Valley National Bancorp (VLY) 10-Q 8 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Aug. 08, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Period Period Focus	Q2
Trading Symbol	VLY
Entity Registrant Name	VALLEY NATIONAL BANCORP
Entity CIK	714,310
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding (in shares)		331,469,947

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Assets
Cash and due from banks	$ 307,428	$ 243,310
Interest bearing deposits with banks	164,838	172,800
Investment securities:
Held to maturity (fair value of $1,988,782 at June 30, 2018 and $1,837,620 at December 31, 2017)	2,030,194	1,842,691
Available for sale	1,833,467	1,493,905
Total investment securities	3,863,661	3,336,596
Loans held for sale, at fair value	32,670	15,119
Loans	23,234,716	18,331,580
Less: Allowance for loan losses	(138,762)	(120,856)
Net loans	23,095,954	18,210,724
Premises and equipment, net	348,396	287,705
Bank owned life insurance	437,037	386,079
Accrued interest receivable	88,155	73,990
Goodwill	1,078,892	690,637
Other intangible assets, net	83,966	42,507
Other assets	681,982	542,839
Total Assets	30,182,979	24,002,306
Deposits:
Non-interest bearing	6,217,420	5,224,928
Interest bearing:
Savings, NOW and money market	10,769,940	9,365,013
Time	4,653,412	3,563,521
Total deposits	21,640,772	18,153,462
Short-term borrowings	2,877,912	748,628
Long-term borrowings	2,103,993	2,315,819
Junior subordinated debentures issued to capital trusts	55,196	41,774
Accrued expenses and other liabilities	227,794	209,458
Total Liabilities	26,905,667	21,469,141
Shareholders’ Equity
Common stock (no par value, authorized 450,000,000 shares; issued 331,538,971 shares at June 30, 2018 and 264,498,643 shares at December 31, 2017)	116,027	92,727
Surplus	2,789,190	2,060,356
Retained earnings	232,593	216,733
Accumulated other comprehensive loss	(69,124)	(46,005)
Treasury stock, at cost (84,946 common shares at June 30, 2018 and 29,792 common shares at December 31, 2017)	(1,065)	(337)
Total Shareholders’ Equity	3,277,312	2,533,165
Total Liabilities and Shareholders’ Equity	30,182,979	24,002,306
Series A Preferred Stock
Shareholders’ Equity
Preferred stock, no par value; authorized 50,000,000	111,590	111,590
Series B Preferred Stock
Shareholders’ Equity
Preferred stock, no par value; authorized 50,000,000	$ 98,101	$ 98,101

CONSOLIDATED STATEMENTS OF FIN3

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Fair Value	$ 1,988,782	$ 1,837,620
Preferred stock, par value (usd per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	50,000,000
Common stock, par value (usd per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	450,000,000
Common stock, shares issued (in shares)	331,538,971	264,498,643
Treasury stock, shares (in shares)	84,946	29,792
Series A Preferred Stock
Preferred stock, shares issued (in shares)	4,600,000	4,600,000
Series B Preferred Stock
Preferred stock, shares issued (in shares)	4,000,000	4,000,000

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Interest Income
Interest and fees on loans	$ 247,690	$ 181,720	$ 485,276	$ 356,073
Interest and dividends on investment securities:
Taxable	22,222	18,928	43,545	36,517
Tax-exempt	5,639	3,943	11,360	7,974
Dividends	3,728	2,137	5,667	4,288
Interest on federal funds sold and other short-term investments	839	279	1,765	610
Total interest income	280,118	207,007	547,613	405,462
Interest on deposits:
Savings, NOW and money market	24,756	12,714	47,073	22,897
Time	16,635	10,166	31,251	19,719
Interest on short-term borrowings	10,913	5,516	16,645	9,417
Interest on long-term borrowings and junior subordinated debentures	17,062	13,791	34,294	26,741
Total interest expense	69,366	42,187	129,263	78,774
Net Interest Income	210,752	164,820	418,350	326,688
Provision for credit losses	7,142	3,632	18,090	6,102
Net Interest Income After Provision for Credit Losses	203,610	161,188	400,260	320,586
Non-Interest Income
Trust and investment services	3,262	2,800	6,492	5,544
Insurance commissions	4,026	4,358	7,847	9,419
Service charges on deposit accounts	6,679	5,342	13,932	10,578
(Losses) gains on securities transactions, net	(36)	22	(801)	(1)
Fees from loan servicing	2,045	1,831	4,268	3,646
Gains on sales of loans, net	7,642	4,791	14,395	8,919
Bank owned life insurance	2,652	1,701	4,415	4,164
Other	11,799	7,985	19,772	12,281
Total non-interest income	38,069	28,830	70,320	54,550
Non-Interest Expense
Salary and employee benefits expense	78,944	63,564	172,236	129,491
Net occupancy and equipment expense	26,901	22,609	54,825	45,644
FDIC insurance assessment	8,044	4,928	13,542	10,055
Amortization of other intangible assets	4,617	2,562	8,910	5,098
Professional and legal fees	5,337	4,302	22,384	8,997
Amortization of tax credit investments	4,470	7,732	9,744	13,056
Telecommunication expense	3,015	2,707	6,609	5,366
Other	18,588	10,835	35,418	22,484
Total non-interest expense	149,916	119,239	323,668	240,191
Income Before Income Taxes	91,763	70,779	146,912	134,945
Income tax expense	18,961	20,714	32,145	38,785
Net Income	72,802	50,065	114,767	96,160
Dividends on preferred stock	3,172	1,797	6,344	3,594
Net Income Available to Common Shareholders	$ 69,630	$ 48,268	$ 108,423	$ 92,566
Earnings Per Common Share:
Basic (usd per share)	$ 0.21	$ 0.18	$ 0.33	$ 0.35
Diluted (usd per share)	0.21	0.18	0.33	0.35
Cash Dividends Declared per Common Share (usd per share)	$ 0.11	$ 0.11	$ 0.22	$ 0.22
Weighted Average Number of Common Shares Outstanding:
Basic (in shares)	331,318,381	263,958,292	331,024,531	263,878,103
Diluted (in shares)	332,895,483	264,778,242	332,599,991	264,662,863

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 72,802	$ 50,065	$ 114,767	$ 96,160
Unrealized gains and losses on available for sale securities
Net (losses) gains arising during the period	(6,461)	1,896	(27,390)	3,203
Less reclassification adjustment for net losses (gains) included in net income	30	(13)	578	0
Total	(6,431)	1,883	(26,812)	3,203
Non-credit impairment losses on available for sale securities
Net change in non-credit impairment losses on securities	212	21	(56)	134
Less reclassification adjustment for accretion of credit impairment losses included in net income	12	(39)	(4)	(126)
Total	224	(18)	(60)	8
Unrealized gains and losses on derivatives (cash flow hedges)
Net gains (losses) on derivatives arising during the period	455	(873)	2,415	(746)
Less reclassification adjustment for net losses included in net income	619	1,356	1,655	2,831
Total	1,074	483	4,070	2,085
Defined benefit pension plan
Amortization of net loss	112	59	224	118
Total other comprehensive (loss) income	(5,021)	2,407	(22,578)	5,414
Total comprehensive income	$ 67,781	$ 52,472	$ 92,189	$ 101,574

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities
Net income	$ 114,767	$ 96,160
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	13,783	12,549
Stock-based compensation	12,153	6,872
Provision for credit losses	18,090	6,102
Net amortization of premiums and accretion of discounts on securities and borrowings	17,212	11,366
Amortization of other intangible assets	8,910	5,098
Losses on securities transactions, net	801	1
Proceeds from sales of loans held for sale	437,876	303,268
Gains on sales of loans, net	(14,395)	(8,919)
Originations of loans held for sale	(446,849)	(154,475)
Losses on sales of assets, net	222	453
Net change in
Cash surrender value of bank owned life insurance	(4,415)	(4,164)
Accrued interest receivable	(2,042)	(2,916)
Other assets	(55,464)	(1,521)
Accrued expenses and other liabilities	(16,281)	(20,709)
Net cash provided by operating activities	84,368	249,165
Cash flows from investing activities
Net loan originations and purchases	(1,158,514)	(707,654)
Investment securities held to maturity
Purchases	(100,160)	(60,230)
Maturities, calls and principal repayments	120,876	157,351
Investment securities available for sale
Purchases	(239,226)	(252,770)
Sales	38,625	0
Maturities, calls and principal repayments	124,635	87,188
Death benefit proceeds from bank owned life insurance	2,652	1,998
Proceeds from sales of real estate property and equipment	9,773	6,822
Purchases of real estate property and equipment	(12,811)	(12,976)
Cash and cash equivalents acquired in acquisition	156,612	0
Net cash used in investing activities	(1,057,538)	(780,271)
Cash flows from financing activities
Net change in deposits	(77,533)	(480,690)
Net change in short-term borrowings	1,479,305	653,484
Proceeds from issuance of long-term borrowings, net	0	560,000
Repayments of long-term borrowings	(300,027)	(175,000)
Cash dividends paid to preferred shareholders	(6,344)	(3,594)
Cash dividends paid to common shareholders	(65,989)	(58,000)
Purchase of common shares to treasury	(2,598)	(2,183)
Common stock issued, net	2,512	2,377
Net cash provided by financing activities	1,029,326	496,394
Net change in cash and cash equivalents	56,156	(34,712)
Cash and cash equivalents at beginning of year	416,110	392,501
Cash and cash equivalents at end of period	472,266	357,789
Cash payments for
Interest on deposits and borrowings	124,816	100,380
Federal and state income taxes	29,280	7,683
Supplemental schedule of non-cash investing activities
Transfer of loans to other real estate owned	672	5,865
Transfer of loans to loans held for sale	263,324	225,541
Non-cash assets acquired:
Loans	3,744,682	0
Premises and equipment	62,066	0
Bank owned life insurance	49,052	0
Accrued interest receivable	12,123	0
Goodwill	388,255	0
Other intangible assets	45,906	0
Other assets	98,134	0
Total non-cash assets acquired	4,922,820	0
Liabilities assumed:
Deposits	3,564,843	0
Short-term borrowings	649,979	0
Long-term borrowings	87,283	0
Junior subordinated debentures issued to capital trusts	13,249	0
Accrued expenses and other liabilities	26,848	0
Total liabilities assumed	4,342,202	0
Net non-cash assets acquired	580,618	0
Common stock issued in acquisition	737,230	0
Held-to-maturity Securities
Non-cash assets acquired:
Investment securities	214,217	0
Available for Sale Securities
Non-cash assets acquired:
Investment securities	$ 308,385	$ 0

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited consolidated financial statements of Valley National Bancorp, a New Jersey corporation ("Valley"), include the accounts of its commercial bank subsidiary, Valley National Bank (the “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. Certain prior period amounts have been reclassified to conform to the current presentation. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly Valley’s financial position, results of operations and cash flows at June 30, 2018 and for all periods presented have been made. The results of operations for the three and six months ended on June 30, 2018 are not necessarily indicative of the results to be expected for the entire fiscal year. In preparing the unaudited 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; estimated cash flows from purchased credit impaired loans, 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. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP and industry practice have been condensed or omitted pursuant to rules and regulations of the SEC. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in Valley’s Annual Report on Form 10-K for the year ended December 31, 2017 .

Business Combinations

Business Combinations	6 Months Ended
	Jun. 30, 2018
Business Combinations [Abstract]
Business Combinations	Business Combinations On January 1, 2018, Valley completed its acquisition of USAmeriBancorp, Inc. (USAB) and its wholly-owned subsidiary, USAmeriBank, headquartered in Clearwater, Florida. USAB had approximately $5.1 billion in assets, $3.7 billion in net loans and $3.6 billion in deposits, after purchase accounting adjustments, and maintained a branch network of 29 offices. The acquisition represents a significant addition to Valley’s Florida franchise, specifically in the Tampa Bay market. The acquisition also brought Valley to the Birmingham, Montgomery, and Tallapoosa areas in Alabama, where Valley now operates 15 of its branches. The common shareholders of USAB received 6.1 shares of Valley common stock for each USAB share they owned. The total consideration for the acquisition was approximately $737 million . Merger expenses totaled $3.2 million and $16.8 million for the three and six months ended June 30, 2018 , respectively, which primarily related to salary and employee benefits and other expense included in non-interest expense on the consolidated statements of income. The following table sets forth assets acquired and liabilities assumed in the USAB acquisition, at their estimated fair values as of the closing date of the transaction: January 1, 2018 (in thousands) Assets acquired: Cash and cash equivalents $ 156,612 Investment securities held to maturity 214,217 Investment securities available for sale 308,385 Loans 3,744,682 Premises and equipment 62,066 Bank owned life insurance 49,052 Accrued interest receivable 12,123 Goodwill 388,255 Other intangible assets 45,906 Other assets: Deferred taxes 8,698 Other real estate owned 4,073 FHLB and FRB stock 38,809 Tax credit investments 20,138 Other 26,416 Total other assets 98,134 Total assets acquired $ 5,079,432 Liabilities assumed: Deposits: Non-interest bearing $ 887,083 Savings, NOW and money market 1,678,115 Time 999,645 Total deposits 3,564,843 Short-term borrowings 649,979 Long-term borrowings 87,283 Junior subordinated debentures issued to capital trusts 13,249 Accrued expenses and other liabilities 26,848 Total liabilities assumed $ 4,342,202 Common stock issued in acquisition 737,230 The determination of the fair value of the assets acquired and liabilities assumed required management to make estimates about discount rates, future expected cash flows, market conditions, and other future events that are highly subjective in nature and subject to change. The fair value estimates are subject to change for up to one year after the closing date of the transaction if additional information (existing at the date of closing) relative to closing date fair values becomes available. As Valley continues to analyze the acquired assets and liabilities, there may be adjustments to the recorded carrying values. However, Valley does not expect significant future adjustments to the recorded amounts at January 1, 2018. Fair Value Measurement of Assets Acquired and Liabilities Assumed Described below are the methods used to determine the fair values of the significant assets acquired and liabilities assumed in the USAB acquisition. Cash and cash equivalents. The estimated fair values of cash and cash equivalents approximate their stated face amounts, as these financial instruments are either due on demand or have short-term maturities. Investment securities. The estimated fair values of the investment securities were calculated utilizing Level 2 inputs. The prices for these instruments are obtained through an independent pricing service when available, or dealer market participants with whom Valley has historically transacted both purchases and sales of investment securities. The prices are 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 reviewed 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. Loans. The acquired loan portfolio was segregated into categories for valuation purposes primarily based on loan type (commercial, commercial real estate, residential and consumer) and credit risk rating. The estimated fair values were computed by discounting the expected cash flows from the respective portfolios. Management estimated the contractual cash flows expected to be collected at the acquisition date by using valuation models that incorporated estimates of current key assumptions, such as prepayment speeds, default rates, and loss severity rates. Prepayment assumptions were developed by reference to recent or historical prepayment speeds observed for loans with similar underlying characteristics. Prepayment assumptions were influenced by many factors, including, but not limited to, forward interest rates, loan and collateral types, payment status, and current loan-to-value ratios. Default and loss severity rates were developed by reference to recent or historical default and loss rates observed for loans with similar underlying characteristics. Default and loss severity assumptions were influenced by many factors, including, but not limited to, underwriting processes and documentation, vintages, collateral types, collateral locations, estimated collateral values, loan-to-value ratios, and debt-to-income ratios. The expected cash flows from the acquired loan portfolios were discounted to present value based on the estimated market rates. The market rates were estimated using a buildup approach based on the following components: funding cost, servicing cost and consideration of liquidity premium. The funding cost estimated for the loans was based on a mix of wholesale borrowing and equity funding. The methods used to estimate the Level 3 fair values of loans are extremely sensitive to the assumptions and estimates used. While management attempted to use assumptions and estimates that best reflected the acquired loan portfolios and current market conditions, a greater degree of subjectivity is inherent in these values than in those determined in active markets. The difference between the fair value and the expected cash flows from the acquired loans will be accreted to interest income over the remaining term of the loans in accordance with Accounting Standards Codification (ASC) Subtopic 310-30, “Loans and Debt Securities Acquired with Deteriorated Credit Quality.” See Note 8 for further details. Other intangible assets. Other intangible assets mostly consisting of core deposit intangibles (CDI) are measures of the value of non-maturity checking, savings, NOW and money market deposits that are acquired in a business combination. The fair value of the CDI is based on the present value of the expected cost savings attributable to the core deposit funding, relative to an alternative source of funding. The CDI is amortized over an estimated useful life of 10 years to approximate the existing deposit relationships acquired. Deposits. The fair values of deposit liabilities with no stated maturity (i.e., non-interest bearing accounts and savings, NOW and money market accounts) are equal to the carrying amounts payable on demand. The fair values of certificates of deposit represent contractual cash flows, discounted to present value using interest rates currently offered on deposits with similar characteristics and remaining maturities. Short-term borrowings. The short-term borrowings consist of securities sold under agreements to repurchase and FHLB advances. The carrying amounts approximate their fair values because they frequently re-price to a market rate. Long-term borrowings. The fair values of long-term borrowings consisting of subordinated notes and FHLB advances were estimated by discounting the estimated future cash flows using market discount rates for borrowings with similar characteristics, terms and remaining maturities. Junior subordinated debentures issued to capital trusts. There is no active market for the trust preferred securities issued by Aliant Statutory Trust II; therefore, the fair value of junior subordinated debentures was estimated utilizing the income approach. Valuation methods under the income approach include those methods that provide for the direct capitalization of earnings estimates, as well as valuation methods calling for the forecasting of future benefits (earnings or cash flows) and then discounting those benefits to the present at an appropriate discount rate. Under the income approach, the expected cash flows over the remaining estimated life were discounted to the present at an appropriate discount rate.

Earnings Per Common Share

Earnings Per Common Share	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share The following table shows the calculation of both basic and diluted earnings per common share for the three and six months ended June 30, 2018 and 2017 . Three Months Ended Six Months Ended 2018 2017 2018 2017 (in thousands, except for share data) Net income available to common shareholders $ 69,630 $ 48,268 $ 108,423 $ 92,566 Basic weighted average number of common shares outstanding 331,318,381 263,958,292 331,024,531 263,878,103 Plus: Common stock equivalents 1,577,102 819,950 1,575,460 784,760 Diluted weighted average number of common shares outstanding 332,895,483 264,778,242 332,599,991 264,662,863 Earnings per common share: Basic $ 0.21 $ 0.18 $ 0.33 $ 0.35 Diluted 0.21 0.18 0.33 0.35 Common stock equivalents represent the dilutive effect of additional common shares issuable upon the assumed vesting or exercise, if applicable, of 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. Anti-dilutive warrants and, to a lesser extent, common stock options equaled approximately 2.9 million and 3.3 million shares for the three and six months ended June 30, 2018 and 2017 , respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Accumulated Other Comprehensive Loss	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 three and six months ended June 30, 2018 . Components of Accumulated Other Comprehensive Loss Total Accumulated Other Comprehensive Loss Unrealized Gains and Losses on Available for Sale (AFS) Securities Non-credit Impairment Losses on AFS Securities Unrealized Gains and (Losses) on Derivatives Defined Benefit Pension Plan (in thousands) Balance at March 31, 2018 $ (32,865 ) $ (664 ) $ (5,403 ) $ (25,171 ) $ (64,103 ) Other comprehensive (loss) income before reclassifications (6,461 ) 212 455 — (5,794 ) Amounts reclassified from other comprehensive (loss) income 30 12 619 112 773 Other comprehensive (loss) income, net (6,431 ) 224 1,074 112 (5,021 ) Balance at June 30, 2018 $ (39,296 ) $ (440 ) $ (4,329 ) $ (25,059 ) $ (69,124 ) Components of Accumulated Other Comprehensive Loss Total Accumulated Other Comprehensive Loss Unrealized Gains and Losses on Available for Sale (AFS) Securities Non-credit Impairment Losses on AFS Securities Unrealized Gains and (Losses) on Derivatives Defined Benefit Pension Plan (in thousands) Balance at December 31, 2017 $ (12,004 ) $ (380 ) $ (8,338 ) $ (25,283 ) $ (46,005 ) Reclassification due to the adoption of ASU No. 2016-01 (480 ) — — — (480 ) Reclassification due to the adoption of ASU No. 2017-12 — — (61 ) — (61 ) Balance at January 1, 2018 (12,484 ) (380 ) (8,399 ) (25,283 ) (46,546 ) Other comprehensive (loss) income before reclassification (27,390 ) (56 ) 2,415 — (25,031 ) Amounts reclassified from other comprehensive (loss) income 578 (4 ) 1,655 224 2,453 Other comprehensive (loss) income, net (26,812 ) (60 ) 4,070 224 (22,578 ) Balance at June 30, 2018 $ (39,296 ) $ (440 ) $ (4,329 ) $ (25,059 ) $ (69,124 ) The following table presents amounts reclassified from each component of accumulated other comprehensive loss on a gross and net of tax basis for the three and six months ended June 30, 2018 and 2017 . Amounts Reclassified from Accumulated Other Comprehensive Loss Three Months Ended Six Months Ended Components of Accumulated Other Comprehensive Loss 2018 2017 2018 2017 Income Statement Line Item (in thousands) Unrealized (losses) gains on AFS securities before tax $ (36 ) $ 22 $ (801 ) $ (1 ) (Losses) gains on securities transactions, net Tax effect 6 (9 ) 223 1 Total net of tax (30 ) 13 (578 ) — Non-credit impairment losses on AFS securities before tax: Accretion of credit loss impairment due to an increase in expected cash flows (16 ) 67 6 215 Interest and dividends on investment securities (taxable) Tax effect 4 (28 ) (2 ) (89 ) Total net of tax (12 ) 39 4 126 Unrealized losses on derivatives (cash flow hedges) before tax (866 ) (2,314 ) (2,317 ) (4,832 ) Interest expense Tax effect 247 958 662 2,001 Total net of tax (619 ) (1,356 ) (1,655 ) (2,831 ) Defined benefit pension plan: Amortization of net loss (157 ) (101 ) (314 ) (202 ) * Tax effect 45 42 90 84 Total net of tax (112 ) (59 ) (224 ) (118 ) Total reclassifications, net of tax $ (773 ) $ (1,363 ) $ (2,453 ) $ (2,823 ) * Amortization of net loss is included in the computation of net periodic pension cost recognized within other non-interest expense.

