $ — $ — $ 16,406 Fair Value Measurements at Reporting Date Using: December 31, Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in thousands) Recurring fair value measurements: Assets Investment securities: Available for sale: U.S. Treasury securities $ 549,473 $ 549,473 $ — $ — U.S. government agency securities 29,963 — 29,963 — Obligations of states and political subdivisions 124,966 — 124,966 — Residential mortgage-backed securities 696,428 — 684,777 11,651 Trust preferred securities 8,404 — 6,262 2,142 Corporate and other debt securities 77,552 17,710 59,842 — Equity securities 20,075 1,198 18,877 — Total available for sale 1,506,861 568,381 924,687 13,793 Loans held for sale (1) 16,382 — 16,382 — Other assets (2) 33,774 — 33,774 — Total assets $ 1,557,017 $ 568,381 $ 974,843 $ 13,793 Liabilities Other liabilities (2) $ 50,844 $ — $ 50,844 $ — Total liabilities $ 50,844 $ — $ 50,844 $ — Non-recurring fair value measurements: Collateral dependent impaired loans (3) $ 15,427 $ — $ — $ 15,427 Loan servicing rights 2,571 — — 2,571 Foreclosed assets (4) 16,672 — — 16,672 Total $ 34,670 $ — $ — $ 34,670 (1) Loans held for sale (which consist of residential mortgages) are carried at fair value and had contractual unpaid principal balances totaling approximately $58.2 million and $16.1 million at December 31, 2016 and 2015 , respectively. (2) Amount represents derivative financial instruments. (3) Excludes PCI loans. (4) Includes covered other real estate owned totaling $300 thousand and $4.2 million at December 31, 2016 and 2015 , respectively. The changes in Level 3 assets measured at fair value on a recurring basis for the years ended December 31, 2016 , 2015 and 2014 are summarized below: Available For Sale Securities 2016 2015 2014 (in thousands) Balance, beginning of the period $ 13,793 $ 19,309 $ 28,523 Net (losses) gains included in other comprehensive income (203 ) (1,072 ) 1,648 Sales — (2,674 ) (7,718 ) Settlements, net (1,702 ) (1,770 ) (3,144 ) Balance, end of the period $ 11,888 $ 13,793 $ 19,309 There were no changes in unrealized gains or losses on Level 3 assets included in earnings during 2016 , 2015 and 2014 . Transfers into and out of Level 3 assets are generally made in response to a decrease or an increase, respectively, in the availability of observable market data used in the securities’ pricing obtained primarily through independent pricing services or dealer market participants. See further details regarding the valuation techniques used for the fair value measurement of the financial instruments below. There were no transfers of assets into and out of Level 3, or between Level 1 and Level 2 during 2016 and 2015 . There have been no material changes in the valuation methodologies used at December 31, 2016 from December 31, 2015 . Assets and Liabilities Measured at Fair Value on a Recurring Basis The following valuation techniques were used for financial instruments measured at fair value on a recurring basis. All of the valuation techniques described below apply to the unpaid principal balance excluding any accrued interest or dividends at the measurement date. Interest income and expense are recorded within the consolidated statements of income depending on the nature of the instrument using the effective interest method based on acquired discount or premium. Available for sale securities. All U.S. Treasury securities, certain corporate and other debt securities, and certain common and preferred equity securities are reported at fair value utilizing Level 1 inputs. The majority of other investment securities are reported at fair value utilizing Level 2 inputs. The prices for these instruments are obtained through an independent pricing service or dealer market participants with whom Valley has historically transacted both purchases and sales of investment securities. Prices obtained from these sources include prices derived from market quotations and matrix pricing. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. Management reviews the data and assumptions used in pricing the securities by its third party provider to ensure the highest level of significant inputs are derived from market observable data. For certain securities, the inputs used by either dealer market participants or an independent pricing service may be derived from unobservable market information (Level 3 inputs). In these instances, Valley evaluates the appropriateness and quality of the assumption and the resulting price. In addition, Valley reviews the volume and level of activity for all available for sale and attempts to identify transactions which may not be orderly or reflective of a significant level of activity and volume. For securities meeting these criteria, the quoted prices received from either market participants or an independent pricing service may be adjusted, as necessary, to estimate fair value and this results in fair values based on Level 3 inputs. In determining fair value, Valley utilizes unobservable inputs which reflect Valley’s own assumptions about the inputs that market participants would use in pricing each security. In developing its assertion of market participant assumptions, Valley utilizes the best information that is both reasonable and available without undue cost and effort. In calculating the fair value for the available for sale securities under Level 3, Valley prepared present value cash flow models for certain private label mortgage-backed securities. The cash flows for the residential mortgage-backed securities incorporated the expected cash flow of each security adjusted for default rates, loss severities and prepayments of the individual loans collateralizing the security. The following table presents quantitative information about Level 3 inputs used to measure the fair value of these securities at December 31, 2016 : Security Type Valuation Technique Unobservable Input Range Weighted Average Private label mortgage-backed securities Discounted cash flow Prepayment rate 15.0 - 22.5% 19.1 % Default rate 3.6 - 33.2 9.0 Loss severity 45.6 - 66.0 60.0 Significant increases or decreases in any of the unobservable inputs in the table above in isolation would result in a significantly lower or higher fair value measurement of the securities. Generally, a change in the assumption used for the default rate is accompanied by a directionally similar change in the assumption used for the loss severity and a directionally opposite change in the assumption used for prepayment rates. For the Level 3 available for sale residential mortgage-backed securities (consisting of four private label securities), cash flow assumptions incorporated independent third party market participant data based on vintage year for each security. The discount rate utilized in determining the present value of cash flows for the mortgage-backed securities was arrived at by combining the yield on orderly transactions for similar maturity government sponsored mortgage-backed securities with (i) the historical average risk premium of similar structured private label securities, (ii) a risk premium reflecting current market conditions, including liquidity risk, and (iii) if applicable, a forecasted loss premium derived from the expected cash flows of each security. The estimated cash flows for each private label mortgage-backed security were then discounted at the aforementioned effective rate to determine the fair value. The quoted prices received from either market participants or independent pricing services are weighted with the internal price estimate to determine the fair value of each instrument. For the Level 3 available for sale trust preferred securities (consisting of one pooled security), the resulting estimated future cash flows were discounted at a yield determined by reference to similarly structured securities for which observable orderly transactions occurred. The discount rate for each security was applied using a pricing matrix based on credit, security type and maturity characteristics to determine the fair value. The fair value calculation is received from an independent valuation adviser. In validating the fair value calculation from an independent valuation adviser, Valley reviews the accuracy of the inputs and the appropriateness of the unobservable inputs utilized in the valuation to ensure the fair value calculation is reasonable from a market participant perspective. Loans held for sale. The conforming residential mortgage loans originated for sale are reported at fair value using Level 2 inputs. The fair values were calculated utilizing quoted prices for similar assets in active markets. To determine these fair values, the mortgages held for sale are put into multiple tranches, or pools, based on the coupon rate and maturity of each mortgage. The market prices for each tranche are obtained from both Fannie Mae and Freddie Mac. The market prices represent a delivery price, which reflects the underlying price each institution would pay Valley for an immediate sale of an aggregate pool of mortgages. The market prices received from Fannie Mae and Freddie Mac are then averaged and interpolated or extrapolated, where required, to calculate the fair value of each tranche. Depending upon the time elapsed since the origination of each loan held for sale, non-performance risk and changes therein were addressed in the estimate of fair value based upon the delinquency data provided to both Fannie Mae and Freddie Mac for market pricing and changes in market credit spreads. Non-performance risk did not materially impact the fair value of mortgage loans held for sale at December 31, 2016 and 2015 based on the short duration these assets were held and the high credit quality of these loans. Derivatives. Derivatives are reported at fair value utilizing Level 2 inputs. The fair value of Valley’s derivatives are determined using third party prices that are based on discounted cash flow analyses using observed market inputs, such as the LIBOR and Overnight Index Swap rate curves. The fair value of mortgage banking derivatives, consisting of interest rate lock commitments to fund residential mortgage loans and forward commitments for the future delivery of such loans (including certain loans held for sale at December 31, 2016 and 2015 ), is determined based on the current market prices for similar instruments provided by Freddie Mac and Fannie Mae. The fair values of most of the derivatives incorporate credit valuation adjustments, which consider the impact of any credit enhancements to the contracts, to account for potential nonperformance risk of Valley and its counterparties. The credit valuation adjustments were not significant to the overall valuation of Valley’s derivatives at December 31, 2016 and 2015 . Assets and Liabilities Measured at Fair Value on a Non-recurring Basis The following valuation techniques were used for certain non-financial assets measured at fair value on a non-recurring basis, including impaired loans reported at the fair value of the underlying collateral, loan servicing rights and foreclosed assets, which are reported at fair value upon initial recognition or subsequent impairment as described below. Impaired loans. Certain impaired loans are reported at the fair value of the underlying collateral if repayment is expected solely from the collateral and are commonly referred to as “collateral dependent impaired loans.” Collateral values are estimated using Level 3 inputs, consisting of individual appraisals that are significantly adjusted based on customized discounting criteria. At December 31, 2016 , appraisals were discounted up to 6.3 percent based on specific market data by location and property type. During 2016 and 2015 , collateral dependent impaired loans were individually re-measured and reported at fair value through direct loan charge-offs to the allowance for loan losses and/or a specific valuation allowance allocation based on the fair value of the underlying collateral. The collateral dependent loan charge-offs to the allowance for loan losses totaled $4.3 million and $5.4 million for the years ended December 31, 2016 and 2015 , respectively. These collateral dependent impaired loans with a total recorded investment of $8.4 million and $15.8 million at December 31, 2016 and 2015 , respectively, were reduced by specific valuation allowance allocations totaling $3.0 million and $352 thousand to a reported total net carrying amount of $5.4 million and $15.4 million at December 31, 2016 and 2015 , respectively. Loan servicing rights. Fair values for each risk-stratified group of loan servicing rights are calculated using a fair value model from a third party vendor that requires inputs that are both significant to the fair value measurement and unobservable (Level 3). The fair value model is based on various assumptions, including but not limited to, prepayment speeds, internal rate of return (“discount rate”), servicing cost, ancillary income, float rate, tax rate, and inflation. The prepayment speed and the discount rate are considered two of the most significant inputs in the model. At December 31, 2016 , the fair value model used prepayment speeds (stated as constant prepayment rates) from 0 percent up to 27 percent and a discount rate of 8 percent for the valuation of the loan servicing rights. A significant degree of judgment is involved in valuing the loan servicing rights using Level 3 inputs. The use of different assumptions could have a significant positive or negative effect on the fair value estimate. Impairment charges are recognized on loan servicing rights when the amortized cost of a risk-stratified group of loan servicing rights exceeds the estimated fair value. Valley recognized net impairment charges on loan servicing rights totaling $611 thousand and $88 thousand for the years ended December 31, 2016 and 2014, respectively, as compared to net recoveries of impairment charges totaling $303 thousand for the year ended December 31, 2015 . Foreclosed assets. Certain foreclosed assets (consisting of other real estate owned and other repossessed assets), upon initial recognition and transfer from loans, are re-measured and reported at fair value through a charge-off to the allowance for loan losses based upon the fair value of the foreclosed assets. The fair value of a foreclosed asset, upon initial recognition, is typically estimated using Level 3 inputs, consisting of an appraisal that is adjusted based on customized discounting criteria, similar to the criteria used for impaired loans described above. There were no adjustments to the appraisals of foreclosed assets at December 31, 2016 . During the years ended December 31, 2016 and 2015 , foreclosed assets measured at fair value upon initial recognition or subsequent re-measurement totaled $4.5 million and $16.7 million , respectively. The charge-offs of foreclosed assets to the allowance for loan losses totaled $1.7 million and $1.6 million for the years ended December 31, 2016 and 2015 , respectively. The re-measurement of foreclosed assets at fair value subsequent to their initial recognition resulted in losses of $1.0 million , $2.0 million and $4.7 million included in non-interest expense for the years ended December 31, 2016 , 2015 and 2014, respectively. Other Fair Value Disclosures ASC Topic 825, “Financial Instruments,” requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. The fair value estimates presented in the following table were based on pertinent market data and relevant information on the financial instruments available as of the valuation date. These estimates do not reflect any premium or discount that could result from offering for sale at one time the entire portfolio of financial instruments. Because no market exists for a portion of the financial instruments, fair value estimates may be based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. For instance, Valley has certain fee-generating business lines (e.g., its mortgage servicing operation, trust and investment management departments) that were not considered in these estimates since these activities are not financial instruments. In addition, the tax implications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in any of the estimates. The carrying amounts and estimated fair values of financial instruments not measured and not reported at fair value on the consolidated statements of financial condition at December 31, 2016 and 2015 were as follows: December 31, 2016 2015 Fair Value Hierarchy Carrying Amount Fair Value Carrying Amount Fair Value (in thousands) Financial assets Cash and due from banks Level 1 $ 220,791 $ 220,791 $ 243,575 $ 243,575 Interest bearing deposits with banks Level 1 171,710 171,710 170,225 170,225 Investment securities held to maturity: U.S. Treasury securities Level 1 138,830 147,495 138,978 149,483 U.S. government agency securities Level 2 11,329 11,464 12,859 13,130 Obligations of states and political subdivisions Level 2 566,590 577,826 504,865 527,263 Residential mortgage-backed securities Level 2 1,112,460 1,102,802 852,289 855,272 Trust preferred securities Level 2 59,804 47,290 59,785 46,437 Corporate and other debt securities Level 2 36,559 37,720 27,609 29,454 Total investment securities held to maturity 1,925,572 1,924,597 1,596,385 1,621,039 Net loans Level 3 17,121,684 16,756,655 15,936,929 15,824,475 Accrued interest receivable Level 1 66,816 66,816 63,554 63,554 Federal Reserve Bank and Federal Home Loan Bank stock (1) Level 1 147,127 147,127 145,068 145,068 Financial liabilities Deposits without stated maturities Level 1 14,591,837 14,591,837 13,095,647 13,095,647 Deposits with stated maturities Level 2 3,138,871 3,160,572 3,157,904 3,203,389 Short-term borrowings Level 1 1,080,960 1,081,751 1,076,991 1,076,991 Long-term borrowings Level 2 1,433,906 1,523,386 1,810,728 1,945,741 Junior subordinated debentures issued to capital trusts Level 2 41,577 45,785 41,414 44,127 Accrued interest payable (2) Level 1 10,675 10,675 13,110 13,110 (1) Included in other assets. (2) Included in accrued expenses and other liabilities. The following methods and assumptions were used to estimate the fair value of other financial assets and financial liabilities in the table above: Cash and due from banks and interest bearing deposits with banks. The carrying amount is considered to be a reasonable estimate of fair value because of the short maturity of these items. Investment securities held to maturity . Fair values are based on prices obtained through an independent pricing service or dealer market participants with whom Valley has historically transacted both purchases and sales of investment securities. Prices obtained from these sources include prices derived from market quotations and matrix pricing. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things (Level 2 inputs). Additionally, Valley reviews the volume and level of activity for all classes of held to maturity securities and attempts to identify transactions which may not be orderly or reflective of a significant level of activity and volume. For securities meeting these criteria, the quoted prices received from either market participants or an independent pricing service may be adjusted, as necessary. If applicable, the adjustment to fair value is derived based on present value cash flow model projections prepared by Valley utilizing assumptions similar to those incorporated by market participants. Loans . Fair values of loans are estimated by discounting the projected future cash flows using market discount rates that reflect the credit and interest-rate risk inherent in the loan. The discount rate is a product of both the applicable index and credit spread, subject to the estimated current new loan interest rates. The credit spread component is static for all maturities and may not necessarily reflect the value of estimating all actual cash flows repricing. Projected future cash flows are calculated based upon contractual maturity or call dates, projected repayments and prepayments of principal. Fair values estimated in this manner do not fully incorporate an exit-price approach to fair value, but instead are based on a comparison to current market rates for comparable loans. Accrued interest receivable and payable. The carrying amounts of accrued interest approximate their fair value due to the short-term nature of these items. Federal Reserve Bank and Federal Home Loan Bank stock. Federal Reserve Bank and FHLB stock are non-marketable equity securities and are reported at their redeemable carrying amounts, which approximate the fair value. Deposits. The carrying amounts of deposits without stated maturities (i.e., non-interest bearing, savings, NOW, and money market deposits) approximate their estimated fair value. The fair value of time deposits is based on the discounted value of contractual cash flows using estimated rates currently offered for alternative funding sources of similar remaining maturity. Short-term and long-term borrowings. The carrying amounts of certain short-term borrowings, including securities sold under agreement to repurchase and FHLB borrowings (and from time to time, federal funds purchased) approximate their fair values because they frequently re-price to a market rate. The fair values of other short-term and long-term borrowings are estimated by obtaining quoted market prices of the identical or similar financial instruments when available. When quoted prices are unavailable, the fair values of the borrowings are estimated by discounting the estimated future cash flows using current market discount rates of financial instruments with similar characteristics, terms and remaining maturity. Junior subordinated debentures issued to capital trusts. The fair value of debentures issued to capital trusts not carried at fair value is estimated utilizing the income approach, whereby the expected cash flows, over the remaining estimated life of the security, are discounted using Valley’s credit spread over the current yield on a similar maturity of U.S. Treasury security or the three-month LIBOR for the variable rate indexed debentures (Level 2 inputs). The credit spread used to discount the expected cash flows was calculated based on the median current spreads for all fixed and variable publicly traded trust preferred securities issued by banks.

Investment Securities

Investment Securities	12 Months Ended
	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Investment Securities	INVESTMENT SECURITIES (Note 4) Held to Maturity The amortized cost, gross unrealized gains and losses and fair value of investment securities held to maturity at December 31, 2016 and 2015 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) December 31, 2016 U.S. Treasury securities $ 138,830 $ 8,665 $ — $ 147,495 U.S. government agency securities 11,329 135 — 11,464 Obligations of states and political subdivisions: Obligations of states and state agencies 252,185 6,692 (1,428 ) 257,449 Municipal bonds 314,405 6,438 (466 ) 320,377 Total obligations of states and political subdivisions 566,590 13,130 (1,894 ) 577,826 Residential mortgage-backed securities 1,112,460 8,432 (18,090 ) 1,102,802 Trust preferred securities 59,804 40 (12,554 ) 47,290 Corporate and other debt securities 36,559 1,190 (29 ) 37,720 Total investment securities held to maturity $ 1,925,572 $ 31,592 $ (32,567 ) $ 1,924,597 December 31, 2015 U.S. Treasury securities $ 138,978 $ 10,505 $ — $ 149,483 U.S. government agency securities 12,859 271 — 13,130 Obligations of states and political subdivisions: Obligations of states and state agencies 194,547 10,538 (10 ) 205,075 Municipal bonds 310,318 11,955 (85 ) 322,188 Total obligations of states and political subdivisions 504,865 22,493 (95 ) 527,263 Residential mortgage-backed securities 852,289 11,018 (8,035 ) 855,272 Trust preferred securities 59,785 36 (13,384 ) 46,437 Corporate and other debt securities 27,609 1,894 (49 ) 29,454 Total investment securities held to maturity $ 1,596,385 $ 46,217 $ (21,563 ) $ 1,621,039 The age of unrealized losses and fair value of related securities held to maturity at December 31, 2016 and 2015 were as follows: Less than Twelve Months More than Twelve Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (in thousands) December 31, 2016 Obligations of states and political subdivisions: Obligations of states and state agencies $ 98,114 $ (1,428 ) $ — $ — $ 98,114 $ (1,428 ) Municipal bonds 27,368 (466 ) — — 27,368 (466 ) Total obligations of states and political subdivisions 125,482 (1,894 ) — — 125,482 (1,894 ) Residential mortgage-backed securities 692,108 (14,420 ) 114,505 (3,670 ) 806,613 (18,090 ) Trust preferred securities 45,898 (12,554 ) 45,898 (12,554 ) Corporate and other debt securities 2,971 (29 ) — — 2,971 (29 ) Total $ 820,561 $ (16,343 ) $ 160,403 $ (16,224 ) $ 980,964 $ (32,567 ) December 31, 2015 Obligations of states and political subdivisions: Obligations of states and state agencies $ 6,837 $ (5 ) $ 1,965 $ (5 ) $ 8,802 $ (10 ) Municipal bonds 8,814 (72 ) 10,198 (13 ) 19,012 (85 ) Total obligations of states and political subdivisions 15,651 (77 ) 12,163 (18 ) 27,814 (95 ) Residential mortgage-backed securities 244,440 (2,916 ) 162,756 (5,119 ) 407,196 (8,035 ) Trust preferred securities — — 45,047 (13,384 ) 45,047 (13,384 ) Corporate and other debt securities 2,951 $ (49 ) $ — $ — $ 2,951 $ (49 ) Total $ 263,042 $ (3,042 ) $ 219,966 $ (18,521 ) $ 483,008 $ (21,563 ) The unrealized losses on investment securities held to maturity are primarily due to changes in interest rates (including, in certain cases, changes in credit spreads) and, in some cases, lack of liquidity in the marketplace. The total number of security positions in the securities held to maturity portfolio in an unrealized loss position at December 31, 2016 was 132 as compared to 74 at December 31, 2015 . The unrealized losses within the residential mortgage-backed securities category of the held to maturity portfolio at December 31, 2016 mostly related to investment grade securities issued by Ginnie Mae. The unrealized losses existing for more than twelve months for trust preferred securities at December 31, 2016 primarily related to four non-rated single-issuer securities, issued by bank holding companies. All single-issuer trust preferred securities classified as held to maturity are paying in accordance with their terms, have no deferrals of interest or defaults and, if applicable, the issuers meet the regulatory capital requirements to be considered “well-capitalized institutions” at December 31, 2016 . Management does not believe that any individual unrealized loss as of December 31, 2016 included in the table above represents other-than-temporary impairment as management mainly attributes the declines in fair value to changes in interest rates and market volatility, not credit quality or other factors. Based on a comparison of the present value of expected cash flows to the amortized cost, management believes there are no credit losses on these securities. Valley does not have the intent to sell, nor is it more likely than not that Valley will be required to sell, the securities contained in the table above before the recovery of their amortized cost basis or maturity. During 2015, Valley sold one corporate debt security classified as held to maturity with an amortized cost of $9.8 million . See "Realized Gains and Losses" section below for further details regarding this transaction. As of December 31, 2016 , the fair value of investments held to maturity that were pledged to secure public deposits, repurchase agreements, lines of credit, and for other purposes required by law was $968.0 million . The contractual maturities of investments in debt securities held to maturity at December 31, 2016 are set forth in the table below. Maturities may differ from contractual maturities in residential mortgage-backed securities because the mortgages underlying the securities may be prepaid without any penalties. Therefore, residential mortgage-backed securities are not included in the maturity categories in the following summary. December 31, 2016 Amortized Cost Fair Value (in thousands) Due in one year $ 85,139 $ 85,139 Due after one year through five years 191,207 199,327 Due after five years through ten years 364,471 377,665 Due after ten years 172,295 159,664 Residential mortgage-backed securities 1,112,460 1,102,802 Total investment securities held to maturity $ 1,925,572 $ 1,924,597 Actual maturities of debt securities may differ from those presented above since certain obligations provide the issuer the right to call or prepay the obligation prior to scheduled maturity without penalty. The weighted-average remaining expected life for residential mortgage-backed securities held to maturity was 6.7 years at December 31, 2016 . Available for Sale The amortized cost, gross unrealized gains and losses and fair value of investment securities available for sale at December 31, 2016 and 2015 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) December 31, 2016 U.S. Treasury securities $ 51,020 $ 6 $ (1,435 ) $ 49,591 U.S. government agency securities 22,815 232 (6 ) 23,041 Obligations of states and political subdivisions: Obligations of states and state agencies 40,696 70 (424 ) 40,342 Municipal bonds 80,045 147 (767 ) 79,425 Total obligations of states and political subdivisions 120,741 217 (1,191 ) 119,767 Residential mortgage-backed securities 1,029,827 2,061 (16,346 ) 1,015,542 Trust preferred securities* 10,164 — (2,155 ) 8,009 Corporate and other debt securities 60,651 436 (522 ) 60,565 Equity securities 20,505 1,114 (761 ) 20,858 Total investment securities available for sale $ 1,315,723 $ 4,066 $ (22,416 ) $ 1,297,373 December 31, 2015 U.S. Treasury securities $ 551,173 $ 4 $ (1,704 ) $ 549,473 U.S. government agency securities 29,316 665 (18 ) 29,963 Obligations of states and political subdivisions: Obligations of states and state agencies 44,285 196 (67 ) 44,414 Municipal bonds 80,717 209 (374 ) 80,552 Total obligations of states and political subdivisions 125,002 405 (441 ) 124,966 Residential mortgage-backed securities 701,764 3,348 (8,684 ) 696,428 Trust preferred securities* 10,458 — (2,054 ) 8,404 Corporate and other debt securities 78,202 1,239 (1,889 ) 77,552 Equity securities 21,022 575 (1,522 ) 20,075 Total investment securities available for sale $ 1,516,937 $ 6,236 $ (16,312 ) $ 1,506,861 * Includes two pooled trust preferred securities, principally collateralized by securities issued by banks and insurance companies, at December 31, 2016 and 2015. The age of unrealized losses and fair value of related securities available for sale at December 31, 2016 and 2015 were as follows: Less than Twelve Months More than Twelve Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (in thousands) December 31, 2016 U.S. Treasury securities $ 48,660 $ (1,435 ) $ — $ — $ 48,660 $ (1,435 ) U.S. government agency securities 2,530 (4 ) 4,034 (2 ) 6,564 (6 ) Obligations of states and political subdivisions: Obligations of states and state agencies 28,628 (404 ) 753 (20 ) 29,381 (424 ) Municipal bonds 42,573 (506 ) 11,081 (261 ) 53,654 (767 ) Total obligations of states and political subdivisions 71,201 (910 ) 11,834 (281 ) 83,035 (1,191 ) Residential mortgage-backed securities 788,030 (11,889 ) 132,718 (4,457 ) 920,748 (16,346 ) Trust preferred securities 8,009 (2,155 ) 8,009 (2,155 ) Corporate and other debt securities 32,292 (294 ) 15,192 (228 ) 47,484 (522 ) Equity securities — — 14,883 (761 ) 14,883 (761 ) Total $ 942,713 $ (14,532 ) $ 186,670 $ (7,884 ) $ 1,129,383 $ (22,416 ) December 31, 2015 U.S. Treasury securities $ 548,538 $ (1,704 ) $ — $ — $ 548,538 $ (1,704 ) U.S. government agency securities 3,489 (5 ) 4,736 (13 ) 8,225 (18 ) Obligations of states and political subdivisions: Obligations of states and state agencies 24,359 (67 ) — — 24,359 (67 ) Municipal bonds 38,207 (128 ) 13,551 (246 ) 51,758 (374 ) Total obligations of states and political subdivisions 62,566 (195 ) 13,551 (246 ) 76,117 (441 ) Residential mortgage-backed securities 293,615 (4,147 ) 164,010 (4,537 ) 457,625 (8,684 ) Trust preferred securities — — 8,404 (2,054 ) 8,404 (2,054 ) Corporate and other debt securities 21,203 (471 ) 36,137 (1,418 ) 57,340 (1,889 ) Equity securities — — 14,273 (1,522 ) 14,273 (1,522 ) Total $ 929,411 $ (6,522 ) $ 241,111 $ (9,790 ) $ 1,170,522 $ (16,312 ) The unrealized losses on investment securities available for sale are primarily due to changes in interest rates (including, in certain cases, changes in credit spreads) and, in some cases, lack of liquidity in the marketplace. The total number of security positions in the securities available for sale portfolio in an unrealized loss position at December 31, 2016 was 298 as compared to 291 at December 31, 2015 . The unrealized losses more than twelve months for the residential mortgage-backed securities category of the available for sale portfolio at December 31, 2016 largely related to several investment grade securities mainly issued by Ginnie Mae. The unrealized losses for trust preferred securities at December 31, 2016 in the more than twelve months category in the table above entirely relate to 2 pooled trust preferred securities with a combined amortized cost of $10.2 million and a fair value of $8.0 million . One of the two pooled trust preferred securities had an unrealized loss of $1.3 million and an investment grade rating at December 31, 2016 . As of December 31, 2016 , the fair value of securities available for sale that were pledged to secure public deposits, repurchase agreements, lines of credit, and for other purposes required by law, was $537.4 million . The contractual maturities of investments securities available for sale at December 31, 2016 are set forth in the following table. Maturities may differ from contractual maturities in residential mortgage-backed securities because the mortgages underlying the securities may be prepaid without any penalties. Therefore, residential mortgage-backed securities are not included in the maturity categories in the following summary. December 31, 2016 Amortized Cost Fair Value (in thousands) Due in one year $ 18,770 $ 18,654 Due after one year through five years 73,904 74,158 Due after five years through ten years 114,174 112,063 Due after ten years 58,543 56,098 Residential mortgage-backed securities 1,029,827 1,015,542 Equity securities 20,505 20,858 Total investment securities available for sale $ 1,315,723 $ 1,297,373 Actual maturities of debt securities may differ from those presented above since certain obligations provide the issuer the right to call or prepay the obligation prior to scheduled maturity without penalty. The weighted-average remaining expected life for residential mortgage-backed securities available for sale at December 31, 2016 was 8.6 years. Other-Than-Temporary Impairment Analysis Valley records impairment charges on its investment securities when the decline in fair value is considered other-than-temporary. Numerous factors, including lack of liquidity for re-sales of certain investment securities; decline in the creditworthiness of the issuer; absence of reliable pricing information for investment securities; adverse changes in business climate; adverse actions by regulators; prolonged decline in value of equity investments; or unanticipated changes in the competitive environment could have a negative effect on Valley’s investment portfolio and may result in other-than-temporary impairment on certain investment securities in future periods. Among other securities, our investments in the private label mortgage-backed securities, trust preferred securities (including two pooled securities), corporate bonds, perpetual preferred securities and bank issued corporate bonds may pose a higher risk of future impairment charges to us as a result of the uncertain economic environment and its potential negative effect on the future performance of the security issuers and, if applicable, the underlying mortgage loan collateral of the security. Valley’s investment portfolios include private label mortgage-backed securities, trust preferred securities principally issued by bank holding companies (including two pooled trust preferred securities), corporate bonds, and perpetual preferred securities issued by banks. These investments may pose a higher risk of future impairment charges by Valley as a result of the unpredictable nature of the U.S. economy and its potential negative effect on the future performance of the security issuers and, if applicable, the underlying mortgage loan collateral of the security. For residential mortgage-backed securities, Valley estimates loss projections for each security by stressing the cash flows from the individual loans collateralizing the security using expected default rates, loss severities, and prepayment speeds, in conjunction with the underlying credit enhancement (if applicable) for each security. Based on collateral and origination vintage specific assumptions, a range of possible cash flows is identified to determine whether other-than-temporary impairment exists. For the single-issuer trust preferred securities and corporate and other debt securities, Valley reviews each portfolio to determine if all the securities are paying in accordance with their terms and have no deferrals of interest or defaults. A deferral event by a bank holding company for which Valley holds trust preferred securities may require the recognition of an other-than-temporary impairment charge if Valley determines that it is more likely than not that all contractual interest and principal cash flows may not be collected. Among other factors, the probability of the collection of all interest and principal determined by Valley in its impairment analysis declines if there is an increase in the estimated deferral period of the issuer. Additionally, a FDIC receivership for any single-issuer would result in an impairment and significant loss. Including the other factors outlined above, Valley analyzes the performance of the issuers on a quarterly basis, including a review of performance data from the issuers’ most recent bank regulatory report, if applicable, to assess their credit risk and the probability of impairment of the contractual cash flows of the applicable security. All of the issuers had capital ratios at December 31, 2016 that were at or above the minimum amounts to be considered a “well-capitalized” financial institution, if applicable, and/or have maintained performance levels adequate to support the contractual cash flows of the trust preferred securities. Management does not believe that any individual unrealized loss as of December 31, 2016 represents an other-than-temporary impairment, as management mainly attributes the declines in value to changes in interest rates and recent market volatility, not credit quality or other factors. Based on a comparison of the present value of expected cash flows to the amortized cost, management believes there are no credit losses on these securities. Valley has no intent to sell, nor is it more likely than not that Valley will be required to sell, the securities contained in the table above before the recovery of their amortized cost basis or, if necessary, maturity. At December 31, 2016, approximately 43 percent of the $686.4 million carrying value of obligations of states and political subdivisions were issued by the states of (or municipalities within) New Jersey, New York, Utah and Maryland. The obligations of states and political subdivisions mainly consist of general obligation bonds and, to much lesser extent, special revenue bonds which had an aggregated amortized cost and fair value of $20.3 million and $20.8 million , respectively, at December 31, 2016. The special revenue bonds were mainly issued by the Port Authorities of New York and New Jersey, as well as various school districts. As part of Valley’s pre-purchase analysis and on-going quarterly assessment of impairment of the obligations of states and political subdivisions, our Credit Risk Management Department conducts a financial analysis and risk rating assessment of each security issuer based on the issuer’s most recently issued financial statements and other publicly available information. Substantially all of these investments are investment grade. As of December 31, 2016, these securities are expected to perform in accordance with their contractual terms and, as a result, Valley expects to recover the entire amortized cost basis of these securities. For the two pooled trust preferred securities, Valley evaluates the projected cash flows from each of its tranches in the two securities to determine if they are adequate to support their future contractual principal and interest payments. Valley assesses the credit risk and probability of impairment of the contractual cash flows by projecting the default rates over the life of the security. Higher projected default rates will decrease the expected future cash flows from each security. If the projected decrease in cash flows affects the cash flows projected for the tranche held by Valley, the security would be considered to be other-than-temporarily impaired. The perpetual preferred securities, reported in equity securities, are hybrid investments that are assessed for impairment by Valley as if they were debt securities. Therefore, Valley assessed the creditworthiness of each security issuer, as well as any potential change in the anticipated cash flows of the securities as of December 31, 2016 . Based on this analysis, management believes the declines in fair value of these securities are attributable to a lack of liquidity in the marketplace and are not reflective of any deterioration in the creditworthiness of the issuers. Other-Than-Temporarily Impaired Securities There was no other-than-temporary impairment recognized in earnings as a result of Valley's impairment analysis of its securities during 2016 , 2015 and 2014 . At December 31, 2016 , four previously impaired private label mortgage-backed securities had a combined amortized cost of $10.2 million and fair value of $9.9 million , respectively, while one previously impaired pooled trust preferred security had an amortized cost of $2.8 million and fair value of $1.9 million , respectively. The previously impaired trust preferred securities discussed above were not accruing interest during the years ended December 31, 2016 , 2015 , and 2014 . See Note 1 for details regarding Valley's policy for the recognition of interest on impaired debt securities. The following table presents the changes in the credit loss component of cumulative other-than-temporary impairment losses on debt securities classified as either held to maturity or available for sale that Valley has recognized in earnings, for which a portion of the impairment loss (non-credit factors) was recognized in other comprehensive income or loss for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 (in thousands) Balance, beginning of period $ 5,837 $ 8,947 $ 9,990 Accretion of credit loss impairment due to an increase in expected cash flows (921 ) (728 ) (661 ) Sales — (2,382 ) (382 ) Balance, end of period $ 4,916 $ 5,837 $ 8,947 The credit loss component of the impairment loss represents the difference between the present value of expected future cash flows and the amortized cost basis of the security prior to considering credit losses. The beginning balance represents the credit loss component for debt securities for which other-than-temporary impairment occurred prior to each period presented. The credit loss component increases if other-than-temporary impairments (initial and subsequent) are recognized in earnings for credit impaired debt securities. The credit loss component is reduced if (i) Valley receives cash flows in excess of what it expected to receive over the remaining life of the credit impaired debt security, (ii) the security matures, (iii) the security is fully written down, or (iv) Valley sells, intends to sell or believes it will be required to sell previously credit impaired debt securities. Realized Gains and Losses Gross gains and losses realized on sales, maturities and other securities transactions included in earnings for the years ended December 31, 2016 , 2015 and 2014 were as follows: 2016 2015 2014 (in thousands) Sales transactions: Gross gains $ 271 $ 3,274 $ 746 Gross losses (58 ) (947 ) (2 ) $ 213 $ 2,327 $ 744 Maturities and other securities transactions: Gross gains $ 615 $ 293 $ 10 Gross losses (51 ) (133 ) (9 ) $ 564 $ 160 $ 1 Gains on securities transactions, net $ 777 $ 2,487 $ 745

Loans

Loans	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
Loans	LOANS (Note 5) The detail of the loan portfolio as of December 31, 2016 and 2015 was as follows: December 31, 2016 December 31, 2015 Non-PCI Loans PCI Loans* Total Non-PCI Loans PCI Loans* Total (in thousands) Loans: Commercial and industrial $ 2,357,018 $ 281,177 $ 2,638,195 $ 2,156,549 $ 383,942 $ 2,540,491 Commercial real estate: Commercial real estate 7,628,328 1,091,339 8,719,667 6,069,532 1,355,104 7,424,636 Construction 710,266 114,680 824,946 607,694 147,253 754,947 Total commercial real estate loans 8,338,594 1,206,019 9,544,613 6,677,226 1,502,357 8,179,583 Residential mortgage 2,684,195 183,723 2,867,918 2,912,079 218,462 3,130,541 Consumer: Home equity 376,213 92,796 469,009 391,809 119,394 511,203 Automobile 1,139,082 145 1,139,227 1,238,826 487 1,239,313 Other consumer 569,499 7,642 577,141 426,147 15,829 441,976 Total consumer loans 2,084,794 100,583 2,185,377 2,056,782 135,710 2,192,492 Total loans $ 15,464,601 $ 1,771,502 $ 17,236,103 $ 13,802,636 $ 2,240,471 $ 16,043,107 * PCI loans include covered loans (mostly consisting of residential mortgage and commercial real estate loans) totaling $70.4 million and $122.3 million at December 31, 2016 and 2015 , respectively. Total non-PCI loans are net of unearned premiums and deferred loan costs totaling $15.3 million and $3.5 million at December 31, 2016 and 2015 , respectively. The outstanding balances (representing contractual balances owed to Valley) for PCI loans totaled $1.9 billion and $2.4 billion at December 31, 2016 and 2015 , respectively. Valley transferred $174.5 million of residential mortgage loans from the loan portfolio to loans held for sale during the third quarter of 2016 . These loans were sold during the fourth quarter of 2016 resulting in net gains totaling $7.3 million . Exclusive of such transfers, there were no other sales or transfers of loans from the held for investment portfolio during 2016 and 2015 . Purchased Credit-Impaired Loans (Including Covered Loans) PCI loans are accounted for in accordance with ASC Subtopic 310-30 and are initially recorded at fair value (as determined by the present value of expected future cash flows) with no valuation allowance (i.e., the allowance for loan losses), and aggregated and accounted for as pools of loans based on common risk characteristics. The difference between the undiscounted cash flows expected at acquisition and the initial carrying amount (fair value) of the PCI loans, or the “accretable yield,” is recognized as interest income utilizing the level-yield method over the life of each pool. Contractually required payments for interest and principal that exceed the undiscounted cash flows expected at acquisition, or the “non-accretable difference,” are not recognized as a yield adjustment, as a loss accrual or a valuation allowance. Reclassifications of the non-accretable difference to the accretable yield may occur subsequent to the loan acquisition dates due to increases in expected cash flows of the loan pools. Valley's PCI loan portfolio included covered loans (i.e., loans in which the Bank will share losses with the FDIC under loss-sharing agreements) totaling $70.4 million and $122.3 million at December 31, 2016 and 2015 , respectively. See Note 1 for additional information. The following table presents changes in the accretable yield for PCI loans for the years ended December 31, 2016 and 2015 : 2016 2015 (in thousands) Balance, beginning of period $ 415,179 $ 336,208 Acquisition — 126,930 Accretion (107,482 ) (105,078 ) Net (decrease) increase in expected cash flows (9,989 ) 57,119 Other, net (3,194 ) — Balance, end of period $ 294,514 $ 415,179 The net (decrease) increase in expected cash flows for certain pools of loans (included in the table above) is recognized prospectively as an adjustment to the yield over the estimated remaining life of the individual pools. The net decrease in the expected cash flows totaling approximately $10.0 million for 2016 was largely due to better than expected collections, including loan prepayments, within certain loan pools which reduced the remaining reforecasted accretable yield during the fourth quarter of 2016. The net increase of $57.1 million during 2015 was mainly related to a decrease in the expected losses for certain loan pools during the fourth quarter of 2015. FDIC Loss-Share Receivable The receivable arising from the loss-sharing agreements with the FDIC is measured separately from the covered loan portfolio because the agreements are not contractually part of the covered loans and are not transferable should the Bank choose to dispose of the covered loans. The FDIC loss share receivable (which is included in other assets on Valley's consolidated statements of financial condition) totaled $7.2 million and $8.3 million at December 31, 2016 and 2015 , respectively. The aggregate effects of changes in the FDIC loss-share receivable was a reduction in non-interest income of $1.3 million , $3.3 million and $20.8 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. Related Party Loans In the ordinary course of business, Valley has granted loans to certain directors, executive officers and their affiliates (collectively referred to as “related parties”). These loans were made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other unaffiliated persons and do not involve more than normal risk of collectability. The following table summarizes the changes in the total amounts of loans and advances to the related parties during the year ended December 31, 2016 : 2016 (in thousands) Outstanding at beginning of year $ 191,566 New loans and advances 26,736 Repayments (52,982 ) Outstanding at end of year $ 165,320 All loans to related parties are performing as of December 31, 2016 . Loan Portfolio Risk Elements and Credit Risk Management Credit risk management. For all of its loan types discussed below, Valley adheres to a credit policy designed to minimize credit risk while generating the maximum income given the level of risk. Management reviews and approves these policies and procedures on a regular basis with subsequent approval by the Board of Directors annually. Credit authority relating to a significant dollar percentage of the overall portfolio is centralized and controlled by the Credit Risk Management Division and by the Credit Committee. A reporting system supplements the management review process by providing management with frequent reports concerning loan production, loan quality, concentrations of credit, loan delinquencies, non-performing, and potential problem loans. Loan portfolio diversification is an important factor utilized by Valley to manage its risk across business sectors and through cyclical economic circumstances. Commercial and industrial loans. A significant proportion of Valley’s commercial and industrial loan portfolio is granted to long standing customers of proven ability, strong repayment performance, and high character. Underwriting standards are designed to assess the borrower’s ability to generate recurring cash flow sufficient to meet the debt service requirements of loans granted. While such recurring cash flow serves as the primary source of repayment, a significant number of the loans are collateralized by borrower assets intended to serve as a secondary source of repayment should the need arise. Anticipated cash flows of borrowers, however, may not be as expected and the collateral securing these loans may fluctuate in value, or in the case of loans secured by accounts receivable, the ability of the borrower to collect all amounts due from its customers. Short-term loans may be made on an unsecured basis based on a borrower’s financial strength and past performance. Whenever possible, Valley will obtain the personal guarantee of the borrower’s principals to mitigate the risk. Unsecured loans, when made, are generally granted to the Bank’s most credit worthy borrowers. Unsecured commercial and industrial loans totaled $455.5 million and $386.6 million at December 31, 2016 and 2015 , respectively. The commercial portfolio also includes taxi medallion loans, most of which consist of loans to fleet owners of New York City medallions. Valley's historical taxi medallion lending criteria has been conservative in regards to capping the loan amounts in relation to market valuations, as well as obtaining personal guarantees whenever possible. While the vast majority of these loans are performing at December 31, 2016 , we continue to closely monitor this portfolio's performance and the potential impact of the changes in market valuations for taxi medallions due to competing car service providers and other factors. Commercial real estate loans . Commercial real estate loans are subject to underwriting standards and processes similar to commercial and industrial loans but generally they involve larger principal balances and longer repayment periods as compared to commercial and industrial loans. Commercial real estate loans are viewed primarily as cash flow loans and secondarily as loans secured by real property. Repayment of most loans is dependent upon the cash flow generated from the property securing the loan or the business that occupies the property. Commercial real estate loans may be more adversely affected by conditions in the real estate markets or in the general economy and accordingly, conservative loan to value ratios are required at origination, as well as stress tested to evaluate the impact of market changes relating to key underwriting elements. The properties securing the commercial real estate portfolio represent diverse types, with most properties located within Valley’s primary markets. Construction loans . With respect to loans to developers and builders, Valley originates and manages construction loans structured on either a revolving or non-revolving basis, depending on the nature of the underlying development project. These loans are generally secured by the real estate to be developed and may also be secured by additional real estate to mitigate the risk. Non-revolving construction loans often involve the disbursement of substantially all committed funds with repayment substantially dependent on the successful completion and sale, or lease, of the project. Sources of repayment for these types of loans may be from pre-committed permanent loans from other lenders, sales of developed property, or an interim loan commitment from Valley until permanent financing is obtained elsewhere. Revolving construction loans (generally relating to single-family residential construction) are controlled with loan advances dependent upon the presale of housing units financed. These loans are closely monitored by on-site inspections and are considered to have higher risks than other real estate loans due to their ultimate repayment being sensitive to interest rate changes, governmental regulation of real property, general economic conditions and the availability of long-term financing. Residential mortgages. Valley originates residential, first mortgage loans based on underwriting standards that generally comply with Fannie Mae and/or Freddie Mac requirements. Appraisals and valuations of real estate collateral are contracted directly with independent appraisers or from valuation services and not through appraisal management companies. The Bank’s appraisal management policy and procedure is in accordance with regulatory requirements and guidance issued by the Bank’s primary regulator. Credit scoring, using FICO ® and other proprietary credit scoring models is employed in the ultimate, judgmental credit decision by Valley’s underwriting staff. Valley does not use third party contract underwriting services. Residential mortgage loans include fixed and variable interest rate loans secured by one to four family homes generally located in northern and central New Jersey, the New York City metropolitan area, Florida and eastern Pennsylvania. Valley’s ability to be repaid on such loans is closely linked to the economic and real estate market conditions in this region. In deciding whether to originate each residential mortgage, Valley considers the qualifications of the borrower as well as the value of the underlying property. Home equity loans. Home equity lending consists of both fixed and variable interest rate products. Valley mainly provides home equity loans to its residential mortgage customers within the footprint of its primary lending territory. Valley generally will not exceed a combined (i.e., first and second mortgage) loan-to-value ratio of 75 percent when originating a home equity loan. Automobile loans. Valley uses both judgmental and scoring systems in the credit decision process for automobile loans. Automobile originations (including light truck and sport utility vehicles) are largely produced via indirect channels, originated through approved automobile dealers. Automotive collateral is generally a depreciating asset and there are times in the life of an automobile loan where the amount owed on a vehicle may exceed its collateral value. Additionally, automobile charge-offs will vary based on the strength or weakness of the used vehicle market, original advance rate, when in the life cycle of a loan a default occurs and the condition of the collateral being liquidated. Where permitted by law, and subject to the limitations of the bankruptcy code, deficiency judgments are sought and acted upon to ultimately collect all money owed, even when a default resulted in a loss at collateral liquidation. Valley uses a third party to actively track collision and comprehensive risk insurance required of the borrower on the automobile and this third party provides coverage to Valley in the event of an uninsured collateral loss. Other consumer loans. Valley’s other consumer loan portfolio includes direct consumer term loans, both secured and unsecured. The other consumer loan portfolio includes exposures in personal lines of credit (including those secured by cash surrender value of life insurance), credit card loans and personal loans. Unsecured consumer loans totaled approximately $20.6 million and $18.8 million , including $7.0 million and $7.1 million of credit card loans, at December 31, 2016 and 2015 , respectively. Valley believes the aggregate risk exposure of these loans and lines of credit was not significant at December 31, 2016 . Credit Quality The following tables present past due, non-accrual and current loans (excluding PCI loans, which are accounted for on a pool basis) by loan portfolio class at December 31, 2016 and 2015 : Past Due and Non-Accrual Loans 30-59 Days Past Due Loans 60-89 Days Past Due Loans Accruing Loans 90 Days Or More Past Due Non-Accrual Loans Total Past Due Loans Current Non-PCI Loans Total Non-PCI Loans (in thousands) December 31, 2016 Commercial and industrial $ 6,705 $ 5,010 $ 142 $ 8,465 $ 20,322 $ 2,336,696 $ 2,357,018 Commercial real estate: Commercial real estate 5,894 8,642 474 15,079 30,089 7,598,239 7,628,328 Construction 6,077 — 1,106 715 7,898 702,368 710,266 Total commercial real estate loans 11,971 8,642 1,580 15,794 37,987 8,300,607 8,338,594 Residential mortgage 12,005 3,564 1,541 12,075 29,185 2,655,010 2,684,195 Consumer loans: Home equity 929 415 — 1,028 2,372 373,841 376,213 Automobile 3,192 723 188 146 4,249 1,134,833 1,139,082 Other consumer 76 9 21 — 106 569,393 569,499 Total consumer loans 4,197 1,147 209 1,174 6,727 2,078,067 2,084,794 Total $ 34,878 $ 18,363 $ 3,472 $ 37,508 $ 94,221 $ 15,370,380 $ 15,464,601 Past Due and Non-Accrual Loans 30-59 Days Past Due Loans 60-89 Days Past Due Loans Accruing Loans 90 Days Or More Past Due Non-Accrual Loans Total Past Due Loans Current Non-PCI Loans Total Non-PCI Loans (in thousands) December 31, 2015 Commercial and industrial $ 3,920 $ 524 $ 213 $ 10,913 $ 15,570 $ 2,140,979 $ 2,156,549 Commercial real estate: Commercial real estate 2,684 — 131 24,888 27,703 6,041,829 6,069,532 Construction 1,876 2,799 — 6,163 10,838 596,856 607,694 Total commercial real estate loans 4,560 2,799 131 31,051 38,541 6,638,685 6,677,226 Residential mortgage 6,681 1,626 1,504 17,930 27,741 2,884,338 2,912,079 Consumer loans: Home equity 1,308 111 — 2,088 3,507 388,302 391,809 Automobile 1,969 491 164 118 2,742 1,236,084 1,238,826 Other consumer 71 24 44 — 139 426,008 426,147 Total consumer loans 3,348 626 208 2,206 6,388 2,050,394 2,056,782 Total $ 18,509 $ 5,575 $ 2,056 $ 62,100 $ 88,240 $ 13,714,396 $ 13,802,636 If interest on non-accrual loans had been accrued in accordance with the original contractual terms, such interest income would have amounted to approximately $2.1 million , $3.5 million , and $2.2 million for the years ended December 31, 2016 , 2015 and 2014 , respectively; none of these amounts were included in interest income during these periods. Impaired loans . Impaired loans, consisting of non-accrual commercial and industrial loans and commercial real estate loans over $250 thousand and all loans which were modified in troubled debt restructurings, are individually evaluated for impairment. PCI loans are not classified as impaired loans because they are accounted for on a pool basis. The following table presents the information about impaired loans by loan portfolio class at December 31, 2016 and 2015 : Recorded Investment With No Related Allowance Recorded Investment With Related Allowance Total Recorded Investment Unpaid Contractual Principal Balance Related Allowance (in thousands) December 31, 2016 Commercial and industrial $ 3,609 $ 27,031 $ 30,640 $ 35,957 $ 5,864 Commercial real estate: Commercial real estate 21,318 36,974 58,292 60,267 3,612 Construction 1,618 2,379 3,997 3,997 260 Total commercial real estate loans 22,936 39,353 62,289 64,264 3,872 Residential mortgage 8,398 9,958 18,356 19,712 725 Consumer loans: Home equity 1,182 2,352 3,534 3,626 70 Total consumer loans 1,182 2,352 3,534 3,626 70 Total $ 36,125 $ 78,694 $ 114,819 $ 123,559 $ 10,531 December 31, 2015 Commercial and industrial $ 7,863 $ 17,851 $ 25,714 $ 33,071 $ 3,439 Commercial real estate: Commercial real estate 30,113 37,440 67,553 71,263 3,354 Construction 8,847 5,530 14,377 14,387 317 Total commercial real estate loans 38,960 42,970 81,930 85,650 3,671 Residential mortgage 7,842 14,770 22,612 24,528 1,377 Consumer loans: Home equity 263 1,869 2,132 2,224 295 Total consumer loans 263 1,869 2,132 2,224 295 Total $ 54,928 $ 77,460 $ 132,388 $ 145,473 $ 8,782 Interest income recognized on a cash basis for impaired loans classified as non-accrual totaled $207 thousand , $1.3 million and $735 thousand for the years ended December 31, 2016 , 2015 and 2014 , respectively. The following table presents, by loan portfolio class, the average recorded investment and interest income recognized on impaired loans for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) Commercial and industrial $ 36,552 $ 1,045 $ 28,451 $ 893 $ 30,485 $ 1,114 Commercial real estate: Commercial real estate 59,633 2,122 77,154 2,380 74,256 2,488 Construction 5,790 182 16,399 534 21,515 547 Total commercial real estate loans 65,423 2,304 93,553 2,914 95,771 3,035 Residential mortgage 21,340 874 24,435 728 26,863 812 Consumer loans: Home equity 2,626 68 3,852 111 2,214 49 Total consumer loans 2,626 68 3,852 111 2,214 49 Total $ 125,941 $ 4,291 $ 150,291 $ 4,646 $ 155,333 $ 5,010 Troubled debt restructured loans . From time to time, Valley may extend, restructure, or otherwise modify the terms of existing loans, on a case-by-case basis, to remain competitive and retain certain customers, as well as assist other customers who may be experiencing financial difficulties. If the borrower is experiencing financial difficulties and a concession has been made at the time of such modification, the loan is classified as a troubled debt restructured loan (TDR). Valley’s PCI loans are excluded from the TDR disclosures below because they are evaluated for impairment on a pool by pool basis. When an individual PCI loan within a pool is modified as a TDR, it is not removed from its pool. All TDRs are classified as impaired loans and are included in the impaired loan disclosures above. The majority of the concessions made for TDRs involve lowering the monthly payments on loans through either a reduction in interest rate below a market rate, an extension of the term of the loan without a corresponding adjustment to the risk premium reflected in the interest rate, or a combination of these two methods. The concessions rarely result in the forgiveness of principal or accrued interest. In addition, Valley frequently obtains additional collateral or guarantor support when modifying such loans. If the borrower has demonstrated performance under the previous terms of the loan and Valley’s underwriting process shows the borrower has the capacity to continue to perform under the restructured terms, the loan will continue to accrue interest. Non-accruing restructured loans may be returned to accrual status when there has been a sustained period of repayment performance (generally six consecutive months of payments) and both principal and interest are deemed collectible. Performing TDRs (not reported as non-accrual loans) totaled $85.2 million and $77.6 million as of December 31, 2016 and 2015 , respectively. Non-performing TDRs totaled $10.6 million and $21.0 million as of December 31, 2016 and 2015 , respectively. The following table presents non-PCI loans by loan class modified as TDRs during the years ended December 31, 2016 and 2015 . The pre-modification and post-modification outstanding recorded investments disclosed in the table below represent the loan carrying amounts immediately prior to the modification and the carrying amounts at December 31, 2016 and 2015 , respectively. Troubled Debt Restructurings Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment ($ in thousands) December 31, 2016 Commercial and industrial 19 $ 18,186 $ 16,277 Commercial real estate: Commercial real estate 4 8,325 7,092 Construction 3 2,922 3,626 Total commercial real estate 7 11,247 10,718 Residential mortgage 7 1,867 1,826 Consumer 1 54 51 Total 34 $ 31,354 $ 28,872 December 31, 2015 Commercial and industrial 17 $ 8,409 $ 6,793 Commercial real estate: Commercial real estate 5 6,768 6,709 Construction 2 646 1,391 Total commercial real estate 7 7,414 8,100 Residential mortgage 7 2,659 2,603 Consumer 2 1,111 1,095 Total 33 $ 19,593 $ 18,591 The total TDRs presented in the table above had allocated specific reserves for loan losses that totaled $4.8 million and $1.4 million at December 31, 2016 and 2015 , respectively. These specific reserves are included in the allowance for loan losses for loans individually evaluated for impairment disclosed in Note 6. Partial loan charge-offs related to loans modified as TDRs presented in the table above totaled $320 thousand during 2015 . There were no loan charge-offs related to loans modified as TDRs during 2016 . The non-PCI loans modified as TDRs within the previous 12 months and for which there was a payment default ( 90 or more days past due) for the years ended December 31, 2016 and 2015 were as follows: Years Ended December 31, 2016 2015 Troubled Debt Restructurings Subsequently Defaulted Number of Contracts Recorded Investment Number of Contracts Recorded Investment ($ in thousands) Commercial and industrial — $ — 1 $ 129 Commercial real estate 2 357 1 87 Residential mortgage 4 853 1 214 Consumer — — 1 75 Total 6 $ 1,210 4 $ 505 Credit quality indicators . Valley utilizes an internal loan classification system as a means of reporting problem loans within commercial and industrial, commercial real estate, and construction loan portfolio classes. Under Valley’s internal risk rating system, loan relationships could be classified as “Pass,” “Special Mention,” “Substandard,” “Doubtful,” and “Loss.” Substandard loans include loans that exhibit well-defined weakness and are characterized by the distinct possibility that Valley will sustain some loss if the deficiencies are not corrected. Loans classified as Doubtful have all the weaknesses inherent in those classified as Substandard with the added characteristic that the weaknesses present make collection or liquidation in full, based on currently existing facts, conditions and values, highly questionable and improbable. Loans classified as Loss are those considered uncollectible with insignificant value and are charged-off immediately to the allowance for loan losses, and, therefore, not presented in the table below. Loans that do not currently pose a sufficient risk to warrant classification in one of the aforementioned categories, but pose weaknesses that deserve management’s close attention are deemed Special Mention. Loans rated as Pass do not currently pose any identified risk and can range from the highest to average quality, depending on the degree of potential risk. Risk ratings are updated any time the situation warrants. The following table presents the risk category of loans by class of loans (excluding PCI loans) based on the most recent analysis performed at December 31, 2016 and 2015 . Credit exposure— by internally assigned risk rating Special Total Non-PCI Pass Mention Substandard Doubtful Loans (in thousands) December 31, 2016 Commercial and industrial $ 2,246,457 $ 44,316 $ 64,649 $ 1,596 $ 2,357,018 Commercial real estate 7,486,469 57,591 84,268 — 7,628,328 Construction 708,070 200 1,996 — 710,266 Total $ 10,440,996 $ 102,107 $ 150,913 $ 1,596 $ 10,695,612 December 31, 2015 Commercial and industrial $ 2,049,752 $ 68,243 $ 36,254 $ 2,300 $ 2,156,549 Commercial real estate 5,893,354 79,279 96,899 — 6,069,532 Construction 596,530 1,102 10,062 — 607,694 Total $ 8,539,636 $ 148,624 $ 143,215 $ 2,300 $ 8,833,775 For residential mortgages, automobile, home equity and other consumer loan portfolio classes (excluding PCI loans), Valley also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the recorded investment in those loan classes based on payment activity as of December 31, 2016 and 2015 : Credit exposure— by payment activity Performing Loans Non-Performing Loans Total Non-PCI Loans (in thousands) December 31, 2016 Residential mortgage $ 2,672,120 $ 12,075 $ 2,684,195 Home equity 375,185 1,028 376,213 Automobile 1,138,936 146 1,139,082 Other consumer 569,499 — 569,499 Total $ 4,755,740 $ 13,249 $ 4,768,989 December 31, 2015 Residential mortgage $ 2,894,149 $ 17,930 $ 2,912,079 Home equity 389,721 2,088 391,809 Automobile 1,238,708 118 1,238,826 Other consumer 426,147 — 426,147 Total $ 4,948,725 $ 20,136 $ 4,968,861 Valley evaluates the credit quality of its PCI loan pools based on the expectation of the underlying cash flows of each pool, derived from the aging status and by payment activity of individual loans within the pool. The following table presents the recorded investment in PCI loans by class based on individual loan payment activity as of December 31, 2016 and 2015 : Credit exposure— Performing Non-Performing Total by payment activity Loans Loans PCI Loans (in thousands) December 31, 2016 Commercial and industrial $ 272,483 $ 8,694 $ 281,177 Commercial real estate 1,080,376 10,963 1,091,339 Construction 113,370 1,310 114,680 Residential mortgage 179,793 3,930 183,723 Consumer 98,469 2,114 100,583 Total $ 1,744,491 $ 27,011 $ 1,771,502 December 31, 2015 Commercial and industrial $ 373,665 $ 10,277 $ 383,942 Commercial real estate 1,342,030 13,074 1,355,104 Construction 141,547 5,706 147,253 Residential mortgage 214,713 3,749 218,462 Consumer 129,891 5,819 135,710 Total $ 2,201,846 $ 38,625 $ 2,240,471

