Valley National Bancorp (VLY) 10-Q 8 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Nov. 07, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Period Period Focus	Q3
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 Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding (in shares)		331,491,620

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Assets
Cash and due from banks	$ 262,653	$ 243,310
Interest bearing deposits with banks	93,726	172,800
Investment securities:
Held to maturity (fair value of $2,016,354 at September 30, 2018 and $1,837,620 at December 31, 2017)	2,072,363	1,842,691
Available for sale	1,749,001	1,493,905
Total investment securities	3,821,364	3,336,596
Loans held for sale, at fair value	31,675	15,119
Loans	24,111,290	18,331,580
Less: Allowance for loan losses	(144,963)	(120,856)
Net loans	23,966,327	18,210,724
Premises and equipment, net	341,060	287,705
Bank owned life insurance	438,238	386,079
Accrued interest receivable	92,666	73,990
Goodwill	1,085,710	690,637
Other intangible assets, net	80,771	42,507
Other assets	667,758	542,839
Total Assets	30,881,948	24,002,306
Deposits:
Non-interest bearing	6,135,001	5,224,928
Interest bearing:
Savings, NOW and money market	11,036,700	9,365,013
Time	5,416,571	3,563,521
Total deposits	22,588,272	18,153,462
Short-term borrowings	2,968,431	748,628
Long-term borrowings	1,728,805	2,315,819
Junior subordinated debentures issued to capital trusts	55,283	41,774
Accrued expenses and other liabilities	238,221	209,458
Total Liabilities	27,579,012	21,469,141
Shareholders’ Equity
Common stock (no par value, authorized 450,000,000 shares; issued 331,622,970 shares at September 30, 2018 and 264,498,643 shares at December 31, 2017)	116,154	92,727
Surplus	2,793,158	2,060,356
Retained earnings	262,368	216,733
Accumulated other comprehensive loss	(76,944)	(46,005)
Treasury stock, at cost (121,546 common shares at September 30, 2018 and 29,792 common shares at December 31, 2017)	(1,491)	(337)
Total Shareholders’ Equity	3,302,936	2,533,165
Total Liabilities and Shareholders’ Equity	30,881,948	24,002,306
Series A
Shareholders’ Equity
Preferred stock, no par value; authorized 50,000,000	111,590	111,590
Series B
Shareholders’ Equity
Preferred stock, no par value; authorized 50,000,000	$ 98,101	$ 98,101

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Held to maturity, fair value	$ 2,016,354	$ 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)	331,622,970	264,498,643
Treasury stock, shares (in shares)	121,546	29,792
Series A
Preferred stock, shares issued (in shares)	4,600,000	4,600,000
Series B
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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Interest Income
Interest and fees on loans	$ 265,870	$ 185,864	$ 751,146	$ 541,937
Interest and dividends on investment securities:
Taxable	21,362	17,922	64,907	54,439
Tax-exempt	5,023	3,752	16,383	11,726
Dividends	3,981	2,657	9,648	6,945
Interest on federal funds sold and other short-term investments	805	546	2,570	1,156
Total interest income	297,041	210,741	844,654	616,203
Interest on deposits:
Savings, NOW and money market	28,775	15,641	75,848	38,538
Time	20,109	10,852	51,360	30,571
Interest on short-term borrowings	15,193	5,161	31,838	14,578
Interest on long-term borrowings and junior subordinated debentures	16,164	15,142	50,458	41,883
Total interest expense	80,241	46,796	209,504	125,570
Net Interest Income	216,800	163,945	635,150	490,633
Provision for credit losses	6,552	1,640	24,642	7,742
Net Interest Income After Provision for Credit Losses	210,248	162,305	610,508	482,891
Non-Interest Income
Insurance commissions	3,646	4,519	11,493	13,938
(Losses) gains on securities transactions, net	(79)	6	(880)	5
Fees from loan servicing	2,573	1,895	6,841	5,541
Gains on sales of loans, net	3,748	5,520	18,143	14,439
Bank owned life insurance	2,545	1,541	6,960	5,705
Other	6,865	4,896	26,637	17,177
Total non-interest income	29,038	26,997	99,358	81,547
Non-Interest Expense
Salary and employee benefits expense	80,778	69,286	253,014	198,777
Net occupancy and equipment expense	26,295	22,756	81,120	68,400
FDIC insurance assessment	7,421	4,603	20,963	14,658
Amortization of other intangible assets	4,697	2,498	13,607	7,596
Professional and legal fees	6,638	11,110	29,022	20,107
Amortization of tax credit investments	5,412	8,389	15,156	21,445
Telecommunication expense	3,327	2,464	9,936	7,830
Other	17,113	11,459	52,531	33,943
Total non-interest expense	151,681	132,565	475,349	372,756
Income Before Income Taxes	87,605	56,737	234,517	191,682
Income tax expense	18,046	17,088	50,191	55,873
Net Income	69,559	39,649	184,326	135,809
Dividends on preferred stock	3,172	2,683	9,516	6,277
Net Income Available to Common Shareholders	$ 66,387	$ 36,966	$ 174,810	$ 129,532
Earnings Per Common Share:
Basic (usd per share)	$ 0.20	$ 0.14	$ 0.53	$ 0.49
Diluted (usd per share)	0.20	0.14	0.53	0.49
Cash Dividends Declared per Common Share (usd per share)	$ 0.11	$ 0.11	$ 0.33	$ 0.33
Weighted Average Number of Common Shares Outstanding:
Basic (in shares)	331,486,500	264,058,174	331,180,213	263,938,786
Diluted (in shares)	333,000,242	264,936,220	332,694,080	264,754,845
Trust and investment services
Non-Interest Income
Revenue from contracts with customer	$ 3,143	$ 3,062	$ 9,635	$ 8,606
Service charges on deposit accounts
Non-Interest Income
Revenue from contracts with customer	$ 6,597	$ 5,558	$ 20,529	$ 16,136

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 69,559	$ 39,649	$ 184,326	$ 135,809
Unrealized gains and losses on available for sale securities
Net (losses) gains arising during the period	(8,675)	1,457	(36,065)	4,660
Less reclassification adjustment for net losses (gains) included in net income	52	(4)	630	(4)
Total	(8,623)	1,453	(35,435)	4,656
Non-credit impairment losses on available for sale securities
Net change in non-credit impairment losses on securities	(8)	(223)	(64)	(89)
Less reclassification adjustment for accretion of credit impairment losses included in net income	5	(40)	1	(166)
Total	(3)	(263)	(63)	(255)
Unrealized gains and losses on derivatives (cash flow hedges)
Net gains (losses) on derivatives arising during the period	221	198	2,636	(548)
Less reclassification adjustment for net losses included in net income	472	1,132	2,127	3,963
Total	693	1,330	4,763	3,415
Defined benefit pension plan
Amortization of net loss	113	59	337	177
Total other comprehensive (loss) income	(7,820)	2,579	(30,398)	7,993
Total comprehensive income	$ 61,739	$ 42,228	$ 153,928	$ 143,802

