Valley National Bancorp (VLY) 10-K 1 Mar 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2017	Feb. 28, 2018	Jun. 30, 2017
Document And Entity Information [Abstract]
Document Type	10-K
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
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 Season Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		330,817,221
Entity Public Float			$ 3

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Assets
Cash and due from banks	$ 243,310	$ 220,791
Interest bearing deposits with banks	172,800	171,710
Investment securities:
Held to maturity (fair value of $1,837,620 at December 31, 2017 and $1,924,597 at December 31, 2016)	1,842,691	1,925,572
Available for sale	1,493,905	1,297,373
Total investment securities	3,336,596	3,222,945
Loans held for sale, at fair value	15,119	57,708
Loans	18,331,580	17,236,103
Less: Allowance for loan losses	(120,856)	(114,419)
Net loans	18,210,724	17,121,684
Premises and equipment, net	287,705	291,180
Bank owned life insurance	386,079	391,830
Accrued interest receivable	73,990	66,816
Goodwill	690,637	690,637
Other intangible assets, net	42,507	45,484
Other assets	542,839	583,654
Total Assets	24,002,306	22,864,439
Deposits:
Non-interest bearing	5,224,928	5,252,825
Interest bearing:
Savings, NOW and money market	9,365,013	9,339,012
Time	3,563,521	3,138,871
Total deposits	18,153,462	17,730,708
Short-term borrowings	748,628	1,080,960
Long-term borrowings	2,315,819	1,433,906
Junior subordinated debentures issued to capital trusts	41,774	41,577
Accrued expenses and other liabilities	209,458	200,132
Total Liabilities	21,469,141	20,487,283
Common stock (no par value, authorized 450,000,000 shares; issued 264,498,643 shares at December 31, 2017 and 263,804,877 shares at December 31, 2016)	92,727	92,353
Surplus	2,060,356	2,044,401
Retained earnings	216,733	172,754
Accumulated other comprehensive loss	(46,005)	(42,093)
Treasury stock, at cost (29,792 common shares at December 31, 2017 and 166,047 common shares at December 31, 2016)	(337)	(1,849)
Total Shareholders’ Equity	2,533,165	2,377,156
Total Liabilities and Shareholders’ Equity	24,002,306	22,864,439
Series A Preferred Stock
Preferred stock, no par value; 50,000,000 shares authorized	111,590	111,590
Series B Preferred Stock
Preferred stock, no par value; 50,000,000 shares authorized	$ 98,101	$ 0

Consolidated Statements of Fin3

Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Investment securities held to maturity	$ 1,837,620	$ 1,924,597
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	450,000,000	450,000,000
Common stock, shares issued (in shares)	264,498,643	263,804,877
Treasury stock, shares (in shares)	29,792	166,047
Preferred Class A
Preferred stock, shares issued (in shares)	4,600,000	4,600,000
Preferred Class B
Preferred stock, shares issued (in shares)	4,000,000	0

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Interest Income
Interest and fees on loans	$ 742,739	$ 685,911	$ 633,199
Interest and dividends on investment securities:
Taxable	72,676	58,143	52,050
Tax-exempt	15,399	15,537	14,568
Dividends	9,812	6,206	6,557
Interest on federal funds sold and other short-term investments	1,793	1,126	649
Total interest income	842,419	766,923	707,023
Interest on deposits:
Savings, NOW and money market	55,300	39,787	24,824
Time	42,546	37,775	35,432
Interest on short-term borrowings	18,034	12,022	919
Interest on long-term borrowings and junior subordinated debentures	58,227	59,190	95,579
Total interest expense	174,107	148,774	156,754
Net Interest Income	668,312	618,149	550,269
Provision for credit losses	9,942	11,869	8,101
Net Interest Income After Provision for Credit Losses	658,370	606,280	542,168
Non-Interest Income
Trust and investment services	11,538	10,345	10,020
Insurance commissions	18,156	19,106	17,233
Service charges on deposit accounts	21,529	20,879	21,176
(Losses) gains on securities transactions, net	(20)	777	2,487
Fees from loan servicing	7,384	6,441	6,641
Gains on sales of loans, net	20,814	22,030	4,245
Bank owned life insurance	7,338	6,694	6,815
Other	16,702	16,953	15,185
Total non-interest income	103,441	103,225	83,802
Non-Interest Expense
Salary and employee benefits expense	254,569	235,853	221,765
Net occupancy and equipment expense	92,243	87,140	90,521
FDIC insurance assessment	19,821	20,100	16,867
Amortization of other intangible assets	10,016	11,327	9,169
Professional and legal fees	25,834	17,755	18,945
Loss on extinguishment of debt	0	315	51,129
Amortization of tax credit investments	41,747	34,744	27,312
Telecommunication expenses	9,921	10,021	8,259
Other	54,922	58,870	55,108
Total non-interest expense	509,073	476,125	499,075
Income Before Income Taxes	252,738	233,380	126,895
Income tax expense	90,831	65,234	23,938
Net Income	161,907	168,146	102,957
Dividends on preferred stock	9,449	7,188	3,813
Net Income Available to Common Shareholders	$ 152,458	$ 160,958	$ 99,144
Earnings Per Common Share:
Basic (in usd per share)	$ 0.58	$ 0.63	$ 0.42
Diluted (in usd per share)	0.58	0.63	0.42
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)	264,038,123	254,841,571	234,405,909
Diluted (in shares)	264,889,007	255,268,336	234,437,000

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 161,907	$ 168,146	$ 102,957
Other comprehensive income (loss), net of tax:
Net losses arising during the period	352	(4,293)	(2,000)
Less reclassification adjustment for net losses (gains) included in net income	11	(465)	(1,446)
Total	363	(4,758)	(3,446)
Non-credit impairment losses on available for sale and held to maturity securities
Net change in non-credit impairment losses on securities	498	417	(241)
Less reclassification adjustment for accretion of credit impairment losses included in net income	(167)	(539)	(424)
Total	331	(122)	(665)
Unrealized gains and losses on derivatives (cash flow hedges)
Net losses on derivatives arising during the period	576	(2,461)	(7,239)
Less reclassification adjustment for net losses included in net income	5,028	7,641	4,127
Total	5,604	5,180	(3,112)
Defined benefit pension plan
Net (losses) gains arising during the period	(2,722)	3,298	3,444
Amortization of prior service cost	191	(181)	117
Amortization of net loss	248	185	462
Total	(2,283)	3,302	4,023
Total other comprehensive income (loss)	4,015	3,602	(3,200)
Total comprehensive income	$ 165,922	$ 171,748	$ 99,757

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Series A Preferred Stock	Common Stock	Series B Preferred Stock	Preferred Stock	Preferred StockSeries A Preferred Stock	Preferred StockSeries B Preferred Stock	Common Stock	Common StockCommon Stock	Surplus	SurplusCommon Stock	Retained Earnings	Retained EarningsCommon Stock	Accumulated Other Comprehensive Loss	Treasury Stock	Treasury StockCommon Stock
Beginning balance at Dec. 31, 2014	$ 1,863,017				$ 0			$ 81,072		$ 1,693,752		$ 130,845		$ (42,495)	$ (157)
Beginning balance (in 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)
Stock issued	236,578	$ 111,590				$ 111,590		$ 7,364		226,494		(35)			2,755
Stock issued (in shares)								21,177
Cash dividends declared on preferred stock	(3,813)											(3,813)
Cash dividends declared on common stock	(104,753)											(104,753)
Effect of stock incentive plan, net (in shares)								500
Effect of stock incentive plan, net	4,715							$ 190		7,153		(30)			(2,598)
Ending balance at Dec. 31, 2015	2,207,091				111,590			$ 88,626		1,927,399		125,171		(45,695)	0
Ending balance (in 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
Stock issued			$ 111,652						$ 3,362		$ 106,265		$ (20)		2,045
Stock issued (in shares)									9,794
Cash dividends declared on preferred stock	(7,188)											(7,188)
Cash dividends declared on common stock	(113,212)											(113,212)
Effect of stock incentive plan, net (in shares)								57
Effect of stock incentive plan, net	7,065							$ 365		10,737		(143)			(3,894)
Ending balance at Dec. 31, 2016	2,377,156				111,590			$ 92,353		2,044,401		172,754		(42,093)	(1,849)
Ending balance (in shares) at Dec. 31, 2016								263,639
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Reclassification due to the adoption of ASU No. 2018-02	0											7,927		(7,927)
Net income	161,907											161,907
Other comprehensive loss, net of tax	4,015													4,015
Stock issued			8,207	$ 98,101			$ 98,101		$ 145		$ 4,658		(56)			$ 3,460
Stock issued (in shares)									713
Cash dividends declared on preferred stock	(9,449)											(9,449)
Cash dividends declared on common stock			$ (116,332)										$ (116,332)
Effect of stock incentive plan, net (in shares)								117
Effect of stock incentive plan, net	9,560							$ 229		11,297		(18)			(1,948)
Ending balance at Dec. 31, 2017	$ 2,533,165				$ 209,691			$ 92,727		$ 2,060,356		$ 216,733		$ (46,005)	$ (337)
Ending balance (in shares) at Dec. 31, 2017								264,469

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net income	$ 161,907	$ 168,146	$ 102,957
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	24,845	24,431	21,082
Stock-based compensation	12,204	10,032	7,575
Provision for credit losses	9,942	11,869	8,101
Net amortization of premiums and accretion of discounts on securities and borrowings	46,346	24,310	22,080
Amortization of other intangible assets	10,016	11,327	9,169
Losses (gains) on securities transactions, net	20	(777)	(2,487)
Proceeds from sales of loans held for sale	813,855	572,439	144,790
Gains on sales of loans, net	(20,814)	(22,030)	(4,245)
Originations of loans held for sale	(444,290)	(425,713)	(134,328)
Losses (gains) on sales of assets, net	95	(1,358)	(2,776)
Net deferred income tax expense	76,848	27,154	16,453
Net change in:
Trading securities	0	0	14,233
Fair value of borrowings hedged by derivative transactions	0	6,158	1,473
Cash surrender value of bank owned life insurance	(7,338)	(6,694)	(6,815)
Accrued interest receivable	(7,174)	(3,262)	(2,480)
Other assets	(57,353)	47,458	(71,263)
Accrued expenses and other liabilities	121	(24,313)	31,410
Net cash provided by operating activities	619,230	419,177	154,929
Cash flows from investing activities:
Net loan originations and purchases	(1,418,073)	(1,379,431)	(1,754,689)
Investment securities held to maturity:
Purchases	(220,356)	(669,157)	(239,608)
Sales	0	0	11,666
Maturities, calls and principal repayments	290,929	325,766	402,485
Investment securities available for sale:
Purchases	(411,788)	(679,530)	(594,327)
Sales	2,727	4,782	140,640
Maturities, calls and principal repayments	204,684	867,998	142,588
Death benefit proceeds from bank owned life insurance	13,089	2,406	0
Proceeds from sales of real estate property and equipment	9,357	20,560	23,861
Purchases of real estate property and equipment	(18,117)	(20,707)	(34,040)
Cash and cash equivalents acquired in acquisitions	0	0	201,025
Net cash used in investing activities	(1,547,548)	(1,527,313)	(1,700,399)
Cash flows from financing activities:
Net change in deposits	422,754	1,477,157	1,051,660
Net change in short-term borrowings	(332,332)	3,969	873,123
Proceeds from issuance of long-term borrowings, net	1,065,000	385,000	162,792
Repayments of long-term borrowings	(185,000)	(769,182)	(970,000)
Proceeds from issuance of preferred stock, net	98,101	0	111,590
Cash dividends paid to preferred shareholders	(6,277)	(7,188)	(3,813)
Cash dividends paid to common shareholders	(115,881)	(111,813)	(102,279)
Purchase of common shares to treasury	(2,645)	(3,191)	(2,108)
Common stock issued, net	8,207	112,085	7,898
Net cash provided by financing activities	951,927	1,086,837	1,128,863
Net change in cash and cash equivalents	23,609	(21,299)	(416,607)
Cash and cash equivalents at beginning of year	392,501	413,800	830,407
Cash and cash equivalents at end of year	416,110	392,501	413,800
Supplemental disclosures of cash flow information:
Interest on deposits and borrowings	170,614	151,209	159,170
Federal and state income taxes	29,013	26,564	50,027
Supplemental schedule of non-cash investing activities:
Transfer of loans to other real estate owned	7,301	8,089	8,828
Loans transferred to loans held for sale	313,201	174,501	0
Non-cash assets acquired:
Investment securities available for sale	0	0	327,152
Loans	0	0	822,716
Premises and equipment	0	0	8,550
Bank owned life insurance	0	0	5,090
Accrued interest receivable	0	0	3,741
Goodwill	0	0	113,587
Other intangible assets	0	0	18,616
Other assets	0	0	49,831
Total non-cash assets acquired	0	0	1,349,283
Liabilities assumed:
Deposits	0	0	1,167,725
Short-term borrowings	0	0	57,087
Long-term borrowings	0	0	90,738
Accrued expenses and other liabilities	0	0	5,156
Total liabilities assumed	0	0	1,320,706
Net non-cash assets acquired	0	0	28,577
Net cash and cash equivalents acquired in acquisition	0	0	201,025
Common stock issued in acquisition	$ 0	$ 0	$ 229,602

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
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, Florida and Alabama. 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. Effective January 1, 2018, Valley acquired USAmeriBancorp, Inc. and its wholly-owned subsidiary, USAmeriBank. See Note 2 for further details regarding this acquisition. 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 $122.0 million and $113.8 million at December 31, 2017 and 2016 , respectively. Investment Securities Investment securities are classified at the time of purchase based on management’s intention, as securities held-to-maturity or securities available-for-sale securities. Investment securities classified as held-to-maturity are those that management has the positive intent and ability to hold until maturity. Investment securities held-to-maturity are carried at amortized cost, adjusted for amortization of premiums and accretion of discounts using the level-yield method over the contractual term of the securities, adjusted for actual prepayments, or to call date if the security was purchased at premium. Investment securities classified as available-for-sale are 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. Security transactions are recorded on a trade-date basis. 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. Valley's evaluation of other-than-temporary impairment 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. 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. Valley also assesses the intent and ability to hold the securities (as well as the likelihood of a near-term recovery), and the intent to sell the securities and whether it is more likely than not that we will be required to sell the securities before the recovery of their amortized cost basis. 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. If a determination is made that a debt security is other-than-temporarily impaired, Valley will estimate the amount of the unrealized loss that is attributable to credit and all other non-credit related factors. The credit related component will be recognized as an other-than-temporary impairment charge in non-interest income. The non-credit related component will be recorded as an adjustment to accumulated other comprehensive income (loss), net of tax. 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 2017 , 2016 and 2015 . 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. 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 originated for sale (and carried at fair value) 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 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 $38.7 million of residential mortgage and consumer (covered) loans subject to loss sharing agreements with the FDIC. 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). Valley had no allowance reserves related to PCI loans at December 31, 2017 and 2016 . 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 at least annually, 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 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. 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. Our FDIC loss-share receivable totaled $6.3 million and $7.2 million at December 31, 2017 and 2016 , respectively, and is included in other assets. Although this asset represents a contractual receivable from the FDIC, there is no contractual interest rate associated with the asset. 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, 2017 and 2016 . 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 analyzes 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 totaled $9.8 million and $10.2 million at December 31, 2017 and 2016 , respectively. At December 31, 2016 , OREO included $588 thousand of OREO properties related to the FDIC-assisted transactions, which are subject to the loss-sharing agreements. OREO included foreclosed residential real estate properties totaling $7.3 million and $1.6 million at December 31, 2017 and 2016 , respectively. Residential mortgage and consumer loans secured by residential real estate properties for which formal foreclosure proceedings are in process totaled $3.8 million and $7.1 million at December 31, 2017 and 2016 , respectively. 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 2017 and 2016 , 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 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 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 restricted stock unit award that vests based on a market condition is determined by a third party specialist using a Monte Carlo valuation model. See Note 12 for additional information. 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. See Note 3 for additional information. 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 a

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2017
Business Combinations [Abstract]
Business Combinations	BUSINESS COMBINATIONS (Note 2) USAmeriBancorp, Inc . On January 1, 2018, Valley completed its acquisition of USAmeriBancorp, Inc. (USAB) headquartered in Clearwater, Florida. USAB, largely through its wholly-owned subsidiary, USAmeriBank, had approximately $4.7 billion in assets, $3.8 billion in net loans and $3.6 billion in deposits, and maintained a branch network of 29 offices at December 31, 2017 . The acquisition will expand Valley’s Florida presence, primarily in the Tampa Bay market, and establish a presence in the Birmingham, Montgomery, and Tallapoosa areas in Alabama, where USAB maintained 15 of its branches. The common shareholders of USAB received 6.1 shares of Valley common stock for each USAB share they own. Full systems integration is expected to be completed in the second quarter of 2018. The total consideration for the acquisition was approximately $737 million . Merger expenses totaled $2.6 million for the year ended December 31, 2017 , which largely related to professional and legal fees included in non-interest expense on the consolidated statements of income. 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 combined 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.

Fair Value Measurement of Asset

Fair Value Measurement of Assets and Liabilities	12 Months Ended
	Dec. 31, 2017
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, 2017 and 2016 . 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 $ 49,642 $ 49,642 $ — $ — U.S. government agency securities 42,505 — 42,505 — Obligations of states and political subdivisions 112,884 — 112,884 — Residential mortgage-backed securities 1,223,295 — 1,215,935 7,360 Trust preferred securities 3,214 — 3,214 — Corporate and other debt securities 51,164 7,783 43,381 — Equity securities 11,201 1,382 9,819 — Total available for sale 1,493,905 58,807 1,427,738 7,360 Loans held for sale (1) 15,119 — 15,119 — Other assets (2) 26,417 — 26,417 — Total assets $ 1,535,441 $ 58,807 $ 1,469,274 $ 7,360 Liabilities Other liabilities (2) $ 24,330 $ — $ 24,330 $ — Total liabilities $ 24,330 $ — $ 24,330 $ — Non-recurring fair value measurements: Collateral dependent impaired loans (3) $ 48,373 $ — $ — $ 48,373 Loan servicing rights 5,350 — — 5,350 Foreclosed assets 3,472 — — 3,472 Total $ 57,195 $ — $ — $ 57,195 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 4,532 — — 4,532 Total $ 16,406 $ — $ — $ 16,406 (1) Represents residential mortgage loans held for sale that are carried at fair value and had contractual unpaid principal balances totaling approximately $14.8 million and $58.2 million at December 31, 2017 and 2016 , respectively. (2) Derivative financial instruments are included in this category. (3) Excludes PCI loans. The changes in Level 3 assets measured at fair value on a recurring basis for the years ended December 31, 2017 , 2016 and 2015 are summarized below: Available For Sale Securities 2017 2016 2015 (in thousands) Balance, beginning of the period $ 11,888 $ 13,793 $ 19,309 Net losses included in other comprehensive income (251 ) (203 ) (1,072 ) Sales (1,935 ) — (2,674 ) Settlements, net (2,342 ) (1,702 ) (1,770 ) Balance, end of the period $ 7,360 $ 11,888 $ 13,793 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 2017 and 2016 . There have been no material changes in the valuation methodologies used at December 31, 2017 from December 31, 2016 . 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 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, 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, 2017 : Security Type Valuation Technique Unobservable Input Range Weighted Average Private label mortgage-backed securities Discounted cash flow Prepayment rate 11.5 - 27.3% 19.1 % Default rate 0.9 - 38.9 8.3 Loss severity 45.0 - 62.6 57.1 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 4 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, 2017 and 2016 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, 2017 and 2016 ), 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, 2017 and 2016 . 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, 2017 , certain appraisals may be discounted based on specific market data by location and property type. During 2017 and 2016 , 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 $2.1 million and $4.3 million for the years ended December 31, 2017 and 2016 , respectively. These collateral dependent impaired loans with a total recorded investment of $57.5 million and $8.4 million at December 31, 2017 and 2016 , respectively, were reduced by specific valuation allowance allocations totaling $9.1 million and $3.0 million to a reported total net carrying amount of $48.4 million and $5.4 million at December 31, 2017 and 2016 , 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, 2017 , the fair value model used prepayment speeds (stated as constant prepayment rates) from 0 percent up to 22 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 recorded net recoveries of impairment charges on its loan servicing rights totaling $429 thousand for the year ended December 31, 2017 as compared to net impairment charges of $611 thousand for the year ended December 31, 2016 . 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, 2017 . During the years ended December 31, 2017 and 2016 , foreclosed assets measured at fair value upon initial recognition or subsequent re-measurement totaled $3.5 million and $4.5 million , respectively. The charge-offs of foreclosed assets to the allowance for loan losses totaled $1.9 million and $1.7 million for the years ended December 31, 2017 and 2016 , respectively. The re-measurement of foreclosed assets at fair value subsequent to their initial recognition resulted in losses of $361 thousand , $1.0 million and $2.0 million included in non-interest expense for the years ended December 31, 2017 , 2016 and 2015 , 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, 2017 and 2016 were as follows: December 31, 2017 2016 Fair Value Hierarchy Carrying Amount Fair Value Carrying Amount Fair Value (in thousands) Financial assets Cash and due from banks Level 1 $ 243,310 $ 243,310 $ 220,791 $ 220,791 Interest bearing deposits with banks Level 1 172,800 172,800 171,710 171,710 Investment securities held to maturity: U.S. Treasury securities Level 1 138,676 145,257 138,830 147,495 U.S. government agency securities Level 2 9,859 9,981 11,329 11,464 Obligations of states and political subdivisions Level 2 465,878 477,479 566,590 577,826 Residential mortgage-backed securities Level 2 1,131,945 1,118,044 1,112,460 1,102,802 Trust preferred securities Level 2 49,824 40,088 59,804 47,290 Corporate and other debt securities Level 2 46,509 46,771 36,559 37,720 Total investment securities held to maturity 1,842,691 1,837,620 1,925,572 1,924,597 Net loans Level 3 18,210,724 17,562,153 17,121,684 16,756,655 Accrued interest receivable Level 1 73,990 73,990 66,816 66,816 Federal Reserve Bank and Federal Home Loan Bank stock (1) Level 1 178,668 178,668 147,127 147,127 Financial liabilities Deposits without stated maturities Level 1 14,589,941 14,589,941 14,591,837 14,591,837 Deposits with stated maturities Level 2 3,563,521 3,465,373 3,138,871 3,160,572 Short-term borrowings Level 1 748,628 679,316 1,080,960 1,081,751 Long-term borrowings Level 2 2,315,819 2,453,797 1,433,906 1,523,386 Junior subordinated debentures issued to capital trusts Level 2 41,774 37,289 41,577 45,785 Accrued interest payable (2) Level 1 14,161 14,161 10,675 10,675 (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, 2017
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, 2017 and 2016 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) December 31, 2017 U.S. Treasury securities $ 138,676 $ 6,581 $ — $ 145,257 U.S. government agency securities 9,859 122 — 9,981 Obligations of states and political subdivisions: Obligations of states and state agencies 244,272 7,083 (1,653 ) 249,702 Municipal bonds 221,606 6,199 (28 ) 227,777 Total obligations of states and political subdivisions 465,878 13,282 (1,681 ) 477,479 Residential mortgage-backed securities 1,131,945 4,842 (18,743 ) 1,118,044 Trust preferred securities 49,824 60 (9,796 ) 40,088 Corporate and other debt securities 46,509 532 (270 ) 46,771 Total investment securities held to maturity $ 1,842,691 $ 25,419 $ (30,490 ) $ 1,837,620 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 The age of unrealized losses and fair value of related securities held to maturity at December 31, 2017 and 2016 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, 2017 Obligations of states and political subdivisions: Obligations of states and state agencies $ 6,342 $ (50 ) $ 53,034 $ (1,603 ) $ 59,376 $ (1,653 ) Municipal bonds 4,644 (25 ) 561 (3 ) 5,205 (28 ) Total obligations of states and political subdivisions 10,986 (75 ) 53,595 (1,606 ) 64,581 (1,681 ) Residential mortgage-backed securities 344,216 (2,357 ) 570,969 (16,386 ) 915,185 (18,743 ) Trust preferred securities — — 38,674 (9,796 ) 38,674 (9,796 ) Corporate and other debt securities 9,980 (270 ) — — 9,980 (270 ) Total $ 365,182 $ (2,702 ) $ 663,238 $ (27,788 ) $ 1,028,420 $ (30,490 ) 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 ) 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, 2017 was 152 as compared to 132 at December 31, 2016 . The unrealized losses existing for more than twelve months within the residential mortgage-backed securities category of the held to maturity portfolio at December 31, 2017 mostly related to investment grade securities issued by Ginnie Mae and Fannie Mae. The unrealized losses existing for more than twelve months for trust preferred securities at December 31, 2017 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, 2017 . As of December 31, 2017 , 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 $1.1 billion . The contractual maturities of investments in debt securities held to maturity at December 31, 2017 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, 2017 Amortized Cost Fair Value (in thousands) Due in one year $ 32,026 $ 32,320 Due after one year through five years 223,337 228,738 Due after five years through ten years 322,061 335,740 Due after ten years 133,322 122,778 Residential mortgage-backed securities 1,131,945 1,118,044 Total investment securities held to maturity $ 1,842,691 $ 1,837,620 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 7.3 years at December 31, 2017 . Available for Sale The amortized cost, gross unrealized gains and losses and fair value of investment securities available for sale at December 31, 2017 and 2016 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) December 31, 2017 U.S. Treasury securities $ 50,997 $ — $ (1,355 ) $ 49,642 U.S. government agency securities 42,384 158 (37 ) 42,505 Obligations of states and political subdivisions: Obligations of states and state agencies 38,435 158 (374 ) 38,219 Municipal bonds 74,752 477 (564 ) 74,665 Total obligations of states and political subdivisions 113,187 635 (938 ) 112,884 Residential mortgage-backed securities 1,239,534 2,423 (18,662 ) 1,223,295 Trust preferred securities* 3,726 — (512 ) 3,214 Corporate and other debt securities 50,701 623 (160 ) 51,164 Equity securities 10,505 1,190 (494 ) 11,201 Total investment securities available for sale $ 1,511,034 $ 5,029 $ (22,158 ) $ 1,493,905 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 * Includes one and two pooled trust preferred securities, principally collateralized by securities issued by banks and insurance companies at December 31, 2017 and 2016, respectively. The age of unrealized losses and fair value of related securities available for sale at December 31, 2017 and 2016 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, 2017 U.S. Treasury securities $ 916 $ (2 ) $ 48,726 $ (1,353 ) $ 49,642 $ (1,355 ) U.S. government agency securities 31,177 (37 ) — — 31,177 (37 ) Obligations of states and political subdivisions: Obligations of states and state agencies 13,337 (131 ) 7,792 (243 ) 21,129 (374 ) Municipal bonds 31,669 (256 ) 12,133 (308 ) 43,802 (564 ) Total obligations of states and political subdivisions 45,006 (387 ) 19,925 (551 ) 64,931 (938 ) Residential mortgage-backed securities 406,940 (2,461 ) 599,167 (16,201 ) 1,006,107 (18,662 ) Trust preferred securities — — 3,214 (512 ) 3,214 (512 ) Corporate and other debt securities 5,855 (45 ) 15,115 (115 ) 20,970 (160 ) Equity securities — — 5,150 (494 ) 5,150 (494 ) Total $ 489,894 $ (2,932 ) $ 691,297 $ (19,226 ) $ 1,181,191 $ (22,158 ) 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 ) 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, 2017 was 327 as compared to 298 at December 31, 2016 . The unrealized losses more than twelve months for the residential mortgage-backed securities category of the available for sale portfolio at December 31, 2017 largely related to several investment grade securities mainly issued by Ginnie Mae, Fannie Mae, and Freddie Mac. Management does not believe that any individual unrealized loss as of December 31, 2017 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. As of December 31, 2017 , 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 $775.6 million . The contractual maturities of investments securities available for sale at December 31, 2017 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, 2017 Amortized Cost Fair Value (in thousands) Due in one year $ 10,595 $ 10,562 Due after one year through five years 117,072 115,589 Due after five years through ten years 74,154 74,588 Due after ten years 59,174 58,670 Residential mortgage-backed securities 1,239,534 1,223,295 Equity securities 10,505 11,201 Total investment securities available for sale $ 1,511,034 $ 1,493,905 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, 2017 was 8.0 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. Valley's investment portfolios include private label mortgage-backed securities, trust preferred securities (including one pooled security at December 31, 2017 ) and corporate bonds (some 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, 2017 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. At December 31, 2017 , approximately 49 percent of the $578.8 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 a much lesser extent, special revenue bonds which had an aggregated amortized cost and fair value of $20.1 million and $20.8 million , respectively, at December 31, 2017 . 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, 2017 , 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 one pooled trust preferred security, Valley evaluated the projected cash flows from its tranches to determine if they are adequate to support the future contractual principal and interest payments. Valley assessed 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 rate will decrease the expected future cash flows from the 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. 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 2017 , 2016 and 2015 . At December 31, 2017 , four previously impaired private label mortgage-backed securities had a combined amortized cost of $7.9 million and fair value of $7.4 million . During the fourth quarter of 2017, one previously impaired pooled trust preferred security was sold for an immaterial loss. 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, 2017 , 2016 and 2015 : 2017 2016 2015 (in thousands) Balance, beginning of period $ 4,916 $ 5,837 $ 8,947 Accretion of credit loss impairment due to an increase in expected cash flows (284 ) (921 ) (728 ) Sales (1,317 ) — (2,382 ) Balance, end of period $ 3,315 $ 4,916 $ 5,837 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, 2017 , 2016 and 2015 were as follows: 2017 2016 2015 (in thousands) Sales transactions: Gross gains $ — $ 271 $ 3,274 Gross losses (25 ) (58 ) (947 ) $ (25 ) $ 213 $ 2,327 Maturities and other securities transactions: Gross gains $ 43 $ 615 $ 293 Gross losses (38 ) (51 ) (133 ) $ 5 $ 564 $ 160 (Losses) gains on securities transactions, net $ (20 ) $ 777 $ 2,487