Allowance for Credit Losses

Allowance for Credit Losses	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
Allowance for Credit Losses	ALLOWANCE FOR CREDIT LOSSES (Note 6) The allowance for credit losses consists of the allowance for loan losses and the allowance for unfunded letters of credit. Management maintains the allowance for credit losses at a level estimated to absorb probable loan losses of the loan portfolio and unfunded letter of credit commitments at the balance sheet date. The allowance for loan losses is based on ongoing evaluations of the probable estimated losses inherent in the loan portfolio, including unexpected additional credit impairment of PCI loan pools subsequent to acquisition. There was no allowance allocation for PCI loan losses at December 31, 2016 and 2015 . The following table summarizes the allowance for credit losses at December 31, 2016 and 2015 : December 31, 2016 2015 (in thousands) Components of allowance for credit losses: Allowance for loan losses $ 114,419 $ 106,178 Allowance for unfunded letters of credit 2,185 2,189 Total allowance for credit losses $ 116,604 $ 108,367 The following table summarizes the provision for credit losses for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 (in thousands) Components of provision for credit losses: Provision for loan losses $ 11,873 $ 7,846 $ 3,445 Provision for unfunded letters of credit (4 ) 255 (1,561 ) Total provision for credit losses $ 11,869 $ 8,101 $ 1,884 The following table details the activity in the allowance for loan losses by portfolio segment for the years ended December 31, 2016 and 2015 : Commercial and Industrial Commercial Real Estate Residential Mortgage Consumer Unallocated Total (in thousands) December 31, 2016 Allowance for loan losses: Beginning balance $ 48,767 $ 48,006 $ 4,625 $ 4,780 $ — $ 106,178 Loans charged-off (5,990 ) (650 ) (866 ) (3,463 ) — (10,969 ) Charged-off loans recovered 2,852 2,057 774 1,654 — 7,337 Net charge-offs (3,138 ) 1,407 (92 ) (1,809 ) — (3,632 ) Provision for loan losses 5,191 6,438 (831 ) 1,075 11,873 Ending balance $ 50,820 $ 55,851 $ 3,702 $ 4,046 $ — $ 114,419 December 31, 2015 Allowance for loan losses: Beginning balance $ 43,676 $ 42,840 $ 5,093 $ 5,179 $ 5,565 $ 102,353 Loans charged-off (7,928 ) (2,790 ) (813 ) (3,441 ) — (14,972 ) Charged-off loans recovered 7,233 1,759 421 1,538 — 10,951 Net charge-offs (695 ) (1,031 ) (392 ) (1,903 ) — (4,021 ) Provision for loan losses 5,786 6,197 (76 ) 1,504 (5,565 ) 7,846 Ending balance $ 48,767 $ 48,006 $ 4,625 $ 4,780 $ — $ 106,178 During 2015 , Valley refined and enhanced its assessment of the adequacy of the allowance for loan losses, including both changes to look-back periods for certain portfolios, as well as enhancements to its qualitative factor framework. The enhancements were meant to increase the level of precision in the allowance for credit losses. As a result, Valley no longer has an “unallocated” segment in its allowance for credit losses, as the risks and uncertainties meant to be captured by the unallocated allowance have been included in the qualitative framework for the respective portfolios (reported in the table above) at December 31, 2016 and 2015 . As such, the unallocated allowance has in essence been reallocated to the certain portfolios based on the risks and uncertainties it was meant to capture. See Note 1 to the consolidated financial statements for additional information regarding our allowance for loan losses. The following table represents the allocation of the allowance for loan losses and the related loans by loan portfolio segment disaggregated based on the impairment methodology for the years ended December 31, 2016 and 2015 . Loans individually evaluated for impairment represent Valley’s impaired loans. Loans acquired with discounts related to credit quality represent Valley’s PCI loans. Commercial and Industrial Commercial Real Estate Residential Mortgage Consumer Total (in thousands) December 31, 2016 Allowance for loan losses: Individually evaluated for impairment $ 5,864 $ 3,872 $ 725 $ 70 $ 10,531 Collectively evaluated for impairment 44,956 51,979 2,977 3,976 103,888 Total $ 50,820 $ 55,851 $ 3,702 $ 4,046 $ 114,419 Loans: Individually evaluated for impairment $ 30,640 $ 62,289 $ 18,356 $ 3,534 $ 114,819 Collectively evaluated for impairment 2,326,378 8,276,305 2,665,839 2,081,260 15,349,782 Loans acquired with discounts related to credit quality 281,177 1,206,019 183,723 100,583 1,771,502 Total $ 2,638,195 $ 9,544,613 $ 2,867,918 $ 2,185,377 $ 17,236,103 December 31, 2015 Allowance for loan losses: Individually evaluated for impairment $ 3,439 $ 3,671 $ 1,377 $ 295 $ 8,782 Collectively evaluated for impairment 45,328 44,335 3,248 4,485 97,396 Total $ 48,767 $ 48,006 $ 4,625 $ 4,780 $ 106,178 Loans: Individually evaluated for impairment $ 25,714 $ 81,930 $ 22,612 $ 2,132 $ 132,388 Collectively evaluated for impairment 2,130,835 6,595,296 2,889,467 2,054,650 13,670,248 Loans acquired with discounts related to credit quality 383,942 1,502,357 218,462 135,710 2,240,471 Total $ 2,540,491 $ 8,179,583 $ 3,130,541 $ 2,192,492 $ 16,043,107

Premises and Equipment, Net

Premises and Equipment, Net	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Premises and Equipment, Net	PREMISES AND EQUIPMENT, NET (Note 7) At December 31, 2016 and 2015 , premises and equipment, net consisted of: 2016 2015 (in thousands) Land $ 78,116 $ 80,519 Buildings 210,012 211,923 Leasehold improvements 73,405 70,314 Furniture and equipment 240,424 224,340 Total premises and equipment 601,957 587,096 Accumulated depreciation and amortization (310,777 ) (288,153 ) Total premises and equipment, net $ 291,180 $ 298,943 Depreciation and amortization of premises and equipment included in non-interest expense for the years ended December 31, 2016 , 2015 and 2014 was approximately $24.4 million , $21.1 million , and $19.5 million , respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS (Note 8) The changes in the carrying amount of goodwill as allocated to our business segments, or reporting units thereof, for goodwill impairment analysis were: Business Segment / Reporting Unit* Wealth Management Consumer Lending Commercial Lending Investment Management Total (in thousands) Balance at December 31, 2014 $ 20,517 $ 168,922 $ 252,900 $ 133,553 $ 575,892 Goodwill from business combinations — 30,197 61,360 18,890 110,447 Balance at December 31, 2015 $ 20,517 $ 199,119 $ 314,260 $ 152,443 $ 686,339 Goodwill from business combinations 701 984 1,998 615 4,298 Balance at December 31, 2016 $ 21,218 $ 200,103 $ 316,258 $ 153,058 $ 690,637 * 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. Certain estimates for acquired assets and assumed liabilities are subject to change for up to one year after the acquisition date. During 2016, goodwill from business combinations primarily related to the effect of the combined adjustments to the estimated fair values of the acquired assets and liabilities as of the acquisition date of CNL, as well as $701 thousand of goodwill from the acquisition of certain assets from an independent insurance agency during the first quarter of 2016. The adjustments mostly related to the fair value of certain PCI loans, core deposit intangibles and time deposits which, resulted in an increase in goodwill totaling $3.6 million . There was no impairment of goodwill during the years ended December 31, 2016 , 2015 and 2014 . The following tables summarize other intangible assets as of December 31, 2016 and 2015 : Gross Intangible Assets Accumulated Amortization Valuation Allowance Net Intangible Assets (in thousands) December 31, 2016 Loan servicing rights $ 73,002 $ (52,634 ) $ (900 ) $ 19,468 Core deposits 61,504 (37,562 ) — 23,942 Other 4,087 (2,013 ) — 2,074 Total other intangible assets $ 138,593 $ (92,209 ) $ (900 ) $ 45,484 December 31, 2015 Loan servicing rights $ 75,932 $ (59,251 ) $ (289 ) $ 16,392 Core deposits 62,714 (31,934 ) — 30,780 Other 4,374 (2,664 ) — 1,710 Total other intangible assets $ 143,020 $ (93,849 ) $ (289 ) $ 48,882 Core deposits are amortized using an accelerated method and have a weighted average amortization period of 11 years . The line item labeled “Other” included in the table above primarily consists of customer lists and covenants not to compete, which are amortized over their expected lives generally using a straight-line method and have a weighted average amortization period of 20 years . In 2016, Valley recorded $660 thousand in other intangibles, consisting of customer lists acquired from an independent insurance agency. In 2015, Valley recorded $19.3 million in core deposit intangibles resulting from the CNL acquisition. Valley evaluates core deposits and other intangibles for impairment when an indication of impairment exists. No impairment was recognized during the years ended December 31, 2016 , 2015 and 2014 . The following table summarizes the change in loan servicing rights during the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 (in thousands) Loan servicing rights Balance at beginning of year $ 16,681 $ 20,446 $ 26,068 Origination of loan servicing rights 8,479 1,696 1,065 Amortization expense (4,792 ) (5,461 ) (6,687 ) Balance at end of year $ 20,368 $ 16,681 $ 20,446 Valuation allowance Balance at beginning of year $ (289 ) $ (592 ) $ (504 ) Impairment adjustment (611 ) 303 (88 ) Balance at end of year $ (900 ) $ (289 ) $ (592 ) Balance at end of year, net of valuation allowance $ 19,468 $ 16,392 $ 19,854 Loan servicing rights are accounted for using the amortization method (see Note 1 for more details). The Bank is a servicer of residential mortgage and SBA loan portfolios, and it is compensated for loan administrative services performed for mortgage servicing rights of loans originated and sold by the Bank, and to a lesser extent, purchased mortgage servicing rights. The aggregate principal balances of residential mortgage loans serviced by the Bank for others approximated $2.5 billion , $2.1 billion and $2.3 billion at December 31, 2016 , 2015 and 2014 , respectively. The SBA loans serviced by the Bank for third-party investors totaled $23.8 million , $32.3 million and $26.9 million at December 31, 2016 , 2015 and 2014 , respectively. The outstanding balance of all loans serviced for others is not included in the consolidated statements of financial condition. Valley recognized amortization expense on other intangible assets, including recoveries and net impairment charges on loan servicing rights (reflected in the table above), of $11.3 million , $9.2 million and $9.9 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. The following table presents the estimated amortization expense of other intangible assets over the next five-year period: Year Loan Servicing Rights Core Deposits Other (in thousands) 2017 $ 4,888 $ 4,842 $ 280 2018 3,989 4,215 249 2019 3,101 3,671 235 2020 2,417 3,127 220 2021 1,771 2,582 206

Deposits

Deposits	12 Months Ended
	Dec. 31, 2016
Banking and Thrift [Abstract]
Deposits	DEPOSITS (Note 9) Included in time deposits are certificates of deposit over $100 thousand totaling $1.7 billion at both December 31, 2016 and 2015 . Interest expense on time deposits of $100 thousand or more totaled approximately $1.5 million , $4.0 million , and $5.9 million in 2016 , 2015 and 2014 , respectively. The scheduled maturities of time deposits as of December 31, 2016 are as follows: Year Amount (in thousands) 2017 $ 2,122,906 2018 473,924 2019 98,763 2020 147,548 2021 162,687 Thereafter 133,043 Total time deposits $ 3,138,871 Deposits from certain directors, executive officers and their affiliates totaled $85.6 million and $57.3 million at December 31, 2016 and 2015 , respectively.

Borrowed Funds

Borrowed Funds	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Borrowed Funds	BORROWED FUNDS (Note 10) Short-Term Borrowings Short-term borrowings at December 31, 2016 and 2015 consisted of the following: 2016 2015 (in thousands) Securities sold under agreements to repurchase $ 298,960 $ 500,991 Federal funds purchased — 50,000 FHLB advances 782,000 526,000 Total short-term borrowings $ 1,080,960 $ 1,076,991 The weighted average interest rate for short-term borrowings was 0.65 percent and 0.69 percent at December 31, 2016 and 2015 , respectively. Long-Term Borrowings Long-term borrowings at December 31, 2016 and 2015 consisted of the following: 2016 2015 (in thousands) FHLB advances, net (1) $ 1,031,666 $ 1,272,591 Securities sold under agreements to repurchase 165,000 307,500 Subordinated debt, net (2) 236,731 230,573 Other 509 64 Total long-term borrowings $ 1,433,906 $ 1,810,728 (1) FHLB advances are presented net of unamortized prepayment penalties and other purchase accounting adjustments totaling $18.3 million and $3.6 million at December 31, 2016 and 2015, respectively. (2) Subordinated debt is presented net of unamortized debt issuance costs totaling $1.9 million and $2.2 million at December 31, 2016 and 2015, respectively. In August 2016, Valley prepaid $355 million and $50 million of the long-term FHLB advances and securities sold under agreements to repurchase, respectively. These prepaid borrowings, which had contractual maturity dates in 2018 and a total average interest rate of 3.69 percent , were funded with a new fixed-rate five -year FHLB advance totaling $405.0 million . The transaction was accounted for as a debt modification under U.S. GAAP. As a result, the new advance has an adjusted annual interest rate of 2.51 percent , after amortization of prepayment penalties totaling $20.0 million paid to the FHLB. In May 2016, Valley prepaid $87 million of FHLB advances assumed in the acquisition of CNL. The prepayment was entirely funded by cash balances that were held as a collateral at the FHLB of Atlanta and resulted in the recognition of a $315 thousand loss on extinguishment of debt for the year ended December 31, 2016. In December 2015, Valley prepaid $625 million and $220 million of the long-term FHLB advances and securities sold under agreements to repurchase, respectively. These prepaid borrowings had contractual amounts of $795 million and $50 million maturing in 2017 and 2018, respectively, and had a combined weighted average interest rate of 3.72 percent . The debt extinguishment resulted in a loss, consisting of prepayment penalties, totaling approximately $51.1 million for the year ended December 31, 2015 . FHLB Advances. The long-term FHLB advances had a weighted average interest rate of 3.37 percent and 3.96 percent at December 31, 2016 and 2015 , respectively. These FHLB advances are secured by pledges of certain eligible collateral, including but not limited to U.S. government and agency mortgage-backed securities and a blanket assignment of qualifying first lien mortgage loans, consisting of both residential mortgage and commercial real estate loans. The pledged assets to the FHLB also collateralize a $100 million letter of credit issued by the FHLB on Valley’s behalf to secure certain public deposits held at the Bank. The long-term FHLB advances at December 31, 2016 are scheduled for contractual balance repayments as follows: Year Amount (in thousands) 2017 $ 10,000 2021 840,000 Thereafter 200,000 Total long-term FHLB advances $ 1,050,000 Valley has no FHLB advances maturing in the years 2018 to 2020. The FHLB advances with scheduled repayments in years after 2017, reported in the table above, include $10 million in advances which are callable for early redemption by the FHLB during 2017 with interest rates ranging from 2.27 percent to 3.25 percent . Long-term borrowings for securities sold under agreements. The long-term borrowings for securities sold under agreements had a weighted average interest rate of 2.41 percent and 3.35 percent at December 31, 2016 and 2015 , respectively. The long-term repos at December 31, 2016 are scheduled for contractual balance repayments as follows: Year Amount (in thousands) 2017 $ 65,000 2018 50,000 Thereafter 50,000 Total long-term securities sold under agreements to repurchase $ 165,000 Subordinated Debt. In June 2015, the Bank issued $100 million of 4.55 percent subordinated debentures (notes) due July 30, 2025 with no call dates or prepayments allowed unless certain conditions exist. This subordinated note issuance was intended to replace our $100 million of 5 percent subordinated notes which matured and were repaid in July 2015. Interest on the subordinated notes is payable semi-annually in arrears on June 30 and December 30 of each year. In September 2013, Valley issued $125 million of its 5.125 percent subordinated notes due September 27, 2023 with no call dates or prepayments allowed, unless certain conditions exist. Interest on the subordinated debentures is payable semi-annually in arrears on March 27 and September 27 of each year. In conjunction with the issuance, Valley entered into an interest rate swap transaction used to hedge the change in the fair value of the subordinated notes. In August 2016, the fair value interest rate swap with a notional amount of $125 million was terminated resulting in an adjusted fixed annual interest rate of 3.32 percent on the subordinated notes, after amortization of the derivative valuation adjustment recorded at the termination date (see Note 15). The subordinated notes had a net carrying value of $136.7 million and $130.6 million at December 31, 2016 and 2015 , respectively. Pledged Securities. The fair value of securities pledged to secure public deposits, repurchase agreements, lines of credit, FHLB advances and for other purposes required by law approximated $1.5 billion and $1.4 billion at December 31, 2016 and 2015 , respectively.

Junior Subordinated Debentures

Junior Subordinated Debentures Issued to Capital Trusts	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Junior Subordinated Debentures Issued to Capital Trusts	JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS (Note 11) Valley acquired GCB Capital Trust III, State Bancorp Capital Trust I, and State Bancorp Capital Trust II in past bank acquisitions. These statutory trusts were established for the sole purpose of issuing trust preferred securities and related trust common securities. The proceeds from such issuances were used by the trust to purchase an equivalent amount of junior subordinated debentures issued by the acquired bank, and now assumed by Valley. The junior subordinated debentures, the sole assets of the trusts, are unsecured obligations of Valley, and are subordinate and junior in right of payment to all present and future senior and subordinated indebtedness and certain other financial obligations of Valley. Valley does not consolidate its capital trusts based on U.S. GAAP but wholly owns all of the common securities of each trust. The table below summarizes the outstanding junior subordinated debentures and the related trust preferred securities issued by each trust as of December 31, 2016 and 2015: GCB Capital Trust III State Bancorp Capital Trust I State Bancorp Capital Trust II ($ in thousands) Junior Subordinated Debentures: December 31, 2016 Carrying value (1) $ 24,777 $ 8,724 $ 8,076 Contractual principal balance 24,743 10,310 10,310 December 31, 2015 Carrying value (1) $ 24,846 $ 8,624 $ 7,944 Contractual principal balance 24,743 10,310 10,310 Annual interest rate (2) 6.96 % 3-month LIBOR+3.45% 3-month LIBOR+2.85% Stated maturity date July 30, 2037 November 7, 2032 January 23, 2034 Initial call date July 30, 2017 November 7, 2007 January 23, 2009 Trust Preferred Securities: December 31, 2016 and 2015 Face value $ 24,000 $ 10,000 $ 10,000 Annual distribution rate (2) 6.96 % 3-month LIBOR+3.45% 3-month LIBOR+2.85% Issuance date July 2, 2007 October 29, 2002 December 19, 2003 Distribution dates (3) Quarterly Quarterly Quarterly (1) T he carrying values include unamortized purchase accounting adjustments at December 31, 2016 and 2015. (2) Interest on GCB Capital Trust III is fixed until July 30, 2017, then resets to 3 -month LIBOR plus 1.4 percent . The annual interest rate for all of the junior subordinated debentures and related trust preferred securities excludes the effect of the purchase accounting adjustments. (3) All cash distributions are cumulative. The trust preferred securities are subject to mandatory redemption, in whole or in part, upon repayment of the junior subordinated debentures at the stated maturity date or upon redemption on the date no earlier than the call dates noted in the table above. The trusts’ ability to pay amounts due on the trust preferred securities is solely dependent upon Valley making payments on the related junior subordinated debentures. Valley’s obligation under the junior subordinated debentures and other relevant trust agreements, in aggregate, constitutes a full and unconditional guarantee by Valley of the trusts’ obligations under the trust preferred securities issued. Under the junior subordinated debenture agreements, Valley has the right to defer payment of interest on the debentures and, therefore, distributions on the trust preferred securities, for up to five years , but not beyond the stated maturity dates in the table above. Currently, Valley has no intention to exercise its right to defer interest payments on the debentures. The trust preferred securities are included in Valley’s total risk-based capital (as Tier 2 capital) for regulatory purposes at December 31, 2016 . Based on the regulatory capital guidance under the Basel III rules, the trust preferred securities issued by our capital trusts were fully phased out of Tier 1 capital on January 1, 2016.

Benefit Plans

Benefit Plans	12 Months Ended
	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Benefit Plans	BENEFIT PLANS (Note 12) Pension Plan The Bank has a non-contributory defined benefit plan (qualified plan) covering most of its employees. The qualified plan benefits are based upon years of credited service and the employee’s highest average compensation as defined. Additionally, the Bank has a supplemental non-qualified, non-funded retirement plan, which is designed to supplement the pension plan for key officers, and Valley has a non-qualified, non-funded directors’ retirement plan (both of these plans are referred to as the “non-qualified plans” below). Effective December 31, 2013 the benefits earned under the qualified and non-qualified were frozen. As a result, Valley re-measured the projected benefit obligation of the affected plans and the funded status of each plan at June 30, 2013. Consequently, participants in each plan will not accrue further benefits and their pension benefits will be determined based on the compensation and service as of December 31, 2013. Plan benefits will not increase for any compensation or service earned after such date. However, participants’ benefits will continue to vest as long as they work for Valley. The following table sets forth the change in the projected benefit obligation, the change in fair value of plan assets and the funded status and amounts recognized in Valley’s consolidated financial statements for the qualified and non-qualified plans at December 31, 2016 and 2015 : 2016 2015 (in thousands) Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 157,661 $ 176,339 Interest cost 6,681 6,889 Actuarial loss (gain) 2,047 (17,177 ) Benefits paid (5,546 ) (8,390 ) Projected benefit obligation at end of year $ 161,306 $ 157,661 Change in fair value of plan assets: Fair value of plan assets at beginning of year $ 189,414 $ 194,646 Actual return on plan assets 22,424 2,875 Employer contributions 347 283 Benefits paid (5,546 ) (8,390 ) Fair value of plan assets at end of year* $ 206,639 $ 189,414 Funded status of the plan Asset recognized $ 45,333 $ 31,753 Accumulated benefit obligation 161,306 157,661 * Includes accrued interest receivable of $606 thousand and $607 thousand as of December 31, 2016 and 2015 , respectively. Amounts recognized as a component of accumulated other comprehensive loss as of year-end that have not been recognized as a component of the net periodic pension expense for Valley’s qualified and non-qualified plans are presented in the following table. Valley expects to recognize approximately $367 thousand of the net actuarial loss reported in the following table as of December 31, 2016 as a component of net periodic pension expense during 2017 . 2016 2015 (in thousands) Net actuarial loss $ 30,140 $ 36,271 Deferred tax benefit (12,647 ) (15,118 ) Total $ 17,493 $ 21,153 The non-qualified plans had a projected benefit obligation, accumulated benefit obligation, and fair value of plan assets as follows: 2016 2015 (in thousands) Projected benefit obligation $ 18,286 $ 17,411 Accumulated benefit obligation 18,286 17,411 Fair value of plan assets — — In determining discount rate assumptions, management looks to current rates on fixed-income corporate debt securities that receive a rating of AA or higher from either Moody’s or S&P with durations equal to the expected benefit payments streams required of each plan. The weighted average discount rate used in determining the actuarial present value of benefit obligations for the qualified and non-qualified plans were 4.11 percent and 4.33 percent as of December 31, 2016 and 2015 , respectively. The net periodic pension income for the qualified and non-qualified plans included the following components for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 (in thousands) Interest cost $ 6,681 $ 6,889 $ 6,897 Expected return on plan assets (14,539 ) (14,023 ) (12,967 ) Amortization of net loss 294 790 226 Total net periodic pension income $ (7,564 ) $ (6,344 ) $ (5,844 ) At the end of 2016, Valley changed the method utilized to estimate the interest cost component of net periodic pension costs for our qualified and non-qualified plans. Historically, Valley estimated the interest cost component (and the service cost component when it was applicable) using a single weighted average discount rate derived from the yield curve used to measure the benefit obligation at the beginning of the period. Valley will elect to use a spot rate approach for the plans in the estimation of these components of benefit cost by applying the specific spot rates along the yield curve to the relevant projected cash flows, as Valley believes this provides a better estimate of service and interest costs. Valley considers this a change in estimate and, accordingly, will account for it prospectively starting in 2017. This change does not affect the measurement of the total benefit obligation. For 2017, the change in estimate is expected to increase net periodic pension income by approximately $765 thousand when compared to the prior approach. Other changes in the qualified and non-qualified plan assets and benefit obligations recognized in other comprehensive income/loss for the years ended December 31, 2016 and 2015 were as follows: 2016 2015 (in thousands) Net gain $ (5,837 ) $ (6,030 ) Prior service cost 462 — Amortization of actuarial loss (294 ) (790 ) Total recognized in other comprehensive income $ (5,669 ) $ (6,820 ) Total recognized in net periodic pension income and other comprehensive income/loss (before tax) $ (13,233 ) $ (13,163 ) The benefit payments, which reflect expected future service, as appropriate, expected to be paid in future years are presented in the following table: Year Amount (in thousands) 2017 $ 6,847 2018 7,206 2019 7,744 2020 8,081 2021 8,423 Thereafter 45,462 The weighted average discount rate, expected long-term rate of return on assets and rate of compensation increase used in determining Valley’s pension expense for the years ended December 31, 2016 , 2015 and 2014 were as follows: 2016 2015 2014 Discount rate 4.33 % 4.02 % 4.89 % Expected long-term return on plan assets 7.50 % 7.50 % 7.50 % Rate of compensation increase N/A N/A N/A The expected rate of return on plan assets assumption is based on the concept that it is a long-term assumption independent of the current economic environment and changes would be made in the expected return only when long-term inflation expectations change, asset allocations change or when asset class returns are expected to change for the long-term. In accordance with Section 402 (c) of ERISA, the qualified plan’s investment managers are granted full discretion to buy, sell, invest and reinvest the portions of the portfolio assigned to them consistent with the Bank’s Pension Committee’s policy and guidelines. The target asset allocation set for the qualified plan are equity securities ranging from 25 percent to 65 percent and fixed income securities ranging from 35 percent to 75 percent . The absolute investment objective for the equity portion is to earn at least 7 percent cumulative annualized real return, after adjustment by the Consumer Price Index (CPI), over rolling five -year periods, while the relative objective is to earn returns above the S&P 500 Index over rolling three -year periods. For the fixed income portion, the absolute objective is to earn at least a 3 percent cumulative annual real return, after adjustment by the CPI over rolling five -year periods with a relative objective of earning returns above the Merrill Lynch Intermediate Government/Corporate Index over rolling three -year periods. Cash equivalents will be invested in money market funds or in other high quality instruments approved by the Trustees of the qualified plan. The exposure of the plan assets of the qualified plan to a concentration of credit risk is limited by the Bank’s Pension Committee’s diversification of the investments into various investment options with multiple asset managers. The Pension Committee engages an investment management advisory firm that regularly monitors the performance of the asset managers and ensures they are within compliance of the policies adopted by the Trustees. If the risk profile and overall return of assets managed are not in line with the risk objectives or expected return benchmarks for the qualified plan, the advisory firm may recommend the termination of an asset manager to the Pension Committee. In general, the plan assets of the qualified plan are investment securities that are well-diversified in terms of industry, capitalization and asset class. The following table presents the qualified plan weighted-average asset allocations by asset category that are measured at fair value on a recurring basis by level within the fair value hierarchy under ASC Topic 820. Financial assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. See Note 3 for further details regarding the fair value hierarchy. Fair Value Measurements at Reporting Date Using: % of Total Investments December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) ($ in thousands) Assets: Investments: Equity securities 43 % $ 88,250 $ 88,250 $ — $ — Corporate bonds 21 43,152 — 43,152 — Mutual funds 19 38,975 38,975 — — U.S. Treasury securities 12 24,910 24,910 — — Cash and money market funds 5 10,402 10,402 — — U.S. government agency securities * 344 — 344 — Total investments 100 % $ 206,033 $ 162,537 $ 43,496 $ — Fair Value Measurements at Reporting Date Using: % of Total Investments December 31, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) ($ in thousands) Assets: Investments: Equity securities 41 % $ 76,578 $ 76,578 $ — $ — Corporate bonds 22 41,786 — 41,786 — Mutual funds 19 36,052 36,052 — — U.S. Treasury securities 12 22,130 2,213 — — Cash and money market funds 6 11,913 11,913 — — U.S. government agency securities * 348 — 348 — Total investments 100 % $ 188,807 $ 126,756 $ 42,134 $ — * Represents less than one percent of total investments. The following is a description of the valuation methodologies used for assets measured at fair value: Equity securities, U.S. Treasury securities and cash and money market funds are valued at fair value in the table above utilizing exchange quoted prices in active markets for identical instruments (Level 1 inputs). Mutual funds are measured at their respective net asset values, which represents fair values of the securities held in the funds based on exchange quoted prices available in active markets (Level 1 inputs). Corporate bonds and U.S. government agency securities are reported at fair value utilizing Level 2 inputs. The prices for these investments are derived from market quotations and matrix pricing obtained through an independent pricing service. Such fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. Based upon actuarial estimates, Valley does not expect to make any contributions to the qualified plan. Funding requirements for subsequent years are uncertain and will significantly depend on whether the plan’s actuary changes any assumptions used to calculate plan funding levels, the actual return on plan assets, changes in the employee groups covered by the plan, and any legislative or regulatory changes affecting plan funding requirements. For tax planning, financial planning, cash flow management or cost reduction purposes, Valley may increase, accelerate, decrease or delay contributions to the plan to the extent permitted by law. Other Non-Qualified Plans Valley maintains other non-qualified plans for former directors of banks acquired, as well as a non-qualified plan for former senior management of Merchants Bank of New York acquired in January of 2001. Valley did not merge these plans into its existing non-qualified plans. Collectively, at December 31, 2016 and 2015 , the remaining obligations under these plans were $3.3 million and $3.4 million , respectively, of which $1.5 million and $1.6 million , respectively, were funded by Valley. As of December 31, 2016 and 2015 , the entire obligations were included in other liabilities and $867 thousand (net of a $614 thousand tax benefit) and $1.0 million (net of a $748 thousand tax benefit), respectively, were recorded in accumulated other comprehensive loss. The $1.5 million in accumulated other comprehensive loss will be reclassified to expense on a straight-line basis over the remaining benefit periods of these non-qualified plans. Bonus Plan Valley National Bank and its subsidiaries may award cash incentive and merit bonuses to its officers and employees based upon a percentage of the covered employees’ compensation as determined by the achievement of certain performance objectives. Amounts charged to salary expense were $10.5 million , $9.0 million and $6.8 million during 2016 , 2015 and 2014 , respectively. Savings and Investment Plan Valley National Bank maintains a KSOP, which is defined as a 401(k) plan with an employee stock ownership feature. This plan covers eligible employees of the Bank and its subsidiaries and allows employees to contribute a percentage of their salary, with the Bank matching a certain percentage of the employee contribution in cash and invested in accordance with each participant’s investment elections. The Bank recorded $6.7 million , $7.1 million and $6.0 million in expense for contributions to the plan for the years ended December 31, 2016 , 2015 and 2014 , respectively. Effective January 1, 2016, Valley amended the benefits under the Bank’s 401(k) plan. Under the amendment, Valley’s matching contribution increased to a 100 percent of the first 4 percent of compensation contributed by an employee each pay period, and 50 percent of the next 2 percent of compensation contributed, for a maximum matching contribution of 5 percent with an annual limit of $13,250 in 2016. During 2015 and 2014, Valley's matching contribution was dollar-for-dollar up to 6 percent of compensation contributed by an employee each pay period. Stock-Based Compensation Valley currently has one active employee stock option plan, the 2016 Long-Term Stock Incentive Plan (the “2016 Stock Plan”), adopted by Valley’s Board of Directors on January 29, 2016 and approved by its shareholders on April 28, 2016. The 2016 Stock Plan provides for certain increases and decreases in the number of shares available for grant under Valley's 2009 Long-Term Stock Incentive Plan (the "2009 Stock Plan"). Effective January 1, 2016, the 2.2 million of common shares remaining under the 2009 Stock Plan became available for future grants under the 2016 Stock Plan. Accordingly, Valley will no longer grant new awards under the 2009 Stock Plan. The Employee Stock Incentive Plan is administered by the Compensation and Human Resources Committee (the “Committee”) appointed by Valley’s Board of Directors. The Committee can grant awards to officers and key employees of Valley. The purpose of the Employee Stock Incentive Plan is to provide additional incentive to officers and key employees of Valley and its subsidiaries, whose substantial contributions are essential to the continued growth and success of Valley, and to attract and retain competent and dedicated officers and other key employees whose efforts will result in the continued and long-term growth of Valley’s business. Under the 2016 Stock Plan, Valley may award shares of common stock to its employees and non-employee directors in the form of stock appreciation rights, both incentive and non-qualified stock options, restricted stock and restricted stock units (RSUs). As of December 31, 2016 , 8.3 million shares of common stock were available for issuance under the 2016 Stock Plan. The essential features of each award are described in the award agreement relating to that award. The grant, exercise, vesting, settlement or payment of an award may be based upon the fair value of Valley’s common stock on the last sale price reported for Valley’s common stock on such date or the last sale price reported preceding such date, except for performance-based awards with a market condition. The grant date fair values of performance-based awards that vest based on a market condition are determined by a third party specialist using a Monte Carlo valuation model. The maximum term to exercise an incentive stock option is ten years from the date of grant and is subject to a vesting schedule. Valley recorded total stock-based compensation expense, primarily for restricted stock awards, totaling $10.0 million , $8.8 million and $7.5 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. The stock-based compensation expense for 2016 , 2015 and 2014 included $3.5 million , $2.6 million and $3.9 million , respectively, related to stock awards granted to retirement eligible employees and was immediately recognized. The fair values of all other stock awards are expensed over the shorter of the vesting or required service period. As of December 31, 2016 , the unrecognized amortization expense for all stock-based compensation totaled approximately $13.8 million and will be recognized over an average remaining vesting period of approximately 2.5 years . Restricted Stock. Restricted stock is awarded to key employees providing for the immediate award of our common stock subject to certain vesting and restrictions under the Employee Stock Incentive Plan. Compensation expense is measured based on the grant-date fair value of the shares. The following table sets forth the changes in restricted stock awards outstanding for the years ended December 31, 2016 , 2015 and 2014 : Restricted Stock Awards Outstanding 2016 2015 2014 Outstanding at beginning of year 2,755,138 2,574,616 1,709,312 Granted 544,307 886,427 1,488,960 Vested (1,050,293 ) (559,958 ) (524,663 ) Forfeited (148,336 ) (145,947 ) (98,993 ) Outstanding at end of year 2,100,816 2,755,138 2,574,616 The restricted stock awards granted in 2016 have vesting periods ranging from three to six years . The average grant date fair value of restricted stock awarded during the year ended December 31, 2016 was $8.84 per share. Included in the restricted shares granted (in the table above) during 2014, 240 thousand shares were performance-based awards made to executive officers. The performance-based restricted stock awards vest based on the same performance measures for the RSU grants discussed further below. A portion of the performance-based restricted stock awards vest after three years based on the cumulative performance of Valley during that time period with an opportunity for earlier vesting of a portion of the shares based on growth in tangible book value performance. During 2016 and 2015, 53 thousand and 50 thousand restricted shares, respectively, of the performance-based restricted stock awards vested. The remaining outstanding awards were unvested as of December 31, 2016, of which 85 thousand shares vested during the first quarter of 2017. The remaining unvested restricted stock awards were subsequently forfeited during the first quarter of 2017 due to failure to meet the performance and market conditions. Restricted Stock Units . Valley granted 431 thousand shares and 313 thousand shares of performance-based RSUs to certain executive officers for the year ended December 31, 2016 and 2015, respectively. The RSUs vest based on (i) growth in tangible book value per share plus dividends ( 75 percent of performance shares) and (ii) total shareholder return as compared to our peer group ( 25 percent of performance shares). The RSUs "cliff" vest after three years based on the cumulative performance of Valley during that time period. The RSUs earn dividend equivalents (equal to cash dividends paid on Valley's common share) over the applicable performance period. Dividend equivalents and accrued interest, per the terms of the agreements, are accumulated and paid to the grantee at the vesting date, or forfeited if the performance conditions are not met. The grant date fair value of the RSUs was $8.32 and $8.98 per share for the years ended December 31, 2016 and 2015 , respectively. Compensation costs related to RSUs totaled $2.8 million and $2.3 million , and were included in total stock-based compensation expense for the years ended December 31, 2016 and 2015 , respectively. Our 2016 Stock Plan provides for our non-employee directors to be eligible recipients of limited equity awards. Commencing with our 2017 annual meeting, each non-employee director will receive RSU awards totaling $50,000 in grant date fair value as part of their annual retainer. The RSUs will be granted on the date of the annual shareholders’ meeting, with the number of RSUs to be determined using the closing market price on the date prior to grant. The RSUs vest on the earliest of the next annual shareholders’ meeting or the first anniversary of the grant date, with acceleration upon a change in control, death or disability, but not resignation from the board. Stock Options . The fair value of each option granted on the date of grant is estimated using a binomial option pricing model. The fair values are estimated using assumptions for dividend yield based on the annual dividend rate; the stock volatility, based on Valley’s historical and implied stock price volatility; the risk free interest rates, based on the U.S. Treasury constant maturity bonds, in effect on the actual grant dates, with a remaining term approximating the expected term of the options; and expected exercise term calculated based on Valley’s historical exercise experience. The following table summarizes stock options activity as of December 31, 2016 , 2015 and 2014 and changes during the years ended on those dates: 2016 2015 2014 Weighted Average Exercise Weighted Average Exercise Weighted Average Exercise Stock Options Shares Price Shares Price Shares Price Outstanding at beginning of year 1,383,365 $ 16 1,828,591 $ 17 2,322,593 $ 17 Granted — — 100,000 11 — — Forfeited or expired (650,876 ) 18 (545,226 ) 18 (494,002 ) 19 Outstanding at end of year 732,489 14 1,383,365 16 1,828,591 17 Exercisable at year-end 632,489 14 1,283,365 16 1,828,591 17 The following table summarizes information about stock options outstanding and exercisable at December 31, 2016 : Options Outstanding and Exercisable Range of Exercise Prices Number of Options Weighted Average Remaining Contractual Life in Years Weighted Average Exercise Price $10-14 134,681 3.6 $ 12 14-15 445,654 1.1 15 15-17 3,388 1.1 16 18-19 48,766 0.1 19 632,489 1.6 14 Director Restricted Stock Plan. The Director Restricted Stock Plan provides the non-employee members of the Board of Directors with the opportunity to forgo some or their entire annual cash retainer and meeting fees in exchange for shares of Valley restricted stock. On January 29, 2014, the Director Restricted Stock Plan was amended to provide that no additional fees may be exchanged for Valley’s restricted stock effective April 1, 2014. The Director Restricted Stock Plan will terminate after April 2018 when the remaining restricted stock under the plan vests and is delivered, or is forfeited pursuant to such plan. The following table sets forth the changes in director’s restricted stock awards outstanding for the years ended December 31, 2016 , 2015 and 2014: Restricted Stock Awards Outstanding 2016 2015 2014 Outstanding at beginning of year 80,117 98,086 121,792 Vested (24,607 ) (17,969 ) (23,706 ) Outstanding at end of year 55,510 80,117 98,086