New Authoritative Accounting Gu

New Authoritative Accounting Guidance	6 Months Ended
	Jun. 30, 2018
Accounting Changes and Error Corrections [Abstract]
New Authoritative Accounting Guidance	New Authoritative Accounting Guidance New Accounting Guidance Adopted in 2018 Accounting Standards Update (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. 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 required a modified retrospective method to be used by Valley and resulted in an immaterial cumulative-effect adjustment to retained earnings as of January 1, 2018 to eliminate the separate measurement of ineffectiveness from accumulated comprehensive income (see Note 4). 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 was effective for Valley for its annual and interim reporting periods beginning January 1, 2018. ASU No. 2017-07 did 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. ASU No. 2016-16 eliminates the exception for intercompany sales of assets. ASU No. 2016-16 was effective for Valley on January 1, 2018 and it was applied using the modified retrospective method. As a result, Valley recorded a $15.4 million cumulative effect adjustment that reduced retained earnings effective January 1, 2018 to record net deferred tax liabilities related to pre-existing transactions. ASU No. 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments" clarifies how certain cash receipts and cash payments should be classified and presented in the statement of cash flows. ASU No. 2016-15 includes guidance on eight specific cash flow issues with the objective of reducing the existing diversity of practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. ASU No. 2016-15 was effective for Valley for annual and interim reporting periods beginning January 1, 2018 and it was applied using a retrospective transition method to each period presented. ASU No. 2016-15 did 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 caused by a change in instrument-specific credit risk in other comprehensive income, (iv) entities must assess whether a valuation allowance is required for deferred tax assets related to available-for-sale debt securities, and (v) entities are required to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. ASU No. 2016-01 also eliminates the requirement for public business entities to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet (see Note 6). ASU No. 2016-01 was effective for Valley for reporting periods beginning January 1, 2018 and did 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 modify 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 did not identify material changes related to the timing or amount of revenue recognition. Therefore, Valley did not record 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 herein and consistent with the Annual Report on Form 10-K for the year ended December 31, 2017 ) that are within the scope of the new guidance is not necessary. Qualitative disclosures regarding such revenues, as required by the new guidance, are presented in Note 12. 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 the 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. 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. 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’s implementation effort is managed through several cross-functional working groups. These groups continue to evaluate the requirements of the new standard, assess its impact on current operational processes, and develop loss models that accurately project lifetime expected loss estimates. Valley expects that the adoption of ASU No. 2016-13 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 8) 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)” and subsequent related updates require 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 early adoption permitted. Valley expects to initially apply Topic 842 at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings as of January 1, 2019 under the new optional transition method provided by ASU No. 2018-11, "Leases (Topic 842): Targeted Improvements". The comparative prior periods reported in the financial statements in the period of adoption will continue to be presented in accordance with current GAAP in Topic 840. In addition, the amendments in ASU No. 2018-11 provide lessors with a practical expedient, by class of underlying asset, to not separate non-lease components from the associated lease component. Those components can be accounted for as a single component if the non-lease components would otherwise be accounted for under the new revenue guidance (Topic 606) when certain criteria are met. Overall, management continues to evaluate the impact of Topic 842 on Valley’s consolidated financial statements and presently evaluating all of its known leases for compliance with the new lease accounting guidance. Management has completed an initial review of Valley's contractual arrangements for embedded leases, and is currently validating the results of this review and accumulating the lease data necessary to apply the new guidance. 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.

Fair Value Measurement of Asset

Fair Value Measurement of Assets and Liabilities	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurement of Assets and Liabilities	Fair Value Measurement of Assets and Liabilities 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 and Non-Recurring Basis The following tables present the assets and liabilities that are measured at fair value on a recurring and nonrecurring basis by level within the fair value hierarchy as reported on the consolidated statements of financial condition at June 30, 2018 and December 31, 2017 . The assets presented under “nonrecurring fair value measurements” in the tables 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). June 30, Fair Value Measurements at Reporting Date Using: 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 $ 48,667 $ 48,667 $ — $ — U.S. government agency securities 38,006 — 38,006 — Obligations of states and political subdivisions 211,529 — 211,529 — Residential mortgage-backed securities 1,477,846 — 1,471,403 6,443 Trust preferred securities 2,279 — 2,279 — Corporate and other debt securities 55,140 7,629 47,511 — Total available for sale 1,833,467 56,296 1,770,728 6,443 Loans held for sale (1) 32,670 — 32,670 — Other assets (2) 30,132 — 30,132 — Total assets $ 1,896,269 $ 56,296 $ 1,833,530 $ 6,443 Liabilities Other liabilities (2) $ 37,902 $ — $ 37,902 $ — Total liabilities $ 37,902 $ — $ 37,902 $ — Non-recurring fair value measurements: Collateral dependent impaired loans (3) $ 36,957 $ — $ — $ 36,957 Loan servicing rights 2,212 — — 2,212 Foreclosed assets 1,239 — — 1,239 Total $ 40,408 $ — $ — $ 40,408 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 (1) Represents residential mortgage loans originated for sale that are carried at fair value and had contractual unpaid principal balances totaling approximately $32.1 million and $14.8 million at June 30, 2018 and December 31, 2017 , 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 three and six months ended June 30, 2018 and 2017 are summarized below: Available for Sale Securities Three Months Ended Six Months Ended 2018 2017 2018 2017 (in thousands) Balance, beginning of the period $ 6,498 $ 11,367 $ 7,360 $ 11,888 Total net gains (losses) included in other comprehensive income 313 (31 ) (85 ) 13 Settlements, net (368 ) (606 ) (832 ) (1,171 ) Balance, end of the period $ 6,443 $ 10,730 $ 6,443 $ 10,730 No changes in unrealized gains or losses on Level 3 securities were included in earnings during the three and six months ended June 30, 2018 and 2017 . There were no transfers of assets into or out of Level 3, or between Level 1 and Level 2, during the three and six months ended June 30, 2018 and 2017 . There have been no material changes in the valuation methodologies used at June 30, 2018 from December 31, 2017 . 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 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 preferred equity securities are reported at fair value utilizing Level 1 inputs. The majority of other investment securities are reported at fair value utilizing Level 2 inputs. The prices for these instruments are obtained through an independent pricing service or dealer market participants with whom Valley has historically transacted both purchases and sales of investment securities. Prices obtained from these sources include prices derived from market quotations and matrix pricing. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. Management reviews the data and assumptions used in pricing the securities by its third party provider to ensure the highest level of significant inputs are derived from market observable data. For certain securities, the inputs used by either dealer market participants or an independent pricing service may be derived from unobservable market information (Level 3 inputs). In these instances, Valley evaluates the appropriateness and quality of the assumption and the resulting price. In addition, Valley reviews the volume and level of activity for all available for sale and trading 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 four private label mortgage-backed securities. The cash flows for the Level 3 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 June 30, 2018 : Security Type Valuation Technique Unobservable Input Range Weighted Average Private label mortgage-backed securities Discounted cash flow Prepayment rate 1.8 - 28.8% 13.0 % Default rate 3.1 - 47.4 8.9 Loss severity 45.4 - 62.0 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. The cash flow assumptions for the Level 3 securities 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. 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 June 30, 2018 and December 31, 2017 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 analysis 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 June 30, 2018 and December 31, 2017 ), is determined based on the current market prices for similar instruments provided by Fannie Mae and Freddie Mac. 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 June 30, 2018 and December 31, 2017 . 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 nonrecurring 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 may be adjusted based on certain discounting criteria. At June 30, 2018 , certain appraisals were discounted based on specific market data by location and property type. During the quarter ended June 30, 2018 , 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 were immaterial for the three and six months ended June 30, 2018 as compared to $1.9 million and $2.1 million for the three and six months ended June 30, 2017 , respectively. At June 30, 2018 , collateral dependent impaired loans with a total recorded investment of $60.3 million were reduced by specific valuation allowance allocations totaling $23.3 million to a reported total net carrying amount of $37.0 million . 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 June 30, 2018 , the fair value model used prepayment speeds (stated as constant prepayment rates) from 0 percent up to 24 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 net impairment charges on its loan servicing rights totaling $90 thousand and $317 thousand for the three and six months ended June 30, 2018 , respectively, and $50 thousand and $51 thousand for the three and six months ended June 30, 2017 , respectively. 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 certain discounting criteria, similar to the criteria used for impaired loans described above. There were no discount adjustments of the appraisals of foreclosed assets at June 30, 2018 . At June 30, 2018 , foreclosed assets included $1.2 million of assets that were measured at fair value upon initial recognition or subsequently re-measured during the quarter ended June 30, 2018 . The foreclosed assets charge-offs to the allowance for the loan losses totaled $649 thousand and $282 thousand for the three months ended June 30, 2018 and 2017 , respectively, and $1.2 million and $994 thousand for the six months ended June 30, 2018 and 2017 , respectively. The re-measurement of foreclosed assets at fair value subsequent to their initial recognition resulted in net losses within non-interest expense of $145 thousand and $290 thousand for the six months ended June 30, 2018 and 2017 , 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 June 30, 2018 and December 31, 2017 were as follows: Fair Value Hierarchy June 30, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value (in thousands) Financial assets Cash and due from banks Level 1 $ 307,428 $ 307,428 $ 243,310 $ 243,310 Interest bearing deposits with banks Level 1 164,838 164,838 172,800 172,800 Investment securities held to maturity: U.S. Treasury securities Level 1 138,598 141,605 138,676 145,257 U.S. government agency securities Level 2 9,447 9,280 9,859 9,981 Obligations of states and political subdivisions Level 2 615,651 616,786 465,878 477,479 Residential mortgage-backed securities Level 2 1,185,165 1,146,450 1,131,945 1,118,044 Trust preferred securities Level 2 49,833 43,334 49,824 40,088 Corporate and other debt securities Level 2 31,500 31,327 46,509 46,771 Total investment securities held to maturity 2,030,194 1,988,782 1,842,691 1,837,620 Net loans Level 3 23,095,954 22,752,737 18,210,724 17,562,153 Accrued interest receivable Level 1 88,155 88,155 73,990 73,990 Federal Reserve Bank and Federal Home Loan Bank stock (1) Level 1 291,705 291,705 178,668 178,668 Financial liabilities Deposits without stated maturities Level 1 16,987,360 16,987,360 14,589,941 14,589,941 Deposits with stated maturities Level 2 4,653,412 4,604,918 3,563,521 3,465,373 Short-term borrowings Level 1 2,877,912 2,580,009 748,628 679,316 Long-term borrowings Level 2 2,103,993 1,812,019 2,315,819 2,453,797 Junior subordinated debentures issued to capital trusts Level 2 55,196 48,918 41,774 37,289 Accrued interest payable (2) Level 1 18,608 18,608 14,161 14,161 (1) Included in other assets. (2) Included in accrued expenses and other liabilities.

Investment Securities

Investment Securities	6 Months Ended
	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Investment Securities Held to Maturity The amortized cost, gross unrealized gains and losses and fair value of securities held to maturity at June 30, 2018 and December 31, 2017 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) June 30, 2018 U.S. Treasury securities $ 138,598 $ 3,007 $ — $ 141,605 U.S. government agency securities 9,447 21 (188 ) 9,280 Obligations of states and political subdivisions: Obligations of states and state agencies 355,219 4,940 (5,862 ) 354,297 Municipal bonds 260,432 3,634 (1,577 ) 262,489 Total obligations of states and political subdivisions 615,651 8,574 (7,439 ) 616,786 Residential mortgage-backed securities 1,185,165 2,493 (41,208 ) 1,146,450 Trust preferred securities 49,833 78 (6,577 ) 43,334 Corporate and other debt securities 31,500 119 (292 ) 31,327 Total investment securities held to maturity $ 2,030,194 $ 14,292 $ (55,704 ) $ 1,988,782 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 The age of unrealized losses and fair value of related securities held to maturity at June 30, 2018 and December 31, 2017 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) June 30, 2018 U.S. government agency securities $ 6,527 $ (188 ) $ — $ — $ 6,527 $ (188 ) Obligations of states and political subdivisions: Obligations of states and state agencies 125,371 (2,503 ) 46,899 (3,359 ) 172,270 (5,862 ) Municipal bonds 87,785 (1,546 ) 533 (31 ) 88,318 (1,577 ) Total obligations of states and political subdivisions 213,156 (4,049 ) 47,432 (3,390 ) 260,588 (7,439 ) Residential mortgage-backed securities 425,381 (12,139 ) 555,355 (29,069 ) 980,736 (41,208 ) Trust preferred securities — — 29,903 (6,577 ) 29,903 (6,577 ) Corporate and other debt securities 10,478 (22 ) 4,731 (270 ) 15,209 (292 ) Total $ 655,542 $ (16,398 ) $ 637,421 $ (39,306 ) $ 1,292,963 $ (55,704 ) 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 ) 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. Within the held to maturity portfolio, the total number of security positions in an unrealized loss position was 362 at June 30, 2018 and 152 at December 31, 2017 . The unrealized losses within the residential mortgage-backed securities category of the held to maturity portfolio at June 30, 2018 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 June 30, 2018 primarily related to four non-rated single-issuer trust preferred 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 June 30, 2018 . As of June 30, 2018 , 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 June 30, 2018 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. June 30, 2018 Amortized Cost Fair Value (in thousands) Due in one year $ 13,524 $ 13,580 Due after one year through five years 223,219 226,330 Due after five years through ten years 321,954 329,369 Due after ten years 286,332 273,053 Residential mortgage-backed securities 1,185,165 1,146,450 Total investment securities held to maturity $ 2,030,194 $ 1,988,782 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 8.4 years at June 30, 2018 . Available for Sale The amortized cost, gross unrealized gains and losses and fair value of securities available for sale at June 30, 2018 and December 31, 2017 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) June 30, 2018 U.S. Treasury securities $ 50,986 $ — $ (2,319 ) $ 48,667 U.S. government agency securities 39,212 34 (1,240 ) 38,006 Obligations of states and political subdivisions: Obligations of states and state agencies 110,580 52 (2,636 ) 107,996 Municipal bonds 104,922 281 (1,670 ) 103,533 Total obligations of states and political subdivisions 215,502 333 (4,306 ) 211,529 Residential mortgage-backed securities 1,525,041 1,330 (48,525 ) 1,477,846 Trust preferred securities 2,583 — (304 ) 2,279 Corporate and other debt securities 55,629 219 (708 ) 55,140 Total investment securities available for sale $ 1,888,953 $ 1,916 $ (57,402 ) $ 1,833,467 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 The age of unrealized losses and fair value of related securities available for sale at June 30, 2018 and December 31, 2017 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) June 30, 2018 U.S. Treasury securities $ 901 $ (13 ) $ 47,766 $ (2,306 ) $ 48,667 $ (2,319 ) U.S. government agency securities 30,485 (1,240 ) — — 30,485 (1,240 ) Obligations of states and political subdivisions: Obligations of states and state agencies 96,617 (2,301 ) 8,041 (335 ) 104,658 (2,636 ) Municipal bonds 69,301 (1,251 ) 12,010 (419 ) 81,311 (1,670 ) Total obligations of states and political subdivisions 165,918 (3,552 ) 20,051 (754 ) 185,969 (4,306 ) Residential mortgage-backed securities 875,444 (21,543 ) 553,585 (26,982 ) 1,429,029 (48,525 ) Trust preferred securities — — 2,279 (304 ) 2,279 (304 ) Corporate and other debt securities 22,622 (460 ) 14,756 (248 ) 37,378 (708 ) Total $ 1,095,370 $ (26,808 ) $ 638,437 $ (30,594 ) $ 1,733,807 $ (57,402 ) 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 ) 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 June 30, 2018 was 567 as compared to 327 at December 31, 2017 . The unrealized losses for the residential mortgage-backed securities category of the available for sale portfolio at June 30, 2018 largely related to several investment grade residential mortgage-backed securities mainly issued by Ginnie Mae, Fannie Mae, and Freddie Mac. As of June 30, 2018 , 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 $1.0 billion . The contractual maturities of debt securities available for sale at June 30, 2018 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. June 30, 2018 Amortized Cost Fair Value (in thousands) Due in one year $ 18,801 $ 18,876 Due after one year through five years 127,790 124,100 Due after five years through ten years 80,582 79,923 Due after ten years 136,739 132,723 Residential mortgage-backed securities 1,525,041 1,477,845 Total investment securities available for sale $ 1,888,953 $ 1,833,467 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 was 8.4 years at June 30, 2018 . 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; 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 June 30, 2018 ) 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. There were no other-than-temporary impairment losses on securities recognized in earnings for the three and six months ended June 30, 2018 and 2017 . Management does not believe that any individual unrealized loss as of June 30, 2018 included in the investment portfolio tables above represents other-than-temporary impairment as management mainly attributes the declines in fair value to changes in interest rates and market volatility, not credit quality or other factors. Based on a comparison of the present value of expected cash flows to the amortized cost, management believes there are no credit losses on these securities. Valley does not have the intent to sell, nor is it more likely than not that Valley will be required to sell, the securities contained in the table above before the recovery of their amortized cost basis or maturity. At June 30, 2018 , four previously impaired private label mortgage-backed securities had a combined amortized cost and fair value of $7.0 million and $6.4 million , respectively. Realized Gains and Losses Net losses on securities transactions totaled $36 thousand and $801 thousand for the three and six months ended June 30, 2018 , respectively. The net losses on securities transactions for the six months ended June 30, 2018 were mainly related to sales of equity securities classified as available for sale prior to the adoption of ASU No. 2016-01 on January 1, 2018 and a portion of the total municipal securities acquired from USAB. Net gains and losses on securities transactions were immaterial for the three and six months ended June 30, 2017 .

Loans

Loans	6 Months Ended
	Jun. 30, 2018
Receivables [Abstract]
Loans	Loans The detail of the loan portfolio as of June 30, 2018 and December 31, 2017 was as follows: June 30, 2018 December 31, 2017 Non-PCI Loans PCI Loans* Total Non-PCI Loans PCI Loans* Total (in thousands) Loans: Commercial and industrial $ 3,021,524 $ 808,001 $ 3,829,525 $ 2,549,065 $ 192,360 $ 2,741,425 Commercial real estate: Commercial real estate 9,109,645 2,804,185 11,913,830 8,561,851 934,926 9,496,777 Construction 996,702 380,030 1,376,732 809,964 41,141 851,105 Total commercial real estate loans 10,106,347 3,184,215 13,290,562 9,371,815 976,067 10,347,882 Residential mortgage 3,051,429 477,253 3,528,682 2,717,744 141,291 2,859,035 Consumer: Home equity 358,043 162,806 520,849 373,631 72,649 446,280 Automobile 1,281,303 432 1,281,735 1,208,804 98 1,208,902 Other consumer 768,369 14,994 783,363 723,306 4,750 728,056 Total consumer loans 2,407,715 178,232 2,585,947 2,305,741 77,497 2,383,238 Total loans $ 18,587,015 $ 4,647,701 $ 23,234,716 $ 16,944,365 $ 1,387,215 $ 18,331,580 * PCI loans include covered loans (mostly consisting of residential mortgage loans) totaling $31.1 million and $38.7 million at June 30, 2018 and December 31, 2017 , respectively. Total loans (excluding PCI covered loans) include net unearned premiums and deferred loan costs of $18.7 million and $22.2 million at June 30, 2018 and December 31, 2017 , respectively. The outstanding balances (representing contractual balances owed to Valley) for PCI loans totaled $4.9 billion and $1.5 billion at June 30, 2018 and December 31, 2017 , respectively. Valley transferred $263.3 million of residential mortgage loans from the loan portfolio to loans held for sale during the six months ended June 30, 2018 as compared to $225.5 million of loans transferred during the six months ended June 30, 2017 . There were no other sales of loans from the held for investment portfolio during the six months ended June 30, 2018 and 2017 . 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. The following table presents information regarding the estimates of the contractually required payments, the cash flows expected to be collected, and the estimated fair value of the PCI loans acquired in the USAB acquisition as of January 1, 2018 (See Note 2 for more details): (in thousands) Contractually required principal and interest $ 4,312,988 Contractual cash flows not expected to be collected (non-accretable difference) (94,098 ) Expected cash flows to be collected 4,218,890 Interest component of expected cash flows (accretable yield) (474,208 ) Fair value of acquired loans $ 3,744,682 The following table presents changes in the accretable yield for PCI loans during the three and six months ended June 30, 2018 and 2017 : Three Months Ended Six Months Ended 2018 2017 2018 2017 (in thousands) Balance, beginning of period $ 691,086 $ 269,831 $ 282,009 $ 294,514 Acquisition — — 474,208 — Accretion (60,536 ) (23,553 ) (125,667 ) (48,236 ) Balance, end of period $ 630,550 $ 246,278 $ 630,550 $ 246,278 Credit Risk Management For all of its loan types, 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, internal loan classification, 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. Credit Quality The following table presents past due, non-accrual and current loans (excluding PCI loans, which are accounted for on a pool basis) by loan portfolio class at June 30, 2018 and December 31, 2017 : 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) June 30, 2018 Commercial and industrial $ 6,780 $ 1,533 $ 560 $ 53,596 $ 62,469 $ 2,959,055 $ 3,021,524 Commercial real estate: Commercial real estate 4,323 — 27 7,452 11,802 9,097,843 9,109,645 Construction 175 — — 1,100 1,275 995,427 996,702 Total commercial real estate loans 4,498 — 27 8,552 13,077 10,093,270 10,106,347 Residential mortgage 7,961 1,978 2,324 19,303 31,566 3,019,863 3,051,429 Consumer loans: Home equity 686 278 — 2,804 3,768 354,275 358,043 Automobile 5,482 545 164 80 6,271 1,275,032 1,281,303 Other consumer 405 37 34 119 595 767,774 768,369 Total consumer loans 6,573 860 198 3,003 10,634 2,397,081 2,407,715 Total $ 25,812 $ 4,371 $ 3,109 $ 84,454 $ 117,746 $ 18,469,269 $ 18,587,015 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 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 restructuring, 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 June 30, 2018 and December 31, 2017 : Recorded Investment With No Related Allowance Recorded Investment With Related Allowance Total Recorded Investment Unpaid Contractual Principal Balance Related Allowance (in thousands) June 30, 2018 Commercial and industrial $ 10,241 $ 76,929 $ 87,170 $ 92,073 $ 24,817 Commercial real estate: Commercial real estate 22,751 29,705 52,456 56,365 2,972 Construction 1,800 463 2,263 2,263 15 Total commercial real estate loans 24,551 30,168 54,719 58,628 2,987 Residential mortgage 6,226 6,623 12,849 13,838 632 Consumer loans: Home equity 838 615 1,453 2,115 72 Total consumer loans 838 615 1,453 2,115 72 Total $ 41,856 $ 114,335 $ 156,191 $ 166,654 $ 28,508 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 The following tables present by loan portfolio class, the average recorded investment and interest income recognized on impaired loans for the three and six months ended June 30, 2018 and 2017 : Three Months Ended June 30, 2018 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) Commercial and industrial $ 87,674 $ 212 $ 46,283 $ 288 Commercial real estate: Commercial real estate 52,729 563 60,119 483 Construction 2,244 16 2,759 20 Total commercial real estate loans 54,973 579 62,878 503 Residential mortgage 12,914 185 17,555 184 Consumer loans: Home equity 1,794 33 4,799 34 Total consumer loans 1,794 33 4,799 34 Total $ 157,355 $ 1,009 $ 131,515 $ 1,009 Six Months Ended June 30, 2018 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) Commercial and industrial $ 88,865 $ 926 $ 38,371 $ 596 Commercial real estate: Commercial real estate 54,104 1,179 57,722 808 Construction 2,230 39 2,728 39 Total commercial real estate loans 56,334 1,218 60,450 847 Residential mortgage 13,502 350 18,974 392 Consumer loans: Home equity 1,910 66 4,847 74 Total consumer loans 1,910 66 4,847 74 Total $ 160,611 $ 2,560 $ 122,642 $ 1,909 Interest income recognized on a cash basis (included in the table above) was immaterial for the three and six months ended June 30, 2018 and 2017 . 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 $83.7 million and $117.2 million as of June 30, 2018 and December 31, 2017 , respectively. Non-performing TDRs totaled $54.1 million and $27.0 million as of June 30, 2018 and December 31, 2017 , respectively. The following tables present loans by loan portfolio class modified as TDRs during the three and six months ended June 30, 2018 and 2017 . The pre-modification and post-modification outstanding recorded investments disclosed in the tables below represent the loan carrying amounts immediately prior to the modification and the carrying amounts at June 30, 2018 and 2017 , respectively. Three Months Ended June 30, 2018 2017 Troubled Debt Restructurings Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment ($ in thousands) Commercial and industrial 11 $ 8,822 $ 8,575 47 $ 40,077 $ 38,367 Commercial real estate: Commercial real estate 5 3,975 3,971 5 23,604 23,604 Construction 1 532 491 — — — Total commercial real estate 6 4,507 4,462 5 23,604 23,604 Residential mortgage 2 393 389 2 549 545 Total 19 $ 13,722 $ 13,426 54 $ 64,230 $ 62,516 Six Months Ended June 30, 2018 2017 Troubled Debt Restructurings Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment ($ in thousands) Commercial and industrial 15 $ 10,554 $ 10,170 53 $ 46,315 $ 43,660 Commercial real estate: Commercial real estate 6 4,170 4,164 6 23,782 23,777 Construction 2 564 503 1 560 480 Total commercial real estate 8 4,734 4,667 7 24,342 24,257 Residential mortgage 5 980 963 5 1,170 1,167 Consumer 1 88 85 — — — Total 29 $ 16,356 $ 15,885 65 $ 71,827 $ 69,084 The total TDRs presented in the above table had allocated specific reserves for loan losses of approximately $5.3 million for both June 30, 2018 and 2017 . These specific reserves are included in the allowance for loan losses for loans individually evaluated for impairment disclosed in the "Impaired Loans" section above. There were no charge-offs related to TDR modifications during the three and six months ended June 30, 2018 and 2017 , respectively. The non-PCI loans modified as TDRs within the previous 12 months and for which there was a payment default ( 90 or more days past due) for the three and six months ended June 30, 2018 and 2017 were as follows: Three Months Ended June 30, 2018 2017 Troubled Debt Restructurings Subsequently Defaulted Number of Contracts Recorded Investment Number of Contracts Recorded Investment ($ in thousands) Commercial and industrial 4 $ 3,212 6 $ 5,358 Total 4 $ 3,212 6 $ 5,358 Six Months Ended June 30, 2018 2017 Troubled Debt Restructurings Subsequently Defaulted Number of Contracts Recorded Investment Number of Contracts Recorded Investment ($ in thousands) Commercial and industrial 4 $ 3,212 7 $ 5,433 Commercial real estate — — 1 736 Residential mortgage — — 1 153 Total 4 $ 3,212 9 $ 6,322 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) at June 30, 2018 and December 31, 2017 based on the most recent analysis performed: Credit exposure - by internally assigned risk rating Pass Special Mention Substandard Doubtful Total Non-PCI Loans (in thousands) June 30, 2018 Commercial and industrial $ 2,853,692 $ 62,369 $ 56,095 $ 49,368 $ 3,021,524 Commercial real estate 9,019,309 35,200 55,136 — 9,109,645 Construction 994,407 523 1,772 — 996,702 Total $ 12,867,408 $ 98,092 $ 113,003 $ 49,368 $ 13,127,871 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 At June 30, 2018 and December 31, 2017 , the commercial and industrial loans with doubtful risk ratings in the above table mostly consisted of non-accrual taxi medallion loans. 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 June 30, 2018 and December 31, 2017 : Credit exposure - by payment activity Performing Loans Non-Performing Loans Total Non-PCI Loans (in thousands) June 30, 2018 Residential mortgage $ 3,032,126 $ 19,303 $ 3,051,429 Home equity 355,239 2,804 358,043 Automobile 1,281,223 80 1,281,303 Other consumer 768,250 119 768,369 Total $ 5,436,838 $ 22,306 $ 5,459,144 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 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 June 30, 2018 and December 31, 2017 : Credit exposure - by payment activity Performing Loans Non-Performing Loans Total PCI Loans (in thousands) June 30, 2018 Commercial and industrial $ 776,200 $ 31,801 $ 808,001 Commercial real estate 2,785,190 18,995 2,804,185 Construction 378,495 1,535 380,030 Residential mortgage 470,447 6,806 477,253 Consumer 174,411 3,821 178,232 Total $ 4,584,743 $ 62,958 $ 4,647,701 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 Other real estate owned (OREO) totaled $11.8 million and $9.8 million at June 30, 2018 and December 31, 2017 , respectively. OREO included foreclosed residential real estate properties totaling $8.1 million and $7.3 million at June 30, 2018 and December 31, 2017 , respectively. Residential mortgage and consumer loans secured by residential real estate properties for which formal foreclosure proceedings are in process totaled $1.8 million and $3.8 million at June 30, 2018 and December 31, 2017 , respectively.