Loans

Loans	12 Months Ended
	Dec. 31, 2017
Receivables [Abstract]
Loans	LOANS (Note 5) The detail of the loan portfolio as of December 31, 2017 and 2016 was as follows: December 31, 2017 December 31, 2016 Non-PCI Loans PCI Loans* Total Non-PCI Loans PCI Loans* Total (in thousands) Loans: Commercial and industrial $ 2,549,065 $ 192,360 $ 2,741,425 $ 2,357,018 $ 281,177 $ 2,638,195 Commercial real estate: Commercial real estate 8,561,851 934,926 9,496,777 7,628,328 1,091,339 8,719,667 Construction 809,964 41,141 851,105 710,266 114,680 824,946 Total commercial real estate loans 9,371,815 976,067 10,347,882 8,338,594 1,206,019 9,544,613 Residential mortgage 2,717,744 141,291 2,859,035 2,684,195 183,723 2,867,918 Consumer: Home equity 373,631 72,649 446,280 376,213 92,796 469,009 Automobile 1,208,804 98 1,208,902 1,139,082 145 1,139,227 Other consumer 723,306 4,750 728,056 569,499 7,642 577,141 Total consumer loans 2,305,741 77,497 2,383,238 2,084,794 100,583 2,185,377 Total loans $ 16,944,365 $ 1,387,215 $ 18,331,580 $ 15,464,601 $ 1,771,502 $ 17,236,103 * PCI loans include covered loans (mostly consisting of residential mortgage loans) totaling $38.7 million and $70.4 million at December 31, 2017 and 2016 , respectively. Total loans (excluding PCI covered loans) include net of unearned premiums and deferred loan costs totaling $22.2 million and $15.3 million at December 31, 2017 and 2016 , respectively. The outstanding balances (representing contractual balances owed to Valley) for PCI loans totaled $1.5 billion and $1.9 billion at December 31, 2017 and 2016 , respectively. Valley transferred $313.2 million and $174.5 million of residential mortgage loans from the loan portfolio to loans held for sale in 2017 and 2016 , respectively. These loans were sold resulting in net gains totaling $8.8 million and $7.3 million for the years ended December 31, 2017 and 2016 , respectively. Exclusive of such transfers, there were no other sales or transfers of loans from the held for investment portfolio during 2017 and 2016 . Purchased Credit-Impaired 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. See Note 1 for additional information. The following table presents changes in the accretable yield for PCI loans for the years ended December 31, 2017 and 2016 : 2017 2016 (in thousands) Balance, beginning of period $ 294,514 $ 415,179 Accretion (89,770 ) (107,482 ) Net increase (decrease) in expected cash flows 77,265 (9,989 ) Other, net — (3,194 ) Balance, end of period $ 282,009 $ 294,514 The net increase (decrease) 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 increase in the expected cash flows totaling approximately $77.3 million for the year ended December 31, 2017 was largely due to a decrease in the expected losses for certain PCI loan pools during the fourth quarter of 2017. Conversely, the net decrease of approximately $10.0 million for 2016 was largely due to accelerated cash flows caused by higher actual loan repayments within certain loan pools which reduced the remaining reforecasted accretable yield during the fourth quarter of 2016 . 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, 2017 : 2017 (in thousands) Outstanding at beginning of year $ 165,320 New loans and advances 7,307 Repayments (21,362 ) Outstanding at end of year $ 151,265 All loans to related parties are performing as of December 31, 2017 . 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 $401.8 million and $455.5 million at December 31, 2017 and 2016 , respectively. The commercial portfolio also includes taxi medallion loans, most of which consist of loans to fleet owners of New York City medallions. At December 31, 2017 , the taxi medallion loans totaled $137.3 million and were largely classified as substandard and special mention loans. While the vast majority of these loans are performing at December 31, 2017 , continued negative trends in the market valuations of the underlying taxi medallions could impact the future performance and internal classification of this portfolio. 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 and other collateral in certain instances. 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 these regions. 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 80 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 $18.1 million and $20.6 million , including $8.2 million and $7.0 million of credit card loans, at December 31, 2017 and 2016 , respectively. Valley believes the aggregate risk exposure to unsecured loans and lines of credit was not significant at December 31, 2017 . 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, 2017 and 2016 : 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, 2017 Commercial and industrial $ 3,650 $ 544 $ — $ 20,890 $ 25,084 $ 2,523,981 $ 2,549,065 Commercial real estate: Commercial real estate 11,223 — 27 11,328 22,578 8,539,273 8,561,851 Construction 12,949 18,845 — 732 32,526 777,438 809,964 Total commercial real estate loans 24,172 18,845 27 12,060 55,104 9,316,711 9,371,815 Residential mortgage 12,669 7,903 2,779 12,405 35,756 2,681,988 2,717,744 Consumer loans: Home equity 1,009 94 — 1,777 2,880 370,751 373,631 Automobile 5,707 987 271 73 7,038 1,201,766 1,208,804 Other consumer 1,693 118 13 20 1,844 721,462 723,306 Total consumer loans 8,409 1,199 284 1,870 11,762 2,293,979 2,305,741 Total $ 48,900 $ 28,491 $ 3,090 $ 47,225 $ 127,706 $ 16,816,659 $ 16,944,365 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 If interest on non-accrual loans had been accrued in accordance with the original contractual terms, such interest income would have amounted to approximately $2.5 million , $2.1 million , and $3.5 million for the years ended December 31, 2017 , 2016 and 2015 , 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, 2017 and 2016 : Recorded Investment With No Related Allowance Recorded Investment With Related Allowance Total Recorded Investment Unpaid Contractual Principal Balance Related Allowance (in thousands) December 31, 2017 Commercial and industrial $ 9,946 $ 75,553 $ 85,499 $ 90,269 $ 11,044 Commercial real estate: Commercial real estate 28,709 29,771 58,480 62,286 2,718 Construction 1,904 467 2,371 2,394 17 Total commercial real estate loans 30,613 30,238 60,851 64,680 2,735 Residential mortgage 5,654 8,402 14,056 15,332 718 Consumer loans: Home equity 3,096 664 3,760 4,917 64 Total consumer loans 3,096 664 3,760 4,917 64 Total $ 49,309 $ 114,857 $ 164,166 $ 175,198 $ 14,561 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 Interest income recognized on a cash basis for impaired loans classified as non-accrual was not material for the years ended December 31, 2017 , 2016 and 2015 . 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, 2017 , 2016 and 2015 : 2017 2016 2015 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) Commercial and industrial $ 80,974 $ 1,459 $ 36,552 $ 1,045 $ 28,451 $ 893 Commercial real estate: Commercial real estate 54,799 1,908 59,633 2,122 77,154 2,380 Construction 3,258 86 5,790 182 16,399 534 Total commercial real estate loans 58,057 1,994 65,423 2,304 93,553 2,914 Residential mortgage 15,451 760 21,340 874 24,435 728 Consumer loans: Home equity 4,295 160 2,626 68 3,852 111 Total consumer loans 4,295 160 2,626 68 3,852 111 Total $ 158,777 $ 4,373 $ 125,941 $ 4,291 $ 150,291 $ 4,646 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 $117.2 million and $85.2 million as of December 31, 2017 and 2016 , respectively. Non-performing TDRs totaled $27.0 million and $10.6 million as of December 31, 2017 and 2016 , respectively. The following table presents non-PCI loans by loan class modified as TDRs during the years ended December 31, 2017 and 2016 . The pre-modification and post-modification outstanding recorded investments disclosed in the table below represent the loan carrying amounts immediately prior to the modification and the carrying amounts at December 31, 2017 and 2016 , respectively. Troubled Debt Restructurings Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment ($ in thousands) December 31, 2017 Commercial and industrial 90 $ 75,894 $ 69,020 Commercial real estate: Commercial real estate 6 23,781 23,548 Construction 3 1,188 932 Total commercial real estate 9 24,969 24,480 Residential mortgage 7 1,769 1,727 Total 106 $ 102,632 $ 95,227 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 The total TDRs presented in the table above had allocated specific reserves for loan losses that totaled $8.7 million and $4.8 million at December 31, 2017 and 2016 , respectively. These specific reserves are included in the allowance for loan losses for loans individually evaluated for impairment disclosed in Note 6. There were no loan charge-offs related to loans modified as TDRs during 2017 and 2016. At December 31, 2017 , the commercial and industrial loan category in the above table largely consisted of performing TDR taxi cab medallion loans classified as substandard and non-accrual doubtful loans. The non-PCI loans modified as TDRs within the previous 12 months and for which there was a payment default ( 90 or more days past due) for the years ended December 31, 2017 and 2016 were as follows: Years Ended December 31, 2017 2016 Troubled Debt Restructurings Subsequently Defaulted Number of Contracts Recorded Investment Number of Contracts Recorded Investment ($ in thousands) Commercial and industrial 7 $ 5,841 — $ — Commercial real estate 1 165 2 357 Residential mortgage 5 1,125 — — Consumer — — 4 853 Total 13 $ 7,131 6 $ 1,210 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 credit exposure by internally assigned risk rating by class of loans (excluding PCI loans) based on the most recent analysis performed at December 31, 2017 and 2016 . Credit exposure— by internally assigned risk rating Special Total Non-PCI Pass Mention Substandard Doubtful Loans (in thousands) December 31, 2017 Commercial and industrial $ 2,375,689 $ 62,071 $ 96,555 $ 14,750 $ 2,549,065 Commercial real estate 8,447,865 48,009 65,977 — 8,561,851 Construction 808,091 360 1,513 — 809,964 Total $ 11,631,645 $ 110,440 $ 164,045 $ 14,750 $ 11,920,880 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 At December 31, 2017 , the commercial and industrial loans rated substandard and doubtful in the above table partly consisted of performing TDR taxi medallion loans and non-accrual taxi cab medallion loans, respectively. 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, 2017 and 2016 : Credit exposure— by payment activity Performing Loans Non-Performing Loans Total Non-PCI Loans (in thousands) December 31, 2017 Residential mortgage $ 2,705,339 $ 12,405 $ 2,717,744 Home equity 371,854 1,777 373,631 Automobile 1,208,731 73 1,208,804 Other consumer 723,286 20 723,306 Total $ 5,009,210 $ 14,275 $ 5,023,485 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 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, 2017 and 2016 : Credit exposure— Performing Non-Performing Total by payment activity Loans Loans PCI Loans (in thousands) December 31, 2017 Commercial and industrial $ 172,105 $ 20,255 $ 192,360 Commercial real estate 924,574 10,352 934,926 Construction 39,802 1,339 41,141 Residential mortgage 135,745 5,546 141,291 Consumer 76,901 596 77,497 Total $ 1,349,127 $ 38,088 $ 1,387,215 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

Allowance for Credit Losses

Allowance for Credit Losses	12 Months Ended
	Dec. 31, 2017
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, 2017 and 2016 . The following table summarizes the allowance for credit losses at December 31, 2017 and 2016 : December 31, 2017 2016 (in thousands) Components of allowance for credit losses: Allowance for loan losses $ 120,856 $ 114,419 Allowance for unfunded letters of credit 3,596 2,185 Total allowance for credit losses $ 124,452 $ 116,604 The following table summarizes the provision for credit losses for the years ended December 31, 2017 , 2016 and 2015 : 2017 2016 2015 (in thousands) Components of provision for credit losses: Provision for loan losses $ 8,531 $ 11,873 $ 7,846 Provision for unfunded letters of credit 1,411 (4 ) 255 Total provision for credit losses $ 9,942 $ 11,869 $ 8,101 The following table details the activity in the allowance for loan losses by portfolio segment for the years ended December 31, 2017 and 2016 : Commercial and Industrial Commercial Real Estate Residential Mortgage Consumer Total (in thousands) December 31, 2017 Allowance for loan losses: Beginning balance $ 50,820 $ 55,851 $ 3,702 $ 4,046 $ 114,419 Loans charged-off (5,421 ) (559 ) (530 ) (4,564 ) (11,074 ) Charged-off loans recovered 4,736 1,425 1,016 1,803 8,980 Net (charge-offs) recoveries (685 ) 866 486 (2,761 ) (2,094 ) Provision for loan losses 7,097 (1,763 ) (583 ) 3,780 8,531 Ending balance $ 57,232 $ 54,954 $ 3,605 $ 5,065 $ 120,856 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) recoveries (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 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, 2017 and 2016 . 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, 2017 Allowance for loan losses: Individually evaluated for impairment $ 11,044 $ 2,735 $ 718 $ 64 $ 14,561 Collectively evaluated for impairment 46,188 52,219 2,887 5,001 106,295 Total $ 57,232 $ 54,954 $ 3,605 $ 5,065 $ 120,856 Loans: Individually evaluated for impairment $ 85,499 $ 60,851 $ 14,056 $ 3,760 $ 164,166 Collectively evaluated for impairment 2,463,566 9,310,964 2,703,688 2,301,981 16,780,199 Loans acquired with discounts related to credit quality 192,360 976,067 141,291 77,497 1,387,215 Total $ 2,741,425 $ 10,347,882 $ 2,859,035 $ 2,383,238 $ 18,331,580 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

Premises and Equipment, Net

Premises and Equipment, Net	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Premises and Equipment, Net	PREMISES AND EQUIPMENT, NET (Note 7) At December 31, 2017 and 2016 , premises and equipment, net consisted of: 2017 2016 (in thousands) Land $ 77,235 $ 78,116 Buildings 210,335 210,012 Leasehold improvements 79,217 73,405 Furniture and equipment 255,189 240,424 Total premises and equipment 621,976 601,957 Accumulated depreciation and amortization (334,271 ) (310,777 ) Total premises and equipment, net $ 287,705 $ 291,180 Depreciation and amortization of premises and equipment included in non-interest expense for the years ended December 31, 2017 , 2016 and 2015 was approximately $24.8 million , $24.4 million , and $21.1 million , respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2017
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, 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 Balance at December 31, 2017 $ 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. There were no changes to the carrying amounts of goodwill allocated to Valley's business segments during 2017. 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 (see Note 2 for further details). There was no impairment of goodwill during the years ended December 31, 2017 , 2016 and 2015 . The following tables summarize other intangible assets as of December 31, 2017 and 2016 : Gross Intangible Assets Accumulated Amortization Valuation Allowance Net Intangible Assets (in thousands) December 31, 2017 Loan servicing rights $ 79,138 $ (57,054 ) $ (471 ) $ 21,613 Core deposits 43,396 (24,297 ) — 19,099 Other 4,087 (2,292 ) — 1,795 Total other intangible assets $ 126,621 $ (83,643 ) $ (471 ) $ 42,507 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 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 . 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, 2017 , 2016 and 2015 . The following table summarizes the change in loan servicing rights during the years ended December 31, 2017 , 2016 and 2015 : 2017 2016 2015 (in thousands) Loan servicing rights Balance at beginning of year $ 20,368 $ 16,681 $ 20,446 Origination of loan servicing rights 7,039 8,479 1,696 Amortization expense (5,323 ) (4,792 ) (5,461 ) Balance at end of year $ 22,084 $ 20,368 $ 16,681 Valuation allowance Balance at beginning of year $ (900 ) $ (289 ) $ (592 ) Impairment adjustment 429 (611 ) 303 Balance at end of year $ (471 ) $ (900 ) $ (289 ) Balance at end of year, net of valuation allowance $ 21,613 $ 19,468 $ 16,392 Loan servicing rights are accounted for using the amortization method (see Note 1 for more details). The Bank is a servicer of residential mortgage 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 $2.8 billion , $2.5 billion and $2.1 billion at December 31, 2017 , 2016 and 2015 , respectively. The outstanding balance of 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 $10.0 million , $11.3 million and $9.2 million for the years ended December 31, 2017 , 2016 and 2015 , 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) 2018 $ 5,180 $ 4,215 $ 249 2019 4,160 3,671 235 2020 3,331 3,127 220 2021 2,554 2,582 206 2022 2,039 2,038 191

Deposits

Deposits	12 Months Ended
	Dec. 31, 2017
Banking and Thrift [Abstract]
Deposits	DEPOSITS (Note 9) Included in time deposits are certificates of deposit over $250 thousand totaling $647.3 million and $550.2 million at December 31, 2017 and 2016 , respectively. Interest expense on time deposits of $250 thousand or more totaled approximately $1.3 million , $1.1 million , and $2.3 million in 2017 , 2016 and 2015 , respectively. The scheduled maturities of time deposits as of December 31, 2017 are as follows: Year Amount (in thousands) 2018 $ 1,920,543 2019 747,876 2020 316,238 2021 221,472 2022 198,264 Thereafter 159,128 Total time deposits $ 3,563,521 Deposits from certain directors, executive officers and their affiliates totaled $77.7 million and $85.6 million at December 31, 2017 and 2016 , respectively.

Borrowed Funds

Borrowed Funds	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Borrowed Funds	BORROWED FUNDS (Note 10) Short-Term Borrowings Short-term borrowings at December 31, 2017 and 2016 consisted of the following: 2017 2016 (in thousands) Securities sold under agreements to repurchase $ 321,628 $ 298,960 FHLB advances 427,000 782,000 Total short-term borrowings $ 748,628 $ 1,080,960 The weighted average interest rate for short-term borrowings was 1.05 percent and 0.65 percent at December 31, 2017 and 2016 , respectively. Long-Term Borrowings Long-term borrowings at December 31, 2017 and 2016 consisted of the following: 2017 2016 (in thousands) FHLB advances, net (1) $ 1,980,666 $ 1,031,666 Securities sold under agreements to repurchase 100,000 165,000 Subordinated debt, net (2) 235,153 236,731 Other — 509 Total long-term borrowings $ 2,315,819 $ 1,433,906 (1) FHLB advances are presented net of unamortized prepayment penalties and other purchase accounting adjustments totaling $14.3 million and $18.3 million at December 31, 2017 and 2016, respectively. (2) Subordinated debt is presented net of unamortized debt issuance costs totaling $1.7 million and $1.9 million at December 31, 2017 and 2016, respectively. In 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 2016, Valley also 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 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 2.52 percent and 3.37 percent at December 31, 2017 and 2016 , 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 long-term FHLB advances at December 31, 2017 are scheduled for contractual balance repayments as follows: Year Amount (in thousands) 2018 $ 700,000 2019 255,000 2021 840,000 2022 200,000 Total long-term FHLB advances $ 1,995,000 There are no FHLB advances which are callable for early redemption by the FHLB in the table above. Long-term borrowings for securities sold under agreements. The long-term borrowings for securities sold under agreements had a weighted average interest rate of 3.37 percent and 2.41 percent at December 31, 2017 and 2016 , respectively. The long-term repos at December 31, 2017 are scheduled for contractual balance repayments as follows: Year Amount (in thousands) 2018 $ 50,000 2022 50,000 Total long-term securities sold under agreements to repurchase $ 100,000 Subordinated Debt. In June 2015, Valley 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. Interest on the subordinated notes is payable semi-annually in arrears on June 30 and December 30 of each year. The subordinated notes had a net carrying value of $99.2 million and $99.0 million at December 31, 2017 and 2016 , respectively. 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. The subordinated notes had a net carrying value of $136.0 million and $137.7 million at December 31, 2017 and 2016 , 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 $1.8 billion and $1.5 billion for December 31, 2017 and 2016 , respectively.

Junior Subordinated Debentures

Junior Subordinated Debentures Issued to Capital Trusts	12 Months Ended
	Dec. 31, 2017
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, 2017 and 2016 : GCB Capital Trust III State Bancorp Capital Trust I State Bancorp Capital Trust II ($ in thousands) Junior Subordinated Debentures: December 31, 2017 Carrying value (1) $ 24,743 $ 8,824 $ 8,207 Contractual principal balance 24,743 10,310 10,310 December 31, 2016 Carrying value (1) $ 24,777 $ 8,724 $ 8,076 Contractual principal balance 24,743 10,310 10,310 Annual interest rate (2) 3-month LIBOR+1.4% 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, 2017 and 2016 Face value $ 24,000 $ 10,000 $ 10,000 Annual distribution rate (2) 3-month LIBOR+1.4% 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) The carrying values include unamortized purchase accounting adjustments at December 31, 2017 and 2016. (2) Interest on GCB Capital Trust III was fixed at an annual rate of 6.96 percent until July 30, 2017, then it reset to a 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 early redemption. 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, 2017 and 2016.

Benefit Plans

Benefit Plans	12 Months Ended
	Dec. 31, 2017
Retirement Benefits [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 plans 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. All participants were immediately vested in their frozen accrued benefits if they were employed by the Bank as of December 31, 2013. 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, 2017 and 2016 : 2017 2016 (in thousands) Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 161,306 $ 157,661 Interest cost 5,713 6,681 Actuarial loss 10,148 2,047 Benefits paid (6,601 ) (5,546 ) Projected benefit obligation at end of year $ 170,566 $ 161,306 Change in fair value of plan assets: Fair value of plan assets at beginning of year $ 206,639 $ 189,414 Actual return on plan assets 21,468 22,424 Employer contributions 618 347 Benefits paid (6,601 ) (5,546 ) Fair value of plan assets at end of year* $ 222,124 $ 206,639 Funded status of the plan Asset recognized $ 51,558 $ 45,333 Accumulated benefit obligation 170,566 161,306 * Includes accrued interest receivable of $993 thousand and $606 thousand as of December 31, 2017 and 2016 , 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 $628 thousand of the net actuarial loss reported in the following table as of December 31, 2017 as a component of net periodic pension expense during 2018 . 2017 2016 (in thousands) Net actuarial loss $ 33,602 $ 30,140 Deferred tax benefit (14,044 ) (12,647 ) Total $ 19,558 $ 17,493 The non-qualified plans had a projected benefit obligation, accumulated benefit obligation, and fair value of plan assets as follows: 2017 2016 (in thousands) Projected benefit obligation $ 20,175 $ 18,286 Accumulated benefit obligation 20,175 18,286 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 3.69 percent and 4.12 percent as of December 31, 2017 and 2016 , respectively. The net periodic pension income for the qualified and non-qualified plans included the following components for the years ended December 31, 2017 , 2016 and 2015 : 2017 2016 2015 (in thousands) Interest cost $ 5,713 $ 6,681 $ 6,889 Expected return on plan assets (15,163 ) (14,539 ) (14,023 ) Amortization of net loss 381 294 790 Total net periodic pension income $ (9,069 ) $ (7,564 ) $ (6,344 ) 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. At December 31, 2016, Valley elected 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, accounted for it prospectively starting in 2017. This change does not affect the measurement of the total benefit obligation. For 2017, the change in estimate when compared to the prior approach accounted for a large portion of the decline in interest cost from 2016 to 2017 as shown in the table above. 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, 2017 and 2016 were as follows: 2017 2016 (in thousands) Net loss (gain) $ 3,843 $ (5,837 ) Prior service cost — 462 Amortization of prior service cost (35 ) — Amortization of actuarial loss (381 ) (294 ) Total recognized in other comprehensive income $ 3,427 $ (5,669 ) Total recognized in net periodic pension income and other comprehensive income/loss (before tax) $ (5,607 ) $ (13,233 ) 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) 2018 $ 7,472 2019 7,957 2020 8,267 2021 8,602 2022 8,781 Thereafter 47,032 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, 2017 , 2016 and 2015 were as follows: 2017 2016 2015 Discount rate 4.12 % 4.33 % 4.02 % 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 materially 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, 2017 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 38 % $ 84,791 $ 84,791 $ — $ — Corporate bonds 22 47,471 — 47,471 — Mutual funds 23 48,814 48,814 — — U.S. Treasury securities 13 28,671 28,671 — — Cash and money market funds 4 9,522 9,522 — — U.S. government agency securities * 1,862 — 1,862 — Total investments 100 % $ 221,131 $ 171,798 $ 49,333 $ — 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 $ — * 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, 2017 and 2016 , the remaining obligations under these plans were $2.1 million and $2.7 million , respectively, of which $682 thousand and $1.1 million , respectively, were funded by Valley. As of December 31, 2017 and 2016, all of the obligations were included in other liabilities and $818 thousand (net of a $577 thousand tax benefit) and $951 thousand (net of a $674 thousand tax benefit), respectively, were recorded in accumulated other comprehensive loss. The $818 thousand 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 $10.8 million , $10.5 million and $9.0 million during 2017 , 2016 and 2015 , 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 $7.1 million , $6.7 million and $7.1 million in expense for contributions to the plan for the years ended December 31, 2017 , 2016 and 2015 , 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 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 $13,500 in 2017. During 2015, 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 incentive 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 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 2016 Stock 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 in the form of stock appreciation rights, both incentive and non-qualified stock options, restricted stock and restricted stock units (RSUs) to its employees and non-employee directors. As of December 31, 2017 , 7.3 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 $12.2 million , $10.0 million and $8.8 million for the years ended December 31, 2017 , 2016 and 2015 , respectively. The stock-based compensation expense for 2017 , 2016 and 2015 included $4.3 million , $3.5 million and $2.6 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, 2017 , the unrecognized amortization expense for all stock-based compensation totaled approximately $11.6 million and will be recognized over an average remaining vesting period of approximately 2 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 2016 Stock 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 (RSAs) outstanding for the years ended December 31, 2017 , 2016 and 2015 : Restricted Stock Awards Outstanding 2017 2016 2015 Outstanding at beginning of year 2,100,816 2,755,138 2,574,616 Granted 608,786 544,307 886,427 Vested (736,575 ) (1,050,293 ) (559,958 ) Forfeited (201,325 ) (148,336 ) (145,947 ) Outstanding at end of year 1,771,702 2,100,816 2,755,138 The RSAs granted in 2017 have vesting periods ranging from one to three years . The average grant date fair value of RSAs granted during the year ended December 31, 2017 was $11.70 per share. Included in the RSAs granted (in the table above) during 2017, 45 thousand shares were issued to Valley directors. In 2017, each non-management director received a $50 thousand RSA as part of their annual retainer. The RSAs were granted on the date of the 2017 annual shareholders’ meeting with the number of RSAs determined using the closing market price on the date prior to grant. The RSAs vest on the earlier 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 of Directors. During 2014, 240 thousand shares of performance-based RSAs were made to executive officers and vested based on the same performance measures for the RSU grants discussed below. A portion of the RSAs vested based on the total shareholder return 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 per share plus dividends. During 2017 , 2016 and 2015 , 85 thousand , 53 thousand and 50 thousand restricted shares, respectively, of the performance-based RSAs vested. The total remaining unvested performance-based RSAs were forfeited during 2017 due to failure to meet the performance and market conditions at the final year of vesting. Restricted Stock Units . Valley granted 371 thousand , 431 thousand and 313 thousand shares of performance-based RSUs to certain executive officers for the year ended December 31, 2017 , 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 $11.05 , $8.32 and $8.98 per share for the years ended December 31, 2017 , 2016 , and 2015, respectively. Compensation costs related to RSUs totaled $3.8 million , $2.8 million and $2.3 million , and were included in total stock-based compensation expense for the years ended December 31, 2017 , 2016 and 2015, respectively. 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, 2017 , 2016 and 2015 and changes during the years ended on those dates: 2017 2016 2015 Weighted Average Exercise Weighted Average Exercise Weighted Average Exercise Stock Options Shares Price Shares Price Shares Price Outstanding at beginning of year 732,489 $ 14 1,383,365 $ 16 1,828,591 $ 17 Granted — — — — 100,000 11 Forfeited or expired (285,509 ) 16 (650,876 ) 18 (545,226 ) 18 Outstanding at end of year 446,980 13 732,489 14 1,383,365 16 Exercisable at year-end 446,980 13 632,489 14 1,283,365 16 The following table summarizes information about stock options outstanding and exercisable at December 31, 2017 : Options Outstanding and Exercisable Range of Exercise Prices Number of Options Weighted Average Remaining Contractual Life in Years Weighted Average Exercise Price $10-14 227,100 2.9 $ 12 14-15 217,963 0.4 14 15-17 1,917 0.4 16 446,980 1.7 13 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, 2017 , 2016 and 2015: Restricted Stock Awards Outstanding 2017 2016 2015 Outstanding at beginning of year 55,510 80,117 98,086 Vested (37,625 ) (24,607 ) (17,969 ) Outstanding at end of year 17,885 55,510 80,117

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES (Note 13) The U.S. Tax Cuts and Jobs Act (the "Tax Act") was enacted on December 22, 2017 and introduces significant changes to U.S. income tax law. Effective in 2018, the Tax Act reduces the U.S. statutory tax rate from 35 percent to 21 percent. In response to the Tax Act, the SEC staff issued guidance on accounting for the tax effects of the Tax Act. The guidance provides a one-year measurement period for companies to complete the accounting. Valley reflected the income tax effects of those aspects of the Tax Act for which the accounting is complete. To the extent Valley’s accounting for certain income tax effects of the Tax Act is incomplete but it can determine a reasonable estimate, Valley recorded a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply the provisions of the tax laws that were in effect immediately before the enactment of the Tax Act. Due to the timing of the enactment and the complexity involved in applying the provisions of the Tax Act, Valley has made reasonable estimates of the effects and recorded provisional amounts in its financial statements as of December 31, 2017. As Valley collects and prepares necessary data, and interprets the Tax Act and any additional guidance issued by the U.S. Treasury Department, the IRS, and other standard-setting bodies, Valley may adjust the provisional amounts. Information needed to adjust provisional amounts are the completion of all 2017 tax returns. The potential adjustments may materially impact Valley’s provision for income taxes and effective tax rate in the period in which the adjustments are made. The accounting for the tax effects of the Tax Act will be completed in 2018. Income tax expense for the years ended December 31, 2017 , 2016 and 2015 consisted of the following: 2017 2016 2015 (in thousands) Current expense (benefit): Federal $ 8,483 $ 25,176 $ 7,978 State 5,500 12,904 (493 ) 13,983 38,080 7,485 Deferred expense (benefit): Federal 49,169 10,658 (7,539 ) State 27,679 16,496 23,992 76,848 27,154 16,453 Total income tax expense $ 90,831 $ 65,234 $ 23,938 The tax effects of temporary differences that gave rise to the significant portions of the deferred tax assets and liabilities as of December 31, 2017 and 2016 are as follows: 2017 2016 (in thousands) Deferred tax assets: Allowance for loan losses $ 34,885 $ 47,485 Depreciation 8,336 12,432 Employee benefits 10,596 16,121 Investment securities, including other-than-temporary impairment losses 5,021 17,272 Net operating loss carryforwards 30,658 46,667 Purchase accounting 18,819 33,172 Other 21,930 22,183 Total deferred tax assets 130,245 195,332 Deferred tax liabilities: Pension plans 18,912 24,575 Other investments 13,234 20,831 Deferred income 37,952 — Other 12,651 20,418 Total deferred tax liabilities 82,749 65,824 Net deferred tax asset (included in other assets) $ 47,496 $ 129,508 Valley's federal net operating loss carryforwards totaled approximately $71.6 million at December 31, 2017 and expire during the period from 2029 through 2034. State net operating loss carryforwards totaled approximately $405 million at December 31, 2017 and expire during the period from 2029 through 2037. Valley’s state alternative minimum tax credit carryforward was approximately $2.9 million at December 31, 2017 and can be carried forward indefinitely. Within the "Other" category of deferred tax assets in the table above, Valley has $6.1 million of tax credit carryforwards which expire in 2037. 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, 2017 , 2016 and 2015 were as follows: 2017 2016 2015 (in thousands) Federal income tax at expected statutory rate $ 88,458 $ 81,683 $ 44,413 Increase (decrease) due to: State income tax expense, net of federal tax effect 21,046 19,197 15,274 Tax-exempt interest, net of interest incurred to carry tax-exempt securities (5,245 ) (5,308 ) (4,864 ) Bank owned life insurance (2,568 ) (2,343 ) (2,385 ) Tax credits from securities and other investments (27,037 ) (25,954 ) (28,988 ) Impact of the Tax Act 15,441 — — Other, net 736 (2,041 ) 488 Income tax expense $ 90,831 $ 65,234 $ 23,938 A reconciliation of Valley’s gross unrecognized tax benefits for 2017 , 2016 and 2015 are presented in the table below: 2017 2016 2015 (in thousands) Beginning balance $ 16,144 $ 19,892 $ 18,647 Additions based on tax positions related to prior years 1,121 3,958 1,245 Settlements with taxing authorities (13,027 ) (4,820 ) — Reductions due to expiration of statute of limitations — (2,886 ) — Ending balance $ 4,238 $ 16,144 $ 19,892 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 $4.2 million within the next 12 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 $1.8 million and $4.6 million of interest associated with Valley’s uncertain tax positions at December 31, 2017 and 2016 , 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 2013. 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 12 months. Valley has considered, for all open audits, any potential adjustments in establishing our reserve for unrecognized tax benefits as of December 31, 2017 . 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, 2017 and 2016 : December 31, 2017 2016 (in thousands) Other Assets: Affordable housing tax credit investments, net $ 22,135 $ 29,567 Other tax credit investments, net 42,015 44,763 Total tax credit investments, net $ 64,150 $ 74,330 Other Liabilities: Unfunded affordable housing tax credit commitments $ 3,690 $ 4,850 Unfunded other tax credit commitments 15,020 7,276 Total unfunded tax credit commitments $ 18,710 $ 12,126 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, 2017 , 2016 and 2015 : 2017 2016 2014 (in thousands) Components of Income Tax Expense: Affordable housing tax credits and other tax benefits $ 7,383 $ 5,013 $ 4,709 Other tax credit investment credits and tax benefits 35,530 33,294 23,877 Total reduction in income tax expense $ 42,913 $ 38,307 $ 28,586 Amortization of Tax Credit Investments: Affordable housing tax credit investment losses $ 2,748 $ 2,077 $ 2,594 Affordable housing tax credit investment impairment losses* 4,684 450 1,321 Other tax credit investment losses 2,866 790 1,079 Other tax credit investment impairment losses* 31,449 31,427 22,318 Total amortization of tax credit investments recorded in non-interest expense $ 41,747 $ 34,744 $ 27,312 * As a result of the Tax Act, Valley incurred additional impairment of $2.2 million and $2.1 million related to affordable housing tax credit investments and other tax credit investments, respectively, during the fourth quarter of 2017.