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES (Note 13) Income tax expense for the years ended December 31, 2016 , 2015 and 2014 consisted of the following: 2016 2015 2014 (in thousands) Current expense (benefit): Federal $ 25,176 $ 7,978 $ 25,156 State 12,904 (493 ) (5,549 ) 38,080 7,485 19,607 Deferred expense: Federal 10,658 (7,539 ) (13,888 ) State 16,496 23,992 25,343 27,154 16,453 11,455 Total income tax expense $ 65,234 $ 23,938 $ 31,062 The tax effects of temporary differences that gave rise to the significant portions of the deferred tax assets and liabilities as of December 31, 2016 and 2015 are as follows: 2016 2015 (in thousands) Deferred tax assets: Allowance for loan losses $ 47,485 $ 44,382 Depreciation 12,432 15,661 Employee benefits 16,121 16,104 Investment securities, including other-than-temporary impairment losses 17,272 18,697 Net operating loss carryforwards 46,667 57,722 Purchase accounting 33,172 40,585 Other 22,183 21,310 Total deferred tax assets 195,332 214,461 Deferred tax liabilities: Pension plans 24,575 18,861 Other investments 20,831 15,720 Other 20,418 21,449 Total deferred tax liabilities 65,824 56,030 Net deferred tax asset (included in other assets) $ 129,508 $ 158,431 Valley's federal net operating loss carryforwards totaled approximately $77.6 million at December 31, 2016 and expire during the period from 2029 through 2034 and state net operating loss carryforwards totaled approximately $514.3 million at December 31, 2016 and expire during the period from 2017 through 2036. Valley’s federal and state alternative minimum tax credit carryforwards were approximately $1.9 million and $3.7 million at December 31, 2016 , respectively, and can be carried forward indefinitely. Based upon taxes paid and projections of future taxable income over the periods in which the net deferred tax assets are deductible, management believes that it is more likely than not that Valley will realize the benefits of these deductible differences and loss carryforwards. Reconciliation between the reported income tax expense and the amount computed by multiplying consolidated income before taxes by the statutory federal income tax rate of 35 percent for the years ended December 31, 2016 , 2015 and 2014 were as follows: 2016 2015 2014 (in thousands) Federal income tax at expected statutory rate $ 81,683 $ 44,413 $ 51,532 Increase (decrease) due to: State income tax expense, net of federal tax effect 19,197 15,274 12,866 Tax-exempt interest, net of interest incurred to carry tax-exempt securities (5,308 ) (4,864 ) (4,406 ) Bank owned life insurance (2,343 ) (2,385 ) (2,237 ) Tax credits from securities and other investments (25,954 ) (28,988 ) (20,555 ) Reduction in reserve for uncertainties — — (6,971 ) Other, net (2,041 ) 488 833 Income tax expense $ 65,234 $ 23,938 $ 31,062 A reconciliation of Valley’s gross unrecognized tax benefits for 2016 , 2015 and 2014 are presented in the table below: 2016 2015 2014 (in thousands) Beginning balance $ 19,892 $ 18,647 $ 30,713 Additions based on tax positions related to prior years 3,958 1,245 1,408 Settlements with taxing authorities (4,820 ) — (9,050 ) Reductions due to expiration of statute of limitations (2,886 ) — (4,424 ) Ending balance $ 16,144 $ 19,892 $ 18,647 The entire balance of unrecognized tax benefits, if recognized, would favorably affect our effective income tax rate. It is reasonably possible that the liability for unrecognized tax benefits could increase or decrease in the next twelve months due to completion of tax authorities’ exams or the expiration of statutes of limitations. Management estimates that the liability for unrecognized tax benefits could decrease by $16.1 million within the next twelve months. Valley’s policy is to report interest and penalties, if any, related to unrecognized tax benefits in income tax expense. Valley has accrued approximately $4.6 million and $5.2 million of interest associated with Valley’s uncertain tax positions at December 31, 2016 and 2015 , respectively. Valley files income tax returns in the U.S. federal and various state jurisdictions. With few exceptions, Valley is no longer subject to U.S. federal and state income tax examinations by tax authorities for years before 2009. Valley is under examination by the IRS and also currently under routine examination by various state jurisdictions, and we expect the examinations to be completed within the next twelve months. Valley has considered, for all open audits, any potential adjustments in establishing our reserve for unrecognized tax benefits as of December 31, 2016 . TAX CREDIT INVESTMENTS (Note 14) Valley’s tax credit investments are primarily related to investments promoting qualified affordable housing projects, and other investments related to community development and renewable energy sources. Some of these tax-advantaged investments support Valley’s regulatory compliance with the Community Reinvestment Act. Valley’s investments in these entities generate a return primarily through the realization of federal income tax credits, and other tax benefits, such as tax deductions from operating losses of the investments, over specified time periods. These tax credits and deductions are recognized as a reduction of income tax expense. Valley’s tax credit investments are carried in other assets on the consolidated statements of financial condition. Valley’s unfunded capital and other commitments related to the tax credit investments are carried in accrued expenses and other liabilities on the consolidated statements of financial condition. Valley recognizes amortization of tax credit investments, including impairment losses, within non-interest expense of the consolidated statements of income using the equity method of accounting. An impairment loss is recognized when the fair value of the tax credit investment is less than its carrying value. The following table presents the balances of Valley’s affordable housing tax credit investments, other tax credit investments, and related unfunded commitments at December 31, 2016 and 2015 : December 31, 2016 2015 (in thousands) Other Assets: Affordable housing tax credit investments, net $ 29,567 $ 32,094 Other tax credit investments, net 44,763 70,681 Total tax credit investments, net $ 74,330 $ 102,775 Other Liabilities: Unfunded affordable housing tax credit commitments $ 4,850 $ 7,330 Unfunded other tax credit commitments 7,276 12,545 Total unfunded tax credit commitments $ 12,126 $ 19,875 The following table presents other information relating to Valley’s affordable housing tax credit investments and other tax credit investments for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 (in thousands) Components of Income Tax Expense: Affordable housing tax credits and other tax benefits $ 5,013 $ 4,709 $ 5,296 Other tax credit investment credits and tax benefits 33,294 23,877 14,357 Total reduction in income tax expense $ 38,307 $ 28,586 $ 19,653 Amortization of Tax Credit Investments: Affordable housing tax credit investment losses $ 2,077 $ 2,594 $ 3,184 Affordable housing tax credit investment impairment losses 450 1,321 3,211 Other tax credit investment losses 790 1,079 2,359 Other tax credit investment impairment losses 31,427 22,318 15,442 Total amortization of tax credit investments recorded in non-interest expense $ 34,744 $ 27,312 $ 24,196

Tax Credit Investments

Tax Credit Investments	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Tax Credit Investments	INCOME TAXES (Note 13) Income tax expense for the years ended December 31, 2016 , 2015 and 2014 consisted of the following: 2016 2015 2014 (in thousands) Current expense (benefit): Federal $ 25,176 $ 7,978 $ 25,156 State 12,904 (493 ) (5,549 ) 38,080 7,485 19,607 Deferred expense: Federal 10,658 (7,539 ) (13,888 ) State 16,496 23,992 25,343 27,154 16,453 11,455 Total income tax expense $ 65,234 $ 23,938 $ 31,062 The tax effects of temporary differences that gave rise to the significant portions of the deferred tax assets and liabilities as of December 31, 2016 and 2015 are as follows: 2016 2015 (in thousands) Deferred tax assets: Allowance for loan losses $ 47,485 $ 44,382 Depreciation 12,432 15,661 Employee benefits 16,121 16,104 Investment securities, including other-than-temporary impairment losses 17,272 18,697 Net operating loss carryforwards 46,667 57,722 Purchase accounting 33,172 40,585 Other 22,183 21,310 Total deferred tax assets 195,332 214,461 Deferred tax liabilities: Pension plans 24,575 18,861 Other investments 20,831 15,720 Other 20,418 21,449 Total deferred tax liabilities 65,824 56,030 Net deferred tax asset (included in other assets) $ 129,508 $ 158,431 Valley's federal net operating loss carryforwards totaled approximately $77.6 million at December 31, 2016 and expire during the period from 2029 through 2034 and state net operating loss carryforwards totaled approximately $514.3 million at December 31, 2016 and expire during the period from 2017 through 2036. Valley’s federal and state alternative minimum tax credit carryforwards were approximately $1.9 million and $3.7 million at December 31, 2016 , respectively, and can be carried forward indefinitely. Based upon taxes paid and projections of future taxable income over the periods in which the net deferred tax assets are deductible, management believes that it is more likely than not that Valley will realize the benefits of these deductible differences and loss carryforwards. Reconciliation between the reported income tax expense and the amount computed by multiplying consolidated income before taxes by the statutory federal income tax rate of 35 percent for the years ended December 31, 2016 , 2015 and 2014 were as follows: 2016 2015 2014 (in thousands) Federal income tax at expected statutory rate $ 81,683 $ 44,413 $ 51,532 Increase (decrease) due to: State income tax expense, net of federal tax effect 19,197 15,274 12,866 Tax-exempt interest, net of interest incurred to carry tax-exempt securities (5,308 ) (4,864 ) (4,406 ) Bank owned life insurance (2,343 ) (2,385 ) (2,237 ) Tax credits from securities and other investments (25,954 ) (28,988 ) (20,555 ) Reduction in reserve for uncertainties — — (6,971 ) Other, net (2,041 ) 488 833 Income tax expense $ 65,234 $ 23,938 $ 31,062 A reconciliation of Valley’s gross unrecognized tax benefits for 2016 , 2015 and 2014 are presented in the table below: 2016 2015 2014 (in thousands) Beginning balance $ 19,892 $ 18,647 $ 30,713 Additions based on tax positions related to prior years 3,958 1,245 1,408 Settlements with taxing authorities (4,820 ) — (9,050 ) Reductions due to expiration of statute of limitations (2,886 ) — (4,424 ) Ending balance $ 16,144 $ 19,892 $ 18,647 The entire balance of unrecognized tax benefits, if recognized, would favorably affect our effective income tax rate. It is reasonably possible that the liability for unrecognized tax benefits could increase or decrease in the next twelve months due to completion of tax authorities’ exams or the expiration of statutes of limitations. Management estimates that the liability for unrecognized tax benefits could decrease by $16.1 million within the next twelve months. Valley’s policy is to report interest and penalties, if any, related to unrecognized tax benefits in income tax expense. Valley has accrued approximately $4.6 million and $5.2 million of interest associated with Valley’s uncertain tax positions at December 31, 2016 and 2015 , respectively. Valley files income tax returns in the U.S. federal and various state jurisdictions. With few exceptions, Valley is no longer subject to U.S. federal and state income tax examinations by tax authorities for years before 2009. Valley is under examination by the IRS and also currently under routine examination by various state jurisdictions, and we expect the examinations to be completed within the next twelve months. Valley has considered, for all open audits, any potential adjustments in establishing our reserve for unrecognized tax benefits as of December 31, 2016 . TAX CREDIT INVESTMENTS (Note 14) Valley’s tax credit investments are primarily related to investments promoting qualified affordable housing projects, and other investments related to community development and renewable energy sources. Some of these tax-advantaged investments support Valley’s regulatory compliance with the Community Reinvestment Act. Valley’s investments in these entities generate a return primarily through the realization of federal income tax credits, and other tax benefits, such as tax deductions from operating losses of the investments, over specified time periods. These tax credits and deductions are recognized as a reduction of income tax expense. Valley’s tax credit investments are carried in other assets on the consolidated statements of financial condition. Valley’s unfunded capital and other commitments related to the tax credit investments are carried in accrued expenses and other liabilities on the consolidated statements of financial condition. Valley recognizes amortization of tax credit investments, including impairment losses, within non-interest expense of the consolidated statements of income using the equity method of accounting. An impairment loss is recognized when the fair value of the tax credit investment is less than its carrying value. The following table presents the balances of Valley’s affordable housing tax credit investments, other tax credit investments, and related unfunded commitments at December 31, 2016 and 2015 : December 31, 2016 2015 (in thousands) Other Assets: Affordable housing tax credit investments, net $ 29,567 $ 32,094 Other tax credit investments, net 44,763 70,681 Total tax credit investments, net $ 74,330 $ 102,775 Other Liabilities: Unfunded affordable housing tax credit commitments $ 4,850 $ 7,330 Unfunded other tax credit commitments 7,276 12,545 Total unfunded tax credit commitments $ 12,126 $ 19,875 The following table presents other information relating to Valley’s affordable housing tax credit investments and other tax credit investments for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 (in thousands) Components of Income Tax Expense: Affordable housing tax credits and other tax benefits $ 5,013 $ 4,709 $ 5,296 Other tax credit investment credits and tax benefits 33,294 23,877 14,357 Total reduction in income tax expense $ 38,307 $ 28,586 $ 19,653 Amortization of Tax Credit Investments: Affordable housing tax credit investment losses $ 2,077 $ 2,594 $ 3,184 Affordable housing tax credit investment impairment losses 450 1,321 3,211 Other tax credit investment losses 790 1,079 2,359 Other tax credit investment impairment losses 31,427 22,318 15,442 Total amortization of tax credit investments recorded in non-interest expense $ 34,744 $ 27,312 $ 24,196

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES (Note 15) Lease Commitments Certain bank facilities are occupied under non-cancelable long-term operating leases, which expire at various dates through 2058. Certain lease agreements provide for renewal options and increases in rental payments based upon increases in the consumer price index or the lessors’ cost of operating the facility. Minimum aggregate lease payments for the remainder of the lease terms are as follows: Sublease Year Gross Rents Rents Net Rents (in thousands) 2017 $ 27,256 $ 2,888 $ 24,368 2018 26,863 2,260 24,603 2019 26,361 2,125 24,236 2020 26,458 2,059 24,399 2021 25,754 1,972 23,782 Thereafter 281,310 9,631 271,679 Total lease commitments $ 414,002 $ 20,935 $ 393,067 Net occupancy expense for years ended December 31, 2016 , 2015 , and 2014 included net rental expense of $27.7 million , $31.7 million , and $21.2 million , respectively, net of rental income of $4.0 million , $3.8 million , and $3.1 million , respectively, for leased bank facilities. Financial Instruments With Off-balance Sheet Risk In the ordinary course of business in meeting the financial needs of its customers, Valley, through its subsidiary Valley National Bank, is a party to various financial instruments, which are not reflected in the consolidated financial statements. These financial instruments include standby and commercial letters of credit, unused portions of lines of credit and commitments to extend various types of credit. These instruments involve, to varying degrees, elements of credit risk in excess of the amounts recognized in the consolidated financial statements. The commitment or contract amount of these instruments is an indicator of the Bank’s level of involvement in each type of instrument as well as the exposure to credit loss in the event of non-performance by the other party to the financial instrument. The Bank seeks to limit any exposure of credit loss by applying the same credit policies in making commitments, as it does for on-balance sheet lending facilities. The following table provides a summary of financial instruments with off-balance sheet risk at December 31, 2016 and 2015 : 2016 2015 (in thousands) Commitments under commercial loans and lines of credit $ 2,855,326 $ 2,554,146 Home equity and other revolving lines of credit 904,999 822,506 Outstanding commercial mortgage loan commitments 560,929 724,236 Standby letters of credit 217,695 198,253 Commitments to sell loans 147,250 41,860 Outstanding residential mortgage loan commitments 108,063 54,293 Commitments under unused lines of credit—credit card 49,715 50,532 Commercial letters of credit 4,960 4,249 Obligations to advance funds under commitments to extend credit, including commitments under unused lines of credit, are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have specified expiration dates, which may be extended upon request, or other termination clauses and generally require payment of a fee. These commitments do not necessarily represent future cash requirements as it is anticipated that many of these commitments will expire without being fully drawn upon. The Bank’s lending activity for outstanding loan commitments is primarily to customers within the states of New Jersey, New York, and Florida. Standby letters of credit represent the guarantee by the Bank of the obligations or performance of the bank customer in the event of the default of payment or nonperformance to a third party beneficiary. Loan sale commitments represent contracts for the sale of residential mortgage loans to third parties in the ordinary course of the Bank’s business. These commitments require the Bank to deliver loans within a specific period to the third party. The risk to the Bank is its non-delivery of loans required by the commitment, which could lead to financial penalties. The Bank has not defaulted on its loan sale commitments. Litigation In the normal course of business, Valley is a party to various outstanding legal proceedings and claims. In the opinion of management, the financial condition, results of operations and liquidity of Valley should not be materially affected by the outcome of such legal proceedings and claims. However, in the event of an unexpected adverse outcome in one or more of our legal proceedings, operating results for a particular period may be negatively impacted. Disclosure is required when a risk of material loss in a litigation or claim is more than remote, even when the risk of a material loss is less than likely. Unless an estimate cannot be made, disclosure is also required of the estimate of the reasonably possible loss or range of loss. Although there can be no assurance as to the ultimate outcome, Valley has generally denied, or believes it has a meritorious defense and will deny liability in litigation pending against Valley and claims made, including the matter described below. Valley intends to defend vigorously each case against it. Liabilities are established for legal claims when payments associated with the claims become probable and the costs can be reasonably estimated. Merrick Bank Corporation v. Valley National Bank and American Express Travel Related Services v. Valley National Bank litigation. For about a decade, Valley served as the depository bank for various charter operators under regulations of the Department of Transportation (DOT) and contracts entered into with charter operators under those regulations. The purported intent of the regulations is to afford some protection to the customers of the charter operators. A charter operator has several options with regard to fulfilling its obligations under the regulations, with one option requiring the charter operator to deposit the proceeds of tickets purchased for a charter flight into an FDIC insured bank account. The funds for a flight are released when the charter operator certifies that the flight has been completed. Valley stopped serving as a depository bank for the charter business due to the narrow profit in that business combined with the legal expenses incurred to defend itself in a prior case in which Valley was completely successful and the anticipated legal expenses from the following similar cases that are still pending. Valley served as the depository bank for Myrtle Beach Direct Air (Direct Air) under a contract between Direct Air and Valley approved by the DOT under the DOT regulations. Direct Air commenced operations in 2007 but in March 2012 Direct Air ceased operations and filed for bankruptcy. Thereafter the United States Justice Department charged three of the principals of Direct Air with criminal fraud; that case is expected to go to trial in September 2017. Merrick Bank Corp. (Merrick) was the merchant bank for Direct Air and processed credit card purchases for Direct Air. Following the bankruptcy of Direct Air, Merrick incurred chargebacks in the approximate amount of $26.2 million when the Direct Air customers whose flights had been canceled obtained a credit from their card issuing banks for the cost of the ticket or other item purchased from Direct Air. Merrick was not able to recover the chargebacks from Direct Air. Direct Air’s depository account at Valley contained approximately $1.0 million at the time Direct Air ceased operations. Merrick filed an action against Valley with ten counts in December 2013. Valley moved to dismiss five of the counts and, in March 2015, the court dismissed four of the five counts. American Express Travel Related Services (American Express) filed a similar action against Valley claiming about $3.0 million in chargebacks. Five of American Express’ eleven counts have been dismissed. The two cases have now been consolidated in the Federal District Court of New Jersey. The parties are scheduled for mediation in March 2017 after which, if the mediation is not successful, Valley will file summary judgment motions on all of the remaining counts in both the Merrick and American Express cases. At December 31, 2016, Valley could not estimate an amount or range of reasonably possible losses related to the matter described above. Based upon information currently available and advice of counsel, Valley believes that the eventual outcome of such claims will not have a material adverse effect on Valley’s consolidated financial position. However, in the event of unexpected future developments, it is possible that the ultimate resolution of the matters, if unfavorable, may be material to Valley’s results of operations for a particular period. Derivative Instruments and Hedging Activities Valley is exposed to certain risks arising from both its business operations and economic conditions. Valley principally manages its exposure to a wide variety of business and operational risks through management of its core business activities. Valley manages economic risks, including interest rate and liquidity risks, primarily by managing the amount, sources, and duration of its assets and liabilities and, from time to time, the use of derivative financial instruments. Specifically, Valley enters into derivative financial instruments to manage exposures that arise from business activities that result in the payment of future known and uncertain cash amounts, the value of which are determined by interest rates. Valley’s derivative financial instruments are used to manage differences in the amount, timing, and duration of Valley’s known or expected cash receipts and its known or expected cash payments related to assets and liabilities as outlined below. Cash Flow Hedges of Interest Rate Risk. Valley’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, Valley uses interest rate swaps and caps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the payment of either fixed or variable-rate amounts in exchange for the receipt of variable or fixed-rate amounts from a counterparty. Interest rate caps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty if interest rates rise above the strike rate on the contract in exchange for an up-front premium. At December 31, 2016 , Valley had the following cash flow hedge derivatives: • Two interest rate swaps with a total notional amount of $100 million to hedge the changes in cash flows associated with prime-rate-indexed deposits, consisting of consumer and commercial money market deposit accounts. The swaps require the payment by Valley of fixed-rate amounts at approximately 5.11 percent in exchange for the receipt of variable-rate payments at the prime rate and expire in July 2017 . • One interest rate cap with a total notional amount of $125 million with a strike rate of 7.44 percent and a maturity date of September 27, 2023 used to hedge the total change in cash flows associated with prime-rate indexed deposits, consisting of consumer and commercial money market deposit accounts, which have variable interest rates indexed to the prime rate. • Three forward starting interest rate swaps with a total notional amount of $300 million to hedge the changes in cash flows associated with certain brokered money market deposits. Starting in November 2015 , the interest rate swaps required Valley to pay fixed-rate amounts ranging from approximately 2.57 percent to 2.97 percent , in exchange for the receipt of variable-rate payments at the three-month LIBOR rate. The three swaps have expiration dates ranging from November 2018 to November 2020 . • Four forward starting interest rate swaps with a total notional amount of $182 million to hedge the changes in cash flows associated with borrowed funds. Starting in March and April 2016, the interest rate swaps required Valley to pay fixed-rate amounts ranging from approximately 2.51 percent to 2.88 percent , in exchange for the receipt of variable-rate payments at the three-month LIBOR rate. The four swaps have expiration dates ranging from March 2019 to September 2020. Fair Value Hedges of Fixed Rate Assets and Liabilities. Valley is exposed to changes in the fair value of certain of its fixed rate assets or liabilities due to changes in benchmark interest rates based on one-month LIBOR. From time to time, Valley uses interest rate swaps to manage its exposure to changes in fair value. Interest rate swaps designated as fair value hedges involve the receipt of variable rate payments from a counterparty in exchange for Valley making fixed rate payments over the life of the agreements without the exchange of the underlying notional amount. For derivatives that are designated and qualify as fair value hedges, the gain or loss on the derivative as well as the loss or gain on the hedged item attributable to the hedged risk are recognized in earnings. Valley includes the gain or loss on the hedged items in the same income statement line item as the loss or gain on the related derivatives. At December 31, 2016 , Valley had one interest rate swap with a notional amount of approximately $8.0 million used to hedge the change in the fair value of a commercial loan. In August 2016, Valley terminated an interest rate swap with a notional amount of $125 million . The terminated swap, originally maturing in September 2023, was used to hedge the change in the fair value of Valley’s $125 million of 5.125 percent subordinated notes issued in September 2013. The transaction resulted in an adjusted annual interest rate of 3.32 percent on the subordinated notes, after amortization of the derivative valuation adjustment recorded at the termination date. Non-designated Hedges. Derivatives not designated as hedges may be used to manage Valley’s exposure to interest rate movements or to provide service to customers but do not meet the requirements for hedge accounting under U.S. GAAP. Derivatives not designated as hedges are not entered into for speculative purposes. Under a program, Valley executes interest rate swaps with commercial lending customers to facilitate their respective risk management strategies. These interest rate swaps with customers are simultaneously offset by interest rate swaps that Valley executes with a third party, such that Valley minimizes its net risk exposure resulting from such transactions. As the interest rate swaps associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings. In 2014, Valley issued $25 million of market linked certificates of deposit through a broker dealer. The rate paid on these hybrid instruments is based on a formula derived from the spread between the long and short ends of the constant maturity swap (CMS) rate curve. This type of instrument is referred to as a "steepener" since it derives its value from the slope of the CMS curve. Valley has determined that these hybrid instruments contain an embedded swap contract which has been bifurcated from the host contract. Valley entered into a swap (with a total notional amount of $25 million ) almost simultaneously with the deposit issuance where the receive rate on the swap mirrors the pay rate on the brokered deposits. The bifurcated derivative and the stand alone swap are both marked to market through other non-interest expense. Although these instruments do not meet the hedge accounting requirements, the change in fair value of both the bifurcated derivative and the stand alone swap tend to move in opposite directions with changes in the three-month LIBOR rate and, therefore, provide an effective economic hedge. Valley also regularly enters into mortgage banking derivatives which are non-designated hedges. These derivatives include interest rate lock commitments provided to customers to fund certain residential mortgage loans to be sold into the secondary market and forward commitments for the future delivery of such loans. Valley enters into forward commitments for the future delivery of residential mortgage loans when interest rate lock commitments are entered into in order to economically hedge the effect of future changes in interest rates on Valley’s commitments to fund the loans as well as on its portfolio of mortgage loans held for sale. Amounts included in the consolidated statements of financial condition related to the fair value of Valley’s derivative financial instruments were as follows: December 31, 2016 December 31, 2015 Fair Value Fair Value Other Assets Other Liabilities Notional Amount Other Assets Other Liabilities Notional Amount (in thousands) Derivatives designated as hedging instruments: Cash flow hedge interest rate caps and swaps $ 802 $ 15,641 $ 707,000 $ 1,284 $ 24,823 $ 907,000 Fair value hedge interest rate swaps — 986 7,999 7,658 1,306 133,209 Total derivatives designated as hedging instruments $ 802 $ 16,627 $ 714,999 $ 8,942 $ 26,129 $ 1,040,209 Derivatives not designated as hedging instruments: Interest rate swaps and embedded derivatives $ 25,285 $ 25,284 $ 1,075,722 $ 24,628 $ 24,623 $ 654,134 Mortgage banking derivatives 2,968 2,166 246,583 204 92 73,438 Total derivatives not designated as hedging instruments $ 28,253 $ 27,450 $ 1,322,305 $ 24,832 $ 24,715 $ 727,572 Losses included in the consolidated statements of income and in other comprehensive income (loss), on a pre-tax basis, related to interest rate derivatives designated as hedges of cash flows were as follows: 2016 2015 2014 (in thousands) Amount of loss reclassified from accumulated other comprehensive loss to interest expense $ (13,034 ) $ (7,075 ) $ (6,663 ) Amount of loss recognized in other comprehensive income (4,035 ) (12,360 ) (20,910 ) The net gains or losses related to cash flow hedge ineffectiveness were immaterial during the years ended December 31, 2016 , 2015 and 2014 . The accumulated net after-tax losses related to effective cash flow hedges included in accumulated other comprehensive loss were $12.5 million and $17.6 million at December 31, 2016 and 2015 , respectively. Amounts reported in accumulated other comprehensive loss related to cash flow interest rate derivatives are reclassified to interest expense as interest payments are made on the hedged variable interest rate liabilities. Valley estimates that $8.8 million will be reclassified as an increase to interest expense in 2017 . Gains (losses) included in the consolidated statements of income related to interest rate derivatives designated as hedges of fair value were as follows: 2016 2015 2014 (in thousands) Derivative—interest rate swaps: Interest income $ 320 $ 176 $ (13 ) Interest expense 6,670 1,400 9,380 Hedged item—loans, deposits and long-term borrowings: Interest income $ (320 ) $ (176 ) $ 13 Interest expense (6,645 ) (1,473 ) (9,449 ) During the years ended December 31, 2016 , 2015 and 2014 , the amounts recognized in non-interest expense related to the ineffectiveness of fair value hedges were immaterial. Net gains (losses) included in the consolidated statements of income related to derivative instruments not designated as hedging instruments were as follows: 2016 2015 2014 (in thousands) Non-designated hedge interest rate derivatives Other non-interest expense $ 690 $ 158 $ (214 ) Collateral Requirements and Credit Risk Related Contingency Features. By using derivatives, Valley is exposed to credit risk if counterparties to the derivative contracts do not perform as expected. Management attempts to minimize counterparty credit risk through credit approvals, limits, monitoring procedures and obtaining collateral where appropriate. Credit risk exposure associated with derivative contracts is managed at Valley in conjunction with Valley’s consolidated counterparty risk management process. Valley’s counterparties and the risk limits monitored by management are periodically reviewed and approved by the Board of Directors. Valley has agreements with its derivative counterparties providing that if Valley defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then Valley could also be declared in default on its derivative counterparty agreements. Additionally, Valley has an agreement with several of its derivative counterparties that contains provisions that require Valley’s debt to maintain an investment grade credit rating from each of the major credit rating agencies from which it receives a credit rating. If Valley’s credit rating is reduced below investment grade or such rating is withdrawn or suspended, then the counterparty could terminate the derivative positions, and Valley would be required to settle its obligations under the agreements. As of December 31, 2016 , Valley was in compliance with all of the provisions of its derivative counterparty agreements. As of December 31, 2016 , the fair value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $25.2 million . Valley has derivative counterparty agreements that require minimum collateral posting thresholds for certain counterparties. At December 31, 2016 , Valley had $52.4 million in collateral posted with its counterparties.

Balance Sheet Offsetting

Balance Sheet Offsetting	12 Months Ended
	Dec. 31, 2016
Offsetting [Abstract]
Balance Sheet Offsetting	BALANCE SHEET OFFSETTING (Note 16) Certain financial instruments, including derivatives (consisting of interest rate caps and swaps) and repurchase agreements (accounted for as secured long-term borrowings), may be eligible for offset in the consolidated balance sheet and/or subject to master netting arrangements or similar agreements. Valley is party to master netting arrangements with its financial institution counterparties; however, Valley does not offset assets and liabilities under these arrangements for financial statement presentation purposes. The master netting arrangements provide for a single net settlement of all swap agreements, as well as collateral, in the event of default on, or termination of, any one contract. Collateral, usually in the form of cash or marketable investment securities, is posted by the counterparty with net liability positions in accordance with contract thresholds. Master repurchase agreements which include “right of set-off” provisions generally have a legally enforceable right to offset recognized amounts. In such cases, the collateral would be used to settle the fair value of the repurchase agreement should Valley be in default. 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, 2016 and 2015 . Gross Amounts Not Offset Gross Amounts Recognized Gross Amounts Offset Net Amounts Presented Financial Instruments Cash Collateral Net Amount (in thousands) December 31, 2016 Assets: Interest rate caps and swaps $ 26,087 $ — $ 26,087 $ (5,268 ) $ — $ 20,819 Liabilities: Interest rate caps and swaps $ 41,911 $ — $ 41,911 $ (5,268 ) $ (36,643 ) (1) $ — Repurchase agreements 165,000 — 165,000 — (165,000 ) (2) — Total $ 206,911 $ — $ 206,911 $ (5,268 ) $ (201,643 ) $ — December 31, 2015 Assets: Interest rate caps and swaps $ 33,570 $ — $ 33,570 $ (8,942 ) $ — $ 24,628 Liabilities: Interest rate caps and swaps $ 50,752 $ — $ 50,752 $ (8,942 ) $ (41,810 ) (1) $ — Repurchase agreements 475,000 — 475,000 — (475,000 ) (2) — Total $ 525,752 $ — $ 525,752 $ (8,942 ) $ (516,810 ) $ — (1) Represents the amount of collateral posted with counterparties that offsets net liabilities at December 31, 2016 and 2015 , respectively. Actual cash collateral posted with counterparties totaled $52.4 million and $53.0 million at December 31, 2016 and 2015 , respectively. (2) Represents the fair value of non-cash pledged investment securities.

Regulatory and Capital Requirem

Regulatory and Capital Requirements	12 Months Ended
	Dec. 31, 2016
Banking and Thrift [Abstract]
Regulatory and Capital Requirements	REGULATORY AND CAPITAL REQUIREMENTS (Note 17) Valley’s primary source of cash is dividends from the Bank. Valley National Bank, a national banking association, is subject to certain restrictions on the amount of dividends that it may declare without prior regulatory approval. In addition, the dividends declared cannot be in excess of the amount which would cause the subsidiary bank to fall below the minimum required for capital adequacy purposes. Valley and Valley National Bank are subject to the regulatory capital requirements administered by the Federal Reserve Bank and the OCC. Failure to meet minimum capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a direct significant impact on Valley’s consolidated financial statements. Under capital adequacy guidelines Valley and Valley National Bank must meet specific capital guidelines that involve quantitative measures of Valley’s assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Quantitative measures established by regulation to ensure capital adequacy require Valley and Valley National Bank to maintain minimum amounts and ratios of common equity Tier 1 capital, total and Tier 1 capital to risk-weighted assets, and Tier 1 capital to average assets, as defined in the regulations. Effective January 1, 2015, Valley implemented the Basel III regulatory capital framework and related Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”). Basel III final rules require a new common equity Tier 1 capital to risk-weighted assets ratio of 4.5 percent , Tier 1 capital to risk-weighted assets of 6.0 percent , ratio of total capital to risk-weighted assets of 8.0 percent , and minimum leverage ratio of 4.0 percent . The new rule changes included the implementation of a new capital conservation buffer that is added to the minimum requirements for capital adequacy purposes. The capital conservation buffer is subject to a three year phase-in period that started on January 1, 2016, at 0.625 percent of risk-weighted assets and increases each subsequent year by 0.625 percent until reaching its final level of 2.5 percent when fully phased-in on January 1, 2019. The final rule also revised the definition and calculation of Tier 1 capital, total capital and risk-weighted assets. As of December 31, 2016 and 2015 , Valley and Valley National Bank exceeded all capital adequacy requirements with the capital conservation buffer under the Basel III Capital Rules (see table below). The following table presents Valley’s and Valley National Bank’s actual capital positions and ratios under the Basel III risk-based capital guidelines at December 31, 2016 and 2015 : Actual Minimum Capital Requirements To Be Well Capitalized Under Prompt Corrective Action Provision Amount Ratio Amount Ratio Amount Ratio ($ in thousands) As of December 31, 2016 Total Risk-based Capital Valley $ 2,084,531 12.15 % $ 1,480,006 8.625 % N/A N/A Valley National Bank 2,023,857 11.82 1,476,767 8.625 $ 1,712,193 10.00 % Common Equity Tier 1 Capital Valley 1,590,825 9.27 879,424 5.125 N/A N/A Valley National Bank 1,807,201 10.55 877,499 5.125 1,112,926 6.50 Tier 1 Risk-based Capital Valley 1,698,767 9.90 1,136,816 6.625 N/A N/A Valley National Bank 1,807,201 10.55 1,134,328 6.625 1,369,755 8.00 Tier 1 Leverage Capital Valley 1,698,767 7.74 878,244 4.00 N/A N/A Valley National Bank 1,807,201 8.25 876,026 4.00 1,095,032 5.00 As of December 31, 2015 Total Risk-based Capital Valley $ 1,910,304 12.02 % $ 1,271,171 8.00 % N/A N/A Valley National Bank 1,826,420 11.53 1,266,942 8.00 $ 1,583,677 10.00 % Common Equity Tier 1 Capital Valley 1,431,973 9.01 715,034 4.50 N/A N/A Valley National Bank 1,618,053 10.22 712,655 4.50 1,029,390 6.50 Tier 1 Risk-based Capital Valley 1,543,937 9.72 953,378 6.00 N/A N/A Valley National Bank 1,618,053 10.22 950,206 6.00 1,266,942 8.00 Tier 1 Leverage Capital Valley 1,543,937 7.90 781,388 4.00 N/A N/A Valley National Bank 1,618,053 8.29 780,831 4.00 976,039 5.00

Common and Preferred Stock

Common and Preferred Stock	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Common and Preferred Stock	COMMON AND PREFERRED STOCK (Note 18) Common Stock Common Stock Issuance. In December 2016, Valley issued and sold 9.24 million of its common stock in a registered public offering. The net proceeds of the offering were $106.4 million and will be used to, among other things, support continued loan growth at the Bank. Dividend Reinvestment Plan. Valley may issue up to 10.0 million authorized and previously unissued or treasury shares of Valley common stock for purchases under Valley’s dividend reinvestment plan (DRIP). Under the DRIP, a shareholder may choose to have future cash dividends automatically invested in Valley common stock and make voluntary optional cash payments of up to $100 thousand per quarter to purchase shares of Valley common stock. Shares purchased under this plan will be issued directly from Valley or in open market transactions. During 2016 , 2015 and 2014 , 554 thousand , 713 thousand , and 499 thousand of common shares, respectively, were reissued from treasury stock or issued from authorized common shares under the DRIP for net proceeds totaling $5.2 million , $7.0 million and $5.0 million , respectively. Common Stock Warrants. On January 1, 2012, Valley assumed in the acquisition of State Bancorp, Inc. a warrant issued (in connection with State Bancorp's redeemed preferred stock issuance) to the U.S. Treasury in December 2008. The ten -year warrant to purchase up to 489 thousand of Valley common shares has an exercise price of $11.30 per share, and is exercisable on a net exercise basis. During May 2015, the U.S. Treasury sold the warrant shares individually through a public action, in which Valley did not receive any of the proceeds. All of the warrants, which will expire on December 5, 2018, remained outstanding and unexercised at December 31, 2016 . In connection with the issuance of senior preferred shares in 2008 under the TARP program, Valley issued to the U.S. Treasury a ten -year warrant to purchase up to approximately $2.5 million of Valley common shares. During 2010, the U.S. Treasury sold the warrant shares individually through a public auction, in which Valley did not receive any of the proceeds. The warrants are currently traded on the New York Stock Exchange under the ticker symbol “VLY WS”. Each warrant entitles the holder to purchase approximately 1.103 Valley common shares at $16.12 per share and is exercisable through the expiration date of November 14, 2018. Repurchase Plan. In 2007, Valley’s Board of Directors approved the repurchase of up to $4.7 million of common shares. Purchases of Valley’s common shares may be made from time to time in the open market or in privately negotiated transactions generally not exceeding prevailing market prices. Repurchased shares are held in treasury and are expected to be used for general corporate purposes or issued under the dividend reinvestment plan. Under the repurchase plan, Valley made no purchases of its outstanding shares during the years ended December 31, 2016 , 2015 and 2014 . Other Stock Repurchases. Valley also purchases shares directly from its employees in connection with employee elections to withhold taxes related to the vesting of stock awards, including vested stock options exchanged for Valley common stock in the CNL acquisition. During the years ended December 31, 2016 , 2015 and 2014 , Valley purchased approximately 328 thousand , 387 thousand and 174 thousand shares, respectively, of its outstanding common stock at an average price of $9.73 , $9.95 and $9.68 , respectively, for such purpose. Preferred Stock On June 19, 2015, Valley issued 4.6 million shares of its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A, no par value per share, with a liquidation preference of $25 per share. Dividends on the preferred stock accrue and are payable quarterly in arrears, at a fixed rate per annum equal to 6.25 percent from the original issue date to, but excluding, June 30, 2025, and thereafter at a floating rate per annum equal to three-month LIBOR plus a spread of 3.85 percent . The net proceeds from the preferred stock offering totaled approximately $111.6 million . The preferred stock is included in Valley's Tier 1 capital and total risk-based capital at December 31, 2016 and 2015 .

Other Comprehensive Income

Other Comprehensive Income	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Other Comprehensive Income	OTHER COMPREHENSIVE INCOME (Note 19) The following table presents the tax effects allocated to each component of other comprehensive income (loss) for the years ended December 31, 2016 , 2015 and 2014 . Components of other comprehensive income (loss) include changes in net unrealized gains and losses on securities available for sale (including the non-credit portion of other-than-temporary impairment charges relating to certain securities during the period); unrealized gains and losses on derivatives used in cash flow hedging relationships; and the pension benefit adjustment for the unfunded portion of various employee, officer and director pension plans. 2016 2015 2014 Before Tax Tax Effect After Tax Before Tax Tax Effect After Tax Before Tax Tax Effect After Tax (in thousands) Unrealized gains and losses on available for sale (AFS) securities Net (losses) gains arising during the period $ (7,294 ) $ 3,001 $ (4,293 ) $ (3,458 ) $ 1,458 $ (2,000 ) $ 33,329 $ (13,931 ) $ 19,398 Less reclassification adjustment for net gains included in net income (1) (777 ) 312 (465 ) (2,487 ) 1,041 (1,446 ) (745 ) 312 (433 ) Net change (8,071 ) 3,313 (4,758 ) (5,945 ) 2,499 (3,446 ) 32,584 (13,619 ) 18,965 Non-credit impairment losses on securities available for sale and held to maturity Net change in non-credit impairment losses on securities 719 (302 ) 417 (416 ) 175 (241 ) 2,299 (965 ) 1,334 Less reclassification adjustment for accretion of credit impairment losses included in net income (2) (921 ) 382 (539 ) (728 ) 304 (424 ) (661 ) 278 (383 ) Net change (202 ) 80 (122 ) (1,144 ) 479 (665 ) 1,638 (687 ) 951 Unrealized gains and losses on derivatives (cash flow hedges) Net (losses) gains arising during the period (4,035 ) 1,574 (2,461 ) (12,360 ) 5,121 (7,239 ) (20,910 ) 8,763 (12,147 ) Less reclassification adjustment for net losses included in net income (3) 13,034 (5,393 ) 7,641 7,075 (2,948 ) 4,127 6,663 (2,777 ) 3,886 Net change 8,999 (3,819 ) 5,180 (5,285 ) 2,173 (3,112 ) (14,247 ) 5,986 (8,261 ) Defined benefit pension plan Net gains (losses) arising during the period 5,837 (2,539 ) 3,298 6,030 (2,586 ) 3,444 (27,902 ) 11,695 (16,207 ) Amortization of prior service cost (4) (300 ) 119 (181 ) 206 (89 ) 117 305 (128 ) 177 Amortization of net loss (4) 294 (109 ) 185 790 (328 ) 462 226 (94 ) 132 Net change 5,831 (2,529 ) 3,302 7,026 (3,003 ) 4,023 (27,371 ) 11,473 (15,898 ) Total other comprehensive income (loss) $ 6,557 $ (2,955 ) $ 3,602 $ (5,348 ) $ 2,148 $ (3,200 ) $ (7,396 ) $ 3,153 $ (4,243 ) (1) Included in gains on securities transactions, net. (2) Included in interest and dividends on investment securities (taxable). (3) Included in interest expense. (4) Included in the computation of net periodic pension cost. See Note 12 for details. The following table presents the after-tax changes in the balances of each component of accumulated other comprehensive loss for the years ended December 31, 2016 , 2015 and 2014 : Components of Accumulated Other Comprehensive Loss Total Accumulated Other Comprehensive Loss Unrealized Gains and Losses on AFS Securities Non-credit Impairment Losses on Securities Unrealized Gains and Losses on Derivatives Defined Benefit Pension Plan (in thousands) Balance-December 31, 2013 $ (20,855 ) $ (806 ) $ (6,271 ) $ (10,320 ) $ (38,252 ) Other comprehensive income (loss) before reclassifications 19,398 1,334 (12,147 ) (16,207 ) (7,622 ) Amounts reclassified from other comprehensive income (loss) (433 ) (383 ) 3,886 309 3,379 Other comprehensive income (loss), net 18,965 951 (8,261 ) (15,898 ) (4,243 ) Balance-December 31, 2014 (1,890 ) 145 (14,532 ) (26,218 ) (42,495 ) Other comprehensive (loss) income before reclassifications (2,000 ) (241 ) (7,239 ) 3,444 (6,036 ) Amounts reclassified from other comprehensive (loss) income (1,446 ) (424 ) 4,127 579 2,836 Other comprehensive (loss) income, net (3,446 ) (665 ) (3,112 ) 4,023 (3,200 ) Balance-December 31, 2015 (5,336 ) (520 ) (17,644 ) (22,195 ) (45,695 ) Other comprehensive (loss) income before reclassifications (4,293 ) 417 (2,461 ) 3,298 (3,039 ) Amounts reclassified from other comprehensive (loss) income (465 ) (539 ) 7,641 4 6,641 Other comprehensive (loss) income, net (4,758 ) (122 ) 5,180 3,302 3,602 Balance-December 31, 2016 $ (10,094 ) $ (642 ) $ (12,464 ) $ (18,893 ) $ (42,093 )

Quarterly Financial Data

Quarterly Financial Data	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Data	QUARTERLY FINANCIAL DATA (UNAUDITED) (Note 20) Quarters Ended 2016 March 31 June 30 September 30 December 31 (in thousands, except for share data) Interest income $ 185,597 $ 189,028 $ 191,203 $ 201,095 Interest expense 37,444 37,573 37,057 36,700 Net interest income 148,153 151,455 154,146 164,395 Provision for credit losses 800 1,429 5,840 3,800 Non-interest income: Gains on sales of loans, net 1,795 3,105 4,823 12,307 Other non-interest income 19,653 21,159 20,030 20,353 Non-interest expense: Loss on extinguishment of debt — 315 — — Amortization of tax credit investments 7,264 7,646 6,450 13,384 Other non-interest expense 110,961 111,842 106,818 111,445 Income before income taxes 50,576 54,487 59,891 68,426 Income tax expense 14,389 15,460 17,049 18,336 Net income 36,187 39,027 42,842 50,090 Dividend on preferred stock 1,797 1,797 1,797 1,797 Net income available to common shareholders 34,390 37,230 41,045 48,293 Earnings per common share: Basic $ 0.14 $ 0.15 $ 0.16 $ 0.19 Diluted 0.14 0.15 $ 0.16 0.19 Cash dividends declared per common share 0.11 0.11 0.11 0.11 Weighted average number of common shares outstanding: Basic 254,075,349 254,381,170 254,473,994 256,422,437 Diluted 254,347,420 254,771,213 254,940,307 256,952,036 Quarters Ended 2015 March 31 June 30 September 30 December 31 (in thousands, except for share data) Interest income $ 170,985 $ 175,754 $ 174,690 $ 185,594 Interest expense 38,899 39,577 40,730 37,548 Net interest income 132,086 136,177 133,960 148,046 Provision for credit losses — 4,500 94 3,507 Non-interest income: Gains on sales of loans, net 598 422 2,014 1,211 Other non-interest income 18,047 19,778 18,905 22,827 Non-interest expense: Loss on extinguishment of debt — — — 51,129 Amortization of tax credit investments 4,496 4,511 5,224 13,081 Other non-interest expense 103,622 102,901 103,428 110,683 Income before income taxes 42,613 44,465 46,133 (6,316 ) Income tax expense 12,272 12,474 10,179 (10,987 ) Net income 30,341 31,991 35,954 4,671 Dividend on preferred stock — — 2,017 1,796 Net income available to common shareholders 30,341 31,991 33,937 2,875 Earnings per common share: Basic $ 0.13 $ 0.14 $ 0.15 $ 0.01 Diluted 0.13 0.14 0.15 0.01 Cash dividends declared per common share 0.11 0.11 0.11 0.11 Weighted average number of common shares outstanding: Basic 232,338,775 232,565,404 232,737,953 239,916,562 Diluted 232,341,921 232,586,616 232,780,219 239,972,546