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net income	$ 184,326	$ 135,809
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	20,367	18,408
Stock-based compensation	15,840	9,563
Provision for credit losses	24,642	7,742
Net amortization of premiums and accretion of discounts on securities and borrowings	26,262	17,476
Amortization of other intangible assets	13,607	7,596
Losses (gains) on securities transactions, net	880	(5)
Proceeds from sales of loans held for sale	591,583	484,102
Gains on sales of loans, net	(18,143)	(14,439)
Originations of loans held for sale	(307,623)	(201,393)
Losses on sales of assets, net	2,122	359
Net change in:
Cash surrender value of bank owned life insurance	(6,960)	(5,705)
Accrued interest receivable	(6,553)	(5,247)
Other assets	(39,120)	(7,052)
Accrued expenses and other liabilities	(5,941)	(17,465)
Net cash provided by operating activities	495,289	429,749
Cash flows from investing activities:
Net loan originations and purchases	(2,324,977)	(1,200,913)
Investment securities held to maturity:
Purchases	(220,192)	(127,318)
Maturities, calls and principal repayments	195,448	219,967
Investment securities available for sale:
Purchases	(239,226)	(293,788)
Sales	38,625	0
Maturities, calls and principal repayments	194,312	144,221
Death benefit proceeds from bank owned life insurance	2,546	10,661
Proceeds from sales of real estate property and equipment	6,665	7,717
Purchases of real estate property and equipment	(16,880)	(13,341)
Cash and cash equivalents acquired in acquisition	156,612	0
Net cash used in investing activities	(2,207,067)	(1,252,794)
Cash flows from financing activities:
Net change in deposits	869,967	(417,942)
Net change in short-term borrowings	1,569,824	401,749
Proceeds from issuance of long-term borrowings, net	0	965,000
Repayments of long-term borrowings	(675,682)	(185,000)
Proceeds from issuance of preferred stock, net	0	98,101
Cash dividends paid to preferred shareholders	(9,516)	(6,277)
Cash dividends paid to common shareholders	(102,414)	(84,143)
Purchase of common shares to treasury	(2,780)	(2,284)
Common stock issued, net	2,648	5,166
Net cash provided by financing activities	1,652,047	774,370
Net change in cash and cash equivalents	(59,731)	(48,675)
Cash and cash equivalents at beginning of year	416,110	392,501
Cash and cash equivalents at end of period	356,379	343,826
Cash payments for:
Interest on deposits and borrowings	205,821	125,433
Federal and state income taxes	47,217	27,003
Supplemental schedule of non-cash investing activities:
Transfer of loans to other real estate owned	697	7,147
Transfer of loans to loans held for sale	289,633	225,541
Non-cash assets acquired:
Loans	3,735,162	0
Premises and equipment	62,066	0
Bank owned life insurance	49,052	0
Accrued interest receivable	12,123	0
Goodwill	395,073	0
Other intangible assets	45,906	0
Other assets	100,836	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
Net cash and cash equivalents acquired in acquisition	156,612	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	9 Months Ended
	Sep. 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 September 30, 2018 and for all periods presented have been made. The results of operations for the three and nine months ended on September 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, 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. 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	9 Months Ended
	Sep. 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 $1.3 million and $18.1 million for the three and nine months ended September 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 3,735,162 Premises and equipment 62,066 Bank owned life insurance 49,052 Accrued interest receivable 12,123 Goodwill 395,073 Other intangible assets 45,906 Other assets: Deferred taxes 11,400 Other real estate owned 4,073 FHLB and FRB stock 38,809 Tax credit investments 20,138 Other 26,416 Total other assets 100,836 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. During the third quarter of 2018, Valley revised the estimated fair values of the acquired assets as of the acquisition date as the result of additional information obtained. The adjustments related to the fair value of certain purchased credit-impaired (PCI) loans and deferred tax assets which, on a combined basis, resulted in a $6.8 million increase in goodwill (see Note 10 for amount of goodwill as allocated to Valley's business segments). While Valley continues to analyze the acquired assets and liabilities, it does not expect any 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	9 Months Ended
	Sep. 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 nine months ended September 30, 2018 and 2017 : Three Months Ended Nine Months Ended 2018 2017 2018 2017 (in thousands, except for share data) Net income available to common shareholders $ 66,387 $ 36,966 $ 174,810 $ 129,532 Basic weighted average number of common shares outstanding 331,486,500 264,058,174 331,180,213 263,938,786 Plus: Common stock equivalents 1,513,742 878,046 1,513,867 816,059 Diluted weighted average number of common shares outstanding 333,000,242 264,936,220 332,694,080 264,754,845 Earnings per common share: Basic $ 0.20 $ 0.14 $ 0.53 $ 0.49 Diluted 0.20 0.14 0.53 0.49 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 nine months ended September 30, 2018 and 2017 , respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following tables present the after-tax changes in the balances of each component of accumulated other comprehensive loss for the three and nine months ended September 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 June 30, 2018 $ (39,296 ) $ (440 ) $ (4,329 ) $ (25,059 ) $ (69,124 ) Other comprehensive (loss) income before reclassifications (8,675 ) (8 ) 221 — (8,462 ) Amounts reclassified from other comprehensive (loss) income 52 5 472 113 642 Other comprehensive (loss) income, net (8,623 ) (3 ) 693 113 (7,820 ) Balance at September 30, 2018 $ (47,919 ) $ (443 ) $ (3,636 ) $ (24,946 ) $ (76,944 ) 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 (36,065 ) (64 ) 2,636 — (33,493 ) Amounts reclassified from other comprehensive (loss) income 630 1 2,127 337 3,095 Other comprehensive (loss) income, net (35,435 ) (63 ) 4,763 337 (30,398 ) Balance at September 30, 2018 $ (47,919 ) $ (443 ) $ (3,636 ) $ (24,946 ) $ (76,944 ) 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 nine months ended September 30, 2018 and 2017 : Amounts Reclassified from Accumulated Other Comprehensive Loss Three Months Ended Nine 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 $ (79 ) $ 6 $ (880 ) $ 5 (Losses) gains on securities transactions, net Tax effect 27 (2 ) 250 (1 ) Total net of tax (52 ) 4 (630 ) 4 Non-credit impairment losses on AFS securities before tax: Accretion of credit loss impairment due to an increase in expected cash flows (7 ) 67 (1 ) 283 Interest and dividends on investment securities (taxable) Tax effect 2 (27 ) — (117 ) Total net of tax (5 ) 40 (1 ) 166 Unrealized losses on derivatives (cash flow hedges) before tax (660 ) (1,930 ) (2,977 ) (6,762 ) Interest expense Tax effect 188 798 850 2,799 Total net of tax (472 ) (1,132 ) (2,127 ) (3,963 ) Defined benefit pension plan: Amortization of net loss (157 ) (101 ) (471 ) (303 ) * Tax effect 44 42 134 126 Total net of tax (113 ) (59 ) (337 ) (177 ) Total reclassifications, net of tax $ (642 ) $ (1,147 ) $ (3,095 ) $ (3,970 ) * 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	9 Months Ended
	Sep. 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. 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement" eliminates, amends and adds disclosure requirements for fair value measurements. In addition, the amendments eliminate the term "at a minimum" from the disclosure requirements under Topic 820 to promote an appropriate exercise of discretion to consider materiality when evaluating required disclosures. ASU No. 2018-13 is effective for all entities for reporting periods beginning January 1, 2020 with early adoption permitted. Early adoption is allowed for any period for which the financial statements have not been issued yet or have not been made available for issuance. As a result, Valley elected to early adopt ASU No. 2018-13 for the third quarter ended September 30, 2018. The adoption resulted in the removal of Level 3 assets roll-forward and qualitative and quantitative disclosures regarding valuation techniques and unobservable inputs used to measure the fair value of Level 3 assets from Note 6 due to the immaterial amount of such assets at September 30, 2018. ASU No. 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities" amends the hedge accounting recognition and presentation requirements to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. ASU No. 2017-12 is effective for the annual and interim reporting periods beginning January 1, 2019 with early adoption permitted. 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. 2018-15 “Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract” requires implementation costs incurred in cloud computing arrangements which do not include a software license to be deferred and expensed over the term of the hosting arrangement. The implementation costs should be deferred using the Topic 350-40 “Internal-Use Software” model to determine which implementation costs are eligible to be capitalized based on the project stage and nature of the cost. The expense should be presented in the same income statement line item as the fees associated with the cloud computing arrangement. ASU No. 2018-15 will be effective for public entities annual and interim reporting periods beginning January 1, 2020 with early adoption permitted. ASU No. 2018-15 should be applied either retrospectively or prospectively. However, prospective transition would be applied to any eligible costs incurred on or after the adoption date related to arrangements entered before and after the adoption date. During the fourth quarter of 2018, Valley adopted ASU No. 2017-08 on a prospective basis. The adoption of ASU No. 2017-08 is not expected to have a significant impact on Valley's consolidated financial statements. 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 is 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, including the accumulated 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. Based upon current estimates, Valley expects to record right of use assets ranging from $200 million to $250 million (net of the reversal of the current deferred rent liability) and lease obligations ranging from $230 million to $280 million as of January 1, 2019. The estimated range of additional right of use assets is expected to negatively impact total risk-based capital by approximately 10 to 12 basis points and tier 1 capital by approximately 7 to 9 basis points. Actual results of our implementation may differ from the current estimated ranges due to several factors, including, but not limited to changes in our incremental borrowing rates at the date of adoption, expectations regarding exercise of certain lease renewal periods, lease modifications and early terminations, new leases and contracts, or the discovery of additional existing or embedded leases during the fourth quarter of 2018.