Tax Credit Investments

Tax Credit Investments	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Tax Credit Investments	INCOME TAXES (Note 13) The U.S. Tax Cuts and Jobs Act (the "Tax Act") was enacted on December 22, 2017 and introduces significant changes to U.S. income tax law. Effective in 2018, the Tax Act reduces the U.S. statutory tax rate from 35 percent to 21 percent. In response to the Tax Act, the SEC staff issued guidance on accounting for the tax effects of the Tax Act. The guidance provides a one-year measurement period for companies to complete the accounting. Valley reflected the income tax effects of those aspects of the Tax Act for which the accounting is complete. To the extent Valley’s accounting for certain income tax effects of the Tax Act is incomplete but it can determine a reasonable estimate, Valley recorded a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply the provisions of the tax laws that were in effect immediately before the enactment of the Tax Act. Due to the timing of the enactment and the complexity involved in applying the provisions of the Tax Act, Valley has made reasonable estimates of the effects and recorded provisional amounts in its financial statements as of December 31, 2017. As Valley collects and prepares necessary data, and interprets the Tax Act and any additional guidance issued by the U.S. Treasury Department, the IRS, and other standard-setting bodies, Valley may adjust the provisional amounts. Information needed to adjust provisional amounts are the completion of all 2017 tax returns. The potential adjustments may materially impact Valley’s provision for income taxes and effective tax rate in the period in which the adjustments are made. The accounting for the tax effects of the Tax Act will be completed in 2018. Income tax expense for the years ended December 31, 2017 , 2016 and 2015 consisted of the following: 2017 2016 2015 (in thousands) Current expense (benefit): Federal $ 8,483 $ 25,176 $ 7,978 State 5,500 12,904 (493 ) 13,983 38,080 7,485 Deferred expense (benefit): Federal 49,169 10,658 (7,539 ) State 27,679 16,496 23,992 76,848 27,154 16,453 Total income tax expense $ 90,831 $ 65,234 $ 23,938 The tax effects of temporary differences that gave rise to the significant portions of the deferred tax assets and liabilities as of December 31, 2017 and 2016 are as follows: 2017 2016 (in thousands) Deferred tax assets: Allowance for loan losses $ 34,885 $ 47,485 Depreciation 8,336 12,432 Employee benefits 10,596 16,121 Investment securities, including other-than-temporary impairment losses 5,021 17,272 Net operating loss carryforwards 30,658 46,667 Purchase accounting 18,819 33,172 Other 21,930 22,183 Total deferred tax assets 130,245 195,332 Deferred tax liabilities: Pension plans 18,912 24,575 Other investments 13,234 20,831 Deferred income 37,952 — Other 12,651 20,418 Total deferred tax liabilities 82,749 65,824 Net deferred tax asset (included in other assets) $ 47,496 $ 129,508 Valley's federal net operating loss carryforwards totaled approximately $71.6 million at December 31, 2017 and expire during the period from 2029 through 2034. State net operating loss carryforwards totaled approximately $405 million at December 31, 2017 and expire during the period from 2029 through 2037. Valley’s state alternative minimum tax credit carryforward was approximately $2.9 million at December 31, 2017 and can be carried forward indefinitely. Within the "Other" category of deferred tax assets in the table above, Valley has $6.1 million of tax credit carryforwards which expire in 2037. 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, 2017 , 2016 and 2015 were as follows: 2017 2016 2015 (in thousands) Federal income tax at expected statutory rate $ 88,458 $ 81,683 $ 44,413 Increase (decrease) due to: State income tax expense, net of federal tax effect 21,046 19,197 15,274 Tax-exempt interest, net of interest incurred to carry tax-exempt securities (5,245 ) (5,308 ) (4,864 ) Bank owned life insurance (2,568 ) (2,343 ) (2,385 ) Tax credits from securities and other investments (27,037 ) (25,954 ) (28,988 ) Impact of the Tax Act 15,441 — — Other, net 736 (2,041 ) 488 Income tax expense $ 90,831 $ 65,234 $ 23,938 A reconciliation of Valley’s gross unrecognized tax benefits for 2017 , 2016 and 2015 are presented in the table below: 2017 2016 2015 (in thousands) Beginning balance $ 16,144 $ 19,892 $ 18,647 Additions based on tax positions related to prior years 1,121 3,958 1,245 Settlements with taxing authorities (13,027 ) (4,820 ) — Reductions due to expiration of statute of limitations — (2,886 ) — Ending balance $ 4,238 $ 16,144 $ 19,892 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 $4.2 million within the next 12 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 $1.8 million and $4.6 million of interest associated with Valley’s uncertain tax positions at December 31, 2017 and 2016 , 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 2013. 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 12 months. Valley has considered, for all open audits, any potential adjustments in establishing our reserve for unrecognized tax benefits as of December 31, 2017 . 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, 2017 and 2016 : December 31, 2017 2016 (in thousands) Other Assets: Affordable housing tax credit investments, net $ 22,135 $ 29,567 Other tax credit investments, net 42,015 44,763 Total tax credit investments, net $ 64,150 $ 74,330 Other Liabilities: Unfunded affordable housing tax credit commitments $ 3,690 $ 4,850 Unfunded other tax credit commitments 15,020 7,276 Total unfunded tax credit commitments $ 18,710 $ 12,126 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, 2017 , 2016 and 2015 : 2017 2016 2014 (in thousands) Components of Income Tax Expense: Affordable housing tax credits and other tax benefits $ 7,383 $ 5,013 $ 4,709 Other tax credit investment credits and tax benefits 35,530 33,294 23,877 Total reduction in income tax expense $ 42,913 $ 38,307 $ 28,586 Amortization of Tax Credit Investments: Affordable housing tax credit investment losses $ 2,748 $ 2,077 $ 2,594 Affordable housing tax credit investment impairment losses* 4,684 450 1,321 Other tax credit investment losses 2,866 790 1,079 Other tax credit investment impairment losses* 31,449 31,427 22,318 Total amortization of tax credit investments recorded in non-interest expense $ 41,747 $ 34,744 $ 27,312 * As a result of the Tax Act, Valley incurred additional impairment of $2.2 million and $2.1 million related to affordable housing tax credit investments and other tax credit investments, respectively, during the fourth quarter of 2017.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2017
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) 2018 $ 26,535 $ 2,259 $ 24,276 2019 26,043 2,123 23,920 2020 26,150 2,077 24,073 2021 25,413 2,009 23,404 2022 24,559 1,891 22,668 Thereafter 257,986 8,130 249,856 Total lease commitments $ 386,686 $ 18,489 $ 368,197 Net occupancy expense for years ended December 31, 2017 , 2016 , and 2015 included net rental expense of $27.7 million , $27.7 million , and $31.7 million , respectively, net of rental income of $3.9 million , $4.0 million , and $3.8 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, 2017 and 2016 : 2017 2016 (in thousands) Commitments under commercial loans and lines of credit $ 3,401,653 $ 3,416,255 Home equity and other revolving lines of credit 1,006,329 904,999 Standby letters of credit 250,536 217,695 Outstanding residential mortgage loan commitments 192,685 108,063 Commitments to sell loans 57,405 147,250 Commitments under unused lines of credit—credit card 54,906 49,715 Commercial letters of credit 2,115 4,960 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 adverse outcome or settlement 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. Disclosure is also required of the estimate of the reasonably possible loss or range of loss, unless an estimate cannot be made. 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 matters 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 possible losses related to the matter can be reasonably estimated. Merrick Bank Corporation v. Valley National Bank and American Express Travel Related Services v. Valley National Bank . 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, a charter operator, 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 March 2018. 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. In April 2017, Valley filed summary judgment motions on all of the remaining counts in both the Merrick and American Express cases. Merrick and American Express also filed summary judgment motions against Valley. In an opinion in December 2017, the Court denied in their entirety the summary judgment motions filed by Merrick and American Express. The Court granted Valley summary judgment on four of the six remaining counts against Valley. The Court did not grant Valley summary judgment on the negligence and contract counts in the complaints. On December 14, 2017, Valley moved to have the court reconsider its decision not to grant summary judgment on those two counts. On January 29, 2018, the Court denied Valley’s motion for reconsideration. A final pretrial conference is scheduled for March 8, 2018 and the Court has set a Trial Date for April 10, 2018. Maritza Gaston and George Gallart v. Valley National Bancorp and Valley National Bank. On April 6, 2017, Valley was served with a Class and Collective Action Complaint, filed in the Eastern District of New York, alleging that Valley had violated both Federal and State wage and hour laws and the Fair Labor Standards Act and seeking to recover overtime compensation on behalf of a class of Valley employees. While Branch Service Managers are classified by Valley as “exempt” employees and do not receive overtime pay, plaintiff’s counsel claims that Branch Service Managers perform non-exempt duties, should therefore be classified as non-exempt hourly employees and should have been paid overtime for any time worked in excess of 40 hours per week. Valley’s outside employment counsel filed an Answer on behalf of Valley disputing Plaintiffs’ allegations. Plaintiffs filed a formal Notice for Conditional Certification of the Class, which was granted by the Federal Magistrate on December 6, 2017. On January 5, 2018, Valley filed an Objection Brief requesting that the Federal Judge assigned to this case overturn the Federal Magistrate’s Order for Certification. The Court has not acted on that request at the time of preparation of this report. The exact number of employees that may be part of the Class has not yet been determined and the plaintiff’s counsel has not yet asserted the amount of damages claimed. Plaintiffs and Valley have agreed to enter into non-binding mediation which is scheduled for March 27, 2018. At December 31, 2017, Valley could not estimate an amount or range of reasonably possible losses related to both matters 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, 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, 2017 , Valley had the following cash flow hedge derivatives: • 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, 2017 , Valley had one interest rate swap with a notional amount of approximately $7.8 million used to hedge the change in the fair value of a commercial loan. 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 the fourth quarter of 2017, Valley entered into risk participation agreements with external lenders where banks are sharing their risk of default on the interest rate swaps on participated loans. Valley would either pay or receive a fee depending on the participation type. Risk participation agreements are credit derivatives not designated as hedges. Credit derivatives are not speculative and are not used to manage interest rate risk in assets or liabilities. Changes in the fair value in credit derivatives are recognized directly in earnings. At December 31, 2017 , Valley had 7 credit swaps with an aggregate notional amount of $40.6 million related to risk participation agreements. At December 31, 2017 , Valley had one "steepener" swap with a total current notional amount of $14.5 million where the receive rate on the swap mirrors the pay rate on the brokered deposits. The rate paid on these types of hybrid instruments are based on a formula derived from the spread between the long and short ends of the constant maturity swap (CMS) rate curve. Although these types of 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 three-month LIBOR rate and therefore provide an effective economic hedge. Valley 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, 2017 December 31, 2016 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 $ 650 $ 81 * $ 607,000 $ 802 $ 15,641 $ 707,000 Fair value hedge interest rate swaps — 637 7,775 — 986 7,999 Total derivatives designated as hedging instruments $ 650 $ 718 $ 614,775 $ 802 $ 16,627 $ 714,999 Derivatives not designated as hedging instruments: Interest rate swaps, and embedded and credit derivatives $ 25,696 $ 23,494 * $ 1,687,005 $ 25,285 $ 25,284 $ 1,075,722 Mortgage banking derivatives 71 118 113,233 2,968 2,166 246,583 Total derivatives not designated as hedging instruments $ 25,767 $ 23,612 $ 1,800,238 $ 28,253 $ 27,450 $ 1,322,305 * The fair value for the Chicago Mercantile Exchange cleared derivative positions is inclusive of accrued interest payable and the portion of the cash collateral representing the variation margin posted with (or by) the applicable counterparties. Chicago Mercantile Exchange (CME) amended their rules to legally characterize the variation margin posted between counterparties to be classified as settlements of the outstanding derivative contracts instead of cash collateral. Effective January 1, 2017, Valley adopted the new rule on a prospective basis to classify its CME variation margin as a single-unit of account with the fair value of certain cash flow and non-designated derivative instruments. As a result, the fair value of the designated cash flow derivatives and non-designated interest rate swaps cleared with the CME were offset by variation margins totaling $9.5 million and $951 thousand , respectively, and reported in the table above on a net basis at December 31, 2017 . Gains (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: 2017 2016 2015 (in thousands) Amount of loss reclassified from accumulated other comprehensive loss to interest expense $ (8,579 ) $ (13,034 ) $ (7,075 ) Amount of gain (loss) recognized in other comprehensive income 1,005 (4,035 ) (12,360 ) The net gains or losses related to cash flow hedge ineffectiveness were immaterial during the years ended December 31, 2017 , 2016 and 2015 . The accumulated net after-tax losses related to effective cash flow hedges included in accumulated other comprehensive loss were $8.3 million and $12.5 million at December 31, 2017 and 2016 , 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 $4.8 million will be reclassified as an increase to interest expense in 2018 . Gains (losses) included in the consolidated statements of income related to interest rate derivatives designated as hedges of fair value were as follows: 2017 2016 2015 (in thousands) Derivative—interest rate swaps: Interest income $ 348 $ 320 $ 176 Interest expense — 6,670 1,400 Hedged item—loans, deposits and long-term borrowings: Interest income $ (348 ) $ (320 ) $ (176 ) Interest expense — (6,645 ) (1,473 ) During the years ended December 31, 2017 , 2016 and 2015 , the amounts recognized in non-interest expense related to the ineffectiveness of fair value hedges were immaterial. Net (losses) gains included in the consolidated statements of income related to derivative instruments not designated as hedging instruments were as follows: 2017 2016 2015 (in thousands) Non-designated hedge interest rate and credit derivatives Other non-interest expense $ (744 ) $ 690 $ 158 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, 2017 , Valley was in compliance with all of the provisions of its derivative counterparty agreements. As of December 31, 2017 , 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 $9.2 million . Valley has derivative counterparty agreements that require minimum collateral posting thresholds for certain counterparties. At December 31, 2017 , Valley had $41.9 million in collateral posted with its counterparties, net of CME variation margin.

Balance Sheet Offsetting

Balance Sheet Offsetting	12 Months Ended
	Dec. 31, 2017
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, 2017 and 2016 . Gross Amounts Not Offset Gross Amounts Recognized Gross Amounts Offset Net Amounts Presented Financial Instruments Cash Collateral Net Amount (in thousands) December 31, 2017 Assets: Interest rate caps and swaps $ 26,346 $ — $ 26,346 $ (5,376 ) $ — $ 20,970 Liabilities: Interest rate caps and swaps $ 24,212 $ — $ 24,212 $ (5,376 ) $ (8,141 ) (1) $ 10,695 Repurchase agreements 200,000 — 200,000 — (200,000 ) (2) — Total $ 224,212 $ — $ 224,212 $ (5,376 ) $ (208,141 ) $ 10,695 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 ) $ — (1) Represents the amount of collateral posted with counterparties that offsets net liabilities. Actual cash collateral posted with counterparties totaled $51.4 million and $52.4 million at December 31, 2017 and 2016 , 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, 2017
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. As of January 1, 2018, Valley and Valley National Bank are required to maintain a capital conservation buffer of 1.875 percent . As of December 31, 2017 and 2016 , Valley and Valley National Bank exceeded all capital adequacy requirements with the capital conservation buffer required to be phased in at these dates 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, 2017 and 2016 : 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, 2017 Total Risk-based Capital Valley $ 2,258,044 12.61 % $ 1,656,575 9.250 % N/A N/A Valley National Bank 2,185,967 12.23 1,653,088 9.250 $ 1,787,122 10.00 % Common Equity Tier 1 Capital Valley 1,651,849 9.22 1,029,763 5.750 N/A N/A Valley National Bank 1,961,316 10.97 1,027,595 5.750 1,161,629 6.50 Tier 1 Risk-based Capital Valley 1,864,279 10.41 1,298,397 7.250 N/A N/A Valley National Bank 1,961,316 10.97 1,295,663 7.250 1,429,698 8.00 Tier 1 Leverage Capital Valley 1,864,279 8.03 928,484 4.00 N/A N/A Valley National Bank 1,961,316 8.47 926,459 4.00 1,158,074 5.00 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

Common and Preferred Stock

Common and Preferred Stock	12 Months Ended
	Dec. 31, 2017
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 shares of its common stock in a registered public offering. The net proceeds of the offering totaled $106.4 million and were used to, among other things, support loan growth at the Bank during 2017 . Dividend Reinvestment Plan. As part of Valley's dividend reinvestment plan (DRIP), Valley may issue authorized and previously unissued or treasury shares of Valley common stock for purchases. 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 were issued directly from Valley. During 2017 , 2016 and 2015 , 713 thousand , 554 thousand , and 713 thousand common shares, respectively, were reissued from treasury stock or issued from authorized common shares under the DRIP for net proceeds totaling $8.2 million , $5.2 million and $7.0 million , respectively. The DRIP was terminated effective February 12, 2018. 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, 2017 . 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, 2017 , 2016 and 2015 . 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, 2017 , 2016 and 2015 , Valley purchased approximately 218 thousand , 328 thousand and 387 thousand shares, respectively, of its outstanding common stock at an average price of $12.12 , $9.73 and $9.95 , respectively, for such purpose. Preferred Stock Series A Issuance. 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 $111.6 million . Commencing June 30, 2025, Valley may redeem the preferred shares at the liquidation preference plus accrued and unpaid dividends, subject to certain conditions. Series B Issuance. On August 3, 2017, Valley issued 4.0 million shares of its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B, no par value per share, with a liquidation preference of $25 per share. Dividends on the preferred stock will accrue and be payable quarterly in arrears, at a fixed rate per annum equal to 5.50 percent from the original issuance date to, but excluding, September 30, 2022, and thereafter at a floating rate per annum equal to three-month LIBOR plus a spread of 3.578 percent. The net proceeds from the preferred stock offering totaled $98.1 million . Commencing September 30, 2022, Valley may redeem the preferred shares at the liquidation preference plus accrued and unpaid dividends, subject to certain conditions. Preferred stock is included in Valley's Additional Tier 1 capital and total risk-based capital at December 31, 2017 and 2016 .

Other Comprehensive Income

Other Comprehensive Income	12 Months Ended
	Dec. 31, 2017
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, 2017 , 2016 and 2015 . 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. 2017 2016 2015 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 gains (losses) arising during the period $ 636 $ (284 ) $ 352 $ (7,294 ) $ 3,001 $ (4,293 ) $ (3,458 ) $ 1,458 $ (2,000 ) Less reclassification adjustment for net losses (gains) included in net income (1) 20 (9 ) 11 (777 ) 312 (465 ) (2,487 ) 1,041 (1,446 ) Net change 656 (293 ) 363 (8,071 ) 3,313 (4,758 ) (5,945 ) 2,499 (3,446 ) Non-credit impairment losses on securities available for sale and held to maturity Net change in non-credit impairment losses on securities 849 (351 ) 498 719 (302 ) 417 (416 ) 175 (241 ) Less reclassification adjustment for accretion of credit impairment losses included in net income (2) (284 ) 117 (167 ) (921 ) 382 (539 ) (728 ) 304 (424 ) Net change 565 (234 ) 331 (202 ) 80 (122 ) (1,144 ) 479 (665 ) Unrealized gains and losses on derivatives (cash flow hedges) Net gains (losses) arising during the period 1,005 (429 ) 576 (4,035 ) 1,574 (2,461 ) (12,360 ) 5,121 (7,239 ) Less reclassification adjustment for net losses included in net income (3) 8,579 (3,551 ) 5,028 13,034 (5,393 ) 7,641 7,075 (2,948 ) 4,127 Net change 9,584 (3,980 ) 5,604 8,999 (3,819 ) 5,180 (5,285 ) 2,173 (3,112 ) Defined benefit pension plan Net (losses) gains arising during the period (3,843 ) 1,121 (2,722 ) 5,837 (2,539 ) 3,298 6,030 (2,586 ) 3,444 Amortization of prior service credit (cost ) (4) 268 (77 ) 191 (300 ) 119 (181 ) 206 (89 ) 117 Amortization of net loss (4) 381 (133 ) 248 294 (109 ) 185 790 (328 ) 462 Net change (3,194 ) 911 (2,283 ) 5,831 (2,529 ) 3,302 7,026 (3,003 ) 4,023 Total other comprehensive income (loss) $ 7,611 $ (3,596 ) $ 4,015 $ 6,557 $ (2,955 ) $ 3,602 $ (5,348 ) $ 2,148 $ (3,200 ) (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, 2017 , 2016 and 2015 : 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, 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 ) Other comprehensive income (loss) before reclassifications 352 498 576 (2,722 ) (1,296 ) Amounts reclassified from other comprehensive income (loss) 11 (167 ) 5,028 439 5,311 Other comprehensive income (loss), net 363 331 5,604 (2,283 ) 4,015 Reclassification due to the adoption of ASU No. 2018-02 (2,273 ) (69 ) (1,478 ) (4,107 ) (7,927 ) Balance-December 31, 2017 $ (12,004 ) $ (380 ) $ (8,338 ) $ (25,283 ) $ (46,005 )

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Data (Unaudited)	QUARTERLY FINANCIAL DATA (UNAUDITED) (Note 20) Quarters Ended 2017 March 31 June 30 September 30 December 31 (in thousands, except for share data) Interest income $ 199,116 $ 211,147 $ 211,650 $ 220,506 Interest expense 36,587 42,187 46,796 48,537 Net interest income 162,529 168,960 164,854 171,969 Provision for credit losses 2,470 3,632 1,640 2,200 Non-interest income: Gains on sales of loans, net 4,128 4,791 5,520 6,375 Other non-interest income 20,931 19,899 20,568 21,229 Non-interest expense: Amortization of tax credit investments 5,324 7,732 8,389 20,302 Other non-interest expense 115,628 111,507 124,176 116,015 Income before income taxes 64,166 70,779 56,737 61,056 Income tax expense 18,071 20,714 17,088 34,958 Net income 46,095 50,065 39,649 26,098 Dividend on preferred stock 1,797 1,797 2,683 3,172 Net income available to common shareholders 44,298 48,268 36,966 22,926 Earnings per common share: Basic $ 0.17 $ 0.18 $ 0.14 $ 0.09 Diluted 0.17 0.18 $ 0.14 0.09 Cash dividends declared per common share 0.11 0.11 0.11 0.11 Weighted average number of common shares outstanding: Basic 263,797,024 263,958,292 264,058,174 264,332,895 Diluted 264,546,266 264,778,242 264,936,220 265,288,067 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: Amortization of tax credit investments 7,264 7,646 6,450 13,384 Other non-interest expense 110,961 112,157 106,818 111,445 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

Parent Company Information

Parent Company Information	12 Months Ended
	Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Parent Company Information	PARENT COMPANY INFORMATION (Note 21) Condensed Statements of Financial Condition December 31, 2017 2016 (in thousands) Assets Cash $ 90,807 $ 68,927 Interest bearing deposits with banks — 82 Investment securities available for sale 254 239 Investments in and receivables due from subsidiaries 2,738,700 2,591,982 Other assets 36,277 36,188 Total Assets $ 2,866,038 $ 2,697,418 Liabilities and Shareholders’ Equity Dividends payable to shareholders $ 33,100 $ 29,477 Long-term borrowings 235,153 236,731 Junior subordinated debentures issued to capital trusts 41,774 41,577 Accrued expenses and other liabilities 22,846 12,477 Shareholders’ equity 2,533,165 2,377,156 Total Liabilities and Shareholders’ Equity $ 2,866,038 $ 2,697,418 Condensed Statements of Income Years Ended December 31, 2017 2016 2015 (in thousands) Income Dividends from subsidiary $ 122,000 $ 90,000 $ 110,000 Income from subsidiary 4,550 4,550 2,363 Gains on securities transactions, net — 239 — Other interest and income 135 34 211 Total Income 126,685 94,823 112,574 Total Expenses 39,621 33,604 20,578 Income before income tax benefit and equity in undistributed earnings (losses) of subsidiary 87,064 61,219 91,996 Income tax benefit (30,179 ) (23,349 ) (21,939 ) Income before equity in undistributed earnings (losses) of subsidiary 117,243 84,568 113,935 Equity in undistributed earnings (losses) of subsidiary 44,664 83,578 (10,978 ) Net Income 161,907 168,146 102,957 Dividends on preferred stock 9,449 7,188 3,813 Net Income Available to Common Shareholders $ 152,458 $ 160,958 $ 99,144 Condensed Statements of Cash Flows Years Ended December 31, 2017 2016 2015 (in thousands) Cash flows from operating activities: Net Income $ 161,907 $ 168,146 $ 102,957 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed (earnings) losses of subsidiary (44,664 ) (83,578 ) 10,978 Stock-based compensation 12,204 10,032 7,575 Net amortization of premiums and accretion of discounts on securities 197 163 162 Gains on securities transactions, net — (239 ) — Net change in: Other assets (89 ) 8,007 (41,452 ) Accrued expenses and other liabilities 8,737 18,381 9,604 Net cash provided by operating activities 138,292 120,912 89,824 Cash flows from investing activities: Investment securities available for sale: Sales — 739 49 Cash and cash equivalents acquired in acquisitions — — 109 Capital contributions to subsidiary (98,000 ) (106,000 ) (115,000 ) Subordinated debt issued by subsidiary — — (100,000 ) Net cash (used in) provided by investing activities (98,000 ) (105,261 ) (214,842 ) Cash flows from financing activities: Proceeds from issuance of long-term borrowings, net — — 98,897 Proceeds from issuance of preferred stock, net 98,101 — 111,590 Dividends paid to preferred shareholders (6,277 ) (7,188 ) (3,813 ) Dividends paid to common shareholders (115,881 ) (111,813 ) (102,279 ) Purchase of common shares to treasury (2,644 ) (3,191 ) (2,108 ) Common stock issued, net 8,207 112,085 7,898 Net cash (used in) provided by financing activities (18,494 ) (10,107 ) 110,185 Net change in cash and cash equivalents 21,798 5,544 (14,833 ) Cash and cash equivalents at beginning of year 69,009 63,465 78,298 Cash and cash equivalents at end of year $ 90,807 $ 69,009 $ 63,465

Business Segments

Business Segments	12 Months Ended
	Dec. 31, 2017
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 and automobile loans, and to a lesser extent, home equity loans, secured personal lines of credit and other consumer 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 and insurance services. The commercial lending segment is mainly comprised of floating rate and adjustable rate commercial and industrial loans and construction 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 and interest-bearing deposits with other banks. These investments are mainly comprised of fixed rate securities and depending on Valley's liquid cash position, federal funds sold and interest-bearing deposits with banks (primarily the Federal Reserve Bank of New York), as part of its asset/liability management strategies. The fixed rate investments are among of Valley’s assets that are least sensitive to 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, as well as 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, 2017 , 2016 and 2015 : Year Ended December 31, 2017 Consumer Lending Commercial Lending Investment Management Corporate and Other Adjustments Total ($ in thousands) Average interest earning assets (unaudited) $ 5,166,171 $ 12,652,832 $ 3,669,495 $ — $ 21,488,498 Interest income $ 182,508 $ 560,562 $ 107,972 $ (8,623 ) $ 842,419 Interest expense 39,018 95,562 27,714 11,813 174,107 Net interest income (loss) 143,490 465,000 80,258 (20,436 ) 668,312 Provision for credit losses 3,197 6,745 — — 9,942 Net interest income (loss) after provision for credit losses 140,293 458,255 80,258 (20,436 ) 658,370 Non-interest income 63,375 3,149 7,745 29,172 103,441 Non-interest expense 72,207 71,216 1,193 364,457 509,073 Internal expense transfer 68,007 166,847 48,393 (283,247 ) — Income (loss) before income taxes $ 63,454 $ 223,341 $ 38,417 $ (72,474 ) $ 252,738 Return on average interest earning assets (pre-tax) (unaudited) 1.23 % 1.77 % 1.05 % N/A 1.18 % 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 %