Parent Company Information

Parent Company Information	12 Months Ended
	Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Parent Company Information	PARENT COMPANY INFORMATION (Note 21) Condensed Statements of Financial Condition December 31, 2016 2015 (in thousands) Assets Cash $ 68,927 $ 63,330 Interest bearing deposits with banks 82 135 Investment securities available for sale 239 806 Investments in and receivables due from subsidiaries 2,591,982 2,398,784 Other assets 36,188 61,365 Total Assets $ 2,697,418 $ 2,524,420 Liabilities and Shareholders’ Equity Dividends payable to shareholders $ 29,477 $ 28,054 Long-term borrowings 236,731 230,573 Junior subordinated debentures issued to capital trusts 41,577 41,414 Accrued expenses and other liabilities 12,477 17,288 Shareholders’ equity 2,377,156 2,207,091 Total Liabilities and Shareholders’ Equity $ 2,697,418 $ 2,524,420 Condensed Statements of Income Years Ended December 31, 2016 2015 2014 (in thousands) Income Dividends from subsidiary $ 90,000 $ 110,000 $ 110,000 Income from subsidiary 4,550 2,363 — Gains on securities transactions, net 239 — — Other interest and income 34 211 436 Total Income 94,823 112,574 110,436 Total Expenses 33,604 20,578 11,172 Income before income tax benefit and equity in undistributed (losses) earnings of subsidiary 61,219 91,996 99,264 Income tax benefit (23,349 ) (21,939 ) (3,245 ) Income before equity in undistributed earnings (losses) of subsidiary 84,568 113,935 102,509 Equity in undistributed earnings (losses) of subsidiary 83,578 (10,978 ) 13,663 Net Income 168,146 102,957 116,172 Dividends on preferred stock 7,188 3,813 — Net Income Available to Common Shareholders $ 160,958 $ 99,144 $ 116,172 Condensed Statements of Cash Flows Years Ended December 31, 2016 2015 2014 (in thousands) Cash flows from operating activities: Net Income $ 168,146 $ 102,957 $ 116,172 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed (earnings) losses of subsidiary (83,578 ) 10,978 (13,663 ) Depreciation and amortization — — 18 Stock-based compensation 10,032 7,575 7,489 Net amortization of premiums and accretion of discounts on securities 163 162 163 Gains on securities transactions, net (239 ) — — Net change in: Other assets 8,007 (41,452 ) 6,632 Accrued expenses and other liabilities 18,381 9,604 (1,851 ) Net cash provided by operating activities 120,912 89,824 114,960 Cash flows from investing activities: Investment securities available for sale: Sales 739 49 46 Purchases — — (500 ) Cash and cash equivalents acquired in acquisitions — 109 14,776 Capital contributions to subsidiary (106,000 ) (115,000 ) — Subordinated debt issued by subsidiary — (100,000 ) — Net cash (used in) provided by investing activities (105,261 ) (214,842 ) 14,322 Cash flows from financing activities: Proceeds from issuance of long-term borrowings, net — 98,897 — Proceeds from issuance of preferred stock, net — 111,590 — Dividends paid to preferred shareholders (7,188 ) (3,813 ) — Dividends paid to common shareholders (111,813 ) (102,279 ) (88,119 ) Purchase of common shares to treasury (3,191 ) (2,108 ) (1,688 ) Common stock issued, net 112,085 7,898 5,096 Net cash (used in) provided by financing activities (10,107 ) 110,185 (84,711 ) Net change in cash and cash equivalents 5,544 (14,833 ) 44,571 Cash and cash equivalents at beginning of year 63,465 78,298 33,727 Cash and cash equivalents at end of year $ 69,009 $ 63,465 $ 78,298

Business Segments

Business Segments	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Business Segments	BUSINESS SEGMENTS (Note 22) Valley has four business segments that it monitors and reports on to manage Valley’s business operations. These segments are consumer lending, commercial lending, investment management, and corporate and other adjustments. Valley’s reportable segments have been determined based upon its internal structure of operations and lines of business. Each business segment is reviewed routinely for its asset growth, contribution to income before income taxes and return on average interest earning assets and impairment (if events or circumstances indicate a possible inability to realize the carrying amount). Expenses related to the branch network, all other components of retail banking, along with the back office departments of our subsidiary bank are allocated from the corporate and other adjustments segment to each of the other three business segments. Interest expense and internal transfer expense (for general corporate expenses) are allocated to each business segment utilizing a “pool funding” methodology, which involves the allocation of uniform funding cost based on each segments’ average earning assets outstanding for the period. The financial reporting for each segment contains allocations and reporting in line with Valley’s operations, which may not necessarily be comparable to any other financial institution. The accounting for each segment includes internal accounting policies designed to measure consistent and reasonable financial reporting, and may result in income and expense measurements that differ from amounts under U.S. GAAP. Furthermore, changes in management structure or allocation methodologies and procedures may result in changes in reported segment financial data. The consumer lending segment is mainly comprised of residential mortgages, home equity loans and automobile loans. The duration of the residential mortgage loan portfolio is subject to movements in the market level of interest rates and forecasted prepayment speeds. The average weighted life of the automobile loans within the portfolio is relatively unaffected by movements in the market level of interest rates. However, the average life may be impacted by new loans as a result of the availability of credit within the automobile marketplace and consumer demand for purchasing new or used automobiles. Consumer lending segment also includes the Wealth Management Division, comprised of trust, asset management, insurance services, and asset-based lending support services. The commercial lending segment is mainly comprised of floating rate and adjustable rate commercial and industrial loans, as well as fixed rate owner occupied and commercial real estate loans. Due to the portfolio’s interest rate characteristics, commercial lending is Valley’s business segment that is most sensitive to movements in market interest rates. The investment management segment generates a large portion of Valley’s income through investments in various types of securities. These securities are mainly comprised of fixed rate investments and depending on our liquid cash position, federal funds sold and interest-bearing deposits with banks (primarily the Federal Reserve Bank of New York), as part of our asset/liability management strategies. The fixed rate investments are one of Valley’s assets that are least sensitive assets to immediate changes in market interest rates. However, a portion of the investment portfolio is invested in shorter-duration securities to maintain the overall asset sensitivity of Valley’s balance sheet. The amounts disclosed as “corporate and other adjustments” represent income and expense items not directly attributable to a specific segment, including net gains and losses on securities not reported in the investment management segment above, interest expense related to subordinated notes and income and expen se from derivative financial instruments. The following tables represent the financial data for Valley’s four business segments for the years ended December 31, 2016 , 2015 and 2014 : Year Ended December 31, 2016 Consumer Lending Commercial Lending Investment Management Corporate and Other Adjustments Total ($ in thousands) Average interest earning assets (unaudited) $ 5,081,798 $ 11,318,947 $ 3,428,567 $ — $ 19,829,312 Interest income $ 176,929 $ 509,376 $ 89,378 $ (8,760 ) $ 766,923 Interest expense 35,175 78,347 23,732 11,520 148,774 Net interest income (loss) 141,754 431,029 65,646 (20,280 ) 618,149 Provision for credit losses 905 10,964 — — 11,869 Net interest income (loss) after provision for credit losses 140,849 420,065 65,646 (20,280 ) 606,280 Non-interest income 63,443 3,292 6,694 29,796 103,225 Non-interest expense 62,721 70,145 1,281 341,978 476,125 Internal expense transfer 71,578 160,198 48,475 (280,251 ) — Income (loss) before income taxes $ 69,993 $ 193,014 $ 22,584 $ (52,211 ) $ 233,380 Return on average interest earning assets (pre-tax) (unaudited) 1.38 % 1.71 % 0.66 % N/A 1.18 % Year Ended December 31, 2015 Consumer Lending Commercial Lending Investment Management Corporate and Other Adjustments Total ($ in thousands) Average interest earning assets (unaudited) $ 4,764,306 $ 9,682,714 $ 2,978,484 $ — $ 17,425,504 Interest income $ 170,569 $ 463,062 $ 81,669 $ (8,277 ) $ 707,023 Interest expense 39,787 80,861 24,873 11,233 156,754 Net interest income (loss) 130,782 382,201 56,796 (19,510 ) 550,269 Provision for credit losses 1,153 6,948 — — 8,101 Net interest income (loss) after provision for credit losses 129,629 375,253 56,796 (19,510 ) 542,168 Non-interest income 45,306 744 6,815 30,937 83,802 Non-interest expense 59,794 68,156 1,074 370,051 499,075 Internal expense transfer 72,441 146,463 45,460 (264,364 ) — Income (loss) before income taxes $ 42,700 $ 161,378 $ 17,077 $ (94,260 ) $ 126,895 Return on average interest earning assets (pre-tax) (unaudited) 0.90 % 1.67 % 0.57 % N/A 0.73 % Year Ended December 31, 2014 Consumer Lending Commercial Lending Investment Management Corporate and Other Adjustments Total ($ in thousands) Average interest earning assets (unaudited) $ 4,122,468 $ 7,959,215 $ 2,959,100 $ — $ 15,040,783 Interest income $ 154,078 $ 399,192 $ 91,689 $ (8,356 ) $ 636,603 Interest expense 41,343 79,820 29,676 11,007 161,846 Net interest income (loss) 112,735 319,372 62,013 (19,363 ) 474,757 Provision for credit losses 438 1,446 — — 1,884 Net interest income (loss) after provision for credit losses 112,297 317,926 62,013 (19,363 ) 472,873 Non-interest income 40,611 (19,624 ) 6,392 50,237 77,616 Non-interest expense 59,051 58,142 1,369 284,693 403,255 Internal expense transfer 65,477 126,465 47,060 (239,002 ) — Income (loss) before income taxes $ 28,380 $ 113,695 $ 19,976 $ (14,817 ) $ 147,234 Return on average interest earning assets (pre-tax) (unaudited) 0.69 % 1.43 % 0.68 % N/A 0.98 %

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Business	Business Valley National Bancorp, a New Jersey Corporation (Valley), is a bank holding company whose principal wholly-owned subsidiary is Valley National Bank (the “Bank”), a national banking association providing a full range of commercial, retail and trust and investment services largely through its offices and ATM network throughout northern and central New Jersey, the New York City boroughs of Manhattan, Brooklyn and Queens, Long Island, and Florida. The Bank is subject to intense competition from other financial services companies and is subject to the regulation of certain federal and state agencies and undergoes periodic examinations by certain regulatory authorities. Valley National Bank’s subsidiaries are all included in the consolidated financial statements of Valley. These subsidiaries include, but are not limited to: • an all-line insurance agency offering property and casualty, life and health insurance; • an asset management adviser that is a registered investment adviser with Securities and Exchange Commission (SEC); • title insurance agencies in New Jersey, New York and Florida; • subsidiaries which hold, maintain and manage investment assets for the Bank; • a subsidiary which owns and services auto loans; • a subsidiary which specializes in health care equipment lending and other commercial equipment leases; and • a subsidiary which owns and services New York commercial loans. The Bank’s subsidiaries also include real estate investment trust subsidiaries (the “REIT” subsidiaries) which own real estate related investments and a REIT subsidiary which owns some of the real estate utilized by the Bank and related real estate investments. Except for Valley’s REIT subsidiaries, all subsidiaries mentioned above are directly or indirectly wholly-owned by the Bank. Because each REIT subsidiary must have 100 or more shareholders to qualify as a REIT, each REIT subsidiary has issued less than 20 percent of its outstanding non-voting preferred stock to individuals, most of whom are non-senior management Bank employees. The Bank owns the remaining preferred stock and all the common stock of the REITs.
Basis of Presentation	Basis of Presentation The consolidated financial statements of Valley include the accounts of its commercial bank subsidiary, Valley National Bank and all of Valley’s direct or indirect wholly-owned subsidiaries. All inter-company transactions and balances have been eliminated. The accounting and reporting policies of Valley conform to U.S. generally accepted accounting principles (U.S. GAAP) and general practices within the financial services industry. In accordance with applicable accounting standards, Valley does not consolidate statutory trusts established for the sole purpose of issuing trust preferred securities and related trust common securities. See Note 11 for more details. Certain prior period amounts have been reclassified to conform to the current presentation. In preparing the consolidated financial statements in conformity with U.S. GAAP, management has made estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated statements of financial condition and results of operations for the periods indicated. Material estimates that are particularly susceptible to change are: the allowance for loan losses; the evaluation of goodwill and other intangible assets, and investment securities for impairment; fair value measurements of assets and liabilities; and income taxes. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the consolidated financial statements in the period they are deemed necessary. While management uses its best judgment, actual amounts or results could differ significantly from those estimates. The current economic environment has increased the degree of uncertainty inherent in these material estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, interest bearing deposits in other banks (including the Federal Reserve Bank of New York) and, from time to time, overnight federal funds sold. The Bank is required to maintain reserve balances in cash or on deposit with the Federal Reserve Bank based on a percentage of deposits.
Investment Securities	Investment Securities At the time of purchase, management generally elects to classify investment securities into one of two categories: held to maturity or available for sale. Investment securities are classified as held to maturity and carried at amortized cost when management has the positive intent and ability to hold to maturity. Investment securities to be held for indefinite periods are classified as available for sale and carried at fair value, with unrealized holding gains and losses reported as a component of other comprehensive income or loss, net of tax. Realized gains or losses on the sale of available for sale are recognized by the specific identification method and are included in net gains on securities transactions. Investments in Federal Home Loan Bank and Federal Reserve Bank stock, which have limited marketability, are carried at cost in other assets. Quarterly, Valley evaluates its investment securities classified as held to maturity and available for sale for other-than-temporary impairment. Other-than-temporary impairment means Valley believes the security’s impairment is due to factors that could include the issuer’s inability to pay interest or dividends, the potential for default, and/or other factors. When a held to maturity or available for sale debt security is assessed for other-than-temporary impairment, Valley has to first consider (a) whether it intends to sell the security, and (b) whether it is more likely than not that Valley will be required to sell the security prior to recovery of its amortized cost basis. If neither of these circumstances applies to a security, but Valley does not expect to recover the entire amortized cost basis, an other-than-temporary impairment loss has occurred that must be separated into two categories: (a) the amount related to credit loss, and (b) the amount related to other factors. In assessing the level of other-than-temporary impairment attributable to credit loss, Valley compares the present value of cash flows expected to be collected with the amortized cost basis of the security. The portion of the total other-than-temporary impairment related to credit loss is recognized in earnings, while the portion related to other factors is recognized in other comprehensive income or loss. The total other-than-temporary impairment loss is presented in the statement of income, less the portion recognized in other comprehensive income or loss. When a debt security becomes other-than-temporarily impaired, its amortized cost basis is reduced to reflect the portion of the total impairment related to credit loss. There was no other-than-temporary impairment recognized in earnings as a result of Valley's impairment analysis of its securities during 2016 , 2015 and 2014 . To determine whether a security’s impairment is other-than-temporary, Valley considers factors that include, among others, the causes of the decline in fair value, such as credit problems, interest rate fluctuations, or market volatility; the severity and duration of the decline; Valley’s ability and intent to hold equity security investments until they recover in value (as well as the likelihood of such a recovery in the near term); Valley’s intent to sell security investments; and whether it is more likely than not that Valley will be required to sell such securities before recovery of their individual amortized cost basis. For debt securities, the primary consideration in determining whether impairment is other-than-temporary is whether or not it is probable that current and/or future contractual cash flows have been or may be impaired. See the “Other-Than-Temporary Impairment Analysis” section of Note 4 for further discussion. Interest income on investments includes amortization of purchase premiums and discounts. Realized gains and losses are derived based on the amortized cost of the security sold. Valley discontinues the recognition of interest on debt securities if the securities meet both of the following criteria: (i) regularly scheduled interest payments have not been paid or have been deferred by the issuer, and (ii) full collection of all contractual principal and interest payments is not deemed to be the most likely outcome, resulting in the recognition of other-than-temporary impairment of the security.
Loans Held for Sale	Loans Held for Sale Loans held for sale generally consist of conforming residential mortgage loans originated and intended for sale in the secondary market and are carried at their estimated fair value on an instrument-by-instrument basis as permitted by the fair value option election under U.S. GAAP. Changes in fair value are recognized in non-interest income in the accompanying consolidated statements of income as a component of net gains on sales of loans. Origination fees and costs related to loans held for sale are recognized as earned and as incurred. Loans held for sale are generally sold with loan servicing rights retained by Valley. Gains recognized on loan sales include the value assigned to the rights to service the loan. See “Loan Servicing Rights” section below.
Loans and Loan Fees	Loans and Loan Fees Loans are reported at their outstanding principal balance net of any unearned income, charge-offs, unamortized deferred fees and costs on originated loans and premium or discounts on purchased loans, except for purchased credit-impaired loans. Loan origination and commitment fees, net of related costs are deferred and amortized as an adjustment of loan yield over the estimated life of the loans approximating the effective interest method. Loans are deemed to be past due when the contractually required principal and interest payments have not been received as they become due. Loans are placed on non-accrual status generally, when they become 90 days past due and the full and timely collection of principal and interest becomes uncertain. When a loan is placed on non-accrual status, interest accruals cease and uncollected accrued interest is reversed and charged against current income. Payments received on non-accrual loans are generally applied against principal. A loan in which the borrowers’ obligation has not been released in bankruptcy courts may be restored to an accruing basis when it becomes well secured and is in the process of collection, or all past due amounts become current under the loan agreement and collectability is no longer doubtful.
Purchased Credit-Impaired Loans (Including Covered Loans)	Purchased Credit-Impaired Loans (Including Covered Loans) Purchased credit-impaired (PCI) loans are loans acquired at a discount (that is due, in part, to credit quality). Valley's PCI loan portfolio primarily consists of loans acquired in business combinations subsequent to 2011 and (covered) loans in which the Bank will share losses with the FDIC under loss-sharing agreements that have resulted from past FDIC-assisted transactions by Valley and acquired from 1st United Bancorp, Inc. (1st United) in 2014. The PCI loans are initially recorded at fair value (as determined by the present value of expected future cash flows) with no allowance for loan losses. Interest income on PCI loans has been accounted for based on the acquired loans’ expected cash flows. The PCI loans may be aggregated and accounted for as a pool of loans if the loans being aggregated have common risk characteristics. A pool is accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flow. The difference between the undiscounted cash flows expected at acquisition and the investment in the loans, or the “accretable yield,” is recognized as interest income utilizing the level-yield method over the life of each pool. Contractually required payments for interest and principal that exceed the undiscounted cash flows expected at acquisition, or the “nonaccretable difference,” are not recognized as a yield adjustment or as a loss accrual or an allowance for loan losses. Increases in expected cash flows subsequent to the acquisition are recognized prospectively through adjustment of the yield on the pool over its remaining life, while decreases in expected cash flows are recognized as impairment through a loss provision and an increase in the allowance for loan losses. Therefore, the allowance for loan losses on these impaired pools reflect only losses incurred after the acquisition (representing the present value of all cash flows that were expected at acquisition but currently are not expected to be received). Any allowance for loan losses related to covered PCI loans is determined without consideration of the amounts recoverable through the FDIC loss-share agreements (see “FDIC Loss-Share Receivable” below). Valley had no allowance reserves related to PCI loans at December 31, 2016 and 2015 . The Bank periodically evaluates the remaining contractual required payments due and estimates of cash flows expected to be collected for the underlying loans of each PCI loan pool. These evaluations, performed quarterly, require the continued use of key assumptions and estimates, similar to the initial estimate of fair value. Changes in the contractual required payments due and estimated cash flows expected to be collected may result in changes in the accretable yield and non-accretable difference or reclassifications between accretable yield and the non-accretable difference. For the pools with better than expected cash flows, the forecasted increase is recorded as an additional accretable yield that is recognized as a prospective increase to our interest income on loans and the FDIC loss-share receivable, if applicable, is prospectively reduced by the guaranteed portion of the additional cash flows expected to be received, with a corresponding reduction to non-interest income. See Note 5 for additional information. PCI loans that may have been classified as non-performing loans by an acquired bank are no longer classified as non-performing because these loans are accounted for on a pooled basis. Management’s judgment is required in classifying loans in pools as performing loans, and is dependent on having a reasonable expectation about the timing and amount of the pool cash flows to be collected, even if certain loans within the pool are contractually past due.
FDIC Loss-Share Receivable	FDIC Loss-Share Receivable Valley National Bank has several loss-share agreements with the FDIC (referred to as the “FDIC loss-share receivable” reported within other assets on Valley’s consolidated statements of financial condition) which relate to the LibertyPointe Bank and The Park Avenue Bank transactions entered into by Valley in 2010, as well as three prior FDIC-assisted transactions by 1st United (including Republic Federal Bank, The Bank of Miami and Old Harbor Bank) acquired by Valley in 2014. The FDIC loss-share receivable arising from the loss-share agreements is measured separately from the covered loan pools because the agreements are not contractually part of the covered loans and are not transferable should the Bank choose to dispose of the covered loans. At the date of acquisition, the FDIC loss-share receivable was measured at its fair value based on expected future cash flows covered by the loss share agreements. In addition, the asset is based on the credit adjustments estimated for each loan pool and the loss-share percentages. Our FDIC loss-share receivable totaled $7.2 million and $8.3 million at December 31, 2016 and 2015 , respectively. Although this asset represents a contractual receivable from the FDIC, there is no contractual interest rate associated with the asset. The difference between the present value and the undiscounted cash flow expected to be collected from the FDIC is accreted into non-interest income over the life of the FDIC loss-share receivable. Actual or expected losses in excess of the acquisition date estimates result in an increase in the FDIC loss-share receivable. Conversely, when actual or expected losses are less than the acquisition date estimates, the loss share receivable is decreased. This reduction is recognized prospectively over the shorter of (i) the estimated life of the respective pools of covered loans or (ii) the term of the loss-sharing agreements with the FDIC. The FDIC loss-share receivable is also reduced and increased as loss-sharing payments are received from and made to the FDIC. Effective January 1, 2015, the losses on commercial related loans (commercial and industrial loans and commercial real estate loans) from the Republic Federal Bank transaction ceased being covered under the loss-share agreement. Any recoveries, net of expenses, of losses incurred prior to January 1, 2015 on such loans will continue to be covered (and must be shared with the FDIC in accordance with the loss-share agreement) through December 31, 2017. The losses on consumer related loans (residential mortgage loans and consumer loans) continue to be covered under the loss-share agreement through December 31, 2019. Under the terms of this loss-sharing agreement with the FDIC, losses are shared on the acquired loan and other real estate owned portfolio between 80 percent and 95 percent based upon certain aggregate loss limits. Effective April 1, 2015, the losses on commercial related loans from the LibertyPointe Bank and The Park Avenue Bank transactions ceased to be covered under the loss-share agreements. Any recoveries, net of expenses, of losses incurred prior to April 1, 2015 on such loans will continue to be covered by the loss-sharing agreement through March 31, 2018. The losses on consumer related loans will continue to be covered under the loss-share agreements through March 31, 2020. Under the terms of the loss-sharing agreements for the LibertyPointe Bank and The Park Avenue Bank transaction, the FDIC is obligated to reimburse Valley for 80 percent and 95 percent , respectively, of any future losses on covered consumer loans up to certain aggregate loss limits. Effective January 1, 2016, the losses on commercial related loans from The Bank of Miami transaction ceased to be covered under the loss-share agreement. Any recoveries, net of expenses, of losses incurred prior to January 1, 2016 on such loans will continue to be covered through December 31, 2018. The losses on consumer related loans continue to be covered under the loss-share agreement through December 31, 2020. Under the terms of this loss-sharing agreement with the FDIC, losses are shared on the acquired loan and other real estate owned portfolio up to 80 percent of the covered assets acquired. Effective January 1, 2017, the losses on commercial related loans from the Old Harbor Bank transaction ceased to be covered under the loss-share agreement. Any recoveries, net of expenses, on losses incurred prior that date will be shared with the FDIC in accordance with the loss-share agreement through December 31, 2019. The losses on consumer related loans will continue to be covered under the loss-share agreement through October 31, 2021. Under the terms of this loss-sharing agreement with the FDIC, losses are shared on the acquired loans and other real estate owned portfolio up to 70 percent of those covered assets within certain aggregate loss limits.
Allowance for Credit Losses	Allowance for Credit Losses The allowance for credit losses (the “allowance”) is increased through provisions charged against current earnings and additionally by crediting amounts of recoveries received, if any, on previously charged-off loans. The allowance is reduced by charge-offs on loans or unfunded letters of credit which are determined to be a loss, in accordance with established policies, when all efforts of collection have been exhausted. The allowance is maintained at a level estimated to absorb probable credit losses inherent in the loan portfolio as well as other credit risk related charge-offs. The allowance is based on ongoing evaluations of the probable estimated losses inherent in the non-PCI loan portfolio and off-balance sheet unfunded letters of credit, as well as reserves for impairment of PCI loans subsequent to their acquisition date. As discussed under the “Purchased Credit-Impaired Loans” section above, Valley had no allowance reserves related to PCI loans at December 31, 2016 and 2015 . The Bank’s methodology for evaluating the appropriateness of the allowance includes grouping the non-covered loan portfolio into loan segments based on common risk characteristics, tracking the historical levels of classified loans and delinquencies, estimating the appropriate loss look-back and loss emergence periods related to historical losses for each loan segment, providing specific reserves on impaired loans, and assigning incremental reserves where necessary based upon qualitative and economic outlook factors including numerous variables, such as the nature and trends of recent loan charge-offs. Additionally, the volume of non-performing loans, concentration risks by size, type, and geography, new markets, collateral adequacy, credit policies and procedures, staffing, underwriting consistency, loan review and economic conditions are taken into consideration. The allowance for loan losses consists of four elements: (i) specific reserves for individually impaired credits, (ii) reserves for adversely classified, or higher risk rated, loans that are not impaired, (iii) reserves for other loans based on historical loss factors (using the appropriate loss look-back and loss emergence periods) adjusted for both internal and external qualitative risk factors to Valley, including the aforementioned factors, as well as changes in both organic and purchased loan portfolio volumes, the composition and concentrations of credit, new market initiatives, and the impact of competition on loan structuring and pricing, and (iv) an allowance for PCI loan pools impaired subsequent to the acquisition date, if applicable. The Credit Risk Management Department individually evaluates non-accrual (non-homogeneous) commercial and industrial loans and commercial real estate loans over $250 thousand and all troubled debt restructured loans. The value of an impaired loan is measured based upon the underlying anticipated method of payment consisting of either the present value of expected future cash flows discounted at the loan’s effective interest rate, or the fair value of the collateral, if the loan is collateral dependent, and its payment is expected solely based on the underlying collateral. If the value of an impaired loan is less than its carrying amount, impairment is recognized through a provision to the allowance for loan losses. Collateral dependent impaired loan balances are written down to the estimated current fair value (less estimated selling costs) of each loan’s underlying collateral resulting in an immediate charge-off to the allowance, excluding any consideration for personal guarantees that may be pursued in the Bank’s collection process. If repayment is based upon future expected cash flows, the present value of the expected future cash flows discounted at the loan’s original effective interest rate is compared to the carrying value of the loan, and any shortfall is recorded as a specific valuation allowance in the allowance for loan losses. Accrual of interest is discontinued on an impaired loan when management believes, after considering collection efforts and other factors, the borrower’s financial condition is such that collection of interest is doubtful. Cash collections from non-accrual loans are generally credited to the loan balance, and no interest income is recognized on these loans until the principal balance has been determined to be fully collectible. Residential mortgage loans and consumer loans usually consist of smaller balance homogeneous loans that are collectively evaluated for impairment, and are specifically excluded from the impaired loan portfolio, except where the loan is classified as a troubled debt restructured loan. The allowances established for probable losses on specific loans are based on a regular analysis and evaluation of the loans. Loans are evaluated based on an internal credit risk rating system for the commercial and industrial loan and commercial real estate loan portfolio segments and non-performing loan status for the residential and consumer loan portfolio segments. Loans are risk-rated based on an internal credit risk grading process that evaluates, among other things: (i) the obligor’s ability to repay; (ii) the underlying collateral, if any; and (iii) the economic environment and industry in which the borrower operates. This analysis is performed at the relationship manager level for all commercial and industrial loans and commercial real estate loans, and evaluated by the Loan Review Department on a test basis. Loans with a grade that is below “Pass” grade are adversely classified. See Note 5 for details. Any change in the credit risk grade of adversely classified performing and/or non-performing loans affects the amount of the related allowance. Once a loan is adversely classified, the assigned relationship manager and/or a special assets officer in conjunction with the Credit Risk Management Department analyze the loan to determine whether the loan is impaired and, if impaired, the need to specifically assign a valuation allowance for loan losses to the loan. Specific valuation allowances are determined by analyzing the borrower’s ability to repay amounts owed, collateral deficiencies, the relative risk grade of the loan and economic conditions affecting the borrower’s industry, among other things. Loans identified as losses by management are charged-off. Commercial loans are generally assessed for full or partial charge-off to the net realizable value for collateral dependent loans when a loan is between 90 or 120 days past due or sooner if it is probable that a loan may not be fully collectable. Residential loans and home equity loans are generally charged-off to net realizable value when the loan is 120 days past due (or sooner when the borrowers’ obligation has been released in bankruptcy). Automobile loans are fully charged-off when the loan is 120 days past due or partially charged-off to the net realizable value of collateral, if the collateral is recovered prior to such time. Unsecured consumer loans are generally fully charged-off when the loan is 150 days past due. The allowance allocations for other loans (i.e., risk rated loans that are not adversely classified and loans that are not risk rated) are calculated by applying historical loss factors for each loan portfolio segment to the applicable outstanding loan portfolio balances. Loss factors are calculated using statistical analysis supplemented by management judgment. The statistical analysis considers historical default rates, historical loss severity in the event of default, and the average loss emergence period for each loan portfolio segment. The management analysis includes an evaluation of loan portfolio volumes, the composition and concentrations of credit, credit quality and current delinquency trends.
Premises and Equipment, Net	Premises and Equipment, Net Premises and equipment are stated at cost less accumulated depreciation computed using the straight-line method over the estimated useful lives of the related assets. Estimated useful lives range from 3 years for capitalized software to up to 40 years for buildings. Leasehold improvements are amortized over the term of the lease or estimated useful life of the asset, whichever is shorter. Major improvements are capitalized, while repairs and maintenance costs are charged to operations as incurred. Upon retirement or disposition, any gain or loss is credited or charged to operations.
Bank Owned Life Insurance	Bank Owned Life Insurance Valley owns bank owned life insurance (BOLI) to help offset the cost of employee benefits. BOLI is recorded at its cash surrender value. Valley’s BOLI is invested primarily in U.S. Treasury securities and residential mortgage-backed securities issued by government sponsored enterprises and Ginnie Mae. The majority of the underlying investment portfolio is managed by one independent investment firm. The change in the cash surrender value is included as a component of non-interest income and is exempt from federal and state income taxes as long as the policies are held until the death of the insured individuals.
Other Real Estate Owned	Other Real Estate Owned Valley acquires other real estate owned (OREO) through foreclosure on loans secured by real estate. OREO is reported at the lower of cost or fair value, as established by a current appraisal (less estimated costs to sell), and is included in other assets. Any write-downs at the date of foreclosure are charged to the allowance for loan losses. Expenses incurred to maintain these properties, unrealized losses resulting from valuation write-downs after the date of foreclosure, and realized gains and losses upon sale of the properties are included in other non-interest expense.
Goodwill	Goodwill Intangible assets resulting from acquisitions under the acquisition method of accounting consist of goodwill and other intangible assets (see “Other Intangible Assets” below). Goodwill is not amortized and is subject to an annual assessment for impairment. Currently, the goodwill impairment analysis is generally a two-step test. However, Valley may choose to perform an optional qualitative assessment to determine whether it is necessary to perform the two-step quantitative goodwill impairment test for one or more units in future periods. During 2016 and 2015 , Valley elected to perform step one of the two-step goodwill impairment test for all of its reporting units. Goodwill is allocated to Valley’s reporting unit, which is a business segment or one level below, at the date goodwill is actually recorded. If the carrying value of a reporting unit exceeds its estimated fair value, a second step in the analysis is performed to determine the amount of impairment, if any. The second step compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. If the carrying value of a reporting unit exceeds the implied fair value of the goodwill, an impairment charge is recorded equal to the excess amount in the current period earnings. Valley reviews goodwill annually or more frequently if a triggering event indicates impairment may have occurred, to determine potential impairment by determining if the fair value of the reporting unit has fallen below the carrying value.
Other Intangible Assets	Other Intangible Assets Other intangible assets primarily consist of loan servicing rights (largely generated from loan servicing retained by the Bank on residential mortgage loan originations sold in the secondary market to government sponsored enterprises), core deposits (the portion of an acquisition purchase price which represents value assigned to the existing deposit base), customer lists, and covenants not to compete obtained through acquisitions. Other intangible assets are amortized using various methods over their estimated lives and are periodically evaluated for impairment whenever events or changes in circumstances indicate the carrying amount of the assets may not be recoverable from future undiscounted cash flows. If impairment is deemed to exist, an adjustment is recorded to earnings in the current period for the difference between the fair value of the asset and its carrying amount. See further details regarding loan servicing rights below.
Loan Servicing Rights	Loan Servicing Rights Loan servicing rights are recorded when originated mortgage loans are sold with servicing rights retained, or when servicing rights are purchased. Valley initially records the loan servicing rights at fair value. Subsequently, the loan servicing rights are carried at the lower of unamortized cost or market (i.e., fair value). The fair values of the loan servicing rights are determined using a method which utilizes servicing income, discount rates, prepayment speeds and default rates specifically relative to Valley’s portfolio for originated mortgage servicing rights. The unamortized costs associated with acquiring loan servicing rights, net of any valuation allowances, are included in other intangible assets in the consolidated statements of financial condition and are accounted for using the amortization method. Under this method, Valley amortizes the loan servicing assets in proportion to and over the period of estimated net servicing revenues. On a quarterly basis, Valley stratifies its loan servicing assets into groupings based on risk characteristics and assesses each group for impairment based on fair value. A valuation allowance is established through an impairment charge to earnings to the extent the unamortized cost of a stratified group of loan servicing rights exceeds its estimated fair value. Increases in the fair value of impaired loan servicing rights are recognized as a reduction of the valuation allowance, but not in excess of such allowance. The amortization of loan servicing rights is recorded in non-interest income.
Stock-Based Compensation	Stock-Based Compensation Compensation expense for stock options and restricted stock awards (i.e., non-vested stock awards) is based on the fair value of the award on the date of the grant and is recognized ratably over the service period of the award. Under Valley’s long-term incentive compensation plans, award grantees that are eligible for retirement do not have a service period requirement. Compensation expense for these awards is recognized immediately in earnings. The service period for non-retirement eligible employees is the shorter of the stated vesting period of the award or the period until the employee’s retirement eligibility date. The fair value of each option granted is estimated using a binomial option pricing model. The fair value of restricted stock awards is based upon the last sale price reported for Valley’s common stock on the date of grant or the last sale price reported preceding such date, except for performance-based restricted stock and restricted stock unit awards with a market condition. The grant date fair value of a performance-based restricted stock or restrict stock unit award that vests based on a market condition is determined by a third party specialist using a Monte Carlo valuation model.
Fair Value Measurements	Fair Value Measurements In general, fair values of financial instruments are based upon quoted market prices, where available. When observable market prices and parameters are not fully available, management uses valuation techniques based upon internal and third party models requiring more management judgment to estimate the appropriate fair value measurements. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value, including adjustments based on internal cash flow model projections that utilize assumptions similar to those incorporated by market participants. Other adjustments may include amounts to reflect counterparty credit quality and Valley’s creditworthiness, among other things, as well as unobservable parameters. Any such valuation adjustments are applied consistently over time.
Income Taxes	Income Taxes Valley uses the asset and liability method to provide income taxes on all transactions recorded in the consolidated financial statements. This method requires that income taxes reflect the expected future tax consequences of temporary differences between the carrying amounts of assets or liabilities for book and tax purposes. Accordingly, a deferred tax asset or liability for each temporary difference is determined based on the enacted tax rates that will be in effect when the underlying items of income and expense are expected to be realized. Valley’s expense for income taxes includes the current and deferred portions of that expense. Deferred tax assets are recognized if, in management's judgment, their realizability is determined to be more likely than not. A valuation allowance is established to reduce deferred tax assets to the amount we expect to realize. Deferred income tax expense or benefit results from differences between assets and liabilities measured for financial reporting versus income-tax return purposes. The effect on deferred taxes of a change in tax rates is recognized in income tax expense in the period that includes the enactment date. Valley maintains a reserve related to certain tax positions that management believes contain an element of uncertainty. An uncertain tax position is measured based on the largest amount of benefit that management believes is more likely than not to be realized. Periodically, Valley evaluates each of its tax positions and strategies to determine whether the reserve continues to be appropriate. See Note 13 for further analysis of Valley’s accounting for income taxes.
Comprehensive Income	Comprehensive Income Comprehensive income or loss is defined as the change in equity of a business entity during a period due to transactions and other events and circumstances, excluding those resulting from investments by and distributions to shareholders. Comprehensive income consists of net income and other comprehensive income or loss. Valley’s components of other comprehensive income or loss, net of deferred tax, include: (i) unrealized gains and losses on securities available for sale (including the non-credit portion of other-than-temporary impairment charges relating to these securities); (ii) unrealized gains and losses on derivatives used in cash flow hedging relationships; and (iii) the pension benefit adjustment for the unfunded portion of its various employee, officer, and director pension plans. Valley presents comprehensive income and its components in the consolidated statements of comprehensive income for all periods presented.
Earnings Per Common Share	Common stock equivalents represent the dilutive effect of additional common shares issuable upon the assumed vesting or exercise, if applicable, of performance-based restricted stock units, common stock options and warrants to purchase Valley’s common shares. Common stock options and warrants with exercise prices that exceed the average market price of Valley’s common stock during the periods presented have an anti-dilutive effect on the diluted earnings per common share calculation and therefore are excluded from the diluted earnings per share calculation. Earnings Per Common Share In Valley's computation of the earnings per common share, the numerator of both the basic and diluted earnings per common share is net income available to common shareholders (which is equal to net income less dividends on preferred stock). The weighted average number of common shares outstanding used in the denominator for basic earnings per common share is increased to determine the denominator used for diluted earnings per common share by the effect of potentially dilutive common stock equivalents utilizing the treasury stock method.
Preferred and Common Stock Dividends	Preferred and Common Stock Dividends In June 2015, Valley issued 4.6 million shares of non-cumulative perpetual preferred stock which were initially recorded at fair value (see Note 18 for additional details on the preferred stock issuance). The preferred shares are senior to Valley common stock, whereas the current year dividends must be paid before Valley can pay dividends to its common stockholders. Preferred dividends declared are deducted from net income for computing income available to common stockholders and earnings per common share computations. Cash dividends to both preferred and common stockholders are payable and accrued when declared by Valley's Board of Directors
Treasury Stock	Treasury Stock Treasury stock is recorded using the cost method and accordingly is presented as a reduction of shareholders’ equity.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities As part of its asset/liability management strategies and to accommodate commercial borrowers, Valley has used interest rate swaps and caps to hedge variability in cash flows or fair values caused by changes in interest rates. Valley also uses derivatives not designated as hedges for non-speculative purposes to manage its exposure to interest rate movements related to a service for commercial lending customers, mortgage banking activities consisting of customer interest rate lock commitments and forward contracts to sell residential mortgage loans, and hybrid instruments, consisting of market linked certificates of deposit with an embedded swap contract. Derivatives used to hedge the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Derivatives used to hedge the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Valley records all derivatives as assets or liabilities at fair value on the consolidated statements of financial condition. For derivatives designated as cash flow hedges, the effective portion of changes in the fair value of the derivative is initially reported in other comprehensive income or loss and subsequently reclassified to earnings when the hedged transaction affects earnings, and the ineffective portion of changes in the fair value of the derivative is recognized directly in earnings. For derivatives designated as fair value hedges, changes in the fair value of the derivative and the hedged item related to the hedged risk are recognized in earnings. On a quarterly basis, Valley assesses the effectiveness of each hedging relationship by comparing the changes in cash flows or fair value of the derivative hedging instrument with the changes in cash flows or fair value of the designated hedged item or transaction. If a hedging relationship is terminated due to ineffectiveness, and the derivative instrument is not re-designated to a new hedging relationship, the subsequent change in fair value of such instrument is charged directly to earnings. Derivatives not designated as hedges do not meet the hedge accounting requirements under U.S. GAAP. Changes in fair value of derivatives not designated in hedging relationships are recorded directly in earnings. Valley made an accounting policy election to use the exception under the ASU No. 2011-04 and calculate the credit valuation adjustments to the fair value of derivatives on a net basis by counterparty portfolio. See Note 3 for additional information.
New Authoritative Accounting Guidance	New Authoritative Accounting Guidance Accounting Standards Update (ASU) No. 2017-04, "Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment" eliminates the requirement to calculate the implied fair value of goodwill (i.e., Step 2 of the current goodwill impairment test guidance) to measure a goodwill impairment charge. Instead, an entity will be required to record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value (i.e., measure the charge based on Step 1 of the current guidance). In addition, ASU No. 2017-04 eliminates the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment, and if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. However, an entity will be required to disclose the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount of net assets. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. ASU No. 2017-04 is effective for Valley for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019 and is not expected to have a significant impact on the presentation Valley's consolidated financial statements. Early adoption is permitted for annual and interim goodwill impairment testing dates after January 1, 2017. ASU No. 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments" clarifies on how certain cash receipts and cash payments should be classified and presented in the statement of cash flow. The ASU No. 2016-15 includes guidance on eight specific cash flow issues with the objective of reducing the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows . ASU No. 2016-15 is effective for Valley for fiscal years beginning after December 15, 2017 and it should be applied using a retrospective transition method to each period presented. ASU No. 2016-15 is not expected to have a significant impact on the presentation Valley's consolidated statements of cash flows. ASU No. 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" amends the accounting guidance on the impairment of financial instruments. The ASU No. 2016-13 adds to U.S. GAAP an impairment model (known as the current expected credit loss (CECL) model) that is based on expected losses rather than incurred losses. Under the new guidance, an entity is required to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. ASU No. 2016-13 is effective for Valley for reporting periods beginning January 1, 2020. Management is currently evaluating the impact of the ASU on Valley’s consolidated financial statements. Valley expects that the new guidance will result in an increase in its allowance for credit losses due to several factors, including: (i) the allowance related to Valley loans will increase to include credit losses over the full remaining expected life of the portfolio, and will consider expected future changes in macroeconomic conditions, (ii) the non-accretable difference (as defined in Note 5) on PCI loans will be recognized as an allowance, offset by an increase in the carrying value of the related loans, and (iii) an allowance will be established for estimated credit losses on investment securities classified as held to maturity. The extent of the increase is under evaluation, but will depend upon the nature and characteristics of the Valley's loan and investment portfolios at the adoption date, and the economic conditions and forecasts at that date. ASU No. 2016-09, "Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting" simplifies several aspects of the stock compensation guidance in Topic 718 and other related guidance. The amendments focus on income tax accounting upon vesting or exercise of share-based payments, award classification, liability classification exception for statutory tax withholding requirements, estimating forfeitures, and cash flow presentation. ASU No. 2016-09 is effective for Valley for annual periods beginning after December 15, 2017, and interim periods within annual periods beginning after December 15, 2018 with an early adoption permitted. ASU No. 2016-09 is not expected to have a significant impact on Valley's consolidated financial statements. ASU No. 2016-02, “Leases (Topic 842)” requires the recognition of a right of use asset and related lease liability by lessees for leases classified as operating leases under current GAAP. Topic 842, which replaces the current guidance under Topic 840, retains a distinction between finance leases and operating leases. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee also will not significantly change from current GAAP. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize right of use assets and lease liabilities. Topic 842 will be effective for Valley for reporting periods beginning January 1, 2019, with an early adoption permitted. Valley must apply a modified retrospective transition approach for the applicable leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Management is currently evaluating the impact of Topic 842 on Valley’s consolidated financial statements by reviewing its existing lease contracts and service contracts that may include embedded leases. Valley expects a gross-up of its consolidated statements of financial condition as a result of recognizing lease liabilities and right of use assets; the extent of such gross-up is under evaluation. Valley does not expect material changes to the recognition of operating lease expense in its consolidated statements of income. ASU No. 2016-01, “Financial Instruments - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities” requires that: (i) equity investments with readily determinable fair values must be measured at fair value with changes in fair value recognized in net income, (ii) equity investments without readily determinable fair values must be measured at either fair value or at cost adjusted for changes in observable prices minus impairment with changes in value under either of these methods recognized in net income, (iii) entities that record financial liabilities at fair value due to a fair value option election must recognize changes in fair value in other comprehensive income if it is related to instrument-specific credit risk, and (iv) entities must assess whether a valuation allowance is required for deferred tax assets related to available-for-sale debt securities. ASU No. 2016-01 is effective for Valley for reporting periods beginning January 1, 2018 and is not expected to have a material effect on Valley’s consolidated financial statements. ASU No. 2015-07, "Fair Value Measurement (Topic 820) - Disclosure for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent)", which removes the requirement to categorize within the fair value hierarchy all investments for which the fair value is measured using the net asset value per share practical expedient. ASU No. 2015-07 also removes the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the net asset value per share practical expedient. ASU No. 2015-07 became effective for Valley for reporting periods after January 1, 2016 and did not have an impact on Valley's fair value measurement disclosures at Note 6. ASU No. 2015-03, "Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs" requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in the ASU No. 2015-03. ASU No. 2015-03 is effective for reporting periods beginning January 1, 2016 (with early adoption permitted), and is to be applied retrospectively. At December 31, 2015, Valley early adopted ASU No. 2015-03 to reflect the reclassification of the debt issuance costs from other assets to long-term borrowings for all periods presented in our consolidated statements of financial condition. See Note 10 to the consolidated financial statements for more details. ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)" implements a common revenue standard that clarifies the principles for recognizing revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In 2016, the Financial Accounting Standards Board issued ASU No. 2016-08, “Revenue from Contracts with Customers (Topic 606) - Principal versus Agent Considerations (Reporting Revenue Gross versus Net)” and ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606) - Identifying Performance Obligations and Licensing,” to further clarify the new guidance under Topic 606. ASU No. 2014-09 and its aforementioned amendments are effective on January 1, 2018. Management is currently evaluating by identification of revenue within the scope of the guidance to assess potential impact. Management has not yet identified any material changes in the timing of revenue recognition and it does not expect the new revenue guidance to have a significant impact on Valley’s consolidated financial statements.