Fair Value Measurement of Asset

Fair Value Measurement of Assets and Liabilities	9 Months Ended
	Sep. 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 September 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). September 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 $ 48,363 $ 48,363 $ — $ — U.S. government agency securities 36,513 — 36,513 — Obligations of states and political subdivisions 205,237 — 205,237 — Residential mortgage-backed securities 1,412,849 — 1,406,671 6,178 Trust preferred securities 1,590 — 1,590 — Corporate and other debt securities 44,449 7,587 36,862 — Total available for sale 1,749,001 55,950 1,686,873 6,178 Loans held for sale (1) 31,675 — 31,675 — Other assets (2) 28,539 — 28,539 — Total assets $ 1,809,215 $ 55,950 $ 1,747,087 $ 6,178 Liabilities Other liabilities (2) $ 44,917 $ — $ 44,917 $ — Total liabilities $ 44,917 $ — $ 44,917 $ — Non-recurring fair value measurements: Collateral dependent impaired loans (3) $ 36,957 $ — $ — $ 36,957 Loan servicing rights 373 — — 373 Foreclosed assets 4,450 — — 4,450 Total $ 41,780 $ — $ — $ 41,780 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 $31.4 million and $14.8 million at September 30, 2018 and December 31, 2017 , respectively. (2) Derivative financial instruments are included in this category. (3) Excludes PCI loans. 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. 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 September 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 September 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 September 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 September 30, 2018 , certain appraisals were discounted based on specific market data by location and property type. During the quarter ended September 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. There were no impaired collateral dependent loan charge-offs to the allowance for loan losses for the three months ended September 30, 2018 and 2017 . The collateral dependent loan charge-offs to the allowance for loan losses were immaterial for the nine months ended September 30, 2018 as compared to $2.1 million for the nine months ended September 30, 2017 . At September 30, 2018 , collateral dependent impaired loans with a total recorded investment of $60.2 million were reduced by specific valuation allowance allocations totaling $23.2 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 September 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 $48 thousand and $365 thousand for the three and nine months ended September 30, 2018 , respectively, and $134 thousand and $185 thousand for the three and nine months ended September 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 September 30, 2018 . At September 30, 2018 , foreclosed assets included $4.5 million of assets that were measured at fair value upon initial recognition or subsequently re-measured during the quarter ended September 30, 2018 . The foreclosed assets charge-offs to the allowance for the loan losses totaled $267 thousand and $536 thousand for the three months ended September 30, 2018 and 2017 , respectively, and $1.5 million and $1.5 million for the nine months ended September 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 $245 thousand for the three months ended September 30, 2018 , and $390 thousand and $290 thousand for the nine months ended September 30, 2018 and 2017 , respectively. There were no losses on re-measurement during the three months ended September 30, 2017 . 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 September 30, 2018 and December 31, 2017 were as follows: Fair Value Hierarchy September 30, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value (in thousands) Financial assets Cash and due from banks Level 1 $ 262,653 $ 262,653 $ 243,310 $ 243,310 Interest bearing deposits with banks Level 1 93,726 93,726 172,800 172,800 Investment securities held to maturity: U.S. Treasury securities Level 1 138,557 140,269 138,676 145,257 U.S. government agency securities Level 2 8,846 8,541 9,859 9,981 Obligations of states and political subdivisions Level 2 596,360 593,423 465,878 477,479 Residential mortgage-backed securities Level 2 1,259,772 1,211,756 1,131,945 1,118,044 Trust preferred securities Level 2 37,328 31,153 49,824 40,088 Corporate and other debt securities Level 2 31,500 31,212 46,509 46,771 Total investment securities held to maturity 2,072,363 2,016,354 1,842,691 1,837,620 Net loans Level 3 23,966,327 23,104,688 18,210,724 17,562,153 Accrued interest receivable Level 1 92,666 92,666 73,990 73,990 Federal Reserve Bank and Federal Home Loan Bank stock (1) Level 1 271,905 271,905 178,668 178,668 Financial liabilities Deposits without stated maturities Level 1 17,171,701 17,171,701 14,589,941 14,589,941 Deposits with stated maturities Level 2 5,416,571 5,351,921 3,563,521 3,465,373 Short-term borrowings Level 1 2,968,431 2,786,568 748,628 679,316 Long-term borrowings Level 2 1,728,805 1,639,788 2,315,819 2,453,797 Junior subordinated debentures issued to capital trusts Level 2 55,283 47,715 41,774 37,289 Accrued interest payable (2) Level 1 17,844 17,844 14,161 14,161 (1) Included in other assets. (2) Included in accrued expenses and other liabilities.