Allowance for Credit Losses

Allowance for Credit Losses	6 Months Ended
	Jun. 30, 2018
Receivables [Abstract]
Allowance for Credit Losses	Allowance for Credit Losses 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 June 30, 2018 and December 31, 2017 . The following table summarizes the allowance for credit losses at June 30, 2018 and December 31, 2017 : June 30, December 31, (in thousands) Components of allowance for credit losses: Allowance for loan losses $ 138,762 $ 120,856 Allowance for unfunded letters of credit 4,392 3,596 Total allowance for credit losses $ 143,154 $ 124,452 The following table summarizes the provision for credit losses for the periods indicated: Three Months Ended Six Months Ended 2018 2017 2018 2017 (in thousands) Components of provision for credit losses: Provision for loan losses $ 6,592 $ 3,710 $ 17,294 $ 6,112 Provision for unfunded letters of credit 550 (78 ) 796 (10 ) Total provision for credit losses $ 7,142 $ 3,632 $ 18,090 $ 6,102 The following table details activity in the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2018 and 2017 : Commercial and Industrial Commercial Real Estate Residential Mortgage Consumer Total (in thousands) Three Months Ended Allowance for loan losses: Beginning balance $ 66,546 $ 56,679 $ 4,100 $ 5,537 $ 132,862 Loans charged-off (642 ) (38 ) (99 ) (1,422 ) (2,201 ) Charged-off loans recovered 819 15 180 495 1,509 Net recoveries (charge-offs) 177 (23 ) 81 (927 ) (692 ) Provision for loan losses 7,534 (2,844 ) 443 1,459 6,592 Ending balance $ 74,257 $ 53,812 $ 4,624 $ 6,069 $ 138,762 Three Months Ended Allowance for loan losses: Beginning balance $ 51,288 $ 56,302 $ 3,592 $ 4,261 $ 115,443 Loans charged-off (2,910 ) (139 ) (229 ) (1,011 ) (4,289 ) Charged-off loans recovered 312 640 235 395 1,582 Net (charge-offs) recoveries (2,598 ) 501 6 (616 ) (2,707 ) Provision for loan losses 2,927 (1,348 ) 588 1,543 3,710 Ending balance $ 51,617 $ 55,455 $ 4,186 $ 5,188 $ 116,446 Commercial and Industrial Commercial Real Estate Residential Mortgage Consumer Total (in thousands) Six Months Ended Allowance for loan losses: Beginning balance $ 57,232 $ 54,954 $ 3,605 $ 5,065 $ 120,856 Loans charged-off (773 ) (348 ) (167 ) (2,633 ) (3,921 ) Charged-off loans recovered 2,926 384 260 963 4,533 Net recoveries (charge-offs) 2,153 36 93 (1,670 ) 612 Provision for loan losses 14,872 (1,178 ) 926 2,674 17,294 Ending balance $ 74,257 $ 53,812 $ 4,624 $ 6,069 $ 138,762 Six Months Ended Allowance for loan losses: Beginning balance $ 50,820 $ 55,851 $ 3,702 $ 4,046 $ 114,419 Loans charged-off (4,624 ) (553 ) (359 ) (2,132 ) (7,668 ) Charged-off loans recovered 1,160 782 683 958 3,583 Net (charge-offs) recoveries (3,464 ) 229 324 (1,174 ) (4,085 ) Provision for loan losses 4,261 (625 ) 160 2,316 6,112 Ending balance $ 51,617 $ 55,455 $ 4,186 $ 5,188 $ 116,446 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 at June 30, 2018 and December 31, 2017 . 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) June 30, 2018 Allowance for loan losses: Individually evaluated for impairment $ 24,817 $ 2,987 $ 632 $ 72 $ 28,508 Collectively evaluated for impairment 49,440 50,825 3,992 5,997 110,254 Total $ 74,257 $ 53,812 $ 4,624 $ 6,069 $ 138,762 Loans: Individually evaluated for impairment $ 87,170 $ 54,719 $ 12,849 $ 1,453 $ 156,191 Collectively evaluated for impairment 2,934,354 10,051,628 3,038,580 2,406,262 18,430,824 Loans acquired with discounts related to credit quality 808,001 3,184,215 477,253 178,232 4,647,701 Total $ 3,829,525 $ 13,290,562 $ 3,528,682 $ 2,585,947 $ 23,234,716 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

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets 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, 2017 $ 21,218 $ 200,103 $ 316,258 $ 153,058 $ 690,637 Goodwill from business combinations — 85,649 238,052 64,554 388,255 Balance at June 30, 2018 $ 21,218 $ 285,752 $ 554,310 $ 217,612 $ 1,078,892 * Wealth Management is comprised of trust, asset management and insurance services. This reporting unit is included in the Consumer Lending segment for financial reporting purposes. During the six months ended June 30, 2018 , goodwill from business combinations set forth in the table above relates to the acquisition of USAB (see Note 2 for further details). Certain estimates for acquired assets and assumed liabilities are subject to change for up to one year after the acquisition date. There was no impairment of goodwill during three and six months ended June 30, 2018 and 2017 . The following table summarizes other intangible assets as of June 30, 2018 and December 31, 2017 : Gross Intangible Assets Accumulated Amortization Valuation Allowance Net Intangible Assets (in thousands) June 30, 2018 Loan servicing rights $ 84,956 $ (59,975 ) $ (154 ) $ 24,827 Core deposits 80,470 (23,002 ) — 57,468 Other 3,945 (2,274 ) — 1,671 Total other intangible assets $ 169,371 $ (85,251 ) $ (154 ) $ 83,966 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 Loan servicing rights 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. Impairment charges on loan servicing rights are recognized in earnings when the book value of a stratified group of loan servicing rights exceeds its estimated fair value. See the "Assets and Liabilities Measured at Fair Value on a Non-recurring Basis" section of Note 6 for additional information regarding the fair valuation and impairment of loan servicing rights. Core deposits are amortized using an accelerated method and have a weighted average amortization period of 10 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 approximately 20 years . On January 1, 2018, Valley recorded approximately $44.6 million and $1.4 million of core deposit intangibles and loan servicing rights, respectively, resulting from the USAB acquisition. Valley evaluates core deposits and other intangibles for impairment when an indication of impairment exists. No impairment was recognized during the three and six months ended June 30, 2018 and 2017 . The following table presents the estimated future amortization expense of other intangible assets for the remainder of 2018 through 2022 : Loan Servicing Rights Core Deposits Other (in thousands) 2018 $ 3,155 $ 6,134 $ 125 2019 5,148 10,961 235 2020 4,160 9,607 220 2021 3,243 8,252 206 2022 2,608 6,898 191 Valley recognized amortization expense on other intangible assets, including net impairment (or recovery of impairment) charges on loan servicing rights, totaling approximately $ 4.6 million and $ 2.6 million for the three months ended June 30, 2018 and 2017 , respectively, and $8.9 million and $5.1 million for the six months ended June 30, 2018 and 2017 , respectively.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock–Based Compensation Valley currently has one active employee stock 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 purpose of the 2016 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 June 30, 2018 , 5.5 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. In connection with the USAB acquisition on January 1, 2018, Valley assumed pre-existing stock awards consisting of options for 1.8 million shares of Valley common stock (of which options for 936 thousand shares remained outstanding as of June 30, 2018 ) at a weighted average exercise price of $5.49 and 336 thousand time-based RSUs (of which 179 thousand remained outstanding as of June 30, 2018 ). The stock plan under which the stock awards were issued is no longer active. 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. Valley awarded time-based restricted stock totaling 1.2 million shares and 482 thousand shares during the six months ended June 30, 2018 and 2017 , respectively, to both executive officers and key employees of Valley. The majority of the awards have vesting periods of three years. Generally, the restrictions on such awards lapse at an annual rate of one-third of the total award commencing with the first anniversary of the date of grant. The average grant date fair value of the restricted stock awards granted during the six months ended June 30, 2018 and 2017 was $11.86 per share and $11.71 per share, respectively. Restricted Stock Units (RSUs). Valley granted 446 thousand and 371 thousand shares of performance-based RSUs to certain executive officers for the six months ended June 30, 2018 and 2017 , respectively. The performance-based RSUs will vest and be issued as common stock based on the attainment of (i) growth in tangible book value per share plus dividends ( 75 percent of the RSU award) and (ii) total shareholder return as compared to our peer group ( 25 percent of the RSU award). 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 stock) over the applicable performance period. Dividend equivalents 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 granted during the six months ended June 30, 2018 and 2017 was $12.35 per share and $11.05 per share, respectively. Valley recorded total stock-based compensation expense of $4.2 million and $2.7 million for the three months ended June 30, 2018 and 2017 , and $12.2 million and $6.9 million for the six months ended June 30, 2018 and 2017 , respectively. The fair values of stock awards are expensed over the shorter of the vesting or required service period. As of June 30, 2018 , the unrecognized amortization expense for all stock-based employee compensation totaled approximately $24.3 million and will be recognized over an average remaining vesting period of 2.3 years .

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition On January 1, 2018, Valley adopted ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)" and subsequent related updates that modify the guidance used to recognize revenue from contracts with customers for transfers of goods and services and transfers of non-financial assets, unless those contracts are within the scope of other guidance. The adoption did not materially change Valley's recognition of revenues within the scope of ASC Topic 606. Performance obligations. Valley's revenue contracts generally have a single performance obligation, as the promise to transfer the individual goods or services is not separately identifiable, or distinct from other obligations within the contracts. Valley does not have a material amount of long-term customer agreements that include multiple performance obligations requiring price allocation and differences in the timing of revenue recognition. Valley has no customer contracts with variable fee agreements based upon performance. The following table presents non-interest income for the three and six months ended June 30, 2018 and 2017 : Three Months Ended Six Months Ended 2018 2017 2018 2017 (in thousands) Trust and investment services $ 3,262 $ 2,800 $ 6,492 $ 5,544 Insurance commissions 4,026 4,358 7,847 9,419 Service charges on deposit accounts 6,679 5,342 13,932 10,578 (Losses) gains on securities transactions, net (36 ) 22 (801 ) (1 ) Fees from loan servicing 2,045 1,831 4,268 3,646 Gains on sales of loans, net 7,642 4,791 14,395 8,919 Bank owned life insurance 2,652 1,701 4,415 4,164 Other 11,799 7,985 19,772 12,281 Total non-interest income $ 38,069 $ 28,830 $ 70,320 $ 54,550 The following revenues from the table above are within the scope of ASC Topic 606: Trust and investments services. Trust and investments services include fees from investment management, investment advisory, trust, custody and other products. Trust and investment management fee income is primarily from client assets under management (AUM) for which the fees are determined based upon a tiered scale relative to the market value of the AUM. The revenue from trust and investment services is typically earned over the service period specified in the contract. Service charges on deposit accounts. Service charges on deposit accounts include fees from checking accounts, savings accounts, overdrafts, insufficient funds, ATM transactions and other activities. The revenues for most deposit related fees are recognized immediately upon performance of the service due to the short-term nature of the contractual terms. Other income. Other income within the scope of ASC Topic 606 within this revenue category includes fee income related to derivative interest rate swaps executed with commercial loan customers, and fees from interchange, wire transfers, credit cards, safe deposit box, ACH, lockbox and various other products and services-related income. These fees are either recognized immediately at the related transaction date or over the period in which the related service is provided. Other income also consists of items which are outside the scope of ASC Topic 606, including letters of credit fees, net gains and losses on sales of assets and income or expense related to certain changes in FDIC loss-share receivables.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities 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. 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, respectively. 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. Valley terminated an interest rate cap with a notional amount of $125 million in May 2018. The terminated swap, originally maturing in September 2023, was used to hedge the change in cash flows associated with prime rate indexed deposits, consisting of consumer and commercial money market accounts, which variable rates are indexed to the prime rate. 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. 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. Valley sometimes enters into risk participation agreements with external lenders where the banks are sharing their risk of default on the interest rate swaps on participated loans. Valley either pays or receives 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 June 30, 2018 , Valley had 13 credit swaps with an aggregate notional amount of $73.4 million related to risk participation agreements. At June 30, 2018 , Valley has one "steepener" swap with a total current notional amount of $14.3 million where the receive rate on the swap mirrors the pay rate on the brokered deposits and the rates 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 the 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: June 30, 2018 December 31, 2017 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 swaps and caps $ — $ 32 $ 482,000 $ 650 $ 81 $ 607,000 Fair value hedge interest rate swaps — 419 7,657 — 637 7,775 Total derivatives designated as hedging instruments $ — $ 451 $ 489,657 $ 650 $ 718 $ 614,775 Derivatives not designated as hedging instruments: Interest rate swaps and embedded derivatives $ 29,834 $ 37,135 $ 2,996,861 $ 25,696 $ 23,494 $ 1,687,005 Mortgage banking derivatives 298 316 126,994 71 118 113,233 Total derivatives not designated as hedging instruments $ 30,132 $ 37,451 $ 3,123,855 $ 25,767 $ 23,612 $ 1,800,238 The Chicago Mercantile Exchange (CME) and London Clearing House (LCH) have enacted rulebook changes that re-characterize variation margin as settlements of the outstanding derivative instead of cash collateral. The CME and LCH variation margins are classified as a single-unit of account with the fair value of certain cash flow and non-designated derivative instruments on a prospective basis effective January 1, 2017 for derivatives outstanding with the CME and January 1, 2018 for derivatives outstanding with the LCH. As a result, the fair value of the designated cash flow derivative assets, designated and non-designated interest rate swaps liabilities were offset by variation margins posted by (with) the applicable counterparties totaling $15.9 million , $796 thousand and $8.2 million , respectively, and reported in the table above on a net basis at June 30, 2018 . 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. (Losses) gains included in the consolidated statements of income and in other comprehensive (loss) income, on a pre-tax basis, related to interest rate derivatives designated as hedges of cash flows were as follows: Three Months Ended Six Months Ended 2018 2017 2018 2017 (in thousands) Amount of loss reclassified from accumulated other comprehensive loss to interest expense $ (866 ) $ (2,314 ) $ (2,317 ) $ (4,832 ) Amount of gain recognized in other comprehensive (loss) income 637 (1,482 ) 3,388 (1,265 ) The accumulated net after-tax losses related to effective cash flow hedges included in accumulated other comprehensive loss were $4.3 million and $8.3 million at June 30, 2018 and December 31, 2017 , 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 $1.7 million will be reclassified as an increase to interest expense over the next 12 months. Gains (losses) included in the consolidated statements of income related to interest rate derivatives designated as hedges of fair value were as follows: Three Months Ended Six Months Ended 2018 2017 2018 2017 (in thousands) Derivative - interest rate swaps: Interest income $ 88 $ 52 $ 219 $ 149 Hedged item - loans: Interest income $ (88 ) $ (52 ) $ (219 ) $ (149 ) Fee income related to derivative interest rate swaps executed with commercial loan customers totaled $4.4 million and $4.1 million for the three months ended June 30, 2018 and 2017 , respectively, and $7.7 million and $4.8 million for the six months ended June 30, 2018 and 2017 , respectively, and was included in other non-interest income. The following table presents the hedged items related to interest rate derivatives designated as hedges of fair value and the cumulative basis fair value adjustment included in the net carrying amount of the hedged items at June 30, 2018 : June 30, 2018 Line Item in the Statement of Financial Position in Which the Hedged Item is Included Carrying Amount of the Hedged Asset Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Asset (in thousands) Loans $ 8,076 $ 419 The net gains (losses) included in the consolidated statements of income related to derivative instruments not designated as hedging instruments were as follows: Three Months Ended Six Months Ended 2018 2017 2018 2017 (in thousands) Non-designated hedge interest rate derivatives Other non-interest expense $ 230 $ 70 $ 448 $ (790 ) Credit Risk Related Contingent 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 June 30, 2018 , Valley was in compliance with all of the provisions of its derivative counterparty agreements. As of June 30, 2018 , 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 $2.1 million . Valley has derivative counterparty agreements that require minimum collateral posting thresholds for certain counterparties. The aggregate fair value of collateral Valley posted with counterparties related to derivative contracts totaled $4.4 million at June 30, 2018 .

Balance Sheet Offsetting

Balance Sheet Offsetting	6 Months Ended
	Jun. 30, 2018
Offsetting [Abstract]
Balance Sheet Offsetting	Balance Sheet Offsetting Certain financial instruments, including derivatives (consisting of interest rate swaps and caps) 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 June 30, 2018 and December 31, 2017 . Gross Amounts Not Offset Gross Amounts Recognized Gross Amounts Offset Net Amounts Presented Financial Instruments Cash Collateral Net Amount (in thousands) June 30, 2018 Assets: Interest rate swaps $ 29,834 $ — $ 29,834 $ (336 ) $ — $ 29,498 Liabilities: Interest rate swaps $ 37,586 $ — $ 37,586 $ (336 ) $ (1,645 ) (1) $ 35,605 Repurchase agreements 150,000 — 150,000 — (150,000 ) (2) — Total $ 187,586 $ — $ 187,586 $ (336 ) $ (151,645 ) $ 35,605 December 31, 2017 Assets: Interest rate swaps and caps $ 26,346 $ — $ 26,346 $ (5,376 ) $ — $ 20,970 Liabilities: Interest rate swaps and caps $ 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 (1) Represents the amount of collateral posted with derivative counterparties that offsets net liability positions. (2) Represents the fair value of non-cash pledged investment securities.