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
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, Florida and Alabama. 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 Investment securities are classified at the time of purchase based on management’s intention, as securities held-to-maturity or securities available-for-sale securities. Investment securities classified as held-to-maturity are those that management has the positive intent and ability to hold until maturity. Investment securities held-to-maturity are carried at amortized cost, adjusted for amortization of premiums and accretion of discounts using the level-yield method over the contractual term of the securities, adjusted for actual prepayments, or to call date if the security was purchased at premium. Investment securities classified as available-for-sale are 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. Security transactions are recorded on a trade-date basis. 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. Valley's evaluation of other-than-temporary impairment 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. 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. Valley also assesses the intent and ability to hold the securities (as well as the likelihood of a near-term recovery), and the intent to sell the securities and whether it is more likely than not that we will be required to sell the securities before the recovery of their amortized cost basis. 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. If a determination is made that a debt security is other-than-temporarily impaired, Valley will estimate the amount of the unrealized loss that is attributable to credit and all other non-credit related factors. The credit related component will be recognized as an other-than-temporary impairment charge in non-interest income. The non-credit related component will be recorded as an adjustment to accumulated other comprehensive income (loss), net of tax. 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 2017 , 2016 and 2015 . 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. 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 originated for sale (and carried at fair value) 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 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 $38.7 million of residential mortgage and consumer (covered) loans subject to loss sharing agreements with the FDIC. 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). Valley had no allowance reserves related to PCI loans at December 31, 2017 and 2016 . 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 at least annually, 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 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. 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.
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, 2017 and 2016 . 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 analyzes 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 2017 and 2016 , 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 restricted 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. See Note 13 for details regarding the impact of the Tax Cuts and Jobs Act enacted by the U.S. government on December 22, 2017. 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.
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. Income tax effects are released from accumulated other comprehensive income on an individual unit of account basis. 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 Valley issued 4.6 million shares and 4.0 million shares of non-cumulative perpetual preferred stock in June 2015 and August 2017, respectively, which were initially recorded at fair value (see Note 18 for additional details on the preferred stock issuances). 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 calculates the credit valuation adjustments to the fair value of derivatives on a net basis by counterparty portfolio, as an accounting policy election under the provisions of ASU No. 2011-04.
New Authoritative Accounting Guidance	New Authoritative Accounting Guidance New Accounting Guidance Adopted in 2017 Accounting Standards Update (ASU) No. 2018-02, "Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income" was issued to address a narrow-scope financial reporting issue that arose as a consequence of the change in the tax law. On December 22, 2017, the U.S. federal government enacted a tax bill, H.R.1, An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018 (Tax Cuts and Jobs Act of 2017). The ASU No. 2018-02 permits a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the newly enacted federal corporate income tax rate. The amount of the reclassification would be the difference between the historical corporate income tax rate of 35 percent and the newly enacted 21 percent corporate income tax rate. The ASU No. 2018-02 is effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years with early adoption permitted, including adoption in any interim period, for (i) public business entities for reporting periods for which financial statements have not yet been issued and (ii) all other entities for reporting periods for which financial statements have not yet been made available for issuance. Valley early adopted ASU No.2018-02, which resulted in the reclassification of stranded tax effects from accumulated other comprehensive income to retained earnings totaling $7.9 million , reflected in the Consolidated Statements of Changes in Shareholders' Equity. See also Note 19 for further details. 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, recognition methods for forfeitures within stock compensation expense, and the cash flow presentation. Amendments related to the presentation of employee taxes paid on the statement of cash flows when an employer withholds shares to meet the minimum statutory withholding requirement should be applied retrospectively. Amendments requiring recognition of excess tax benefits and tax deficiencies in the income statement and the practical expedient for estimating expected term should be applied prospectively. ASU No. 2016-09 became effective for Valley for reporting periods after January 1, 2017 and did not have a significant impact on Valley's consolidated financial statements. At adoption, Valley elected to apply the amendments related to the presentation of excess tax benefits on the statement of cash flows using the prospective transition method. Valley also elected to continue to estimate the forfeitures of stock awards as a component of total stock compensation expense based on the number of awards that are expected to vest. New Accounting Guidance to be Adopted in the First Quarter of 2018 ASU No. 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities" amends the hedge accounting recognition and presentation requirements to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. ASU No. 2017-12 is effective for the annual and interim reporting periods beginning January 1, 2019 with early adoption permitted. ASU No. 2017-12 requires a modified retrospective method to be used at adoption with a cumulative-effect adjustment to opening retained earnings to eliminate the separate measurement of ineffectiveness form accumulated comprehensive income. Valley elected to early adopt ASU No. 2017-12 for annual and interim reporting periods beginning January 1, 2018. The adoption of ASU No. 2017-12 will not have a significant impact on Valley's consolidated financial statements. ASU No. 2017-07, "Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost" requires service cost to be reported in the same financial statement line item(s) as other current employee compensation costs. All other components of expense must be presented separately from service cost, and outside any subtotal of income from operations. Only the service cost component of expense is eligible to be capitalized. ASU No. 2017-07 should be applied retrospectively for the presentation of the service cost component and the other components of net periodic pension cost and net periodic postretirement benefit cost in the income statement and prospectively, on and after the effective date, for the capitalization of the service cost component of net periodic pension cost and net periodic postretirement benefit in assets. ASU No. 2017-07 is effective for Valley for its annual and interim reporting periods beginning January 1, 2018 with early adoption permitted. ASU No. 2017-07 will not have a significant impact on the presentation of Valley's consolidated financial statements. ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Asset Transfers of Assets Other than Inventory”. Under current GAAP, the tax effects of intercompany sales are deferred until the transferred asset is sold to a third party or otherwise recovered through amortization. This is an exception to the accounting for income taxes that generally requires recognition of current and deferred income taxes. The new guidance eliminates the exception for intercompany sales of assets. ASU No. 2016-16 is effective for Valley on January 1, 2018 and it should be applied using the modified retrospective method. As a result, Valley expects to record a $15.4 million cumulative effect adjustment that will reduce retained earnings effective January 1, 2018. 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 flows. 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 annual and interim reporting periods beginning January 1, 2018 and it should be applied using a retrospective transition method to each period presented. ASU No. 2016-15 will not have a significant impact on the presentation of Valley's consolidated statements of cash flows. 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 will not have a material effect on Valley’s consolidated financial statements. ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)" and subsequent related updates modifies the guidance used to recognize revenue from contracts with customers for transfers of goods or services and transfers of non-financial assets, unless those contracts are within the scope of other guidance. The updates also require new qualitative and quantitative disclosures, including disaggregation of revenues and descriptions of performance obligations. Valley adopted the guidance on January 1, 2018 using the modified retrospective method with a cumulative-effect adjustment to opening retained earnings. The guidance does not apply to revenue associated with financial instruments, including loans and securities that are accounted for under other U.S. GAAP. Accordingly, the new revenue recognition standard was not expected to have a material impact on Valley’s consolidated financial statements. Valley has completed its review of non-interest income revenue streams within the scope of the guidance and an assessment of its revenue contracts and, as a result, did not identify material changes related to the timing or amount of revenue recognition. Therefore, Valley does not expect an adjustment to opening retained earnings at January 1, 2018 due to the adoption of this standard. Valley has also concluded that additional disaggregation of revenue categories (as reported in the consolidated financial statements for December 31, 2017) that are within the scope of the new guidance will not be necessary. However, Valley will provide additional qualitative disclosures regarding such revenues as required by the new guidance. New Accounting Guidance Not Yet Adopted ASU No. 2017-08, "Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities" shortens the amortization period for certain callable debt securities held at a premium. ASU No. 2017-08 requires the premium to be amortized to the earliest call date. The accounting for securities held at a discount does not change and the discount continues to be amortized as an adjustment to yield over the contractual life (to maturity) of the instrument. ASU No. 2017-08 is effective for Valley for the annual and interim reporting periods beginning January 1, 2019 with early adoption permitted, and is to be applied using modified retrospective method. Additionally, in the period of adoption, entities should provide disclosures about a change in accounting principle. ASU No. 2017-08 is not expected to have a significant impact on Valley's consolidated financial statements. 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 January 1, 2020 and is not expected to have a significant impact on the presentation of Valley's consolidated financial statements. Early adoption is permitted for annual and interim goodwill impairment testing dates after January 1, 2017. 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 all expected losses over the lives of the assets 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 nonaccretable 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 Valley's loan and investment portfolios at the adoption date, and the economic conditions and forecasts at that date. 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.

Summary of Significant Accoun31

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Calculation of 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, 2017 , 2016 and 2015 : 2017 2016 2015 (in thousands, except for share data) Net income available to common shareholders $ 152,458 $ 160,958 $ 99,144 Basic weighted-average number of common shares outstanding 264,038,123 254,841,571 234,405,909 Plus: Common stock equivalents 850,884 426,765 31,091 Diluted weighted-average number of common shares outstanding 264,889,007 255,268,336 234,437,000 Earnings per common share: Basic $ 0.58 $ 0.63 $ 0.42 Diluted 0.58 0.63 0.42

Fair Value Measurement of Ass32

Fair Value Measurement of Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2017
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, 2017 and 2016 . 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 $ 49,642 $ 49,642 $ — $ — U.S. government agency securities 42,505 — 42,505 — Obligations of states and political subdivisions 112,884 — 112,884 — Residential mortgage-backed securities 1,223,295 — 1,215,935 7,360 Trust preferred securities 3,214 — 3,214 — Corporate and other debt securities 51,164 7,783 43,381 — Equity securities 11,201 1,382 9,819 — Total available for sale 1,493,905 58,807 1,427,738 7,360 Loans held for sale (1) 15,119 — 15,119 — Other assets (2) 26,417 — 26,417 — Total assets $ 1,535,441 $ 58,807 $ 1,469,274 $ 7,360 Liabilities Other liabilities (2) $ 24,330 $ — $ 24,330 $ — Total liabilities $ 24,330 $ — $ 24,330 $ — Non-recurring fair value measurements: Collateral dependent impaired loans (3) $ 48,373 $ — $ — $ 48,373 Loan servicing rights 5,350 — — 5,350 Foreclosed assets 3,472 — — 3,472 Total $ 57,195 $ — $ — $ 57,195 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 4,532 — — 4,532 Total $ 16,406 $ — $ — $ 16,406 (1) Represents residential mortgage loans held for sale that are carried at fair value and had contractual unpaid principal balances totaling approximately $14.8 million and $58.2 million at December 31, 2017 and 2016 , respectively. (2) Derivative financial instruments are included in this category. (3) Excludes PCI loans.
Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis	The changes in Level 3 assets measured at fair value on a recurring basis for the years ended December 31, 2017 , 2016 and 2015 are summarized below: Available For Sale Securities 2017 2016 2015 (in thousands) Balance, beginning of the period $ 11,888 $ 13,793 $ 19,309 Net losses included in other comprehensive income (251 ) (203 ) (1,072 ) Sales (1,935 ) — (2,674 ) Settlements, net (2,342 ) (1,702 ) (1,770 ) Balance, end of the period $ 7,360 $ 11,888 $ 13,793
Schedule of Quantitative Information of 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, 2017 : Security Type Valuation Technique Unobservable Input Range Weighted Average Private label mortgage-backed securities Discounted cash flow Prepayment rate 11.5 - 27.3% 19.1 % Default rate 0.9 - 38.9 8.3 Loss severity 45.0 - 62.6 57.1
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, 2017 and 2016 were as follows: December 31, 2017 2016 Fair Value Hierarchy Carrying Amount Fair Value Carrying Amount Fair Value (in thousands) Financial assets Cash and due from banks Level 1 $ 243,310 $ 243,310 $ 220,791 $ 220,791 Interest bearing deposits with banks Level 1 172,800 172,800 171,710 171,710 Investment securities held to maturity: U.S. Treasury securities Level 1 138,676 145,257 138,830 147,495 U.S. government agency securities Level 2 9,859 9,981 11,329 11,464 Obligations of states and political subdivisions Level 2 465,878 477,479 566,590 577,826 Residential mortgage-backed securities Level 2 1,131,945 1,118,044 1,112,460 1,102,802 Trust preferred securities Level 2 49,824 40,088 59,804 47,290 Corporate and other debt securities Level 2 46,509 46,771 36,559 37,720 Total investment securities held to maturity 1,842,691 1,837,620 1,925,572 1,924,597 Net loans Level 3 18,210,724 17,562,153 17,121,684 16,756,655 Accrued interest receivable Level 1 73,990 73,990 66,816 66,816 Federal Reserve Bank and Federal Home Loan Bank stock (1) Level 1 178,668 178,668 147,127 147,127 Financial liabilities Deposits without stated maturities Level 1 14,589,941 14,589,941 14,591,837 14,591,837 Deposits with stated maturities Level 2 3,563,521 3,465,373 3,138,871 3,160,572 Short-term borrowings Level 1 748,628 679,316 1,080,960 1,081,751 Long-term borrowings Level 2 2,315,819 2,453,797 1,433,906 1,523,386 Junior subordinated debentures issued to capital trusts Level 2 41,774 37,289 41,577 45,785 Accrued interest payable (2) Level 1 14,161 14,161 10,675 10,675 (1) Included in other assets. (2) Included in accrued expenses and other liabilities.

Investment Securities (Tables)

Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2017
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, 2017 and 2016 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) December 31, 2017 U.S. Treasury securities $ 138,676 $ 6,581 $ — $ 145,257 U.S. government agency securities 9,859 122 — 9,981 Obligations of states and political subdivisions: Obligations of states and state agencies 244,272 7,083 (1,653 ) 249,702 Municipal bonds 221,606 6,199 (28 ) 227,777 Total obligations of states and political subdivisions 465,878 13,282 (1,681 ) 477,479 Residential mortgage-backed securities 1,131,945 4,842 (18,743 ) 1,118,044 Trust preferred securities 49,824 60 (9,796 ) 40,088 Corporate and other debt securities 46,509 532 (270 ) 46,771 Total investment securities held to maturity $ 1,842,691 $ 25,419 $ (30,490 ) $ 1,837,620 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
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, 2017 and 2016 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, 2017 Obligations of states and political subdivisions: Obligations of states and state agencies $ 6,342 $ (50 ) $ 53,034 $ (1,603 ) $ 59,376 $ (1,653 ) Municipal bonds 4,644 (25 ) 561 (3 ) 5,205 (28 ) Total obligations of states and political subdivisions 10,986 (75 ) 53,595 (1,606 ) 64,581 (1,681 ) Residential mortgage-backed securities 344,216 (2,357 ) 570,969 (16,386 ) 915,185 (18,743 ) Trust preferred securities — — 38,674 (9,796 ) 38,674 (9,796 ) Corporate and other debt securities 9,980 (270 ) — — 9,980 (270 ) Total $ 365,182 $ (2,702 ) $ 663,238 $ (27,788 ) $ 1,028,420 $ (30,490 ) 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 )
Contractual Maturities of Debt Securities Held to Maturity	The contractual maturities of investments in debt securities held to maturity at December 31, 2017 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, 2017 Amortized Cost Fair Value (in thousands) Due in one year $ 32,026 $ 32,320 Due after one year through five years 223,337 228,738 Due after five years through ten years 322,061 335,740 Due after ten years 133,322 122,778 Residential mortgage-backed securities 1,131,945 1,118,044 Total investment securities held to maturity $ 1,842,691 $ 1,837,620
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, 2017 and 2016 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) December 31, 2017 U.S. Treasury securities $ 50,997 $ — $ (1,355 ) $ 49,642 U.S. government agency securities 42,384 158 (37 ) 42,505 Obligations of states and political subdivisions: Obligations of states and state agencies 38,435 158 (374 ) 38,219 Municipal bonds 74,752 477 (564 ) 74,665 Total obligations of states and political subdivisions 113,187 635 (938 ) 112,884 Residential mortgage-backed securities 1,239,534 2,423 (18,662 ) 1,223,295 Trust preferred securities* 3,726 — (512 ) 3,214 Corporate and other debt securities 50,701 623 (160 ) 51,164 Equity securities 10,505 1,190 (494 ) 11,201 Total investment securities available for sale $ 1,511,034 $ 5,029 $ (22,158 ) $ 1,493,905 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 * Includes one and two pooled trust preferred securities, principally collateralized by securities issued by banks and insurance companies at December 31, 2017 and 2016, respectively.
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, 2017 and 2016 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, 2017 U.S. Treasury securities $ 916 $ (2 ) $ 48,726 $ (1,353 ) $ 49,642 $ (1,355 ) U.S. government agency securities 31,177 (37 ) — — 31,177 (37 ) Obligations of states and political subdivisions: Obligations of states and state agencies 13,337 (131 ) 7,792 (243 ) 21,129 (374 ) Municipal bonds 31,669 (256 ) 12,133 (308 ) 43,802 (564 ) Total obligations of states and political subdivisions 45,006 (387 ) 19,925 (551 ) 64,931 (938 ) Residential mortgage-backed securities 406,940 (2,461 ) 599,167 (16,201 ) 1,006,107 (18,662 ) Trust preferred securities — — 3,214 (512 ) 3,214 (512 ) Corporate and other debt securities 5,855 (45 ) 15,115 (115 ) 20,970 (160 ) Equity securities — — 5,150 (494 ) 5,150 (494 ) Total $ 489,894 $ (2,932 ) $ 691,297 $ (19,226 ) $ 1,181,191 $ (22,158 ) 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 )
Contractual Maturities of Investments Securities Available for Sale	The contractual maturities of investments securities available for sale at December 31, 2017 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, 2017 Amortized Cost Fair Value (in thousands) Due in one year $ 10,595 $ 10,562 Due after one year through five years 117,072 115,589 Due after five years through ten years 74,154 74,588 Due after ten years 59,174 58,670 Residential mortgage-backed securities 1,239,534 1,223,295 Equity securities 10,505 11,201 Total investment securities available for sale $ 1,511,034 $ 1,493,905
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, 2017 , 2016 and 2015 : 2017 2016 2015 (in thousands) Balance, beginning of period $ 4,916 $ 5,837 $ 8,947 Accretion of credit loss impairment due to an increase in expected cash flows (284 ) (921 ) (728 ) Sales (1,317 ) — (2,382 ) Balance, end of period $ 3,315 $ 4,916 $ 5,837
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, 2017 , 2016 and 2015 were as follows: 2017 2016 2015 (in thousands) Sales transactions: Gross gains $ — $ 271 $ 3,274 Gross losses (25 ) (58 ) (947 ) $ (25 ) $ 213 $ 2,327 Maturities and other securities transactions: Gross gains $ 43 $ 615 $ 293 Gross losses (38 ) (51 ) (133 ) $ 5 $ 564 $ 160 (Losses) gains on securities transactions, net $ (20 ) $ 777 $ 2,487

Loans (Tables)

Loans (Tables)	12 Months Ended
	Dec. 31, 2017
Receivables [Abstract]
Schedule of Loan Portfolio	The detail of the loan portfolio as of December 31, 2017 and 2016 was as follows: December 31, 2017 December 31, 2016 Non-PCI Loans PCI Loans* Total Non-PCI Loans PCI Loans* Total (in thousands) Loans: Commercial and industrial $ 2,549,065 $ 192,360 $ 2,741,425 $ 2,357,018 $ 281,177 $ 2,638,195 Commercial real estate: Commercial real estate 8,561,851 934,926 9,496,777 7,628,328 1,091,339 8,719,667 Construction 809,964 41,141 851,105 710,266 114,680 824,946 Total commercial real estate loans 9,371,815 976,067 10,347,882 8,338,594 1,206,019 9,544,613 Residential mortgage 2,717,744 141,291 2,859,035 2,684,195 183,723 2,867,918 Consumer: Home equity 373,631 72,649 446,280 376,213 92,796 469,009 Automobile 1,208,804 98 1,208,902 1,139,082 145 1,139,227 Other consumer 723,306 4,750 728,056 569,499 7,642 577,141 Total consumer loans 2,305,741 77,497 2,383,238 2,084,794 100,583 2,185,377 Total loans $ 16,944,365 $ 1,387,215 $ 18,331,580 $ 15,464,601 $ 1,771,502 $ 17,236,103 * PCI loans include covered loans (mostly consisting of residential mortgage loans) totaling $38.7 million and $70.4 million at December 31, 2017 and 2016 , respectively.
Changes in Accretable Yield for PCI Loans	The following table presents changes in the accretable yield for PCI loans for the years ended December 31, 2017 and 2016 : 2017 2016 (in thousands) Balance, beginning of period $ 294,514 $ 415,179 Accretion (89,770 ) (107,482 ) Net increase (decrease) in expected cash flows 77,265 (9,989 ) Other, net — (3,194 ) Balance, end of period $ 282,009 $ 294,514
Changes in Amounts of Loans and Advances to the Related Parties	The following table summarizes the changes in the total amounts of loans and advances to the related parties during the year ended December 31, 2017 : 2017 (in thousands) Outstanding at beginning of year $ 165,320 New loans and advances 7,307 Repayments (21,362 ) Outstanding at end of year $ 151,265
Past Due, Non-Accrual and Current 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, 2017 and 2016 : 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, 2017 Commercial and industrial $ 3,650 $ 544 $ — $ 20,890 $ 25,084 $ 2,523,981 $ 2,549,065 Commercial real estate: Commercial real estate 11,223 — 27 11,328 22,578 8,539,273 8,561,851 Construction 12,949 18,845 — 732 32,526 777,438 809,964 Total commercial real estate loans 24,172 18,845 27 12,060 55,104 9,316,711 9,371,815 Residential mortgage 12,669 7,903 2,779 12,405 35,756 2,681,988 2,717,744 Consumer loans: Home equity 1,009 94 — 1,777 2,880 370,751 373,631 Automobile 5,707 987 271 73 7,038 1,201,766 1,208,804 Other consumer 1,693 118 13 20 1,844 721,462 723,306 Total consumer loans 8,409 1,199 284 1,870 11,762 2,293,979 2,305,741 Total $ 48,900 $ 28,491 $ 3,090 $ 47,225 $ 127,706 $ 16,816,659 $ 16,944,365 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
Impaired Loans by Loan Portfolio Class	The following table presents the information about impaired loans by loan portfolio class at December 31, 2017 and 2016 : Recorded Investment With No Related Allowance Recorded Investment With Related Allowance Total Recorded Investment Unpaid Contractual Principal Balance Related Allowance (in thousands) December 31, 2017 Commercial and industrial $ 9,946 $ 75,553 $ 85,499 $ 90,269 $ 11,044 Commercial real estate: Commercial real estate 28,709 29,771 58,480 62,286 2,718 Construction 1,904 467 2,371 2,394 17 Total commercial real estate loans 30,613 30,238 60,851 64,680 2,735 Residential mortgage 5,654 8,402 14,056 15,332 718 Consumer loans: Home equity 3,096 664 3,760 4,917 64 Total consumer loans 3,096 664 3,760 4,917 64 Total $ 49,309 $ 114,857 $ 164,166 $ 175,198 $ 14,561 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
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, 2017 , 2016 and 2015 : 2017 2016 2015 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) Commercial and industrial $ 80,974 $ 1,459 $ 36,552 $ 1,045 $ 28,451 $ 893 Commercial real estate: Commercial real estate 54,799 1,908 59,633 2,122 77,154 2,380 Construction 3,258 86 5,790 182 16,399 534 Total commercial real estate loans 58,057 1,994 65,423 2,304 93,553 2,914 Residential mortgage 15,451 760 21,340 874 24,435 728 Consumer loans: Home equity 4,295 160 2,626 68 3,852 111 Total consumer loans 4,295 160 2,626 68 3,852 111 Total $ 158,777 $ 4,373 $ 125,941 $ 4,291 $ 150,291 $ 4,646
Non-PCI Loans by Loan Class Modified as TDRs	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, 2017 and 2016 were as follows: Years Ended December 31, 2017 2016 Troubled Debt Restructurings Subsequently Defaulted Number of Contracts Recorded Investment Number of Contracts Recorded Investment ($ in thousands) Commercial and industrial 7 $ 5,841 — $ — Commercial real estate 1 165 2 357 Residential mortgage 5 1,125 — — Consumer — — 4 853 Total 13 $ 7,131 6 $ 1,210 The following table presents non-PCI loans by loan class modified as TDRs during the years ended December 31, 2017 and 2016 . 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, 2017 and 2016 , respectively. Troubled Debt Restructurings Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment ($ in thousands) December 31, 2017 Commercial and industrial 90 $ 75,894 $ 69,020 Commercial real estate: Commercial real estate 6 23,781 23,548 Construction 3 1,188 932 Total commercial real estate 9 24,969 24,480 Residential mortgage 7 1,769 1,727 Total 106 $ 102,632 $ 95,227 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
Risk Category of Loans by Class of Loans	The following table presents the credit exposure by internally assigned risk rating by class of loans (excluding PCI loans) based on the most recent analysis performed at December 31, 2017 and 2016 . Credit exposure— by internally assigned risk rating Special Total Non-PCI Pass Mention Substandard Doubtful Loans (in thousands) December 31, 2017 Commercial and industrial $ 2,375,689 $ 62,071 $ 96,555 $ 14,750 $ 2,549,065 Commercial real estate 8,447,865 48,009 65,977 — 8,561,851 Construction 808,091 360 1,513 — 809,964 Total $ 11,631,645 $ 110,440 $ 164,045 $ 14,750 $ 11,920,880 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
Recorded Investment in Loan Classes Based on Payment Activity	The following table presents the recorded investment in PCI loans by class based on individual loan payment activity as of December 31, 2017 and 2016 : Credit exposure— Performing Non-Performing Total by payment activity Loans Loans PCI Loans (in thousands) December 31, 2017 Commercial and industrial $ 172,105 $ 20,255 $ 192,360 Commercial real estate 924,574 10,352 934,926 Construction 39,802 1,339 41,141 Residential mortgage 135,745 5,546 141,291 Consumer 76,901 596 77,497 Total $ 1,349,127 $ 38,088 $ 1,387,215 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 The following table presents the recorded investment in those loan classes based on payment activity as of December 31, 2017 and 2016 : Credit exposure— by payment activity Performing Loans Non-Performing Loans Total Non-PCI Loans (in thousands) December 31, 2017 Residential mortgage $ 2,705,339 $ 12,405 $ 2,717,744 Home equity 371,854 1,777 373,631 Automobile 1,208,731 73 1,208,804 Other consumer 723,286 20 723,306 Total $ 5,009,210 $ 14,275 $ 5,023,485 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

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	12 Months Ended
	Dec. 31, 2017
Receivables [Abstract]
Summary of Allowance for Credit Losses	The following table summarizes the allowance for credit losses at December 31, 2017 and 2016 : December 31, 2017 2016 (in thousands) Components of allowance for credit losses: Allowance for loan losses $ 120,856 $ 114,419 Allowance for unfunded letters of credit 3,596 2,185 Total allowance for credit losses $ 124,452 $ 116,604
Summary of Provision for Credit Losses	The following table summarizes the provision for credit losses for the years ended December 31, 2017 , 2016 and 2015 : 2017 2016 2015 (in thousands) Components of provision for credit losses: Provision for loan losses $ 8,531 $ 11,873 $ 7,846 Provision for unfunded letters of credit 1,411 (4 ) 255 Total provision for credit losses $ 9,942 $ 11,869 $ 8,101
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, 2017 and 2016 : Commercial and Industrial Commercial Real Estate Residential Mortgage Consumer Total (in thousands) December 31, 2017 Allowance for loan losses: Beginning balance $ 50,820 $ 55,851 $ 3,702 $ 4,046 $ 114,419 Loans charged-off (5,421 ) (559 ) (530 ) (4,564 ) (11,074 ) Charged-off loans recovered 4,736 1,425 1,016 1,803 8,980 Net (charge-offs) recoveries (685 ) 866 486 (2,761 ) (2,094 ) Provision for loan losses 7,097 (1,763 ) (583 ) 3,780 8,531 Ending balance $ 57,232 $ 54,954 $ 3,605 $ 5,065 $ 120,856 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) recoveries (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
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, 2017 and 2016 . 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, 2017 Allowance for loan losses: Individually evaluated for impairment $ 11,044 $ 2,735 $ 718 $ 64 $ 14,561 Collectively evaluated for impairment 46,188 52,219 2,887 5,001 106,295 Total $ 57,232 $ 54,954 $ 3,605 $ 5,065 $ 120,856 Loans: Individually evaluated for impairment $ 85,499 $ 60,851 $ 14,056 $ 3,760 $ 164,166 Collectively evaluated for impairment 2,463,566 9,310,964 2,703,688 2,301,981 16,780,199 Loans acquired with discounts related to credit quality 192,360 976,067 141,291 77,497 1,387,215 Total $ 2,741,425 $ 10,347,882 $ 2,859,035 $ 2,383,238 $ 18,331,580 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

Premises and Equipment, Net (Ta

Premises and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Components of Premises and Equipment, Net	At December 31, 2017 and 2016 , premises and equipment, net consisted of: 2017 2016 (in thousands) Land $ 77,235 $ 78,116 Buildings 210,335 210,012 Leasehold improvements 79,217 73,405 Furniture and equipment 255,189 240,424 Total premises and equipment 621,976 601,957 Accumulated depreciation and amortization (334,271 ) (310,777 ) Total premises and equipment, net $ 287,705 $ 291,180

Goodwill and Other Intangible37

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2017
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, 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 Balance at December 31, 2017 $ 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, 2017 and 2016 : Gross Intangible Assets Accumulated Amortization Valuation Allowance Net Intangible Assets (in thousands) December 31, 2017 Loan servicing rights $ 79,138 $ (57,054 ) $ (471 ) $ 21,613 Core deposits 43,396 (24,297 ) — 19,099 Other 4,087 (2,292 ) — 1,795 Total other intangible assets $ 126,621 $ (83,643 ) $ (471 ) $ 42,507 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
Schedule of Change in Loan Servicing Rights	The following table summarizes the change in loan servicing rights during the years ended December 31, 2017 , 2016 and 2015 : 2017 2016 2015 (in thousands) Loan servicing rights Balance at beginning of year $ 20,368 $ 16,681 $ 20,446 Origination of loan servicing rights 7,039 8,479 1,696 Amortization expense (5,323 ) (4,792 ) (5,461 ) Balance at end of year $ 22,084 $ 20,368 $ 16,681 Valuation allowance Balance at beginning of year $ (900 ) $ (289 ) $ (592 ) Impairment adjustment 429 (611 ) 303 Balance at end of year $ (471 ) $ (900 ) $ (289 ) Balance at end of year, net of valuation allowance $ 21,613 $ 19,468 $ 16,392
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) 2018 $ 5,180 $ 4,215 $ 249 2019 4,160 3,671 235 2020 3,331 3,127 220 2021 2,554 2,582 206 2022 2,039 2,038 191

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2017
Banking and Thrift [Abstract]
Scheduled Maturities of Time Deposits	The scheduled maturities of time deposits as of December 31, 2017 are as follows: Year Amount (in thousands) 2018 $ 1,920,543 2019 747,876 2020 316,238 2021 221,472 2022 198,264 Thereafter 159,128 Total time deposits $ 3,563,521

Borrowed Funds (Tables)

Borrowed Funds (Tables)	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Schedule of Short-Term Borrowings	Short-term borrowings at December 31, 2017 and 2016 consisted of the following: 2017 2016 (in thousands) Securities sold under agreements to repurchase $ 321,628 $ 298,960 FHLB advances 427,000 782,000 Total short-term borrowings $ 748,628 $ 1,080,960
Schedule of Long-Term Borrowings	Long-term borrowings at December 31, 2017 and 2016 consisted of the following: 2017 2016 (in thousands) FHLB advances, net (1) $ 1,980,666 $ 1,031,666 Securities sold under agreements to repurchase 100,000 165,000 Subordinated debt, net (2) 235,153 236,731 Other — 509 Total long-term borrowings $ 2,315,819 $ 1,433,906 (1) FHLB advances are presented net of unamortized prepayment penalties and other purchase accounting adjustments totaling $14.3 million and $18.3 million at December 31, 2017 and 2016, respectively. (2) Subordinated debt is presented net of unamortized debt issuance costs totaling $1.7 million and $1.9 million at December 31, 2017 and 2016, respectively.
Schedule of FHLB Repayment	The long-term FHLB advances at December 31, 2017 are scheduled for contractual balance repayments as follows: Year Amount (in thousands) 2018 $ 700,000 2019 255,000 2021 840,000 2022 200,000 Total long-term FHLB advances $ 1,995,000
Schedule of Repayment of Long-Term Borrowings for Securities Sold Under Agreements to Repurchase	The long-term repos at December 31, 2017 are scheduled for contractual balance repayments as follows: Year Amount (in thousands) 2018 $ 50,000 2022 50,000 Total long-term securities sold under agreements to repurchase $ 100,000