Summary of Significant Accoun31

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Calculation of Both Basic and Diluted Earnings Per Common Share	The following table shows the calculation of both basic and diluted earnings per common share for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 (in thousands, except for share data) Net income available to common shareholders $ 160,958 $ 99,144 $ 116,172 Basic weighted-average number of common shares outstanding 254,841,571 234,405,909 205,716,293 Plus: Common stock equivalents 426,765 31,091 — Diluted weighted-average number of common shares outstanding 255,268,336 234,437,000 205,716,293 Earnings per common share: Basic $ 0.63 $ 0.42 $ 0.56 Diluted 0.63 0.42 0.56

Fair Value Measurement of Ass32

Fair Value Measurement of Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring and Non-Recurring Basis	The following tables present the assets and liabilities that are measured at fair value on a recurring and non-recurring basis by level within the fair value hierarchy as reported on the consolidated statements of financial condition at December 31, 2016 and 2015 . The assets presented under “non-recurring fair value measurements” in the table below are not measured at fair value on an ongoing basis but are subject to fair value adjustments under certain circumstances (e.g., when an impairment loss is recognized). Fair Value Measurements at Reporting Date Using: December 31, Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in thousands) Recurring fair value measurements: Assets Investment securities: Available for sale: U.S. Treasury securities $ 49,591 $ 49,591 $ — $ — U.S. government agency securities 23,041 — 23,041 — Obligations of states and political subdivisions 119,767 — 119,767 — Residential mortgage-backed securities 1,015,542 — 1,005,589 9,953 Trust preferred securities 8,009 — 6,074 1,935 Corporate and other debt securities 60,565 8,064 52,501 — Equity securities 20,858 1,306 19,552 — Total available for sale 1,297,373 58,961 1,226,524 11,888 Loans held for sale (1) 57,708 — 57,708 — Other assets (2) 29,055 — 29,055 — Total assets $ 1,384,136 $ 58,961 $ 1,313,287 $ 11,888 Liabilities Other liabilities (2) $ 44,077 $ — $ 44,077 $ — Total liabilities $ 44,077 $ — $ 44,077 $ — Non-recurring fair value measurements: Collateral dependent impaired loans (3) $ 5,385 $ — $ — $ 5,385 Loan servicing rights 6,489 — — 6,489 Foreclosed assets (4) 4,532 — — 4,532 Total $ 16,406 $ — $ — $ 16,406 Fair Value Measurements at Reporting Date Using: December 31, Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in thousands) Recurring fair value measurements: Assets Investment securities: Available for sale: U.S. Treasury securities $ 549,473 $ 549,473 $ — $ — U.S. government agency securities 29,963 — 29,963 — Obligations of states and political subdivisions 124,966 — 124,966 — Residential mortgage-backed securities 696,428 — 684,777 11,651 Trust preferred securities 8,404 — 6,262 2,142 Corporate and other debt securities 77,552 17,710 59,842 — Equity securities 20,075 1,198 18,877 — Total available for sale 1,506,861 568,381 924,687 13,793 Loans held for sale (1) 16,382 — 16,382 — Other assets (2) 33,774 — 33,774 — Total assets $ 1,557,017 $ 568,381 $ 974,843 $ 13,793 Liabilities Other liabilities (2) $ 50,844 $ — $ 50,844 $ — Total liabilities $ 50,844 $ — $ 50,844 $ — Non-recurring fair value measurements: Collateral dependent impaired loans (3) $ 15,427 $ — $ — $ 15,427 Loan servicing rights 2,571 — — 2,571 Foreclosed assets (4) 16,672 — — 16,672 Total $ 34,670 $ — $ — $ 34,670 (1) Loans held for sale (which consist of residential mortgages) are carried at fair value and had contractual unpaid principal balances totaling approximately $58.2 million and $16.1 million at December 31, 2016 and 2015 , respectively. (2) Amount represents derivative financial instruments. (3) Excludes PCI loans. (4) Includes covered other real estate owned totaling $300 thousand and $4.2 million at December 31, 2016 and 2015 , respectively.
Changes in Level 3 Assets Measured at Fair Value on Recurring Basis	The changes in Level 3 assets measured at fair value on a recurring basis for the years ended December 31, 2016 , 2015 and 2014 are summarized below: Available For Sale Securities 2016 2015 2014 (in thousands) Balance, beginning of the period $ 13,793 $ 19,309 $ 28,523 Net (losses) gains included in other comprehensive income (203 ) (1,072 ) 1,648 Sales — (2,674 ) (7,718 ) Settlements, net (1,702 ) (1,770 ) (3,144 ) Balance, end of the period $ 11,888 $ 13,793 $ 19,309
Schedule of Quantitative Information about Level 3 Inputs Used to Measure Fair Value of Available for Sale Securities	The following table presents quantitative information about Level 3 inputs used to measure the fair value of these securities at December 31, 2016 : Security Type Valuation Technique Unobservable Input Range Weighted Average Private label mortgage-backed securities Discounted cash flow Prepayment rate 15.0 - 22.5% 19.1 % Default rate 3.6 - 33.2 9.0 Loss severity 45.6 - 66.0 60.0
Carrying Amounts and Estimated Fair Values of Financial Instruments	The carrying amounts and estimated fair values of financial instruments not measured and not reported at fair value on the consolidated statements of financial condition at December 31, 2016 and 2015 were as follows: December 31, 2016 2015 Fair Value Hierarchy Carrying Amount Fair Value Carrying Amount Fair Value (in thousands) Financial assets Cash and due from banks Level 1 $ 220,791 $ 220,791 $ 243,575 $ 243,575 Interest bearing deposits with banks Level 1 171,710 171,710 170,225 170,225 Investment securities held to maturity: U.S. Treasury securities Level 1 138,830 147,495 138,978 149,483 U.S. government agency securities Level 2 11,329 11,464 12,859 13,130 Obligations of states and political subdivisions Level 2 566,590 577,826 504,865 527,263 Residential mortgage-backed securities Level 2 1,112,460 1,102,802 852,289 855,272 Trust preferred securities Level 2 59,804 47,290 59,785 46,437 Corporate and other debt securities Level 2 36,559 37,720 27,609 29,454 Total investment securities held to maturity 1,925,572 1,924,597 1,596,385 1,621,039 Net loans Level 3 17,121,684 16,756,655 15,936,929 15,824,475 Accrued interest receivable Level 1 66,816 66,816 63,554 63,554 Federal Reserve Bank and Federal Home Loan Bank stock (1) Level 1 147,127 147,127 145,068 145,068 Financial liabilities Deposits without stated maturities Level 1 14,591,837 14,591,837 13,095,647 13,095,647 Deposits with stated maturities Level 2 3,138,871 3,160,572 3,157,904 3,203,389 Short-term borrowings Level 1 1,080,960 1,081,751 1,076,991 1,076,991 Long-term borrowings Level 2 1,433,906 1,523,386 1,810,728 1,945,741 Junior subordinated debentures issued to capital trusts Level 2 41,577 45,785 41,414 44,127 Accrued interest payable (2) Level 1 10,675 10,675 13,110 13,110 (1) Included in other assets. (2) Included in accrued expenses and other liabilities.

Investment Securities (Tables)

Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Investment Securities Held to Maturity	The amortized cost, gross unrealized gains and losses and fair value of investment securities held to maturity at December 31, 2016 and 2015 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) December 31, 2016 U.S. Treasury securities $ 138,830 $ 8,665 $ — $ 147,495 U.S. government agency securities 11,329 135 — 11,464 Obligations of states and political subdivisions: Obligations of states and state agencies 252,185 6,692 (1,428 ) 257,449 Municipal bonds 314,405 6,438 (466 ) 320,377 Total obligations of states and political subdivisions 566,590 13,130 (1,894 ) 577,826 Residential mortgage-backed securities 1,112,460 8,432 (18,090 ) 1,102,802 Trust preferred securities 59,804 40 (12,554 ) 47,290 Corporate and other debt securities 36,559 1,190 (29 ) 37,720 Total investment securities held to maturity $ 1,925,572 $ 31,592 $ (32,567 ) $ 1,924,597 December 31, 2015 U.S. Treasury securities $ 138,978 $ 10,505 $ — $ 149,483 U.S. government agency securities 12,859 271 — 13,130 Obligations of states and political subdivisions: Obligations of states and state agencies 194,547 10,538 (10 ) 205,075 Municipal bonds 310,318 11,955 (85 ) 322,188 Total obligations of states and political subdivisions 504,865 22,493 (95 ) 527,263 Residential mortgage-backed securities 852,289 11,018 (8,035 ) 855,272 Trust preferred securities 59,785 36 (13,384 ) 46,437 Corporate and other debt securities 27,609 1,894 (49 ) 29,454 Total investment securities held to maturity $ 1,596,385 $ 46,217 $ (21,563 ) $ 1,621,039
Age of Unrealized Losses and Fair Value of Related Securities Held to Maturity	The age of unrealized losses and fair value of related securities held to maturity at December 31, 2016 and 2015 were as follows: Less than Twelve Months More than Twelve Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (in thousands) December 31, 2016 Obligations of states and political subdivisions: Obligations of states and state agencies $ 98,114 $ (1,428 ) $ — $ — $ 98,114 $ (1,428 ) Municipal bonds 27,368 (466 ) — — 27,368 (466 ) Total obligations of states and political subdivisions 125,482 (1,894 ) — — 125,482 (1,894 ) Residential mortgage-backed securities 692,108 (14,420 ) 114,505 (3,670 ) 806,613 (18,090 ) Trust preferred securities 45,898 (12,554 ) 45,898 (12,554 ) Corporate and other debt securities 2,971 (29 ) — — 2,971 (29 ) Total $ 820,561 $ (16,343 ) $ 160,403 $ (16,224 ) $ 980,964 $ (32,567 ) December 31, 2015 Obligations of states and political subdivisions: Obligations of states and state agencies $ 6,837 $ (5 ) $ 1,965 $ (5 ) $ 8,802 $ (10 ) Municipal bonds 8,814 (72 ) 10,198 (13 ) 19,012 (85 ) Total obligations of states and political subdivisions 15,651 (77 ) 12,163 (18 ) 27,814 (95 ) Residential mortgage-backed securities 244,440 (2,916 ) 162,756 (5,119 ) 407,196 (8,035 ) Trust preferred securities — — 45,047 (13,384 ) 45,047 (13,384 ) Corporate and other debt securities 2,951 $ (49 ) $ — $ — $ 2,951 $ (49 ) Total $ 263,042 $ (3,042 ) $ 219,966 $ (18,521 ) $ 483,008 $ (21,563 )
Contractual Maturities of Debt Securities Held to Maturity	The contractual maturities of investments in debt securities held to maturity at December 31, 2016 are set forth in the table below. Maturities may differ from contractual maturities in residential mortgage-backed securities because the mortgages underlying the securities may be prepaid without any penalties. Therefore, residential mortgage-backed securities are not included in the maturity categories in the following summary. December 31, 2016 Amortized Cost Fair Value (in thousands) Due in one year $ 85,139 $ 85,139 Due after one year through five years 191,207 199,327 Due after five years through ten years 364,471 377,665 Due after ten years 172,295 159,664 Residential mortgage-backed securities 1,112,460 1,102,802 Total investment securities held to maturity $ 1,925,572 $ 1,924,597
Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Investment Securities Available for Sale	The amortized cost, gross unrealized gains and losses and fair value of investment securities available for sale at December 31, 2016 and 2015 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) December 31, 2016 U.S. Treasury securities $ 51,020 $ 6 $ (1,435 ) $ 49,591 U.S. government agency securities 22,815 232 (6 ) 23,041 Obligations of states and political subdivisions: Obligations of states and state agencies 40,696 70 (424 ) 40,342 Municipal bonds 80,045 147 (767 ) 79,425 Total obligations of states and political subdivisions 120,741 217 (1,191 ) 119,767 Residential mortgage-backed securities 1,029,827 2,061 (16,346 ) 1,015,542 Trust preferred securities* 10,164 — (2,155 ) 8,009 Corporate and other debt securities 60,651 436 (522 ) 60,565 Equity securities 20,505 1,114 (761 ) 20,858 Total investment securities available for sale $ 1,315,723 $ 4,066 $ (22,416 ) $ 1,297,373 December 31, 2015 U.S. Treasury securities $ 551,173 $ 4 $ (1,704 ) $ 549,473 U.S. government agency securities 29,316 665 (18 ) 29,963 Obligations of states and political subdivisions: Obligations of states and state agencies 44,285 196 (67 ) 44,414 Municipal bonds 80,717 209 (374 ) 80,552 Total obligations of states and political subdivisions 125,002 405 (441 ) 124,966 Residential mortgage-backed securities 701,764 3,348 (8,684 ) 696,428 Trust preferred securities* 10,458 — (2,054 ) 8,404 Corporate and other debt securities 78,202 1,239 (1,889 ) 77,552 Equity securities 21,022 575 (1,522 ) 20,075 Total investment securities available for sale $ 1,516,937 $ 6,236 $ (16,312 ) $ 1,506,861 * Includes two pooled trust preferred securities, principally collateralized by securities issued by banks and insurance companies, at December 31, 2016 and 2015.
Age of Unrealized Losses and Fair Value of Related Securities	The age of unrealized losses and fair value of related securities available for sale at December 31, 2016 and 2015 were as follows: Less than Twelve Months More than Twelve Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (in thousands) December 31, 2016 U.S. Treasury securities $ 48,660 $ (1,435 ) $ — $ — $ 48,660 $ (1,435 ) U.S. government agency securities 2,530 (4 ) 4,034 (2 ) 6,564 (6 ) Obligations of states and political subdivisions: Obligations of states and state agencies 28,628 (404 ) 753 (20 ) 29,381 (424 ) Municipal bonds 42,573 (506 ) 11,081 (261 ) 53,654 (767 ) Total obligations of states and political subdivisions 71,201 (910 ) 11,834 (281 ) 83,035 (1,191 ) Residential mortgage-backed securities 788,030 (11,889 ) 132,718 (4,457 ) 920,748 (16,346 ) Trust preferred securities 8,009 (2,155 ) 8,009 (2,155 ) Corporate and other debt securities 32,292 (294 ) 15,192 (228 ) 47,484 (522 ) Equity securities — — 14,883 (761 ) 14,883 (761 ) Total $ 942,713 $ (14,532 ) $ 186,670 $ (7,884 ) $ 1,129,383 $ (22,416 ) December 31, 2015 U.S. Treasury securities $ 548,538 $ (1,704 ) $ — $ — $ 548,538 $ (1,704 ) U.S. government agency securities 3,489 (5 ) 4,736 (13 ) 8,225 (18 ) Obligations of states and political subdivisions: Obligations of states and state agencies 24,359 (67 ) — — 24,359 (67 ) Municipal bonds 38,207 (128 ) 13,551 (246 ) 51,758 (374 ) Total obligations of states and political subdivisions 62,566 (195 ) 13,551 (246 ) 76,117 (441 ) Residential mortgage-backed securities 293,615 (4,147 ) 164,010 (4,537 ) 457,625 (8,684 ) Trust preferred securities — — 8,404 (2,054 ) 8,404 (2,054 ) Corporate and other debt securities 21,203 (471 ) 36,137 (1,418 ) 57,340 (1,889 ) Equity securities — — 14,273 (1,522 ) 14,273 (1,522 ) Total $ 929,411 $ (6,522 ) $ 241,111 $ (9,790 ) $ 1,170,522 $ (16,312 )
Contractual Maturities of Investments Securities Available for Sale	The contractual maturities of investments securities available for sale at December 31, 2016 are set forth in the following table. Maturities may differ from contractual maturities in residential mortgage-backed securities because the mortgages underlying the securities may be prepaid without any penalties. Therefore, residential mortgage-backed securities are not included in the maturity categories in the following summary. December 31, 2016 Amortized Cost Fair Value (in thousands) Due in one year $ 18,770 $ 18,654 Due after one year through five years 73,904 74,158 Due after five years through ten years 114,174 112,063 Due after ten years 58,543 56,098 Residential mortgage-backed securities 1,029,827 1,015,542 Equity securities 20,505 20,858 Total investment securities available for sale $ 1,315,723 $ 1,297,373
Changes in Credit Loss Component of Cumulative Other-than-Temporary Impairment Losses on Debt Securities	The following table presents the changes in the credit loss component of cumulative other-than-temporary impairment losses on debt securities classified as either held to maturity or available for sale that Valley has recognized in earnings, for which a portion of the impairment loss (non-credit factors) was recognized in other comprehensive income or loss for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 (in thousands) Balance, beginning of period $ 5,837 $ 8,947 $ 9,990 Accretion of credit loss impairment due to an increase in expected cash flows (921 ) (728 ) (661 ) Sales — (2,382 ) (382 ) Balance, end of period $ 4,916 $ 5,837 $ 8,947
Gross Gains (Losses) Realized on Sales, Maturities and Other Securities Transactions Included in Earnings	Gross gains and losses realized on sales, maturities and other securities transactions included in earnings for the years ended December 31, 2016 , 2015 and 2014 were as follows: 2016 2015 2014 (in thousands) Sales transactions: Gross gains $ 271 $ 3,274 $ 746 Gross losses (58 ) (947 ) (2 ) $ 213 $ 2,327 $ 744 Maturities and other securities transactions: Gross gains $ 615 $ 293 $ 10 Gross losses (51 ) (133 ) (9 ) $ 564 $ 160 $ 1 Gains on securities transactions, net $ 777 $ 2,487 $ 745

Loans (Tables)

Loans (Tables)	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
Schedule of Loan Portfolio Non-Covered and Covered PCI Loans and Non-PCI Loans	The detail of the loan portfolio as of December 31, 2016 and 2015 was as follows: December 31, 2016 December 31, 2015 Non-PCI Loans PCI Loans* Total Non-PCI Loans PCI Loans* Total (in thousands) Loans: Commercial and industrial $ 2,357,018 $ 281,177 $ 2,638,195 $ 2,156,549 $ 383,942 $ 2,540,491 Commercial real estate: Commercial real estate 7,628,328 1,091,339 8,719,667 6,069,532 1,355,104 7,424,636 Construction 710,266 114,680 824,946 607,694 147,253 754,947 Total commercial real estate loans 8,338,594 1,206,019 9,544,613 6,677,226 1,502,357 8,179,583 Residential mortgage 2,684,195 183,723 2,867,918 2,912,079 218,462 3,130,541 Consumer: Home equity 376,213 92,796 469,009 391,809 119,394 511,203 Automobile 1,139,082 145 1,139,227 1,238,826 487 1,239,313 Other consumer 569,499 7,642 577,141 426,147 15,829 441,976 Total consumer loans 2,084,794 100,583 2,185,377 2,056,782 135,710 2,192,492 Total loans $ 15,464,601 $ 1,771,502 $ 17,236,103 $ 13,802,636 $ 2,240,471 $ 16,043,107 * PCI loans include covered loans (mostly consisting of residential mortgage and commercial real estate loans) totaling $70.4 million and $122.3 million at December 31, 2016 and 2015 , respectively.
Changes in Accretable Yield for Covered Loans	The following table presents changes in the accretable yield for PCI loans for the years ended December 31, 2016 and 2015 : 2016 2015 (in thousands) Balance, beginning of period $ 415,179 $ 336,208 Acquisition — 126,930 Accretion (107,482 ) (105,078 ) Net (decrease) increase in expected cash flows (9,989 ) 57,119 Other, net (3,194 ) — Balance, end of period $ 294,514 $ 415,179
Summary of Related Party Loans	The following table summarizes the changes in the total amounts of loans and advances to the related parties during the year ended December 31, 2016 : 2016 (in thousands) Outstanding at beginning of year $ 191,566 New loans and advances 26,736 Repayments (52,982 ) Outstanding at end of year $ 165,320
Past Due, Non-Accrual and Current Non-Covered Loans by Loan Portfolio Class	The following tables present past due, non-accrual and current loans (excluding PCI loans, which are accounted for on a pool basis) by loan portfolio class at December 31, 2016 and 2015 : Past Due and Non-Accrual Loans 30-59 Days Past Due Loans 60-89 Days Past Due Loans Accruing Loans 90 Days Or More Past Due Non-Accrual Loans Total Past Due Loans Current Non-PCI Loans Total Non-PCI Loans (in thousands) December 31, 2016 Commercial and industrial $ 6,705 $ 5,010 $ 142 $ 8,465 $ 20,322 $ 2,336,696 $ 2,357,018 Commercial real estate: Commercial real estate 5,894 8,642 474 15,079 30,089 7,598,239 7,628,328 Construction 6,077 — 1,106 715 7,898 702,368 710,266 Total commercial real estate loans 11,971 8,642 1,580 15,794 37,987 8,300,607 8,338,594 Residential mortgage 12,005 3,564 1,541 12,075 29,185 2,655,010 2,684,195 Consumer loans: Home equity 929 415 — 1,028 2,372 373,841 376,213 Automobile 3,192 723 188 146 4,249 1,134,833 1,139,082 Other consumer 76 9 21 — 106 569,393 569,499 Total consumer loans 4,197 1,147 209 1,174 6,727 2,078,067 2,084,794 Total $ 34,878 $ 18,363 $ 3,472 $ 37,508 $ 94,221 $ 15,370,380 $ 15,464,601 Past Due and Non-Accrual Loans 30-59 Days Past Due Loans 60-89 Days Past Due Loans Accruing Loans 90 Days Or More Past Due Non-Accrual Loans Total Past Due Loans Current Non-PCI Loans Total Non-PCI Loans (in thousands) December 31, 2015 Commercial and industrial $ 3,920 $ 524 $ 213 $ 10,913 $ 15,570 $ 2,140,979 $ 2,156,549 Commercial real estate: Commercial real estate 2,684 — 131 24,888 27,703 6,041,829 6,069,532 Construction 1,876 2,799 — 6,163 10,838 596,856 607,694 Total commercial real estate loans 4,560 2,799 131 31,051 38,541 6,638,685 6,677,226 Residential mortgage 6,681 1,626 1,504 17,930 27,741 2,884,338 2,912,079 Consumer loans: Home equity 1,308 111 — 2,088 3,507 388,302 391,809 Automobile 1,969 491 164 118 2,742 1,236,084 1,238,826 Other consumer 71 24 44 — 139 426,008 426,147 Total consumer loans 3,348 626 208 2,206 6,388 2,050,394 2,056,782 Total $ 18,509 $ 5,575 $ 2,056 $ 62,100 $ 88,240 $ 13,714,396 $ 13,802,636
Impaired Loans	The following table presents the information about impaired loans by loan portfolio class at December 31, 2016 and 2015 : Recorded Investment With No Related Allowance Recorded Investment With Related Allowance Total Recorded Investment Unpaid Contractual Principal Balance Related Allowance (in thousands) December 31, 2016 Commercial and industrial $ 3,609 $ 27,031 $ 30,640 $ 35,957 $ 5,864 Commercial real estate: Commercial real estate 21,318 36,974 58,292 60,267 3,612 Construction 1,618 2,379 3,997 3,997 260 Total commercial real estate loans 22,936 39,353 62,289 64,264 3,872 Residential mortgage 8,398 9,958 18,356 19,712 725 Consumer loans: Home equity 1,182 2,352 3,534 3,626 70 Total consumer loans 1,182 2,352 3,534 3,626 70 Total $ 36,125 $ 78,694 $ 114,819 $ 123,559 $ 10,531 December 31, 2015 Commercial and industrial $ 7,863 $ 17,851 $ 25,714 $ 33,071 $ 3,439 Commercial real estate: Commercial real estate 30,113 37,440 67,553 71,263 3,354 Construction 8,847 5,530 14,377 14,387 317 Total commercial real estate loans 38,960 42,970 81,930 85,650 3,671 Residential mortgage 7,842 14,770 22,612 24,528 1,377 Consumer loans: Home equity 263 1,869 2,132 2,224 295 Total consumer loans 263 1,869 2,132 2,224 295 Total $ 54,928 $ 77,460 $ 132,388 $ 145,473 $ 8,782
Average Recorded Investment and Interest Income Recognized on Impaired Loans	The following table presents, by loan portfolio class, the average recorded investment and interest income recognized on impaired loans for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) Commercial and industrial $ 36,552 $ 1,045 $ 28,451 $ 893 $ 30,485 $ 1,114 Commercial real estate: Commercial real estate 59,633 2,122 77,154 2,380 74,256 2,488 Construction 5,790 182 16,399 534 21,515 547 Total commercial real estate loans 65,423 2,304 93,553 2,914 95,771 3,035 Residential mortgage 21,340 874 24,435 728 26,863 812 Consumer loans: Home equity 2,626 68 3,852 111 2,214 49 Total consumer loans 2,626 68 3,852 111 2,214 49 Total $ 125,941 $ 4,291 $ 150,291 $ 4,646 $ 155,333 $ 5,010
Pre-Modification and Post-Modification Outstanding Recorded Investments	The non-PCI loans modified as TDRs within the previous 12 months and for which there was a payment default ( 90 or more days past due) for the years ended December 31, 2016 and 2015 were as follows: Years Ended December 31, 2016 2015 Troubled Debt Restructurings Subsequently Defaulted Number of Contracts Recorded Investment Number of Contracts Recorded Investment ($ in thousands) Commercial and industrial — $ — 1 $ 129 Commercial real estate 2 357 1 87 Residential mortgage 4 853 1 214 Consumer — — 1 75 Total 6 $ 1,210 4 $ 505 The following table presents non-PCI loans by loan class modified as TDRs during the years ended December 31, 2016 and 2015 . The pre-modification and post-modification outstanding recorded investments disclosed in the table below represent the loan carrying amounts immediately prior to the modification and the carrying amounts at December 31, 2016 and 2015 , respectively. Troubled Debt Restructurings Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment ($ in thousands) December 31, 2016 Commercial and industrial 19 $ 18,186 $ 16,277 Commercial real estate: Commercial real estate 4 8,325 7,092 Construction 3 2,922 3,626 Total commercial real estate 7 11,247 10,718 Residential mortgage 7 1,867 1,826 Consumer 1 54 51 Total 34 $ 31,354 $ 28,872 December 31, 2015 Commercial and industrial 17 $ 8,409 $ 6,793 Commercial real estate: Commercial real estate 5 6,768 6,709 Construction 2 646 1,391 Total commercial real estate 7 7,414 8,100 Residential mortgage 7 2,659 2,603 Consumer 2 1,111 1,095 Total 33 $ 19,593 $ 18,591
Risk Category of Loans	The following table presents the risk category of loans by class of loans (excluding PCI loans) based on the most recent analysis performed at December 31, 2016 and 2015 . Credit exposure— by internally assigned risk rating Special Total Non-PCI Pass Mention Substandard Doubtful Loans (in thousands) December 31, 2016 Commercial and industrial $ 2,246,457 $ 44,316 $ 64,649 $ 1,596 $ 2,357,018 Commercial real estate 7,486,469 57,591 84,268 — 7,628,328 Construction 708,070 200 1,996 — 710,266 Total $ 10,440,996 $ 102,107 $ 150,913 $ 1,596 $ 10,695,612 December 31, 2015 Commercial and industrial $ 2,049,752 $ 68,243 $ 36,254 $ 2,300 $ 2,156,549 Commercial real estate 5,893,354 79,279 96,899 — 6,069,532 Construction 596,530 1,102 10,062 — 607,694 Total $ 8,539,636 $ 148,624 $ 143,215 $ 2,300 $ 8,833,775
Recorded Investment in Loan Classes Based on Payment Activity	The following table presents the recorded investment in those loan classes based on payment activity as of December 31, 2016 and 2015 : Credit exposure— by payment activity Performing Loans Non-Performing Loans Total Non-PCI Loans (in thousands) December 31, 2016 Residential mortgage $ 2,672,120 $ 12,075 $ 2,684,195 Home equity 375,185 1,028 376,213 Automobile 1,138,936 146 1,139,082 Other consumer 569,499 — 569,499 Total $ 4,755,740 $ 13,249 $ 4,768,989 December 31, 2015 Residential mortgage $ 2,894,149 $ 17,930 $ 2,912,079 Home equity 389,721 2,088 391,809 Automobile 1,238,708 118 1,238,826 Other consumer 426,147 — 426,147 Total $ 4,948,725 $ 20,136 $ 4,968,861 The following table presents the recorded investment in PCI loans by class based on individual loan payment activity as of December 31, 2016 and 2015 : Credit exposure— Performing Non-Performing Total by payment activity Loans Loans PCI Loans (in thousands) December 31, 2016 Commercial and industrial $ 272,483 $ 8,694 $ 281,177 Commercial real estate 1,080,376 10,963 1,091,339 Construction 113,370 1,310 114,680 Residential mortgage 179,793 3,930 183,723 Consumer 98,469 2,114 100,583 Total $ 1,744,491 $ 27,011 $ 1,771,502 December 31, 2015 Commercial and industrial $ 373,665 $ 10,277 $ 383,942 Commercial real estate 1,342,030 13,074 1,355,104 Construction 141,547 5,706 147,253 Residential mortgage 214,713 3,749 218,462 Consumer 129,891 5,819 135,710 Total $ 2,201,846 $ 38,625 $ 2,240,471

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
Summary of Allowance for Credit Losses	The following table summarizes the allowance for credit losses at December 31, 2016 and 2015 : December 31, 2016 2015 (in thousands) Components of allowance for credit losses: Allowance for loan losses $ 114,419 $ 106,178 Allowance for unfunded letters of credit 2,185 2,189 Total allowance for credit losses $ 116,604 $ 108,367
Summary of Provision for Credit Losses	The following table summarizes the provision for credit losses for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 (in thousands) Components of provision for credit losses: Provision for loan losses $ 11,873 $ 7,846 $ 3,445 Provision for unfunded letters of credit (4 ) 255 (1,561 ) Total provision for credit losses $ 11,869 $ 8,101 $ 1,884
Summary of Activity in Allowance for Loan Losses	The following table details the activity in the allowance for loan losses by portfolio segment for the years ended December 31, 2016 and 2015 : Commercial and Industrial Commercial Real Estate Residential Mortgage Consumer Unallocated Total (in thousands) December 31, 2016 Allowance for loan losses: Beginning balance $ 48,767 $ 48,006 $ 4,625 $ 4,780 $ — $ 106,178 Loans charged-off (5,990 ) (650 ) (866 ) (3,463 ) — (10,969 ) Charged-off loans recovered 2,852 2,057 774 1,654 — 7,337 Net charge-offs (3,138 ) 1,407 (92 ) (1,809 ) — (3,632 ) Provision for loan losses 5,191 6,438 (831 ) 1,075 11,873 Ending balance $ 50,820 $ 55,851 $ 3,702 $ 4,046 $ — $ 114,419 December 31, 2015 Allowance for loan losses: Beginning balance $ 43,676 $ 42,840 $ 5,093 $ 5,179 $ 5,565 $ 102,353 Loans charged-off (7,928 ) (2,790 ) (813 ) (3,441 ) — (14,972 ) Charged-off loans recovered 7,233 1,759 421 1,538 — 10,951 Net charge-offs (695 ) (1,031 ) (392 ) (1,903 ) — (4,021 ) Provision for loan losses 5,786 6,197 (76 ) 1,504 (5,565 ) 7,846 Ending balance $ 48,767 $ 48,006 $ 4,625 $ 4,780 $ — $ 106,178
Summary of Allocation of Allowance for Loan Losses and Related Loans by Loan Portfolio Segment Disaggregated Based on Impairment Methodology	The following table represents the allocation of the allowance for loan losses and the related loans by loan portfolio segment disaggregated based on the impairment methodology for the years ended December 31, 2016 and 2015 . Loans individually evaluated for impairment represent Valley’s impaired loans. Loans acquired with discounts related to credit quality represent Valley’s PCI loans. Commercial and Industrial Commercial Real Estate Residential Mortgage Consumer Total (in thousands) December 31, 2016 Allowance for loan losses: Individually evaluated for impairment $ 5,864 $ 3,872 $ 725 $ 70 $ 10,531 Collectively evaluated for impairment 44,956 51,979 2,977 3,976 103,888 Total $ 50,820 $ 55,851 $ 3,702 $ 4,046 $ 114,419 Loans: Individually evaluated for impairment $ 30,640 $ 62,289 $ 18,356 $ 3,534 $ 114,819 Collectively evaluated for impairment 2,326,378 8,276,305 2,665,839 2,081,260 15,349,782 Loans acquired with discounts related to credit quality 281,177 1,206,019 183,723 100,583 1,771,502 Total $ 2,638,195 $ 9,544,613 $ 2,867,918 $ 2,185,377 $ 17,236,103 December 31, 2015 Allowance for loan losses: Individually evaluated for impairment $ 3,439 $ 3,671 $ 1,377 $ 295 $ 8,782 Collectively evaluated for impairment 45,328 44,335 3,248 4,485 97,396 Total $ 48,767 $ 48,006 $ 4,625 $ 4,780 $ 106,178 Loans: Individually evaluated for impairment $ 25,714 $ 81,930 $ 22,612 $ 2,132 $ 132,388 Collectively evaluated for impairment 2,130,835 6,595,296 2,889,467 2,054,650 13,670,248 Loans acquired with discounts related to credit quality 383,942 1,502,357 218,462 135,710 2,240,471 Total $ 2,540,491 $ 8,179,583 $ 3,130,541 $ 2,192,492 $ 16,043,107

Premises and Equipment, Net (Ta

Premises and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Components of Premises and Equipment, Net	At December 31, 2016 and 2015 , premises and equipment, net consisted of: 2016 2015 (in thousands) Land $ 78,116 $ 80,519 Buildings 210,012 211,923 Leasehold improvements 73,405 70,314 Furniture and equipment 240,424 224,340 Total premises and equipment 601,957 587,096 Accumulated depreciation and amortization (310,777 ) (288,153 ) Total premises and equipment, net $ 291,180 $ 298,943

Goodwill and Other Intangible37

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying Amount of Goodwill	The changes in the carrying amount of goodwill as allocated to our business segments, or reporting units thereof, for goodwill impairment analysis were: Business Segment / Reporting Unit* Wealth Management Consumer Lending Commercial Lending Investment Management Total (in thousands) Balance at December 31, 2014 $ 20,517 $ 168,922 $ 252,900 $ 133,553 $ 575,892 Goodwill from business combinations — 30,197 61,360 18,890 110,447 Balance at December 31, 2015 $ 20,517 $ 199,119 $ 314,260 $ 152,443 $ 686,339 Goodwill from business combinations 701 984 1,998 615 4,298 Balance at December 31, 2016 $ 21,218 $ 200,103 $ 316,258 $ 153,058 $ 690,637 * 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.
Other Intangible Assets	The following tables summarize other intangible assets as of December 31, 2016 and 2015 : Gross Intangible Assets Accumulated Amortization Valuation Allowance Net Intangible Assets (in thousands) December 31, 2016 Loan servicing rights $ 73,002 $ (52,634 ) $ (900 ) $ 19,468 Core deposits 61,504 (37,562 ) — 23,942 Other 4,087 (2,013 ) — 2,074 Total other intangible assets $ 138,593 $ (92,209 ) $ (900 ) $ 45,484 December 31, 2015 Loan servicing rights $ 75,932 $ (59,251 ) $ (289 ) $ 16,392 Core deposits 62,714 (31,934 ) — 30,780 Other 4,374 (2,664 ) — 1,710 Total other intangible assets $ 143,020 $ (93,849 ) $ (289 ) $ 48,882
Schedule of Change in Loan Servicing Rights	The following table summarizes the change in loan servicing rights during the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 (in thousands) Loan servicing rights Balance at beginning of year $ 16,681 $ 20,446 $ 26,068 Origination of loan servicing rights 8,479 1,696 1,065 Amortization expense (4,792 ) (5,461 ) (6,687 ) Balance at end of year $ 20,368 $ 16,681 $ 20,446 Valuation allowance Balance at beginning of year $ (289 ) $ (592 ) $ (504 ) Impairment adjustment (611 ) 303 (88 ) Balance at end of year $ (900 ) $ (289 ) $ (592 ) Balance at end of year, net of valuation allowance $ 19,468 $ 16,392 $ 19,854
Estimated Future Amortization Expense	The following table presents the estimated amortization expense of other intangible assets over the next five-year period: Year Loan Servicing Rights Core Deposits Other (in thousands) 2017 $ 4,888 $ 4,842 $ 280 2018 3,989 4,215 249 2019 3,101 3,671 235 2020 2,417 3,127 220 2021 1,771 2,582 206

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2016
Banking and Thrift [Abstract]
Scheduled Maturities of Time Deposits	The scheduled maturities of time deposits as of December 31, 2016 are as follows: Year Amount (in thousands) 2017 $ 2,122,906 2018 473,924 2019 98,763 2020 147,548 2021 162,687 Thereafter 133,043 Total time deposits $ 3,138,871

Borrowed Funds (Tables)

Borrowed Funds (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Short-Term Borrowings	Short-term borrowings at December 31, 2016 and 2015 consisted of the following: 2016 2015 (in thousands) Securities sold under agreements to repurchase $ 298,960 $ 500,991 Federal funds purchased — 50,000 FHLB advances 782,000 526,000 Total short-term borrowings $ 1,080,960 $ 1,076,991
Schedule of Long-Term Borrowings	Long-term borrowings at December 31, 2016 and 2015 consisted of the following: 2016 2015 (in thousands) FHLB advances, net (1) $ 1,031,666 $ 1,272,591 Securities sold under agreements to repurchase 165,000 307,500 Subordinated debt, net (2) 236,731 230,573 Other 509 64 Total long-term borrowings $ 1,433,906 $ 1,810,728 (1) FHLB advances are presented net of unamortized prepayment penalties and other purchase accounting adjustments totaling $18.3 million and $3.6 million at December 31, 2016 and 2015, respectively. (2) Subordinated debt is presented net of unamortized debt issuance costs totaling $1.9 million and $2.2 million at December 31, 2016 and 2015, respectively.
Schedule of FHLB Repayment	The long-term FHLB advances at December 31, 2016 are scheduled for contractual balance repayments as follows: Year Amount (in thousands) 2017 $ 10,000 2021 840,000 Thereafter 200,000 Total long-term FHLB advances $ 1,050,000
Schedule of Repayment of Long-Term Borrowings for Securities Sold Under Agreements to Repurchase	The long-term repos at December 31, 2016 are scheduled for contractual balance repayments as follows: Year Amount (in thousands) 2017 $ 65,000 2018 50,000 Thereafter 50,000 Total long-term securities sold under agreements to repurchase $ 165,000

Junior Subordinated Debenture40

Junior Subordinated Debentures Issued to Capital Trusts (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Outstanding Junior Subordinated Debentures and Related Trust Preferred Securities Issued by Each Trust	The table below summarizes the outstanding junior subordinated debentures and the related trust preferred securities issued by each trust as of December 31, 2016 and 2015: GCB Capital Trust III State Bancorp Capital Trust I State Bancorp Capital Trust II ($ in thousands) Junior Subordinated Debentures: December 31, 2016 Carrying value (1) $ 24,777 $ 8,724 $ 8,076 Contractual principal balance 24,743 10,310 10,310 December 31, 2015 Carrying value (1) $ 24,846 $ 8,624 $ 7,944 Contractual principal balance 24,743 10,310 10,310 Annual interest rate (2) 6.96 % 3-month LIBOR+3.45% 3-month LIBOR+2.85% Stated maturity date July 30, 2037 November 7, 2032 January 23, 2034 Initial call date July 30, 2017 November 7, 2007 January 23, 2009 Trust Preferred Securities: December 31, 2016 and 2015 Face value $ 24,000 $ 10,000 $ 10,000 Annual distribution rate (2) 6.96 % 3-month LIBOR+3.45% 3-month LIBOR+2.85% Issuance date July 2, 2007 October 29, 2002 December 19, 2003 Distribution dates (3) Quarterly Quarterly Quarterly (1) T he carrying values include unamortized purchase accounting adjustments at December 31, 2016 and 2015. (2) Interest on GCB Capital Trust III is fixed until July 30, 2017, then resets to 3 -month LIBOR plus 1.4 percent . The annual interest rate for all of the junior subordinated debentures and related trust preferred securities excludes the effect of the purchase accounting adjustments. (3) All cash distributions are cumulative.

Benefit Plans (Tables)

Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Change in Projected Benefit Obligation	The following table sets forth the change in the projected benefit obligation, the change in fair value of plan assets and the funded status and amounts recognized in Valley’s consolidated financial statements for the qualified and non-qualified plans at December 31, 2016 and 2015 : 2016 2015 (in thousands) Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 157,661 $ 176,339 Interest cost 6,681 6,889 Actuarial loss (gain) 2,047 (17,177 ) Benefits paid (5,546 ) (8,390 ) Projected benefit obligation at end of year $ 161,306 $ 157,661 Change in fair value of plan assets: Fair value of plan assets at beginning of year $ 189,414 $ 194,646 Actual return on plan assets 22,424 2,875 Employer contributions 347 283 Benefits paid (5,546 ) (8,390 ) Fair value of plan assets at end of year* $ 206,639 $ 189,414 Funded status of the plan Asset recognized $ 45,333 $ 31,753 Accumulated benefit obligation 161,306 157,661 * Includes accrued interest receivable of $606 thousand and $607 thousand as of December 31, 2016 and 2015 , respectively.
Component of Net Periodic Pension Expense	Valley expects to recognize approximately $367 thousand of the net actuarial loss reported in the following table as of December 31, 2016 as a component of net periodic pension expense during 2017 . 2016 2015 (in thousands) Net actuarial loss $ 30,140 $ 36,271 Deferred tax benefit (12,647 ) (15,118 ) Total $ 17,493 $ 21,153
Accumulated Benefit Obligation in Excess of Plan	The non-qualified plans had a projected benefit obligation, accumulated benefit obligation, and fair value of plan assets as follows: 2016 2015 (in thousands) Projected benefit obligation $ 18,286 $ 17,411 Accumulated benefit obligation 18,286 17,411 Fair value of plan assets — —
Components of Net Periodic Pension Expense for Qualified and Non-Qualified Plans	The net periodic pension income for the qualified and non-qualified plans included the following components for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 (in thousands) Interest cost $ 6,681 $ 6,889 $ 6,897 Expected return on plan assets (14,539 ) (14,023 ) (12,967 ) Amortization of net loss 294 790 226 Total net periodic pension income $ (7,564 ) $ (6,344 ) $ (5,844 )
Qualified and Non-Qualified Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income or Loss	Other changes in the qualified and non-qualified plan assets and benefit obligations recognized in other comprehensive income/loss for the years ended December 31, 2016 and 2015 were as follows: 2016 2015 (in thousands) Net gain $ (5,837 ) $ (6,030 ) Prior service cost 462 — Amortization of actuarial loss (294 ) (790 ) Total recognized in other comprehensive income $ (5,669 ) $ (6,820 ) Total recognized in net periodic pension income and other comprehensive income/loss (before tax) $ (13,233 ) $ (13,163 )
Schedule of Expected Future Benefit Payments	The benefit payments, which reflect expected future service, as appropriate, expected to be paid in future years are presented in the following table: Year Amount (in thousands) 2017 $ 6,847 2018 7,206 2019 7,744 2020 8,081 2021 8,423 Thereafter 45,462
Weighted Average Discount Rate	The weighted average discount rate, expected long-term rate of return on assets and rate of compensation increase used in determining Valley’s pension expense for the years ended December 31, 2016 , 2015 and 2014 were as follows: 2016 2015 2014 Discount rate 4.33 % 4.02 % 4.89 % Expected long-term return on plan assets 7.50 % 7.50 % 7.50 % Rate of compensation increase N/A N/A N/A
Fair Value Measurement	The following table presents the qualified plan weighted-average asset allocations by asset category that are measured at fair value on a recurring basis by level within the fair value hierarchy under ASC Topic 820. Financial assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. See Note 3 for further details regarding the fair value hierarchy. Fair Value Measurements at Reporting Date Using: % of Total Investments December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) ($ in thousands) Assets: Investments: Equity securities 43 % $ 88,250 $ 88,250 $ — $ — Corporate bonds 21 43,152 — 43,152 — Mutual funds 19 38,975 38,975 — — U.S. Treasury securities 12 24,910 24,910 — — Cash and money market funds 5 10,402 10,402 — — U.S. government agency securities * 344 — 344 — Total investments 100 % $ 206,033 $ 162,537 $ 43,496 $ — Fair Value Measurements at Reporting Date Using: % of Total Investments December 31, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) ($ in thousands) Assets: Investments: Equity securities 41 % $ 76,578 $ 76,578 $ — $ — Corporate bonds 22 41,786 — 41,786 — Mutual funds 19 36,052 36,052 — — U.S. Treasury securities 12 22,130 2,213 — — Cash and money market funds 6 11,913 11,913 — — U.S. government agency securities * 348 — 348 — Total investments 100 % $ 188,807 $ 126,756 $ 42,134 $ — * Represents less than one percent of total investments.
Changes in Restricted Stock Awards Outstanding	The following table sets forth the changes in restricted stock awards outstanding for the years ended December 31, 2016 , 2015 and 2014 : Restricted Stock Awards Outstanding 2016 2015 2014 Outstanding at beginning of year 2,755,138 2,574,616 1,709,312 Granted 544,307 886,427 1,488,960 Vested (1,050,293 ) (559,958 ) (524,663 ) Forfeited (148,336 ) (145,947 ) (98,993 ) Outstanding at end of year 2,100,816 2,755,138 2,574,616
Stock Options Activity	The following table summarizes stock options activity as of December 31, 2016 , 2015 and 2014 and changes during the years ended on those dates: 2016 2015 2014 Weighted Average Exercise Weighted Average Exercise Weighted Average Exercise Stock Options Shares Price Shares Price Shares Price Outstanding at beginning of year 1,383,365 $ 16 1,828,591 $ 17 2,322,593 $ 17 Granted — — 100,000 11 — — Forfeited or expired (650,876 ) 18 (545,226 ) 18 (494,002 ) 19 Outstanding at end of year 732,489 14 1,383,365 16 1,828,591 17 Exercisable at year-end 632,489 14 1,283,365 16 1,828,591 17
Stock Options Outstanding	The following table summarizes information about stock options outstanding and exercisable at December 31, 2016 : Options Outstanding and Exercisable Range of Exercise Prices Number of Options Weighted Average Remaining Contractual Life in Years Weighted Average Exercise Price $10-14 134,681 3.6 $ 12 14-15 445,654 1.1 15 15-17 3,388 1.1 16 18-19 48,766 0.1 19 632,489 1.6 14
Changes in Director's Restricted Stock Awards	The following table sets forth the changes in director’s restricted stock awards outstanding for the years ended December 31, 2016 , 2015 and 2014: Restricted Stock Awards Outstanding 2016 2015 2014 Outstanding at beginning of year 80,117 98,086 121,792 Vested (24,607 ) (17,969 ) (23,706 ) Outstanding at end of year 55,510 80,117 98,086

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Summary of Income Tax Expense	Income tax expense for the years ended December 31, 2016 , 2015 and 2014 consisted of the following: 2016 2015 2014 (in thousands) Current expense (benefit): Federal $ 25,176 $ 7,978 $ 25,156 State 12,904 (493 ) (5,549 ) 38,080 7,485 19,607 Deferred expense: Federal 10,658 (7,539 ) (13,888 ) State 16,496 23,992 25,343 27,154 16,453 11,455 Total income tax expense $ 65,234 $ 23,938 $ 31,062
Summary of Deferred Tax Assets and Liabilities	The tax effects of temporary differences that gave rise to the significant portions of the deferred tax assets and liabilities as of December 31, 2016 and 2015 are as follows: 2016 2015 (in thousands) Deferred tax assets: Allowance for loan losses $ 47,485 $ 44,382 Depreciation 12,432 15,661 Employee benefits 16,121 16,104 Investment securities, including other-than-temporary impairment losses 17,272 18,697 Net operating loss carryforwards 46,667 57,722 Purchase accounting 33,172 40,585 Other 22,183 21,310 Total deferred tax assets 195,332 214,461 Deferred tax liabilities: Pension plans 24,575 18,861 Other investments 20,831 15,720 Other 20,418 21,449 Total deferred tax liabilities 65,824 56,030 Net deferred tax asset (included in other assets) $ 129,508 $ 158,431
Summary of Income Tax Reconciliation	Reconciliation between the reported income tax expense and the amount computed by multiplying consolidated income before taxes by the statutory federal income tax rate of 35 percent for the years ended December 31, 2016 , 2015 and 2014 were as follows: 2016 2015 2014 (in thousands) Federal income tax at expected statutory rate $ 81,683 $ 44,413 $ 51,532 Increase (decrease) due to: State income tax expense, net of federal tax effect 19,197 15,274 12,866 Tax-exempt interest, net of interest incurred to carry tax-exempt securities (5,308 ) (4,864 ) (4,406 ) Bank owned life insurance (2,343 ) (2,385 ) (2,237 ) Tax credits from securities and other investments (25,954 ) (28,988 ) (20,555 ) Reduction in reserve for uncertainties — — (6,971 ) Other, net (2,041 ) 488 833 Income tax expense $ 65,234 $ 23,938 $ 31,062
Summary of Reconciliation of Gross Unrecognized Tax Benefits	A reconciliation of Valley’s gross unrecognized tax benefits for 2016 , 2015 and 2014 are presented in the table below: 2016 2015 2014 (in thousands) Beginning balance $ 19,892 $ 18,647 $ 30,713 Additions based on tax positions related to prior years 3,958 1,245 1,408 Settlements with taxing authorities (4,820 ) — (9,050 ) Reductions due to expiration of statute of limitations (2,886 ) — (4,424 ) Ending balance $ 16,144 $ 19,892 $ 18,647

Tax Credit Investments (Tables)

Tax Credit Investments (Tables)	12 Months Ended
	Dec. 31, 2016
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, and related unfunded commitments at December 31, 2016 and 2015 : December 31, 2016 2015 (in thousands) Other Assets: Affordable housing tax credit investments, net $ 29,567 $ 32,094 Other tax credit investments, net 44,763 70,681 Total tax credit investments, net $ 74,330 $ 102,775 Other Liabilities: Unfunded affordable housing tax credit commitments $ 4,850 $ 7,330 Unfunded other tax credit commitments 7,276 12,545 Total unfunded tax credit commitments $ 12,126 $ 19,875
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 years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 (in thousands) Components of Income Tax Expense: Affordable housing tax credits and other tax benefits $ 5,013 $ 4,709 $ 5,296 Other tax credit investment credits and tax benefits 33,294 23,877 14,357 Total reduction in income tax expense $ 38,307 $ 28,586 $ 19,653 Amortization of Tax Credit Investments: Affordable housing tax credit investment losses $ 2,077 $ 2,594 $ 3,184 Affordable housing tax credit investment impairment losses 450 1,321 3,211 Other tax credit investment losses 790 1,079 2,359 Other tax credit investment impairment losses 31,427 22,318 15,442 Total amortization of tax credit investments recorded in non-interest expense $ 34,744 $ 27,312 $ 24,196

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Minimum Aggregate Lease Payments	Minimum aggregate lease payments for the remainder of the lease terms are as follows: Sublease Year Gross Rents Rents Net Rents (in thousands) 2017 $ 27,256 $ 2,888 $ 24,368 2018 26,863 2,260 24,603 2019 26,361 2,125 24,236 2020 26,458 2,059 24,399 2021 25,754 1,972 23,782 Thereafter 281,310 9,631 271,679 Total lease commitments $ 414,002 $ 20,935 $ 393,067
Summary of Financial Instruments with Off-Balance Sheet Risk	The following table provides a summary of financial instruments with off-balance sheet risk at December 31, 2016 and 2015 : 2016 2015 (in thousands) Commitments under commercial loans and lines of credit $ 2,855,326 $ 2,554,146 Home equity and other revolving lines of credit 904,999 822,506 Outstanding commercial mortgage loan commitments 560,929 724,236 Standby letters of credit 217,695 198,253 Commitments to sell loans 147,250 41,860 Outstanding residential mortgage loan commitments 108,063 54,293 Commitments under unused lines of credit—credit card 49,715 50,532 Commercial letters of credit 4,960 4,249
Consolidated Statements of Financial Condition Related to Fair Value of Derivative Financial Instruments	Amounts included in the consolidated statements of financial condition related to the fair value of Valley’s derivative financial instruments were as follows: December 31, 2016 December 31, 2015 Fair Value Fair Value Other Assets Other Liabilities Notional Amount Other Assets Other Liabilities Notional Amount (in thousands) Derivatives designated as hedging instruments: Cash flow hedge interest rate caps and swaps $ 802 $ 15,641 $ 707,000 $ 1,284 $ 24,823 $ 907,000 Fair value hedge interest rate swaps — 986 7,999 7,658 1,306 133,209 Total derivatives designated as hedging instruments $ 802 $ 16,627 $ 714,999 $ 8,942 $ 26,129 $ 1,040,209 Derivatives not designated as hedging instruments: Interest rate swaps and embedded derivatives $ 25,285 $ 25,284 $ 1,075,722 $ 24,628 $ 24,623 $ 654,134 Mortgage banking derivatives 2,968 2,166 246,583 204 92 73,438 Total derivatives not designated as hedging instruments $ 28,253 $ 27,450 $ 1,322,305 $ 24,832 $ 24,715 $ 727,572
Gains (Losses) Related to Interest Rate Derivatives Designated as Hedges of Cash Flows	Losses included in the consolidated statements of income and in other comprehensive income (loss), on a pre-tax basis, related to interest rate derivatives designated as hedges of cash flows were as follows: 2016 2015 2014 (in thousands) Amount of loss reclassified from accumulated other comprehensive loss to interest expense $ (13,034 ) $ (7,075 ) $ (6,663 ) Amount of loss recognized in other comprehensive income (4,035 ) (12,360 ) (20,910 )
Gains (Losses) Related to Interest Rate Derivatives Designated as Hedges of Fair Value	Gains (losses) included in the consolidated statements of income related to interest rate derivatives designated as hedges of fair value were as follows: 2016 2015 2014 (in thousands) Derivative—interest rate swaps: Interest income $ 320 $ 176 $ (13 ) Interest expense 6,670 1,400 9,380 Hedged item—loans, deposits and long-term borrowings: Interest income $ (320 ) $ (176 ) $ 13 Interest expense (6,645 ) (1,473 ) (9,449 )
Gains (Losses) Related to Derivative Instruments Not Designated as Hedging Instruments	Net gains (losses) included in the consolidated statements of income related to derivative instruments not designated as hedging instruments were as follows: 2016 2015 2014 (in thousands) Non-designated hedge interest rate derivatives Other non-interest expense $ 690 $ 158 $ (214 )

Balance Sheet Offsetting (Table

Balance Sheet Offsetting (Tables)	12 Months Ended
	Dec. 31, 2016
Offsetting [Abstract]
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, 2016 and 2015 . Gross Amounts Not Offset Gross Amounts Recognized Gross Amounts Offset Net Amounts Presented Financial Instruments Cash Collateral Net Amount (in thousands) December 31, 2016 Assets: Interest rate caps and swaps $ 26,087 $ — $ 26,087 $ (5,268 ) $ — $ 20,819 Liabilities: Interest rate caps and swaps $ 41,911 $ — $ 41,911 $ (5,268 ) $ (36,643 ) (1) $ — Repurchase agreements 165,000 — 165,000 — (165,000 ) (2) — Total $ 206,911 $ — $ 206,911 $ (5,268 ) $ (201,643 ) $ — December 31, 2015 Assets: Interest rate caps and swaps $ 33,570 $ — $ 33,570 $ (8,942 ) $ — $ 24,628 Liabilities: Interest rate caps and swaps $ 50,752 $ — $ 50,752 $ (8,942 ) $ (41,810 ) (1) $ — Repurchase agreements 475,000 — 475,000 — (475,000 ) (2) — Total $ 525,752 $ — $ 525,752 $ (8,942 ) $ (516,810 ) $ — (1) Represents the amount of collateral posted with counterparties that offsets net liabilities at December 31, 2016 and 2015 , respectively. Actual cash collateral posted with counterparties totaled $52.4 million and $53.0 million at December 31, 2016 and 2015 , respectively. (2) Represents the fair value of non-cash pledged investment securities.
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, 2016 and 2015 . Gross Amounts Not Offset Gross Amounts Recognized Gross Amounts Offset Net Amounts Presented Financial Instruments Cash Collateral Net Amount (in thousands) December 31, 2016 Assets: Interest rate caps and swaps $ 26,087 $ — $ 26,087 $ (5,268 ) $ — $ 20,819 Liabilities: Interest rate caps and swaps $ 41,911 $ — $ 41,911 $ (5,268 ) $ (36,643 ) (1) $ — Repurchase agreements 165,000 — 165,000 — (165,000 ) (2) — Total $ 206,911 $ — $ 206,911 $ (5,268 ) $ (201,643 ) $ — December 31, 2015 Assets: Interest rate caps and swaps $ 33,570 $ — $ 33,570 $ (8,942 ) $ — $ 24,628 Liabilities: Interest rate caps and swaps $ 50,752 $ — $ 50,752 $ (8,942 ) $ (41,810 ) (1) $ — Repurchase agreements 475,000 — 475,000 — (475,000 ) (2) — Total $ 525,752 $ — $ 525,752 $ (8,942 ) $ (516,810 ) $ — (1) Represents the amount of collateral posted with counterparties that offsets net liabilities at December 31, 2016 and 2015 , respectively. Actual cash collateral posted with counterparties totaled $52.4 million and $53.0 million at December 31, 2016 and 2015 , respectively. (2) Represents the fair value of non-cash pledged investment securities.