Tax Credit Investments

Tax Credit Investments	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Tax Credit Investments	Tax Credit Investments 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 (CRA). 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 June 30, 2018 and December 31, 2017 . June 30, December 31, (in thousands) Other Assets: Affordable housing tax credit investments, net $ 40,226 $ 22,135 Other tax credit investments, net 31,129 42,015 Total tax credit investments, net $ 71,355 $ 64,150 Other Liabilities: Unfunded affordable housing tax credit commitments $ 4,978 $ 3,690 Unfunded other tax credit commitments 4,773 15,020 Total unfunded tax credit commitments $ 9,751 $ 18,710 The following table presents other information relating to Valley’s affordable housing tax credit investments and other tax credit investments for the three and six months ended June 30, 2018 and 2017 : Three Months Ended Six Months Ended 2018 2017 2018 2017 (in thousands) Components of Income Tax Expense: Affordable housing tax credits and other tax benefits $ 1,429 $ 1,271 $ 3,250 $ 2,555 Other tax credit investment credits and tax benefits 5,680 8,680 11,165 14,966 Total reduction in income tax expense $ 7,109 $ 9,951 $ 14,415 $ 17,521 Amortization of Tax Credit Investments: Affordable housing tax credit investment losses $ (319 ) $ 358 $ 667 $ 754 Affordable housing tax credit investment impairment losses 515 130 1,102 254 Other tax credit investment losses 1,253 1,060 1,790 1,827 Other tax credit investment impairment losses 3,021 6,184 6,185 10,221 Total amortization of tax credit investments recorded in non-interest expense $ 4,470 $ 7,732 $ 9,744 $ 13,056

Litigation

Litigation	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Litigation	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 reasonably be made. 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. Maritza Gaston and George Gallart v. Valley National Bancorp and Valley National Bank. In April 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 seeking to recover overtime compensation on behalf of a class of Valley employees. While most Branch Service Managers are classified by Valley as “exempt” employees and do not receive overtime pay, plaintiffs' counsel claims that all Branch Service Managers perform non-exempt duties, and should therefore be classified as non-exempt hourly employees and be paid overtime for any time worked in excess of 40 hours per week. Valley filed an answer disputing Plaintiffs’ allegations. Plaintiffs filed a notice for conditional certification of the class, which was granted by the Federal Magistrate in December 2017. In January 2018, Valley filed an objection 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. Plaintiffs and Valley have agreed to enter into non-binding mediation. A mediation session was held in June 2018 and another session is anticipated to occur in late August or early September 2018. At June 30, 2018, Valley was unable to estimate an amount or range of reasonably possible loss.

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Business Segments	Business Segments The information under the caption “Business Segments” in Management’s Discussion and Analysis of Financial Condition and Results of Operations is incorporated herein by reference.

New Authoritative Accounting 24

New Authoritative Accounting Guidance (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Changes and Error Corrections [Abstract]
New Authoritative Accounting Guidance	New Authoritative Accounting Guidance New Accounting Guidance Adopted in 2018 Accounting Standards Update (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. 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 required a modified retrospective method to be used by Valley and resulted in an immaterial cumulative-effect adjustment to retained earnings as of January 1, 2018 to eliminate the separate measurement of ineffectiveness from accumulated comprehensive income (see Note 4). 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 was effective for Valley for its annual and interim reporting periods beginning January 1, 2018. ASU No. 2017-07 did 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. ASU No. 2016-16 eliminates the exception for intercompany sales of assets. ASU No. 2016-16 was effective for Valley on January 1, 2018 and it was applied using the modified retrospective method. As a result, Valley recorded a $15.4 million cumulative effect adjustment that reduced retained earnings effective January 1, 2018 to record net deferred tax liabilities related to pre-existing transactions. ASU No. 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments" clarifies how certain cash receipts and cash payments should be classified and presented in the statement of cash flows. ASU No. 2016-15 includes guidance on eight specific cash flow issues with the objective of reducing the existing diversity of practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. ASU No. 2016-15 was effective for Valley for annual and interim reporting periods beginning January 1, 2018 and it was applied using a retrospective transition method to each period presented. ASU No. 2016-15 did 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 caused by a change in instrument-specific credit risk in other comprehensive income, (iv) entities must assess whether a valuation allowance is required for deferred tax assets related to available-for-sale debt securities, and (v) entities are required to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. ASU No. 2016-01 also eliminates the requirement for public business entities to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet (see Note 6). ASU No. 2016-01 was effective for Valley for reporting periods beginning January 1, 2018 and did 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 modify 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 did not identify material changes related to the timing or amount of revenue recognition. Therefore, Valley did not record 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 herein and consistent with the Annual Report on Form 10-K for the year ended December 31, 2017 ) that are within the scope of the new guidance is not necessary. Qualitative disclosures regarding such revenues, as required by the new guidance, are presented in Note 12. 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 the 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. 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. 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’s implementation effort is managed through several cross-functional working groups. These groups continue to evaluate the requirements of the new standard, assess its impact on current operational processes, and develop loss models that accurately project lifetime expected loss estimates. Valley expects that the adoption of ASU No. 2016-13 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 8) 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)” and subsequent related updates require 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 early adoption permitted. Valley expects to initially apply Topic 842 at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings as of January 1, 2019 under the new optional transition method provided by ASU No. 2018-11, "Leases (Topic 842): Targeted Improvements". The comparative prior periods reported in the financial statements in the period of adoption will continue to be presented in accordance with current GAAP in Topic 840. In addition, the amendments in ASU No. 2018-11 provide lessors with a practical expedient, by class of underlying asset, to not separate non-lease components from the associated lease component. Those components can be accounted for as a single component if the non-lease components would otherwise be accounted for under the new revenue guidance (Topic 606) when certain criteria are met. Overall, management continues to evaluate the impact of Topic 842 on Valley’s consolidated financial statements and presently evaluating all of its known leases for compliance with the new lease accounting guidance. Management has completed an initial review of Valley's contractual arrangements for embedded leases, and is currently validating the results of this review and accumulating the lease data necessary to apply the new guidance. 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.

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Jun. 30, 2018
Business Combinations [Abstract]
Assets Acquired and Liabilities Assumed in Acquisition	The following table sets forth assets acquired and liabilities assumed in the USAB acquisition, at their estimated fair values as of the closing date of the transaction: January 1, 2018 (in thousands) Assets acquired: Cash and cash equivalents $ 156,612 Investment securities held to maturity 214,217 Investment securities available for sale 308,385 Loans 3,744,682 Premises and equipment 62,066 Bank owned life insurance 49,052 Accrued interest receivable 12,123 Goodwill 388,255 Other intangible assets 45,906 Other assets: Deferred taxes 8,698 Other real estate owned 4,073 FHLB and FRB stock 38,809 Tax credit investments 20,138 Other 26,416 Total other assets 98,134 Total assets acquired $ 5,079,432 Liabilities assumed: Deposits: Non-interest bearing $ 887,083 Savings, NOW and money market 1,678,115 Time 999,645 Total deposits 3,564,843 Short-term borrowings 649,979 Long-term borrowings 87,283 Junior subordinated debentures issued to capital trusts 13,249 Accrued expenses and other liabilities 26,848 Total liabilities assumed $ 4,342,202 Common stock issued in acquisition 737,230

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table shows the calculation of both basic and diluted earnings per common share for the three and six months ended June 30, 2018 and 2017 . Three Months Ended Six Months Ended 2018 2017 2018 2017 (in thousands, except for share data) Net income available to common shareholders $ 69,630 $ 48,268 $ 108,423 $ 92,566 Basic weighted average number of common shares outstanding 331,318,381 263,958,292 331,024,531 263,878,103 Plus: Common stock equivalents 1,577,102 819,950 1,575,460 784,760 Diluted weighted average number of common shares outstanding 332,895,483 264,778,242 332,599,991 264,662,863 Earnings per common share: Basic $ 0.21 $ 0.18 $ 0.33 $ 0.35 Diluted 0.21 0.18 0.33 0.35

Accumulated Other Comprehensi27

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
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 three and six months ended June 30, 2018 . Components of Accumulated Other Comprehensive Loss Total Accumulated Other Comprehensive Loss Unrealized Gains and Losses on Available for Sale (AFS) Securities Non-credit Impairment Losses on AFS Securities Unrealized Gains and (Losses) on Derivatives Defined Benefit Pension Plan (in thousands) Balance at March 31, 2018 $ (32,865 ) $ (664 ) $ (5,403 ) $ (25,171 ) $ (64,103 ) Other comprehensive (loss) income before reclassifications (6,461 ) 212 455 — (5,794 ) Amounts reclassified from other comprehensive (loss) income 30 12 619 112 773 Other comprehensive (loss) income, net (6,431 ) 224 1,074 112 (5,021 ) Balance at June 30, 2018 $ (39,296 ) $ (440 ) $ (4,329 ) $ (25,059 ) $ (69,124 ) Components of Accumulated Other Comprehensive Loss Total Accumulated Other Comprehensive Loss Unrealized Gains and Losses on Available for Sale (AFS) Securities Non-credit Impairment Losses on AFS Securities Unrealized Gains and (Losses) on Derivatives Defined Benefit Pension Plan (in thousands) Balance at December 31, 2017 $ (12,004 ) $ (380 ) $ (8,338 ) $ (25,283 ) $ (46,005 ) Reclassification due to the adoption of ASU No. 2016-01 (480 ) — — — (480 ) Reclassification due to the adoption of ASU No. 2017-12 — — (61 ) — (61 ) Balance at January 1, 2018 (12,484 ) (380 ) (8,399 ) (25,283 ) (46,546 ) Other comprehensive (loss) income before reclassification (27,390 ) (56 ) 2,415 — (25,031 ) Amounts reclassified from other comprehensive (loss) income 578 (4 ) 1,655 224 2,453 Other comprehensive (loss) income, net (26,812 ) (60 ) 4,070 224 (22,578 ) Balance at June 30, 2018 $ (39,296 ) $ (440 ) $ (4,329 ) $ (25,059 ) $ (69,124 )
Reclassification from Each Component of Accumulated Other Comprehensive Loss	The following table presents amounts reclassified from each component of accumulated other comprehensive loss on a gross and net of tax basis for the three and six months ended June 30, 2018 and 2017 . Amounts Reclassified from Accumulated Other Comprehensive Loss Three Months Ended Six Months Ended Components of Accumulated Other Comprehensive Loss 2018 2017 2018 2017 Income Statement Line Item (in thousands) Unrealized (losses) gains on AFS securities before tax $ (36 ) $ 22 $ (801 ) $ (1 ) (Losses) gains on securities transactions, net Tax effect 6 (9 ) 223 1 Total net of tax (30 ) 13 (578 ) — Non-credit impairment losses on AFS securities before tax: Accretion of credit loss impairment due to an increase in expected cash flows (16 ) 67 6 215 Interest and dividends on investment securities (taxable) Tax effect 4 (28 ) (2 ) (89 ) Total net of tax (12 ) 39 4 126 Unrealized losses on derivatives (cash flow hedges) before tax (866 ) (2,314 ) (2,317 ) (4,832 ) Interest expense Tax effect 247 958 662 2,001 Total net of tax (619 ) (1,356 ) (1,655 ) (2,831 ) Defined benefit pension plan: Amortization of net loss (157 ) (101 ) (314 ) (202 ) * Tax effect 45 42 90 84 Total net of tax (112 ) (59 ) (224 ) (118 ) Total reclassifications, net of tax $ (773 ) $ (1,363 ) $ (2,453 ) $ (2,823 ) * Amortization of net loss is included in the computation of net periodic pension cost recognized within other non-interest expense.

Fair Value Measurement of Ass28

Fair Value Measurement of Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring and Non-Recurring Basis	The following tables present the assets and liabilities that are measured at fair value on a recurring and nonrecurring basis by level within the fair value hierarchy as reported on the consolidated statements of financial condition at June 30, 2018 and December 31, 2017 . The assets presented under “nonrecurring fair value measurements” in the tables 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). June 30, Fair Value Measurements at Reporting Date Using: 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 $ 48,667 $ 48,667 $ — $ — U.S. government agency securities 38,006 — 38,006 — Obligations of states and political subdivisions 211,529 — 211,529 — Residential mortgage-backed securities 1,477,846 — 1,471,403 6,443 Trust preferred securities 2,279 — 2,279 — Corporate and other debt securities 55,140 7,629 47,511 — Total available for sale 1,833,467 56,296 1,770,728 6,443 Loans held for sale (1) 32,670 — 32,670 — Other assets (2) 30,132 — 30,132 — Total assets $ 1,896,269 $ 56,296 $ 1,833,530 $ 6,443 Liabilities Other liabilities (2) $ 37,902 $ — $ 37,902 $ — Total liabilities $ 37,902 $ — $ 37,902 $ — Non-recurring fair value measurements: Collateral dependent impaired loans (3) $ 36,957 $ — $ — $ 36,957 Loan servicing rights 2,212 — — 2,212 Foreclosed assets 1,239 — — 1,239 Total $ 40,408 $ — $ — $ 40,408 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 (1) Represents residential mortgage loans originated for sale that are carried at fair value and had contractual unpaid principal balances totaling approximately $32.1 million and $14.8 million at June 30, 2018 and December 31, 2017 , respectively. (2) Derivative financial instruments are included in this category. (3) Excludes PCI loans.
Changes in Level 3 Assets Measured at Fair Value on Recurring Basis	The changes in Level 3 assets measured at fair value on a recurring basis for the three and six months ended June 30, 2018 and 2017 are summarized below: Available for Sale Securities Three Months Ended Six Months Ended 2018 2017 2018 2017 (in thousands) Balance, beginning of the period $ 6,498 $ 11,367 $ 7,360 $ 11,888 Total net gains (losses) included in other comprehensive income 313 (31 ) (85 ) 13 Settlements, net (368 ) (606 ) (832 ) (1,171 ) Balance, end of the period $ 6,443 $ 10,730 $ 6,443 $ 10,730
Schedule of Quantitative Information about Level 3 Inputs Used to Measure Fair Value of Available for Sale Securities	The following table presents quantitative information about Level 3 inputs used to measure the fair value of these securities at June 30, 2018 : Security Type Valuation Technique Unobservable Input Range Weighted Average Private label mortgage-backed securities Discounted cash flow Prepayment rate 1.8 - 28.8% 13.0 % Default rate 3.1 - 47.4 8.9 Loss severity 45.4 - 62.0 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 June 30, 2018 and December 31, 2017 were as follows: Fair Value Hierarchy June 30, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value (in thousands) Financial assets Cash and due from banks Level 1 $ 307,428 $ 307,428 $ 243,310 $ 243,310 Interest bearing deposits with banks Level 1 164,838 164,838 172,800 172,800 Investment securities held to maturity: U.S. Treasury securities Level 1 138,598 141,605 138,676 145,257 U.S. government agency securities Level 2 9,447 9,280 9,859 9,981 Obligations of states and political subdivisions Level 2 615,651 616,786 465,878 477,479 Residential mortgage-backed securities Level 2 1,185,165 1,146,450 1,131,945 1,118,044 Trust preferred securities Level 2 49,833 43,334 49,824 40,088 Corporate and other debt securities Level 2 31,500 31,327 46,509 46,771 Total investment securities held to maturity 2,030,194 1,988,782 1,842,691 1,837,620 Net loans Level 3 23,095,954 22,752,737 18,210,724 17,562,153 Accrued interest receivable Level 1 88,155 88,155 73,990 73,990 Federal Reserve Bank and Federal Home Loan Bank stock (1) Level 1 291,705 291,705 178,668 178,668 Financial liabilities Deposits without stated maturities Level 1 16,987,360 16,987,360 14,589,941 14,589,941 Deposits with stated maturities Level 2 4,653,412 4,604,918 3,563,521 3,465,373 Short-term borrowings Level 1 2,877,912 2,580,009 748,628 679,316 Long-term borrowings Level 2 2,103,993 1,812,019 2,315,819 2,453,797 Junior subordinated debentures issued to capital trusts Level 2 55,196 48,918 41,774 37,289 Accrued interest payable (2) Level 1 18,608 18,608 14,161 14,161 (1) Included in other assets. (2) Included in accrued expenses and other liabilities.

Investment Securities (Tables)

Investment Securities (Tables)	6 Months Ended
	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Securities Held to Maturity	The amortized cost, gross unrealized gains and losses and fair value of securities held to maturity at June 30, 2018 and December 31, 2017 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) June 30, 2018 U.S. Treasury securities $ 138,598 $ 3,007 $ — $ 141,605 U.S. government agency securities 9,447 21 (188 ) 9,280 Obligations of states and political subdivisions: Obligations of states and state agencies 355,219 4,940 (5,862 ) 354,297 Municipal bonds 260,432 3,634 (1,577 ) 262,489 Total obligations of states and political subdivisions 615,651 8,574 (7,439 ) 616,786 Residential mortgage-backed securities 1,185,165 2,493 (41,208 ) 1,146,450 Trust preferred securities 49,833 78 (6,577 ) 43,334 Corporate and other debt securities 31,500 119 (292 ) 31,327 Total investment securities held to maturity $ 2,030,194 $ 14,292 $ (55,704 ) $ 1,988,782 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
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 June 30, 2018 and December 31, 2017 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) June 30, 2018 U.S. government agency securities $ 6,527 $ (188 ) $ — $ — $ 6,527 $ (188 ) Obligations of states and political subdivisions: Obligations of states and state agencies 125,371 (2,503 ) 46,899 (3,359 ) 172,270 (5,862 ) Municipal bonds 87,785 (1,546 ) 533 (31 ) 88,318 (1,577 ) Total obligations of states and political subdivisions 213,156 (4,049 ) 47,432 (3,390 ) 260,588 (7,439 ) Residential mortgage-backed securities 425,381 (12,139 ) 555,355 (29,069 ) 980,736 (41,208 ) Trust preferred securities — — 29,903 (6,577 ) 29,903 (6,577 ) Corporate and other debt securities 10,478 (22 ) 4,731 (270 ) 15,209 (292 ) Total $ 655,542 $ (16,398 ) $ 637,421 $ (39,306 ) $ 1,292,963 $ (55,704 ) 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 )
Contractual Maturities of Debt Securities Held to Maturity	The contractual maturities of investments in debt securities held to maturity at June 30, 2018 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. June 30, 2018 Amortized Cost Fair Value (in thousands) Due in one year $ 13,524 $ 13,580 Due after one year through five years 223,219 226,330 Due after five years through ten years 321,954 329,369 Due after ten years 286,332 273,053 Residential mortgage-backed securities 1,185,165 1,146,450 Total investment securities held to maturity $ 2,030,194 $ 1,988,782
Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Securities Available for Sale	The amortized cost, gross unrealized gains and losses and fair value of securities available for sale at June 30, 2018 and December 31, 2017 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) June 30, 2018 U.S. Treasury securities $ 50,986 $ — $ (2,319 ) $ 48,667 U.S. government agency securities 39,212 34 (1,240 ) 38,006 Obligations of states and political subdivisions: Obligations of states and state agencies 110,580 52 (2,636 ) 107,996 Municipal bonds 104,922 281 (1,670 ) 103,533 Total obligations of states and political subdivisions 215,502 333 (4,306 ) 211,529 Residential mortgage-backed securities 1,525,041 1,330 (48,525 ) 1,477,846 Trust preferred securities 2,583 — (304 ) 2,279 Corporate and other debt securities 55,629 219 (708 ) 55,140 Total investment securities available for sale $ 1,888,953 $ 1,916 $ (57,402 ) $ 1,833,467 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
Age of Unrealized Losses and Fair Value of Related Securities Available for Sale	The age of unrealized losses and fair value of related securities available for sale at June 30, 2018 and December 31, 2017 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) June 30, 2018 U.S. Treasury securities $ 901 $ (13 ) $ 47,766 $ (2,306 ) $ 48,667 $ (2,319 ) U.S. government agency securities 30,485 (1,240 ) — — 30,485 (1,240 ) Obligations of states and political subdivisions: Obligations of states and state agencies 96,617 (2,301 ) 8,041 (335 ) 104,658 (2,636 ) Municipal bonds 69,301 (1,251 ) 12,010 (419 ) 81,311 (1,670 ) Total obligations of states and political subdivisions 165,918 (3,552 ) 20,051 (754 ) 185,969 (4,306 ) Residential mortgage-backed securities 875,444 (21,543 ) 553,585 (26,982 ) 1,429,029 (48,525 ) Trust preferred securities — — 2,279 (304 ) 2,279 (304 ) Corporate and other debt securities 22,622 (460 ) 14,756 (248 ) 37,378 (708 ) Total $ 1,095,370 $ (26,808 ) $ 638,437 $ (30,594 ) $ 1,733,807 $ (57,402 ) 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 )
Contractual Maturities of Debt Securities Available for Sale	The contractual maturities of debt securities available for sale at June 30, 2018 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. June 30, 2018 Amortized Cost Fair Value (in thousands) Due in one year $ 18,801 $ 18,876 Due after one year through five years 127,790 124,100 Due after five years through ten years 80,582 79,923 Due after ten years 136,739 132,723 Residential mortgage-backed securities 1,525,041 1,477,845 Total investment securities available for sale $ 1,888,953 $ 1,833,467

Loans (Tables)