Investment Securities

Investment Securities	9 Months Ended
	Sep. 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 September 30, 2018 and December 31, 2017 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) September 30, 2018 U.S. Treasury securities $ 138,557 $ 1,853 $ (141 ) $ 140,269 U.S. government agency securities 8,846 — (305 ) 8,541 Obligations of states and political subdivisions: Obligations of states and state agencies 347,775 3,717 (6,970 ) 344,522 Municipal bonds 248,585 2,561 (2,245 ) 248,901 Total obligations of states and political subdivisions 596,360 6,278 (9,215 ) 593,423 Residential mortgage-backed securities 1,259,772 1,573 (49,589 ) 1,211,756 Trust preferred securities 37,328 38 (6,213 ) 31,153 Corporate and other debt securities 31,500 47 (335 ) 31,212 Total investment securities held to maturity $ 2,072,363 $ 9,789 $ (65,798 ) $ 2,016,354 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 September 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) September 30, 2018 U.S. Treasury securities $ 34,660 $ (141 ) $ — $ — $ 34,660 $ (141 ) U.S. government agency securities 8,541 (305 ) — — 8,541 (305 ) Obligations of states and political subdivisions: Obligations of states and state agencies 129,321 (3,414 ) 48,862 (3,556 ) 178,183 (6,970 ) Municipal bonds 89,065 (2,208 ) 528 (37 ) 89,593 (2,245 ) Total obligations of states and political subdivisions 218,386 (5,622 ) 49,390 (3,593 ) 267,776 (9,215 ) Residential mortgage-backed securities 467,711 (9,928 ) 662,345 (39,661 ) 1,130,056 (49,589 ) Trust preferred securities — — 29,761 (6,213 ) 29,761 (6,213 ) Corporate and other debt securities 15,386 (114 ) 4,779 (221 ) 20,165 (335 ) Total $ 744,684 $ (16,110 ) $ 746,275 $ (49,688 ) $ 1,490,959 $ (65,798 ) 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 409 at September 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 September 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 September 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 September 30, 2018 . As of September 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 $1.2 billion . The contractual maturities of investments in debt securities held to maturity at September 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. September 30, 2018 Amortized Cost Fair Value (in thousands) Due in one year $ 21,825 $ 21,850 Due after one year through five years 231,676 233,954 Due after five years through ten years 295,711 300,013 Due after ten years 263,379 248,781 Residential mortgage-backed securities 1,259,772 1,211,756 Total investment securities held to maturity $ 2,072,363 $ 2,016,354 Actual maturities of debt securities may differ from those presented above since certain obligations provide the issuer the right to call or prepay the obligation prior to scheduled maturity without penalty. The weighted-average remaining expected life for residential mortgage-backed securities held to maturity was 6.8 years at September 30, 2018 . Available for Sale The amortized cost, gross unrealized gains and losses and fair value of securities available for sale at September 30, 2018 and December 31, 2017 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) September 30, 2018 U.S. Treasury securities $ 50,980 $ — $ (2,617 ) $ 48,363 U.S. government agency securities 37,618 67 (1,172 ) 36,513 Obligations of states and political subdivisions: Obligations of states and state agencies 106,881 41 (3,344 ) 103,578 Municipal bonds 103,631 137 (2,109 ) 101,659 Total obligations of states and political subdivisions 210,512 178 (5,453 ) 205,237 Residential mortgage-backed securities 1,470,565 1,304 (59,020 ) 1,412,849 Trust preferred securities 1,789 — (199 ) 1,590 Corporate and other debt securities 45,063 134 (748 ) 44,449 Total investment securities available for sale $ 1,816,527 $ 1,683 $ (69,209 ) $ 1,749,001 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 September 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) September 30, 2018 U.S. Treasury securities $ 897 $ (16 ) $ 47,467 $ (2,601 ) $ 48,364 $ (2,617 ) U.S. government agency securities 5,502 (77 ) 23,561 (1,095 ) 29,063 (1,172 ) Obligations of states and political subdivisions: Obligations of states and state agencies 86,962 (2,850 ) 12,297 (494 ) 99,259 (3,344 ) Municipal bonds 58,259 (1,205 ) 22,850 (904 ) 81,109 (2,109 ) Total obligations of states and political subdivisions 145,221 (4,055 ) 35,147 (1,398 ) 180,368 (5,453 ) Residential mortgage-backed securities 667,551 (19,418 ) 723,522 (39,602 ) 1,391,073 (59,020 ) Trust preferred securities — — 1,590 (199 ) 1,590 (199 ) Corporate and other debt securities 21,317 (319 ) 10,473 (429 ) 31,790 (748 ) Total $ 840,488 $ (23,885 ) $ 841,760 $ (45,324 ) $ 1,682,248 $ (69,209 ) 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 September 30, 2018 was 572 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 September 30, 2018 largely related to several investment grade residential mortgage-backed securities mainly issued by Ginnie Mae, Fannie Mae, and Freddie Mac. As of September 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 $1.1 billion . The contractual maturities of debt securities available for sale at September 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. September 30, 2018 Amortized Cost Fair Value (in thousands) Due in one year $ 9,831 $ 9,893 Due after one year through five years 128,006 123,837 Due after five years through ten years 78,226 77,112 Due after ten years 129,899 125,310 Residential mortgage-backed securities 1,470,565 1,412,849 Total investment securities available for sale $ 1,816,527 $ 1,749,001 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 7.1 years at September 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 September 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 nine months ended September 30, 2018 and 2017 . Management does not believe that any individual unrealized loss as of September 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. At September 30, 2018 , four previously impaired private label mortgage-backed securities had a combined amortized cost and fair value of $6.8 million and $6.2 million , respectively. Realized Gains and Losses Net losses on securities transactions totaled $79 thousand and $880 thousand for the three and nine months ended September 30, 2018 , respectively. The net losses on securities transactions for the nine months ended September 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 certain municipal securities acquired from USAB. Net gains and losses on securities transactions were immaterial for the three and nine months ended September 30, 2017 .