Junior Subordinated Debenture40

Junior Subordinated Debentures Issued to Capital Trusts (Tables)	12 Months Ended
	Dec. 31, 2017
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, 2017 and 2016 : GCB Capital Trust III State Bancorp Capital Trust I State Bancorp Capital Trust II ($ in thousands) Junior Subordinated Debentures: December 31, 2017 Carrying value (1) $ 24,743 $ 8,824 $ 8,207 Contractual principal balance 24,743 10,310 10,310 December 31, 2016 Carrying value (1) $ 24,777 $ 8,724 $ 8,076 Contractual principal balance 24,743 10,310 10,310 Annual interest rate (2) 3-month LIBOR+1.4% 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, 2017 and 2016 Face value $ 24,000 $ 10,000 $ 10,000 Annual distribution rate (2) 3-month LIBOR+1.4% 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) The carrying values include unamortized purchase accounting adjustments at December 31, 2017 and 2016. (2) Interest on GCB Capital Trust III was fixed at an annual rate of 6.96 percent until July 30, 2017, then it reset to a 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, 2017
Retirement Benefits [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, 2017 and 2016 : 2017 2016 (in thousands) Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 161,306 $ 157,661 Interest cost 5,713 6,681 Actuarial loss 10,148 2,047 Benefits paid (6,601 ) (5,546 ) Projected benefit obligation at end of year $ 170,566 $ 161,306 Change in fair value of plan assets: Fair value of plan assets at beginning of year $ 206,639 $ 189,414 Actual return on plan assets 21,468 22,424 Employer contributions 618 347 Benefits paid (6,601 ) (5,546 ) Fair value of plan assets at end of year* $ 222,124 $ 206,639 Funded status of the plan Asset recognized $ 51,558 $ 45,333 Accumulated benefit obligation 170,566 161,306 * Includes accrued interest receivable of $993 thousand and $606 thousand as of December 31, 2017 and 2016 , respectively.
Components of Net Periodic Pension Expense	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 $628 thousand of the net actuarial loss reported in the following table as of December 31, 2017 as a component of net periodic pension expense during 2018 . 2017 2016 (in thousands) Net actuarial loss $ 33,602 $ 30,140 Deferred tax benefit (14,044 ) (12,647 ) Total $ 19,558 $ 17,493
Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets for Non-Qualified Plans	The non-qualified plans had a projected benefit obligation, accumulated benefit obligation, and fair value of plan assets as follows: 2017 2016 (in thousands) Projected benefit obligation $ 20,175 $ 18,286 Accumulated benefit obligation 20,175 18,286 Fair value of plan assets — —
Components of Net Periodic Pension Income 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, 2017 , 2016 and 2015 : 2017 2016 2015 (in thousands) Interest cost $ 5,713 $ 6,681 $ 6,889 Expected return on plan assets (15,163 ) (14,539 ) (14,023 ) Amortization of net loss 381 294 790 Total net periodic pension income $ (9,069 ) $ (7,564 ) $ (6,344 )
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, 2017 and 2016 were as follows: 2017 2016 (in thousands) Net loss (gain) $ 3,843 $ (5,837 ) Prior service cost — 462 Amortization of prior service cost (35 ) — Amortization of actuarial loss (381 ) (294 ) Total recognized in other comprehensive income $ 3,427 $ (5,669 ) Total recognized in net periodic pension income and other comprehensive income/loss (before tax) $ (5,607 ) $ (13,233 )
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) 2018 $ 7,472 2019 7,957 2020 8,267 2021 8,602 2022 8,781 Thereafter 47,032
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, 2017 , 2016 and 2015 were as follows: 2017 2016 2015 Discount rate 4.12 % 4.33 % 4.02 % 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, 2017 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 38 % $ 84,791 $ 84,791 $ — $ — Corporate bonds 22 47,471 — 47,471 — Mutual funds 23 48,814 48,814 — — U.S. Treasury securities 13 28,671 28,671 — — Cash and money market funds 4 9,522 9,522 — — U.S. government agency securities * 1,862 — 1,862 — Total investments 100 % $ 221,131 $ 171,798 $ 49,333 $ — 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 $ — * 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 (RSAs) outstanding for the years ended December 31, 2017 , 2016 and 2015 : Restricted Stock Awards Outstanding 2017 2016 2015 Outstanding at beginning of year 2,100,816 2,755,138 2,574,616 Granted 608,786 544,307 886,427 Vested (736,575 ) (1,050,293 ) (559,958 ) Forfeited (201,325 ) (148,336 ) (145,947 ) Outstanding at end of year 1,771,702 2,100,816 2,755,138
Stock Options Activity	The following table summarizes stock options activity as of December 31, 2017 , 2016 and 2015 and changes during the years ended on those dates: 2017 2016 2015 Weighted Average Exercise Weighted Average Exercise Weighted Average Exercise Stock Options Shares Price Shares Price Shares Price Outstanding at beginning of year 732,489 $ 14 1,383,365 $ 16 1,828,591 $ 17 Granted — — — — 100,000 11 Forfeited or expired (285,509 ) 16 (650,876 ) 18 (545,226 ) 18 Outstanding at end of year 446,980 13 732,489 14 1,383,365 16 Exercisable at year-end 446,980 13 632,489 14 1,283,365 16
Stock Options Outstanding and Exercisable	The following table summarizes information about stock options outstanding and exercisable at December 31, 2017 : Options Outstanding and Exercisable Range of Exercise Prices Number of Options Weighted Average Remaining Contractual Life in Years Weighted Average Exercise Price $10-14 227,100 2.9 $ 12 14-15 217,963 0.4 14 15-17 1,917 0.4 16 446,980 1.7 13
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, 2017 , 2016 and 2015: Restricted Stock Awards Outstanding 2017 2016 2015 Outstanding at beginning of year 55,510 80,117 98,086 Vested (37,625 ) (24,607 ) (17,969 ) Outstanding at end of year 17,885 55,510 80,117

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Summary of Income Tax Expense	Income tax expense for the years ended December 31, 2017 , 2016 and 2015 consisted of the following: 2017 2016 2015 (in thousands) Current expense (benefit): Federal $ 8,483 $ 25,176 $ 7,978 State 5,500 12,904 (493 ) 13,983 38,080 7,485 Deferred expense (benefit): Federal 49,169 10,658 (7,539 ) State 27,679 16,496 23,992 76,848 27,154 16,453 Total income tax expense $ 90,831 $ 65,234 $ 23,938
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, 2017 and 2016 are as follows: 2017 2016 (in thousands) Deferred tax assets: Allowance for loan losses $ 34,885 $ 47,485 Depreciation 8,336 12,432 Employee benefits 10,596 16,121 Investment securities, including other-than-temporary impairment losses 5,021 17,272 Net operating loss carryforwards 30,658 46,667 Purchase accounting 18,819 33,172 Other 21,930 22,183 Total deferred tax assets 130,245 195,332 Deferred tax liabilities: Pension plans 18,912 24,575 Other investments 13,234 20,831 Deferred income 37,952 — Other 12,651 20,418 Total deferred tax liabilities 82,749 65,824 Net deferred tax asset (included in other assets) $ 47,496 $ 129,508
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, 2017 , 2016 and 2015 were as follows: 2017 2016 2015 (in thousands) Federal income tax at expected statutory rate $ 88,458 $ 81,683 $ 44,413 Increase (decrease) due to: State income tax expense, net of federal tax effect 21,046 19,197 15,274 Tax-exempt interest, net of interest incurred to carry tax-exempt securities (5,245 ) (5,308 ) (4,864 ) Bank owned life insurance (2,568 ) (2,343 ) (2,385 ) Tax credits from securities and other investments (27,037 ) (25,954 ) (28,988 ) Impact of the Tax Act 15,441 — — Other, net 736 (2,041 ) 488 Income tax expense $ 90,831 $ 65,234 $ 23,938
Summary of Reconciliation of Gross Unrecognized Tax Benefits	A reconciliation of Valley’s gross unrecognized tax benefits for 2017 , 2016 and 2015 are presented in the table below: 2017 2016 2015 (in thousands) Beginning balance $ 16,144 $ 19,892 $ 18,647 Additions based on tax positions related to prior years 1,121 3,958 1,245 Settlements with taxing authorities (13,027 ) (4,820 ) — Reductions due to expiration of statute of limitations — (2,886 ) — Ending balance $ 4,238 $ 16,144 $ 19,892

Tax Credit Investments (Tables)

Tax Credit Investments (Tables)	12 Months Ended
	Dec. 31, 2017
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, 2017 and 2016 : December 31, 2017 2016 (in thousands) Other Assets: Affordable housing tax credit investments, net $ 22,135 $ 29,567 Other tax credit investments, net 42,015 44,763 Total tax credit investments, net $ 64,150 $ 74,330 Other Liabilities: Unfunded affordable housing tax credit commitments $ 3,690 $ 4,850 Unfunded other tax credit commitments 15,020 7,276 Total unfunded tax credit commitments $ 18,710 $ 12,126
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, 2017 , 2016 and 2015 : 2017 2016 2014 (in thousands) Components of Income Tax Expense: Affordable housing tax credits and other tax benefits $ 7,383 $ 5,013 $ 4,709 Other tax credit investment credits and tax benefits 35,530 33,294 23,877 Total reduction in income tax expense $ 42,913 $ 38,307 $ 28,586 Amortization of Tax Credit Investments: Affordable housing tax credit investment losses $ 2,748 $ 2,077 $ 2,594 Affordable housing tax credit investment impairment losses* 4,684 450 1,321 Other tax credit investment losses 2,866 790 1,079 Other tax credit investment impairment losses* 31,449 31,427 22,318 Total amortization of tax credit investments recorded in non-interest expense $ 41,747 $ 34,744 $ 27,312 * As a result of the Tax Act, Valley incurred additional impairment of $2.2 million and $2.1 million related to affordable housing tax credit investments and other tax credit investments, respectively, during the fourth quarter of 2017.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2017
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) 2018 $ 26,535 $ 2,259 $ 24,276 2019 26,043 2,123 23,920 2020 26,150 2,077 24,073 2021 25,413 2,009 23,404 2022 24,559 1,891 22,668 Thereafter 257,986 8,130 249,856 Total lease commitments $ 386,686 $ 18,489 $ 368,197
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, 2017 and 2016 : 2017 2016 (in thousands) Commitments under commercial loans and lines of credit $ 3,401,653 $ 3,416,255 Home equity and other revolving lines of credit 1,006,329 904,999 Standby letters of credit 250,536 217,695 Outstanding residential mortgage loan commitments 192,685 108,063 Commitments to sell loans 57,405 147,250 Commitments under unused lines of credit—credit card 54,906 49,715 Commercial letters of credit 2,115 4,960
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, 2017 December 31, 2016 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 $ 650 $ 81 * $ 607,000 $ 802 $ 15,641 $ 707,000 Fair value hedge interest rate swaps — 637 7,775 — 986 7,999 Total derivatives designated as hedging instruments $ 650 $ 718 $ 614,775 $ 802 $ 16,627 $ 714,999 Derivatives not designated as hedging instruments: Interest rate swaps, and embedded and credit derivatives $ 25,696 $ 23,494 * $ 1,687,005 $ 25,285 $ 25,284 $ 1,075,722 Mortgage banking derivatives 71 118 113,233 2,968 2,166 246,583 Total derivatives not designated as hedging instruments $ 25,767 $ 23,612 $ 1,800,238 $ 28,253 $ 27,450 $ 1,322,305 * The fair value for the Chicago Mercantile Exchange cleared derivative positions is inclusive of accrued interest payable and the portion of the cash collateral representing the variation margin posted with (or by) the applicable counterparties.
Gains (Losses) Related to Interest Rate Derivatives Designated as Hedges of Cash Flows	Gains (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: 2017 2016 2015 (in thousands) Amount of loss reclassified from accumulated other comprehensive loss to interest expense $ (8,579 ) $ (13,034 ) $ (7,075 ) Amount of gain (loss) recognized in other comprehensive income 1,005 (4,035 ) (12,360 )
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: 2017 2016 2015 (in thousands) Derivative—interest rate swaps: Interest income $ 348 $ 320 $ 176 Interest expense — 6,670 1,400 Hedged item—loans, deposits and long-term borrowings: Interest income $ (348 ) $ (320 ) $ (176 ) Interest expense — (6,645 ) (1,473 )
Net (Losses) Gains Related to Derivative Instruments Not Designated as Hedging Instruments	Net (losses) gains included in the consolidated statements of income related to derivative instruments not designated as hedging instruments were as follows: 2017 2016 2015 (in thousands) Non-designated hedge interest rate and credit derivatives Other non-interest expense $ (744 ) $ 690 $ 158

Balance Sheet Offsetting (Table

Balance Sheet Offsetting (Tables)	12 Months Ended
	Dec. 31, 2017
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, 2017 and 2016 . Gross Amounts Not Offset Gross Amounts Recognized Gross Amounts Offset Net Amounts Presented Financial Instruments Cash Collateral Net Amount (in thousands) December 31, 2017 Assets: Interest rate caps and swaps $ 26,346 $ — $ 26,346 $ (5,376 ) $ — $ 20,970 Liabilities: Interest rate caps and swaps $ 24,212 $ — $ 24,212 $ (5,376 ) $ (8,141 ) (1) $ 10,695 Repurchase agreements 200,000 — 200,000 — (200,000 ) (2) — Total $ 224,212 $ — $ 224,212 $ (5,376 ) $ (208,141 ) $ 10,695 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 ) $ — (1) Represents the amount of collateral posted with counterparties that offsets net liabilities. Actual cash collateral posted with counterparties totaled $51.4 million and $52.4 million at December 31, 2017 and 2016 , 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, 2017 and 2016 . Gross Amounts Not Offset Gross Amounts Recognized Gross Amounts Offset Net Amounts Presented Financial Instruments Cash Collateral Net Amount (in thousands) December 31, 2017 Assets: Interest rate caps and swaps $ 26,346 $ — $ 26,346 $ (5,376 ) $ — $ 20,970 Liabilities: Interest rate caps and swaps $ 24,212 $ — $ 24,212 $ (5,376 ) $ (8,141 ) (1) $ 10,695 Repurchase agreements 200,000 — 200,000 — (200,000 ) (2) — Total $ 224,212 $ — $ 224,212 $ (5,376 ) $ (208,141 ) $ 10,695 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 ) $ — (1) Represents the amount of collateral posted with counterparties that offsets net liabilities. Actual cash collateral posted with counterparties totaled $51.4 million and $52.4 million at December 31, 2017 and 2016 , 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, 2017
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, 2017 and 2016 : 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, 2017 Total Risk-based Capital Valley $ 2,258,044 12.61 % $ 1,656,575 9.250 % N/A N/A Valley National Bank 2,185,967 12.23 1,653,088 9.250 $ 1,787,122 10.00 % Common Equity Tier 1 Capital Valley 1,651,849 9.22 1,029,763 5.750 N/A N/A Valley National Bank 1,961,316 10.97 1,027,595 5.750 1,161,629 6.50 Tier 1 Risk-based Capital Valley 1,864,279 10.41 1,298,397 7.250 N/A N/A Valley National Bank 1,961,316 10.97 1,295,663 7.250 1,429,698 8.00 Tier 1 Leverage Capital Valley 1,864,279 8.03 928,484 4.00 N/A N/A Valley National Bank 1,961,316 8.47 926,459 4.00 1,158,074 5.00 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

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2017
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, 2017 , 2016 and 2015 . 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. 2017 2016 2015 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 gains (losses) arising during the period $ 636 $ (284 ) $ 352 $ (7,294 ) $ 3,001 $ (4,293 ) $ (3,458 ) $ 1,458 $ (2,000 ) Less reclassification adjustment for net losses (gains) included in net income (1) 20 (9 ) 11 (777 ) 312 (465 ) (2,487 ) 1,041 (1,446 ) Net change 656 (293 ) 363 (8,071 ) 3,313 (4,758 ) (5,945 ) 2,499 (3,446 ) Non-credit impairment losses on securities available for sale and held to maturity Net change in non-credit impairment losses on securities 849 (351 ) 498 719 (302 ) 417 (416 ) 175 (241 ) Less reclassification adjustment for accretion of credit impairment losses included in net income (2) (284 ) 117 (167 ) (921 ) 382 (539 ) (728 ) 304 (424 ) Net change 565 (234 ) 331 (202 ) 80 (122 ) (1,144 ) 479 (665 ) Unrealized gains and losses on derivatives (cash flow hedges) Net gains (losses) arising during the period 1,005 (429 ) 576 (4,035 ) 1,574 (2,461 ) (12,360 ) 5,121 (7,239 ) Less reclassification adjustment for net losses included in net income (3) 8,579 (3,551 ) 5,028 13,034 (5,393 ) 7,641 7,075 (2,948 ) 4,127 Net change 9,584 (3,980 ) 5,604 8,999 (3,819 ) 5,180 (5,285 ) 2,173 (3,112 ) Defined benefit pension plan Net (losses) gains arising during the period (3,843 ) 1,121 (2,722 ) 5,837 (2,539 ) 3,298 6,030 (2,586 ) 3,444 Amortization of prior service credit (cost ) (4) 268 (77 ) 191 (300 ) 119 (181 ) 206 (89 ) 117 Amortization of net loss (4) 381 (133 ) 248 294 (109 ) 185 790 (328 ) 462 Net change (3,194 ) 911 (2,283 ) 5,831 (2,529 ) 3,302 7,026 (3,003 ) 4,023 Total other comprehensive income (loss) $ 7,611 $ (3,596 ) $ 4,015 $ 6,557 $ (2,955 ) $ 3,602 $ (5,348 ) $ 2,148 $ (3,200 ) (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, 2017 , 2016 and 2015 : 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, 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 ) Other comprehensive income (loss) before reclassifications 352 498 576 (2,722 ) (1,296 ) Amounts reclassified from other comprehensive income (loss) 11 (167 ) 5,028 439 5,311 Other comprehensive income (loss), net 363 331 5,604 (2,283 ) 4,015 Reclassification due to the adoption of ASU No. 2018-02 (2,273 ) (69 ) (1,478 ) (4,107 ) (7,927 ) Balance-December 31, 2017 $ (12,004 ) $ (380 ) $ (8,338 ) $ (25,283 ) $ (46,005 )

Quarterly Financial Data (Table

Quarterly Financial Data (Tables)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Summary of Quarterly Financial Data	Quarters Ended 2017 March 31 June 30 September 30 December 31 (in thousands, except for share data) Interest income $ 199,116 $ 211,147 $ 211,650 $ 220,506 Interest expense 36,587 42,187 46,796 48,537 Net interest income 162,529 168,960 164,854 171,969 Provision for credit losses 2,470 3,632 1,640 2,200 Non-interest income: Gains on sales of loans, net 4,128 4,791 5,520 6,375 Other non-interest income 20,931 19,899 20,568 21,229 Non-interest expense: Amortization of tax credit investments 5,324 7,732 8,389 20,302 Other non-interest expense 115,628 111,507 124,176 116,015 Income before income taxes 64,166 70,779 56,737 61,056 Income tax expense 18,071 20,714 17,088 34,958 Net income 46,095 50,065 39,649 26,098 Dividend on preferred stock 1,797 1,797 2,683 3,172 Net income available to common shareholders 44,298 48,268 36,966 22,926 Earnings per common share: Basic $ 0.17 $ 0.18 $ 0.14 $ 0.09 Diluted 0.17 0.18 $ 0.14 0.09 Cash dividends declared per common share 0.11 0.11 0.11 0.11 Weighted average number of common shares outstanding: Basic 263,797,024 263,958,292 264,058,174 264,332,895 Diluted 264,546,266 264,778,242 264,936,220 265,288,067 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: Amortization of tax credit investments 7,264 7,646 6,450 13,384 Other non-interest expense 110,961 112,157 106,818 111,445 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

Parent Company Information (Tab

Parent Company Information (Tables)	12 Months Ended
	Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Schedule of Condensed Statements of Financial Condition	Condensed Statements of Financial Condition December 31, 2017 2016 (in thousands) Assets Cash $ 90,807 $ 68,927 Interest bearing deposits with banks — 82 Investment securities available for sale 254 239 Investments in and receivables due from subsidiaries 2,738,700 2,591,982 Other assets 36,277 36,188 Total Assets $ 2,866,038 $ 2,697,418 Liabilities and Shareholders’ Equity Dividends payable to shareholders $ 33,100 $ 29,477 Long-term borrowings 235,153 236,731 Junior subordinated debentures issued to capital trusts 41,774 41,577 Accrued expenses and other liabilities 22,846 12,477 Shareholders’ equity 2,533,165 2,377,156 Total Liabilities and Shareholders’ Equity $ 2,866,038 $ 2,697,418
Schedule of Condensed Statements of Income	Condensed Statements of Income Years Ended December 31, 2017 2016 2015 (in thousands) Income Dividends from subsidiary $ 122,000 $ 90,000 $ 110,000 Income from subsidiary 4,550 4,550 2,363 Gains on securities transactions, net — 239 — Other interest and income 135 34 211 Total Income 126,685 94,823 112,574 Total Expenses 39,621 33,604 20,578 Income before income tax benefit and equity in undistributed earnings (losses) of subsidiary 87,064 61,219 91,996 Income tax benefit (30,179 ) (23,349 ) (21,939 ) Income before equity in undistributed earnings (losses) of subsidiary 117,243 84,568 113,935 Equity in undistributed earnings (losses) of subsidiary 44,664 83,578 (10,978 ) Net Income 161,907 168,146 102,957 Dividends on preferred stock 9,449 7,188 3,813 Net Income Available to Common Shareholders $ 152,458 $ 160,958 $ 99,144
Schedule of Condensed Statements of Cash Flows	Condensed Statements of Cash Flows Years Ended December 31, 2017 2016 2015 (in thousands) Cash flows from operating activities: Net Income $ 161,907 $ 168,146 $ 102,957 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed (earnings) losses of subsidiary (44,664 ) (83,578 ) 10,978 Stock-based compensation 12,204 10,032 7,575 Net amortization of premiums and accretion of discounts on securities 197 163 162 Gains on securities transactions, net — (239 ) — Net change in: Other assets (89 ) 8,007 (41,452 ) Accrued expenses and other liabilities 8,737 18,381 9,604 Net cash provided by operating activities 138,292 120,912 89,824 Cash flows from investing activities: Investment securities available for sale: Sales — 739 49 Cash and cash equivalents acquired in acquisitions — — 109 Capital contributions to subsidiary (98,000 ) (106,000 ) (115,000 ) Subordinated debt issued by subsidiary — — (100,000 ) Net cash (used in) provided by investing activities (98,000 ) (105,261 ) (214,842 ) Cash flows from financing activities: Proceeds from issuance of long-term borrowings, net — — 98,897 Proceeds from issuance of preferred stock, net 98,101 — 111,590 Dividends paid to preferred shareholders (6,277 ) (7,188 ) (3,813 ) Dividends paid to common shareholders (115,881 ) (111,813 ) (102,279 ) Purchase of common shares to treasury (2,644 ) (3,191 ) (2,108 ) Common stock issued, net 8,207 112,085 7,898 Net cash (used in) provided by financing activities (18,494 ) (10,107 ) 110,185 Net change in cash and cash equivalents 21,798 5,544 (14,833 ) Cash and cash equivalents at beginning of year 69,009 63,465 78,298 Cash and cash equivalents at end of year $ 90,807 $ 69,009 $ 63,465

Business Segments (Tables)

Business Segments (Tables)	12 Months Ended
	Dec. 31, 2017
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, 2017 , 2016 and 2015 : Year Ended December 31, 2017 Consumer Lending Commercial Lending Investment Management Corporate and Other Adjustments Total ($ in thousands) Average interest earning assets (unaudited) $ 5,166,171 $ 12,652,832 $ 3,669,495 $ — $ 21,488,498 Interest income $ 182,508 $ 560,562 $ 107,972 $ (8,623 ) $ 842,419 Interest expense 39,018 95,562 27,714 11,813 174,107 Net interest income (loss) 143,490 465,000 80,258 (20,436 ) 668,312 Provision for credit losses 3,197 6,745 — — 9,942 Net interest income (loss) after provision for credit losses 140,293 458,255 80,258 (20,436 ) 658,370 Non-interest income 63,375 3,149 7,745 29,172 103,441 Non-interest expense 72,207 71,216 1,193 364,457 509,073 Internal expense transfer 68,007 166,847 48,393 (283,247 ) — Income (loss) before income taxes $ 63,454 $ 223,341 $ 38,417 $ (72,474 ) $ 252,738 Return on average interest earning assets (pre-tax) (unaudited) 1.23 % 1.77 % 1.05 % N/A 1.18 % 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 %

Summary of Significant Accoun51

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) shares in Millions	1 Months Ended		12 Months Ended
	Aug. 31, 2017	Jun. 30, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jan. 01, 2018
Summary Of Significant Accounting Policies [Line Items]
Percentage of preferred stock issued by each REIT - less than			20.00%
Reserve balance in cash or deposits			$ 122,000,000	$ 113,800,000
Allowance for loan losses			120,856,000	114,419,000	$ 106,178,000
FDIC loss-share receivable			6,300,000	7,200,000
OREO and other repossessed assets total			9,800,000	10,200,000
Foreclosed assets acquired in FDIC-assisted transactions				588,000
Foreclosed residential real estate properties			7,300,000	1,600,000
Properties for which formal foreclosure proceedings are in process			$ 3,800,000	$ 7,100,000
Anti-dilutive common stock options and warrants (in shares)			3.1	4	4.7
Reclassification due to the adoption of ASU No. 2018-02			$ 0
Noncumulative Preferred Stock
Summary Of Significant Accounting Policies [Line Items]
Stock issued (in shares)	4	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
Commercial and industrial
Summary Of Significant Accounting Policies [Line Items]
Allowance for loan losses			$ 57,232,000	$ 50,820,000	$ 48,767,000
Loans evaluated for impairment			250,000
PCI Loans
Summary Of Significant Accounting Policies [Line Items]
Allowance for loan losses			0	0
Trust preferred securities
Summary Of Significant Accounting Policies [Line Items]
Other-than-temporary impairment			0	0	$ 0
PCI Loans
Summary Of Significant Accounting Policies [Line Items]
Covered loans			38,700,000	$ 70,400,000
Accounting Standards Update 2016-16 | Forecast
Summary Of Significant Accounting Policies [Line Items]
Cumulative effect adjustment reducing retained earnings						$ 15,400,000
Retained Earnings
Summary Of Significant Accounting Policies [Line Items]
Reclassification due to the adoption of ASU No. 2018-02			$ 7,927,000

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, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Earnings Per Common Share:
Net income available to common shareholders	$ 22,926	$ 36,966	$ 48,268	$ 44,298	$ 48,293	$ 41,045	$ 37,230	$ 34,390	$ 152,458	$ 160,958	$ 99,144
Basic weighted-average number of common shares outstanding (in shares)	264,332,895	264,058,174	263,958,292	263,797,024	256,422,437	254,473,994	254,381,170	254,075,349	264,038,123	254,841,571	234,405,909
Plus: Common stock equivalents (in shares)									850,884	426,765	31,091
Diluted weighted-average number of common shares outstanding (in shares)	265,288,067	264,936,220	264,778,242	264,546,266	256,952,036	254,940,307	254,771,213	254,347,420	264,889,007	255,268,336	234,437,000
Earnings per common share:
Basic (in usd per share)	$ 0.09	$ 0.14	$ 0.18	$ 0.17	$ 0.19	$ 0.16	$ 0.15	$ 0.14	$ 0.58	$ 0.63	$ 0.42
Diluted (in usd per share)	$ 0.09	$ 0.14	$ 0.18	$ 0.17	$ 0.19	$ 0.16	$ 0.15	$ 0.14	$ 0.58	$ 0.63	$ 0.42

Business Combinations (Detail)

Business Combinations (Detail) $ in Thousands, shares in Millions	Jan. 01, 2018USD ($)office	Jan. 04, 2016USD ($)	Dec. 01, 2015USD ($)branchshares	Dec. 31, 2017USD ($)branch	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2017USD ($)officebranch	Dec. 31, 2016USD ($)branch	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Charge within income tax expense				$ 34,958	$ 17,088	$ 20,714	$ 18,071	$ 18,336	$ 17,049	$ 15,460	$ 14,389	$ 90,831	$ 65,234	$ 23,938
Florida
Business Acquisition [Line Items]
Number of branches operated | branch				31								31
Number of branches closed | branch													5
USAmeriBancorp, Inc.
Business Acquisition [Line Items]
Assets acquired				$ 4,700,000								$ 4,700,000
Loans acquired				3,800,000								3,800,000
Deposits acquired				$ 3,600,000								$ 3,600,000
Number of branches acquired | office												29
Merger expenses												$ 2,600
Masters Coverage Corp.
Business Acquisition [Line Items]
Total consideration for acquisition		$ 1,400
CNL Bancshares, Inc.
Business Acquisition [Line Items]
Assets acquired			$ 1,600,000
Loans acquired			825,000
Deposits acquired			$ 1,200,000
Conversion ratio for shares issued			0.705
Total consideration for acquisition			$ 230,000
Merger expenses														1,800
Shares issued in acquisition | shares			20.6
Charge within income tax expense														$ 3,300
CNL Bancshares, Inc. | Florida
Business Acquisition [Line Items]
Number of branches acquired | branch			16
Subsequent Event | USAmeriBancorp, Inc.
Business Acquisition [Line Items]
Conversion ratio for shares issued	6.1
Total consideration for acquisition	$ 737,000
Subsequent Event | USAmeriBancorp, Inc. | Alabama
Business Acquisition [Line Items]
Number of branches acquired | office	15

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, 2017	Dec. 31, 2016
Assets
Available for sale	$ 1,493,905	$ 1,297,373
Liabilities
Foreclosed assets	9,800	10,200
Loans held for sale (which consist of residential mortgages) carried at fair value	14,800	58,200
U.S. Treasury securities
Assets
Available for sale	49,642	49,591
U.S. government agency securities
Assets
Available for sale	42,505	23,041
Obligations of states and political subdivisions
Assets
Available for sale	112,884	119,767
Residential mortgage-backed securities
Assets
Available for sale	1,223,295	1,015,542
Trust preferred securities
Assets
Available for sale	3,214	8,009
Corporate and other debt securities
Assets
Available for sale	51,164	60,565
Equity securities
Assets
Available for sale	11,201	20,858
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring fair value measurements
Assets
Available for sale	58,807	58,961
Loans held for sale	0	0
Other assets	0	0
Total assets	58,807	58,961
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	49,642	49,591
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	7,783	8,064
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring fair value measurements | Equity securities
Assets
Available for sale	1,382	1,306
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	1,427,738	1,226,524
Loans held for sale	15,119	57,708
Other assets	26,417	29,055
Total assets	1,469,274	1,313,287
Liabilities
Other liabilities	24,330	44,077
Total liabilities	24,330	44,077
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	42,505	23,041
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Obligations of states and political subdivisions
Assets
Available for sale	112,884	119,767
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Residential mortgage-backed securities
Assets
Available for sale	1,215,935	1,005,589
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Trust preferred securities
Assets
Available for sale	3,214	6,074
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Corporate and other debt securities
Assets
Available for sale	43,381	52,501
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Equity securities
Assets
Available for sale	9,819	19,552
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	7,360	11,888
Loans held for sale	0	0
Other assets	0	0
Total assets	7,360	11,888
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	7,360	9,953
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | Trust preferred securities
Assets
Available for sale	0	1,935
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	48,373	5,385
Loan servicing rights	5,350	6,489
Foreclosed assets	3,472	4,532
Total	57,195	16,406
Fair Value | Recurring fair value measurements
Assets
Available for sale	1,493,905	1,297,373
Loans held for sale	15,119	57,708
Other assets	26,417	29,055
Total assets	1,535,441	1,384,136
Liabilities
Other liabilities	24,330	44,077
Total liabilities	24,330	44,077
Fair Value | Recurring fair value measurements | U.S. Treasury securities
Assets
Available for sale	49,642	49,591
Fair Value | Recurring fair value measurements | U.S. government agency securities
Assets
Available for sale	42,505	23,041
Fair Value | Recurring fair value measurements | Obligations of states and political subdivisions
Assets
Available for sale	112,884	119,767
Fair Value | Recurring fair value measurements | Residential mortgage-backed securities
Assets
Available for sale	1,223,295	1,015,542
Fair Value | Recurring fair value measurements | Trust preferred securities
Assets
Available for sale	3,214	8,009
Fair Value | Recurring fair value measurements | Corporate and other debt securities
Assets
Available for sale	51,164	60,565
Fair Value | Recurring fair value measurements | Equity securities
Assets
Available for sale	11,201	20,858
Fair Value | Non-recurring fair value measurements
Liabilities
Collateral dependent impaired loans	48,373	5,385
Loan servicing rights	5,350	6,489
Foreclosed assets	3,472	4,532
Total	$ 57,195	$ 16,406