Loans (Tables)	6 Months Ended
	Jun. 30, 2018
Receivables [Abstract]
Schedule of Loan Portfolio	The detail of the loan portfolio as of June 30, 2018 and December 31, 2017 was as follows: June 30, 2018 December 31, 2017 Non-PCI Loans PCI Loans* Total Non-PCI Loans PCI Loans* Total (in thousands) Loans: Commercial and industrial $ 3,021,524 $ 808,001 $ 3,829,525 $ 2,549,065 $ 192,360 $ 2,741,425 Commercial real estate: Commercial real estate 9,109,645 2,804,185 11,913,830 8,561,851 934,926 9,496,777 Construction 996,702 380,030 1,376,732 809,964 41,141 851,105 Total commercial real estate loans 10,106,347 3,184,215 13,290,562 9,371,815 976,067 10,347,882 Residential mortgage 3,051,429 477,253 3,528,682 2,717,744 141,291 2,859,035 Consumer: Home equity 358,043 162,806 520,849 373,631 72,649 446,280 Automobile 1,281,303 432 1,281,735 1,208,804 98 1,208,902 Other consumer 768,369 14,994 783,363 723,306 4,750 728,056 Total consumer loans 2,407,715 178,232 2,585,947 2,305,741 77,497 2,383,238 Total loans $ 18,587,015 $ 4,647,701 $ 23,234,716 $ 16,944,365 $ 1,387,215 $ 18,331,580 * PCI loans include covered loans (mostly consisting of residential mortgage loans) totaling $31.1 million and $38.7 million at June 30, 2018 and December 31, 2017 , respectively.
Estimates of the Contractually Required Payments, the Cash Flows Expected to be Collected, and the Estimated Fair Value of Covered Loans in the Acquisition	The following table presents information regarding the estimates of the contractually required payments, the cash flows expected to be collected, and the estimated fair value of the PCI loans acquired in the USAB acquisition as of January 1, 2018 (See Note 2 for more details): (in thousands) Contractually required principal and interest $ 4,312,988 Contractual cash flows not expected to be collected (non-accretable difference) (94,098 ) Expected cash flows to be collected 4,218,890 Interest component of expected cash flows (accretable yield) (474,208 ) Fair value of acquired loans $ 3,744,682
Changes in Accretable Yield for PCI Loans	The following table presents changes in the accretable yield for PCI loans during the three and six months ended June 30, 2018 and 2017 : Three Months Ended Six Months Ended 2018 2017 2018 2017 (in thousands) Balance, beginning of period $ 691,086 $ 269,831 $ 282,009 $ 294,514 Acquisition — — 474,208 — Accretion (60,536 ) (23,553 ) (125,667 ) (48,236 ) Balance, end of period $ 630,550 $ 246,278 $ 630,550 $ 246,278
Past Due, Non-Accrual and Current Loans by Loan Portfolio Class	The following table presents past due, non-accrual and current loans (excluding PCI loans, which are accounted for on a pool basis) by loan portfolio class at June 30, 2018 and December 31, 2017 : 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) June 30, 2018 Commercial and industrial $ 6,780 $ 1,533 $ 560 $ 53,596 $ 62,469 $ 2,959,055 $ 3,021,524 Commercial real estate: Commercial real estate 4,323 — 27 7,452 11,802 9,097,843 9,109,645 Construction 175 — — 1,100 1,275 995,427 996,702 Total commercial real estate loans 4,498 — 27 8,552 13,077 10,093,270 10,106,347 Residential mortgage 7,961 1,978 2,324 19,303 31,566 3,019,863 3,051,429 Consumer loans: Home equity 686 278 — 2,804 3,768 354,275 358,043 Automobile 5,482 545 164 80 6,271 1,275,032 1,281,303 Other consumer 405 37 34 119 595 767,774 768,369 Total consumer loans 6,573 860 198 3,003 10,634 2,397,081 2,407,715 Total $ 25,812 $ 4,371 $ 3,109 $ 84,454 $ 117,746 $ 18,469,269 $ 18,587,015 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
Impaired Loans by Loan Portfolio Class	The following table presents the information about impaired loans by loan portfolio class at June 30, 2018 and December 31, 2017 : Recorded Investment With No Related Allowance Recorded Investment With Related Allowance Total Recorded Investment Unpaid Contractual Principal Balance Related Allowance (in thousands) June 30, 2018 Commercial and industrial $ 10,241 $ 76,929 $ 87,170 $ 92,073 $ 24,817 Commercial real estate: Commercial real estate 22,751 29,705 52,456 56,365 2,972 Construction 1,800 463 2,263 2,263 15 Total commercial real estate loans 24,551 30,168 54,719 58,628 2,987 Residential mortgage 6,226 6,623 12,849 13,838 632 Consumer loans: Home equity 838 615 1,453 2,115 72 Total consumer loans 838 615 1,453 2,115 72 Total $ 41,856 $ 114,335 $ 156,191 $ 166,654 $ 28,508 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
Average Recorded Investment and Interest Income Recognized on Impaired Loans	The following tables present by loan portfolio class, the average recorded investment and interest income recognized on impaired loans for the three and six months ended June 30, 2018 and 2017 : Three Months Ended June 30, 2018 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) Commercial and industrial $ 87,674 $ 212 $ 46,283 $ 288 Commercial real estate: Commercial real estate 52,729 563 60,119 483 Construction 2,244 16 2,759 20 Total commercial real estate loans 54,973 579 62,878 503 Residential mortgage 12,914 185 17,555 184 Consumer loans: Home equity 1,794 33 4,799 34 Total consumer loans 1,794 33 4,799 34 Total $ 157,355 $ 1,009 $ 131,515 $ 1,009 Six Months Ended June 30, 2018 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) Commercial and industrial $ 88,865 $ 926 $ 38,371 $ 596 Commercial real estate: Commercial real estate 54,104 1,179 57,722 808 Construction 2,230 39 2,728 39 Total commercial real estate loans 56,334 1,218 60,450 847 Residential mortgage 13,502 350 18,974 392 Consumer loans: Home equity 1,910 66 4,847 74 Total consumer loans 1,910 66 4,847 74 Total $ 160,611 $ 2,560 $ 122,642 $ 1,909
Pre-Modification and Post-Modification Outstanding Recorded Investments and Non-PCI Loans that Subsequently Defaulted	The following tables present loans by loan portfolio class modified as TDRs during the three and six months ended June 30, 2018 and 2017 . The pre-modification and post-modification outstanding recorded investments disclosed in the tables below represent the loan carrying amounts immediately prior to the modification and the carrying amounts at June 30, 2018 and 2017 , respectively. Three Months Ended June 30, 2018 2017 Troubled Debt Restructurings Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment ($ in thousands) Commercial and industrial 11 $ 8,822 $ 8,575 47 $ 40,077 $ 38,367 Commercial real estate: Commercial real estate 5 3,975 3,971 5 23,604 23,604 Construction 1 532 491 — — — Total commercial real estate 6 4,507 4,462 5 23,604 23,604 Residential mortgage 2 393 389 2 549 545 Total 19 $ 13,722 $ 13,426 54 $ 64,230 $ 62,516 Six Months Ended June 30, 2018 2017 Troubled Debt Restructurings Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment ($ in thousands) Commercial and industrial 15 $ 10,554 $ 10,170 53 $ 46,315 $ 43,660 Commercial real estate: Commercial real estate 6 4,170 4,164 6 23,782 23,777 Construction 2 564 503 1 560 480 Total commercial real estate 8 4,734 4,667 7 24,342 24,257 Residential mortgage 5 980 963 5 1,170 1,167 Consumer 1 88 85 — — — Total 29 $ 16,356 $ 15,885 65 $ 71,827 $ 69,084 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 three and six months ended June 30, 2018 and 2017 were as follows: Three Months Ended June 30, 2018 2017 Troubled Debt Restructurings Subsequently Defaulted Number of Contracts Recorded Investment Number of Contracts Recorded Investment ($ in thousands) Commercial and industrial 4 $ 3,212 6 $ 5,358 Total 4 $ 3,212 6 $ 5,358 Six Months Ended June 30, 2018 2017 Troubled Debt Restructurings Subsequently Defaulted Number of Contracts Recorded Investment Number of Contracts Recorded Investment ($ in thousands) Commercial and industrial 4 $ 3,212 7 $ 5,433 Commercial real estate — — 1 736 Residential mortgage — — 1 153 Total 4 $ 3,212 9 $ 6,322
Risk Category of Loans	The following table presents the credit exposure by internally assigned risk rating by class of loans (excluding PCI loans) at June 30, 2018 and December 31, 2017 based on the most recent analysis performed: Credit exposure - by internally assigned risk rating Pass Special Mention Substandard Doubtful Total Non-PCI Loans (in thousands) June 30, 2018 Commercial and industrial $ 2,853,692 $ 62,369 $ 56,095 $ 49,368 $ 3,021,524 Commercial real estate 9,019,309 35,200 55,136 — 9,109,645 Construction 994,407 523 1,772 — 996,702 Total $ 12,867,408 $ 98,092 $ 113,003 $ 49,368 $ 13,127,871 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
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 June 30, 2018 and December 31, 2017 : Credit exposure - by payment activity Performing Loans Non-Performing Loans Total PCI Loans (in thousands) June 30, 2018 Commercial and industrial $ 776,200 $ 31,801 $ 808,001 Commercial real estate 2,785,190 18,995 2,804,185 Construction 378,495 1,535 380,030 Residential mortgage 470,447 6,806 477,253 Consumer 174,411 3,821 178,232 Total $ 4,584,743 $ 62,958 $ 4,647,701 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 The following table presents the recorded investment in those loan classes based on payment activity as of June 30, 2018 and December 31, 2017 : Credit exposure - by payment activity Performing Loans Non-Performing Loans Total Non-PCI Loans (in thousands) June 30, 2018 Residential mortgage $ 3,032,126 $ 19,303 $ 3,051,429 Home equity 355,239 2,804 358,043 Automobile 1,281,223 80 1,281,303 Other consumer 768,250 119 768,369 Total $ 5,436,838 $ 22,306 $ 5,459,144 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

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2018
Receivables [Abstract]
Summary of Allowance for Credit Losses	The following table summarizes the allowance for credit losses at June 30, 2018 and December 31, 2017 : June 30, December 31, (in thousands) Components of allowance for credit losses: Allowance for loan losses $ 138,762 $ 120,856 Allowance for unfunded letters of credit 4,392 3,596 Total allowance for credit losses $ 143,154 $ 124,452
Summary of Provision for Credit Losses	The following table summarizes the provision for credit losses for the periods indicated: Three Months Ended Six Months Ended 2018 2017 2018 2017 (in thousands) Components of provision for credit losses: Provision for loan losses $ 6,592 $ 3,710 $ 17,294 $ 6,112 Provision for unfunded letters of credit 550 (78 ) 796 (10 ) Total provision for credit losses $ 7,142 $ 3,632 $ 18,090 $ 6,102
Summary of Activity in Allowance for Loan Losses	The following table details activity in the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2018 and 2017 : Commercial and Industrial Commercial Real Estate Residential Mortgage Consumer Total (in thousands) Three Months Ended Allowance for loan losses: Beginning balance $ 66,546 $ 56,679 $ 4,100 $ 5,537 $ 132,862 Loans charged-off (642 ) (38 ) (99 ) (1,422 ) (2,201 ) Charged-off loans recovered 819 15 180 495 1,509 Net recoveries (charge-offs) 177 (23 ) 81 (927 ) (692 ) Provision for loan losses 7,534 (2,844 ) 443 1,459 6,592 Ending balance $ 74,257 $ 53,812 $ 4,624 $ 6,069 $ 138,762 Three Months Ended Allowance for loan losses: Beginning balance $ 51,288 $ 56,302 $ 3,592 $ 4,261 $ 115,443 Loans charged-off (2,910 ) (139 ) (229 ) (1,011 ) (4,289 ) Charged-off loans recovered 312 640 235 395 1,582 Net (charge-offs) recoveries (2,598 ) 501 6 (616 ) (2,707 ) Provision for loan losses 2,927 (1,348 ) 588 1,543 3,710 Ending balance $ 51,617 $ 55,455 $ 4,186 $ 5,188 $ 116,446 Commercial and Industrial Commercial Real Estate Residential Mortgage Consumer Total (in thousands) Six Months Ended Allowance for loan losses: Beginning balance $ 57,232 $ 54,954 $ 3,605 $ 5,065 $ 120,856 Loans charged-off (773 ) (348 ) (167 ) (2,633 ) (3,921 ) Charged-off loans recovered 2,926 384 260 963 4,533 Net recoveries (charge-offs) 2,153 36 93 (1,670 ) 612 Provision for loan losses 14,872 (1,178 ) 926 2,674 17,294 Ending balance $ 74,257 $ 53,812 $ 4,624 $ 6,069 $ 138,762 Six Months Ended Allowance for loan losses: Beginning balance $ 50,820 $ 55,851 $ 3,702 $ 4,046 $ 114,419 Loans charged-off (4,624 ) (553 ) (359 ) (2,132 ) (7,668 ) Charged-off loans recovered 1,160 782 683 958 3,583 Net (charge-offs) recoveries (3,464 ) 229 324 (1,174 ) (4,085 ) Provision for loan losses 4,261 (625 ) 160 2,316 6,112 Ending balance $ 51,617 $ 55,455 $ 4,186 $ 5,188 $ 116,446
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 at June 30, 2018 and December 31, 2017 . 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) June 30, 2018 Allowance for loan losses: Individually evaluated for impairment $ 24,817 $ 2,987 $ 632 $ 72 $ 28,508 Collectively evaluated for impairment 49,440 50,825 3,992 5,997 110,254 Total $ 74,257 $ 53,812 $ 4,624 $ 6,069 $ 138,762 Loans: Individually evaluated for impairment $ 87,170 $ 54,719 $ 12,849 $ 1,453 $ 156,191 Collectively evaluated for impairment 2,934,354 10,051,628 3,038,580 2,406,262 18,430,824 Loans acquired with discounts related to credit quality 808,001 3,184,215 477,253 178,232 4,647,701 Total $ 3,829,525 $ 13,290,562 $ 3,528,682 $ 2,585,947 $ 23,234,716 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

Goodwill and Other Intangible32

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule 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, 2017 $ 21,218 $ 200,103 $ 316,258 $ 153,058 $ 690,637 Goodwill from business combinations — 85,649 238,052 64,554 388,255 Balance at June 30, 2018 $ 21,218 $ 285,752 $ 554,310 $ 217,612 $ 1,078,892 * Wealth Management 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 table summarizes other intangible assets as of June 30, 2018 and December 31, 2017 : Gross Intangible Assets Accumulated Amortization Valuation Allowance Net Intangible Assets (in thousands) June 30, 2018 Loan servicing rights $ 84,956 $ (59,975 ) $ (154 ) $ 24,827 Core deposits 80,470 (23,002 ) — 57,468 Other 3,945 (2,274 ) — 1,671 Total other intangible assets $ 169,371 $ (85,251 ) $ (154 ) $ 83,966 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
Estimated Future Amortization Expense	The following table presents the estimated future amortization expense of other intangible assets for the remainder of 2018 through 2022 : Loan Servicing Rights Core Deposits Other (in thousands) 2018 $ 3,155 $ 6,134 $ 125 2019 5,148 10,961 235 2020 4,160 9,607 220 2021 3,243 8,252 206 2022 2,608 6,898 191

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Non-Interest Income	The following table presents non-interest income for the three and six months ended June 30, 2018 and 2017 : Three Months Ended Six Months Ended 2018 2017 2018 2017 (in thousands) Trust and investment services $ 3,262 $ 2,800 $ 6,492 $ 5,544 Insurance commissions 4,026 4,358 7,847 9,419 Service charges on deposit accounts 6,679 5,342 13,932 10,578 (Losses) gains on securities transactions, net (36 ) 22 (801 ) (1 ) Fees from loan servicing 2,045 1,831 4,268 3,646 Gains on sales of loans, net 7,642 4,791 14,395 8,919 Bank owned life insurance 2,652 1,701 4,415 4,164 Other 11,799 7,985 19,772 12,281 Total non-interest income $ 38,069 $ 28,830 $ 70,320 $ 54,550

Derivative Instruments and He34

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
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: June 30, 2018 December 31, 2017 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 swaps and caps $ — $ 32 $ 482,000 $ 650 $ 81 $ 607,000 Fair value hedge interest rate swaps — 419 7,657 — 637 7,775 Total derivatives designated as hedging instruments $ — $ 451 $ 489,657 $ 650 $ 718 $ 614,775 Derivatives not designated as hedging instruments: Interest rate swaps and embedded derivatives $ 29,834 $ 37,135 $ 2,996,861 $ 25,696 $ 23,494 $ 1,687,005 Mortgage banking derivatives 298 316 126,994 71 118 113,233 Total derivatives not designated as hedging instruments $ 30,132 $ 37,451 $ 3,123,855 $ 25,767 $ 23,612 $ 1,800,238
(Losses) Gains Related to Interest Rate Derivatives Designated as Hedges of Cash Flows	(Losses) gains included in the consolidated statements of income and in other comprehensive (loss) income, on a pre-tax basis, related to interest rate derivatives designated as hedges of cash flows were as follows: Three Months Ended Six Months Ended 2018 2017 2018 2017 (in thousands) Amount of loss reclassified from accumulated other comprehensive loss to interest expense $ (866 ) $ (2,314 ) $ (2,317 ) $ (4,832 ) Amount of gain recognized in other comprehensive (loss) income 637 (1,482 ) 3,388 (1,265 )
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: Three Months Ended Six Months Ended 2018 2017 2018 2017 (in thousands) Derivative - interest rate swaps: Interest income $ 88 $ 52 $ 219 $ 149 Hedged item - loans: Interest income $ (88 ) $ (52 ) $ (219 ) $ (149 )
Interest Rate Derivatives Designated as Hedges	The following table presents the hedged items related to interest rate derivatives designated as hedges of fair value and the cumulative basis fair value adjustment included in the net carrying amount of the hedged items at June 30, 2018 : June 30, 2018 Line Item in the Statement of Financial Position in Which the Hedged Item is Included Carrying Amount of the Hedged Asset Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Asset (in thousands) Loans $ 8,076 $ 419
Net Gains (Losses) Related to Derivative Instruments Not Designated as Hedging Instruments	The net gains (losses) included in the consolidated statements of income related to derivative instruments not designated as hedging instruments were as follows: Three Months Ended Six Months Ended 2018 2017 2018 2017 (in thousands) Non-designated hedge interest rate derivatives Other non-interest expense $ 230 $ 70 $ 448 $ (790 )

Balance Sheet Offsetting (Table

Balance Sheet Offsetting (Tables)	6 Months Ended
	Jun. 30, 2018
Offsetting [Abstract]
Gross Presentation Effects of Offsetting and Net Presentation of Valley's Financial Instruments	The table below presents information about Valley’s financial instruments that are eligible for offset in the consolidated statements of financial condition as of June 30, 2018 and December 31, 2017 . Gross Amounts Not Offset Gross Amounts Recognized Gross Amounts Offset Net Amounts Presented Financial Instruments Cash Collateral Net Amount (in thousands) June 30, 2018 Assets: Interest rate swaps $ 29,834 $ — $ 29,834 $ (336 ) $ — $ 29,498 Liabilities: Interest rate swaps $ 37,586 $ — $ 37,586 $ (336 ) $ (1,645 ) (1) $ 35,605 Repurchase agreements 150,000 — 150,000 — (150,000 ) (2) — Total $ 187,586 $ — $ 187,586 $ (336 ) $ (151,645 ) $ 35,605 December 31, 2017 Assets: Interest rate swaps and caps $ 26,346 $ — $ 26,346 $ (5,376 ) $ — $ 20,970 Liabilities: Interest rate swaps and caps $ 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 (1) Represents the amount of collateral posted with derivative counterparties that offsets net liability positions. (2) Represents the fair value of non-cash pledged investment securities.

Tax Credit Investments (Tables)

Tax Credit Investments (Tables)	6 Months Ended
	Jun. 30, 2018
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 June 30, 2018 and December 31, 2017 . June 30, December 31, (in thousands) Other Assets: Affordable housing tax credit investments, net $ 40,226 $ 22,135 Other tax credit investments, net 31,129 42,015 Total tax credit investments, net $ 71,355 $ 64,150 Other Liabilities: Unfunded affordable housing tax credit commitments $ 4,978 $ 3,690 Unfunded other tax credit commitments 4,773 15,020 Total unfunded tax credit commitments $ 9,751 $ 18,710
Affordable Housing Tax Credit Investments and Other Tax Credit Investments	The following table presents other information relating to Valley’s affordable housing tax credit investments and other tax credit investments for the three and six months ended June 30, 2018 and 2017 : Three Months Ended Six Months Ended 2018 2017 2018 2017 (in thousands) Components of Income Tax Expense: Affordable housing tax credits and other tax benefits $ 1,429 $ 1,271 $ 3,250 $ 2,555 Other tax credit investment credits and tax benefits 5,680 8,680 11,165 14,966 Total reduction in income tax expense $ 7,109 $ 9,951 $ 14,415 $ 17,521 Amortization of Tax Credit Investments: Affordable housing tax credit investment losses $ (319 ) $ 358 $ 667 $ 754 Affordable housing tax credit investment impairment losses 515 130 1,102 254 Other tax credit investment losses 1,253 1,060 1,790 1,827 Other tax credit investment impairment losses 3,021 6,184 6,185 10,221 Total amortization of tax credit investments recorded in non-interest expense $ 4,470 $ 7,732 $ 9,744 $ 13,056

Business Combinations - Additio

Business Combinations - Additional Information (Details) $ in Thousands	Jan. 01, 2018USD ($)officebranch	Jun. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Dec. 31, 2017USD ($)
Business Acquisition [Line Items]
Assets		$ 30,182,979	$ 30,182,979	$ 24,002,306
Loans		23,095,954	23,095,954	18,210,724
Deposits		21,640,772	21,640,772	$ 18,153,462
USAmeriBancorp, Inc.
Business Acquisition [Line Items]
Share ratio of common stock issued to USAB shareholders	6.1
Total consideration	$ 737,230
Merger expenses		$ 3,200	$ 16,800
USAmeriBancorp, Inc.
Business Acquisition [Line Items]
Assets	5,100,000
Loans	3,744,682
Deposits	$ 3,600,000
Number of offices | office	29
ALABAMA | USAmeriBancorp, Inc.
Business Acquisition [Line Items]
Number of branches | branch	15

Business Combinations - Assets

Business Combinations - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Assets acquired
Loans	$ 23,095,954		$ 18,210,724
Goodwill	1,078,892		690,637
Deposits
Savings, NOW and money market	$ 10,769,940		$ 9,365,013
USAmeriBancorp, Inc.
Assets acquired
Cash and cash equivalents		$ 156,612
Premises and equipment		62,066
Bank owned life insurance		49,052
Accrued interest receivable		12,123
Goodwill		388,255
Other intangible assets		45,906
Other assets
Deferred taxes		8,698
Other real estate owned		4,073
FHLB and FRB stock		38,809
Tax credit investments		20,138
Other		26,416
Total other assets		98,134
Total assets acquired		5,079,432
Deposits
Non-interest bearing		887,083
Savings, NOW and money market		1,678,115
Time		999,645
Total deposits		3,564,843
Short-term borrowings		649,979
Long-term borrowings		87,283
Junior subordinated debentures issued to capital trusts		13,249
Accrued expenses and other liabilities		26,848
Total liabilities assumed		4,342,202
Common stock issued in acquisition		737,230
Investment securities held to maturity | USAmeriBancorp, Inc.
Assets acquired
Investment securities		214,217
Investment securities available for sale | USAmeriBancorp, Inc.
Assets acquired
Investment securities		308,385
USAmeriBancorp, Inc.
Assets acquired
Loans		$ 3,744,682

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share Reconciliation
Net income available to common shareholders	$ 69,630	$ 48,268	$ 108,423	$ 92,566
Basic weighted average number of common shares outstanding (in shares)	331,318,381	263,958,292	331,024,531	263,878,103
Plus: Common stock equivalents (in shares)	1,577,102	819,950	1,575,460	784,760
Diluted weighted average number of common shares outstanding (in shares)	332,895,483	264,778,242	332,599,991	264,662,863
Earnings per common share:
Basic (usd per share)	$ 0.21	$ 0.18	$ 0.33	$ 0.35
Diluted (usd per share)	$ 0.21	$ 0.18	$ 0.33	$ 0.35
Anti-dilutive common stock options and warrants (in shares)			2,900,000	3,300,000