Loans

Loans	9 Months Ended
	Sep. 30, 2018
Receivables [Abstract]
Loans	Loans The detail of the loan portfolio as of September 30, 2018 and December 31, 2017 was as follows: September 30, 2018 December 31, 2017 Non-PCI Loans PCI Loans* Total Non-PCI Loans PCI Loans* Total (in thousands) Loans: Commercial and industrial $ 3,243,622 $ 771,658 $ 4,015,280 $ 2,549,065 $ 192,360 $ 2,741,425 Commercial real estate: Commercial real estate 9,607,279 2,643,952 12,251,231 8,561,851 934,926 9,496,777 Construction 1,022,332 393,927 1,416,259 809,964 41,141 851,105 Total commercial real estate loans 10,629,611 3,037,879 13,667,490 9,371,815 976,067 10,347,882 Residential mortgage 3,331,985 450,987 3,782,972 2,717,744 141,291 2,859,035 Consumer: Home equity 366,941 154,856 521,797 373,631 72,649 446,280 Automobile 1,288,500 402 1,288,902 1,208,804 98 1,208,902 Other consumer 820,596 14,253 834,849 723,306 4,750 728,056 Total consumer loans 2,476,037 169,511 2,645,548 2,305,741 77,497 2,383,238 Total loans $ 19,681,255 $ 4,430,035 $ 24,111,290 $ 16,944,365 $ 1,387,215 $ 18,331,580 * PCI loans include covered loans (mostly consisting of residential mortgage loans) totaling $29.1 million and $38.7 million at September 30, 2018 and December 31, 2017 , respectively. Total loans (excluding PCI covered loans) include net unearned premiums and deferred loan costs of $16.7 million and $22.2 million at September 30, 2018 and December 31, 2017 , respectively. The outstanding balances (representing contractual balances owed to Valley) for PCI loans totaled $4.6 billion and $1.5 billion at September 30, 2018 and December 31, 2017 , respectively. Valley transferred $289.6 million of residential mortgage loans from the loan portfolio to loans held for sale during the nine months ended September 30, 2018 as compared to $225.5 million of loans transferred during the nine months ended September 30, 2017 . There were no other sales of loans from the held for investment portfolio during the nine months ended September 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) (103,618 ) Expected cash flows to be collected 4,209,370 Interest component of expected cash flows (accretable yield) (474,208 ) Fair value of acquired loans $ 3,735,162 The following table presents changes in the accretable yield for PCI loans during the three and nine months ended September 30, 2018 and 2017 : Three Months Ended Nine Months Ended 2018 2017 2018 2017 (in thousands) Balance, beginning of period $ 630,550 $ 246,278 $ 282,009 $ 294,514 Acquisition — — 474,208 — Accretion (54,367 ) (20,626 ) (180,034 ) (68,862 ) Net increase in expected cash flows 23,983 — 23,983 — Balance, end of period $ 600,166 $ 225,652 $ 600,166 $ 225,652 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 September 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) September 30, 2018 Commercial and industrial $ 9,462 $ 1,431 $ 1,618 $ 52,929 $ 65,440 $ 3,178,182 $ 3,243,622 Commercial real estate: Commercial real estate 3,387 2,502 27 7,103 13,019 9,594,260 9,607,279 Construction 15,576 36 — — 15,612 1,006,720 1,022,332 Total commercial real estate loans 18,963 2,538 27 7,103 28,631 10,600,980 10,629,611 Residential mortgage 10,058 3,270 1,877 16,083 31,288 3,300,697 3,331,985 Consumer loans: Home equity 506 265 — 2,060 2,831 364,110 366,941 Automobile 5,950 619 261 72 6,902 1,281,598 1,288,500 Other consumer 987 365 21 116 1,489 819,107 820,596 Total consumer loans 7,443 1,249 282 2,248 11,222 2,464,815 2,476,037 Total $ 45,926 $ 8,488 $ 3,804 $ 78,363 $ 136,581 $ 19,544,674 $ 19,681,255 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 information about impaired loans by loan portfolio class at September 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) September 30, 2018 Commercial and industrial $ 5,294 $ 81,319 $ 86,613 $ 91,998 $ 27,662 Commercial real estate: Commercial real estate 22,279 28,638 50,917 54,904 2,768 Construction 421 460 881 881 14 Total commercial real estate loans 22,700 29,098 51,798 55,785 2,782 Residential mortgage 6,362 6,420 12,782 13,801 620 Consumer loans: Home equity 186 620 806 901 79 Total consumer loans 186 620 806 901 79 Total $ 34,542 $ 117,457 $ 151,999 $ 162,485 $ 31,143 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 nine months ended September 30, 2018 and 2017 : Three Months Ended September 30, 2018 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) Commercial and industrial $ 87,414 $ 422 $ 70,135 $ 300 Commercial real estate: Commercial real estate 50,809 556 57,712 482 Construction 987 15 3,049 21 Total commercial real estate loans 51,796 571 60,761 503 Residential mortgage 14,112 152 15,630 183 Consumer loans: Home equity 2,454 17 4,766 49 Total consumer loans 2,454 17 4,766 49 Total $ 155,776 $ 1,162 $ 151,292 $ 1,035 Nine Months Ended September 30, 2018 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) Commercial and industrial $ 88,376 $ 1,348 $ 49,037 $ 896 Commercial real estate: Commercial real estate 52,993 1,735 57,718 1,290 Construction 1,811 54 2,836 60 Total commercial real estate loans 54,804 1,789 60,554 1,350 Residential mortgage 13,707 502 17,851 575 Consumer loans: Home equity 2,093 83 4,820 123 Total consumer loans 2,093 83 4,820 123 Total $ 158,980 $ 3,722 $ 132,262 $ 2,944 Interest income recognized on a cash basis (included in the table above) was immaterial for the three and nine months ended September 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 $81.1 million and $117.2 million as of September 30, 2018 and December 31, 2017 , respectively. Non-performing TDRs totaled $54.8 million and $27.0 million as of September 30, 2018 and December 31, 2017 , respectively. The following tables present loans by loan portfolio class modified as TDRs during the three and nine months ended September 30, 2018 and 2017 . The pre-modification and post-modification outstanding recorded investments disclosed in the tables below represent the loan carrying amounts immediately prior to the modification and the carrying amounts at September 30, 2018 and 2017 , respectively. Three Months Ended September 30, 2018 2017 Troubled Debt Restructurings Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment ($ in thousands) Commercial and industrial 6 $ 3,970 $ 3,751 10 $ 12,522 $ 11,655 Commercial real estate: Commercial real estate 1 233 231 4 5,931 5,929 Construction — — — 2 628 625 Total commercial real estate 1 233 231 6 6,559 6,554 Residential mortgage — — — 2 561 557 Total 7 $ 4,203 $ 3,982 18 $ 19,642 $ 18,766 Nine Months Ended September 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 22 $ 14,719 $ 13,904 61 $ 57,338 $ 52,694 Commercial real estate: Commercial real estate 6 4,207 4,504 7 23,806 23,217 Construction 2 565 285 3 1,188 994 Total commercial real estate 8 4,772 4,789 10 24,994 24,211 Residential mortgage 5 980 952 6 1,514 1,495 Consumer 1 88 83 — — — Total 36 $ 20,559 $ 19,728 77 $ 83,846 $ 78,400 The total TDRs presented in the above table had allocated specific reserves for loan losses of approximately $6.3 million and $5.3 million for September 30, 2018 and 2017 . These specific reserves are included in the allowance for loan losses for loans individually evaluated for impairment disclosed in the "Impaired Loans" section above. There were no charge-offs related to TDR modifications during the three and nine months ended September 30, 2018 and 2017 , respectively. The non-PCI loans modified as TDRs within the previous 12 months and for which there was a payment default ( 90 or more days past due) for the three and nine months ended September 30, 2018 and 2017 were as follows: Three Months Ended September 30, 2018 2017 Troubled Debt Restructurings Subsequently Defaulted Number of Contracts Recorded Investment Number of Contracts Recorded Investment ($ in thousands) Commercial and industrial 4 $ 3,645 — $ — Residential mortgage 5 1,015 4 1,093 Total 9 $ 4,660 4 $ 1,093 Nine Months Ended September 30, 2018 2017 Troubled Debt Restructurings Subsequently Defaulted Number of Contracts Recorded Investment Number of Contracts Recorded Investment ($ in thousands) Commercial and industrial 8 $ 6,770 7 $ 6,430 Commercial real estate — — 1 732 Residential mortgage 5 1,015 — — Total 13 $ 7,785 8 $ 7,162 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 September 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) September 30, 2018 Commercial and industrial $ 3,059,312 $ 52,555 $ 82,212 $ 49,543 $ 3,243,622 Commercial real estate 9,518,179 29,334 59,766 — 9,607,279 Construction 1,021,179 545 608 — 1,022,332 Total $ 13,598,670 $ 82,434 $ 142,586 $ 49,543 $ 13,873,233 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 September 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 September 30, 2018 and December 31, 2017 : Credit exposure - by payment activity Performing Loans Non-Performing Loans Total Non-PCI Loans (in thousands) September 30, 2018 Residential mortgage $ 3,315,902 $ 16,083 $ 3,331,985 Home equity 364,881 2,060 366,941 Automobile 1,288,428 72 1,288,500 Other consumer 820,480 116 820,596 Total $ 5,789,691 $ 18,331 $ 5,808,022 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 September 30, 2018 and December 31, 2017 : Credit exposure - by payment activity Performing Loans Non-Performing Loans Total PCI Loans (in thousands) September 30, 2018 Commercial and industrial $ 729,872 $ 41,786 $ 771,658 Commercial real estate 2,622,330 21,622 2,643,952 Construction 392,873 1,054 393,927 Residential mortgage 443,776 7,211 450,987 Consumer 165,762 3,749 169,511 Total $ 4,354,613 $ 75,422 $ 4,430,035 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 $9.9 million and $9.8 million at September 30, 2018 and December 31, 2017 , respectively. OREO included foreclosed residential real estate properties totaling $1.6 million and $7.3 million at September 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 $2.2 million and $3.8 million at September 30, 2018 and December 31, 2017 , respectively.