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, 2017	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of the period	$ 11,888	$ 13,793	$ 19,309
Net losses included in other comprehensive income	(251)	(203)	(1,072)
Sales	(1,935)	0	(2,674)
Settlements, net	(2,342)	(1,702)	(1,770)
Balance, end of the period	$ 7,360	$ 11,888	$ 13,793

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, 2017
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	8.30%
Loss severity, weighted average of unobservable inputs	57.10%
Minimum
Fair Value Assets Measured On Recurring Basis [Line Items]
Prepayment rate, range of unobservable inputs	11.50%
Default rate, range of unobservable inputs	0.90%
Loss severity, range of unobservable inputs	45.00%
Maximum
Fair Value Assets Measured On Recurring Basis [Line Items]
Prepayment rate, range of unobservable inputs	27.30%
Default rate, range of unobservable inputs	38.90%
Loss severity, range of unobservable inputs	62.60%

Fair Value Measurement of Ass57

Fair Value Measurement of Assets and Liabilities - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)Security	Dec. 31, 2015USD ($)	Dec. 31, 2017security	Dec. 31, 2017Security
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Collateral dependent loan charge-offs	$ 2,100	$ 4,300
Collateral dependent impaired loans, recorded investment	57,500	8,400
Specific valuation allowance allocations	9,100	3,000
Reported net carrying amount of impaired loans	$ 48,400	5,400
Valuation of loan servicing rights, discount rate	8.00%
Net impairment (recovery of impairment) on loan servicing rights	$ 429	611
Foreclosed assets measured at fair value upon initial recognition	3,500	4,500
Allowance for loan losses, charge-offs	1,900	1,700
Loss due to re-measurement of repossessed assets	$ 361	$ 1,000	$ 2,000
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	22.00%
Trust preferred securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Number of available for sale securities		2		1	1
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 | 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 | 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, 2017	Dec. 31, 2016
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Interest bearing deposits with banks	$ 172,800	$ 171,710
Investment securities held to maturity	1,837,620	1,924,597
Accrued interest receivable	73,990	66,816
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Deposits with stated maturities	3,563,521	3,138,871
Carrying Amount
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	1,842,691	1,925,572
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	243,310	220,791
Interest bearing deposits with banks	172,800	171,710
Accrued interest receivable	73,990	66,816
Federal Reserve Bank and Federal Home Loan Bank stock	178,668	147,127
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Deposits without stated maturities	14,589,941	14,591,837
Short-term borrowings	748,628	1,080,960
Accrued interest payable	14,161	10,675
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	138,676	138,830
Carrying Amount | Significant Other Observable Inputs (Level 2)
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Deposits with stated maturities	3,563,521	3,138,871
Long-term borrowings	2,315,819	1,433,906
Junior subordinated debentures issued to capital trusts	41,774	41,577
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	9,859	11,329
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	465,878	566,590
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	1,131,945	1,112,460
Carrying Amount | Significant Other Observable Inputs (Level 2) | Trust preferred securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	49,824	59,804
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	46,509	36,559
Carrying Amount | Significant Unobservable Inputs (Level 3)
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Net loans	18,210,724	17,121,684
Fair Value
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	1,837,620	1,924,597
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	243,310	220,791
Interest bearing deposits with banks	172,800	171,710
Accrued interest receivable	73,990	66,816
Federal Reserve Bank and Federal Home Loan Bank stock	178,668	147,127
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Deposits without stated maturities	14,589,941	14,591,837
Short-term borrowings	679,316	1,081,751
Accrued interest payable	14,161	10,675
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	145,257	147,495
Fair Value | Significant Other Observable Inputs (Level 2)
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Deposits with stated maturities	3,465,373	3,160,572
Long-term borrowings	2,453,797	1,523,386
Junior subordinated debentures issued to capital trusts	37,289	45,785
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	9,981	11,464
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	477,479	577,826
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	1,118,044	1,102,802
Fair Value | Significant Other Observable Inputs (Level 2) | Trust preferred securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	40,088	47,290
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	46,771	37,720
Fair Value | Significant Unobservable Inputs (Level 3)
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Net loans	$ 17,562,153	$ 16,756,655

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, 2017	Dec. 31, 2016
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	$ 1,842,691	$ 1,925,572
Gross Unrealized Gains	25,419	31,592
Gross Unrealized Losses	(30,490)	(32,567)
Fair Value	1,837,620	1,924,597
U.S. Treasury securities
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	138,676	138,830
Gross Unrealized Gains	6,581	8,665
Gross Unrealized Losses	0	0
Fair Value	145,257	147,495
U.S. government agency securities
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	9,859	11,329
Gross Unrealized Gains	122	135
Gross Unrealized Losses	0	0
Fair Value	9,981	11,464
Obligations of states and state agencies
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	244,272	252,185
Gross Unrealized Gains	7,083	6,692
Gross Unrealized Losses	(1,653)	(1,428)
Fair Value	249,702	257,449
Municipal bonds
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	221,606	314,405
Gross Unrealized Gains	6,199	6,438
Gross Unrealized Losses	(28)	(466)
Fair Value	227,777	320,377
Total obligations of states and political subdivisions
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	465,878	566,590
Gross Unrealized Gains	13,282	13,130
Gross Unrealized Losses	(1,681)	(1,894)
Fair Value	477,479	577,826
Residential mortgage-backed securities
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	1,131,945	1,112,460
Gross Unrealized Gains	4,842	8,432
Gross Unrealized Losses	(18,743)	(18,090)
Fair Value	1,118,044	1,102,802
Trust preferred securities
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	49,824	59,804
Gross Unrealized Gains	60	40
Gross Unrealized Losses	(9,796)	(12,554)
Fair Value	40,088	47,290
Corporate and other debt securities
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	46,509	36,559
Gross Unrealized Gains	532	1,190
Gross Unrealized Losses	(270)	(29)
Fair Value	$ 46,771	$ 37,720

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, 2017	Dec. 31, 2016
Schedule of Held-to-Maturity Securities [Line Items]
Less than twelve months, fair value	$ 365,182	$ 820,561
Less than twelve months, unrealized losses	(2,702)	(16,343)
More than twelve months, fair value	663,238	160,403
More than twelve months, unrealized losses	(27,788)	(16,224)
Total, fair value	1,028,420	980,964
Total, unrealized losses	(30,490)	(32,567)
Obligations of states and state agencies
Schedule of Held-to-Maturity Securities [Line Items]
Less than twelve months, fair value	6,342	98,114
Less than twelve months, unrealized losses	(50)	(1,428)
More than twelve months, fair value	53,034	0
More than twelve months, unrealized losses	(1,603)	0
Total, fair value	59,376	98,114
Total, unrealized losses	(1,653)	(1,428)
Municipal bonds
Schedule of Held-to-Maturity Securities [Line Items]
Less than twelve months, fair value	4,644	27,368
Less than twelve months, unrealized losses	(25)	(466)
More than twelve months, fair value	561	0
More than twelve months, unrealized losses	(3)	0
Total, fair value	5,205	27,368
Total, unrealized losses	(28)	(466)
Total obligations of states and political subdivisions
Schedule of Held-to-Maturity Securities [Line Items]
Less than twelve months, fair value	10,986	125,482
Less than twelve months, unrealized losses	(75)	(1,894)
More than twelve months, fair value	53,595	0
More than twelve months, unrealized losses	(1,606)	0
Total, fair value	64,581	125,482
Total, unrealized losses	(1,681)	(1,894)
Residential mortgage-backed securities
Schedule of Held-to-Maturity Securities [Line Items]
Less than twelve months, fair value	344,216	692,108
Less than twelve months, unrealized losses	(2,357)	(14,420)
More than twelve months, fair value	570,969	114,505
More than twelve months, unrealized losses	(16,386)	(3,670)
Total, fair value	915,185	806,613
Total, unrealized losses	(18,743)	(18,090)
Trust preferred securities
Schedule of Held-to-Maturity 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	38,674	45,898
More than twelve months, unrealized losses	(9,796)	(12,554)
Total, fair value	38,674	45,898
Total, unrealized losses	(9,796)	(12,554)
Corporate and other debt securities
Schedule of Held-to-Maturity Securities [Line Items]
Less than twelve months, fair value	9,980	2,971
Less than twelve months, unrealized losses	(270)	(29)
More than twelve months, fair value	0	0
More than twelve months, unrealized losses	0	0
Total, fair value	9,980	2,971
Total, unrealized losses	$ (270)	$ (29)

Investment Securities - Additio

Investment Securities - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2017security	Dec. 31, 2017Security	Dec. 31, 2016USD ($)securitySecurity	Dec. 31, 2015USD ($)
Investment Securities [Line Items]
Number of security positions in the securities held to maturity portfolio in an unrealized loss position | security		152		132
Fair value of investments held to maturity pledged as collateral	$ 1,100,000,000
Weighted-average remaining expected life of residential mortgage-backed securities held to maturity, years	7 years 3 months
Number of security positions in the securities available for sale portfolio in an unrealized loss position | security		327		298
Fair value of securities available for sale pledged as collateral	$ 775,600,000
Weighted-average remaining expected life of residential mortgage-backed securities available for sale, years	8 years
Amortized cost	$ 1,511,034,000			$ 1,315,723,000
Available for sale	1,493,905,000			1,297,373,000
Single Issuer Trust Preferred Security | Non-Rated
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]
Other-than-temporary impairment	0			0	$ 0
Three Private Label Mortgage-Backed Securities
Investment Securities [Line Items]
Number of previously impaired securities (in security) | security		4
Other-than-temporarily impaired mortgage-backed securities, amortized cost	7,900,000
Other-than-temporarily impaired mortgage-backed securities, fair value	7,400,000
Trust preferred securities
Investment Securities [Line Items]
Amortized cost	3,726,000			10,164,000
Available for sale	3,214,000			$ 8,009,000
Number of available for sale securities		1	1	2
Number of previously impaired securities (in security) | security		1
Obligations of states and political subdivisions
Investment Securities [Line Items]
Amortized cost	113,187,000			$ 120,741,000
Available for sale	$ 112,884,000			$ 119,767,000
Obligations of states and political subdivisions | Other Than Temporarily Impaired Securities
Investment Securities [Line Items]
Investment carrying value percentage	49.00%
Investment carrying value	$ 578,800,000
Amortized cost	20,100,000
Available for sale	$ 20,800,000

Investment Securities - Contrac

Investment Securities - Contractual Maturities of Debt Securities Held to Maturity (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Amortized Cost
Due in one year	$ 32,026
Due after one year through five years	223,337
Due after five years through ten years	322,061
Due after ten years	133,322
Residential mortgage-backed securities	1,131,945
Amortized Cost	1,842,691	$ 1,925,572
Fair Value
Due in one year	32,320
Due after one year through five years	228,738
Due after five years through ten years	335,740
Due after ten years	122,778
Residential mortgage-backed securities	1,118,044
Total investment securities held to maturity	$ 1,837,620	$ 1,924,597

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, 2017USD ($)	Dec. 31, 2017security	Dec. 31, 2017Security	Dec. 31, 2016USD ($)Security
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 1,511,034			$ 1,315,723
Gross Unrealized Gains	5,029			4,066
Gross Unrealized Losses	(22,158)			(22,416)
Available for sale	1,493,905			1,297,373
U.S. Treasury securities
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	50,997			51,020
Gross Unrealized Gains	0			6
Gross Unrealized Losses	(1,355)			(1,435)
Available for sale	49,642			49,591
U.S. government agency securities
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	42,384			22,815
Gross Unrealized Gains	158			232
Gross Unrealized Losses	(37)			(6)
Available for sale	42,505			23,041
Obligations of states and state agencies
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	38,435			40,696
Gross Unrealized Gains	158			70
Gross Unrealized Losses	(374)			(424)
Available for sale	38,219			40,342
Municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	74,752			80,045
Gross Unrealized Gains	477			147
Gross Unrealized Losses	(564)			(767)
Available for sale	74,665			79,425
Total obligations of states and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	113,187			120,741
Gross Unrealized Gains	635			217
Gross Unrealized Losses	(938)			(1,191)
Available for sale	112,884			119,767
Residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	1,239,534			1,029,827
Gross Unrealized Gains	2,423			2,061
Gross Unrealized Losses	(18,662)			(16,346)
Available for sale	1,223,295			1,015,542
Trust preferred securities
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	3,726			10,164
Gross Unrealized Gains	0			0
Gross Unrealized Losses	(512)			(2,155)
Available for sale	3,214			$ 8,009
Number of available for sale securities		1	1	2
Corporate and other debt securities
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	50,701			$ 60,651
Gross Unrealized Gains	623			436
Gross Unrealized Losses	(160)			(522)
Available for sale	51,164			60,565
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	10,505			20,505
Gross Unrealized Gains	1,190			1,114
Gross Unrealized Losses	(494)			(761)
Available for sale	$ 11,201			$ 20,858

Investment Securities - Age o64

Investment Securities - Age of Unrealized Losses and Fair Value of Related Securities (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Less than twelve months, fair value	$ 489,894	$ 942,713
Less than twelve months, unrealized losses	(2,932)	(14,532)
More than twelve months, fair value	691,297	186,670
More than twelve months, unrealized losses	(19,226)	(7,884)
Total, fair value	1,181,191	1,129,383
Total, unrealized losses	(22,158)	(22,416)
U.S. Treasury securities
Schedule of Available-for-sale Securities [Line Items]
Less than twelve months, fair value	916	48,660
Less than twelve months, unrealized losses	(2)	(1,435)
More than twelve months, fair value	48,726	0
More than twelve months, unrealized losses	(1,353)	0
Total, fair value	49,642	48,660
Total, unrealized losses	(1,355)	(1,435)
U.S. government agency securities
Schedule of Available-for-sale Securities [Line Items]
Less than twelve months, fair value	31,177	2,530
Less than twelve months, unrealized losses	(37)	(4)
More than twelve months, fair value	0	4,034
More than twelve months, unrealized losses	0	(2)
Total, fair value	31,177	6,564
Total, unrealized losses	(37)	(6)
Obligations of states and state agencies
Schedule of Available-for-sale Securities [Line Items]
Less than twelve months, fair value	13,337	28,628
Less than twelve months, unrealized losses	(131)	(404)
More than twelve months, fair value	7,792	753
More than twelve months, unrealized losses	(243)	(20)
Total, fair value	21,129	29,381
Total, unrealized losses	(374)	(424)
Municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Less than twelve months, fair value	31,669	42,573
Less than twelve months, unrealized losses	(256)	(506)
More than twelve months, fair value	12,133	11,081
More than twelve months, unrealized losses	(308)	(261)
Total, fair value	43,802	53,654
Total, unrealized losses	(564)	(767)
Total obligations of states and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Less than twelve months, fair value	45,006	71,201
Less than twelve months, unrealized losses	(387)	(910)
More than twelve months, fair value	19,925	11,834
More than twelve months, unrealized losses	(551)	(281)
Total, fair value	64,931	83,035
Total, unrealized losses	(938)	(1,191)
Residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Less than twelve months, fair value	406,940	788,030
Less than twelve months, unrealized losses	(2,461)	(11,889)
More than twelve months, fair value	599,167	132,718
More than twelve months, unrealized losses	(16,201)	(4,457)
Total, fair value	1,006,107	920,748
Total, unrealized losses	(18,662)	(16,346)
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	3,214	8,009
More than twelve months, unrealized losses	(512)	(2,155)
Total, fair value	3,214	8,009
Total, unrealized losses	(512)	(2,155)
Corporate and other debt securities
Schedule of Available-for-sale Securities [Line Items]
Less than twelve months, fair value	5,855	32,292
Less than twelve months, unrealized losses	(45)	(294)
More than twelve months, fair value	15,115	15,192
More than twelve months, unrealized losses	(115)	(228)
Total, fair value	20,970	47,484
Total, unrealized losses	(160)	(522)
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	5,150	14,883
More than twelve months, unrealized losses	(494)	(761)
Total, fair value	5,150	14,883
Total, unrealized losses	$ (494)	$ (761)

Investment Securities - Contr65

Investment Securities - Contractual Maturities of Investments Securities Available for Sale (Detail) $ in Thousands	Dec. 31, 2017USD ($)
Amortized Cost
Due in one year	$ 10,595
Due after one year through five years	117,072
Due after five years through ten years	74,154
Due after ten years	59,174
Total investment securities available for sale	1,511,034
Fair Value
Due in one year	10,562
Due after one year through five years	115,589
Due after five years through ten years	74,588
Due after ten years	58,670
Total investment securities available for sale	1,493,905
Residential mortgage-backed securities
Amortized Cost
Securities without a single maturity date	1,239,534
Fair Value
Securities without a single maturity date	1,223,295
Equity securities
Amortized Cost
Securities without a single maturity date	10,505
Fair Value
Securities without a single maturity date	$ 11,201

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, 2017	Dec. 31, 2016	Dec. 31, 2015
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward]
Balance, beginning of period	$ 4,916	$ 5,837	$ 8,947
Accretion of credit loss impairment due to an increase in expected cash flows	(284)	(921)	(728)
Sales	(1,317)	0	(2,382)
Balance, end of period	$ 3,315	$ 4,916	$ 5,837

Investment Securities Investmen

Investment Securities Investment Securities - Realized Gains and Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Gross gains, sale transactions	$ 0	$ 271	$ 3,274
Gross losses, sale transactions	(25)	(58)	(947)
Gains on sale transactions, net	(25)	213	2,327
Gross gains, maturities and other securities transactions	43	615	293
Gross losses, maturities and other securities transactions	(38)	(51)	(133)
Gains (losses) on maturities and other securities transactions, net	5	564	160
(Losses) gains on securities transactions, net	$ (20)	$ 777	$ 2,487

Loans - Schedule of Loan Portfo

Loans - Schedule of Loan Portfolio (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 18,331,580	$ 17,236,103
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,741,425	2,638,195
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	10,347,882	9,544,613
Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	9,496,777	8,719,667
Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	851,105	824,946
Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,859,035	2,867,918
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,383,238	2,185,377
Consumer | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	446,280	469,009
Consumer | Automobile
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,208,902	1,139,227
Consumer | Other consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	728,056	577,141
Non-PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	16,944,365	15,464,601
Non-PCI Loans | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,549,065	2,357,018
Non-PCI Loans | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	9,371,815	8,338,594
Non-PCI Loans | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	8,561,851	7,628,328
Non-PCI Loans | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	809,964	710,266
Non-PCI Loans | Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,717,744	2,684,195
Non-PCI Loans | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,305,741	2,084,794
Non-PCI Loans | Consumer | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	373,631	376,213
Non-PCI Loans | Consumer | Automobile
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,208,804	1,139,082
Non-PCI Loans | Consumer | Other consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	723,306	569,499
PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,387,215	1,771,502
Covered loans	38,700	70,400
PCI Loans | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	192,360	281,177
PCI Loans | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	976,067	1,206,019
PCI Loans | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	934,926	1,091,339
PCI Loans | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	41,141	114,680
PCI Loans | Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	141,291	183,723
PCI Loans | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	77,497	100,583
PCI Loans | Consumer | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	72,649	92,796
PCI Loans | Consumer | Automobile
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	98	145
PCI Loans | Consumer | Other consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 4,750	$ 7,642

Loans - Additional Information

Loans - Additional Information (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans net of premiums and deferred loan fees	$ 22,200,000				$ 15,300,000				$ 22,200,000	$ 15,300,000
Loans	18,331,580,000				17,236,103,000				18,331,580,000	17,236,103,000
Loans transferred to loans held for sale									313,201,000	174,501,000	$ 0
Gains on sales of loans, net	$ 6,375,000	$ 5,520,000	$ 4,791,000	$ 4,128,000	12,307,000	$ 4,823,000	$ 3,105,000	$ 1,795,000	20,814,000	22,030,000	4,245,000
Sales of loans									0	0
Net increase (decrease) in expected cash flows									$ 77,265,000	(9,989,000)
Combined loan-to-value ratio home equity loan	80.00%								80.00%
Accrued interest on non-accrual loans									$ 2,500,000	2,100,000	$ 3,500,000
TDRs not reported as non-accrual loans	$ 117,200,000				85,200,000				117,200,000	85,200,000
Non-performing TDRs	27,000,000				10,600,000				27,000,000	10,600,000
Specific reserves for loan losses									8,700,000	4,800,000
Troubled debt restructuring, charge-offs									$ 0	$ 0
Number of days loans placed on non-accrual status									90 days	90 days
PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,387,215,000				1,771,502,000				$ 1,387,215,000	$ 1,771,502,000
Covered loans	38,700,000				70,400,000				38,700,000	70,400,000
PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,500,000,000				1,900,000,000				1,500,000,000	1,900,000,000
Credit card
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unsecured loans	8,200,000				7,000,000				8,200,000	7,000,000
Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,859,035,000				2,867,918,000				2,859,035,000	2,867,918,000
Loans transferred to loans held for sale									313,200,000	174,500,000
Gains on sales of loans, net									8,800,000	7,300,000
Residential mortgage | PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	141,291,000				183,723,000				141,291,000	183,723,000
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,741,425,000				2,638,195,000				2,741,425,000	2,638,195,000
Unsecured loans	401,800,000				455,500,000				401,800,000	455,500,000
Impaired loans	250,000								250,000
Commercial and industrial | PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	192,360,000				281,177,000				192,360,000	281,177,000
Commercial and industrial | Tax Medallion
Accounts, Notes, Loans and Financing Receivable [Line Items]
Taxi medallion loans	137,300,000								137,300,000
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,383,238,000				2,185,377,000				2,383,238,000	2,185,377,000
Unsecured loans	18,100,000				20,600,000				18,100,000	20,600,000
Consumer | PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 77,497,000				$ 100,583,000				$ 77,497,000	$ 100,583,000

Loans - Changes in Accretable Y

Loans - Changes in Accretable Yield for PCI Loans (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Balance, beginning of period	$ 294,514	$ 415,179
Accretion	(89,770)	(107,482)
Net increase (decrease) in expected cash flows	77,265	(9,989)
Other, net	0	(3,194)
Balance, end of period	$ 282,009	$ 294,514

Loans - Summary of Related Part

Loans - Summary of Related Party Loans (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)
Loans and Leases Receivable, Related Parties [Roll Forward]
Outstanding at beginning of year	$ 165,320
New loans and advances	7,307
Repayments	(21,362)
Outstanding at end of year	$ 151,265

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, 2017	Dec. 31, 2016
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	$ 47,225	$ 37,508
Total Past Due Loans	127,706	94,221
Current Non-PCI Loans	16,816,659	15,370,380
Total Non-PCI Loans	16,944,365	15,464,601
30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	48,900	34,878
60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	28,491	18,363
Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	3,090	3,472
Commercial and industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	20,890	8,465
Total Past Due Loans	25,084	20,322
Current Non-PCI Loans	2,523,981	2,336,696
Total Non-PCI Loans	2,549,065	2,357,018
Commercial and industrial | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	3,650	6,705
Commercial and industrial | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	544	5,010
Commercial and industrial | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	0	142
Commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	12,060	15,794
Total Past Due Loans	55,104	37,987
Current Non-PCI Loans	9,316,711	8,300,607
Total Non-PCI Loans	9,371,815	8,338,594
Commercial real estate | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	24,172	11,971
Commercial real estate | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	18,845	8,642
Commercial real estate | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	27	1,580
Commercial real estate | Commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	11,328	15,079
Total Past Due Loans	22,578	30,089
Current Non-PCI Loans	8,539,273	7,598,239
Total Non-PCI Loans	8,561,851	7,628,328
Commercial real estate | Commercial real estate | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	11,223	5,894
Commercial real estate | Commercial real estate | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	0	8,642
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	27	474
Commercial real estate | Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	732	715
Total Past Due Loans	32,526	7,898
Current Non-PCI Loans	777,438	702,368
Total Non-PCI Loans	809,964	710,266
Commercial real estate | Construction | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	12,949	6,077
Commercial real estate | Construction | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	18,845	0
Commercial real estate | Construction | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	0	1,106
Residential mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	12,405	12,075
Total Past Due Loans	35,756	29,185
Current Non-PCI Loans	2,681,988	2,655,010
Total Non-PCI Loans	2,717,744	2,684,195
Residential mortgage | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	12,669	12,005
Residential mortgage | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	7,903	3,564
Residential mortgage | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	2,779	1,541
Consumer loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	1,870	1,174
Total Past Due Loans	11,762	6,727
Current Non-PCI Loans	2,293,979	2,078,067
Total Non-PCI Loans	2,305,741	2,084,794
Consumer loans | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	8,409	4,197
Consumer loans | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	1,199	1,147
Consumer loans | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	284	209
Consumer loans | Home equity
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	1,777	1,028
Total Past Due Loans	2,880	2,372
Current Non-PCI Loans	370,751	373,841
Total Non-PCI Loans	373,631	376,213
Consumer loans | Home equity | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	1,009	929
Consumer loans | Home equity | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	94	415
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	73	146
Total Past Due Loans	7,038	4,249
Current Non-PCI Loans	1,201,766	1,134,833
Total Non-PCI Loans	1,208,804	1,139,082
Consumer loans | Automobile | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	5,707	3,192
Consumer loans | Automobile | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	987	723
Consumer loans | Automobile | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	271	188
Consumer loans | Other consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	20	0
Total Past Due Loans	1,844	106
Current Non-PCI Loans	721,462	569,393
Total Non-PCI Loans	723,306	569,499
Consumer loans | Other consumer | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	1,693	76
Consumer loans | Other consumer | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	118	9
Consumer loans | Other consumer | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	$ 13	$ 21

Loans - Impaired Loans (Detail)

Loans - Impaired Loans (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	$ 49,309	$ 36,125
Recorded Investment With Related Allowance	114,857	78,694
Total Recorded Investment	164,166	114,819
Unpaid Contractual Principal Balance	175,198	123,559
Related Allowance	14,561	10,531
Commercial and industrial
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	9,946	3,609
Recorded Investment With Related Allowance	75,553	27,031
Total Recorded Investment	85,499	30,640
Unpaid Contractual Principal Balance	90,269	35,957
Related Allowance	11,044	5,864
Commercial real estate
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	30,613	22,936
Recorded Investment With Related Allowance	30,238	39,353
Total Recorded Investment	60,851	62,289
Unpaid Contractual Principal Balance	64,680	64,264
Related Allowance	2,735	3,872
Commercial real estate | Commercial real estate
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	28,709	21,318
Recorded Investment With Related Allowance	29,771	36,974
Total Recorded Investment	58,480	58,292
Unpaid Contractual Principal Balance	62,286	60,267
Related Allowance	2,718	3,612
Commercial real estate | Construction
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	1,904	1,618
Recorded Investment With Related Allowance	467	2,379
Total Recorded Investment	2,371	3,997
Unpaid Contractual Principal Balance	2,394	3,997
Related Allowance	17	260
Residential mortgage
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	5,654	8,398
Recorded Investment With Related Allowance	8,402	9,958
Total Recorded Investment	14,056	18,356
Unpaid Contractual Principal Balance	15,332	19,712
Related Allowance	718	725
Consumer
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	3,096	1,182
Recorded Investment With Related Allowance	664	2,352
Total Recorded Investment	3,760	3,534
Unpaid Contractual Principal Balance	4,917	3,626
Related Allowance	64	70
Consumer | Home equity
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	3,096	1,182
Recorded Investment With Related Allowance	664	2,352
Total Recorded Investment	3,760	3,534
Unpaid Contractual Principal Balance	4,917	3,626
Related Allowance	$ 64	$ 70

Loans - Average Recorded Invest

Loans - Average Recorded Investment and Interest Income Recognized on Impaired Loans (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	$ 158,777	$ 125,941	$ 150,291
Interest Income Recognized	4,373	4,291	4,646
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	80,974	36,552	28,451
Interest Income Recognized	1,459	1,045	893
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	58,057	65,423	93,553
Interest Income Recognized	1,994	2,304	2,914
Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	54,799	59,633	77,154
Interest Income Recognized	1,908	2,122	2,380
Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	3,258	5,790	16,399
Interest Income Recognized	86	182	534
Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	15,451	21,340	24,435
Interest Income Recognized	760	874	728
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	4,295	2,626	3,852
Interest Income Recognized	160	68	111
Consumer | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	4,295	2,626	3,852
Interest Income Recognized	$ 160	$ 68	$ 111

Loans - Pre-Modification and Po

Loans - Pre-Modification and Post-Modification Outstanding Recorded Investments (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)contract	Dec. 31, 2016USD ($)contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	106	34
Pre-Modification Outstanding Recorded Investment	$ 102,632	$ 31,354
Post-Modification Outstanding Recorded Investment	$ 95,227	$ 28,872
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	90	19
Pre-Modification Outstanding Recorded Investment	$ 75,894	$ 18,186
Post-Modification Outstanding Recorded Investment	$ 69,020	$ 16,277
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	9	7
Pre-Modification Outstanding Recorded Investment	$ 24,969	$ 11,247
Post-Modification Outstanding Recorded Investment	$ 24,480	$ 10,718
Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	6	4
Pre-Modification Outstanding Recorded Investment	$ 23,781	$ 8,325
Post-Modification Outstanding Recorded Investment	$ 23,548	$ 7,092
Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	3	3
Pre-Modification Outstanding Recorded Investment	$ 1,188	$ 2,922
Post-Modification Outstanding Recorded Investment	$ 932	$ 3,626
Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	7	7
Pre-Modification Outstanding Recorded Investment	$ 1,769	$ 1,867
Post-Modification Outstanding Recorded Investment	$ 1,727	$ 1,826
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract		1
Pre-Modification Outstanding Recorded Investment		$ 54
Post-Modification Outstanding Recorded Investment		$ 51

Loans - Troubled Debt Restructu

Loans - Troubled Debt Restructurings Subsequently Defaulted (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)contract	Dec. 31, 2016USD ($)contract
Financing Receivable, Modifications [Line Items]
Number of Contracts | contract	13	6
Recorded Investment | $	$ 7,131	$ 1,210
Commercial and industrial
Financing Receivable, Modifications [Line Items]
Number of Contracts | contract	7	0
Recorded Investment | $	$ 5,841	$ 0
Commercial real estate
Financing Receivable, Modifications [Line Items]
Number of Contracts | contract	1	2
Recorded Investment | $	$ 165	$ 357
Residential mortgage
Financing Receivable, Modifications [Line Items]
Number of Contracts | contract	5	0
Recorded Investment | $	$ 1,125	$ 0
Consumer
Financing Receivable, Modifications [Line Items]
Number of Contracts | contract	0	4
Recorded Investment | $	$ 0	$ 853