Accumulated Other Comprehensi40

Accumulated Other Comprehensive Loss - Components of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Jan. 01, 2018
Accumulated Other Comprehensive Income (Loss)
Beginning balance			$ 2,533,165
Beginning balance after reclassifications	$ 3,277,312		2,533,165
Amounts reclassified from other comprehensive (loss) income	773	$ 1,363	2,453	$ 2,823
Ending balance	3,277,312		3,277,312
Unrealized Gains and Losses on Available for Sale (AFS) Securities
Accumulated Other Comprehensive Income (Loss)
Beginning balance	(32,865)		(12,004)
Beginning balance after reclassifications	(32,865)		(12,004)		$ (12,484)
Other comprehensive (loss) income before reclassifications	(6,461)		(27,390)
Amounts reclassified from other comprehensive (loss) income	30		578
Other comprehensive (loss) income, net	(6,431)		(26,812)
Ending balance	(39,296)		(39,296)
Non-credit Impairment Losses on AFS Securities
Accumulated Other Comprehensive Income (Loss)
Beginning balance	(664)		(380)
Beginning balance after reclassifications	(664)		(380)		(380)
Other comprehensive (loss) income before reclassifications	212		(56)
Amounts reclassified from other comprehensive (loss) income	12		(4)
Other comprehensive (loss) income, net	224		(60)
Ending balance	(440)		(440)
Unrealized Gains and (Losses) on Derivatives
Accumulated Other Comprehensive Income (Loss)
Beginning balance	(5,403)		(8,338)
Beginning balance after reclassifications	(5,403)		(8,338)		(8,399)
Other comprehensive (loss) income before reclassifications	455		2,415
Amounts reclassified from other comprehensive (loss) income	619		1,655
Other comprehensive (loss) income, net	1,074		4,070
Ending balance	(4,329)		(4,329)
Defined Benefit Pension Plan
Accumulated Other Comprehensive Income (Loss)
Beginning balance	(25,171)		(25,283)
Beginning balance after reclassifications	(25,171)		(25,283)		(25,283)
Other comprehensive (loss) income before reclassifications	0		0
Amounts reclassified from other comprehensive (loss) income	112	$ 59	224	$ 118
Other comprehensive (loss) income, net	112		224
Ending balance	(25,059)		(25,059)
Total Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss)
Beginning balance	(64,103)		(46,005)
Beginning balance after reclassifications	(64,103)		(46,005)		$ (46,546)
Other comprehensive (loss) income before reclassifications	(5,794)		(25,031)
Amounts reclassified from other comprehensive (loss) income	773		2,453
Other comprehensive (loss) income, net	(5,021)		(22,578)
Ending balance	$ (69,124)		(69,124)
Accounting Standards Update 2016-01 | Unrealized Gains and Losses on Available for Sale (AFS) Securities
Accumulated Other Comprehensive Income (Loss)
Reclassification due to adoption of new accounting principle			(480)
Accounting Standards Update 2016-01 | Non-credit Impairment Losses on AFS Securities
Accumulated Other Comprehensive Income (Loss)
Reclassification due to adoption of new accounting principle			0
Accounting Standards Update 2016-01 | Unrealized Gains and (Losses) on Derivatives
Accumulated Other Comprehensive Income (Loss)
Reclassification due to adoption of new accounting principle			0
Accounting Standards Update 2016-01 | Defined Benefit Pension Plan
Accumulated Other Comprehensive Income (Loss)
Reclassification due to adoption of new accounting principle			0
Accounting Standards Update 2016-01 | Total Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss)
Reclassification due to adoption of new accounting principle			(480)
Accounting Standards Update 2017-02 | Unrealized Gains and Losses on Available for Sale (AFS) Securities
Accumulated Other Comprehensive Income (Loss)
Reclassification due to adoption of new accounting principle			0
Accounting Standards Update 2017-02 | Non-credit Impairment Losses on AFS Securities
Accumulated Other Comprehensive Income (Loss)
Reclassification due to adoption of new accounting principle			0
Accounting Standards Update 2017-02 | Unrealized Gains and (Losses) on Derivatives
Accumulated Other Comprehensive Income (Loss)
Reclassification due to adoption of new accounting principle			(61)
Accounting Standards Update 2017-02 | Defined Benefit Pension Plan
Accumulated Other Comprehensive Income (Loss)
Reclassification due to adoption of new accounting principle			0
Accounting Standards Update 2017-02 | Total Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss)
Reclassification due to adoption of new accounting principle			$ (61)

Accumulated Other Comprehensi41

Accumulated Other Comprehensive Loss - Reclassifications from AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Reclassification Out Of Accumulated Other Comprehensive Loss
Tax effect	$ (18,961)	$ (20,714)	$ (32,145)	$ (38,785)
Total net of tax	72,802	50,065	114,767	96,160
Interest expense	(69,366)	(42,187)	(129,263)	(78,774)
Total reclassifications, net of tax	(773)	(1,363)	(2,453)	(2,823)
Unrealized (losses) gains on AFS securities before tax
Reclassification Out Of Accumulated Other Comprehensive Loss
Total reclassifications, net of tax	(30)		(578)
Non-credit impairment losses on AFS securities before tax
Reclassification Out Of Accumulated Other Comprehensive Loss
Total reclassifications, net of tax	(12)		4
Unrealized losses on derivatives (cash flow hedges) before tax
Reclassification Out Of Accumulated Other Comprehensive Loss
Total reclassifications, net of tax	(619)		(1,655)
Defined benefit pension plan
Reclassification Out Of Accumulated Other Comprehensive Loss
Amortization of net loss	(157)	(101)	(314)	(202)
Tax effect	45	42	90	84
Total reclassifications, net of tax	(112)	(59)	(224)	(118)
Reclassification Out of Accumulated Other Comprehensive Income (Loss)
Reclassification Out Of Accumulated Other Comprehensive Loss
Interest expense	(866)	(2,314)	(2,317)	(4,832)
Reclassification Out of Accumulated Other Comprehensive Income (Loss) | Unrealized (losses) gains on AFS securities before tax
Reclassification Out Of Accumulated Other Comprehensive Loss
(Losses) gains on securities transactions, net	(36)	22	(801)	(1)
Tax effect	6	(9)	223	1
Total net of tax	(30)	13	(578)	0
Reclassification Out of Accumulated Other Comprehensive Income (Loss) | Non-credit impairment losses on AFS securities before tax
Reclassification Out Of Accumulated Other Comprehensive Loss
Tax effect	4	(28)	(2)	(89)
Total net of tax	(12)	39	4	126
Interest and dividends on investment securities (taxable)	(16)	67	6	215
Reclassification Out of Accumulated Other Comprehensive Income (Loss) | Unrealized losses on derivatives (cash flow hedges) before tax
Reclassification Out Of Accumulated Other Comprehensive Loss
Tax effect	247	958	662	2,001
Total net of tax	(619)	(1,356)	(1,655)	(2,831)
Interest expense	$ (866)	$ (2,314)	$ (2,317)	$ (4,832)

New Authoritative Accounting 42

New Authoritative Accounting Guidance New Authoritative Accounting Guidance (Details) $ in Millions	Dec. 31, 2017USD ($)
Accounting Standards Update 2016-16
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect adjustment that reduced retained earnings	$ 15.4

Fair Value Measurement of Ass43

Fair Value Measurement of Assets and Liabilities - Recurring and Non-Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Investment securities
Available for sale	$ 1,833,467	$ 1,493,905
Available for sale	1,833,467	1,493,905
Non-recurring fair value measurements
Unpaid principal balances of loans held for sale	32,100	14,800
U.S. Treasury securities
Investment securities
Available for sale	48,667	49,642
U.S. government agency securities
Investment securities
Available for sale	38,006	42,505
Obligations of states and political subdivisions
Investment securities
Available for sale	211,529	112,884
Residential mortgage-backed securities
Investment securities
Available for sale	1,477,846	1,223,295
Trust preferred securities
Investment securities
Available for sale	2,279	3,214
Corporate and other debt securities
Investment securities
Available for sale	55,140	51,164
Equity securities
Investment securities
Available for sale		11,201
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring fair value measurements
Investment securities
Available for sale	56,296
Available for sale		58,807
Loans held for sale	0	0
Other assets	0	0
Total assets	56,296	58,807
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
Investment securities
Available for sale	48,667
Available for sale		49,642
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring fair value measurements | U.S. government agency securities
Investment securities
Available for sale	0
Available for sale		0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring fair value measurements | Obligations of states and political subdivisions
Investment securities
Available for sale	0
Available for sale		0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring fair value measurements | Residential mortgage-backed securities
Investment securities
Available for sale	0
Available for sale		0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring fair value measurements | Trust preferred securities
Investment securities
Available for sale	0
Available for sale		0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring fair value measurements | Corporate and other debt securities
Investment securities
Available for sale	7,629
Available for sale		7,783
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring fair value measurements | Equity securities
Investment securities
Available for sale		1,382
Quoted Prices in Active Markets for Identical Assets (Level 1) | Non-recurring fair value measurements
Non-recurring fair value measurements
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
Investment securities
Available for sale	1,770,728
Available for sale		1,427,738
Loans held for sale	32,670	15,119
Other assets	30,132	26,417
Total assets	1,833,530	1,469,274
Liabilities
Other liabilities	37,902	24,330
Total liabilities	37,902	24,330
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | U.S. Treasury securities
Investment securities
Available for sale	0
Available for sale		0
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | U.S. government agency securities
Investment securities
Available for sale	38,006
Available for sale		42,505
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Obligations of states and political subdivisions
Investment securities
Available for sale	211,529
Available for sale		112,884
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Residential mortgage-backed securities
Investment securities
Available for sale	1,471,403
Available for sale		1,215,935
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Trust preferred securities
Investment securities
Available for sale	2,279
Available for sale		3,214
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Corporate and other debt securities
Investment securities
Available for sale	47,511
Available for sale		43,381
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Equity securities
Investment securities
Available for sale		9,819
Significant Other Observable Inputs (Level 2) | Non-recurring fair value measurements
Non-recurring fair value measurements
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
Investment securities
Available for sale	6,443
Available for sale		7,360
Loans held for sale	0	0
Other assets	0	0
Total assets	6,443	7,360
Liabilities
Other liabilities	0	0
Total liabilities	0	0
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | U.S. Treasury securities
Investment securities
Available for sale	0
Available for sale		0
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | U.S. government agency securities
Investment securities
Available for sale	0
Available for sale		0
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | Obligations of states and political subdivisions
Investment securities
Available for sale	0
Available for sale		0
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | Residential mortgage-backed securities
Investment securities
Available for sale	6,443
Available for sale		7,360
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | Trust preferred securities
Investment securities
Available for sale	0
Available for sale		0
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | Corporate and other debt securities
Investment securities
Available for sale	0
Available for sale		0
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | Equity securities
Investment securities
Available for sale		0
Significant Unobservable Inputs (Level 3) | Non-recurring fair value measurements
Non-recurring fair value measurements
Collateral dependent impaired loans	36,957	48,373
Loan servicing rights	2,212	5,350
Foreclosed assets	1,239	3,472
Total	40,408	57,195
Fair Value | Recurring fair value measurements
Investment securities
Available for sale	1,833,467
Available for sale		1,493,905
Loans held for sale	32,670	15,119
Other assets	30,132	26,417
Total assets	1,896,269	1,535,441
Liabilities
Other liabilities	37,902	24,330
Total liabilities	37,902	24,330
Fair Value | Recurring fair value measurements | U.S. Treasury securities
Investment securities
Available for sale	48,667
Available for sale		49,642
Fair Value | Recurring fair value measurements | U.S. government agency securities
Investment securities
Available for sale	38,006
Available for sale		42,505
Fair Value | Recurring fair value measurements | Obligations of states and political subdivisions
Investment securities
Available for sale	211,529
Available for sale		112,884
Fair Value | Recurring fair value measurements | Residential mortgage-backed securities
Investment securities
Available for sale	1,477,846
Available for sale		1,223,295
Fair Value | Recurring fair value measurements | Trust preferred securities
Investment securities
Available for sale	2,279
Available for sale		3,214
Fair Value | Recurring fair value measurements | Corporate and other debt securities
Investment securities
Available for sale	55,140
Available for sale		51,164
Fair Value | Recurring fair value measurements | Equity securities
Investment securities
Available for sale		11,201
Fair Value | Non-recurring fair value measurements
Non-recurring fair value measurements
Collateral dependent impaired loans	36,957	48,373
Loan servicing rights	2,212	5,350
Foreclosed assets	1,239	3,472
Total	$ 40,408	$ 57,195

Fair Value Measurement of Ass44

Fair Value Measurement of Assets and Liabilities - Changes in Level 3 Assets (Details) - Available for Sale Securities - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Changes in Level 3 Assets
Balance, beginning of the period	$ 6,498	$ 11,367	$ 7,360	$ 11,888
Total net gains (losses) included in other comprehensive income	313	(31)	(85)	13
Settlements, net	(368)	(606)	(832)	(1,171)
Balance, end of the period	$ 6,443	$ 10,730	$ 6,443	$ 10,730

Fair Value Measurement of Ass45

Fair Value Measurement of Assets and Liabilities - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Fair Value Assets Measured On Recurring Basis
Impaired collateral dependent loans, charge-offs		$ 1,900,000		$ 2,100,000
Collateral dependent impaired loans, recorded investment	$ 60,300,000		$ 60,300,000
Specific valuation allowance allocations	23,300,000		23,300,000
Reported net carrying amount of impaired loans	37,000,000		$ 37,000,000
Valuation of loan servicing rights, discount rate			8.00%
Net impairment charges (recoveries) on its loan servicing rights	(90,000)	(50,000)	$ (317,000)	(51,000)
Foreclosed assets measured at fair value upon initial recognition			1,200,000
Foreclosed asset charge-offs	649,000	282,000	1,200,000	994,000
Loss due to re-measurement of repossessed assets			$ 145,000	290,000
Minimum
Fair Value Assets Measured On Recurring Basis
Valuation of loan servicing rights, prepayment rate			0.00%
Maximum
Fair Value Assets Measured On Recurring Basis
Valuation of loan servicing rights, prepayment rate			24.00%
Available for Sale Securities
Fair Value Assets Measured On Recurring Basis
Changes in unrealized losses on Level 3 securities	$ 0	$ 0		$ 0

Fair Value Measurement of Ass46

Fair Value Measurement of Assets and Liabilities - Quantitative Information about Level 3 Inputs (Details) - Significant Unobservable Inputs (Level 3) - Residential mortgage-backed securities - Discounted cash flow	Jun. 30, 2018	Jun. 30, 2018
Minimum
Fair Value Assets Measured On Recurring Basis
Prepayment rate	1.80%
Default rate	3.10%
Loss severity	45.40%
Maximum
Fair Value Assets Measured On Recurring Basis
Prepayment rate	28.80%
Default rate	47.40%
Loss severity	62.00%
Weighted Average
Fair Value Assets Measured On Recurring Basis
Prepayment rate		13.00%
Default rate		8.90%
Loss severity		57.10%

Fair Value Measurement of Ass47

Fair Value Measurement of Assets and Liabilities - Carrying Amounts and Estimated Fair Values (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Fair value and carrying amounts of assets and liabilities not measured and not reported at fair value on the consolidated statement of financial condition
Interest bearing deposits with banks	$ 164,838	$ 172,800
Investment securities held to maturity:	1,988,782	1,837,620
Accrued interest receivable	88,155	73,990
Deposits with stated maturities	4,653,412	3,563,521
Carrying Amount
Fair value and carrying amounts of assets and liabilities not measured and not reported at fair value on the consolidated statement of financial condition
Investment securities held to maturity:	2,030,194	1,842,691
Carrying Amount | Level 1
Fair value and carrying amounts of assets and liabilities not measured and not reported at fair value on the consolidated statement of financial condition
Cash and due from banks	307,428	243,310
Interest bearing deposits with banks	164,838	172,800
Accrued interest receivable	88,155	73,990
Federal Reserve Bank and Federal Home Loan Bank stock	291,705	178,668
Deposits without stated maturities	16,987,360	14,589,941
Short-term borrowings	2,877,912	748,628
Accrued interest payable	18,608	14,161
Carrying Amount | Level 1 | U.S. Treasury securities
Fair value and carrying amounts of assets and liabilities not measured and not reported at fair value on the consolidated statement of financial condition
Investment securities held to maturity:	138,598	138,676
Carrying Amount | Level 2
Fair value and carrying amounts of assets and liabilities not measured and not reported at fair value on the consolidated statement of financial condition
Deposits with stated maturities	4,653,412	3,563,521
Long-term borrowings	2,103,993	2,315,819
Junior subordinated debentures issued to capital trusts	55,196	41,774
Carrying Amount | Level 2 | U.S. government agency securities
Fair value and carrying amounts of assets and liabilities not measured and not reported at fair value on the consolidated statement of financial condition
Investment securities held to maturity:	9,447	9,859
Carrying Amount | Level 2 | Obligations of states and political subdivisions
Fair value and carrying amounts of assets and liabilities not measured and not reported at fair value on the consolidated statement of financial condition
Investment securities held to maturity:	615,651	465,878
Carrying Amount | Level 2 | Residential mortgage-backed securities
Fair value and carrying amounts of assets and liabilities not measured and not reported at fair value on the consolidated statement of financial condition
Investment securities held to maturity:	1,185,165	1,131,945
Carrying Amount | Level 2 | Trust preferred securities
Fair value and carrying amounts of assets and liabilities not measured and not reported at fair value on the consolidated statement of financial condition
Investment securities held to maturity:	49,833	49,824
Carrying Amount | Level 2 | Corporate and other debt securities
Fair value and carrying amounts of assets and liabilities not measured and not reported at fair value on the consolidated statement of financial condition
Investment securities held to maturity:	31,500	46,509
Carrying Amount | Level 3
Fair value and carrying amounts of assets and liabilities not measured and not reported at fair value on the consolidated statement of financial condition
Net loans	23,095,954	18,210,724
Fair Value
Fair value and carrying amounts of assets and liabilities not measured and not reported at fair value on the consolidated statement of financial condition
Investment securities held to maturity:	1,988,782	1,837,620
Fair Value | Level 1
Fair value and carrying amounts of assets and liabilities not measured and not reported at fair value on the consolidated statement of financial condition
Cash and due from banks	307,428	243,310
Interest bearing deposits with banks	164,838	172,800
Accrued interest receivable	88,155	73,990
Federal Reserve Bank and Federal Home Loan Bank stock	291,705	178,668
Deposits without stated maturities	16,987,360	14,589,941
Short-term borrowings	2,580,009	679,316
Accrued interest payable	18,608	14,161
Fair Value | Level 1 | U.S. Treasury securities
Fair value and carrying amounts of assets and liabilities not measured and not reported at fair value on the consolidated statement of financial condition
Investment securities held to maturity:	141,605	145,257
Fair Value | Level 2
Fair value and carrying amounts of assets and liabilities not measured and not reported at fair value on the consolidated statement of financial condition
Deposits with stated maturities	4,604,918	3,465,373
Long-term borrowings	1,812,019	2,453,797
Junior subordinated debentures issued to capital trusts	48,918	37,289
Fair Value | Level 2 | U.S. government agency securities
Fair value and carrying amounts of assets and liabilities not measured and not reported at fair value on the consolidated statement of financial condition
Investment securities held to maturity:	9,280	9,981
Fair Value | Level 2 | Obligations of states and political subdivisions
Fair value and carrying amounts of assets and liabilities not measured and not reported at fair value on the consolidated statement of financial condition
Investment securities held to maturity:	616,786	477,479
Fair Value | Level 2 | Residential mortgage-backed securities
Fair value and carrying amounts of assets and liabilities not measured and not reported at fair value on the consolidated statement of financial condition
Investment securities held to maturity:	1,146,450	1,118,044
Fair Value | Level 2 | Trust preferred securities
Fair value and carrying amounts of assets and liabilities not measured and not reported at fair value on the consolidated statement of financial condition
Investment securities held to maturity:	43,334	40,088
Fair Value | Level 2 | Corporate and other debt securities
Fair value and carrying amounts of assets and liabilities not measured and not reported at fair value on the consolidated statement of financial condition
Investment securities held to maturity:	31,327	46,771
Fair Value | Level 3
Fair value and carrying amounts of assets and liabilities not measured and not reported at fair value on the consolidated statement of financial condition
Net loans	$ 22,752,737	$ 17,562,153

Investment Securities - Amortiz

Investment Securities - Amortized Cost, Held to Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Schedule of Held-to-maturity Securities
Amortized Cost	$ 2,030,194	$ 1,842,691
Gross Unrealized Gains	14,292	25,419
Gross Unrealized Losses	(55,704)	(30,490)
Fair Value	1,988,782	1,837,620
U.S. Treasury securities
Schedule of Held-to-maturity Securities
Amortized Cost	138,598	138,676
Gross Unrealized Gains	3,007	6,581
Gross Unrealized Losses	0	0
Fair Value	141,605	145,257
U.S. government agency securities
Schedule of Held-to-maturity Securities
Amortized Cost	9,447	9,859
Gross Unrealized Gains	21	122
Gross Unrealized Losses	(188)	0
Fair Value	9,280	9,981
Obligations of states and state agencies
Schedule of Held-to-maturity Securities
Amortized Cost	355,219	244,272
Gross Unrealized Gains	4,940	7,083
Gross Unrealized Losses	(5,862)	(1,653)
Fair Value	354,297	249,702
Municipal bonds
Schedule of Held-to-maturity Securities
Amortized Cost	260,432	221,606
Gross Unrealized Gains	3,634	6,199
Gross Unrealized Losses	(1,577)	(28)
Fair Value	262,489	227,777
Obligations of states and political subdivisions
Schedule of Held-to-maturity Securities
Amortized Cost	615,651	465,878
Gross Unrealized Gains	8,574	13,282
Gross Unrealized Losses	(7,439)	(1,681)
Fair Value	616,786	477,479
Residential mortgage-backed securities
Schedule of Held-to-maturity Securities
Amortized Cost	1,185,165	1,131,945
Gross Unrealized Gains	2,493	4,842
Gross Unrealized Losses	(41,208)	(18,743)
Fair Value	1,146,450	1,118,044
Trust preferred securities
Schedule of Held-to-maturity Securities
Amortized Cost	49,833	49,824
Gross Unrealized Gains	78	60
Gross Unrealized Losses	(6,577)	(9,796)
Fair Value	43,334	40,088
Corporate and other debt securities
Schedule of Held-to-maturity Securities
Amortized Cost	31,500	46,509
Gross Unrealized Gains	119	532
Gross Unrealized Losses	(292)	(270)
Fair Value	$ 31,327	$ 46,771