Allowance for Credit Losses

Allowance for Credit Losses	9 Months Ended
	Sep. 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 September 30, 2018 and December 31, 2017 . The following table summarizes the allowance for credit losses at September 30, 2018 and December 31, 2017 : September 30, December 31, (in thousands) Components of allowance for credit losses: Allowance for loan losses $ 144,963 $ 120,856 Allowance for unfunded letters of credit 4,512 3,596 Total allowance for credit losses $ 149,475 $ 124,452 The following table summarizes the provision for credit losses for the periods indicated: Three Months Ended Nine Months Ended 2018 2017 2018 2017 (in thousands) Components of provision for credit losses: Provision for loan losses $ 6,432 $ 1,301 $ 23,726 $ 7,413 Provision for unfunded letters of credit 120 339 916 329 Total provision for credit losses $ 6,552 $ 1,640 $ 24,642 $ 7,742 The following tables detail activity in the allowance for loan losses by portfolio segment for the three and nine months ended September 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 $ 74,257 $ 53,812 $ 4,624 $ 6,069 $ 138,762 Loans charged-off (833 ) — — (1,150 ) (1,983 ) Charged-off loans recovered 1,131 12 9 600 1,752 Net recoveries (charge-offs) 298 12 9 (550 ) (231 ) Provision for loan losses 9,442 (3,694 ) 286 398 6,432 Ending balance $ 83,997 $ 50,130 $ 4,919 $ 5,917 $ 144,963 Three Months Ended Allowance for loan losses: Beginning balance $ 51,617 $ 55,455 $ 4,186 $ 5,188 $ 116,446 Loans charged-off (265 ) — (129 ) (1,335 ) (1,729 ) Charged-off loans recovered 2,320 42 220 366 2,948 Net recoveries (charge-offs) 2,055 42 91 (969 ) 1,219 Provision for loan losses 1,017 (198 ) (385 ) 867 1,301 Ending balance $ 54,689 $ 55,299 $ 3,892 $ 5,086 $ 118,966 Commercial and Industrial Commercial Real Estate Residential Mortgage Consumer Total (in thousands) Nine Months Ended Allowance for loan losses: Beginning balance $ 57,232 $ 54,954 $ 3,605 $ 5,065 $ 120,856 Loans charged-off (1,606 ) (348 ) (167 ) (3,783 ) (5,904 ) Charged-off loans recovered 4,057 396 269 1,563 6,285 Net recoveries (charge-offs) 2,451 48 102 (2,220 ) 381 Provision for loan losses 24,314 (4,872 ) 1,212 3,072 23,726 Ending balance $ 83,997 $ 50,130 $ 4,919 $ 5,917 $ 144,963 Nine Months Ended Allowance for loan losses: Beginning balance $ 50,820 $ 55,851 $ 3,702 $ 4,046 $ 114,419 Loans charged-off (4,889 ) (553 ) (488 ) (3,467 ) (9,397 ) Charged-off loans recovered 3,480 824 903 1,324 6,531 Net (charge-offs) recoveries (1,409 ) 271 415 (2,143 ) (2,866 ) Provision for loan losses 5,278 (823 ) (225 ) 3,183 7,413 Ending balance $ 54,689 $ 55,299 $ 3,892 $ 5,086 $ 118,966 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 September 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) September 30, 2018 Allowance for loan losses: Individually evaluated for impairment $ 27,662 $ 2,782 $ 620 $ 79 $ 31,143 Collectively evaluated for impairment 56,335 47,348 4,299 5,838 113,820 Total $ 83,997 $ 50,130 $ 4,919 $ 5,917 $ 144,963 Loans: Individually evaluated for impairment $ 86,613 $ 51,798 $ 12,782 $ 806 $ 151,999 Collectively evaluated for impairment 3,157,009 10,577,813 3,319,203 2,475,231 19,529,256 Loans acquired with discounts related to credit quality 771,658 3,037,879 450,987 169,511 4,430,035 Total $ 4,015,280 $ 13,667,490 $ 3,782,972 $ 2,645,548 $ 24,111,290 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	9 Months Ended
	Sep. 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 — 87,153 242,232 65,688 395,073 Balance at September 30, 2018 $ 21,218 $ 287,256 $ 558,490 $ 218,746 $ 1,085,710 * 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. The goodwill from business combinations during 2018 set forth in the table above relates to the USAB acquisition. During the third quarter of 2018, Valley recorded an additional $6.8 million of goodwill related to the USAB acquisition, reflecting the effect of the combined adjustments to the fair value of certain PCI loans and deferred tax assets as of the acquisition date. See Note 2 for further details related to the USAB acquisition. There was no impairment of goodwill during three and nine months ended September 30, 2018 and 2017 . The following table summarizes other intangible assets as of September 30, 2018 and December 31, 2017 : Gross Intangible Assets Accumulated Amortization Valuation Allowance Net Intangible Assets (in thousands) September 30, 2018 Loan servicing rights $ 86,398 $ (61,507 ) $ (106 ) $ 24,785 Core deposits 80,470 (26,092 ) — 54,378 Other 3,945 (2,337 ) — 1,608 Total other intangible assets $ 170,813 $ (89,936 ) $ (106 ) $ 80,771 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 nine months ended September 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 $ 1,654 $ 3,043 $ 62 2019 5,437 10,961 235 2020 4,411 9,607 220 2021 3,456 8,252 206 2022 2,791 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 $ 4.7 million and $ 2.5 million for the three months ended September 30, 2018 and 2017 , respectively, and $13.6 million and $7.6 million for the nine months ended September 30, 2018 and 2017 , respectively.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 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 primary purpose of the 2016 Stock Plan is to provide additional incentive to officers and key employees of Valley and its subsidiaries, whose substantial contributions are essential to the continued growth and success of Valley, and to attract and retain competent and dedicated officers and other key employees whose efforts will result in the continued and long-term growth of Valley’s business. Under the 2016 Stock Plan, Valley may award shares of common stock in the form of stock appreciation rights, both incentive and non-qualified stock options, restricted stock and restricted stock units (RSUs) to its employees, and restricted stock and RSUs to non-employee directors for acting in their role as members of the board of directors. As of September 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 826 thousand shares remained outstanding as of September 30, 2018 ) at a weighted average exercise price of $5.47 and 336 thousand time-based RSUs (of which 179 thousand remained outstanding as of September 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 nine months ended September 30, 2018 and 2017 , respectively, to executive officers, key employees and directors 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 nine months ended September 30, 2018 and 2017 was $11.88 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 nine months ended September 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 nine months ended September 30, 2018 and 2017 was $12.35 per share and $11.05 per share, respectively. Valley recorded total stock-based compensation expense of $3.7 million and $2.7 million for the three months ended September 30, 2018 and 2017 , and $15.8 million and $9.6 million for the nine months ended September 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 September 30, 2018 , the unrecognized amortization expense for all stock-based employee compensation totaled approximately $20.0 million and will be recognized over an average remaining vesting period of 2.2 years .