Loans - Risk Category of Loans

Loans - Risk Category of Loans (Detail) - Non-PCI Loans - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	$ 11,920,880	$ 10,695,612
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	2,549,065	2,357,018
Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	8,561,851	7,628,328
Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	809,964	710,266
Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	11,631,645	10,440,996
Pass | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	2,375,689	2,246,457
Pass | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	8,447,865	7,486,469
Pass | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	808,091	708,070
Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	110,440	102,107
Special Mention | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	62,071	44,316
Special Mention | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	48,009	57,591
Special Mention | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	360	200
Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	164,045	150,913
Substandard | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	96,555	64,649
Substandard | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	65,977	84,268
Substandard | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	1,513	1,996
Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	14,750	1,596
Doubtful | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	14,750	1,596
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, 2017	Dec. 31, 2016
Non-PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans	$ 5,023,485	$ 4,768,989
Non-PCI Loans | Residential mortgage
Financing Receivable, Recorded Investment [Line Items]
Total Loans	2,717,744	2,684,195
Non-PCI Loans | Consumer | Home equity
Financing Receivable, Recorded Investment [Line Items]
Total Loans	373,631	376,213
Non-PCI Loans | Consumer | Automobile
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,208,804	1,139,082
Non-PCI Loans | Consumer | Other consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	723,306	569,499
Non-PCI Loans | Performing Loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans	5,009,210	4,755,740
Non-PCI Loans | Performing Loans | Residential mortgage
Financing Receivable, Recorded Investment [Line Items]
Total Loans	2,705,339	2,672,120
Non-PCI Loans | Performing Loans | Consumer | Home equity
Financing Receivable, Recorded Investment [Line Items]
Total Loans	371,854	375,185
Non-PCI Loans | Performing Loans | Consumer | Automobile
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,208,731	1,138,936
Non-PCI Loans | Performing Loans | Consumer | Other consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	723,286	569,499
Non-PCI Loans | Non-Performing Loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans	14,275	13,249
Non-PCI Loans | Non-Performing Loans | Residential mortgage
Financing Receivable, Recorded Investment [Line Items]
Total Loans	12,405	12,075
Non-PCI Loans | Non-Performing Loans | Consumer | Home equity
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,777	1,028
Non-PCI Loans | Non-Performing Loans | Consumer | Automobile
Financing Receivable, Recorded Investment [Line Items]
Total Loans	73	146
Non-PCI Loans | Non-Performing Loans | Consumer | Other consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	20	0
PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,387,215	1,771,502
PCI Loans | Residential mortgage
Financing Receivable, Recorded Investment [Line Items]
Total Loans	141,291	183,723
PCI Loans | Consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	77,497	100,583
PCI Loans | Commercial and industrial
Financing Receivable, Recorded Investment [Line Items]
Total Loans	192,360	281,177
PCI Loans | Commercial real estate | Commercial real estate
Financing Receivable, Recorded Investment [Line Items]
Total Loans	934,926	1,091,339
PCI Loans | Commercial real estate | Construction
Financing Receivable, Recorded Investment [Line Items]
Total Loans	41,141	114,680
PCI Loans | Performing Loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,349,127	1,744,491
PCI Loans | Performing Loans | Residential mortgage
Financing Receivable, Recorded Investment [Line Items]
Total Loans	135,745	179,793
PCI Loans | Performing Loans | Consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	76,901	98,469
PCI Loans | Performing Loans | Commercial and industrial
Financing Receivable, Recorded Investment [Line Items]
Total Loans	172,105	272,483
PCI Loans | Performing Loans | Commercial real estate | Commercial real estate
Financing Receivable, Recorded Investment [Line Items]
Total Loans	924,574	1,080,376
PCI Loans | Performing Loans | Commercial real estate | Construction
Financing Receivable, Recorded Investment [Line Items]
Total Loans	39,802	113,370
PCI Loans | Non-Performing Loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans	38,088	27,011
PCI Loans | Non-Performing Loans | Residential mortgage
Financing Receivable, Recorded Investment [Line Items]
Total Loans	5,546	3,930
PCI Loans | Non-Performing Loans | Consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	596	2,114
PCI Loans | Non-Performing Loans | Commercial and industrial
Financing Receivable, Recorded Investment [Line Items]
Total Loans	20,255	8,694
PCI Loans | Non-Performing Loans | Commercial real estate | Commercial real estate
Financing Receivable, Recorded Investment [Line Items]
Total Loans	10,352	10,963
PCI Loans | Non-Performing Loans | Commercial real estate | Construction
Financing Receivable, Recorded Investment [Line Items]
Total Loans	$ 1,339	$ 1,310

Allowance for Credit Losses - S

Allowance for Credit Losses - Summary of Allowance for Credit Losses (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Receivables [Abstract]
Allowance for loan losses	$ 120,856	$ 114,419	$ 106,178
Allowance for unfunded letters of credit	3,596	2,185
Total allowance for credit losses	$ 124,452	$ 116,604

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, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Receivables [Abstract]
Provision for loan losses									$ 8,531	$ 11,873	$ 7,846
Provision for unfunded letters of credit									1,411	(4)	255
Total provision for credit losses	$ 2,200	$ 1,640	$ 3,632	$ 2,470	$ 3,800	$ 5,840	$ 1,429	$ 800	$ 9,942	$ 11,869	$ 8,101

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, 2017	Dec. 31, 2016	Dec. 31, 2015
Allowance for loan losses:
Beginning balance	$ 114,419	$ 106,178
Loans charged-off	(11,074)	(10,969)
Charged-off loans recovered	8,980	7,337
Net charge-offs	(2,094)	(3,632)
Provision for loan losses		11,873
Ending balance	120,856	114,419	$ 106,178
Provision for loan losses	8,531	11,873	7,846
Commercial and Industrial
Allowance for loan losses:
Beginning balance	50,820	48,767
Loans charged-off	(5,421)	(5,990)
Charged-off loans recovered	4,736	2,852
Net charge-offs	(685)	(3,138)
Provision for loan losses		5,191
Ending balance	57,232	50,820	48,767
Provision for loan losses	7,097
Commercial Real Estate
Allowance for loan losses:
Beginning balance	55,851	48,006
Loans charged-off	(559)	(650)
Charged-off loans recovered	1,425	2,057
Net charge-offs	866	1,407
Provision for loan losses		6,438
Ending balance	54,954	55,851	48,006
Provision for loan losses	(1,763)
Residential Mortgage
Allowance for loan losses:
Beginning balance	3,702	4,625
Loans charged-off	(530)	(866)
Charged-off loans recovered	1,016	774
Net charge-offs	486	(92)
Provision for loan losses		(831)
Ending balance	3,605	3,702	4,625
Provision for loan losses	(583)
Consumer
Allowance for loan losses:
Beginning balance	4,046	4,780
Loans charged-off	(4,564)	(3,463)
Charged-off loans recovered	1,803	1,654
Net charge-offs	(2,761)	(1,809)
Provision for loan losses		1,075
Ending balance	5,065	$ 4,046	$ 4,780
Provision for loan losses	$ 3,780

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, 2017	Dec. 31, 2016	Dec. 31, 2015
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment, allowance for loan losses	$ 14,561,000	$ 10,531,000
Collectively evaluated for impairment, allowance for loan losses	106,295,000	103,888,000
Allowance for loan losses	120,856,000	114,419,000	$ 106,178,000
Individually evaluated for impairment	164,166,000	114,819,000
Collectively evaluated for impairment	16,780,199,000	15,349,782,000
Total loans	18,331,580,000	17,236,103,000
Loans acquired with discounts related to credit quality
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses	0	0
Total loans	1,387,215,000	1,771,502,000
Commercial and Industrial
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment, allowance for loan losses	11,044,000	5,864,000
Collectively evaluated for impairment, allowance for loan losses	46,188,000	44,956,000
Allowance for loan losses	57,232,000	50,820,000	48,767,000
Individually evaluated for impairment	85,499,000	30,640,000
Collectively evaluated for impairment	2,463,566,000	2,326,378,000
Total loans	2,741,425,000	2,638,195,000
Commercial and Industrial | Loans acquired with discounts related to credit quality
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans	192,360,000	281,177,000
Commercial Real Estate
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment, allowance for loan losses	2,735,000	3,872,000
Collectively evaluated for impairment, allowance for loan losses	52,219,000	51,979,000
Allowance for loan losses	54,954,000	55,851,000	48,006,000
Individually evaluated for impairment	60,851,000	62,289,000
Collectively evaluated for impairment	9,310,964,000	8,276,305,000
Total loans	10,347,882,000	9,544,613,000
Commercial Real Estate | Loans acquired with discounts related to credit quality
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans	976,067,000	1,206,019,000
Residential Mortgage
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment, allowance for loan losses	718,000	725,000
Collectively evaluated for impairment, allowance for loan losses	2,887,000	2,977,000
Allowance for loan losses	3,605,000	3,702,000	4,625,000
Individually evaluated for impairment	14,056,000	18,356,000
Collectively evaluated for impairment	2,703,688,000	2,665,839,000
Total loans	2,859,035,000	2,867,918,000
Residential Mortgage | Loans acquired with discounts related to credit quality
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans	141,291,000	183,723,000
Consumer
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment, allowance for loan losses	64,000	70,000
Collectively evaluated for impairment, allowance for loan losses	5,001,000	3,976,000
Allowance for loan losses	5,065,000	4,046,000	$ 4,780,000
Individually evaluated for impairment	3,760,000	3,534,000
Collectively evaluated for impairment	2,301,981,000	2,081,260,000
Total loans	2,383,238,000	2,185,377,000
Consumer | Loans acquired with discounts related to credit quality
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans	$ 77,497,000	$ 100,583,000

Premises and Equipment, Net (De

Premises and Equipment, Net (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 621,976	$ 601,957
Accumulated depreciation and amortization	(334,271)	(310,777)
Total premises and equipment, net	287,705	291,180
Depreciation and amortization	24,800	24,400	$ 21,100
Land
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	77,235	78,116
Buildings
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	210,335	210,012
Leasehold improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	79,217	73,405
Furniture and equipment
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 255,189	$ 240,424

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, 2017	Dec. 31, 2015
Goodwill [Line Items]
Goodwill	$ 690,637	$ 690,637	$ 686,339
Goodwill from business combinations	4,298
Wealth Management
Goodwill [Line Items]
Goodwill	21,218	21,218	20,517
Goodwill from business combinations	701
Consumer Lending
Goodwill [Line Items]
Goodwill	200,103	200,103	199,119
Goodwill from business combinations	984
Commercial Lending
Goodwill [Line Items]
Goodwill	316,258	316,258	314,260
Goodwill from business combinations	1,998
Investment Management
Goodwill [Line Items]
Goodwill	153,058	$ 153,058	$ 152,443
Goodwill from business combinations	$ 615

Goodwill and Other Intangible85

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Goodwill from business combinations		$ 4,298,000
Goodwill impairment	$ 0	0	$ 0
Impairment of core deposits and intangibles	0	0	0
Amortization expense - other intangible assets	$ 10,000,000	11,300,000	9,200,000
Core deposits
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, years	11 years
Other
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, years	20 years
Residential mortgage
Finite-Lived Intangible Assets [Line Items]
Aggregate principal balances of mortgage loans serviced	$ 2,800,000,000	2,500,000,000	$ 2,100,000,000
Wealth Management
Finite-Lived Intangible Assets [Line Items]
Goodwill from business combinations		701,000
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, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	$ 126,621	$ 138,593
Accumulated Amortization	(83,643)	(92,209)
Valuation Allowance	(471)	(900)
Net Intangible Assets	42,507	45,484
Loan servicing rights
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	79,138	73,002
Accumulated Amortization	(57,054)	(52,634)
Valuation Allowance	(471)	(900)
Net Intangible Assets	21,613	19,468
Core deposits
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	43,396	61,504
Accumulated Amortization	(24,297)	(37,562)
Valuation Allowance	0	0
Net Intangible Assets	19,099	23,942
Other
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	4,087	4,087
Accumulated Amortization	(2,292)	(2,013)
Valuation Allowance	0	0
Net Intangible Assets	$ 1,795	$ 2,074

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, 2017	Dec. 31, 2016	Dec. 31, 2015
Goodwill [Roll Forward]
Balance at beginning of year	$ 20,368	$ 16,681	$ 20,446
Origination of loan servicing rights	7,039	8,479	1,696
Amortization expense	(5,323)	(4,792)	(5,461)
Balance at end of year	22,084	20,368	16,681
Balance at beginning of year	(900)	(289)	(592)
Impairment adjustment	429	(611)	303
Balance at end of year	(471)	(900)	(289)
Balance at end of year, net of valuation allowance	$ 21,613	$ 19,468	$ 16,392

Goodwill and Other Intangible88

Goodwill and Other Intangible Assets - Estimated Future Amortization Expense (Detail) $ in Thousands	Dec. 31, 2017USD ($)
Loan servicing rights
Finite-Lived Intangible Assets [Line Items]
2,018	$ 5,180
2,019	4,160
2,020	3,331
2,021	2,554
2,022	2,039
Core deposits
Finite-Lived Intangible Assets [Line Items]
2,018	4,215
2,019	3,671
2,020	3,127
2,021	2,582
2,022	2,038
Other
Finite-Lived Intangible Assets [Line Items]
2,018	249
2,019	235
2,020	220
2,021	206
2,022	$ 191

Deposits - Additional Informati

Deposits - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Banking and Thrift [Abstract]
Time deposits, $250,000 or more	$ 647.3	$ 550.2
Interest expense on time deposits of $100 thousand or more	1.3	1.1	$ 2.3
Deposits from certain directors, executive officers and their affiliates	$ 77.7	$ 85.6

Deposits - Scheduled Maturities

Deposits - Scheduled Maturities of Time Deposits (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Banking and Thrift [Abstract]
2,018	$ 1,920,543
2,019	747,876
2,020	316,238
2,021	221,472
2,022	198,264
Thereafter	159,128
Total time deposits	$ 3,563,521	$ 3,138,871

Borrowed Funds - Schedule of Sh

Borrowed Funds - Schedule of Short-Term Borrowings (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Total short-term borrowings	$ 748,628	$ 1,080,960
Short-term borrowings
Debt Instrument [Line Items]
Securities sold under agreements to repurchase	321,628	298,960
FHLB advances	427,000	782,000
Total short-term borrowings	$ 748,628	$ 1,080,960

Borrowed Funds - Additional Inf

Borrowed Funds - Additional Information (Detail) - USD ($)	1 Months Ended			12 Months Ended
	Aug. 31, 2016	Jun. 30, 2015	Sep. 30, 2013	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Weighted average interest rate for short-term borrowings				1.05%	0.65%
Prepaid long-term FHLB advances					$ 355,000,000	$ 625,000,000
Prepaid long-term FHLB stock					$ 50,000,000	$ 220,000,000
Callable FHLB advances interest rate					3.69%	3.72%
Callable FHLB advances interest rate period					5 years
FHLB advances					$ 405,000,000
Callable FHLB advances adjusted interest rate					2.51%
Prepayment penalties paid to FHLB					$ 20,000,000
Loss on extinguishment of debt				$ 0	315,000	$ 51,129,000
Net carrying value of subordinated debentures				136,000,000	137,700,000
Fair value of securities				$ 1,800,000,000	$ 1,500,000,000
Interest rate swaps
Debt Instrument [Line Items]
Notional amount of terminated derivative	$ 125,000,000
Securities sold under agreements to repurchase
Debt Instrument [Line Items]
Weighted average interest rate for long-term borrowings				3.37%	2.41%
Subordinated notes
Debt Instrument [Line Items]
Subordinated notes		$ 100,000,000		$ 99,200,000	$ 99,000,000
Subordinated notes, interest rate		4.55%
FHLB
Debt Instrument [Line Items]
Weighted average interest rate for long-term borrowings				2.52%	3.37%
Long-term borrowings
Debt Instrument [Line Items]
Subordinated notes				$ 235,153,000	$ 236,731,000
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%
CNL Bancshares, Inc.
Debt Instrument [Line Items]
Prepaid long-term FHLB advances					$ 87,000,000

Borrowed Funds - Schedule of Lo

Borrowed Funds - Schedule of Long-Term Borrowings (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Total long-term borrowings	$ 2,315,819	$ 1,433,906
Unamortized prepayment penalties and other purchase accounting adjustments	14,300	18,300
Deferred issuance costs	1,700	1,900
Long-term borrowings
Debt Instrument [Line Items]
FHLB advances, net	1,980,666	1,031,666
Securities sold under agreements to repurchase	100,000	165,000
Subordinated debt, net	235,153	236,731
Other	0	509
Total long-term borrowings	$ 2,315,819	$ 1,433,906

Borrowed Funds - Schedule of FH

Borrowed Funds - Schedule of FHLB Repayment (Detail) - Long-term borrowings $ in Thousands	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
2,018	$ 700,000
2,019	255,000
2,021	840,000
2,022	200,000
Total long-term FHLB advances	$ 1,995,000

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, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
2,018	$ 50,000
2,022	50,000
Total long-term securities sold under agreements to repurchase	$ 100,000	$ 165,000

Junior Subordinated Debenture96

Junior Subordinated Debentures Issued to Capital Trusts - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2017
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 ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Jul. 31, 2017
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Carrying value	$ 41,774,000	$ 41,577,000
GCB Capital Trust III
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Effective interest rate			6.96%
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	$ 24,743,000	24,777,000
Contractual principal balance	24,743,000	$ 24,743,000
Junior Subordinated Debentures | 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 | State Bancorp Capital Trust I
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Carrying value	8,824,000	$ 8,724,000
Contractual principal balance	10,310,000	$ 10,310,000
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	8,207,000	$ 8,076,000
Contractual principal balance	$ 10,310,000	$ 10,310,000
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		$ 24,000,000
Trust Preferred Securities | 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%	1.40%
Trust Preferred Securities | State Bancorp Capital Trust I
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Face value		$ 10,000,000
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%	3.45%
Trust Preferred Securities | State Bancorp Capital Trust II
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Face value		$ 10,000,000
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%	2.85%

Benefit Plans - Additional Info

Benefit Plans - Additional Information (Detail) - USD ($)	Jan. 29, 2014	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		$ 628,000
Salary expense		10,800,000	$ 10,500,000	$ 9,000,000
Expense for contributions to savings and investment plan		$ 7,100,000	6,700,000	$ 7,100,000
Maximum annual contributions based on employee's salary		5.00%		6.00%
Maximum annual contributions per employee		$ 13,500
Shares of common stock were available for issuance (in shares)		7,300,000
Stock-based compensation expense		$ 12,204,000	10,032,000	$ 7,575,000
Unrecognized stock-based compensation		$ 11,600,000
Average remaining vesting, years		2 years
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		$ 12,200,000	10,000,000	8,800,000
Stock awards granted		$ 4,300,000	$ 3,500,000	$ 2,600,000
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)		$ 11.05	$ 8.32	$ 8.98
Restricted Stock
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Granted (in shares)		608,786	544,307	886,427
Vested (in shares)		736,575	1,050,293	559,958
Performance Based Restricted Stock
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Granted (in shares)					240,000
Vested (in shares)		85,000	53,000	50,000
Performance Shares
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Award vesting period		3 years
Granted (in shares)		371,000	431,000	313,000
Compensation costs related to restricted stock awards		$ 3,800,000	$ 2,800,000	$ 2,300,000
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)		$ 11.70
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		1 year
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		3 years
Funded plans for former directors
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Projected benefit obligation		$ 682,000	$ 1,100,000
Non-employee directors | RSUs
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Granted (in shares)		45,000
Grant date fair value of awards		$ 50,000
Equity securities
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Cumulative annual real return		7.00%
Equity securities | Minimum
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Target asset allocation percentage		25.00%
Equity securities | Maximum
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Target asset allocation percentage		65.00%
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 | Minimum
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Target asset allocation percentage		35.00%
Debt securities | Maximum
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Target asset allocation percentage		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		3.69%	4.12%
Nonqualified Plan | Other Pension Plan, Defined Benefit | Non-qualified plans for former directors
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Projected benefit obligation		$ 2,100,000	$ 2,700,000
Nonqualified Plan | Other Pension Plan, Defined Benefit | Funded plans for former directors
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Obligation included in other comprehensive loss, net of tax		818,000	951,000
Obligation included in other comprehensive loss, tax		$ 577,000	$ 674,000

Benefit Plans - Change in Proje

Benefit Plans - Change in Projected Benefit Obligation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Accrued interest receivable	$ 993	$ 606
Pension Plan
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	161,306	157,661
Interest cost	5,713	6,681	$ 6,889
Actuarial loss	10,148	2,047
Benefits paid	(6,601)	(5,546)
Projected benefit obligation at end of year	170,566	161,306	157,661
Change in fair value of plan assets:
Fair value of plan assets at beginning of year	206,639	189,414
Actual return on plan assets	21,468	22,424
Employer contributions	618	347
Benefits paid	(6,601)	(5,546)
Fair value of plan assets at end of year	222,124	206,639	$ 189,414
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Asset recognized	51,558	45,333
Accumulated benefit obligation	$ 170,566	$ 161,306

Benefit Plans - Component of Ne

Benefit Plans - Component of Net Periodic Pension Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	$ 33,602	$ 30,140
Deferred tax benefit	(14,044)	(12,647)
Total	$ 19,558	$ 17,493

Benefit Plans - Projected Benef

Benefit Plans - Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets for Non-Qualified Plans (Detail) - Pension Plan - Nonqualified Plan - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 20,175	$ 18,286
Accumulated benefit obligation	20,175	18,286
Fair value of plan assets	$ 0	$ 0

Benefit Plans - Components of N

Benefit Plans - Components of Net Periodic Pension Income for Qualified and Non-Qualified Plans (Detail) - Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 5,713	$ 6,681	$ 6,889
Expected return on plan assets	(15,163)	(14,539)	(14,023)
Amortization of net loss	381	294	790
Total net periodic pension income	$ (9,069)	$ (7,564)	$ (6,344)

Benefit Plans - Qualified and N

Benefit Plans - Qualified and Non-Qualified Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income or Loss (Detail) - Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Net loss (gain)	$ 3,843	$ (5,837)
Prior service cost	0	462
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax	(35)	0
Amortization of actuarial loss	(381)	(294)
Total recognized in other comprehensive income	3,427	(5,669)
Total recognized in net periodic pension income and other comprehensive income/loss (before tax)	$ (5,607)	$ (13,233)

Benefit Plans - Schedule of Exp

Benefit Plans - Schedule of Expected Future Benefit Payments (Detail) - Pension Plan $ in Thousands	Dec. 31, 2017USD ($)
Defined Benefit Plan Disclosure [Line Items]
2,018	$ 7,472
2,019	7,957
2,020	8,267
2,021	8,602
2,022	8,781
Thereafter	$ 47,032

Benefit Plans - Weighted Averag

Benefit Plans - Weighted Average Discount Rate (Detail) - Pension Plan	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.12%	4.33%	4.02%
Expected long-term return on plan assets	7.50%	7.50%	7.50%

Benefit Plans - Fair Value Meas

Benefit Plans - Fair Value Measurement (Detail) - Pension Plan - Qualified Plan - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Investments:
Percent of total investments	100.15797%	100.00%
Investments	$ 221,131	$ 206,033
Equity securities
Investments:
Percent of total investments	38.00%	43.00%
Investments	$ 84,791	$ 88,250
Corporate bonds
Investments:
Percent of total investments	22.00%	21.00%
Investments	$ 47,471	$ 43,152
Mutual funds
Investments:
Percent of total investments	23.00%	19.00%
Investments	$ 48,814	$ 38,975
U.S. Treasury securities
Investments:
Percent of total investments	13.00%	12.00%
Investments	$ 28,671	$ 24,910
Cash and money market funds
Investments:
Percent of total investments	4.00%	5.00%
Investments	$ 9,522	$ 10,402
U.S. government agency securities
Investments:
Investments	1,862	344
Quoted Prices in Active Markets for Identical Assets (Level 1)
Investments:
Investments	171,798	162,537
Quoted Prices in Active Markets for Identical Assets (Level 1) | Equity securities
Investments:
Investments	84,791	88,250
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	48,814	38,975
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Treasury securities
Investments:
Investments	28,671	24,910
Quoted Prices in Active Markets for Identical Assets (Level 1) | Cash and money market funds
Investments:
Investments	9,522	10,402
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	49,333	43,496
Significant Other Observable Inputs (Level 2) | Equity securities
Investments:
Investments	0	0
Significant Other Observable Inputs (Level 2) | Corporate bonds
Investments:
Investments	47,471	43,152
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	1,862	344
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, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at beginning of year (in shares)	2,100,816	2,755,138	2,574,616
Granted (in shares)	608,786	544,307	886,427
Vested (in shares)	(736,575)	(1,050,293)	(559,958)
Forfeited (in shares)	(201,325)	(148,336)	(145,947)
Outstanding at end of year (in shares)	1,771,702	2,100,816	2,755,138

Benefit Plans - Stock Options A

Benefit Plans - Stock Options Activity (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Shares
Shares outstanding at beginning of year (in shares)	732,489	1,383,365	1,828,591
Shares granted (in shares)	0	0	100,000
Shares forfeited or expired (in shares)	(285,509)	(650,876)	(545,226)
Shares outstanding at end of year (in shares)	446,980	732,489	1,383,365
Shares exercisable at year-end (in shares)	446,980	632,489	1,283,365
Weighted Average Exercise Price
Weighted average exercise price, outstanding at beginning of year (in usd per share)	$ 14	$ 16	$ 17
Weighted average exercise price, granted (in usd per share)	0	0	11
Weighted average exercise price, forfeited or expired (in usd per share)	16	18	18
Weighted average exercise price, outstanding at end of year (in usd per share)	13	14	16
Weighted average exercise price, exercisable at year-end (in usd per share)	$ 13	$ 14	$ 16

Benefit Plans - Stock Options O

Benefit Plans - Stock Options Outstanding (Detail)	12 Months Ended
	Dec. 31, 2017$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding (in shares) | shares	446,980
Weighted Average Remaining Contractual Life in Years	1 year 7 months 28 days
Weighted average exercise price (in usd per share)	$ 13
$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	227,100
Weighted Average Remaining Contractual Life in Years	2 years 10 months 13 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	217,963
Weighted Average Remaining Contractual Life in Years	4 months 24 days
Weighted average exercise price (in usd per share)	$ 14
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	1,917
Weighted Average Remaining Contractual Life in Years	4 months 13 days
Weighted average exercise price (in usd per share)	$ 16

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, 2017	Dec. 31, 2016	Dec. 31, 2015
Changes in Director's Restricted Stock Awards
Outstanding at beginning of year (in shares)	55,510	80,117	98,086
Vested (in shares)	(37,625)	(24,607)	(17,969)
Outstanding at end of year (in shares)	17,885	55,510	80,117

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Taxes [Line Items]
Deferred tax assets classified as other, tax credit carryforwards	$ 6.1
Statutory federal income tax rate	35.00%	35.00%	35.00%
Decrease in liability for unrecognized tax benefits within the next twelve months	$ 4.2
Uncertain tax position, accrued interest	1.8	$ 4.6
Federal
Income Taxes [Line Items]
Operating loss carryforwards	71.6
Obligations of states and state agencies
Income Taxes [Line Items]
Operating loss carryforwards	405
Tax credit carryforward	$ 2.9

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Expense (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Estimated impact of the Tax Act									$ 15,441	$ 0	$ 0
Current expense (benefit):
Federal									8,483	25,176	7,978
State									5,500	12,904	(493)
Total current expense									13,983	38,080	7,485
Deferred expense (benefit):
Federal									49,169	10,658	(7,539)
State									27,679	16,496	23,992
Total deferred expense									76,848	27,154	16,453
Income tax expense	$ 34,958	$ 17,088	$ 20,714	$ 18,071	$ 18,336	$ 17,049	$ 15,460	$ 14,389	$ 90,831	$ 65,234	$ 23,938

Income Taxes - Summary of Defer

Income Taxes - Summary of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets:
Allowance for loan losses	$ 34,885	$ 47,485
Depreciation	8,336	12,432
Employee benefits	10,596	16,121
Investment securities, including other-than-temporary impairment losses	5,021	17,272
Net operating loss carryforwards	30,658	46,667
Purchase accounting	18,819	33,172
Other	21,930	22,183
Total deferred tax assets	130,245	195,332
Deferred tax liabilities:
Pension plans	18,912	24,575
Other investments	13,234	20,831
Deferred income	37,952	0
Other	12,651	20,418
Total deferred tax liabilities	82,749	65,824
Net deferred tax asset (included in other assets)	$ 47,496	$ 129,508

Income Taxes - Summary of In114

Income Taxes - Summary of Income Tax Reconciliation (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Federal income tax at expected statutory rate									$ 88,458	$ 81,683	$ 44,413
State income tax expense, net of federal tax effect									21,046	19,197	15,274
Tax-exempt interest, net of interest incurred to carry tax-exempt securities									(5,245)	(5,308)	(4,864)
Bank owned life insurance									(2,568)	(2,343)	(2,385)
Tax credits from securities and other investments									(27,037)	(25,954)	(28,988)
Impact of the Tax Act									15,441	0	0
Other, net									736	(2,041)	488
Income tax expense	$ 34,958	$ 17,088	$ 20,714	$ 18,071	$ 18,336	$ 17,049	$ 15,460	$ 14,389	$ 90,831	$ 65,234	$ 23,938

Income Taxes - Summary of Recon

Income Taxes - Summary of Reconciliation of Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Reconciliation of Gross Unrecognized Tax Benefits
Beginning balance	$ 16,144	$ 19,892	$ 18,647
Additions based on tax positions related to prior years	1,121	3,958	1,245
Settlements with taxing authorities	(13,027)	(4,820)	0
Reductions due to expiration of statute of limitations	0	(2,886)	0
Ending balance	$ 4,238	$ 16,144	$ 19,892

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, 2017	Dec. 31, 2016
Other Assets
Other Assets:
Affordable housing tax credit investments, net	$ 22,135	$ 29,567
Other tax credit investments, net	42,015	44,763
Total tax credit investments, net	64,150	74,330
Other Liabilities
Other Liabilities:
Unfunded affordable housing tax credit commitments	3,690	4,850
Unfunded other tax credit commitments	15,020	7,276
Total unfunded tax credit commitments	$ 18,710	$ 12,126

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	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Components of Income Tax Expense
Affordable housing tax credits and other tax benefits		$ 7,383	$ 5,013	$ 4,709
Other tax credit investment credits and tax benefits		35,530	33,294	23,877
Total reduction in income tax expense		42,913	38,307	28,586
Amortization Recorded in Non-Interest Expenses
Amortization of Tax Credit Investments
Affordable housing tax credit investment losses		2,748	2,077	2,594
Affordable housing tax credit investment impairment losses	$ 2,200	4,684	450	1,321
Other tax credit investment losses		2,866	790	1,079
Other tax credit investment impairment losses	$ 2,100	31,449	31,427	22,318
Total amortization of tax credit investments recorded in non-interest expense		$ 41,747	$ 34,744	$ 27,312

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	Dec. 14, 2017claim	Apr. 30, 2017claim	Mar. 31, 2015claim	Dec. 31, 2013claim	Mar. 31, 2012USD ($)principal	Dec. 31, 2017USD ($)contractswapclaim	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Feb. 28, 2015claim
Commitments And Contingencies [Line Items]
Net rental expense						$ 27,700,000	$ 27,700,000	$ 31,700,000
Net of rental income						3,900,000	4,000,000	$ 3,800,000
Deposits						18,153,462,000	17,730,708,000
Aggregate fair value of net liability position						9,200,000
Collateral posted						41,900,000
Derivatives designated as hedging instruments
Commitments And Contingencies [Line Items]
Notional amount of interest rate derivatives						614,775,000	714,999,000
Derivatives designated as hedging instruments | Other Liabilities
Commitments And Contingencies [Line Items]
Variation margins						9,500,000
Derivatives not designated as hedging instruments:
Commitments And Contingencies [Line Items]
Notional amount of interest rate derivatives						1,800,238,000	1,322,305,000
Derivatives not designated as hedging instruments: | Other Liabilities
Commitments And Contingencies [Line Items]
Variation margins						951,000
Interest rate swaps
Commitments And Contingencies [Line Items]
Accumulated net after-tax losses related to effective cash flow hedges						8,300,000	12,500,000
Estimated amount of interest rate derivatives to be reclassified to interest expense						4,800,000
Interest rate swaps | Derivatives not designated as hedging instruments:
Commitments And Contingencies [Line Items]
Notional amount of interest rate derivatives						$ 1,687,005,000	1,075,722,000
Number of derivative instruments | swap						7
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]
Number of derivative contracts held (in contract) | contract						1
Notional amount of interest rate derivatives						$ 7,775,000	$ 7,999,000
Fair value hedge | Interest rate swaps | Derivatives not designated as hedging instruments:
Commitments And Contingencies [Line Items]
Notional amount of interest rate derivatives						$ 14,500,000
Number of derivative instruments | swap						1
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]
Number of principals charged with criminal fraud | principal					3
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 filed (in claim) | claim			5	10		11
Claims dismissed (in claim) | claim			4			5			5
Claims granted summary judgment | claim		4
Claims not dismissed | claim	2	6
Risk Participation | Interest rate swaps | Derivatives not designated as hedging instruments:
Commitments And Contingencies [Line Items]
Notional amount of interest rate derivatives						$ 40,600,000