Investment Securities - Unreali

Investment Securities - Unrealized Losses and Fair Value of Held to Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Schedule of Held-to-maturity Securities
Less than Twelve Months, Fair Value	$ 655,542	$ 365,182
Less than Twelve Months, Unrealized Losses	(16,398)	(2,702)
More than Twelve Months, Fair Value	637,421	663,238
More than Twelve Months, Unrealized Losses	(39,306)	(27,788)
Total, Fair Value	1,292,963	1,028,420
Total, Unrealized Losses	(55,704)	(30,490)
U.S. government agency securities
Schedule of Held-to-maturity Securities
Less than Twelve Months, Fair Value	6,527
Less than Twelve Months, Unrealized Losses	(188)
More than Twelve Months, Fair Value	0
More than Twelve Months, Unrealized Losses	0
Total, Fair Value	6,527
Total, Unrealized Losses	(188)
Obligations of states and state agencies
Schedule of Held-to-maturity Securities
Less than Twelve Months, Fair Value	125,371	6,342
Less than Twelve Months, Unrealized Losses	(2,503)	(50)
More than Twelve Months, Fair Value	46,899	53,034
More than Twelve Months, Unrealized Losses	(3,359)	(1,603)
Total, Fair Value	172,270	59,376
Total, Unrealized Losses	(5,862)	(1,653)
Municipal bonds
Schedule of Held-to-maturity Securities
Less than Twelve Months, Fair Value	87,785	4,644
Less than Twelve Months, Unrealized Losses	(1,546)	(25)
More than Twelve Months, Fair Value	533	561
More than Twelve Months, Unrealized Losses	(31)	(3)
Total, Fair Value	88,318	5,205
Total, Unrealized Losses	(1,577)	(28)
Obligations of states and political subdivisions
Schedule of Held-to-maturity Securities
Less than Twelve Months, Fair Value	213,156	10,986
Less than Twelve Months, Unrealized Losses	(4,049)	(75)
More than Twelve Months, Fair Value	47,432	53,595
More than Twelve Months, Unrealized Losses	(3,390)	(1,606)
Total, Fair Value	260,588	64,581
Total, Unrealized Losses	(7,439)	(1,681)
Residential mortgage-backed securities
Schedule of Held-to-maturity Securities
Less than Twelve Months, Fair Value	425,381	344,216
Less than Twelve Months, Unrealized Losses	(12,139)	(2,357)
More than Twelve Months, Fair Value	555,355	570,969
More than Twelve Months, Unrealized Losses	(29,069)	(16,386)
Total, Fair Value	980,736	915,185
Total, Unrealized Losses	(41,208)	(18,743)
Trust preferred securities
Schedule of Held-to-maturity Securities
Less than Twelve Months, Fair Value	0	0
Less than Twelve Months, Unrealized Losses	0	0
More than Twelve Months, Fair Value	29,903	38,674
More than Twelve Months, Unrealized Losses	(6,577)	(9,796)
Total, Fair Value	29,903	38,674
Total, Unrealized Losses	(6,577)	(9,796)
Corporate and other debt securities
Schedule of Held-to-maturity Securities
Less than Twelve Months, Fair Value	10,478	9,980
Less than Twelve Months, Unrealized Losses	(22)	(270)
More than Twelve Months, Fair Value	4,731	0
More than Twelve Months, Unrealized Losses	(270)	0
Total, Fair Value	15,209	9,980
Total, Unrealized Losses	$ (292)	$ (270)

Investment Securities - Additio

Investment Securities - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2018USD ($)security	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)security	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)security
Investment Securities [Line Items]
Number of security positions in the securities held to maturity portfolio in an unrealized loss position (in security) | security	362		362		152
Fair value of investments held to maturity pledged as collateral	$ 1,100,000,000		$ 1,100,000,000
Weighted-average remaining expected life of residential mortgage-backed securities held to maturity, years			8 years 5 months
Number of security positions in the securities available for sale portfolio in an unrealized loss position (in security) | security	567		567		327
Amortized cost	$ 1,888,953,000		$ 1,888,953,000		$ 1,511,034,000
Available for sale	1,833,467,000		1,833,467,000		$ 1,493,905,000
Fair value of securities available for sale pledged as collateral	1,000,000,000		$ 1,000,000,000
Weighted-average remaining expected life of residential mortgage-backed securities available for sale, years			8 years 5 months
Other than temporary impairment losses recognized in earnings	0	$ 0	$ 0	$ 0
(Losses) gains on securities transactions, net	(36,000)	$ 22,000	(801,000)	$ (1,000)
Four Private Label Mortgage-Backed Securities
Investment Securities [Line Items]
Amortized cost	7,000,000		7,000,000
Available for sale	$ 6,400,000		$ 6,400,000
Single Issuer Trust Preferred Securities | Non-Rated
Investment Securities [Line Items]
Number of security positions in the securities held to maturity portfolio in an unrealized loss position (in security) | security	4		4

Investment Securities - Contrac

Investment Securities - Contractual Maturities of Held to Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Amortized Cost
Due in one year	$ 13,524
Due after one year through five years	223,219
Due after five years through ten years	321,954
Due after ten years	286,332
Residential mortgage-backed securities	1,185,165
Amortized Cost	2,030,194	$ 1,842,691
Fair Value
Due in one year	13,580
Due after one year through five years	226,330
Due after five years through ten years	329,369
Due after ten years	273,053
Residential mortgage-backed securities	1,146,450
Total investment securities held to maturity	$ 1,988,782	$ 1,837,620

Investment Securities - Amort52

Investment Securities - Amortized Cost, Securities Available for Sale (Details) $ in Thousands	Jun. 30, 2018USD ($)Security	Dec. 31, 2017USD ($)
Schedule of Available-for-sale Securities
Amortized Cost	$ 1,888,953	$ 1,511,034
Gross Unrealized Gains	1,916	5,029
Gross Unrealized Losses	(57,402)	(22,158)
Fair Value	1,833,467	1,493,905
U.S. Treasury securities
Schedule of Available-for-sale Securities
Amortized Cost	50,986	50,997
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(2,319)	(1,355)
Fair Value	48,667	49,642
U.S. government agency securities
Schedule of Available-for-sale Securities
Amortized Cost	39,212	42,384
Gross Unrealized Gains	34	158
Gross Unrealized Losses	(1,240)	(37)
Fair Value	38,006	42,505
Obligations of states and state agencies
Schedule of Available-for-sale Securities
Amortized Cost	110,580	38,435
Gross Unrealized Gains	52	158
Gross Unrealized Losses	(2,636)	(374)
Fair Value	107,996	38,219
Municipal bonds
Schedule of Available-for-sale Securities
Amortized Cost	104,922	74,752
Gross Unrealized Gains	281	477
Gross Unrealized Losses	(1,670)	(564)
Fair Value	103,533	74,665
Obligations of states and political subdivisions
Schedule of Available-for-sale Securities
Amortized Cost	215,502	113,187
Gross Unrealized Gains	333	635
Gross Unrealized Losses	(4,306)	(938)
Fair Value	211,529	112,884
Residential mortgage-backed securities
Schedule of Available-for-sale Securities
Amortized Cost	1,525,041	1,239,534
Gross Unrealized Gains	1,330	2,423
Gross Unrealized Losses	(48,525)	(18,662)
Fair Value	1,477,846	1,223,295
Trust preferred securities
Schedule of Available-for-sale Securities
Amortized Cost	2,583	3,726
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(304)	(512)
Fair Value	2,279	3,214
Corporate and other debt securities
Schedule of Available-for-sale Securities
Amortized Cost	55,629	50,701
Gross Unrealized Gains	219	623
Gross Unrealized Losses	(708)	(160)
Fair Value	$ 55,140	51,164
Equity securities
Schedule of Available-for-sale Securities
Amortized Cost		10,505
Gross Unrealized Gains		1,190
Gross Unrealized Losses		(494)
Fair Value		$ 11,201
Pooled Trust Preferred Securities
Schedule of Available-for-sale Securities
Available-For-Sale Securities, Number Of Securities | Security	1

Investment Securities - Unrea53

Investment Securities - Unrealized Losses and Fair Value Available for Sale (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Fair Value
Less than Twelve Months	$ 1,095,370	$ 489,894
More than Twelve Months	638,437	691,297
Total	1,733,807	1,181,191
Unrealized Losses
Less than Twelve Months	(26,808)	(2,932)
More than Twelve Months	(30,594)	(19,226)
Total	(57,402)	(22,158)
U.S. Treasury securities
Fair Value
Less than Twelve Months	901	916
More than Twelve Months	47,766	48,726
Total	48,667	49,642
Unrealized Losses
Less than Twelve Months	(13)	(2)
More than Twelve Months	(2,306)	(1,353)
Total	(2,319)	(1,355)
U.S. government agency securities
Fair Value
Less than Twelve Months	30,485	31,177
More than Twelve Months	0	0
Total	30,485	31,177
Unrealized Losses
Less than Twelve Months	(1,240)	(37)
More than Twelve Months	0	0
Total	(1,240)	(37)
Obligations of states and state agencies
Fair Value
Less than Twelve Months	96,617	13,337
More than Twelve Months	8,041	7,792
Total	104,658	21,129
Unrealized Losses
Less than Twelve Months	(2,301)	(131)
More than Twelve Months	(335)	(243)
Total	(2,636)	(374)
Municipal bonds
Fair Value
Less than Twelve Months	69,301	31,669
More than Twelve Months	12,010	12,133
Total	81,311	43,802
Unrealized Losses
Less than Twelve Months	(1,251)	(256)
More than Twelve Months	(419)	(308)
Total	(1,670)	(564)
Obligations of states and political subdivisions
Fair Value
Less than Twelve Months	165,918	45,006
More than Twelve Months	20,051	19,925
Total	185,969	64,931
Unrealized Losses
Less than Twelve Months	(3,552)	(387)
More than Twelve Months	(754)	(551)
Total	(4,306)	(938)
Residential mortgage-backed securities
Fair Value
Less than Twelve Months	875,444	406,940
More than Twelve Months	553,585	599,167
Total	1,429,029	1,006,107
Unrealized Losses
Less than Twelve Months	(21,543)	(2,461)
More than Twelve Months	(26,982)	(16,201)
Total	(48,525)	(18,662)
Trust preferred securities
Fair Value
Less than Twelve Months	0	0
More than Twelve Months	2,279	3,214
Total	2,279	3,214
Unrealized Losses
Less than Twelve Months	0	0
More than Twelve Months	(304)	(512)
Total	(304)	(512)
Corporate and other debt securities
Fair Value
Less than Twelve Months	22,622	5,855
More than Twelve Months	14,756	15,115
Total	37,378	20,970
Unrealized Losses
Less than Twelve Months	(460)	(45)
More than Twelve Months	(248)	(115)
Total	$ (708)	(160)
Equity securities
Fair Value
Less than Twelve Months		0
More than Twelve Months		5,150
Total		5,150
Unrealized Losses
Less than Twelve Months		0
More than Twelve Months		(494)
Total		$ (494)

Investment Securities - Contr54

Investment Securities - Contractual Maturities of Available for Sale (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Amortized Cost
Due in one year	$ 18,801
Due after one year through five years	127,790
Due after five years through ten years	80,582
Due after ten years	136,739
Securities without a single maturity date	1,525,041
Amortized Cost	1,888,953	$ 1,511,034
Fair Value
Due in one year	18,876
Due after one year through five years	124,100
Due after five years through ten years	79,923
Due after ten years	132,723
Securities without a single maturity date	1,477,845
Total investment securities available for sale, Fair Value	$ 1,833,467	$ 1,493,905

Loans - Non-Covered and Covered

Loans - Non-Covered and Covered PCI Loans and Non-PCI Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable
Loans	$ 23,234,716	$ 18,331,580
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Loans	3,829,525	2,741,425
Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Loans	13,290,562	10,347,882
Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Loans	11,913,830	9,496,777
Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable
Loans	1,376,732	851,105
Residential mortgage
Accounts, Notes, Loans and Financing Receivable
Loans	3,528,682	2,859,035
Consumer
Accounts, Notes, Loans and Financing Receivable
Loans	2,585,947	2,383,238
Consumer | Home equity
Accounts, Notes, Loans and Financing Receivable
Loans	520,849	446,280
Consumer | Automobile
Accounts, Notes, Loans and Financing Receivable
Loans	1,281,735	1,208,902
Consumer | Other consumer
Accounts, Notes, Loans and Financing Receivable
Loans	783,363	728,056
Non-PCI Loans
Accounts, Notes, Loans and Financing Receivable
Loans	18,587,015	16,944,365
Non-PCI Loans | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Loans	3,021,524	2,549,065
Non-PCI Loans | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Loans	10,106,347	9,371,815
Non-PCI Loans | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Loans	9,109,645	8,561,851
Non-PCI Loans | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable
Loans	996,702	809,964
Non-PCI Loans | Residential mortgage
Accounts, Notes, Loans and Financing Receivable
Loans	3,051,429	2,717,744
Non-PCI Loans | Consumer
Accounts, Notes, Loans and Financing Receivable
Loans	2,407,715	2,305,741
Non-PCI Loans | Consumer | Home equity
Accounts, Notes, Loans and Financing Receivable
Loans	358,043	373,631
Non-PCI Loans | Consumer | Automobile
Accounts, Notes, Loans and Financing Receivable
Loans	1,281,303	1,208,804
Non-PCI Loans | Consumer | Other consumer
Accounts, Notes, Loans and Financing Receivable
Loans	768,369	723,306
PCI Loans
Accounts, Notes, Loans and Financing Receivable
Loans	4,647,701	1,387,215
Covered loans	31,100	38,700
PCI Loans | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Loans	808,001	192,360
PCI Loans | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Loans	3,184,215	976,067
PCI Loans | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Loans	2,804,185	934,926
PCI Loans | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable
Loans	380,030	41,141
PCI Loans | Residential mortgage
Accounts, Notes, Loans and Financing Receivable
Loans	477,253	141,291
PCI Loans | Consumer
Accounts, Notes, Loans and Financing Receivable
Loans	178,232	77,497
PCI Loans | Consumer | Home equity
Accounts, Notes, Loans and Financing Receivable
Loans	162,806	72,649
PCI Loans | Consumer | Automobile
Accounts, Notes, Loans and Financing Receivable
Loans	432	98
PCI Loans | Consumer | Other consumer
Accounts, Notes, Loans and Financing Receivable
Loans	$ 14,994	$ 4,750

Loans - Additional Information

Loans - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable
Non-covered loans net of unearned premiums and deferred loan fees	$ 18,700,000		$ 18,700,000		$ 22,200,000
Outstanding balances for PCI loans	4,900,000,000		4,900,000,000		1,500,000,000
Transfer of loans to loans held for sale			263,324,000	$ 225,541,000
Sales of loans	0	$ 0	0	0
Impaired loans	250,000		$ 250,000
Number of consecutive months for performing restructured loans to be put on accrual status			6 months
TDRs not reported as non-accrual loans	83,700,000		$ 83,700,000		117,200,000
Non-performing TDRs	54,100,000		54,100,000		27,000,000
Specific reserves for loan losses			5,300,000	5,300,000
Partial loan charge-offs related to loans modified as TDRs	$ 0	0	$ 0	0
Days past due to place on payment default	90 days		90 days
Recorded Investment	$ 3,212,000	$ 5,358,000	$ 3,212,000	6,322,000
Other real estate owned	11,800,000		11,800,000		9,800,000
Residential real estate properties
Accounts, Notes, Loans and Financing Receivable
Other real estate owned	8,100,000		8,100,000		7,300,000
In formal foreclosure proceedings
Accounts, Notes, Loans and Financing Receivable
Residential mortgage and consumer loans secured by residential real estate properties	1,800,000		1,800,000		3,800,000
Residential mortgage
Accounts, Notes, Loans and Financing Receivable
Transfer of loans to loans held for sale			263,300,000	225,500,000
Recorded Investment			0	$ 153,000
PCI Loans
Accounts, Notes, Loans and Financing Receivable
Total PCI Loans including covered loans	$ 31,100,000		$ 31,100,000		$ 38,700,000

Loans Loans - USAB Acquisition

Loans Loans - USAB Acquisition (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016
Business Combination, Separately Recognized Transactions [Line Items]
Interest component of expected cash flows (accretable yield)	$ (630,550)	$ (691,086)		$ (282,009)	$ (246,278)	$ (269,831)	$ (294,514)
USAmeriBancorp, Inc.
Business Combination, Separately Recognized Transactions [Line Items]
Contractually required principal and interest			$ 4,312,988
Contractual cash flows not expected to be collected (non-accretable difference)			(94,098)
Expected cash flows to be collected			4,218,890
Interest component of expected cash flows (accretable yield)			(474,208)
Fair value of acquired loans			$ 3,744,682

Loans - Changes in Accretable Y

Loans - Changes in Accretable Yield (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Balance, beginning of period	$ 691,086	$ 269,831	$ 282,009	$ 294,514
Acquisition	0	0	474,208	0
Accretion	(60,536)	(23,553)	(125,667)	(48,236)
Balance, end of period	$ 630,550	$ 246,278	$ 630,550	$ 246,278

Loans - Past Due, Non-Accrual a

Loans - Past Due, Non-Accrual and Current Non-Covered Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	$ 84,454	$ 47,225
Total Past Due Loans	117,746	127,706
Current Non-PCI Loans	18,469,269	16,816,659
Total Non-PCI Loans	18,587,015	16,944,365
30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	25,812	48,900
60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	4,371	28,491
Accruing Loans 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	3,109	3,090
Commercial and industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	53,596	20,890
Total Past Due Loans	62,469	25,084
Current Non-PCI Loans	2,959,055	2,523,981
Total Non-PCI Loans	3,021,524	2,549,065
Commercial and industrial | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	6,780	3,650
Commercial and industrial | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	1,533	544
Commercial and industrial | Accruing Loans 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	560	0
Commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	8,552	12,060
Total Past Due Loans	13,077	55,104
Current Non-PCI Loans	10,093,270	9,316,711
Total Non-PCI Loans	10,106,347	9,371,815
Commercial real estate | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	4,498	24,172
Commercial real estate | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	0	18,845
Commercial real estate | Accruing Loans 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	27	27
Commercial real estate | Commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	7,452	11,328
Total Past Due Loans	11,802	22,578
Current Non-PCI Loans	9,097,843	8,539,273
Total Non-PCI Loans	9,109,645	8,561,851
Commercial real estate | Commercial real estate | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	4,323	11,223
Commercial real estate | Commercial real estate | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	0	0
Commercial real estate | Commercial real estate | Accruing Loans 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	27	27
Commercial real estate | Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	1,100	732
Total Past Due Loans	1,275	32,526
Current Non-PCI Loans	995,427	777,438
Total Non-PCI Loans	996,702	809,964
Commercial real estate | Construction | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	175	12,949
Commercial real estate | Construction | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	0	18,845
Commercial real estate | Construction | Accruing Loans 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	0	0
Residential mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	19,303	12,405
Total Past Due Loans	31,566	35,756
Current Non-PCI Loans	3,019,863	2,681,988
Total Non-PCI Loans	3,051,429	2,717,744
Residential mortgage | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	7,961	12,669
Residential mortgage | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	1,978	7,903
Residential mortgage | Accruing Loans 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	2,324	2,779
Consumer loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	3,003	1,870
Total Past Due Loans	10,634	11,762
Current Non-PCI Loans	2,397,081	2,293,979
Total Non-PCI Loans	2,407,715	2,305,741
Consumer loans | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	6,573	8,409
Consumer loans | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	860	1,199
Consumer loans | Accruing Loans 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	198	284
Consumer loans | Home equity
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	2,804	1,777
Total Past Due Loans	3,768	2,880
Current Non-PCI Loans	354,275	370,751
Total Non-PCI Loans	358,043	373,631
Consumer loans | Home equity | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	686	1,009
Consumer loans | Home equity | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	278	94
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	80	73
Total Past Due Loans	6,271	7,038
Current Non-PCI Loans	1,275,032	1,201,766
Total Non-PCI Loans	1,281,303	1,208,804
Consumer loans | Automobile | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	5,482	5,707
Consumer loans | Automobile | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	545	987
Consumer loans | Automobile | Accruing Loans 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	164	271
Consumer loans | Other consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	119	20
Total Past Due Loans	595	1,844
Current Non-PCI Loans	767,774	721,462
Total Non-PCI Loans	768,369	723,306
Consumer loans | Other consumer | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	405	1,693
Consumer loans | Other consumer | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	37	118
Consumer loans | Other consumer | Accruing Loans 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	$ 34	$ 13

Loans - Impaired Loans (Details

Loans - Impaired Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	$ 41,856	$ 49,309
Recorded Investment With Related Allowance	114,335	114,857
Total Recorded Investment	156,191	164,166
Unpaid Contractual Principal Balance	166,654	175,198
Related Allowance	28,508	14,561
Commercial and industrial
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	10,241	9,946
Recorded Investment With Related Allowance	76,929	75,553
Total Recorded Investment	87,170	85,499
Unpaid Contractual Principal Balance	92,073	90,269
Related Allowance	24,817	11,044
Commercial real estate
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	24,551	30,613
Recorded Investment With Related Allowance	30,168	30,238
Total Recorded Investment	54,719	60,851
Unpaid Contractual Principal Balance	58,628	64,680
Related Allowance	2,987	2,735
Commercial real estate | Commercial real estate
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	22,751	28,709
Recorded Investment With Related Allowance	29,705	29,771
Total Recorded Investment	52,456	58,480
Unpaid Contractual Principal Balance	56,365	62,286
Related Allowance	2,972	2,718
Commercial real estate | Construction
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	1,800	1,904
Recorded Investment With Related Allowance	463	467
Total Recorded Investment	2,263	2,371
Unpaid Contractual Principal Balance	2,263	2,394
Related Allowance	15	17
Residential mortgage
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	6,226	5,654
Recorded Investment With Related Allowance	6,623	8,402
Total Recorded Investment	12,849	14,056
Unpaid Contractual Principal Balance	13,838	15,332
Related Allowance	632	718
Consumer loans
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	838	3,096
Recorded Investment With Related Allowance	615	664
Total Recorded Investment	1,453	3,760
Unpaid Contractual Principal Balance	2,115	4,917
Related Allowance	72	64
Consumer loans | Home equity
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	838	3,096
Recorded Investment With Related Allowance	615	664
Total Recorded Investment	1,453	3,760
Unpaid Contractual Principal Balance	2,115	4,917
Related Allowance	$ 72	$ 64

Loans - Average Recorded Invest

Loans - Average Recorded Investment and Interest Income on Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Accounts, Notes, Loans and Financing Receivable
Average Recorded Investment	$ 157,355	$ 131,515	$ 160,611	$ 122,642
Interest Income Recognized	1,009	1,009	2,560	1,909
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Average Recorded Investment	87,674	46,283	88,865	38,371
Interest Income Recognized	212	288	926	596
Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Average Recorded Investment	54,973	62,878	56,334	60,450
Interest Income Recognized	579	503	1,218	847
Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Average Recorded Investment	52,729	60,119	54,104	57,722
Interest Income Recognized	563	483	1,179	808
Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable
Average Recorded Investment	2,244	2,759	2,230	2,728
Interest Income Recognized	16	20	39	39
Residential mortgage
Accounts, Notes, Loans and Financing Receivable
Average Recorded Investment	12,914	17,555	13,502	18,974
Interest Income Recognized	185	184	350	392
Consumer loans
Accounts, Notes, Loans and Financing Receivable
Average Recorded Investment	1,794	4,799	1,910	4,847
Interest Income Recognized	33	34	66	74
Consumer loans | Home equity
Accounts, Notes, Loans and Financing Receivable
Average Recorded Investment	1,794	4,799	1,910	4,847
Interest Income Recognized	$ 33	$ 34	$ 66	$ 74