Regulatory and Capital Requir46

Regulatory and Capital Requirements (Tables)	12 Months Ended
	Dec. 31, 2016
Banking and Thrift [Abstract]
Schedule of Actual Capital Positions and Ratios under Banking Regulations	The following table presents Valley’s and Valley National Bank’s actual capital positions and ratios under the Basel III risk-based capital guidelines at December 31, 2016 and 2015 : Actual Minimum Capital Requirements To Be Well Capitalized Under Prompt Corrective Action Provision Amount Ratio Amount Ratio Amount Ratio ($ in thousands) As of December 31, 2016 Total Risk-based Capital Valley $ 2,084,531 12.15 % $ 1,480,006 8.625 % N/A N/A Valley National Bank 2,023,857 11.82 1,476,767 8.625 $ 1,712,193 10.00 % Common Equity Tier 1 Capital Valley 1,590,825 9.27 879,424 5.125 N/A N/A Valley National Bank 1,807,201 10.55 877,499 5.125 1,112,926 6.50 Tier 1 Risk-based Capital Valley 1,698,767 9.90 1,136,816 6.625 N/A N/A Valley National Bank 1,807,201 10.55 1,134,328 6.625 1,369,755 8.00 Tier 1 Leverage Capital Valley 1,698,767 7.74 878,244 4.00 N/A N/A Valley National Bank 1,807,201 8.25 876,026 4.00 1,095,032 5.00 As of December 31, 2015 Total Risk-based Capital Valley $ 1,910,304 12.02 % $ 1,271,171 8.00 % N/A N/A Valley National Bank 1,826,420 11.53 1,266,942 8.00 $ 1,583,677 10.00 % Common Equity Tier 1 Capital Valley 1,431,973 9.01 715,034 4.50 N/A N/A Valley National Bank 1,618,053 10.22 712,655 4.50 1,029,390 6.50 Tier 1 Risk-based Capital Valley 1,543,937 9.72 953,378 6.00 N/A N/A Valley National Bank 1,618,053 10.22 950,206 6.00 1,266,942 8.00 Tier 1 Leverage Capital Valley 1,543,937 7.90 781,388 4.00 N/A N/A Valley National Bank 1,618,053 8.29 780,831 4.00 976,039 5.00

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Schedule of Comprehensive Income	The following table presents the tax effects allocated to each component of other comprehensive income (loss) for the years ended December 31, 2016 , 2015 and 2014 . Components of other comprehensive income (loss) include changes in net unrealized gains and losses on securities available for sale (including the non-credit portion of other-than-temporary impairment charges relating to certain securities during the period); unrealized gains and losses on derivatives used in cash flow hedging relationships; and the pension benefit adjustment for the unfunded portion of various employee, officer and director pension plans. 2016 2015 2014 Before Tax Tax Effect After Tax Before Tax Tax Effect After Tax Before Tax Tax Effect After Tax (in thousands) Unrealized gains and losses on available for sale (AFS) securities Net (losses) gains arising during the period $ (7,294 ) $ 3,001 $ (4,293 ) $ (3,458 ) $ 1,458 $ (2,000 ) $ 33,329 $ (13,931 ) $ 19,398 Less reclassification adjustment for net gains included in net income (1) (777 ) 312 (465 ) (2,487 ) 1,041 (1,446 ) (745 ) 312 (433 ) Net change (8,071 ) 3,313 (4,758 ) (5,945 ) 2,499 (3,446 ) 32,584 (13,619 ) 18,965 Non-credit impairment losses on securities available for sale and held to maturity Net change in non-credit impairment losses on securities 719 (302 ) 417 (416 ) 175 (241 ) 2,299 (965 ) 1,334 Less reclassification adjustment for accretion of credit impairment losses included in net income (2) (921 ) 382 (539 ) (728 ) 304 (424 ) (661 ) 278 (383 ) Net change (202 ) 80 (122 ) (1,144 ) 479 (665 ) 1,638 (687 ) 951 Unrealized gains and losses on derivatives (cash flow hedges) Net (losses) gains arising during the period (4,035 ) 1,574 (2,461 ) (12,360 ) 5,121 (7,239 ) (20,910 ) 8,763 (12,147 ) Less reclassification adjustment for net losses included in net income (3) 13,034 (5,393 ) 7,641 7,075 (2,948 ) 4,127 6,663 (2,777 ) 3,886 Net change 8,999 (3,819 ) 5,180 (5,285 ) 2,173 (3,112 ) (14,247 ) 5,986 (8,261 ) Defined benefit pension plan Net gains (losses) arising during the period 5,837 (2,539 ) 3,298 6,030 (2,586 ) 3,444 (27,902 ) 11,695 (16,207 ) Amortization of prior service cost (4) (300 ) 119 (181 ) 206 (89 ) 117 305 (128 ) 177 Amortization of net loss (4) 294 (109 ) 185 790 (328 ) 462 226 (94 ) 132 Net change 5,831 (2,529 ) 3,302 7,026 (3,003 ) 4,023 (27,371 ) 11,473 (15,898 ) Total other comprehensive income (loss) $ 6,557 $ (2,955 ) $ 3,602 $ (5,348 ) $ 2,148 $ (3,200 ) $ (7,396 ) $ 3,153 $ (4,243 ) (1) Included in gains on securities transactions, net. (2) Included in interest and dividends on investment securities (taxable). (3) Included in interest expense. (4) Included in the computation of net periodic pension cost. See Note 12 for details.
Schedule of Accumulated Other Comprehensive Loss	The following table presents the after-tax changes in the balances of each component of accumulated other comprehensive loss for the years ended December 31, 2016 , 2015 and 2014 : Components of Accumulated Other Comprehensive Loss Total Accumulated Other Comprehensive Loss Unrealized Gains and Losses on AFS Securities Non-credit Impairment Losses on Securities Unrealized Gains and Losses on Derivatives Defined Benefit Pension Plan (in thousands) Balance-December 31, 2013 $ (20,855 ) $ (806 ) $ (6,271 ) $ (10,320 ) $ (38,252 ) Other comprehensive income (loss) before reclassifications 19,398 1,334 (12,147 ) (16,207 ) (7,622 ) Amounts reclassified from other comprehensive income (loss) (433 ) (383 ) 3,886 309 3,379 Other comprehensive income (loss), net 18,965 951 (8,261 ) (15,898 ) (4,243 ) Balance-December 31, 2014 (1,890 ) 145 (14,532 ) (26,218 ) (42,495 ) Other comprehensive (loss) income before reclassifications (2,000 ) (241 ) (7,239 ) 3,444 (6,036 ) Amounts reclassified from other comprehensive (loss) income (1,446 ) (424 ) 4,127 579 2,836 Other comprehensive (loss) income, net (3,446 ) (665 ) (3,112 ) 4,023 (3,200 ) Balance-December 31, 2015 (5,336 ) (520 ) (17,644 ) (22,195 ) (45,695 ) Other comprehensive (loss) income before reclassifications (4,293 ) 417 (2,461 ) 3,298 (3,039 ) Amounts reclassified from other comprehensive (loss) income (465 ) (539 ) 7,641 4 6,641 Other comprehensive (loss) income, net (4,758 ) (122 ) 5,180 3,302 3,602 Balance-December 31, 2016 $ (10,094 ) $ (642 ) $ (12,464 ) $ (18,893 ) $ (42,093 )

Quarterly Financial Data (Table

Quarterly Financial Data (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Summary of Quarterly Financial Data	Quarters Ended 2016 March 31 June 30 September 30 December 31 (in thousands, except for share data) Interest income $ 185,597 $ 189,028 $ 191,203 $ 201,095 Interest expense 37,444 37,573 37,057 36,700 Net interest income 148,153 151,455 154,146 164,395 Provision for credit losses 800 1,429 5,840 3,800 Non-interest income: Gains on sales of loans, net 1,795 3,105 4,823 12,307 Other non-interest income 19,653 21,159 20,030 20,353 Non-interest expense: Loss on extinguishment of debt — 315 — — Amortization of tax credit investments 7,264 7,646 6,450 13,384 Other non-interest expense 110,961 111,842 106,818 111,445 Income before income taxes 50,576 54,487 59,891 68,426 Income tax expense 14,389 15,460 17,049 18,336 Net income 36,187 39,027 42,842 50,090 Dividend on preferred stock 1,797 1,797 1,797 1,797 Net income available to common shareholders 34,390 37,230 41,045 48,293 Earnings per common share: Basic $ 0.14 $ 0.15 $ 0.16 $ 0.19 Diluted 0.14 0.15 $ 0.16 0.19 Cash dividends declared per common share 0.11 0.11 0.11 0.11 Weighted average number of common shares outstanding: Basic 254,075,349 254,381,170 254,473,994 256,422,437 Diluted 254,347,420 254,771,213 254,940,307 256,952,036 Quarters Ended 2015 March 31 June 30 September 30 December 31 (in thousands, except for share data) Interest income $ 170,985 $ 175,754 $ 174,690 $ 185,594 Interest expense 38,899 39,577 40,730 37,548 Net interest income 132,086 136,177 133,960 148,046 Provision for credit losses — 4,500 94 3,507 Non-interest income: Gains on sales of loans, net 598 422 2,014 1,211 Other non-interest income 18,047 19,778 18,905 22,827 Non-interest expense: Loss on extinguishment of debt — — — 51,129 Amortization of tax credit investments 4,496 4,511 5,224 13,081 Other non-interest expense 103,622 102,901 103,428 110,683 Income before income taxes 42,613 44,465 46,133 (6,316 ) Income tax expense 12,272 12,474 10,179 (10,987 ) Net income 30,341 31,991 35,954 4,671 Dividend on preferred stock — — 2,017 1,796 Net income available to common shareholders 30,341 31,991 33,937 2,875 Earnings per common share: Basic $ 0.13 $ 0.14 $ 0.15 $ 0.01 Diluted 0.13 0.14 0.15 0.01 Cash dividends declared per common share 0.11 0.11 0.11 0.11 Weighted average number of common shares outstanding: Basic 232,338,775 232,565,404 232,737,953 239,916,562 Diluted 232,341,921 232,586,616 232,780,219 239,972,546

Parent Company Information (Tab

Parent Company Information (Tables)	12 Months Ended
	Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Schedule of Condensed Statements of Financial Condition	Condensed Statements of Financial Condition December 31, 2016 2015 (in thousands) Assets Cash $ 68,927 $ 63,330 Interest bearing deposits with banks 82 135 Investment securities available for sale 239 806 Investments in and receivables due from subsidiaries 2,591,982 2,398,784 Other assets 36,188 61,365 Total Assets $ 2,697,418 $ 2,524,420 Liabilities and Shareholders’ Equity Dividends payable to shareholders $ 29,477 $ 28,054 Long-term borrowings 236,731 230,573 Junior subordinated debentures issued to capital trusts 41,577 41,414 Accrued expenses and other liabilities 12,477 17,288 Shareholders’ equity 2,377,156 2,207,091 Total Liabilities and Shareholders’ Equity $ 2,697,418 $ 2,524,420
Schedule of Condensed Statements of Income	Condensed Statements of Income Years Ended December 31, 2016 2015 2014 (in thousands) Income Dividends from subsidiary $ 90,000 $ 110,000 $ 110,000 Income from subsidiary 4,550 2,363 — Gains on securities transactions, net 239 — — Other interest and income 34 211 436 Total Income 94,823 112,574 110,436 Total Expenses 33,604 20,578 11,172 Income before income tax benefit and equity in undistributed (losses) earnings of subsidiary 61,219 91,996 99,264 Income tax benefit (23,349 ) (21,939 ) (3,245 ) Income before equity in undistributed earnings (losses) of subsidiary 84,568 113,935 102,509 Equity in undistributed earnings (losses) of subsidiary 83,578 (10,978 ) 13,663 Net Income 168,146 102,957 116,172 Dividends on preferred stock 7,188 3,813 — Net Income Available to Common Shareholders $ 160,958 $ 99,144 $ 116,172
Schedule of Condensed Statements of Cash Flows	Condensed Statements of Cash Flows Years Ended December 31, 2016 2015 2014 (in thousands) Cash flows from operating activities: Net Income $ 168,146 $ 102,957 $ 116,172 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed (earnings) losses of subsidiary (83,578 ) 10,978 (13,663 ) Depreciation and amortization — — 18 Stock-based compensation 10,032 7,575 7,489 Net amortization of premiums and accretion of discounts on securities 163 162 163 Gains on securities transactions, net (239 ) — — Net change in: Other assets 8,007 (41,452 ) 6,632 Accrued expenses and other liabilities 18,381 9,604 (1,851 ) Net cash provided by operating activities 120,912 89,824 114,960 Cash flows from investing activities: Investment securities available for sale: Sales 739 49 46 Purchases — — (500 ) Cash and cash equivalents acquired in acquisitions — 109 14,776 Capital contributions to subsidiary (106,000 ) (115,000 ) — Subordinated debt issued by subsidiary — (100,000 ) — Net cash (used in) provided by investing activities (105,261 ) (214,842 ) 14,322 Cash flows from financing activities: Proceeds from issuance of long-term borrowings, net — 98,897 — Proceeds from issuance of preferred stock, net — 111,590 — Dividends paid to preferred shareholders (7,188 ) (3,813 ) — Dividends paid to common shareholders (111,813 ) (102,279 ) (88,119 ) Purchase of common shares to treasury (3,191 ) (2,108 ) (1,688 ) Common stock issued, net 112,085 7,898 5,096 Net cash (used in) provided by financing activities (10,107 ) 110,185 (84,711 ) Net change in cash and cash equivalents 5,544 (14,833 ) 44,571 Cash and cash equivalents at beginning of year 63,465 78,298 33,727 Cash and cash equivalents at end of year $ 69,009 $ 63,465 $ 78,298

Business Segments (Tables)

Business Segments (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Schedule of Financial Data for Business Segments	The following tables represent the financial data for Valley’s four business segments for the years ended December 31, 2016 , 2015 and 2014 : Year Ended December 31, 2016 Consumer Lending Commercial Lending Investment Management Corporate and Other Adjustments Total ($ in thousands) Average interest earning assets (unaudited) $ 5,081,798 $ 11,318,947 $ 3,428,567 $ — $ 19,829,312 Interest income $ 176,929 $ 509,376 $ 89,378 $ (8,760 ) $ 766,923 Interest expense 35,175 78,347 23,732 11,520 148,774 Net interest income (loss) 141,754 431,029 65,646 (20,280 ) 618,149 Provision for credit losses 905 10,964 — — 11,869 Net interest income (loss) after provision for credit losses 140,849 420,065 65,646 (20,280 ) 606,280 Non-interest income 63,443 3,292 6,694 29,796 103,225 Non-interest expense 62,721 70,145 1,281 341,978 476,125 Internal expense transfer 71,578 160,198 48,475 (280,251 ) — Income (loss) before income taxes $ 69,993 $ 193,014 $ 22,584 $ (52,211 ) $ 233,380 Return on average interest earning assets (pre-tax) (unaudited) 1.38 % 1.71 % 0.66 % N/A 1.18 % Year Ended December 31, 2015 Consumer Lending Commercial Lending Investment Management Corporate and Other Adjustments Total ($ in thousands) Average interest earning assets (unaudited) $ 4,764,306 $ 9,682,714 $ 2,978,484 $ — $ 17,425,504 Interest income $ 170,569 $ 463,062 $ 81,669 $ (8,277 ) $ 707,023 Interest expense 39,787 80,861 24,873 11,233 156,754 Net interest income (loss) 130,782 382,201 56,796 (19,510 ) 550,269 Provision for credit losses 1,153 6,948 — — 8,101 Net interest income (loss) after provision for credit losses 129,629 375,253 56,796 (19,510 ) 542,168 Non-interest income 45,306 744 6,815 30,937 83,802 Non-interest expense 59,794 68,156 1,074 370,051 499,075 Internal expense transfer 72,441 146,463 45,460 (264,364 ) — Income (loss) before income taxes $ 42,700 $ 161,378 $ 17,077 $ (94,260 ) $ 126,895 Return on average interest earning assets (pre-tax) (unaudited) 0.90 % 1.67 % 0.57 % N/A 0.73 % Year Ended December 31, 2014 Consumer Lending Commercial Lending Investment Management Corporate and Other Adjustments Total ($ in thousands) Average interest earning assets (unaudited) $ 4,122,468 $ 7,959,215 $ 2,959,100 $ — $ 15,040,783 Interest income $ 154,078 $ 399,192 $ 91,689 $ (8,356 ) $ 636,603 Interest expense 41,343 79,820 29,676 11,007 161,846 Net interest income (loss) 112,735 319,372 62,013 (19,363 ) 474,757 Provision for credit losses 438 1,446 — — 1,884 Net interest income (loss) after provision for credit losses 112,297 317,926 62,013 (19,363 ) 472,873 Non-interest income 40,611 (19,624 ) 6,392 50,237 77,616 Non-interest expense 59,051 58,142 1,369 284,693 403,255 Internal expense transfer 65,477 126,465 47,060 (239,002 ) — Income (loss) before income taxes $ 28,380 $ 113,695 $ 19,976 $ (14,817 ) $ 147,234 Return on average interest earning assets (pre-tax) (unaudited) 0.69 % 1.43 % 0.68 % N/A 0.98 %

Summary of Significant Accoun51

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) shares in Millions	Jun. 19, 2015	Jun. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Summary Of Significant Accounting Policies [Line Items]
Percentage of preferred stock issued by each REIT - less than			20.00%
Cash reserve or deposits			$ 113,800,000	$ 59,900,000
Allowance for loan losses			114,419,000	106,178,000	$ 102,353,000
FDIC loss-share receivable			7,200,000	8,300,000
OREO and repossessed assets total			10,600,000	19,000,000
Foreclosed assets acquired in FDIC-assisted transactions			588,000	$ 5,000,000
Foreclosed residential real estate properties			1,600,000
Properties for which formal foreclosure proceedings are in process			$ 7,100,000
Anti-dilutive common stock options and warrants			4	4.7	6.2
Series A Preferred Stock
Summary Of Significant Accounting Policies [Line Items]
Stock issued, shares	4.6	4.6
Minimum
Summary Of Significant Accounting Policies [Line Items]
Premises and equipment, useful life			3 years
Maximum
Summary Of Significant Accounting Policies [Line Items]
Premises and equipment, useful life			40 years
Commercial loans | Minimum
Summary Of Significant Accounting Policies [Line Items]
Number of days past due of loans to be full or partial charged-off			90 days
Commercial loans | Maximum
Summary Of Significant Accounting Policies [Line Items]
Number of days past due of loans to be full or partial charged-off			120 days
Residential loans and home equity loans
Summary Of Significant Accounting Policies [Line Items]
Number of days past due of loans to be full or partial charged-off			120 days
Automobile
Summary Of Significant Accounting Policies [Line Items]
Number of days past due of loans to be fully charged-off			120 days
Unsecured consumer loans
Summary Of Significant Accounting Policies [Line Items]
Number of days past due of loans to be fully charged-off			150 days
First United Bancorp, Inc. | Park Avenue Bank Acquisition
Summary Of Significant Accounting Policies [Line Items]
FDIC loss share coverage percentage up to first tranche			95.00%
First United Bancorp, Inc. | Liberty Pointe Bank Acquisition
Summary Of Significant Accounting Policies [Line Items]
FDIC loss share coverage percentage up to first tranche			80.00%
First United Bancorp, Inc. | The Bank Of Miami
Summary Of Significant Accounting Policies [Line Items]
FDIC loss share coverage percentage up to first tranche			80.00%
First United Bancorp, Inc. | Old Harbor Bank
Summary Of Significant Accounting Policies [Line Items]
FDIC loss share coverage percentage up to first tranche			70.00%
PCI Loans
Summary Of Significant Accounting Policies [Line Items]
Allowance for loan losses			$ 0	$ 0
Commercial and industrial
Summary Of Significant Accounting Policies [Line Items]
Allowance for loan losses			50,820,000	48,767,000	$ 43,676,000
Loans evaluated for impairment			250,000
Trust preferred securities
Summary Of Significant Accounting Policies [Line Items]
Impairment charge part of combined amortized cost of the securities			$ 0	$ 0	$ 0

Summary of Significant Accoun52

Summary of Significant Accounting Policies - Calculation of Both Basic and Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Common Share:
Net income available to common shareholders	$ 48,293	$ 41,045	$ 37,230	$ 34,390	$ 2,875	$ 33,937	$ 31,991	$ 30,341	$ 160,958	$ 99,144	$ 116,172
Basic weighted-average number of common shares outstanding (in shares)	256,422,437	254,473,994	254,381,170	254,075,349	239,916,562	232,737,953	232,565,404	232,338,775	254,841,571	234,405,909	205,716,293
Plus: Common stock equivalents (in shares)									426,765	31,091	0
Diluted weighted-average number of common shares outstanding (in shares)	256,952,036	254,940,307	254,771,213	254,347,420	239,972,546	232,780,219	232,586,616	232,341,921	255,268,336	234,437,000	205,716,293
Earnings per common share:
Basic (in usd per share)	$ 0.19	$ 0.16	$ 0.15	$ 0.14	$ 0.01	$ 0.15	$ 0.14	$ 0.13	$ 0.63	$ 0.42	$ 0.56
Diluted (in usd per share)	$ 0.19	$ 0.16	$ 0.15	$ 0.14	$ 0.01	$ 0.15	$ 0.14	$ 0.13	$ 0.63	$ 0.42	$ 0.56

Business Combinations (Detail)

Business Combinations (Detail) $ in Thousands	Jan. 04, 2016USD ($)	Dec. 01, 2015USD ($)Branchshares	Nov. 01, 2014USD ($)Branchshares	Dec. 31, 2016USD ($)Branchshares	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)shares	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2016USD ($)Branchshares	Dec. 31, 2015USD ($)shares	Dec. 31, 2014USD ($)	Sep. 30, 2014shares
Business Acquisition [Line Items]
Shares of common stock authorized (in shares) | shares				332,023,233				332,023,233					332,023,233	332,023,233
Charge within income tax expense				$ 18,336	$ 17,049	$ 15,460	$ 14,389	$ (10,987)	$ 10,179	$ 12,474	$ 12,272		$ 65,234	$ 23,938	$ 31,062
Florida
Business Acquisition [Line Items]
Number of branches operated | Branch				31									31
Number of branches closed | Branch													5
Masters Coverage Corp.
Business Acquisition [Line Items]
Total consideration for acquisition	$ 1,400
CNL Bancshares, Inc.
Business Acquisition [Line Items]
Total consideration for acquisition		$ 230,000
Assets acquired		1,600,000
Loans acquired		825,000
Deposits acquired		$ 1,200,000
Conversion ratio for shares issued		0.705
Shares issued in acquisition | shares		20,600,000
Merger expenses													$ 1,800
Charge within income tax expense													$ 3,300
CNL Bancshares, Inc. | Florida
Business Acquisition [Line Items]
Number of branches acquired | Branch		16
First United Bancorp, Inc.
Business Acquisition [Line Items]
Total consideration for acquisition			$ 300,000
Assets acquired			$ 1,700,000
Conversion ratio for shares issued			0.89
Shares issued in acquisition | shares			30,700,000
Merger expenses														$ 2,600
Loans			$ 1,200,000
Total deposits			1,400,000
Cash portion of consideration			$ 8,900
Shares of common stock authorized (in shares) | shares																100,000,000
Charge within income tax expense												$ 7,600
First United Bancorp, Inc. | Florida
Business Acquisition [Line Items]
Number of branches acquired | Branch			20

Fair Value Measurement of Ass54

Fair Value Measurement of Assets and Liabilities - Schedule of Assets and Liabilities Measured at Fair Value on Recurring and Non-Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets
Available for sale	$ 1,297,373	$ 1,506,861
Liabilities
Foreclosed assets	10,600	19,000
Loans held for sale (which consist of residential mortgages) carried at fair value	58,200	16,100
Covered other real estate	300	4,200
U.S. Treasury securities
Assets
Available for sale	49,591	549,473
U.S. government agency securities
Assets
Available for sale	23,041	29,963
Obligations of states and political subdivisions
Assets
Available for sale	119,767	124,966
Residential mortgage-backed securities
Assets
Available for sale	1,015,542	696,428
Trust preferred securities
Assets
Available for sale	8,009	8,404
Corporate and other debt securities
Assets
Available for sale	60,565	77,552
Equity securities
Assets
Available for sale	20,858	20,075
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring fair value measurements
Assets
Available for sale	58,961	568,381
Loans held for sale	0	0
Other assets	0	0
Total assets	58,961	568,381
Liabilities
Other liabilities	0	0
Total liabilities	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring fair value measurements | U.S. Treasury securities
Assets
Available for sale	49,591	549,473
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring fair value measurements | U.S. government agency securities
Assets
Available for sale	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring fair value measurements | Obligations of states and political subdivisions
Assets
Available for sale	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring fair value measurements | Residential mortgage-backed securities
Assets
Available for sale	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring fair value measurements | Trust preferred securities
Assets
Available for sale	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring fair value measurements | Corporate and other debt securities
Assets
Available for sale	8,064	17,710
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring fair value measurements | Equity securities
Assets
Available for sale	1,306	1,198
Quoted Prices in Active Markets for Identical Assets (Level 1) | Non-recurring fair value measurements
Liabilities
Collateral dependent impaired loans	0	0
Loan servicing rights	0	0
Foreclosed assets	0	0
Total	0	0
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements
Assets
Available for sale	1,226,524	924,687
Loans held for sale	57,708	16,382
Other assets	29,055	33,774
Total assets	1,313,287	974,843
Liabilities
Other liabilities	44,077	50,844
Total liabilities	44,077	50,844
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | U.S. Treasury securities
Assets
Available for sale	0	0
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | U.S. government agency securities
Assets
Available for sale	23,041	29,963
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Obligations of states and political subdivisions
Assets
Available for sale	119,767	124,966
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Residential mortgage-backed securities
Assets
Available for sale	1,005,589	684,777
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Trust preferred securities
Assets
Available for sale	6,074	6,262
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Corporate and other debt securities
Assets
Available for sale	52,501	59,842
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Equity securities
Assets
Available for sale	19,552	18,877
Significant Other Observable Inputs (Level 2) | Non-recurring fair value measurements
Liabilities
Collateral dependent impaired loans	0	0
Loan servicing rights	0	0
Foreclosed assets	0	0
Total	0	0
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements
Assets
Available for sale	11,888	13,793
Loans held for sale	0	0
Other assets	0	0
Total assets	11,888	13,793
Liabilities
Other liabilities	0	0
Total liabilities	0	0
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | U.S. Treasury securities
Assets
Available for sale	0	0
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | U.S. government agency securities
Assets
Available for sale	0	0
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | Obligations of states and political subdivisions
Assets
Available for sale	0	0
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | Residential mortgage-backed securities
Assets
Available for sale	9,953	11,651
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | Trust preferred securities
Assets
Available for sale	1,935	2,142
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | Corporate and other debt securities
Assets
Available for sale	0	0
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | Equity securities
Assets
Available for sale	0	0
Significant Unobservable Inputs (Level 3) | Non-recurring fair value measurements
Liabilities
Collateral dependent impaired loans	5,385	15,427
Loan servicing rights	6,489	2,571
Foreclosed assets	4,532	16,672
Total	16,406	34,670
Fair Value | Recurring fair value measurements
Assets
Available for sale	1,297,373	1,506,861
Loans held for sale	57,708	16,382
Other assets	29,055	33,774
Total assets	1,384,136	1,557,017
Liabilities
Other liabilities	44,077	50,844
Total liabilities	44,077	50,844
Fair Value | Recurring fair value measurements | U.S. Treasury securities
Assets
Available for sale	49,591	549,473
Fair Value | Recurring fair value measurements | U.S. government agency securities
Assets
Available for sale	23,041	29,963
Fair Value | Recurring fair value measurements | Obligations of states and political subdivisions
Assets
Available for sale	119,767	124,966
Fair Value | Recurring fair value measurements | Residential mortgage-backed securities
Assets
Available for sale	1,015,542	696,428
Fair Value | Recurring fair value measurements | Trust preferred securities
Assets
Available for sale	8,009	8,404
Fair Value | Recurring fair value measurements | Corporate and other debt securities
Assets
Available for sale	60,565	77,552
Fair Value | Recurring fair value measurements | Equity securities
Assets
Available for sale	20,858	20,075
Fair Value | Non-recurring fair value measurements
Liabilities
Collateral dependent impaired loans	5,385	15,427
Loan servicing rights	6,489	2,571
Foreclosed assets	4,532	16,672
Total	$ 16,406	$ 34,670

Fair Value Measurement of Ass55

Fair Value Measurement of Assets and Liabilities - Changes in Level 3 Assets Measured at Fair Value on Recurring Basis (Detail) - Available for sale securities - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of the period	$ 13,793	$ 19,309	$ 28,523
Net (losses) gains included in other comprehensive income	(203)	(1,072)	1,648
Sales	0	(2,674)	(7,718)
Settlements	(1,702)	(1,770)	(3,144)
Balance, end of the period	$ 11,888	$ 13,793	$ 19,309

Fair Value Measurement of Ass56

Fair Value Measurement of Assets and Liabilities - Schedule of Quantitative Information about Level 3 Inputs Used to Measure Fair Value of Available for Sale Securities (Detail) - Significant Unobservable Inputs (Level 3) - Discounted Cash Flow - Residential mortgage-backed securities	12 Months Ended
	Dec. 31, 2016
Fair Value Assets Measured On Recurring Basis [Line Items]
Prepayment rate, Weighted Average of unobservable inputs	19.10%
Default rate, Weighted Average of unobservable inputs	9.00%
Loss severity, Weighted Average of unobservable inputs	60.00%
Minimum
Fair Value Assets Measured On Recurring Basis [Line Items]
Prepayment rate, Range of unobservable inputs	15.00%
Default rate, Range of unobservable inputs	3.60%
Loss severity, Range of unobservable inputs	45.60%
Maximum
Fair Value Assets Measured On Recurring Basis [Line Items]
Prepayment rate, Range of unobservable inputs	22.50%
Default rate, Range of unobservable inputs	33.20%
Loss severity, Range of unobservable inputs	66.00%

Fair Value Measurement of Ass57

Fair Value Measurement of Assets and Liabilities - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)Security	Dec. 31, 2015USD ($)Security	Dec. 31, 2014USD ($)
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value, unobservable inputs, quantitative information for assets measured on non-recurring basis, impaired loans non-current appraisal discount percentage	6.30%
Impaired collateral dependent loans, charge-offs	$ 4,300	$ 5,400
Collateral dependent impaired loans, recorded investment	8,400	15,800
Specific valuation allowance allocations	3,000	352
Reported net carrying amount of impaired loans	$ 5,400	15,400
Valuation of loan servicing rights, discount rate	8.00%
Net impairment (recovery of impairment) on loan servicing rights	$ 611	(303)	$ 88
Foreclosed assets measured at fair value upon initial recognition	4,500	16,700
Allowance for loan losses, charge-offs	1,700	1,600
Loss due to re-measurement of repossessed assets	$ 1,000	$ 2,000	$ 4,700
Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Valuation of loan servicing rights, prepayment rate	0.00%
Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Valuation of loan servicing rights, prepayment rate	27.00%
Trust preferred securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Number of available for sale securities (in security) | Security	2	2
Significant Unobservable Inputs (Level 3) | Residential mortgage-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Number of available for sale securities (in security) | Security	4
Significant Unobservable Inputs (Level 3) | Trust preferred securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Number of available for sale securities (in security) | Security	1

Fair Value Measurement of Ass58

Fair Value Measurement of Assets and Liabilities - Carrying Amounts and Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Interest bearing deposits with banks	$ 171,710	$ 170,225
Investment securities held to maturity	1,924,597	1,621,039
Accrued interest receivable	66,816	63,554
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Deposits with stated maturities	3,138,871	3,157,904
Carrying Amount
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	1,925,572	1,596,385
Carrying Amount | Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Cash and due from banks	220,791	243,575
Interest bearing deposits with banks	171,710	170,225
Accrued interest receivable	66,816	63,554
Federal Reserve Bank and Federal Home Loan Bank stock	147,127	145,068
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Deposits without stated maturities	14,591,837	13,095,647
Short-term borrowings	1,080,960	1,076,991
Accrued interest payable	10,675	13,110
Carrying Amount | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Treasury securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	138,830	138,978
Carrying Amount | Significant Other Observable Inputs (Level 2)
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Deposits with stated maturities	3,138,871	3,157,904
Long-term borrowings	1,433,906	1,810,728
Junior subordinated debentures issued to capital trusts	41,577	41,414
Carrying Amount | Significant Other Observable Inputs (Level 2) | U.S. government agency securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	11,329	12,859
Carrying Amount | Significant Other Observable Inputs (Level 2) | Obligations of states and political subdivisions
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	566,590	504,865
Carrying Amount | Significant Other Observable Inputs (Level 2) | Residential mortgage-backed securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	1,112,460	852,289
Carrying Amount | Significant Other Observable Inputs (Level 2) | Trust preferred securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	59,804	59,785
Carrying Amount | Significant Other Observable Inputs (Level 2) | Corporate and other debt securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	36,559	27,609
Carrying Amount | Significant Unobservable Inputs (Level 3)
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Net loans	17,121,684	15,936,929
Fair Value
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	1,924,597	1,621,039
Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Cash and due from banks	220,791	243,575
Interest bearing deposits with banks	171,710	170,225
Accrued interest receivable	66,816	63,554
Federal Reserve Bank and Federal Home Loan Bank stock	147,127	145,068
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Deposits without stated maturities	14,591,837	13,095,647
Short-term borrowings	1,081,751	1,076,991
Accrued interest payable	10,675	13,110
Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Treasury securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	147,495	149,483
Fair Value | Significant Other Observable Inputs (Level 2)
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Deposits with stated maturities	3,160,572	3,203,389
Long-term borrowings	1,523,386	1,945,741
Junior subordinated debentures issued to capital trusts	45,785	44,127
Fair Value | Significant Other Observable Inputs (Level 2) | U.S. government agency securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	11,464	13,130
Fair Value | Significant Other Observable Inputs (Level 2) | Obligations of states and political subdivisions
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	577,826	527,263
Fair Value | Significant Other Observable Inputs (Level 2) | Residential mortgage-backed securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	1,102,802	855,272
Fair Value | Significant Other Observable Inputs (Level 2) | Trust preferred securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	47,290	46,437
Fair Value | Significant Other Observable Inputs (Level 2) | Corporate and other debt securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	37,720	29,454
Fair Value | Significant Unobservable Inputs (Level 3)
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Net loans	$ 16,756,655	$ 15,824,475

Investment Securities - Amortiz

Investment Securities - Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Investment Securities Held to Maturity (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	$ 1,925,572	$ 1,596,385
Gross Unrealized Gains	31,592	46,217
Gross Unrealized Losses	(32,567)	(21,563)
Fair Value	1,924,597	1,621,039
U.S. Treasury securities
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	138,830	138,978
Gross Unrealized Gains	8,665	10,505
Gross Unrealized Losses	0	0
Fair Value	147,495	149,483
U.S. government agency securities
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	11,329	12,859
Gross Unrealized Gains	135	271
Gross Unrealized Losses	0	0
Fair Value	11,464	13,130
Obligations of states and state agencies
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	252,185	194,547
Gross Unrealized Gains	6,692	10,538
Gross Unrealized Losses	(1,428)	(10)
Fair Value	257,449	205,075
Municipal bonds
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	314,405	310,318
Gross Unrealized Gains	6,438	11,955
Gross Unrealized Losses	(466)	(85)
Fair Value	320,377	322,188
Total obligations of states and political subdivisions
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	566,590	504,865
Gross Unrealized Gains	13,130	22,493
Gross Unrealized Losses	(1,894)	(95)
Fair Value	577,826	527,263
Residential mortgage-backed securities
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	1,112,460	852,289
Gross Unrealized Gains	8,432	11,018
Gross Unrealized Losses	(18,090)	(8,035)
Fair Value	1,102,802	855,272
Trust preferred securities
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	59,804	59,785
Gross Unrealized Gains	40	36
Gross Unrealized Losses	(12,554)	(13,384)
Fair Value	47,290	46,437
Corporate and other debt securities
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	36,559	27,609
Gross Unrealized Gains	1,190	1,894
Gross Unrealized Losses	(29)	(49)
Fair Value	$ 37,720	$ 29,454

Investment Securities - Age of

Investment Securities - Age of Unrealized Losses and Fair Value of Related Securities Held to Maturity (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Schedule of Held-to-Maturity Securities [Line Items]
Less than Twelve Months, Fair Value	$ 820,561	$ 263,042
Less than Twelve Months, Unrealized Losses	(16,343)	(3,042)
More than Twelve Months, Fair Value	160,403	219,966
More than Twelve Months, Unrealized Losses	(16,224)	(18,521)
Total, Fair Value	980,964	483,008
Total, Unrealized Losses	(32,567)	(21,563)
Obligations of states and state agencies
Schedule of Held-to-Maturity Securities [Line Items]
Less than Twelve Months, Fair Value	98,114	6,837
Less than Twelve Months, Unrealized Losses	(1,428)	(5)
More than Twelve Months, Fair Value	0	1,965
More than Twelve Months, Unrealized Losses	0	(5)
Total, Fair Value	98,114	8,802
Total, Unrealized Losses	(1,428)	(10)
Municipal bonds
Schedule of Held-to-Maturity Securities [Line Items]
Less than Twelve Months, Fair Value	27,368	8,814
Less than Twelve Months, Unrealized Losses	(466)	(72)
More than Twelve Months, Fair Value	0	10,198
More than Twelve Months, Unrealized Losses	0	(13)
Total, Fair Value	27,368	19,012
Total, Unrealized Losses	(466)	(85)
Total obligations of states and political subdivisions
Schedule of Held-to-Maturity Securities [Line Items]
Less than Twelve Months, Fair Value	125,482	15,651
Less than Twelve Months, Unrealized Losses	(1,894)	(77)
More than Twelve Months, Fair Value	0	12,163
More than Twelve Months, Unrealized Losses	0	(18)
Total, Fair Value	125,482	27,814
Total, Unrealized Losses	(1,894)	(95)
Residential mortgage-backed securities
Schedule of Held-to-Maturity Securities [Line Items]
Less than Twelve Months, Fair Value	692,108	244,440
Less than Twelve Months, Unrealized Losses	(14,420)	(2,916)
More than Twelve Months, Fair Value	114,505	162,756
More than Twelve Months, Unrealized Losses	(3,670)	(5,119)
Total, Fair Value	806,613	407,196
Total, Unrealized Losses	(18,090)	(8,035)
Trust preferred securities
Schedule of Held-to-Maturity Securities [Line Items]
Less than Twelve Months, Fair Value		0
Less than Twelve Months, Unrealized Losses		0
More than Twelve Months, Fair Value	45,898	45,047
More than Twelve Months, Unrealized Losses	(12,554)	(13,384)
Total, Fair Value	45,898	45,047
Total, Unrealized Losses	(12,554)	(13,384)
Corporate and other debt securities
Schedule of Held-to-Maturity Securities [Line Items]
Less than Twelve Months, Fair Value	2,971	2,951
Less than Twelve Months, Unrealized Losses	(29)	(49)
More than Twelve Months, Fair Value	0	0
More than Twelve Months, Unrealized Losses	0	0
Total, Fair Value	2,971	2,951
Total, Unrealized Losses	$ (29)	$ (49)

Investment Securities - Additio

Investment Securities - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016USD ($)Security	Dec. 31, 2015USD ($)Security	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Investment Securities [Line Items]
Number of security positions in the securities held to maturity portfolio in an unrealized loss position | Security	132	74
Held to maturity, fair value	$ 1,925,572,000	$ 1,596,385,000
Fair value of investments held to maturity pledged as collateral	$ 968,000,000
Weighted-average remaining expected life of residential mortgage-backed securities held to maturity, years	6 years 8 months
Number of security positions in the securities available for sale portfolio in an unrealized loss position | Security	298	291
Amortized cost	$ 1,315,723,000	$ 1,516,937,000
Available for sale	1,297,373,000	1,506,861,000
Gross unrealized losses	22,416,000	$ 16,312,000
Fair value of securities available for sale pledged as collateral	$ 537,400,000
Weighted-average remaining expected life of residential mortgage-backed securities available for sale, years	8 years 7 months
Corporate and other debt securities
Investment Securities [Line Items]
Number of held-to-maturity securities sold (in security) | Security		1
Held to maturity, fair value			$ 9,800,000
Single Issuer Trust Preferred Security | Non-Rated [Member]
Investment Securities [Line Items]
Number of security positions in the securities held to maturity portfolio in an unrealized loss position | Security	4
Trust preferred securities
Investment Securities [Line Items]
Impairment charge part of combined amortized cost of the securities	$ 0	$ 0		$ 0
Three Private Label Mortgage-Backed Securities
Investment Securities [Line Items]
Other-than-temporarily impaired mortgage-backed securities, amortized cost	10,200,000
Other-than-temporarily impaired mortgage-backed securities, fair value	$ 9,900,000
Number of previously impaired securities (in security) | Security	4
Pooled Trust Preferred Securities
Investment Securities [Line Items]
Number of security positions in the securities available for sale portfolio in an unrealized loss position | Security	2
Amortized cost	$ 10,200,000
Available for sale	$ 8,000,000
Pooled Trust Preferred Securities | Investment Grade
Investment Securities [Line Items]
Number of security positions in the securities available for sale portfolio in an unrealized loss position | Security	1
Gross unrealized losses	$ 1,300,000
Trust preferred securities
Investment Securities [Line Items]
Held to maturity, fair value	59,804,000	59,785,000
Amortized cost	10,164,000	10,458,000
Available for sale	8,009,000	8,404,000
Gross unrealized losses	$ 2,155,000	$ 2,054,000
Number of available for sale securities (in security) | Security	2	2
Other-than-temporarily impaired mortgage-backed securities, amortized cost	$ 2,800,000
Other-than-temporarily impaired mortgage-backed securities, fair value	$ 1,900,000
Number of previously impaired securities (in security) | Security	1
Obligations of states and political subdivisions
Investment Securities [Line Items]
Held to maturity, fair value	$ 566,590,000	$ 504,865,000
Amortized cost	120,741,000	125,002,000
Available for sale	119,767,000	124,966,000
Gross unrealized losses	1,191,000	$ 441,000
Obligations of states and political subdivisions | Other Than Temporarily Impaired Securities
Investment Securities [Line Items]
Amortized cost	20,300,000
Available for sale	$ 20,800,000
Investment carrying value percentage	43.00%
Investment carrying value	$ 686,400,000

Investment Securities - Contrac

Investment Securities - Contractual Maturities of Debt Securities Held to Maturity (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Amortized Cost
Due in one year	$ 85,139
Due after one year through five years	191,207
Due after five years through ten years	364,471
Due after ten years	172,295
Residential mortgage-backed securities	1,112,460
Amortized Cost	1,925,572	$ 1,596,385
Fair Value
Due in one year	85,139
Due after one year through five years	199,327
Due after five years through ten years	377,665
Due after ten years	159,664
Residential mortgage-backed securities	1,102,802
Total investment securities held to maturity	$ 1,924,597	$ 1,621,039