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 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 nine months ended September 30, 2018 and 2017 : Three Months Ended Nine Months Ended 2018 2017 2018 2017 (in thousands) Trust and investment services $ 3,143 $ 3,062 $ 9,635 $ 8,606 Insurance commissions 3,646 4,519 11,493 13,938 Service charges on deposit accounts 6,597 5,558 20,529 16,136 (Losses) gains on securities transactions, net (79 ) 6 (880 ) 5 Fees from loan servicing 2,573 1,895 6,841 5,541 Gains on sales of loans, net 3,748 5,520 18,143 14,439 Bank owned life insurance 2,545 1,541 6,960 5,705 Other 6,865 4,896 26,637 17,177 Total non-interest income $ 29,038 $ 26,997 $ 99,358 $ 81,547 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	9 Months Ended
	Sep. 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 September 30, 2018 , Valley had 17 credit swaps with an aggregate notional amount of $97.8 million related to risk participation agreements. At September 30, 2018 , Valley has one "steepener" swap with a total current notional amount of $10.4 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: September 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 $ — $ 44 $ 482,000 $ 650 $ 81 $ 607,000 Fair value hedge interest rate swaps — 345 7,597 — 637 7,775 Total derivatives designated as hedging instruments $ — $ 389 $ 489,597 $ 650 $ 718 $ 614,775 Derivatives not designated as hedging instruments: Interest rate swaps and embedded derivatives $ 28,205 $ 44,260 $ 3,252,701 $ 25,696 $ 23,494 $ 1,687,005 Mortgage banking derivatives 334 268 118,176 71 118 113,233 Total derivatives not designated as hedging instruments $ 28,539 $ 44,528 $ 3,370,877 $ 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 interest rate swaps, designated and non-designated interest rate swaps liabilities were offset by variation margins posted by (with) the applicable counterparties totaling $70 thousand , $23.1 million and $318 thousand , respectively, and reported in the table above on a net basis at September 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 Nine Months Ended 2018 2017 2018 2017 (in thousands) Amount of loss reclassified from accumulated other comprehensive loss to interest expense $ (660 ) $ (1,930 ) $ (2,977 ) $ (6,762 ) Amount of gain (loss) recognized in other comprehensive (loss) income 310 329 3,698 (936 ) The accumulated net after-tax losses related to effective cash flow hedges included in accumulated other comprehensive loss were $3.6 million and $8.3 million at September 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 $1.2 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 Nine Months Ended 2018 2017 2018 2017 (in thousands) Derivative - interest rate swaps: Interest income $ 73 $ 75 $ 292 $ 224 Hedged item - loans: Interest income $ (73 ) $ (75 ) $ (292 ) $ (224 ) Fee income related to derivative interest rate swaps executed with commercial loan customers totaled $4.0 million and $910 thousand for the three months ended September 30, 2018 and 2017 , respectively, and $11.7 million and $5.7 million for the nine months ended September 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 September 30, 2018 : September 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 $ 7,942 $ 345 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 Nine Months Ended 2018 2017 2018 2017 (in thousands) Non-designated hedge interest rate derivatives Other non-interest expense $ (8 ) $ 37 $ 440 $ (753 ) 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 September 30, 2018 , Valley was in compliance with all of the provisions of its derivative counterparty agreements. As of September 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 $1.8 million . Valley has derivative counterparty agreements that require minimum collateral posting thresholds for certain counterparties.

Balance Sheet Offsetting

Balance Sheet Offsetting	9 Months Ended
	Sep. 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 September 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) September 30, 2018 Assets: Interest rate swaps $ 28,205 $ — $ 28,205 $ (159 ) $ — $ 28,046 Liabilities: Interest rate swaps $ 44,649 $ — $ 44,649 $ (159 ) $ 1,436 (1) $ 45,926 Repurchase agreements 150,000 — 150,000 — (150,000 ) (2) — Total $ 194,649 $ — $ 194,649 $ (159 ) $ (148,564 ) $ 45,926 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	9 Months Ended
	Sep. 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 September 30, 2018 and December 31, 2017 : September 30, December 31, (in thousands) Other Assets: Affordable housing tax credit investments, net $ 38,807 $ 22,135 Other tax credit investments, net 33,440 42,015 Total tax credit investments, net $ 72,247 $ 64,150 Other Liabilities: Unfunded affordable housing tax credit commitments $ 4,628 $ 3,690 Unfunded other tax credit commitments 9,071 15,020 Total unfunded tax credit commitments $ 13,699 $ 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 nine months ended September 30, 2018 and 2017 : Three Months Ended Nine Months Ended 2018 2017 2018 2017 (in thousands) Components of Income Tax Expense: Affordable housing tax credits and other tax benefits $ 1,761 $ 1,965 $ 5,011 $ 4,520 Other tax credit investment credits and tax benefits 5,817 7,859 16,982 22,825 Total reduction in income tax expense $ 7,578 $ 9,824 $ 21,993 $ 27,345 Amortization of Tax Credit Investments: Affordable housing tax credit investment losses $ 708 $ 1,183 $ 1,375 $ 1,937 Affordable housing tax credit investment impairment losses 558 979 1,660 1,233 Other tax credit investment losses 1,103 307 2,893 2,134 Other tax credit investment impairment losses 3,043 5,920 9,228 16,141 Total amortization of tax credit investments recorded in non-interest expense $ 5,412 $ 8,389 $ 15,156 $ 21,445

Litigation

Litigation	9 Months Ended
	Sep. 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 an 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 which the Court denied in August 2018. Plaintiffs and Valley entered into non-binding mediation. In October 2018, Valley and Plaintiffs agreed to a settlement in principal which is subject to final Court approval.

Business Segments

Business Segments	9 Months Ended
	Sep. 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 _2

New Authoritative Accounting Guidance (Policies)	9 Months Ended
	Sep. 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. 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement" eliminates, amends and adds disclosure requirements for fair value measurements. In addition, the amendments eliminate the term "at a minimum" from the disclosure requirements under Topic 820 to promote an appropriate exercise of discretion to consider materiality when evaluating required disclosures. ASU No. 2018-13 is effective for all entities for reporting periods beginning January 1, 2020 with early adoption permitted. Early adoption is allowed for any period for which the financial statements have not been issued yet or have not been made available for issuance. As a result, Valley elected to early adopt ASU No. 2018-13 for the third quarter ended September 30, 2018. The adoption resulted in the removal of Level 3 assets roll-forward and qualitative and quantitative disclosures regarding valuation techniques and unobservable inputs used to measure the fair value of Level 3 assets from Note 6 due to the immaterial amount of such assets at September 30, 2018. ASU No. 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities" amends the hedge accounting recognition and presentation requirements to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. ASU No. 2017-12 is effective for the annual and interim reporting periods beginning January 1, 2019 with early adoption permitted. 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. 2018-15 “Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract” requires implementation costs incurred in cloud computing arrangements which do not include a software license to be deferred and expensed over the term of the hosting arrangement. The implementation costs should be deferred using the Topic 350-40 “Internal-Use Software” model to determine which implementation costs are eligible to be capitalized based on the project stage and nature of the cost. The expense should be presented in the same income statement line item as the fees associated with the cloud computing arrangement. ASU No. 2018-15 will be effective for public entities annual and interim reporting periods beginning January 1, 2020 with early adoption permitted. ASU No. 2018-15 should be applied either retrospectively or prospectively. However, prospective transition would be applied to any eligible costs incurred on or after the adoption date related to arrangements entered before and after the adoption date. During the fourth quarter of 2018, Valley adopted ASU No. 2017-08 on a prospective basis. The adoption of ASU No. 2017-08 is not expected to have a significant impact on Valley's consolidated financial statements. 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 is 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, including the accumulated 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. Based upon current estimates, Valley expects to record right of use assets ranging from $200 million to $250 million (net of the reversal of the current deferred rent liability) and lease obligations ranging from $230 million to $280 million as of January 1, 2019. The estimated range of additional right of use assets is expected to negatively impact total risk-based capital by approximately 10 to 12 basis points and tier 1 capital by approximately 7 to 9 basis points. Actual results of our implementation may differ from the current estimated ranges due to several factors, including, but not limited to changes in our incremental borrowing rates at the date of adoption, expectations regarding exercise of certain lease renewal periods, lease modifications and early terminations, new leases and contracts, or the discovery of additional existing or embedded leases during the fourth quarter of 2018.