Loans - Pre-Modification and Po

Loans - Pre-Modification and Post-Modification (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018USD ($)contract	Jun. 30, 2017USD ($)contract	Jun. 30, 2018USD ($)contract	Jun. 30, 2017USD ($)contract
Troubled Debt Restructurings
Number of contracts, troubled restructurings (in contract) | contract	19	54	29	65
Pre-Modification Outstanding Recorded Investment	$ 13,722	$ 64,230	$ 16,356	$ 71,827
Post-Modification Outstanding Recorded Investment	$ 13,426	$ 62,516	$ 15,885	$ 69,084
Number of contracts, troubled debt restructurings subsequently defaulted (in contract) | contract	4	6	4	9
Recorded Investment	$ 3,212	$ 5,358	$ 3,212	$ 6,322
Commercial and industrial
Troubled Debt Restructurings
Number of contracts, troubled restructurings (in contract) | contract	11	47	15	53
Pre-Modification Outstanding Recorded Investment	$ 8,822	$ 40,077	$ 10,554	$ 46,315
Post-Modification Outstanding Recorded Investment	$ 8,575	$ 38,367	$ 10,170	$ 43,660
Number of contracts, troubled debt restructurings subsequently defaulted (in contract) | contract	4	6	4	7
Recorded Investment	$ 3,212	$ 5,358	$ 3,212	$ 5,433
Commercial real estate
Troubled Debt Restructurings
Number of contracts, troubled restructurings (in contract) | contract	6	5	8	7
Pre-Modification Outstanding Recorded Investment	$ 4,507	$ 23,604	$ 4,734	$ 24,342
Post-Modification Outstanding Recorded Investment	$ 4,462	$ 23,604	$ 4,667	$ 24,257
Commercial real estate | Commercial real estate
Troubled Debt Restructurings
Number of contracts, troubled restructurings (in contract) | contract	5	5	6	6
Pre-Modification Outstanding Recorded Investment	$ 3,975	$ 23,604	$ 4,170	$ 23,782
Post-Modification Outstanding Recorded Investment	$ 3,971	$ 23,604	$ 4,164	$ 23,777
Number of contracts, troubled debt restructurings subsequently defaulted (in contract) | contract			0	1
Recorded Investment			$ 0	$ 736
Commercial real estate | Construction
Troubled Debt Restructurings
Number of contracts, troubled restructurings (in contract) | contract	1	0	2	1
Pre-Modification Outstanding Recorded Investment	$ 532	$ 0	$ 564	$ 560
Post-Modification Outstanding Recorded Investment	$ 491	$ 0	$ 503	$ 480
Residential mortgage
Troubled Debt Restructurings
Number of contracts, troubled restructurings (in contract) | contract	2	2	5	5
Pre-Modification Outstanding Recorded Investment	$ 393	$ 549	$ 980	$ 1,170
Post-Modification Outstanding Recorded Investment	$ 389	$ 545	$ 963	$ 1,167
Number of contracts, troubled debt restructurings subsequently defaulted (in contract) | contract			0	1
Recorded Investment			$ 0	$ 153
Consumer
Troubled Debt Restructurings
Number of contracts, troubled restructurings (in contract) | contract			1	0
Pre-Modification Outstanding Recorded Investment			$ 88	$ 0
Post-Modification Outstanding Recorded Investment			$ 85	$ 0

Loans - Risk Category of Loans

Loans - Risk Category of Loans (Details) - Non-PCI Loans - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	$ 13,127,871	$ 11,920,880
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	3,021,524	2,549,065
Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	9,109,645	8,561,851
Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	996,702	809,964
Pass
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	12,867,408	11,631,645
Pass | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	2,853,692	2,375,689
Pass | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	9,019,309	8,447,865
Pass | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	994,407	808,091
Special Mention
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	98,092	110,440
Special Mention | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	62,369	62,071
Special Mention | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	35,200	48,009
Special Mention | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	523	360
Substandard
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	113,003	164,045
Substandard | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	56,095	96,555
Substandard | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	55,136	65,977
Substandard | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	1,772	1,513
Doubtful
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	49,368	14,750
Doubtful | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	49,368	14,750
Doubtful | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	0	0
Doubtful | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	$ 0	$ 0

Loans - Recorded Investment Bas

Loans - Recorded Investment Based on Payment Activity (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Non-PCI Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	$ 5,459,144	$ 5,023,485
Non-PCI Loans | Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	3,051,429	2,717,744
Non-PCI Loans | Consumer | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	358,043	373,631
Non-PCI Loans | Consumer | Automobile
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	1,281,303	1,208,804
Non-PCI Loans | Consumer | Other consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	768,369	723,306
Non-PCI Loans | Performing Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	5,436,838	5,009,210
Non-PCI Loans | Performing Loans | Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	3,032,126	2,705,339
Non-PCI Loans | Performing Loans | Consumer | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	355,239	371,854
Non-PCI Loans | Performing Loans | Consumer | Automobile
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	1,281,223	1,208,731
Non-PCI Loans | Performing Loans | Consumer | Other consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	768,250	723,286
Non-PCI Loans | Non-Performing Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	22,306	14,275
Non-PCI Loans | Non-Performing Loans | Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	19,303	12,405
Non-PCI Loans | Non-Performing Loans | Consumer | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	2,804	1,777
Non-PCI Loans | Non-Performing Loans | Consumer | Automobile
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	80	73
Non-PCI Loans | Non-Performing Loans | Consumer | Other consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	119	20
PCI Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	4,647,701	1,387,215
PCI Loans | Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	477,253	141,291
PCI Loans | Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	178,232	77,497
PCI Loans | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	808,001	192,360
PCI Loans | Commercial real estate | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	2,804,185	934,926
PCI Loans | Commercial real estate | Construction
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	380,030	41,141
PCI Loans | Performing Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	4,584,743	1,349,127
PCI Loans | Performing Loans | Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	470,447	135,745
PCI Loans | Performing Loans | Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	174,411	76,901
PCI Loans | Performing Loans | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	776,200	172,105
PCI Loans | Performing Loans | Commercial real estate | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	2,785,190	924,574
PCI Loans | Performing Loans | Commercial real estate | Construction
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	378,495	39,802
PCI Loans | Non-Performing Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	62,958	38,088
PCI Loans | Non-Performing Loans | Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	6,806	5,546
PCI Loans | Non-Performing Loans | Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	3,821	596
PCI Loans | Non-Performing Loans | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	31,801	20,255
PCI Loans | Non-Performing Loans | Commercial real estate | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	18,995	10,352
PCI Loans | Non-Performing Loans | Commercial real estate | Construction
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	$ 1,535	$ 1,339

Allowance for Credit Losses - A

Allowance for Credit Losses - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016
Receivables [Abstract]
Allowance for loan losses	$ 138,762	$ 132,862	$ 120,856	$ 116,446	$ 115,443	$ 114,419
Allowance for unfunded letters of credit	4,392		3,596
Total allowance for credit losses	$ 143,154		$ 124,452

Allowance for Credit Losses - P

Allowance for Credit Losses - Provision for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Receivables [Abstract]
Provision for loan losses	$ 6,592	$ 3,710	$ 17,294	$ 6,112
Provision for unfunded letters of credit	550	(78)	796	(10)
Total provision for credit losses	$ 7,142	$ 3,632	$ 18,090	$ 6,102

Allowance for Credit Losses -67

Allowance for Credit Losses - Activity in Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	$ 132,862	$ 115,443	$ 120,856	$ 114,419
Loans charged-off	(2,201)	(4,289)	(3,921)	(7,668)
Charged-off loans recovered	1,509	1,582	4,533	3,583
Net recoveries (charge-offs)	(692)	(2,707)	612	(4,085)
Provision for loan losses	6,592	3,710	17,294	6,112
Ending balance	138,762	116,446	138,762	116,446
Commercial and Industrial
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	66,546	51,288	57,232	50,820
Loans charged-off	(642)	(2,910)	(773)	(4,624)
Charged-off loans recovered	819	312	2,926	1,160
Net recoveries (charge-offs)	177	(2,598)	2,153	(3,464)
Provision for loan losses	7,534	2,927	14,872	4,261
Ending balance	74,257	51,617	74,257	51,617
Commercial Real Estate
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	56,679	56,302	54,954	55,851
Loans charged-off	(38)	(139)	(348)	(553)
Charged-off loans recovered	15	640	384	782
Net recoveries (charge-offs)	(23)	501	36	229
Provision for loan losses	(2,844)	(1,348)	(1,178)	(625)
Ending balance	53,812	55,455	53,812	55,455
Residential Mortgage
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	4,100	3,592	3,605	3,702
Loans charged-off	(99)	(229)	(167)	(359)
Charged-off loans recovered	180	235	260	683
Net recoveries (charge-offs)	81	6	93	324
Provision for loan losses	443	588	926	160
Ending balance	4,624	4,186	4,624	4,186
Consumer
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	5,537	4,261	5,065	4,046
Loans charged-off	(1,422)	(1,011)	(2,633)	(2,132)
Charged-off loans recovered	495	395	963	958
Net recoveries (charge-offs)	(927)	(616)	(1,670)	(1,174)
Provision for loan losses	1,459	1,543	2,674	2,316
Ending balance	$ 6,069	$ 5,188	$ 6,069	$ 5,188

Allowance for Credit Losses -68

Allowance for Credit Losses - Allocation of Allowance for Loan Losses and Related Loans by Segment (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Loans	$ 23,234,716	$ 18,331,580
Allowance for loan losses
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	28,508	14,561
Collectively evaluated for impairment	110,254	106,295
Total Loans	138,762	120,856
Loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	156,191	164,166
Collectively evaluated for impairment	18,430,824	16,780,199
Loans | Loans acquired with discounts related to credit quality
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Loans	4,647,701	1,387,215
Commercial and Industrial
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Loans	3,829,525	2,741,425
Commercial and Industrial | Allowance for loan losses
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	24,817	11,044
Collectively evaluated for impairment	49,440	46,188
Total Loans	74,257	57,232
Commercial and Industrial | Loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	87,170	85,499
Collectively evaluated for impairment	2,934,354	2,463,566
Commercial and Industrial | Loans | Loans acquired with discounts related to credit quality
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Loans	808,001	192,360
Commercial Real Estate
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Loans	13,290,562	10,347,882
Commercial Real Estate | Allowance for loan losses
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	2,987	2,735
Collectively evaluated for impairment	50,825	52,219
Total Loans	53,812	54,954
Commercial Real Estate | Loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	54,719	60,851
Collectively evaluated for impairment	10,051,628	9,310,964
Commercial Real Estate | Loans | Loans acquired with discounts related to credit quality
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Loans	3,184,215	976,067
Residential Mortgage
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Loans	3,528,682	2,859,035
Residential Mortgage | Allowance for loan losses
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	632	718
Collectively evaluated for impairment	3,992	2,887
Total Loans	4,624	3,605
Residential Mortgage | Loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	12,849	14,056
Collectively evaluated for impairment	3,038,580	2,703,688
Residential Mortgage | Loans | Loans acquired with discounts related to credit quality
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Loans	477,253	141,291
Consumer
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Loans	2,585,947	2,383,238
Consumer | Allowance for loan losses
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	72	64
Collectively evaluated for impairment	5,997	5,001
Total Loans	6,069	5,065
Consumer | Loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	1,453	3,760
Collectively evaluated for impairment	2,406,262	2,301,981
Consumer | Loans | Loans acquired with discounts related to credit quality
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Loans	$ 178,232	$ 77,497

Goodwill and Other Intangible69

Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 690,637
Goodwill from business combinations	388,255
Goodwill, ending balance	1,078,892
Wealth Management
Goodwill [Roll Forward]
Goodwill, beginning balance	21,218
Goodwill from business combinations	0
Goodwill, ending balance	21,218
Consumer Lending
Goodwill [Roll Forward]
Goodwill, beginning balance	200,103
Goodwill from business combinations	85,649
Goodwill, ending balance	285,752
Commercial Lending
Goodwill [Roll Forward]
Goodwill, beginning balance	316,258
Goodwill from business combinations	238,052
Goodwill, ending balance	554,310
Investment Management
Goodwill [Roll Forward]
Goodwill, beginning balance	153,058
Goodwill from business combinations	64,554
Goodwill, ending balance	$ 217,612

Goodwill and Other Intangible70

Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	$ 169,371		$ 126,621
Accumulated Amortization	(85,251)		(83,643)
Valuation Allowance	(154)		(471)
Net Intangible Assets	83,966		42,507
Loan servicing rights
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	84,956	$ 1,400	79,138
Accumulated Amortization	(59,975)		(57,054)
Valuation Allowance	(154)		(471)
Net Intangible Assets	24,827		21,613
Core deposits
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	80,470	$ 44,600	43,396
Accumulated Amortization	(23,002)		(24,297)
Valuation Allowance	0		0
Net Intangible Assets	57,468		19,099
Other
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	3,945		4,087
Accumulated Amortization	(2,274)		(2,292)
Valuation Allowance	0		0
Net Intangible Assets	$ 1,671		$ 1,795

Goodwill and Other Intangible71

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Jan. 01, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment	$ 0	$ 0	$ 0	$ 0
Finite-Lived Intangible Assets [Line Items]
Gross intangible assets	169,371,000		169,371,000			$ 126,621,000
Amortization of other intangible assets	4,617,000	2,562,000	$ 8,910,000	5,098,000
Core Deposits
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, years			10 years
Gross intangible assets	80,470,000		$ 80,470,000		$ 44,600,000	43,396,000
Loan servicing rights
Finite-Lived Intangible Assets [Line Items]
Gross intangible assets	84,956,000		$ 84,956,000		$ 1,400,000	79,138,000
Other
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, years			20 years
Gross intangible assets	3,945,000		$ 3,945,000			$ 4,087,000
Core Deposits and Other
Finite-Lived Intangible Assets [Line Items]
Impairment of core deposits and other intangibles	$ 0	$ 0	$ 0	$ 0

Goodwill and Other Intangible72

Goodwill and Other Intangible Assets - Future Amortization Expense (Details) $ in Thousands	Jun. 30, 2018USD ($)
Loan Servicing Rights
Finite-Lived Intangible Assets [Line Items]
2,018	$ 3,155
2,019	5,148
2,020	4,160
2,021	3,243
2,022	2,608
Core Deposits
Finite-Lived Intangible Assets [Line Items]
2,018	6,134
2,019	10,961
2,020	9,607
2,021	8,252
2,022	6,898
Other
Finite-Lived Intangible Assets [Line Items]
2,018	125
2,019	235
2,020	220
2,021	206
2,022	$ 191

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	Jan. 01, 2018	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)		5,500,000		5,500,000
Stock-based compensation expense (in USD)		$ 4.2	$ 2.7	$ 12.2	$ 6.9
Stock-based compensation amortization expense unrecognized (in USD)		$ 24.3		$ 24.3
Average remaining vesting period (in years)				2 years 4 months
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options acquired (in shares)	1,800,000
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number acquired outstanding stock awards (in shares)	336,000
Time-based RSUs acquired that remained outstanding (in shares)		179,000		179,000
Number of shares granted during the period (in shares)				446,000	371,000
Award vesting period (in years)				3 years
Average grant date fair value (usd per share)				$ 12.35	$ 11.05
Restricted Stock Units | Growth in Tangible Book Value per Share Plus Dividends
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights as a percentage				75.00%
Restricted Stock Units | Total Shareholder Return as Compared to Our Peer Group
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights as a percentage				25.00%
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted during the period (in shares)				1,200,000	482,000
Award vesting period (in years)				3 years
Average grant date fair value (usd per share)				$ 11.86	$ 11.71
Award vesting rights as a percentage				33.33%
2016 Long-Term Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of acquired outstanding stock awards that remain outstanding (in shares)		936,000		936,000
Weighted average exercise price (in USD per share)		$ 5.49		$ 5.49

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenue from Contract with Customer [Abstract]
Trust and investment services	$ 3,262	$ 2,800	$ 6,492	$ 5,544
Insurance commissions	4,026	4,358	7,847	9,419
Service charges on deposit accounts	6,679	5,342	13,932	10,578
(Losses) gains on securities transactions, net	(36)	22	(801)	(1)
Fees from loan servicing	2,045	1,831	4,268	3,646
Gains on sales of loans, net	7,642	4,791	14,395	8,919
Bank owned life insurance	2,652	1,701	4,415	4,164
Other	11,799	7,985	19,772	12,281
Total non-interest income	$ 38,069	$ 28,830	$ 70,320	$ 54,550

Derivative Instruments and He75

Derivative Instruments and Hedging Activities - Additional Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018USD ($)swap	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)swap	Jun. 30, 2017USD ($)	May 31, 2018USD ($)	Dec. 31, 2017USD ($)
Derivative [Line Items]
Number of credit swaps | swap	13		13
Derivative instrument not designated as hedging instruments, liability	$ 14,300		$ 14,300
Aggregate fair value of net liability position	2,100		2,100
CME
Derivative [Line Items]
Collateral posted with counterparties, net of CME variation margin	4,400		4,400
Interest rate swaps
Derivative [Line Items]
Accumulated net after-tax losses related to effective cash flow hedges	4,300		4,300			$ 8,300
Estimated amount of interest rate derivatives to be reclassified to interest expense			1,700
Cash flow hedge | Interest rate swaps | CME
Derivative [Line Items]
CME variation margins	15,900		15,900
Derivatives designated as hedging instruments
Derivative [Line Items]
Aggregate notional amount of derivative asset					$ 125,000
Derivatives designated as hedging instruments | Cash flow hedge | Interest rate swaps | CME
Derivative [Line Items]
CME variation margins	796		796			9,500
Derivatives not designated as hedging instruments
Derivative [Line Items]
Aggregate notional amount of derivative asset	73,400		73,400
Derivatives not designated as hedging instruments | Interest rate swaps | CME
Derivative [Line Items]
CME variation margins	8,200		8,200			$ 951
Noninterest Income | Fair value hedge | Interest rate swaps
Derivative [Line Items]
Fee income related to derivative interest rate swaps executed with commercial loan customers	$ 4,400	$ 4,100	$ 7,700	$ 4,800

Derivative Instruments and He76

Derivative Instruments and Hedging Activities - Balance Sheet Disclosures (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Interest rate swaps
Derivative [Line Items]
Other Assets	$ 0	$ 0
Other Liabilities	37,586	24,212
Derivatives designated as hedging instruments
Derivative [Line Items]
Other Assets	0	650
Other Liabilities	451	718
Notional Amount	489,657	614,775
Derivatives designated as hedging instruments | Cash flow hedge | Interest rate swaps
Derivative [Line Items]
Other Assets	0	650
Other Liabilities	32	81
Notional Amount	482,000	607,000
Derivatives designated as hedging instruments | Fair value hedge | Interest rate swaps
Derivative [Line Items]
Other Assets	0	0
Other Liabilities	419	637
Notional Amount	7,657	7,775
Derivatives not designated as hedging instruments
Derivative [Line Items]
Other Assets	30,132	25,767
Other Liabilities	37,451	23,612
Notional Amount	3,123,855	1,800,238
Derivatives not designated as hedging instruments | Interest rate swaps
Derivative [Line Items]
Other Assets	29,834	25,696
Other Liabilities	37,135	23,494
Notional Amount	2,996,861	1,687,005
Derivatives not designated as hedging instruments | Mortgage banking derivatives
Derivative [Line Items]
Other Assets	298	71
Other Liabilities	316	118
Notional Amount	$ 126,994	$ 113,233

Derivative Instruments and He77

Derivative Instruments and Hedging Activities - Interest Rate Derivatives Designated as Cash Flow Hedges (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
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	$ (69,366)	$ (42,187)	$ (129,263)	$ (78,774)
Amount of gain recognized in other comprehensive (loss) income	637	(1,482)	3,388	(1,265)
Reclassification Out of Accumulated Other Comprehensive Income (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	$ (866)	$ (2,314)	$ (2,317)	$ (4,832)

Derivative Instruments and He78

Derivative Instruments and Hedging Activities - Gains (Losses) on Interest Rate Derivatives Designated as Fair Value Hedges (Details) - Fair value hedge - Interest income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Interest rate swaps
Gain Loss On Fair Value Hedges Recognized In Earnings [Line Items]
Gain (loss) related to derivative interest rate swaps	$ 88	$ 52	$ 219	$ 149
Loans and borrowings | Derivatives designated as hedging instruments:
Gain Loss On Fair Value Hedges Recognized In Earnings [Line Items]
Gain (loss) related to hedged loans	$ (88)	$ (52)	$ (219)	$ (149)

Derivative Instruments and He79

Derivative Instruments and Hedging Activities Derivative Instruments and Hedging Activities - Interest Rate Derivatives Designated as Hedges (Details) - Fair value hedge - Derivatives designated as hedging instruments - Interest rate swaps $ in Thousands	Jun. 30, 2018USD ($)
Derivative [Line Items]
Loans, carrying amount	$ 8,076
Loans, cumulative fair value adjustment	$ 419

Derivative Instruments and He80

Derivative Instruments and Hedging Activities - (Losses) Gains Related to Derivatives Not Designated as Hedges (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Non-designated hedge interest rate derivatives
Other non-interest expense	$ 230	$ 70	$ 448	$ (790)

Balance Sheet Offsetting (Detai

Balance Sheet Offsetting (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Offsetting Liabilities
Gross Amounts Recognized	$ 187,586	$ 224,212
Gross Amounts Offset	0	0
Net Amounts Presented	187,586	224,212
Gross Amounts Not Offset, Financial Instruments	(336)	(5,376)
Gross Amounts Not Offset, Cash Collateral	(151,645)	(208,141)
Net Amount	35,605	10,695
Repurchase agreements
Offsetting Repurchase Agreement Liabilities
Gross Amounts Recognized	150,000	200,000
Gross Amounts Offset	0	0
Net Amounts Presented	150,000	200,000
Gross Amounts Not Offset, Financial Instruments	0	0
Gross Amounts Not Offset, Cash Collateral	(150,000)	(200,000)
Net Amount	0	0
Interest rate swaps
Offsetting Assets
Gross Amounts Recognized	29,834	26,346
Gross Amounts Offset	0	0
Net Amounts Presented	29,834	26,346
Gross Amounts Not Offset, Financial Instruments	(336)	(5,376)
Gross Amounts Not Offset, Cash Collateral	0	0
Net Amount	29,498	20,970
Offsetting Liabilities
Gross Amounts Recognized	37,586	24,212
Gross Amounts Offset	0	0
Net Amounts Presented	37,586	24,212
Gross Amounts Not Offset, Financial Instruments	(336)	(5,376)
Gross Amounts Not Offset, Cash Collateral	(1,645)	(8,141)
Net Amount	$ 35,605	$ 10,695

Tax Credit Investments - Balanc

Tax Credit Investments - Balance Sheet Disclosures (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Other Assets
Other Assets
Affordable housing tax credit investments, net	$ 40,226	$ 22,135
Other tax credit investments, net	31,129	42,015
Total tax credit investments, net	71,355	64,150
Other Liabilities
Other Liabilities
Unfunded affordable housing tax credit commitments	4,978	3,690
Unfunded other tax credit commitments	4,773	15,020
Total unfunded tax credit commitments	$ 9,751	$ 18,710

Tax Credit Investments - Income

Tax Credit Investments - Income Statement Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Components of Income Tax Expense
Affordable housing tax credits and other tax benefits	$ 1,429	$ 1,271	$ 3,250	$ 2,555
Other tax credit investment credits and tax benefits	5,680	8,680	11,165	14,966
Total reduction in income tax expense	7,109	9,951	14,415	17,521
Non-Interest Expenses
Amortization of Tax Credit Investments
Affordable housing tax credit investment losses	(319)	358	667	754
Affordable housing tax credit investment impairment losses	515	130	1,102	254
Other tax credit investment losses	1,253	1,060	1,790	1,827
Other tax credit investment impairment losses	3,021	6,184	6,185	10,221
Total amortization of tax credit investments recorded in non-interest expense	$ 4,470	$ 7,732	$ 9,744	$ 13,056