Investment Securities - Amort63

Investment Securities - Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Investment Securities Available for Sale (Detail) $ in Thousands	Dec. 31, 2016USD ($)Security	Dec. 31, 2015USD ($)Security
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 1,315,723	$ 1,516,937
Gross Unrealized Gains	4,066	6,236
Gross Unrealized Losses	(22,416)	(16,312)
Available for sale	1,297,373	1,506,861
U.S. Treasury securities
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	51,020	551,173
Gross Unrealized Gains	6	4
Gross Unrealized Losses	(1,435)	(1,704)
Available for sale	49,591	549,473
U.S. government agency securities
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	22,815	29,316
Gross Unrealized Gains	232	665
Gross Unrealized Losses	(6)	(18)
Available for sale	23,041	29,963
Obligations of states and state agencies
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	40,696	44,285
Gross Unrealized Gains	70	196
Gross Unrealized Losses	(424)	(67)
Available for sale	40,342	44,414
Municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	80,045	80,717
Gross Unrealized Gains	147	209
Gross Unrealized Losses	(767)	(374)
Available for sale	79,425	80,552
Total obligations of states and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	120,741	125,002
Gross Unrealized Gains	217	405
Gross Unrealized Losses	(1,191)	(441)
Available for sale	119,767	124,966
Residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	1,029,827	701,764
Gross Unrealized Gains	2,061	3,348
Gross Unrealized Losses	(16,346)	(8,684)
Available for sale	$ 1,015,542	$ 696,428
Trust preferred securities
Schedule of Available-for-sale Securities [Line Items]
Number of available for sale securities (in security) | Security	2	2
Amortized cost	$ 10,164	$ 10,458
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(2,155)	(2,054)
Available for sale	8,009	8,404
Corporate and other debt securities
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	60,651	78,202
Gross Unrealized Gains	436	1,239
Gross Unrealized Losses	(522)	(1,889)
Available for sale	60,565	77,552
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	20,505	21,022
Gross Unrealized Gains	1,114	575
Gross Unrealized Losses	(761)	(1,522)
Available for sale	$ 20,858	$ 20,075

Investment Securities - Age o64

Investment Securities - Age of Unrealized Losses and Fair Value of Related Securities (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Less than Twelve Months, Fair Value	$ 942,713	$ 929,411
Less than Twelve Months, Unrealized Losses	(14,532)	(6,522)
More than Twelve Months, Fair Value	186,670	241,111
More than Twelve Months, Unrealized Losses	(7,884)	(9,790)
Total, Fair Value	1,129,383	1,170,522
Total, Unrealized Losses	(22,416)	(16,312)
U.S. Treasury securities
Schedule of Available-for-sale Securities [Line Items]
Less than Twelve Months, Fair Value	48,660	548,538
Less than Twelve Months, Unrealized Losses	(1,435)	(1,704)
More than Twelve Months, Fair Value	0	0
More than Twelve Months, Unrealized Losses	0	0
Total, Fair Value	48,660	548,538
Total, Unrealized Losses	(1,435)	(1,704)
U.S. government agency securities
Schedule of Available-for-sale Securities [Line Items]
Less than Twelve Months, Fair Value	2,530	3,489
Less than Twelve Months, Unrealized Losses	(4)	(5)
More than Twelve Months, Fair Value	4,034	4,736
More than Twelve Months, Unrealized Losses	(2)	(13)
Total, Fair Value	6,564	8,225
Total, Unrealized Losses	(6)	(18)
Obligations of states and state agencies
Schedule of Available-for-sale Securities [Line Items]
Less than Twelve Months, Fair Value	28,628	24,359
Less than Twelve Months, Unrealized Losses	(404)	(67)
More than Twelve Months, Fair Value	753	0
More than Twelve Months, Unrealized Losses	(20)	0
Total, Fair Value	29,381	24,359
Total, Unrealized Losses	(424)	(67)
Municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Less than Twelve Months, Fair Value	42,573	38,207
Less than Twelve Months, Unrealized Losses	(506)	(128)
More than Twelve Months, Fair Value	11,081	13,551
More than Twelve Months, Unrealized Losses	(261)	(246)
Total, Fair Value	53,654	51,758
Total, Unrealized Losses	(767)	(374)
Total obligations of states and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Less than Twelve Months, Fair Value	71,201	62,566
Less than Twelve Months, Unrealized Losses	(910)	(195)
More than Twelve Months, Fair Value	11,834	13,551
More than Twelve Months, Unrealized Losses	(281)	(246)
Total, Fair Value	83,035	76,117
Total, Unrealized Losses	(1,191)	(441)
Residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Less than Twelve Months, Fair Value	788,030	293,615
Less than Twelve Months, Unrealized Losses	(11,889)	(4,147)
More than Twelve Months, Fair Value	132,718	164,010
More than Twelve Months, Unrealized Losses	(4,457)	(4,537)
Total, Fair Value	920,748	457,625
Total, Unrealized Losses	(16,346)	(8,684)
Trust preferred securities
Schedule of Available-for-sale Securities [Line Items]
Less than Twelve Months, Fair Value		0
Less than Twelve Months, Unrealized Losses		0
More than Twelve Months, Fair Value	8,009	8,404
More than Twelve Months, Unrealized Losses	(2,155)	(2,054)
Total, Fair Value	8,009	8,404
Total, Unrealized Losses	(2,155)	(2,054)
Corporate and other debt securities
Schedule of Available-for-sale Securities [Line Items]
Less than Twelve Months, Fair Value	32,292	21,203
Less than Twelve Months, Unrealized Losses	(294)	(471)
More than Twelve Months, Fair Value	15,192	36,137
More than Twelve Months, Unrealized Losses	(228)	(1,418)
Total, Fair Value	47,484	57,340
Total, Unrealized Losses	(522)	(1,889)
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Less than Twelve Months, Fair Value	0	0
Less than Twelve Months, Unrealized Losses	0	0
More than Twelve Months, Fair Value	14,883	14,273
More than Twelve Months, Unrealized Losses	(761)	(1,522)
Total, Fair Value	14,883	14,273
Total, Unrealized Losses	$ (761)	$ (1,522)

Investment Securities - Contr65

Investment Securities - Contractual Maturities of Investments Securities Available for Sale (Detail) $ in Thousands	Dec. 31, 2016USD ($)
Amortized Cost
Due in one year	$ 18,770
Due after one year through five years	73,904
Due after five years through ten years	114,174
Due after ten years	58,543
Total investment securities available for sale	1,315,723
Fair Value
Due in one year	18,654
Due after one year through five years	74,158
Due after five years through ten years	112,063
Due after ten years	56,098
Total investment securities available for sale	1,297,373
Residential mortgage-backed securities
Amortized Cost
Securities without a single maturity date	1,029,827
Fair Value
Securities without a single maturity date	1,015,542
Equity securities
Amortized Cost
Securities without a single maturity date	20,505
Fair Value
Securities without a single maturity date	$ 20,858

Investment Securities - Changes

Investment Securities - Changes in Credit Loss Component of Cumulative Other-than-Temporary Impairment Losses on Debt Securities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward]
Balance, beginning of period	$ 5,837	$ 8,947	$ 9,990
Accretion of credit loss impairment due to an increase in expected cash flows	(921)	(728)	(661)
Sales	0	(2,382)	(382)
Balance, end of period	$ 4,916	$ 5,837	$ 8,947

Investment Securities - Gross G

Investment Securities - Gross Gains (Losses) Realized on Sales, Maturities and Other Securities Transactions Included in Earnings (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Gross gains, sales transactions	$ 271	$ 3,274	$ 746
Gross losses, sales transactions	(58)	(947)	(2)
Gains on sales transactions, net	213	2,327	744
Gross gains, maturities and other securities transactions	615	293	10
Gross losses, maturities and other securities transactions	(51)	(133)	(9)
Gains (losses) on maturities and other securities transactions, net	564	160	1
Gains on securities transactions, net	$ 777	$ 2,487	$ 745

Loans - Schedule of Loan Portfo

Loans - Schedule of Loan Portfolio Non-Covered and Covered PCI Loans and Non-PCI Loans (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 17,236,103	$ 16,043,107
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,638,195	2,540,491
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	9,544,613	8,179,583
Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	8,719,667	7,424,636
Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	824,946	754,947
Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,867,918	3,130,541
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,185,377	2,192,492
Consumer | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	469,009	511,203
Consumer | Automobile
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,139,227	1,239,313
Consumer | Other consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	577,141	441,976
Non-PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	15,464,601	13,802,636
Non-PCI Loans | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,357,018	2,156,549
Non-PCI Loans | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	8,338,594	6,677,226
Non-PCI Loans | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	7,628,328	6,069,532
Non-PCI Loans | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	710,266	607,694
Non-PCI Loans | Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,684,195	2,912,079
Non-PCI Loans | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,084,794	2,056,782
Non-PCI Loans | Consumer | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	376,213	391,809
Non-PCI Loans | Consumer | Automobile
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,139,082	1,238,826
Non-PCI Loans | Consumer | Other consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	569,499	426,147
PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,771,502	2,240,471
Covered loans	70,400	122,300
PCI Loans | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	281,177	383,942
PCI Loans | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,206,019	1,502,357
PCI Loans | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,091,339	1,355,104
PCI Loans | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	114,680	147,253
PCI Loans | Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	183,723	218,462
PCI Loans | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	100,583	135,710
PCI Loans | Consumer | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	92,796	119,394
PCI Loans | Consumer | Automobile
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	145	487
PCI Loans | Consumer | Other consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 7,642	$ 15,829

Loans - Additional Information

Loans - Additional Information (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-covered loans net of unearned discount and deferred loan fees	$ 15,300,000				$ 3,500,000				$ 15,300,000	$ 3,500,000
Loans	17,236,103,000				16,043,107,000				17,236,103,000	16,043,107,000
Loans transferred to loans held for sale									174,501,000	0	$ 27,329,000
Gains on sales of loans, net	12,307,000	$ 4,823,000	$ 3,105,000	$ 1,795,000	1,211,000	$ 2,014,000	$ 422,000	$ 598,000	22,030,000	4,245,000	1,731,000
Sales of loans									0	0
Net (decrease) increase in expected cash flows									(9,989,000)	57,119,000
FDIC loss-share receivable	$ 7,200,000				8,300,000				7,200,000	8,300,000
Non-interest income, increase (decrease)									$ 1,300,000	3,300,000	20,800,000
Combined loan-to-value ratio home equity loan	75.00%								75.00%
Accrued interest on non-accrual loans									$ 2,100,000	3,500,000	2,200,000
Interest income recognized and classified as non-accrual									207,000	1,300,000	$ 735,000
TDRs not reported as non-accrual loans	$ 85,200,000				77,600,000				85,200,000	77,600,000
Non-performing TDRs	10,600,000				21,000,000				10,600,000	21,000,000
Specific reserves for loan losses									4,800,000	1,400,000
Troubled debt restructuring, charge-offs									$ 0	320,000
Number of days loans placed on non-accrual status									90 days
PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,771,502,000				2,240,471,000				$ 1,771,502,000	2,240,471,000
Covered loans	70,400,000				122,300,000				70,400,000	122,300,000
PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,900,000,000				2,400,000,000				1,900,000,000	2,400,000,000
Credit card
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unsecured loans	7,000,000				7,100,000				7,000,000	7,100,000
Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,867,918,000				3,130,541,000				2,867,918,000	3,130,541,000
Loans transferred to loans held for sale		$ 174,500,000
Gains on sales of loans, net	7,300,000
Residential mortgage | PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	183,723,000				218,462,000				183,723,000	218,462,000
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,638,195,000				2,540,491,000				2,638,195,000	2,540,491,000
Unsecured loans	455,500,000				386,600,000				455,500,000	386,600,000
Impaired loans	250,000								250,000
Commercial and industrial | PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	281,177,000				383,942,000				281,177,000	383,942,000
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,185,377,000				2,192,492,000				2,185,377,000	2,192,492,000
Unsecured loans	20,600,000				18,800,000				20,600,000	18,800,000
Consumer | PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 100,583,000				$ 135,710,000				$ 100,583,000	$ 135,710,000

Loans - Changes in Accretable Y

Loans - Changes in Accretable Yield for Covered Loans (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Balance, beginning of period	$ 415,179	$ 336,208
Acquisition	0	126,930
Accretion	(107,482)	(105,078)
Net (decrease) increase in expected cash flows	(9,989)	57,119
Other, net	(3,194)	0
Balance, end of period	$ 294,514	$ 415,179

Loans - Summary of Related Part

Loans - Summary of Related Party Loans (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Loans and Leases Receivable, Related Parties [Roll Forward]
Outstanding at beginning of year	$ 191,566
New loans and advances	26,736
Repayments	(52,982)
Outstanding at end of year	$ 165,320

Loans - Past Due, Non-Accrual a

Loans - Past Due, Non-Accrual and Current Non-Covered Loans by Loan Portfolio Class (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	$ 37,508	$ 62,100
Total Past Due Loans	94,221	88,240
Current Non-PCI Loans	15,370,380	13,714,396
Total Non-PCI Loans	15,464,601	13,802,636
30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	34,878	18,509
60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	18,363	5,575
Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	3,472	2,056
Commercial and industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	8,465	10,913
Total Past Due Loans	20,322	15,570
Current Non-PCI Loans	2,336,696	2,140,979
Total Non-PCI Loans	2,357,018	2,156,549
Commercial and industrial | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	6,705	3,920
Commercial and industrial | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	5,010	524
Commercial and industrial | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	142	213
Commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	15,794	31,051
Total Past Due Loans	37,987	38,541
Current Non-PCI Loans	8,300,607	6,638,685
Total Non-PCI Loans	8,338,594	6,677,226
Commercial real estate | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	11,971	4,560
Commercial real estate | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	8,642	2,799
Commercial real estate | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	1,580	131
Commercial real estate | Commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	15,079	24,888
Total Past Due Loans	30,089	27,703
Current Non-PCI Loans	7,598,239	6,041,829
Total Non-PCI Loans	7,628,328	6,069,532
Commercial real estate | Commercial real estate | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	5,894	2,684
Commercial real estate | Commercial real estate | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	8,642	0
Commercial real estate | Commercial real estate | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	474	131
Commercial real estate | Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	715	6,163
Total Past Due Loans	7,898	10,838
Current Non-PCI Loans	702,368	596,856
Total Non-PCI Loans	710,266	607,694
Commercial real estate | Construction | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	6,077	1,876
Commercial real estate | Construction | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	0	2,799
Commercial real estate | Construction | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	1,106	0
Residential mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	12,075	17,930
Total Past Due Loans	29,185	27,741
Current Non-PCI Loans	2,655,010	2,884,338
Total Non-PCI Loans	2,684,195	2,912,079
Residential mortgage | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	12,005	6,681
Residential mortgage | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	3,564	1,626
Residential mortgage | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	1,541	1,504
Consumer loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	1,174	2,206
Total Past Due Loans	6,727	6,388
Current Non-PCI Loans	2,078,067	2,050,394
Total Non-PCI Loans	2,084,794	2,056,782
Consumer loans | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	4,197	3,348
Consumer loans | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	1,147	626
Consumer loans | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	209	208
Consumer loans | Home equity
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	1,028	2,088
Total Past Due Loans	2,372	3,507
Current Non-PCI Loans	373,841	388,302
Total Non-PCI Loans	376,213	391,809
Consumer loans | Home equity | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	929	1,308
Consumer loans | Home equity | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	415	111
Consumer loans | Home equity | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	0	0
Consumer loans | Automobile
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	146	118
Total Past Due Loans	4,249	2,742
Current Non-PCI Loans	1,134,833	1,236,084
Total Non-PCI Loans	1,139,082	1,238,826
Consumer loans | Automobile | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	3,192	1,969
Consumer loans | Automobile | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	723	491
Consumer loans | Automobile | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	188	164
Consumer loans | Other consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	0	0
Total Past Due Loans	106	139
Current Non-PCI Loans	569,393	426,008
Total Non-PCI Loans	569,499	426,147
Consumer loans | Other consumer | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	76	71
Consumer loans | Other consumer | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	9	24
Consumer loans | Other consumer | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	$ 21	$ 44

Loans - Impaired Loans (Detail)

Loans - Impaired Loans (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	$ 36,125	$ 54,928
Recorded Investment With Related Allowance	78,694	77,460
Total Recorded Investment	114,819	132,388
Unpaid Contractual Principal Balance	123,559	145,473
Related Allowance	10,531	8,782
Commercial and industrial
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	3,609	7,863
Recorded Investment With Related Allowance	27,031	17,851
Total Recorded Investment	30,640	25,714
Unpaid Contractual Principal Balance	35,957	33,071
Related Allowance	5,864	3,439
Commercial real estate
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	22,936	38,960
Recorded Investment With Related Allowance	39,353	42,970
Total Recorded Investment	62,289	81,930
Unpaid Contractual Principal Balance	64,264	85,650
Related Allowance	3,872	3,671
Commercial real estate | Commercial real estate
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	21,318	30,113
Recorded Investment With Related Allowance	36,974	37,440
Total Recorded Investment	58,292	67,553
Unpaid Contractual Principal Balance	60,267	71,263
Related Allowance	3,612	3,354
Commercial real estate | Construction
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	1,618	8,847
Recorded Investment With Related Allowance	2,379	5,530
Total Recorded Investment	3,997	14,377
Unpaid Contractual Principal Balance	3,997	14,387
Related Allowance	260	317
Residential mortgage
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	8,398	7,842
Recorded Investment With Related Allowance	9,958	14,770
Total Recorded Investment	18,356	22,612
Unpaid Contractual Principal Balance	19,712	24,528
Related Allowance	725	1,377
Consumer
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	1,182	263
Recorded Investment With Related Allowance	2,352	1,869
Total Recorded Investment	3,534	2,132
Unpaid Contractual Principal Balance	3,626	2,224
Related Allowance	70	295
Consumer | Home equity
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	1,182	263
Recorded Investment With Related Allowance	2,352	1,869
Total Recorded Investment	3,534	2,132
Unpaid Contractual Principal Balance	3,626	2,224
Related Allowance	$ 70	$ 295

Loans - Average Recorded Invest

Loans - Average Recorded Investment and Interest Income Recognized on Impaired Loans (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	$ 125,941	$ 150,291	$ 155,333
Interest Income Recognized	4,291	4,646	5,010
Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	21,340	24,435	26,863
Interest Income Recognized	874	728	812
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	65,423	93,553	95,771
Interest Income Recognized	2,304	2,914	3,035
Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	59,633	77,154	74,256
Interest Income Recognized	2,122	2,380	2,488
Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	5,790	16,399	21,515
Interest Income Recognized	182	534	547
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	36,552	28,451	30,485
Interest Income Recognized	1,045	893	1,114
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	2,626	3,852	2,214
Interest Income Recognized	68	111	49
Consumer | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	2,626	3,852	2,214
Interest Income Recognized	$ 68	$ 111	$ 49

Loans - Pre-Modification and Po

Loans - Pre-Modification and Post-Modification Outstanding Recorded Investments (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)Contract	Dec. 31, 2015USD ($)Contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | Contract	34	33
Pre-Modification Outstanding Recorded Investment	$ 31,354	$ 19,593
Post-Modification Outstanding Recorded Investment	$ 28,872	$ 18,591
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | Contract	19	17
Pre-Modification Outstanding Recorded Investment	$ 18,186	$ 8,409
Post-Modification Outstanding Recorded Investment	$ 16,277	$ 6,793
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | Contract	7	7
Pre-Modification Outstanding Recorded Investment	$ 11,247	$ 7,414
Post-Modification Outstanding Recorded Investment	$ 10,718	$ 8,100
Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | Contract	4	5
Pre-Modification Outstanding Recorded Investment	$ 8,325	$ 6,768
Post-Modification Outstanding Recorded Investment	$ 7,092	$ 6,709
Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | Contract	3	2
Pre-Modification Outstanding Recorded Investment	$ 2,922	$ 646
Post-Modification Outstanding Recorded Investment	$ 3,626	$ 1,391
Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | Contract	7	7
Pre-Modification Outstanding Recorded Investment	$ 1,867	$ 2,659
Post-Modification Outstanding Recorded Investment	$ 1,826	$ 2,603
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | Contract	1	2
Pre-Modification Outstanding Recorded Investment	$ 54	$ 1,111
Post-Modification Outstanding Recorded Investment	$ 51	$ 1,095

Loans - Troubled Debt Restructu

Loans - Troubled Debt Restructurings Subsequently Defaulted (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)Contract	Dec. 31, 2015USD ($)Contract
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	6	4
Recorded Investment | $	$ 1,210	$ 505
Commercial and industrial
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	0	1
Recorded Investment | $	$ 0	$ 129
Commercial real estate
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	2	1
Recorded Investment | $	$ 357	$ 87
Residential mortgage
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	4	1
Recorded Investment | $	$ 853	$ 214
Consumer
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	0	1
Recorded Investment | $	$ 0	$ 75

Loans - Risk Category of Loans

Loans - Risk Category of Loans (Detail) - Non-PCI Loans - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	$ 10,695,612	$ 8,833,775
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	2,357,018	2,156,549
Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	7,628,328	6,069,532
Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	710,266	607,694
Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	10,440,996	8,539,636
Pass | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	2,246,457	2,049,752
Pass | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	7,486,469	5,893,354
Pass | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	708,070	596,530
Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	102,107	148,624
Special Mention | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	44,316	68,243
Special Mention | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	57,591	79,279
Special Mention | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	200	1,102
Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	150,913	143,215
Substandard | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	64,649	36,254
Substandard | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	84,268	96,899
Substandard | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	1,996	10,062
Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	1,596	2,300
Doubtful | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	1,596	2,300
Doubtful | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	0	0
Doubtful | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	$ 0	$ 0

Loans - Recorded Investment in

Loans - Recorded Investment in Loan Classes Based on Payment Activity (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Non-PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans	$ 4,768,989	$ 4,968,861
Non-PCI Loans | Residential mortgage
Financing Receivable, Recorded Investment [Line Items]
Total Loans	2,684,195	2,912,079
Non-PCI Loans | Consumer | Home equity
Financing Receivable, Recorded Investment [Line Items]
Total Loans	376,213	391,809
Non-PCI Loans | Consumer | Automobile
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,139,082	1,238,826
Non-PCI Loans | Consumer | Other consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	569,499	426,147
Non-PCI Loans | Performing Loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans	4,755,740	4,948,725
Non-PCI Loans | Performing Loans | Residential mortgage
Financing Receivable, Recorded Investment [Line Items]
Total Loans	2,672,120	2,894,149
Non-PCI Loans | Performing Loans | Consumer | Home equity
Financing Receivable, Recorded Investment [Line Items]
Total Loans	375,185	389,721
Non-PCI Loans | Performing Loans | Consumer | Automobile
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,138,936	1,238,708
Non-PCI Loans | Performing Loans | Consumer | Other consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	569,499	426,147
Non-PCI Loans | Non-Performing Loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans	13,249	20,136
Non-PCI Loans | Non-Performing Loans | Residential mortgage
Financing Receivable, Recorded Investment [Line Items]
Total Loans	12,075	17,930
Non-PCI Loans | Non-Performing Loans | Consumer | Home equity
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,028	2,088
Non-PCI Loans | Non-Performing Loans | Consumer | Automobile
Financing Receivable, Recorded Investment [Line Items]
Total Loans	146	118
Non-PCI Loans | Non-Performing Loans | Consumer | Other consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,771,502	2,240,471
PCI Loans | Residential mortgage
Financing Receivable, Recorded Investment [Line Items]
Total Loans	183,723	218,462
PCI Loans | Consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	100,583	135,710
PCI Loans | Commercial and industrial
Financing Receivable, Recorded Investment [Line Items]
Total Loans	281,177	383,942
PCI Loans | Commercial real estate | Commercial real estate
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,091,339	1,355,104
PCI Loans | Commercial real estate | Construction
Financing Receivable, Recorded Investment [Line Items]
Total Loans	114,680	147,253
PCI Loans | Performing Loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,744,491	2,201,846
PCI Loans | Performing Loans | Residential mortgage
Financing Receivable, Recorded Investment [Line Items]
Total Loans	179,793	214,713
PCI Loans | Performing Loans | Consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	98,469	129,891
PCI Loans | Performing Loans | Commercial and industrial
Financing Receivable, Recorded Investment [Line Items]
Total Loans	272,483	373,665
PCI Loans | Performing Loans | Commercial real estate | Commercial real estate
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,080,376	1,342,030
PCI Loans | Performing Loans | Commercial real estate | Construction
Financing Receivable, Recorded Investment [Line Items]
Total Loans	113,370	141,547
PCI Loans | Non-Performing Loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans	27,011	38,625
PCI Loans | Non-Performing Loans | Residential mortgage
Financing Receivable, Recorded Investment [Line Items]
Total Loans	3,930	3,749
PCI Loans | Non-Performing Loans | Consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	2,114	5,819
PCI Loans | Non-Performing Loans | Commercial and industrial
Financing Receivable, Recorded Investment [Line Items]
Total Loans	8,694	10,277
PCI Loans | Non-Performing Loans | Commercial real estate | Commercial real estate
Financing Receivable, Recorded Investment [Line Items]
Total Loans	10,963	13,074
PCI Loans | Non-Performing Loans | Commercial real estate | Construction
Financing Receivable, Recorded Investment [Line Items]
Total Loans	$ 1,310	$ 5,706

Allowance for Credit Losses - S

Allowance for Credit Losses - Summary of Allowance for Credit Losses (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Receivables [Abstract]
Allowance for loan losses	$ 114,419	$ 106,178	$ 102,353
Allowance for unfunded letters of credit	2,185	2,189
Total allowance for credit losses	$ 116,604	$ 108,367

Allowance for Credit Losses -80

Allowance for Credit Losses - Summary of Provision for Credit Losses (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Receivables [Abstract]
Provision for loan losses									$ 11,873	$ 7,846	$ 3,445
Provision for unfunded letters of credit									(4)	255	(1,561)
Total provision for credit losses	$ 3,800	$ 5,840	$ 1,429	$ 800	$ 3,507	$ 94	$ 4,500	$ 0	$ 11,869	$ 8,101	$ 1,884

Allowance for Credit Losses -81

Allowance for Credit Losses - Summary of Activity in Allowance for Loan Losses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	$ 106,178	$ 102,353
Loans charged-off	(10,969)	(14,972)
Charged-off loans recovered	7,337	10,951
Net charge-offs	(3,632)	(4,021)
Provision for loan losses	11,873	7,846
Ending balance	114,419	106,178
Commercial and Industrial
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	48,767	43,676
Loans charged-off	(5,990)	(7,928)
Charged-off loans recovered	2,852	7,233
Net charge-offs	(3,138)	(695)
Provision for loan losses	5,191	5,786
Ending balance	50,820	48,767
Commercial Real Estate
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	48,006	42,840
Loans charged-off	(650)	(2,790)
Charged-off loans recovered	2,057	1,759
Net charge-offs	1,407	(1,031)
Provision for loan losses	6,438	6,197
Ending balance	55,851	48,006
Residential Mortgage
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	4,625	5,093
Loans charged-off	(866)	(813)
Charged-off loans recovered	774	421
Net charge-offs	(92)	(392)
Provision for loan losses	(831)	(76)
Ending balance	3,702	4,625
Consumer
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	4,780	5,179
Loans charged-off	(3,463)	(3,441)
Charged-off loans recovered	1,654	1,538
Net charge-offs	(1,809)	(1,903)
Provision for loan losses	1,075	1,504
Ending balance	4,046	4,780
Unallocated
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	0	5,565
Loans charged-off	0	0
Charged-off loans recovered	0	0
Net charge-offs	0	0
Provision for loan losses		(5,565)
Ending balance	$ 0	$ 0

Allowance for Credit Losses -82

Allowance for Credit Losses - Summary of Allocation of Allowance for Loan Losses and Related Loans by Loan Portfolio Segment Disaggregated Based on Impairment Methodology (Detail) - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment, allowance for loan losses	$ 10,531,000	$ 8,782,000
Collectively evaluated for impairment, allowance for loan losses	103,888,000	97,396,000
Allowance for loan losses	114,419,000	106,178,000	$ 102,353,000
Individually evaluated for impairment	114,819,000	132,388,000
Collectively evaluated for impairment	15,349,782,000	13,670,248,000
Total loans	17,236,103,000	16,043,107,000
Loans acquired with discounts related to credit quality
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses	0	0
Total loans	1,771,502,000	2,240,471,000
Commercial and Industrial
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment, allowance for loan losses	5,864,000	3,439,000
Collectively evaluated for impairment, allowance for loan losses	44,956,000	45,328,000
Allowance for loan losses	50,820,000	48,767,000	43,676,000
Individually evaluated for impairment	30,640,000	25,714,000
Collectively evaluated for impairment	2,326,378,000	2,130,835,000
Total loans	2,638,195,000	2,540,491,000
Commercial and Industrial | Loans acquired with discounts related to credit quality
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans	281,177,000	383,942,000
Commercial Real Estate
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment, allowance for loan losses	3,872,000	3,671,000
Collectively evaluated for impairment, allowance for loan losses	51,979,000	44,335,000
Allowance for loan losses	55,851,000	48,006,000	42,840,000
Individually evaluated for impairment	62,289,000	81,930,000
Collectively evaluated for impairment	8,276,305,000	6,595,296,000
Total loans	9,544,613,000	8,179,583,000
Commercial Real Estate | Loans acquired with discounts related to credit quality
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans	1,206,019,000	1,502,357,000
Residential Mortgage
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment, allowance for loan losses	725,000	1,377,000
Collectively evaluated for impairment, allowance for loan losses	2,977,000	3,248,000
Allowance for loan losses	3,702,000	4,625,000	5,093,000
Individually evaluated for impairment	18,356,000	22,612,000
Collectively evaluated for impairment	2,665,839,000	2,889,467,000
Total loans	2,867,918,000	3,130,541,000
Residential Mortgage | Loans acquired with discounts related to credit quality
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans	183,723,000	218,462,000
Consumer
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment, allowance for loan losses	70,000	295,000
Collectively evaluated for impairment, allowance for loan losses	3,976,000	4,485,000
Allowance for loan losses	4,046,000	4,780,000	$ 5,179,000
Individually evaluated for impairment	3,534,000	2,132,000
Collectively evaluated for impairment	2,081,260,000	2,054,650,000
Total loans	2,185,377,000	2,192,492,000
Consumer | Loans acquired with discounts related to credit quality
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans	$ 100,583,000	$ 135,710,000

Premises and Equipment, Net (De

Premises and Equipment, Net (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 601,957	$ 587,096
Accumulated depreciation and amortization	(310,777)	(288,153)
Total premises and equipment, net	291,180	298,943
Depreciation and amortization	24,400	21,100	$ 19,500
Land
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	78,116	80,519
Buildings
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	210,012	211,923
Leasehold improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	73,405	70,314
Furniture and equipment
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 240,424	$ 224,340

Goodwill and Other Intangible84

Goodwill and Other Intangible Assets - Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Goodwill [Roll Forward]
Beginning balance	$ 686,339	$ 575,892
Goodwill from business combinations	4,298	110,447
Ending balance	690,637	686,339
Wealth Management
Goodwill [Roll Forward]
Beginning balance	20,517	20,517
Goodwill from business combinations	701	0
Ending balance	21,218	20,517
Consumer Lending
Goodwill [Roll Forward]
Beginning balance	199,119	168,922
Goodwill from business combinations	984	30,197
Ending balance	200,103	199,119
Commercial Lending
Goodwill [Roll Forward]
Beginning balance	314,260	252,900
Goodwill from business combinations	1,998	61,360
Ending balance	316,258	314,260
Investment Management
Goodwill [Roll Forward]
Beginning balance	152,443	133,553
Goodwill from business combinations	615	18,890
Ending balance	$ 153,058	$ 152,443

Goodwill and Other Intangible85

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Goodwill from business combinations	$ 4,298,000	$ 110,447,000
Goodwill impairment	0	0	$ 0
Impairment of core deposits and intangibles	0	0	0
Amortization expense - other intangible assets	$ 11,300,000	9,200,000	9,900,000
Core deposits
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, years	11 years
Core deposits | State Bancorp, Inc.
Finite-Lived Intangible Assets [Line Items]
Core deposits intangibles from acquisition		19,300,000
Other
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, years	20 years
Intangible assets acquired	$ 660,000
Residential mortgage
Finite-Lived Intangible Assets [Line Items]
Aggregate principal balances of mortgage loans serviced	2,500,000,000	2,100,000,000	2,300,000,000
SBA Loans
Finite-Lived Intangible Assets [Line Items]
Total amount of loans serviced by bank	23,800,000	32,300,000	$ 26,900,000
Wealth Management
Finite-Lived Intangible Assets [Line Items]
Goodwill from business combinations	701,000	$ 0
Segments excluding Wealth Management
Finite-Lived Intangible Assets [Line Items]
Goodwill from business combinations	$ 3,600,000

Goodwill and Other Intangible86

Goodwill and Other Intangible Assets - Other Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	$ 138,593	$ 143,020
Accumulated Amortization	(92,209)	(93,849)
Valuation Allowance	(900)	(289)
Net Intangible Assets	45,484	48,882
Loan servicing rights
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	73,002	75,932
Accumulated Amortization	(52,634)	(59,251)
Valuation Allowance	(900)	(289)
Net Intangible Assets	19,468	16,392
Core deposits
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	61,504	62,714
Accumulated Amortization	(37,562)	(31,934)
Valuation Allowance	0	0
Net Intangible Assets	23,942	30,780
Other
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	4,087	4,374
Accumulated Amortization	(2,013)	(2,664)
Valuation Allowance	0	0
Net Intangible Assets	$ 2,074	$ 1,710

Goodwill and Other Intangible87

Goodwill and Other Intangible Assets - Schedule of Change in Loan Servicing Rights (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Goodwill [Roll Forward]
Balance at beginning of year	$ 16,681	$ 20,446	$ 26,068
Origination of loan servicing rights	8,479	1,696	1,065
Amortization expense	(4,792)	(5,461)	(6,687)
Balance at end of year	20,368	16,681	20,446
Balance at beginning of year	(289)	(592)	(504)
Impairment adjustment	(611)	303	(88)
Balance at end of year	(900)	(289)	(592)
Balance at end of year, net of valuation allowance	$ 19,468	$ 16,392	$ 19,854

Goodwill and Other Intangible88

Goodwill and Other Intangible Assets - Estimated Future Amortization Expense (Detail) $ in Thousands	Dec. 31, 2016USD ($)
Loan servicing rights
Finite-Lived Intangible Assets [Line Items]
2,017	$ 4,888
2,018	3,989
2,019	3,101
2,020	2,417
2,021	1,771
Core deposits
Finite-Lived Intangible Assets [Line Items]
2,017	4,842
2,018	4,215
2,019	3,671
2,020	3,127
2,021	2,582
Other
Finite-Lived Intangible Assets [Line Items]
2,017	280
2,018	249
2,019	235
2,020	220
2,021	$ 206

Deposits - Additional Informati

Deposits - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Banking and Thrift [Abstract]
Certificates of deposit over $100 thousand	$ 1,700	$ 1,700
Interest expense on time deposits of $100 thousand or more	1.5	4	$ 5.9
Deposits from certain directors, executive officers and their affiliates	$ 85.6	$ 57.3

Deposits - Scheduled Maturities

Deposits - Scheduled Maturities of Time Deposits (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Banking and Thrift [Abstract]
2,017	$ 2,122,906
2,018	473,924
2,019	98,763
2,020	147,548
2,021	162,687
Thereafter	133,043
Total time deposits	$ 3,138,871	$ 3,157,904

Borrowed Funds - Schedule of Sh

Borrowed Funds - Schedule of Short-Term Borrowings (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total short-term borrowings	$ 1,080,960	$ 1,076,991
Short-term borrowings
Debt Instrument [Line Items]
Securities sold under agreements to repurchase	298,960	500,991
Federal funds purchased	0	50,000
FHLB advances	782,000	526,000
Total short-term borrowings	$ 1,080,960	$ 1,076,991

Borrowed Funds - Schedule of Lo

Borrowed Funds - Schedule of Long-Term Borrowings (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total long-term borrowings	$ 1,433,906	$ 1,810,728
Unamortized prepayment penalties and other purchase accounting adjustments	18,300	3,600
Deferred issuance costs	1,900	2,200
Long-term borrowings
Debt Instrument [Line Items]
FHLB advances, net	1,031,666	1,272,591
Securities sold under agreements to repurchase	165,000	307,500
Subordinated debt, net	236,731	230,573
Other	509	64
Total long-term borrowings	$ 1,433,906	$ 1,810,728

Borrowed Funds - Additional Inf

Borrowed Funds - Additional Information (Detail) - USD ($)	Sep. 27, 2013	Aug. 31, 2016	Jul. 31, 2015	Jun. 30, 2015	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Sep. 01, 2016	Aug. 05, 2016	May 31, 2016
Debt Instrument [Line Items]
Weighted average interest rate for short-term borrowings					0.65%				0.69%				0.65%	0.69%
Prepaid long-term FHLB advances									$ 625,000,000					$ 625,000,000			$ 355,000,000	$ 87,000,000
Prepaid long-term FHLB stock									220,000,000					220,000,000			$ 50,000,000
Contractual amounts due in year two									795,000,000					795,000,000
Contractual amounts due in year three									50,000,000					50,000,000
Loss on extinguishment of debt					$ 0	$ 0	$ 315,000	$ 0	$ 51,129,000	$ 0	$ 0	$ 0	$ 315,000	$ 51,129,000	$ 10,132,000
Callable FHLB advances with scheduled maturities beyond 2017					10,000,000								10,000,000
Callable FHLB advances interest rates		3.69%							3.72%					3.72%		2.51%
FHLB advances		$ 405,000,000
Prepayment penalties paid to FHLB													20,000,000
Net carrying value of subordinated debentures					136,700,000				$ 130,600,000				136,700,000	$ 130,600,000
Fair value of securities					$ 1,500,000,000				$ 1,400,000,000				$ 1,500,000,000	$ 1,400,000,000
Interest rate swaps
Debt Instrument [Line Items]
Notional amount of terminated derivative		$ 125,000,000
Minimum
Debt Instrument [Line Items]
Callable FHLB advances interest rates					2.27%								2.27%
Maximum
Debt Instrument [Line Items]
Callable FHLB advances interest rates					3.25%								3.25%
Subordinated debentures
Debt Instrument [Line Items]
Subordinated notes, interest rate			5.00%
Debt matured and repaid			$ 100,000,000
Securities sold under agreements to repurchase
Debt Instrument [Line Items]
Weighted average interest rate for long-term borrowings					2.41%				3.35%				2.41%	3.35%
Subordinated notes
Debt Instrument [Line Items]
Subordinated notes				$ 100,000,000							$ 100,000,000
Subordinated notes, interest rate				4.55%
FHLB
Debt Instrument [Line Items]
Weighted average interest rate for long-term borrowings					3.37%				3.96%				3.37%	3.96%
Collateralized letter of credit					$ 100,000,000								$ 100,000,000
Long-term borrowings
Debt Instrument [Line Items]
Subordinated notes					$ 236,731,000				$ 230,573,000				$ 236,731,000	$ 230,573,000
Subordinated debentures
Debt Instrument [Line Items]
Subordinated notes	$ 125,000,000
Subordinated notes, interest rate	5.125%
Subordinated notes due September 2023 | Subordinated debentures
Debt Instrument [Line Items]
Effective interest rate					3.32%								3.32%

Borrowed Funds - Schedule of FH

Borrowed Funds - Schedule of FHLB Repayment (Detail) - Long-term borrowings $ in Thousands	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
2,017	$ 10,000
2,021	840,000
Thereafter	200,000
Total long-term FHLB advances	$ 1,050,000

Borrowed Funds - Schedule of Re

Borrowed Funds - Schedule of Repayment of Long-Term Borrowings for Securities Sold Under Agreements to Repurchase (Detail) - Long-term borrowings - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
2,017	$ 65,000
2,018	50,000
Thereafter	50,000
Securities sold under agreements to repurchase	$ 165,000	$ 307,500

Junior Subordinated Debenture96

Junior Subordinated Debentures Issued to Capital Trusts - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Maximum allowable period of interest deferment	5 years

Junior Subordinated Debenture97

Junior Subordinated Debentures Issued to Capital Trusts - Schedule of Outstanding Junior Subordinated Debentures and Related Trust Preferred Securities Issued by Each Trust (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Carrying value	$ 41,577	$ 41,414
GCB Capital Trust III | 3-month LIBOR
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Annual interest rate spread, percentage	1.40%
Junior Subordinated Debentures: | GCB Capital Trust III
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Carrying value	$ 24,777	24,846
Contractual principal balance	$ 24,743	24,743
Annual interest rate	6.96%
Junior Subordinated Debentures: | State Bancorp Capital Trust I
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Carrying value	$ 8,724	8,624
Contractual principal balance	$ 10,310	10,310
Junior Subordinated Debentures: | State Bancorp Capital Trust I | 3-month LIBOR
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Annual interest rate spread, percentage	3.45%
Junior Subordinated Debentures: | State Bancorp Capital Trust II
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Carrying value	$ 8,076	7,944
Contractual principal balance	$ 10,310	10,310
Junior Subordinated Debentures: | State Bancorp Capital Trust II | 3-month LIBOR
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Annual interest rate spread, percentage	2.85%
Trust Preferred Securities: | GCB Capital Trust III
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Face value	$ 24,000	24,000
Annual interest rate	6.96%
Trust Preferred Securities: | State Bancorp Capital Trust I
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Face value	$ 10,000	10,000
Trust Preferred Securities: | State Bancorp Capital Trust I | 3-month LIBOR
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Annual interest rate spread, percentage	3.45%
Trust Preferred Securities: | State Bancorp Capital Trust II
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Face value	$ 10,000	$ 10,000
Trust Preferred Securities: | State Bancorp Capital Trust II | 3-month LIBOR
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Annual interest rate spread, percentage	2.85%

Benefit Plans - Additional Info

Benefit Plans - Additional Information (Detail) - USD ($)	Jan. 29, 2014	Feb. 24, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Net actuarial loss expected to be recognized as a component of net periodic pension expense				$ 367,000
Discount rate used to compute the obligation				4.33%	4.02%	4.89%
Net periodic pension income				$ (7,564,000)	$ (6,344,000)	$ (5,844,000)
Projected benefit obligation				161,306,000	157,661,000
Salary expense				10,500,000	9,000,000	6,800,000
Expense for contributions to savings and investment plan				$ 6,700,000	$ 7,100,000	$ 6,000,000
Maximum annual contributions based on employee's salary				5.00%	6.00%	6.00%
Maximum annual contributions per employee				$ 13,250
Shares of common stock were available for issuance				8,300,000
Stock-based compensation expense				$ 10,032,000	$ 7,575,000	$ 7,489,000
Unrecognized stock-based compensation				$ 13,800,000
Average remaining vesting, years				2 years 6 months
2016 Plan
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Shares of common stock were available for issuance					2,200,000
2009 Plan
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Shares of common stock were available for issuance					0
Director Restricted Stock Plan
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Additional fees	$ 0
Stock Options and Restricted Stock
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Stock-based compensation expense				$ 10,000,000	$ 8,800,000	7,500,000
Stock awards granted				$ 3,500,000	$ 2,600,000	$ 3,900,000
Stock Options and Restricted Stock | Employee Stock Incentive Plan
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Weighted average grant date fair value (usd per share)				$ 8.32	$ 8.98
Restricted Stock
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Granted (in shares)				544,307	886,427	1,488,960
Vested (in shares)				1,050,293	559,958	524,663
Performance Based Restricted Stock
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Award vesting period				3 years
Granted (in shares)					240,000
Vested (in shares)				53,000	50,000
Performance Based Restricted Stock | Subsequent Event
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Vested (in shares)		85,000
Performance Shares
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Award vesting period				3 years
Compensation costs related to restricted stock awards				$ 2,800,000	$ 2,300,000
Granted (in shares)				431,069	313,212
Performance Shares | Employee Stock Incentive Plan
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Weighted average grant date fair value (usd per share)				$ 8.84
Performance Shares | Vesting based on growth in tangible book value per share plus dividends | Employee Stock Incentive Plan
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Annual vesting percentage				75.00%
Performance Shares | Vesting based on total shareholder return as compared to our peer group | Employee Stock Incentive Plan
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Annual vesting percentage				25.00%
Employer Matching Contribution, Percentage Match One
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Defined contribution plan employee matching percentage				100.00%
Maximum annual contributions based on employee's salary				4.00%
Employer Matching Contribution, Percentage Match Two
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Defined contribution plan employee matching percentage				50.00%
Maximum annual contributions based on employee's salary				2.00%
Minimum | Restricted Stock
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Award vesting period				3 years
Maximum
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Award vesting period				10 years
Maximum | Restricted Stock
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Award vesting period				6 years
Non-qualified plans for former directors
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Projected benefit obligation				$ 3,300,000	$ 3,400,000
Funded plans for former directors
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Projected benefit obligation				1,500,000	1,600,000
Obligation included in other comprehensive loss, net of tax				867,000	1,000,000
Obligation included in other comprehensive loss, tax				614,000	$ 748,000
Non-employee directors | RSUs
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Grant date fair value of awards				$ 50,000
Equity securities
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Target asset allocation for qualified plan, minimum				25.00%
Target asset allocation for qualified plan, maximum				65.00%
Cumulative annual real return				7.00%
Equity securities | Consumer Price Index
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Cumulative annual real return, period				5 years
Equity securities | S&P 500 Index
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Cumulative annual real return, period				3 years
Debt securities
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Target asset allocation for qualified plan, minimum				35.00%
Target asset allocation for qualified plan, maximum				75.00%
Fixed income securities
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Cumulative annual real return				3.00%
Fixed income securities | Consumer Price Index
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Cumulative annual real return, period				5 years
Fixed income securities | Merrill Lynch Intermediate Government/Corporate Index
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Cumulative annual real return, period				3 years
Other Pension Plan, Defined Benefit
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Discount rate used to compute the obligation				4.11%	4.33%
Forecast | Change in Accounting Estimate
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Net periodic pension income			$ 765,000

Benefit Plans - Change in Proje

Benefit Plans - Change in Projected Benefit Obligation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	$ 157,661	$ 176,339
Interest cost	6,681	6,889	$ 6,897
Actuarial loss (gain)	2,047	(17,177)
Benefits paid	(5,546)	(8,390)
Projected benefit obligation at end of year	161,306	157,661	176,339
Change in fair value of plan assets:
Fair value of plan assets at beginning of year	189,414	194,646
Actual return on plan assets	22,424	2,875
Employer contributions	347	283
Benefits paid	(5,546)	(8,390)
Fair value of plan assets at end of year	206,639	189,414	$ 194,646
Asset recognized	45,333	31,753
Accumulated benefit obligation	161,306	157,661
Accrued interest receivable	$ 606	$ 607

Benefit Plans - Component of Ne

Benefit Plans - Component of Net Periodic Pension Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Net actuarial loss	$ 30,140	$ 36,271
Deferred tax benefit	(12,647)	(15,118)
Total	$ 17,493	$ 21,153

Benefit Plans - Accumulated Ben

Benefit Plans - Accumulated Benefit Obligation in Excess of Plan (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Projected benefit obligation	$ 18,286	$ 17,411
Accumulated benefit obligation	18,286	17,411
Fair value of plan assets	$ 0	$ 0

Benefit Plans - Components of N

Benefit Plans - Components of Net Periodic Pension Expense for Qualified and Non-Qualified Plans (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]
Interest cost	$ 6,681	$ 6,889	$ 6,897
Expected return on plan assets	(14,539)	(14,023)	(12,967)
Amortization of net loss	294	790	226
Total net periodic pension income	$ (7,564)	$ (6,344)	$ (5,844)

Benefit Plans - Qualified and N

Benefit Plans - Qualified and Non-Qualified Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income or Loss (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]
Net gain	$ (5,837)	$ (6,030)
Prior service cost	462	0
Amortization of actuarial loss	(294)	(790)	$ (226)
Total recognized in other comprehensive income	(5,669)	(6,820)
Total recognized in net periodic pension income and other comprehensive income/loss (before tax)	$ (13,233)	$ (13,163)

Benefit Plans - Schedule of Exp

Benefit Plans - Schedule of Expected Future Benefit Payments (Detail) $ in Thousands	Dec. 31, 2016USD ($)
Compensation and Retirement Disclosure [Abstract]
2,017	$ 6,847
2,018	7,206
2,019	7,744
2,020	8,081
2,021	8,423
Thereafter	$ 45,462

Benefit Plans - Weighted Averag

Benefit Plans - Weighted Average Discount Rate (Detail)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.33%	4.02%	4.89%
Expected long-term return on plan assets	7.50%	7.50%	7.50%