Commitments and Contingencie119

Commitments and Contingencies - Minimum Aggregate Lease Payments (Detail) $ in Thousands	Dec. 31, 2017USD ($)
Leases [Abstract]
Gross Rents, 2017	$ 26,535
Gross Rents, 2018	26,043
Gross Rents, 2019	26,150
Gross Rents, 2020	25,413
Gross Rents, 2021	24,559
Gross Rents, Thereafter	257,986
Gross Rents, Total lease commitments	386,686
Sublease Rents, 2017	2,259
Sublease Rents, 2018	2,123
Sublease Rents, 2019	2,077
Sublease Rents, 2020	2,009
Sublease Rents, 2021	1,891
Sublease Rents, Thereafter	8,130
Sublease Rents, Total lease commitments	18,489
Net Rents, 2017	24,276
Net Rents, 2018	23,920
Net Rents, 2019	24,073
Net Rents, 2020	23,404
Net Rents, 2021	22,668
Net Rents, Thereafter	249,856
Net Rents, Total lease commitments	$ 368,197

Commitments and Contingencie120

Commitments and Contingencies - Summary of Financial Instruments with Off-Balance Sheet Risk (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Commitments to sell loans	$ 57,405	$ 147,250
Standby letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments with off-balance sheet risk	250,536	217,695
Commercial letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Commercial letters of credit	2,115	4,960
Commercial loans | Commitments to extend credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments with off-balance sheet risk	3,401,653	3,416,255
Home equity | Unused lines of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments with off-balance sheet risk	1,006,329	904,999
Residential mortgage | Loan origination commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments with off-balance sheet risk	192,685	108,063
Credit card | Unused lines of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments with off-balance sheet risk	$ 54,906	$ 49,715

Commitments and Contingencie121

Commitments and Contingencies - Consolidated Statements of Financial Condition Related to Fair Value of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Interest rate caps and swaps
Derivative [Line Items]
Other Assets	$ 0	$ 0
Other Liabilities	24,212	41,911
Derivatives designated as hedging instruments:
Derivative [Line Items]
Notional Amount	614,775	714,999
Derivatives not designated as hedging instruments:
Derivative [Line Items]
Notional Amount	1,800,238	1,322,305
Derivatives not designated as hedging instruments: | Interest rate swaps
Derivative [Line Items]
Notional Amount	1,687,005	1,075,722
Derivatives not designated as hedging instruments: | Mortgage banking derivatives
Derivative [Line Items]
Notional Amount	113,233	246,583
Other Assets | Derivatives designated as hedging instruments:
Derivative [Line Items]
Other Assets	650	802
Other Assets | Derivatives not designated as hedging instruments:
Derivative [Line Items]
Other Assets	25,767	28,253
Other Assets | Derivatives not designated as hedging instruments: | Interest rate swaps
Derivative [Line Items]
Other Assets	25,696	25,285
Other Assets | Derivatives not designated as hedging instruments: | Mortgage banking derivatives
Derivative [Line Items]
Other Assets	71	2,968
Other Liabilities | Derivatives designated as hedging instruments:
Derivative [Line Items]
Other Liabilities	718	16,627
Other Liabilities | Derivatives not designated as hedging instruments:
Derivative [Line Items]
Other Liabilities	23,612	27,450
Other Liabilities | Derivatives not designated as hedging instruments: | Interest rate swaps
Derivative [Line Items]
Other Liabilities	23,494	25,284
Other Liabilities | Derivatives not designated as hedging instruments: | Mortgage banking derivatives
Derivative [Line Items]
Other Liabilities	118	2,166
Fair value hedge | Derivatives designated as hedging instruments: | Interest rate swaps
Derivative [Line Items]
Notional Amount	7,775	7,999
Fair value hedge | Derivatives not designated as hedging instruments: | Interest rate swaps
Derivative [Line Items]
Notional Amount	14,500
Fair value hedge | Other Assets | Derivatives designated as hedging instruments: | Interest rate swaps
Derivative [Line Items]
Other Assets	0	0
Fair value hedge | Other Liabilities | Derivatives designated as hedging instruments: | Interest rate swaps
Derivative [Line Items]
Other Liabilities	637	986
Cash flow hedge | Derivatives designated as hedging instruments: | Interest rate caps and swaps
Derivative [Line Items]
Notional Amount	607,000	707,000
Cash flow hedge | Other Assets | Derivatives designated as hedging instruments: | Interest rate caps and swaps
Derivative [Line Items]
Other Assets	650	802
Cash flow hedge | Other Liabilities | Derivatives designated as hedging instruments: | Interest rate caps and swaps
Derivative [Line Items]
Other Liabilities	$ 81	$ 15,641

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, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
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	$ (48,537)	$ (46,796)	$ (42,187)	$ (36,587)	$ (36,700)	$ (37,057)	$ (37,573)	$ (37,444)	$ (174,107)	$ (148,774)	$ (156,754)
Amount of gain (loss) recognized in other comprehensive income									1,005	(4,035)	(12,360)
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									$ (8,579)	$ (13,034)	$ (7,075)

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, 2017	Dec. 31, 2016	Dec. 31, 2015
Gain Loss On Fair Value Hedges Recognized In Earnings [Line Items]
Gains (losses) included in the consolidated statements of income	$ (744)	$ 690	$ 158
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	348	320	176
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	0	6,670	1,400
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	(348)	(320)	(176)
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	$ 0	$ (6,645)	$ (1,473)

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, 2017	Dec. 31, 2016	Dec. 31, 2015
Non-designated hedge interest rate derivatives
Other non-interest expense	$ (744)	$ 690	$ 158

Balance Sheet Offsetting - Summ

Balance Sheet Offsetting - Summary of Valley's Financial Instruments that are Eligible for Offset (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Offsetting Liabilities
Gross Amounts Recognized	$ 224,212	$ 206,911
Gross Amounts Offset	0	0
Net Amounts Presented	224,212	206,911
Gross Amounts Not Offset, Financial Instruments	(5,376)	(5,268)
Gross Amounts Not Offset, Cash Collateral	(208,141)	(201,643)
Net Amount	10,695	0
Collateral posted	51,400	52,400
Repurchase agreements
Offsetting Liabilities
Gross Amounts Recognized	200,000	165,000
Gross Amounts Offset	0	0
Total long-term securities sold under agreements to repurchase	200,000	165,000
Gross Amounts Not Offset, Financial Instruments	0	0
Gross Amounts Not Offset, Cash Collateral	(200,000)	(165,000)
Net Amount	0	0
Interest rate caps and swaps
Offsetting Assets
Gross Amounts Recognized	26,346	26,087
Gross Amounts Offset	0	0
Net Amounts Presented	26,346	26,087
Gross Amounts Not Offset, Financial Instruments	(5,376)	(5,268)
Gross Amounts Not Offset, Cash Collateral	0	0
Net Amount	20,970	20,819
Offsetting Liabilities
Gross Amounts Recognized	24,212	41,911
Gross Amounts Offset	0	0
Net Amounts Presented	24,212	41,911
Gross Amounts Not Offset, Financial Instruments	(5,376)	(5,268)
Gross Amounts Not Offset, Cash Collateral	(8,141)	(36,643)
Net Amount	$ 10,695	$ 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, 2017	Dec. 31, 2016
Total Risk-based Capital
Risk-based capital actual, amount	$ 2,258,044	$ 2,084,531
Risk-based capital actual, ratio	12.61%	12.15%
Risk-based capital minimum capital requirements, amount	$ 1,656,575	$ 1,480,006
Risk-based capital minimum capital requirements, ratio	9.25%	8.625%
Common Equity Tier 1 Capital
Common equity tier 1 capital, amount	$ 1,651,849	$ 1,590,825
Common equity tier 1 capital, ratio	9.22%	9.27%
Common equity tier 1 capital	$ 1,029,763	$ 879,424
Common equity tier 1 capital minimum capital requirements, ratio	5.75%	5.125%
Tier 1 Risk-based Capital
Tier 1 risk-based capital actual, amount	$ 1,864,279	$ 1,698,767
Tier 1 risk-based capital actual, ratio	10.41%	9.90%
Tier 1 risk-based capital minimum capital requirements, amount	$ 1,298,397	$ 1,136,816
Tier 1 risk-based capital minimum capital requirements, ratio	7.25%	6.625%
Tier 1 Leverage Capital
Tier 1 leverage capital actual, amount	$ 1,864,279	$ 1,698,767
Tier 1 leverage capital actual, ratio	8.03%	7.74%
Tier 1 leverage capital minimum capital requirements, amount	$ 928,484	$ 878,244
Tier 1 leverage capital minimum capital requirements, ratio	4.00%	4.00%
Valley National Bank
Total Risk-based Capital
Risk-based capital actual, amount	$ 2,185,967	$ 2,023,857
Risk-based capital actual, ratio	12.23%	11.82%
Risk-based capital minimum capital requirements, amount	$ 1,653,088	$ 1,476,767
Risk-based capital minimum capital requirements, ratio	9.25%	8.625%
Risk-based capital to be well capitalized under prompt corrective action provision, amount	$ 1,787,122	$ 1,712,193
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	$ 1,961,316	$ 1,807,201
Common equity tier 1 capital, ratio	10.97%	10.55%
Common equity tier 1 capital	$ 1,027,595	$ 877,499
Common equity tier 1 capital minimum capital requirements, ratio	5.75%	5.125%
Common equity tier 1 capital to be well capitalized under prompt corrective action provision, amount	$ 1,161,629	$ 1,112,926
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	$ 1,961,316	$ 1,807,201
Tier 1 risk-based capital actual, ratio	10.97%	10.55%
Tier 1 risk-based capital minimum capital requirements, amount	$ 1,295,663	$ 1,134,328
Tier 1 risk-based capital minimum capital requirements, ratio	7.25%	6.625%
Tier 1 risk-based capital to be well capitalized under prompt corrective action provision, amount	$ 1,429,698	$ 1,369,755
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	$ 1,961,316	$ 1,807,201
Tier 1 leverage capital actual, ratio	8.47%	8.25%
Tier 1 leverage capital minimum capital requirements, amount	$ 926,459	$ 876,026
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	$ 1,158,074	$ 1,095,032
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 ($)

Aug. 03, 2017

Jun. 19, 2015

Jan. 01, 2012

Jun. 29, 2009

Dec. 31, 2016

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2010

Jun. 30, 2025

Sep. 30, 2022

Dec. 31, 2008

Dec. 31, 2007

Common Stock [Line Items]

Net proceeds from issuance of common stock

$ 106,400,000

$ 8,207,000

$ 112,085,000

$ 7,898,000

Shares of common stock authorized (in shares)

450,000,000

450,000,000

450,000,000

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)

713,000

554,000

713,000

Proceeds from treasury stock reissued

$ 8,200,000

$ 5,200,000

$ 7,000,000

Parent Company

Common Stock [Line Items]

Net proceeds from issuance of common stock

$ 8,207,000

$ 112,085,000

$ 7,898,000

Parent Company | Repurchase Plan

Common Stock [Line Items]

Amount authorized under share repurchase program

$ 4,700,000

Number of shares repurchased (in shares)

0

0

0

Parent Company | Other Stock Repurchases

Common Stock [Line Items]

Number of shares repurchased (in shares)

218,000

328,000

387,000

Average price of shares purchased (in usd per share)

$ 12.12

$ 9.73

$ 9.95

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 (in shares)

1.1030

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

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%

Series B Preferred Stock

Common Stock [Line Items]

Stock issued (in shares)

4,000,000

Liquidation preference per share (in usd per share)

$ 25

Fixed dividend rate per annum

550.00%

Proceeds from issuance of preferred stock, net of issuance costs

$ 98,100,000

Series B Preferred Stock | LIBOR | Forecast

Common Stock [Line Items]

Spread on variable dividend rate per annum

357.80%

Other Comprehensive Income - Sc

Other Comprehensive Income - Schedule of Comprehensive Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Before reclassification, net of tax	$ (1,296)	$ (3,039)	$ (6,036)
Reclassification, net of tax	5,311	6,641	2,836
Net change before tax	7,611	6,557	(5,348)
Net change, tax	(3,596)	(2,955)	2,148
Other comprehensive income (loss), net	4,015	3,602	(3,200)
Unrealized Gains and Losses on AFS Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Before reclassification, before tax	636	(7,294)	(3,458)
Before reclassification, tax	(284)	3,001	1,458
Before reclassification, net of tax	352	(4,293)	(2,000)
Reclassification adjustment before tax	20	(777)	(2,487)
Reclassification, tax	(9)	312	1,041
Reclassification, net of tax	11	(465)	(1,446)
Net change before tax	656	(8,071)	(5,945)
Net change, tax	(293)	3,313	2,499
Other comprehensive income (loss), net	363	(4,758)	(3,446)
Non-credit Impairment Losses on Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Before reclassification, before tax	849	719	(416)
Before reclassification, tax	(351)	(302)	175
Before reclassification, net of tax	498	417	(241)
Reclassification adjustment before tax	(284)	(921)	(728)
Reclassification, tax	117	382	304
Reclassification, net of tax	(167)	(539)	(424)
Net change before tax	565	(202)	(1,144)
Net change, tax	(234)	80	479
Other comprehensive income (loss), net	331	(122)	(665)
Unrealized Gains and Losses on Derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Before reclassification, before tax	1,005	(4,035)	(12,360)
Before reclassification, tax	(429)	1,574	5,121
Before reclassification, net of tax	576	(2,461)	(7,239)
Reclassification adjustment before tax	8,579	13,034	7,075
Reclassification, tax	(3,551)	(5,393)	(2,948)
Reclassification, net of tax	5,028	7,641	4,127
Net change before tax	9,584	8,999	(5,285)
Net change, tax	(3,980)	(3,819)	2,173
Other comprehensive income (loss), net	5,604	5,180	(3,112)
Net (losses) gains arising during the period
Accumulated Other Comprehensive Income (Loss) [Line Items]
Before reclassification, before tax	3,843	(5,837)	(6,030)
Before reclassification, tax	(1,121)	2,539	2,586
Before reclassification, net of tax	2,722	(3,298)	(3,444)
Amortization of prior service credit (cost )
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification adjustment before tax	(268)	300	(206)
Reclassification, tax	77	(119)	89
Reclassification, net of tax	(191)	181	(117)
Amortization of net loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification adjustment before tax	381	294	790
Reclassification, tax	(133)	(109)	(328)
Reclassification, net of tax	248	185	462
Defined Benefit Pension Plan
Accumulated Other Comprehensive Income (Loss) [Line Items]
Before reclassification, net of tax	(2,722)	3,298	3,444
Reclassification, net of tax	439	4	579
Net change before tax	(3,194)	5,831	7,026
Net change, tax	911	(2,529)	(3,003)
Other comprehensive income (loss), net	$ (2,283)	$ 3,302	$ 4,023

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, 2017	Dec. 31, 2016	Dec. 31, 2015
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 2,377,156	$ 2,207,091	$ 1,863,017
Other comprehensive income (loss) before reclassifications	(1,296)	(3,039)	(6,036)
Amounts reclassified from other comprehensive income (loss)	5,311	6,641	2,836
Other comprehensive income (loss), net	4,015	3,602	(3,200)
Ending balance	2,533,165	2,377,156	2,207,091
Unrealized Gains and Losses on AFS Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(10,094)	(5,336)	(1,890)
Other comprehensive income (loss) before reclassifications	352	(4,293)	(2,000)
Amounts reclassified from other comprehensive income (loss)	11	(465)	(1,446)
Other comprehensive income (loss), net	363	(4,758)	(3,446)
Ending balance	(12,004)	(10,094)	(5,336)
Non-credit Impairment Losses on Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(642)	(520)	145
Other comprehensive income (loss) before reclassifications	498	417	(241)
Amounts reclassified from other comprehensive income (loss)	(167)	(539)	(424)
Other comprehensive income (loss), net	331	(122)	(665)
Ending balance	(380)	(642)	(520)
Unrealized Gains and Losses on Derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(12,464)	(17,644)	(14,532)
Other comprehensive income (loss) before reclassifications	576	(2,461)	(7,239)
Amounts reclassified from other comprehensive income (loss)	5,028	7,641	4,127
Other comprehensive income (loss), net	5,604	5,180	(3,112)
Ending balance	(8,338)	(12,464)	(17,644)
Defined Benefit Pension Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(18,893)	(22,195)	(26,218)
Other comprehensive income (loss) before reclassifications	(2,722)	3,298	3,444
Amounts reclassified from other comprehensive income (loss)	439	4	579
Other comprehensive income (loss), net	(2,283)	3,302	4,023
Ending balance	(25,283)	(18,893)	(22,195)
Total Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(42,093)	(45,695)	(42,495)
Ending balance	$ (46,005)	(42,093)	$ (45,695)
Adjustments for New Accounting Pronouncement | Unrealized Gains and Losses on AFS Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification due to the adoption of ASU No. 2018-02		(2,273)
Adjustments for New Accounting Pronouncement | Non-credit Impairment Losses on Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification due to the adoption of ASU No. 2018-02		(69)
Adjustments for New Accounting Pronouncement | Unrealized Gains and Losses on Derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification due to the adoption of ASU No. 2018-02		(1,478)
Adjustments for New Accounting Pronouncement | Defined Benefit Pension Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification due to the adoption of ASU No. 2018-02		(4,107)
Adjustments for New Accounting Pronouncement | Total Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification due to the adoption of ASU No. 2018-02		$ (7,927)

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, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Interest income	$ 220,506	$ 211,650	$ 211,147	$ 199,116	$ 201,095	$ 191,203	$ 189,028	$ 185,597	$ 842,419	$ 766,923	$ 707,023
Interest expense	48,537	46,796	42,187	36,587	36,700	37,057	37,573	37,444	174,107	148,774	156,754
Net interest income	171,969	164,854	168,960	162,529	164,395	154,146	151,455	148,153	668,312	618,149	550,269
Provision for credit losses	2,200	1,640	3,632	2,470	3,800	5,840	1,429	800	9,942	11,869	8,101
Non-interest income:
Gains on sales of loans, net	6,375	5,520	4,791	4,128	12,307	4,823	3,105	1,795	20,814	22,030	4,245
Other non-interest income	21,229	20,568	19,899	20,931	20,353	20,030	21,159	19,653	16,702	16,953	15,185
Non-interest expense:
Amortization of tax credit investments	20,302	8,389	7,732	5,324	13,384	6,450	7,646	7,264	41,747	34,744	27,312
Other non-interest expense	116,015	124,176	111,507	115,628	111,445	106,818	112,157	110,961	54,922	58,870	55,108
Income Before Income Taxes	61,056	56,737	70,779	64,166	68,426	59,891	54,487	50,576	252,738	233,380	126,895
Income tax expense	34,958	17,088	20,714	18,071	18,336	17,049	15,460	14,389	90,831	65,234	23,938
Net Income	26,098	39,649	50,065	46,095	50,090	42,842	39,027	36,187	161,907	168,146	102,957
Dividends on preferred stock	3,172	2,683	1,797	1,797	1,797	1,797	1,797	1,797	9,449	7,188	3,813
Net Income Available to Common Shareholders	$ 22,926	$ 36,966	$ 48,268	$ 44,298	$ 48,293	$ 41,045	$ 37,230	$ 34,390	$ 152,458	$ 160,958	$ 99,144
Earnings per common share:
Basic (in usd per share)	$ 0.09	$ 0.14	$ 0.18	$ 0.17	$ 0.19	$ 0.16	$ 0.15	$ 0.14	$ 0.58	$ 0.63	$ 0.42
Diluted (in usd per share)	0.09	0.14	0.18	0.17	0.19	0.16	0.15	0.14	0.58	0.63	0.42
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)	264,332,895	264,058,174	263,958,292	263,797,024	256,422,437	254,473,994	254,381,170	254,075,349	264,038,123	254,841,571	234,405,909
Diluted (in shares)	265,288,067	264,936,220	264,778,242	264,546,266	256,952,036	254,940,307	254,771,213	254,347,420	264,889,007	255,268,336	234,437,000

Parent Company Information - Sc

Parent Company Information - Schedule of Condensed Statements of Financial Condition (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Assets
Interest bearing deposits with banks	$ 172,800	$ 171,710
Investment securities available for sale	1,493,905	1,297,373
Other assets	542,839	583,654
Total Assets	24,002,306	22,864,439
Liabilities and Shareholders’ Equity
Long-term borrowings	2,315,819	1,433,906
Junior subordinated debentures issued to capital trusts	41,774	41,577
Shareholders’ equity	2,533,165	2,377,156	$ 2,207,091	$ 1,863,017
Total Liabilities and Shareholders’ Equity	24,002,306	22,864,439
Parent Company
Assets
Cash	90,807	68,927
Interest bearing deposits with banks	0	82
Investment securities available for sale	254	239
Investments in and receivables due from subsidiaries	2,738,700	2,591,982
Other assets	36,277	36,188
Total Assets	2,866,038	2,697,418
Liabilities and Shareholders’ Equity
Dividends payable to shareholders	33,100	29,477
Long-term borrowings	235,153	236,731
Junior subordinated debentures issued to capital trusts	41,774	41,577
Accrued expenses and other liabilities	22,846	12,477
Shareholders’ equity	2,533,165	2,377,156
Total Liabilities and Shareholders’ Equity	$ 2,866,038	$ 2,697,418

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, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income
Gains (losses) on securities transactions, net									$ (20)	$ 777	$ 2,487
Income tax benefit	$ 34,958	$ 17,088	$ 20,714	$ 18,071	$ 18,336	$ 17,049	$ 15,460	$ 14,389	90,831	65,234	23,938
Net Income	26,098	39,649	50,065	46,095	50,090	42,842	39,027	36,187	161,907	168,146	102,957
Dividends on preferred stock	3,172	2,683	1,797	1,797	1,797	1,797	1,797	1,797	9,449	7,188	3,813
Net Income Available to Common Shareholders	$ 22,926	$ 36,966	$ 48,268	$ 44,298	$ 48,293	$ 41,045	$ 37,230	$ 34,390	152,458	160,958	99,144
Parent Company
Income
Dividends from subsidiary									122,000	90,000	110,000
Income from subsidiary									4,550	4,550	2,363
Gains (losses) on securities transactions, net									0	239	0
Other interest and income									135	34	211
Total Income									126,685	94,823	112,574
Total Expenses									39,621	33,604	20,578
Income before income tax benefit and equity in undistributed earnings (losses) of subsidiary									87,064	61,219	91,996
Income tax benefit									(30,179)	(23,349)	(21,939)
Income before equity in undistributed earnings (losses) of subsidiary									117,243	84,568	113,935
Equity in undistributed earnings (losses) of subsidiary									44,664	83,578	(10,978)
Net Income									161,907	168,146	102,957
Dividends on preferred stock									9,449	7,188	3,813
Net Income Available to Common Shareholders									$ 152,458	$ 160,958	$ 99,144

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, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net Income		$ 26,098	$ 39,649	$ 50,065	$ 46,095	$ 50,090	$ 42,842	$ 39,027	$ 36,187	$ 161,907	$ 168,146	$ 102,957
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation										12,204	10,032	7,575
Net amortization of premiums and accretion of discounts on securities										46,346	24,310	22,080
Losses (gains) on securities transactions, net										20	(777)	(2,487)
Net change in:
Other assets										(57,353)	47,458	(71,263)
Net cash provided by operating activities										619,230	419,177	154,929
Cash flows from investing activities:
Sales										2,727	4,782	140,640
Cash and cash equivalents acquired in acquisitions										0	0	201,025
Net cash used in investing activities										(1,547,548)	(1,527,313)	(1,700,399)
Cash flows from financing activities:
Proceeds from issuance of long-term borrowings, net										1,065,000	385,000	162,792
Proceeds from issuance of preferred stock, net										98,101	0	111,590
Dividends paid to preferred shareholders										(6,277)	(7,188)	(3,813)
Dividends paid to common shareholders										(115,881)	(111,813)	(102,279)
Purchase of common shares to treasury										(2,645)	(3,191)	(2,108)
Common stock issued, net	$ 106,400									8,207	112,085	7,898
Net cash provided by financing activities										951,927	1,086,837	1,128,863
Net change in cash and cash equivalents										23,609	(21,299)	(416,607)
Cash and cash equivalents at beginning of year					392,501				413,800	392,501	413,800	830,407
Cash and cash equivalents at end of year	392,501	416,110				392,501				416,110	392,501	413,800
Parent Company
Cash flows from operating activities:
Net Income										161,907	168,146	102,957
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed (earnings) losses of subsidiary										(44,664)	(83,578)	10,978
Stock-based compensation										12,204	10,032	7,575
Net amortization of premiums and accretion of discounts on securities										197	163	162
Losses (gains) on securities transactions, net										0	(239)	0
Net change in:
Other assets										(89)	8,007	(41,452)
Accrued expenses and other liabilities										8,737	18,381	9,604
Net cash provided by operating activities										138,292	120,912	89,824
Cash flows from investing activities:
Sales										0	739	49
Cash and cash equivalents acquired in acquisitions										0	0	109
Capital contributions to subsidiary										(98,000)	(106,000)	(115,000)
Subordinated debt issued by subsidiary										0	0	(100,000)
Net cash used in investing activities										(98,000)	(105,261)	(214,842)
Cash flows from financing activities:
Proceeds from issuance of long-term borrowings, net										0	0	98,897
Proceeds from issuance of preferred stock, net										98,101	0	111,590
Dividends paid to preferred shareholders										(6,277)	(7,188)	(3,813)
Dividends paid to common shareholders										(115,881)	(111,813)	(102,279)
Purchase of common shares to treasury										(2,644)	(3,191)	(2,108)
Common stock issued, net										8,207	112,085	7,898
Net cash provided by financing activities										(18,494)	(10,107)	110,185
Net change in cash and cash equivalents										21,798	5,544	(14,833)
Cash and cash equivalents at beginning of year					$ 69,009				$ 63,465	69,009	63,465	78,298
Cash and cash equivalents at end of year	$ 69,009	$ 90,807				$ 69,009				$ 90,807	$ 69,009	$ 63,465

Business Segments - Additional

Business Segments - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2017segment
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, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Average interest earning assets (unaudited)	$ 21,488,498				$ 19,829,312				$ 21,488,498	$ 19,829,312	$ 17,425,504
Interest income	220,506	$ 211,650	$ 211,147	$ 199,116	201,095	$ 191,203	$ 189,028	$ 185,597	842,419	766,923	707,023
Interest expense	48,537	46,796	42,187	36,587	36,700	37,057	37,573	37,444	174,107	148,774	156,754
Net Interest Income	171,969	164,854	168,960	162,529	164,395	154,146	151,455	148,153	668,312	618,149	550,269
Provision for credit losses	2,200	1,640	3,632	2,470	3,800	5,840	1,429	800	9,942	11,869	8,101
Net Interest Income After Provision for Credit Losses									658,370	606,280	542,168
Non-interest income									103,441	103,225	83,802
Non-interest expense:									509,073	476,125	499,075
Internal expense transfer									0	0	0
Income Before Income Taxes	$ 61,056	$ 56,737	$ 70,779	$ 64,166	$ 68,426	$ 59,891	$ 54,487	$ 50,576	$ 252,738	$ 233,380	$ 126,895
Return on average interest earning assets (pre-tax)	1.18%				1.18%				1.18%	1.18%	0.73%
Corporate and Other Adjustments
Segment Reporting Information [Line Items]
Average interest earning assets (unaudited)	$ 0				$ 0				$ 0	$ 0	$ 0
Interest income									(8,623)	(8,760)	(8,277)
Interest expense									11,813	11,520	11,233
Net Interest Income									(20,436)	(20,280)	(19,510)
Provision for credit losses									0	0	0
Net Interest Income After Provision for Credit Losses									(20,436)	(20,280)	(19,510)
Non-interest income									29,172	29,796	30,937
Non-interest expense:									364,457	341,978	370,051
Internal expense transfer									(283,247)	(280,251)	(264,364)
Income Before Income Taxes									(72,474)	(52,211)	(94,260)
Consumer Lending | Operating Segments
Segment Reporting Information [Line Items]
Average interest earning assets (unaudited)	$ 5,166,171				$ 5,081,798				5,166,171	5,081,798	4,764,306
Interest income									182,508	176,929	170,569
Interest expense									39,018	35,175	39,787
Net Interest Income									143,490	141,754	130,782
Provision for credit losses									3,197	905	1,153
Net Interest Income After Provision for Credit Losses									140,293	140,849	129,629
Non-interest income									63,375	63,443	45,306
Non-interest expense:									72,207	62,721	59,794
Internal expense transfer									68,007	71,578	72,441
Income Before Income Taxes									$ 63,454	$ 69,993	$ 42,700
Return on average interest earning assets (pre-tax)	1.23%				1.38%				1.23%	1.38%	0.90%
Commercial Lending | Operating Segments
Segment Reporting Information [Line Items]
Average interest earning assets (unaudited)	$ 12,652,832				$ 11,318,947				$ 12,652,832	$ 11,318,947	$ 9,682,714
Interest income									560,562	509,376	463,062
Interest expense									95,562	78,347	80,861
Net Interest Income									465,000	431,029	382,201
Provision for credit losses									6,745	10,964	6,948
Net Interest Income After Provision for Credit Losses									458,255	420,065	375,253
Non-interest income									3,149	3,292	744
Non-interest expense:									71,216	70,145	68,156
Internal expense transfer									166,847	160,198	146,463
Income Before Income Taxes									$ 223,341	$ 193,014	$ 161,378
Return on average interest earning assets (pre-tax)	1.77%				1.71%				1.77%	1.71%	1.67%
Investment Management | Operating Segments
Segment Reporting Information [Line Items]
Average interest earning assets (unaudited)	$ 3,669,495				$ 3,428,567				$ 3,669,495	$ 3,428,567	$ 2,978,484
Interest income									107,972	89,378	81,669
Interest expense									27,714	23,732	24,873
Net Interest Income									80,258	65,646	56,796
Provision for credit losses									0	0	0
Net Interest Income After Provision for Credit Losses									80,258	65,646	56,796
Non-interest income									7,745	6,694	6,815
Non-interest expense:									1,193	1,281	1,074
Internal expense transfer									48,393	48,475	45,460
Income Before Income Taxes									$ 38,417	$ 22,584	$ 17,077
Return on average interest earning assets (pre-tax)	1.05%				0.66%				1.05%	0.66%	0.57%