Benefit Plans - Fair Value Meas

Benefit Plans - Fair Value Measurement (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Investments:
Percent of Total Investments	100.00%	100.00%
Investments	$ 206,033	$ 188,807
Equity securities
Investments:
Percent of Total Investments	43.00%	41.00%
Investments	$ 88,250	$ 76,578
Corporate bonds
Investments:
Percent of Total Investments	21.00%	22.00%
Investments	$ 43,152	$ 41,786
Mutual funds
Investments:
Percent of Total Investments	19.00%	19.00%
Investments	$ 38,975	$ 36,052
U.S. Treasury securities
Investments:
Percent of Total Investments	12.00%	12.00%
Investments	$ 24,910	$ 22,130
Cash and money market funds
Investments:
Percent of Total Investments	5.00%	6.00%
Investments	$ 10,402	$ 11,913
U.S. government agency securities
Investments:
Investments	344	348
Quoted Prices in Active Markets for Identical Assets (Level 1)
Investments:
Investments	162,537	126,756
Quoted Prices in Active Markets for Identical Assets (Level 1) | Equity securities
Investments:
Investments	88,250	76,578
Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate bonds
Investments:
Investments	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Mutual funds
Investments:
Investments	38,975	36,052
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Treasury securities
Investments:
Investments	24,910	2,213
Quoted Prices in Active Markets for Identical Assets (Level 1) | Cash and money market funds
Investments:
Investments	10,402	11,913
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government agency securities
Investments:
Investments	0	0
Significant Other Observable Inputs (Level 2)
Investments:
Investments	43,496	42,134
Significant Other Observable Inputs (Level 2) | Equity securities
Investments:
Investments	0	0
Significant Other Observable Inputs (Level 2) | Corporate bonds
Investments:
Investments	43,152	41,786
Significant Other Observable Inputs (Level 2) | Mutual funds
Investments:
Investments	0	0
Significant Other Observable Inputs (Level 2) | U.S. Treasury securities
Investments:
Investments	0	0
Significant Other Observable Inputs (Level 2) | Cash and money market funds
Investments:
Investments	0	0
Significant Other Observable Inputs (Level 2) | U.S. government agency securities
Investments:
Investments	344	348
Significant Unobservable Inputs (Level 3)
Investments:
Investments	0	0
Significant Unobservable Inputs (Level 3) | Equity securities
Investments:
Investments	0	0
Significant Unobservable Inputs (Level 3) | Corporate bonds
Investments:
Investments	0	0
Significant Unobservable Inputs (Level 3) | Mutual funds
Investments:
Investments	0	0
Significant Unobservable Inputs (Level 3) | U.S. Treasury securities
Investments:
Investments	0	0
Significant Unobservable Inputs (Level 3) | Cash and money market funds
Investments:
Investments	0	0
Significant Unobservable Inputs (Level 3) | U.S. government agency securities
Investments:
Investments	$ 0	$ 0

Benefit Plans - Changes in Rest

Benefit Plans - Changes in Restricted Stock Awards Outstanding (Detail) - Restricted Stock - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at beginning of year (in shares)	2,755,138	2,574,616	1,709,312
Granted (in shares)	544,307	886,427	1,488,960
Vested (in shares)	(1,050,293)	(559,958)	(524,663)
Forfeited (in shares)	(148,336)	(145,947)	(98,993)
Outstanding at end of year (in shares)	2,100,816	2,755,138	2,574,616

Benefit Plans - Stock Options A

Benefit Plans - Stock Options Activity (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Shares
Shares, Outstanding at beginning of year	1,383,365	1,828,591	2,322,593
Shares, Granted	0	100,000	0
Shares, Forfeited or expired	(650,876)	(545,226)	(494,002)
Shares, Outstanding at end of year	732,489	1,383,365	1,828,591
Shares, Exercisable at year-end	632,489	1,283,365	1,828,591
Weighted Average Exercise Price
Weighted Average Exercise Price, Outstanding at beginning of year (in usd per share)	$ 16	$ 17	$ 17
Weighted Average Exercise Price, Granted (in usd per share)	0	11	0
Weighted Average Exercise Price, Forfeited or expired (in usd per share)	18	18	19
Weighted Average Exercise Price, Outstanding at end of year (in usd per share)	14	16	17
Weighted Average Exercise Price, Exercisable at year-end (in usd per share)	$ 14	$ 16	$ 17

Benefit Plans - Stock Options O

Benefit Plans - Stock Options Outstanding (Detail)	12 Months Ended
	Dec. 31, 2016$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of Options Outstanding (in shares) | shares	632,489
Weighted Average Remaining Contractual Life in Years	1 year 7 months 6 days
Weighted Average Exercise Price (in usd per share)	$ 14
$10-14
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, Lower Range Limit (in usd per share)	10
Range of Exercise Prices, Upper Range Limit (in usd per share)	$ 14
Number of Options Outstanding (in shares) | shares	134,681
Weighted Average Remaining Contractual Life in Years	3 years 7 months 6 days
Weighted Average Exercise Price (in usd per share)	$ 12
14-15
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, Lower Range Limit (in usd per share)	14
Range of Exercise Prices, Upper Range Limit (in usd per share)	$ 15
Number of Options Outstanding (in shares) | shares	445,654
Weighted Average Remaining Contractual Life in Years	1 year 1 month 6 days
Weighted Average Exercise Price (in usd per share)	$ 15
15-17
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, Lower Range Limit (in usd per share)	15
Range of Exercise Prices, Upper Range Limit (in usd per share)	$ 17
Number of Options Outstanding (in shares) | shares	3,388
Weighted Average Remaining Contractual Life in Years	1 year 1 month 6 days
Weighted Average Exercise Price (in usd per share)	$ 16
18-19
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, Lower Range Limit (in usd per share)	18
Range of Exercise Prices, Upper Range Limit (in usd per share)	$ 19
Number of Options Outstanding (in shares) | shares	48,766
Weighted Average Remaining Contractual Life in Years	1 month 6 days
Weighted Average Exercise Price (in usd per share)	$ 19

Benefit Plans - Changes in Dire

Benefit Plans - Changes in Director's Restricted Stock Awards (Detail) - Director's Restricted Stock - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Changes in Director's Restricted Stock Awards
Outstanding at beginning of year (in shares)	80,117	98,086	121,792
Vested (in shares)	(24,607)	(17,969)	(23,706)
Outstanding at end of year (in shares)	55,510	80,117	98,086

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Expense (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current expense (benefit):
Federal									$ 25,176	$ 7,978	$ 25,156
State									12,904	(493)	(5,549)
Total current expense									38,080	7,485	19,607
Deferred expense:
Federal									10,658	(7,539)	(13,888)
State									16,496	23,992	25,343
Total deferred expense									27,154	16,453	11,455
Income tax expense	$ 18,336	$ 17,049	$ 15,460	$ 14,389	$ (10,987)	$ 10,179	$ 12,474	$ 12,272	$ 65,234	$ 23,938	$ 31,062

Income Taxes - Summary of Defer

Income Taxes - Summary of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
Allowance for loan losses	$ 47,485	$ 44,382
Depreciation	12,432	15,661
Employee benefits	16,121	16,104
Investment securities, including other-than-temporary impairment losses	17,272	18,697
Net operating loss carryforwards	46,667	57,722
Purchase accounting	33,172	40,585
Other	22,183	21,310
Total deferred tax assets	195,332	214,461
Deferred tax liabilities:
Pension plans	24,575	18,861
Other investments	20,831	15,720
Other	20,418	21,449
Total deferred tax liabilities	65,824	56,030
Net deferred tax asset (included in other assets)	$ 129,508	$ 158,431

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Taxes [Line Items]
Statutory federal income tax rate	35.00%	35.00%	35.00%
Decrease in liability for unrecognized tax benefits within the next twelve months	$ 16.1
Uncertain tax position, accrued interest	4.6	$ 5.2
Federal
Income Taxes [Line Items]
Operating loss carryforwards	77.6
Tax credit carryforward	1.9
Obligations of states and state agencies
Income Taxes [Line Items]
Operating loss carryforwards	514.3
Tax credit carryforward	$ 3.7

Income Taxes - Summary of In114

Income Taxes - Summary of Income Tax Reconciliation (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Federal income tax at expected statutory rate									$ 81,683	$ 44,413	$ 51,532
State income tax expense, net of federal tax effect									19,197	15,274	12,866
Tax-exempt interest, net of interest incurred to carry tax-exempt securities									(5,308)	(4,864)	(4,406)
Bank owned life insurance									(2,343)	(2,385)	(2,237)
Tax credits from securities and other investments									(25,954)	(28,988)	(20,555)
Reduction in reserve for uncertainties									0	0	(6,971)
Other, net									(2,041)	488	833
Income tax expense	$ 18,336	$ 17,049	$ 15,460	$ 14,389	$ (10,987)	$ 10,179	$ 12,474	$ 12,272	$ 65,234	$ 23,938	$ 31,062

Income Taxes - Summary of Recon

Income Taxes - Summary of Reconciliation of Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of Gross Unrecognized Tax Benefits
Beginning balance	$ 19,892	$ 18,647	$ 30,713
Additions based on tax positions related to prior years	3,958	1,245	1,408
Settlements with taxing authorities	(4,820)	0	(9,050)
Reductions due to expiration of statute of limitations	(2,886)	0	(4,424)
Ending balance	$ 16,144	$ 19,892	$ 18,647

Tax Credit Investments Tax Cred

Tax Credit Investments Tax Credit Investments - Affordable Housing Tax Credit Investments, Other Tax Credit Investments, and Related Unfunded Commitments (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Other Assets
Other Assets:
Affordable housing tax credit investments, net	$ 29,567	$ 32,094
Other tax credit investments, net	44,763	70,681
Total tax credit investments, net	74,330	102,775
Other Liabilities
Other Liabilities:
Unfunded affordable housing tax credit commitments	4,850	7,330
Unfunded other tax credit commitments	7,276	12,545
Total unfunded tax credit commitments	$ 12,126	$ 19,875

Tax Credit Investments Tax C117

Tax Credit Investments Tax Credit Investments - Affordable Housing Tax Credit Investments and Other Tax Credit Investments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Affordable housing tax credits and other tax benefits	$ 5,013	$ 4,709	$ 5,296
Other tax credit investment credits and tax benefits	33,294	23,877	14,357
Total reduction in income tax expense	38,307	28,586	19,653
Amortization Recorded in Non-Interest Expenses
Schedule of Equity Method Investments [Line Items]
Affordable housing tax credit investment losses	2,077	2,594	3,184
Affordable housing tax credit investment impairment losses	450	1,321	3,211
Other tax credit investment losses	790	1,079	2,359
Other tax credit investment impairment losses	31,427	22,318	15,442
Total amortization of tax credit investments recorded in non-interest expense	$ 34,744	$ 27,312	$ 24,196

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	1 Months Ended		12 Months Ended
	Aug. 31, 2016USD ($)	Mar. 31, 2012USD ($)	Dec. 31, 2016USD ($)Contract	Dec. 31, 2015USD ($)claim	Dec. 31, 2014USD ($)	Dec. 31, 2013claim	Jun. 30, 2014USD ($)
Commitments And Contingencies [Line Items]
Net rental expense			$ 27,700,000	$ 31,700,000	$ 21,200,000
Net of rental income			4,000,000	3,800,000	$ 3,100,000
Deposits			17,730,708,000	16,253,551,000
Aggregate fair value of net liability position			25,200,000
Collateral posted			52,400,000	53,000,000
Subordinated debentures | Subordinated notes due September 2023
Commitments And Contingencies [Line Items]
Face value			$ 125,000,000
Debt instrument percentage			5.125%
Effective interest rate			3.32%
Derivatives designated as hedging instruments
Commitments And Contingencies [Line Items]
Notional amount of interest rate derivatives			$ 714,999,000	1,040,209,000
Derivatives not designated as hedging instruments:
Commitments And Contingencies [Line Items]
Notional amount of interest rate derivatives			1,322,305,000	727,572,000
Interest rate swaps
Commitments And Contingencies [Line Items]
Notional amount of terminated derivative	$ 125,000,000
Accumulated net after-tax losses related to effective cash flow hedges			12,500,000	17,600,000
Estimated amount of interest rate derivatives to be reclassified to interest expense			8,800,000
Interest rate swaps | Derivatives not designated as hedging instruments:
Commitments And Contingencies [Line Items]
Notional amount of interest rate derivatives			$ 1,075,722,000	654,134,000
Cash flow hedge | Interest rate swaps | Derivatives designated as hedging instruments | Interest Rate Swaps Associated With Prime-Rate Indexed Deposits
Commitments And Contingencies [Line Items]
Number of derivative contracts held (in contract) | Contract			2
Notional amount of interest rate derivatives			$ 100,000,000
Cash flow hedge | Interest rate swaps | Derivatives designated as hedging instruments | Interest Rate Swaps Associated With Prime-Rate Indexed Deposits | Fixed Rate At Approximately Five Point Eleven Percent
Commitments And Contingencies [Line Items]
Fixed interest rate			5.11%
Cash flow hedge | Interest rate swaps | Derivatives designated as hedging instruments | Interest Rate Swaps Due September 27, 2023
Commitments And Contingencies [Line Items]
Number of derivative contracts held (in contract) | Contract			1
Notional amount of derivative asset			$ 125,000,000
Derivative, interest rate cap			7.44%
Cash flow hedge | Interest rate swaps | Derivatives designated as hedging instruments | Interest Rate Swaps Due Between November 2018 And November 2020
Commitments And Contingencies [Line Items]
Number of derivative contracts held (in contract) | Contract			3
Notional amount of derivative asset			$ 300,000,000
Cash flow hedge | Interest rate swaps | Derivatives designated as hedging instruments | Interest Rate Swaps Due Between November 2018 And November 2020 | Minimum
Commitments And Contingencies [Line Items]
Fixed interest rate			2.57%
Cash flow hedge | Interest rate swaps | Derivatives designated as hedging instruments | Interest Rate Swaps Due Between November 2018 And November 2020 | Maximum
Commitments And Contingencies [Line Items]
Fixed interest rate			2.97%
Cash flow hedge | Interest rate swaps | Derivatives designated as hedging instruments | Interest Rate Swaps Due Between March 2019 And September 2020
Commitments And Contingencies [Line Items]
Number of derivative contracts held (in contract) | Contract			4
Notional amount of derivative asset			$ 182,000,000
Cash flow hedge | Interest rate swaps | Derivatives designated as hedging instruments | Interest Rate Swaps Due Between March 2019 And September 2020 | Minimum
Commitments And Contingencies [Line Items]
Fixed interest rate			2.51%
Cash flow hedge | Interest rate swaps | Derivatives designated as hedging instruments | Interest Rate Swaps Due Between March 2019 And September 2020 | Maximum
Commitments And Contingencies [Line Items]
Fixed interest rate			2.88%
Fair value hedge | Interest rate swaps | Derivatives designated as hedging instruments
Commitments And Contingencies [Line Items]
Notional amount of interest rate derivatives			$ 7,999,000	$ 133,209,000			$ 25,000,000
Pending litigation | Merrick Bank Corporation v. Valley National Bank
Commitments And Contingencies [Line Items]
Chargebacks incurred from Direct Air Bankruptcy		$ 26,200,000
Pending litigation | Merrick Bank Corporation v. Valley National Bank | Direct Air
Commitments And Contingencies [Line Items]
Deposits		1,000,000
Pending litigation | American Express Travel Related Services v. Valley National Bank
Commitments And Contingencies [Line Items]
Chargebacks incurred from Direct Air Bankruptcy		$ 3,000,000
Claims dismissed (in claim) | claim				5
Claims filed (in claim) | claim						11

Commitments and Contingencie119

Commitments and Contingencies - Minimum Aggregate Lease Payments (Detail) $ in Thousands	Dec. 31, 2016USD ($)
Leases [Abstract]
Gross Rents, 2017	$ 27,256
Gross Rents, 2018	26,863
Gross Rents, 2019	26,361
Gross Rents, 2020	26,458
Gross Rents, 2021	25,754
Gross Rents, Thereafter	281,310
Gross Rents, Total lease commitments	414,002
Sublease Rents, 2017	2,888
Sublease Rents, 2018	2,260
Sublease Rents, 2019	2,125
Sublease Rents, 2020	2,059
Sublease Rents, 2021	1,972
Sublease Rents, Thereafter	9,631
Sublease Rents, Total lease commitments	20,935
Net Rents, 2017	24,368
Net Rents, 2018	24,603
Net Rents, 2019	24,236
Net Rents, 2020	24,399
Net Rents, 2021	23,782
Net Rents, Thereafter	271,679
Net Rents, Total lease commitments	$ 393,067

Commitments and Contingencie120

Commitments and Contingencies - Summary of Financial Instruments with Off-Balance Sheet Risk (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Commitments to sell loans	$ 147,250	$ 41,860
Standby letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments with off-balance sheet risk	217,695	198,253
Commercial letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Commercial letters of credit	4,960	4,249
Commercial loans | Commitments to extend credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments with off-balance sheet risk	2,855,326	2,554,146
Commercial loans | Loan origination commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments with off-balance sheet risk	560,929	724,236
Home equity | Unused lines of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments with off-balance sheet risk	904,999	822,506
Residential mortgage | Loan origination commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments with off-balance sheet risk	108,063	54,293
Credit card | Unused lines of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments with off-balance sheet risk	$ 49,715	$ 50,532

Commitments and Contingencie121

Commitments and Contingencies - Consolidated Statements of Financial Condition Related to Fair Value of Derivative Financial Instruments (Detail) - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Jun. 30, 2014
Interest rate caps and swaps
Derivative [Line Items]
Other Assets	$ 0	$ 0
Other Liabilities	41,911,000	50,752,000
Derivatives designated as hedging instruments:
Derivative [Line Items]
Notional Amount	714,999,000	1,040,209,000
Derivatives not designated as hedging instruments:
Derivative [Line Items]
Notional Amount	1,322,305,000	727,572,000
Derivatives not designated as hedging instruments: | Interest rate swaps
Derivative [Line Items]
Notional Amount	1,075,722,000	654,134,000
Derivatives not designated as hedging instruments: | Mortgage banking derivatives
Derivative [Line Items]
Notional Amount	246,583,000	73,438,000
Other Assets | Derivatives designated as hedging instruments:
Derivative [Line Items]
Other Assets	802,000	8,942,000
Other Assets | Derivatives not designated as hedging instruments:
Derivative [Line Items]
Other Assets	28,253,000	24,832,000
Other Assets | Derivatives not designated as hedging instruments: | Interest rate swaps
Derivative [Line Items]
Other Assets	25,285,000	24,628,000
Other Assets | Derivatives not designated as hedging instruments: | Mortgage banking derivatives
Derivative [Line Items]
Other Assets	2,968,000	204,000
Other Liabilities | Derivatives designated as hedging instruments:
Derivative [Line Items]
Other Liabilities	16,627,000	26,129,000
Other Liabilities | Derivatives not designated as hedging instruments:
Derivative [Line Items]
Other Liabilities	27,450,000	24,715,000
Other Liabilities | Derivatives not designated as hedging instruments: | Interest rate swaps
Derivative [Line Items]
Other Liabilities	25,284,000	24,623,000
Other Liabilities | Derivatives not designated as hedging instruments: | Mortgage banking derivatives
Derivative [Line Items]
Other Liabilities	2,166,000	92,000
Fair value hedge | Derivatives designated as hedging instruments: | Interest rate swaps
Derivative [Line Items]
Notional Amount	7,999,000	133,209,000	$ 25,000,000
Fair value hedge | Other Assets | Derivatives designated as hedging instruments: | Interest rate swaps
Derivative [Line Items]
Other Assets	0	7,658,000
Fair value hedge | Other Liabilities | Derivatives designated as hedging instruments: | Interest rate swaps
Derivative [Line Items]
Other Liabilities	986,000	1,306,000
Cash flow hedge | Derivatives designated as hedging instruments: | Interest rate caps and swaps
Derivative [Line Items]
Notional Amount	707,000,000	907,000,000
Cash flow hedge | Other Assets | Derivatives designated as hedging instruments: | Interest rate caps and swaps
Derivative [Line Items]
Other Assets	802,000	1,284,000
Cash flow hedge | Other Liabilities | Derivatives designated as hedging instruments: | Interest rate caps and swaps
Derivative [Line Items]
Other Liabilities	$ 15,641,000	$ 24,823,000

Commitments and Contingencie122

Commitments and Contingencies - Gains (Losses) Related to Interest Rate Derivatives Designated as Hedges of Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Amounts Related To Interest Rate Derivatives Included In Income Designated As Hedges Of Cash Flows [Line Items]
Amount of loss reclassified from accumulated other comprehensive loss to interest expense	$ (36,700)	$ (37,057)	$ (37,573)	$ (37,444)	$ (37,548)	$ (40,730)	$ (39,577)	$ (38,899)	$ (148,774)	$ (156,754)	$ (161,846)
Amount of loss recognized in other comprehensive income									(4,035)	(12,360)	(20,910)
Amounts Reclassified from Accumulated Other Comprehensive Loss
Amounts Related To Interest Rate Derivatives Included In Income Designated As Hedges Of Cash Flows [Line Items]
Amount of loss reclassified from accumulated other comprehensive loss to interest expense									$ (13,034)	$ (7,075)	$ (6,663)

Commitments and Contingencie123

Commitments and Contingencies - Gains (Losses) Related to Interest Rate Derivatives Designated as Hedges of Fair Value (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Gain Loss On Fair Value Hedges Recognized In Earnings [Line Items]
Gains (losses) included in the consolidated statements of income	$ 690	$ 158	$ (214)
Fair value hedge | Interest rate swaps | Interest income
Gain Loss On Fair Value Hedges Recognized In Earnings [Line Items]
Gains (losses) included in the consolidated statements of income	320	176	(13)
Fair value hedge | Interest rate swaps | Interest expense
Gain Loss On Fair Value Hedges Recognized In Earnings [Line Items]
Gains (losses) included in the consolidated statements of income	6,670	1,400	9,380
Fair value hedge | Interest rate caps and swaps | Derivatives designated as hedging instruments | Interest income
Gain Loss On Fair Value Hedges Recognized In Earnings [Line Items]
Gains (losses) included in the consolidated statements of income	(320)	(176)	13
Fair value hedge | Interest rate caps and swaps | Derivatives designated as hedging instruments | Interest expense
Gain Loss On Fair Value Hedges Recognized In Earnings [Line Items]
Gains (losses) included in the consolidated statements of income	$ (6,645)	$ (1,473)	$ (9,449)

Commitments and Contingencie124

Commitments and Contingencies - Gains (Losses) Related to Derivative Instruments Not Designated as Hedging Instruments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Non-designated hedge interest rate derivatives
Other non-interest expense	$ 690	$ 158	$ (214)

Balance Sheet Offsetting - Summ

Balance Sheet Offsetting - Summary of Valley's Financial Instruments that are Eligible for Offset (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Offsetting Liabilities
Gross Amounts Recognized	$ 206,911	$ 525,752
Gross Amounts Offset	0	0
Net Amounts Presented	206,911	525,752
Gross Amounts Not Offset, Financial Instruments	(5,268)	(8,942)
Gross Amounts Not Offset, Cash Collateral	(201,643)	(516,810)
Net Amount	0	0
Collateral posted	52,400	53,000
Repurchase agreements
Offsetting Liabilities
Gross Amounts Recognized	165,000	475,000
Gross Amounts Offset	0	0
Securities sold under agreements to repurchase	165,000	475,000
Gross Amounts Not Offset, Financial Instruments	0	0
Gross Amounts Not Offset, Cash Collateral	(165,000)	(475,000)
Net Amount	0	0
Interest rate caps and swaps
Offsetting Assets
Gross Amounts Recognized	26,087	33,570
Gross Amounts Offset	0	0
Net Amounts Presented	26,087	33,570
Gross Amounts Not Offset, Financial Instruments	(5,268)	(8,942)
Gross Amounts Not Offset, Cash Collateral	0	0
Net Amount	20,819	24,628
Offsetting Liabilities
Gross Amounts Recognized	41,911	50,752
Gross Amounts Offset	0	0
Net Amounts Presented	41,911	50,752
Gross Amounts Not Offset, Financial Instruments	(5,268)	(8,942)
Gross Amounts Not Offset, Cash Collateral	(36,643)	(41,810)
Net Amount	$ 0	$ 0

Regulatory and Capital Requi126

Regulatory and Capital Requirements - Schedule of Actual Capital Positions and Ratios under Banking Regulations (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Total Risk-based Capital
Risk-based Capital Actual, Amount	$ 2,084,531	$ 1,910,304
Risk-based Capital Actual, Ratio	12.15%	12.02%
Risk-based Capital Minimum Capital Requirements, Amount	$ 1,480,006	$ 1,271,171
Risk-based Capital Minimum Capital Requirements, Ratio	8.625%	8.00%
Common Equity Tier 1 Capital
Common Equity Tier 1 Capital, Amount	$ 1,590,825	$ 1,431,973
Common Equity Tier 1 Capital, Ratio	9.27%	9.01%
Common Equity Tier 1 Capital	$ 879,424	$ 715,034
Common Equity Tier 1 Capital Minimum Capital Requirements, Ratio	5.125%	4.50%
Tier 1 Risk-based Capital
Tier 1 Risk-based Capital Actual, Amount	$ 1,698,767	$ 1,543,937
Tier 1 Risk-based Capital Actual, Ratio	9.90%	9.72%
Tier 1 Risk-based Capital Minimum Capital Requirements, Amount	$ 1,136,816	$ 953,378
Tier 1 Risk-based Capital Minimum Capital Requirements, Ratio	6.625%	6.00%
Tier 1 Leverage Capital
Tier 1 Leverage Capital Actual, Amount	$ 1,698,767	$ 1,543,937
Tier 1 Leverage Capital Actual, Ratio	7.74%	7.90%
Tier 1 Leverage Capital Minimum Capital Requirements, Amount	$ 878,244	$ 781,388
Tier 1 Leverage Capital Minimum Capital Requirements, Ratio	4.00%	4.00%
Valley National Bank [Member]
Total Risk-based Capital
Risk-based Capital Actual, Amount	$ 2,023,857	$ 1,826,420
Risk-based Capital Actual, Ratio	11.82%	11.53%
Risk-based Capital Minimum Capital Requirements, Amount	$ 1,476,767	$ 1,266,942
Risk-based Capital Minimum Capital Requirements, Ratio	8.625%	8.00%
Risk-based Capital To Be Well Capitalized Under Prompt Corrective Action Provision, Amount	$ 1,712,193	$ 1,583,677
Risk-based Capital To Be Well Capitalized Under Prompt Corrective Action Provision, Ratio	10.00%	10.00%
Common Equity Tier 1 Capital
Common Equity Tier 1 Capital, Amount	$ 1,807,201	$ 1,618,053
Common Equity Tier 1 Capital, Ratio	10.55%	10.22%
Common Equity Tier 1 Capital	$ 877,499	$ 712,655
Common Equity Tier 1 Capital Minimum Capital Requirements, Ratio	5.125%	4.50%
Common Equity Tier 1 Capital To Be Well Capitalized Under Prompt Corrective Action Provision, Amount	$ 1,112,926	$ 1,029,390
Common Equity Tier 1 Capital To Be Well Capitalized Under Prompt Corrective Action Provision, Ratio	6.50%	6.50%
Tier 1 Risk-based Capital
Tier 1 Risk-based Capital Actual, Amount	$ 1,807,201	$ 1,618,053
Tier 1 Risk-based Capital Actual, Ratio	10.55%	10.22%
Tier 1 Risk-based Capital Minimum Capital Requirements, Amount	$ 1,134,328	$ 950,206
Tier 1 Risk-based Capital Minimum Capital Requirements, Ratio	6.625%	6.00%
Tier 1 Risk-based Capital To Be Well Capitalized Under Prompt Corrective Action Provision, Amount	$ 1,369,755	$ 1,266,942
Tier 1 Risk-based Capital To Be Well Capitalized Under Prompt Corrective Action Provision, Ratio	8.00%	8.00%
Tier 1 Leverage Capital
Tier 1 Leverage Capital Actual, Amount	$ 1,807,201	$ 1,618,053
Tier 1 Leverage Capital Actual, Ratio	8.25%	8.29%
Tier 1 Leverage Capital Minimum Capital Requirements, Amount	$ 876,026	$ 780,831
Tier 1 Leverage Capital Minimum Capital Requirements, Ratio	4.00%	4.00%
Tier 1 Leverage Capital To Be Well Capitalized Under Prompt Corrective Action Provision, Amount	$ 1,095,032	$ 976,039
Tier 1 Leverage Capital To Be Well Capitalized Under Prompt Corrective Action Provision, Ratio	5.00%	5.00%

Common and Preferred Stock (Det

Common and Preferred Stock (Detail) - USD ($)	Jun. 19, 2015	Jan. 01, 2012	Jun. 29, 2009	Dec. 31, 2016	Jun. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2010	Jun. 30, 2025	Dec. 31, 2008	Dec. 31, 2007
Common Stock [Line Items]
Net proceeds from issuance of common stock				$ 106,400,000		$ 112,085,000	$ 7,898,000	$ 5,096,000
Shares of common stock authorized (in shares)				332,023,233		332,023,233	332,023,233
Maximum voluntary optional cash payments made by shareholders to purchase common shares			$ 100,000
Warrant exercise period		10 years
Number of common stock issued upon exercise of warrant (in shares)		489,000
Exercise price of warrant (in usd per share)		$ 11.30
Dividend Reinvestment Plan
Common Stock [Line Items]
Number of shares reissued from treasury stock (in shares)						554,000	713,000	499,000
Proceeds from treasury stock reissued						$ 5,200,000	$ 7,000,000	$ 5,000,000
Parent Company
Common Stock [Line Items]
Net proceeds from issuance of common stock						$ 112,085,000	$ 7,898,000	$ 5,096,000
Parent Company | Repurchase Plan
Common Stock [Line Items]
Amount authoried under share repurchase program												$ 4,700,000
Number of shares repurchased						0	0	0
Parent Company | Other Stock Repurchases
Common Stock [Line Items]
Number of shares repurchased						328,000	387,000	174,000
Average price of shares purchased (in usd per share)						$ 9.73	$ 9.95	$ 9.68
Parent Company | U.S. Treasury Warrants
Common Stock [Line Items]
Exercise price of warrant (in usd per share)									$ 16.12
Amount of shares each warrant entitles buyer to purchase									1.1030
Parent Company | Dividend Reinvestment Plan
Common Stock [Line Items]
Shares of common stock authorized (in shares)			10,000,000
Parent Company | Warrants | U.S. Treasury Warrants
Common Stock [Line Items]
Value of warrants to purchase common stock											$ 2,500,000
Common Stock
Common Stock [Line Items]
Stock issued (in shares)				9,240,000
Series A Preferred Stock
Common Stock [Line Items]
Stock issued (in shares)	4,600,000				4,600,000
Liquidation preference per share (in usd per share)	$ 25
Fixed dividend rate per annum	6.25%
Proceeds from issuance of preferred stock, net of issuance costs	$ 111,600,000
Series A Preferred Stock | LIBOR | Forecast
Common Stock [Line Items]
Spread on variable dividend rate per annum										3.85%

Other Comprehensive Income - Sc

Other Comprehensive Income - Schedule of Comprehensive Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Equity [Abstract]
Net (losses) gains arising during the period, Before Tax	$ (7,294)	$ (3,458)	$ 33,329
Less reclassification adjustment for net gains included in net income, Before Tax	(777)	(2,487)	(745)
Net change, Unrealized gains on AFS securities, Before Tax	(8,071)	(5,945)	32,584
Net change in non-credit impairment losses on securities, Before Tax	719	(416)	2,299
Less reclassification adjustment for accretion of credit impairment losses included in net income, Before Tax	(921)	(728)	(661)
Net change, Non-credit impairment losses on securities available for sale and held to maturity, Before Tax	(202)	(1,144)	1,638
Net (losses) gains arising during the period, Before Tax	(4,035)	(12,360)	(20,910)
Less reclassification adjustment for losses included in net income, Before Tax	13,034	7,075	6,663
Net change, Unrealized gains and (losses) on derivatives (cash flow hedges), Before Tax	8,999	(5,285)	(14,247)
Net gains (losses) arising during the period, Before Tax	5,837	6,030	(27,902)
Amortization of prior service cost, Before Tax	(300)	206	305
Amortization of net loss, Before Tax	294	790	226
Net change, Defined benefit pension plan, Before Tax	5,831	7,026	(27,371)
Total other comprehensive income (loss), Before Tax	6,557	(5,348)	(7,396)
Net (losses) gains arising during the period, Tax Effect	3,001	1,458	(13,931)
Less reclassification adjustment for net gains included in net income, Tax Effect	312	1,041	312
Net change in non-credit impairment losses on securities, Tax Effect	3,313	2,499	(13,619)
Net change in non-credit impairment losses on securities	(302)	175	(965)
Less reclassification adjustment for accretion of credit impairment losses included in net income, Tax Effect	382	304	278
Net change, Non-credit impairment losses on securities available for sale and held to maturity, Tax Effect	80	479	(687)
Net (losses) gains arising during the period, Tax Effect	1,574	5,121	8,763
Less reclassification adjustment for losses included in net income, Tax Effect	(5,393)	(2,948)	(2,777)
Net change, Unrealized gains and (losses) on derivatives (cash flow hedges), Tax Effect	(3,819)	2,173	5,986
Net gains (losses) arising during the period, Tax Effect	(2,539)	(2,586)	11,695
Amortization of prior service cost, Tax Effect	119	(89)	(128)
Amortization of net loss, Tax Effect	(109)	(328)	(94)
Net change, Defined benefit pension plan, Tax Effect	(2,529)	(3,003)	11,473
Total other comprehensive income (loss), Tax Effect	(2,955)	2,148	3,153
Net (losses) gains arising during the period, After Tax	(4,293)	(2,000)	19,398
Less reclassification adjustment for net gains included in net income, After Tax	(465)	(1,446)	(433)
Total	(4,758)	(3,446)	18,965
Net change in non-credit impairment losses on securities, After Tax	417	(241)	1,334
Less reclassification adjustment for accretion of credit impairment losses included in net income, After Tax	(539)	(424)	(383)
Total	(122)	(665)	951
Net gains (losses) arising during the period, After Tax	(2,461)	(7,239)	(12,147)
Less reclassification adjustment for losses included in net income, After Tax	7,641	4,127	3,886
Total	5,180	(3,112)	(8,261)
Net gains (losses) arising during the period, After Tax	3,298	3,444	(16,207)
Amortization of prior service cost, After Tax	(181)	117	177
Amortization of net loss, After Tax	185	462	132
Total	3,302	4,023	(15,898)
Total other comprehensive income (loss)	$ 3,602	$ (3,200)	$ (4,243)

Other Comprehensive Income -129

Other Comprehensive Income - Schedule of Changes in Accumulated Other Comprehensive Loss after Tax (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 2,207,091	$ 1,863,017	$ 1,541,040
Other comprehensive (loss) income before reclassifications	(3,039)	(6,036)	(7,622)
Amounts reclassified from other comprehensive (loss) income	6,641	2,836	3,379
Other comprehensive (loss) income, net	3,602	(3,200)	(4,243)
Ending balance	2,377,156	2,207,091	1,863,017
Unrealized Gains and Losses on AFS Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(5,336)	(1,890)	(20,855)
Other comprehensive (loss) income before reclassifications	(4,293)	(2,000)	19,398
Amounts reclassified from other comprehensive (loss) income	(465)	(1,446)	(433)
Other comprehensive (loss) income, net	(4,758)	(3,446)	18,965
Ending balance	(10,094)	(5,336)	(1,890)
Non-credit Impairment Losses on Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(520)	145	(806)
Other comprehensive (loss) income before reclassifications	417	(241)	1,334
Amounts reclassified from other comprehensive (loss) income	(539)	(424)	(383)
Other comprehensive (loss) income, net	(122)	(665)	951
Ending balance	(642)	(520)	145
Unrealized Gains and Losses on Derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(17,644)	(14,532)	(6,271)
Other comprehensive (loss) income before reclassifications	(2,461)	(7,239)	(12,147)
Amounts reclassified from other comprehensive (loss) income	7,641	4,127	3,886
Other comprehensive (loss) income, net	5,180	(3,112)	(8,261)
Ending balance	(12,464)	(17,644)	(14,532)
Defined Benefit Pension Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(22,195)	(26,218)	(10,320)
Other comprehensive (loss) income before reclassifications	3,298	3,444	(16,207)
Amounts reclassified from other comprehensive (loss) income	4	579	309
Other comprehensive (loss) income, net	3,302	4,023	(15,898)
Ending balance	(18,893)	(22,195)	(26,218)
Total Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(45,695)	(42,495)	(38,252)
Ending balance	$ (42,093)	$ (45,695)	$ (42,495)

Quarterly Financial Data - Summ

Quarterly Financial Data - Summary of Quarterly Financial Data (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Interest income	$ 201,095	$ 191,203	$ 189,028	$ 185,597	$ 185,594	$ 174,690	$ 175,754	$ 170,985	$ 766,923	$ 707,023	$ 636,603
Interest expense	36,700	37,057	37,573	37,444	37,548	40,730	39,577	38,899	148,774	156,754	161,846
Net interest income	164,395	154,146	151,455	148,153	148,046	133,960	136,177	132,086	618,149	550,269	474,757
Provision for credit losses	3,800	5,840	1,429	800	3,507	94	4,500	0	11,869	8,101	1,884
Non-Interest Income
Gains on sales of loans, net	12,307	4,823	3,105	1,795	1,211	2,014	422	598	22,030	4,245	1,731
Other non-interest income	20,353	20,030	21,159	19,653	22,827	18,905	19,778	18,047	16,886	15,735	15,304
Non-Interest Expense
Loss on extinguishment of debt	0	0	315	0	51,129	0	0	0	315	51,129	10,132
Amortization of tax credit investments	13,384	6,450	7,646	7,264	13,081	5,224	4,511	4,496	34,744	27,312	24,196
Other	111,445	106,818	111,842	110,961	110,683	103,428	102,901	103,622	58,870	55,108	53,124
Income before income taxes	68,426	59,891	54,487	50,576	(6,316)	46,133	44,465	42,613	233,380	126,895	147,234
Income tax expense	18,336	17,049	15,460	14,389	(10,987)	10,179	12,474	12,272	65,234	23,938	31,062
Net Income	50,090	42,842	39,027	36,187	4,671	35,954	31,991	30,341	168,146	102,957	116,172
Dividends on preferred stock	1,797	1,797	1,797	1,797	1,796	2,017	0	0	7,188	3,813	0
Net Income Available to Common Shareholders	$ 48,293	$ 41,045	$ 37,230	$ 34,390	$ 2,875	$ 33,937	$ 31,991	$ 30,341	$ 160,958	$ 99,144	$ 116,172
Earnings Per Common Share:
Basic (in usd per share)	$ 0.19	$ 0.16	$ 0.15	$ 0.14	$ 0.01	$ 0.15	$ 0.14	$ 0.13	$ 0.63	$ 0.42	$ 0.56
Diluted (in usd per share)	0.19	0.16	0.15	0.14	0.01	0.15	0.14	0.13	0.63	0.42	0.56
Cash dividends declared per common share (in usd per share)	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.44	$ 0.44	$ 0.44
Weighted Average Number of Common Shares Outstanding:
Basic (in shares)	256,422,437	254,473,994	254,381,170	254,075,349	239,916,562	232,737,953	232,565,404	232,338,775	254,841,571	234,405,909	205,716,293
Diluted (in shares)	256,952,036	254,940,307	254,771,213	254,347,420	239,972,546	232,780,219	232,586,616	232,341,921	255,268,336	234,437,000	205,716,293

Parent Company Information - Sc

Parent Company Information - Schedule of Condensed Statements of Financial Condition (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Balance Sheet Statements, Captions [Line Items]
Interest bearing deposits with banks	$ 171,710	$ 170,225
Investment securities available for sale	1,297,373	1,506,861
Other assets	583,654	656,999
Total Assets	22,864,439	21,612,616
Long-term borrowings	1,433,906	1,810,728
Junior subordinated debentures issued to capital trusts	41,577	41,414
Shareholders’ equity	2,377,156	2,207,091	$ 1,863,017	$ 1,541,040
Total Liabilities and Shareholders’ Equity	22,864,439	21,612,616
Parent Company
Condensed Balance Sheet Statements, Captions [Line Items]
Cash	68,927	63,330
Interest bearing deposits with banks	82	135
Investment securities available for sale	239	806
Investments in and receivables due from subsidiaries	2,591,982	2,398,784
Other assets	36,188	61,365
Total Assets	2,697,418	2,524,420
Dividends payable to shareholders	29,477	28,054
Long-term borrowings	236,731	230,573
Junior subordinated debentures issued to capital trusts	41,577	41,414
Accrued expenses and other liabilities	12,477	17,288
Shareholders’ equity	2,377,156	2,207,091
Total Liabilities and Shareholders’ Equity	$ 2,697,418	$ 2,524,420

Parent Company Information -132

Parent Company Information - Schedule of Condensed Statements of Income (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Condensed Income Statements, Captions [Line Items]
Gains (losses) on securities transactions, net									$ 777	$ 2,487	$ 745
Income tax benefit	$ 18,336	$ 17,049	$ 15,460	$ 14,389	$ (10,987)	$ 10,179	$ 12,474	$ 12,272	65,234	23,938	31,062
Net Income	50,090	42,842	39,027	36,187	4,671	35,954	31,991	30,341	168,146	102,957	116,172
Dividends on preferred stock	1,797	1,797	1,797	1,797	1,796	2,017	0	0	7,188	3,813	0
Net Income Available to Common Shareholders	$ 48,293	$ 41,045	$ 37,230	$ 34,390	$ 2,875	$ 33,937	$ 31,991	$ 30,341	160,958	99,144	116,172
Parent Company
Condensed Income Statements, Captions [Line Items]
Dividends from subsidiary									90,000	110,000	110,000
Income from subsidiary									4,550	2,363	0
Gains (losses) on securities transactions, net									239	0	0
Other interest and income									34	211	436
Total Income									94,823	112,574	110,436
Total Expenses									33,604	20,578	11,172
Income before income tax benefit and equity in undistributed (losses) earnings of subsidiary									61,219	91,996	99,264
Income tax benefit									(23,349)	(21,939)	(3,245)
Income before equity in undistributed earnings (losses) of subsidiary									84,568	113,935	102,509
Equity in undistributed earnings (losses) of subsidiary									83,578	(10,978)	13,663
Net Income									168,146	102,957	116,172
Dividends on preferred stock									7,188	3,813	0
Net Income Available to Common Shareholders									$ 160,958	$ 99,144	$ 116,172

Parent Company Information -133

Parent Company Information - Schedule of Condensed Statements of Cash Flows (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Condensed Cash Flow Statements, Captions [Line Items]
Net Income		$ 50,090	$ 42,842	$ 39,027	$ 36,187	$ 4,671	$ 35,954	$ 31,991	$ 30,341	$ 168,146	$ 102,957	$ 116,172
Depreciation and amortization										24,431	21,082	19,465
Stock-based compensation										10,032	7,575	7,489
Net amortization of premiums and accretion of discounts on securities										24,310	22,080	26,949
Gains on securities transactions, net										(777)	(2,487)	(745)
Other assets										46,167	(74,589)	15,867
Net cash provided by operating activities										419,177	154,929	183,976
Sales										4,782	140,640	62,025
Purchases										(679,530)	(594,327)	(28,415)
Cash and cash equivalents acquired in acquisitions										0	201,025	102,025
Net cash used in investing activities										(1,527,313)	(1,700,399)	(511,567)
Proceeds from issuance of long-term borrowings, net										385,000	162,792	0
Proceeds from issuance of preferred stock, net										0	111,590	0
Dividends paid to preferred shareholders										(7,188)	(3,813)	0
Dividends paid to common shareholders										(111,813)	(102,279)	(88,119)
Purchase of common shares to treasury										(3,191)	(2,108)	(1,688)
Common stock issued, net	$ 106,400									112,085	7,898	5,096
Net cash provided by financing activities										1,086,837	1,128,863	788,830
Net change in cash and cash equivalents										(21,299)	(416,607)	461,239
Cash and cash equivalents at beginning of year					413,800				830,407	413,800	830,407	369,168
Cash and cash equivalents at end of year	392,501	392,501				413,800				392,501	413,800	830,407
Parent Company
Condensed Cash Flow Statements, Captions [Line Items]
Net Income										168,146	102,957	116,172
Adjustments to reconcile net income to net cash provided by operating activities:										(83,578)	10,978	(13,663)
Depreciation and amortization										0	0	18
Stock-based compensation										10,032	7,575	7,489
Net amortization of premiums and accretion of discounts on securities										163	162	163
Gains on securities transactions, net										(239)	0	0
Other assets										8,007	(41,452)	6,632
Accrued expenses and other liabilities										18,381	9,604	(1,851)
Net cash provided by operating activities										120,912	89,824	114,960
Sales										739	49	46
Purchases										0	0	(500)
Cash and cash equivalents acquired in acquisitions										0	109	14,776
Capital contributions to subsidiary										(106,000)	(115,000)	0
Subordinated debt issued by subsidiary										0	(100,000)	0
Net cash used in investing activities										(105,261)	(214,842)	14,322
Proceeds from issuance of long-term borrowings, net										0	98,897	0
Proceeds from issuance of preferred stock, net										0	111,590	0
Dividends paid to preferred shareholders										(7,188)	(3,813)	0
Dividends paid to common shareholders										(111,813)	(102,279)	(88,119)
Purchase of common shares to treasury										(3,191)	(2,108)	(1,688)
Common stock issued, net										112,085	7,898	5,096
Net cash provided by financing activities										(10,107)	110,185	(84,711)
Net change in cash and cash equivalents										5,544	(14,833)	44,571
Cash and cash equivalents at beginning of year					$ 63,465				$ 78,298	63,465	78,298	33,727
Cash and cash equivalents at end of year	$ 69,009	$ 69,009				$ 63,465				$ 69,009	$ 63,465	$ 78,298

Business Segments - Additional

Business Segments - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016Segment
Segment Reporting [Abstract]
Number of business segments	4

Business Segments - Schedule of

Business Segments - Schedule of Financial Data for Business Segments (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Average interest earning assets (unaudited)	$ 19,829,312				$ 17,425,504				$ 19,829,312	$ 17,425,504	$ 15,040,783
Interest income	201,095	$ 191,203	$ 189,028	$ 185,597	185,594	$ 174,690	$ 175,754	$ 170,985	766,923	707,023	636,603
Interest expense	36,700	37,057	37,573	37,444	37,548	40,730	39,577	38,899	148,774	156,754	161,846
Net Interest Income	164,395	154,146	151,455	148,153	148,046	133,960	136,177	132,086	618,149	550,269	474,757
Provision for credit losses	3,800	5,840	1,429	800	3,507	94	4,500	0	11,869	8,101	1,884
Net Interest Income After Provision for Credit Losses									606,280	542,168	472,873
Non-interest income									103,225	83,802	77,616
Non-interest expense:									476,125	499,075	403,255
Internal expense transfer									0	0	0
Income before income taxes	$ 68,426	$ 59,891	$ 54,487	$ 50,576	$ (6,316)	$ 46,133	$ 44,465	$ 42,613	$ 233,380	$ 126,895	$ 147,234
Return on average interest earning assets (pre-tax)	1.18%				0.73%				1.18%	0.73%	0.98%
Corporate and Other Adjustments
Segment Reporting Information [Line Items]
Average interest earning assets (unaudited)	$ 0				$ 0				$ 0	$ 0	$ 0
Interest income									(8,760)	(8,277)	(8,356)
Interest expense									11,520	11,233	11,007
Net Interest Income									(20,280)	(19,510)	(19,363)
Provision for credit losses									0	0	0
Net Interest Income After Provision for Credit Losses									(20,280)	(19,510)	(19,363)
Non-interest income									29,796	30,937	50,237
Non-interest expense:									341,978	370,051	284,693
Internal expense transfer									(280,251)	(264,364)	(239,002)
Income before income taxes									(52,211)	(94,260)	(14,817)
Consumer Lending | Operating Segments
Segment Reporting Information [Line Items]
Average interest earning assets (unaudited)	$ 5,081,798				$ 4,764,306				5,081,798	4,764,306	4,122,468
Interest income									176,929	170,569	154,078
Interest expense									35,175	39,787	41,343
Net Interest Income									141,754	130,782	112,735
Provision for credit losses									905	1,153	438
Net Interest Income After Provision for Credit Losses									140,849	129,629	112,297
Non-interest income									63,443	45,306	40,611
Non-interest expense:									62,721	59,794	59,051
Internal expense transfer									71,578	72,441	65,477
Income before income taxes									$ 69,993	$ 42,700	$ 28,380
Return on average interest earning assets (pre-tax)	1.38%				0.90%				1.38%	0.90%	0.69%
Commercial Lending | Operating Segments
Segment Reporting Information [Line Items]
Average interest earning assets (unaudited)	$ 11,318,947				$ 9,682,714				$ 11,318,947	$ 9,682,714	$ 7,959,215
Interest income									509,376	463,062	399,192
Interest expense									78,347	80,861	79,820
Net Interest Income									431,029	382,201	319,372
Provision for credit losses									10,964	6,948	1,446
Net Interest Income After Provision for Credit Losses									420,065	375,253	317,926
Non-interest income									3,292	744	(19,624)
Non-interest expense:									70,145	68,156	58,142
Internal expense transfer									160,198	146,463	126,465
Income before income taxes									$ 193,014	$ 161,378	$ 113,695
Return on average interest earning assets (pre-tax)	1.71%				1.67%				1.71%	1.67%	1.43%
Investment Management | Operating Segments
Segment Reporting Information [Line Items]
Average interest earning assets (unaudited)	$ 3,428,567				$ 2,978,484				$ 3,428,567	$ 2,978,484	$ 2,959,100
Interest income									89,378	81,669	91,689
Interest expense									23,732	24,873	29,676
Net Interest Income									65,646	56,796	62,013
Provision for credit losses									0	0	0
Net Interest Income After Provision for Credit Losses									65,646	56,796	62,013
Non-interest income									6,694	6,815	6,392
Non-interest expense:									1,281	1,074	1,369
Internal expense transfer									48,475	45,460	47,060
Income before income taxes									$ 22,584	$ 17,077	$ 19,976
Return on average interest earning assets (pre-tax)	0.66%				0.57%				0.66%	0.57%	0.68%