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
	Sep. 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 3,735,162 Premises and equipment 62,066 Bank owned life insurance 49,052 Accrued interest receivable 12,123 Goodwill 395,073 Other intangible assets 45,906 Other assets: Deferred taxes 11,400 Other real estate owned 4,073 FHLB and FRB stock 38,809 Tax credit investments 20,138 Other 26,416 Total other assets 100,836 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)	9 Months Ended
	Sep. 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 nine months ended September 30, 2018 and 2017 : Three Months Ended Nine Months Ended 2018 2017 2018 2017 (in thousands, except for share data) Net income available to common shareholders $ 66,387 $ 36,966 $ 174,810 $ 129,532 Basic weighted average number of common shares outstanding 331,486,500 264,058,174 331,180,213 263,938,786 Plus: Common stock equivalents 1,513,742 878,046 1,513,867 816,059 Diluted weighted average number of common shares outstanding 333,000,242 264,936,220 332,694,080 264,754,845 Earnings per common share: Basic $ 0.20 $ 0.14 $ 0.53 $ 0.49 Diluted 0.20 0.14 0.53 0.49

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The following tables present the after-tax changes in the balances of each component of accumulated other comprehensive loss for the three and nine months ended September 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 June 30, 2018 $ (39,296 ) $ (440 ) $ (4,329 ) $ (25,059 ) $ (69,124 ) Other comprehensive (loss) income before reclassifications (8,675 ) (8 ) 221 — (8,462 ) Amounts reclassified from other comprehensive (loss) income 52 5 472 113 642 Other comprehensive (loss) income, net (8,623 ) (3 ) 693 113 (7,820 ) Balance at September 30, 2018 $ (47,919 ) $ (443 ) $ (3,636 ) $ (24,946 ) $ (76,944 ) 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 (36,065 ) (64 ) 2,636 — (33,493 ) Amounts reclassified from other comprehensive (loss) income 630 1 2,127 337 3,095 Other comprehensive (loss) income, net (35,435 ) (63 ) 4,763 337 (30,398 ) Balance at September 30, 2018 $ (47,919 ) $ (443 ) $ (3,636 ) $ (24,946 ) $ (76,944 )
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 nine months ended September 30, 2018 and 2017 : Amounts Reclassified from Accumulated Other Comprehensive Loss Three Months Ended Nine 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 $ (79 ) $ 6 $ (880 ) $ 5 (Losses) gains on securities transactions, net Tax effect 27 (2 ) 250 (1 ) Total net of tax (52 ) 4 (630 ) 4 Non-credit impairment losses on AFS securities before tax: Accretion of credit loss impairment due to an increase in expected cash flows (7 ) 67 (1 ) 283 Interest and dividends on investment securities (taxable) Tax effect 2 (27 ) — (117 ) Total net of tax (5 ) 40 (1 ) 166 Unrealized losses on derivatives (cash flow hedges) before tax (660 ) (1,930 ) (2,977 ) (6,762 ) Interest expense Tax effect 188 798 850 2,799 Total net of tax (472 ) (1,132 ) (2,127 ) (3,963 ) Defined benefit pension plan: Amortization of net loss (157 ) (101 ) (471 ) (303 ) * Tax effect 44 42 134 126 Total net of tax (113 ) (59 ) (337 ) (177 ) Total reclassifications, net of tax $ (642 ) $ (1,147 ) $ (3,095 ) $ (3,970 ) * Amortization of net loss is included in the computation of net periodic pension cost recognized within other non-interest expense.

Fair Value Measurement of Ass_2

Fair Value Measurement of Assets and Liabilities (Tables)	9 Months Ended
	Sep. 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 September 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). September 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 $ 48,363 $ 48,363 $ — $ — U.S. government agency securities 36,513 — 36,513 — Obligations of states and political subdivisions 205,237 — 205,237 — Residential mortgage-backed securities 1,412,849 — 1,406,671 6,178 Trust preferred securities 1,590 — 1,590 — Corporate and other debt securities 44,449 7,587 36,862 — Total available for sale 1,749,001 55,950 1,686,873 6,178 Loans held for sale (1) 31,675 — 31,675 — Other assets (2) 28,539 — 28,539 — Total assets $ 1,809,215 $ 55,950 $ 1,747,087 $ 6,178 Liabilities Other liabilities (2) $ 44,917 $ — $ 44,917 $ — Total liabilities $ 44,917 $ — $ 44,917 $ — Non-recurring fair value measurements: Collateral dependent impaired loans (3) $ 36,957 $ — $ — $ 36,957 Loan servicing rights 373 — — 373 Foreclosed assets 4,450 — — 4,450 Total $ 41,780 $ — $ — $ 41,780 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 $31.4 million and $14.8 million at September 30, 2018 and December 31, 2017 , respectively. (2) Derivative financial instruments are included in this category. (3) Excludes PCI loans.
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 September 30, 2018 and December 31, 2017 were as follows: Fair Value Hierarchy September 30, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value (in thousands) Financial assets Cash and due from banks Level 1 $ 262,653 $ 262,653 $ 243,310 $ 243,310 Interest bearing deposits with banks Level 1 93,726 93,726 172,800 172,800 Investment securities held to maturity: U.S. Treasury securities Level 1 138,557 140,269 138,676 145,257 U.S. government agency securities Level 2 8,846 8,541 9,859 9,981 Obligations of states and political subdivisions Level 2 596,360 593,423 465,878 477,479 Residential mortgage-backed securities Level 2 1,259,772 1,211,756 1,131,945 1,118,044 Trust preferred securities Level 2 37,328 31,153 49,824 40,088 Corporate and other debt securities Level 2 31,500 31,212 46,509 46,771 Total investment securities held to maturity 2,072,363 2,016,354 1,842,691 1,837,620 Net loans Level 3 23,966,327 23,104,688 18,210,724 17,562,153 Accrued interest receivable Level 1 92,666 92,666 73,990 73,990 Federal Reserve Bank and Federal Home Loan Bank stock (1) Level 1 271,905 271,905 178,668 178,668 Financial liabilities Deposits without stated maturities Level 1 17,171,701 17,171,701 14,589,941 14,589,941 Deposits with stated maturities Level 2 5,416,571 5,351,921 3,563,521 3,465,373 Short-term borrowings Level 1 2,968,431 2,786,568 748,628 679,316 Long-term borrowings Level 2 1,728,805 1,639,788 2,315,819 2,453,797 Junior subordinated debentures issued to capital trusts Level 2 55,283 47,715 41,774 37,289 Accrued interest payable (2) Level 1 17,844 17,844 14,161 14,161 (1) Included in other assets. (2) Included in accrued expenses and other liabilities.

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Sep. 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 September 30, 2018 and December 31, 2017 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) September 30, 2018 U.S. Treasury securities $ 138,557 $ 1,853 $ (141 ) $ 140,269 U.S. government agency securities 8,846 — (305 ) 8,541 Obligations of states and political subdivisions: Obligations of states and state agencies 347,775 3,717 (6,970 ) 344,522 Municipal bonds 248,585 2,561 (2,245 ) 248,901 Total obligations of states and political subdivisions 596,360 6,278 (9,215 ) 593,423 Residential mortgage-backed securities 1,259,772 1,573 (49,589 ) 1,211,756 Trust preferred securities 37,328 38 (6,213 ) 31,153 Corporate and other debt securities 31,500 47 (335 ) 31,212 Total investment securities held to maturity $ 2,072,363 $ 9,789 $ (65,798 ) $ 2,016,354 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 September 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) September 30, 2018 U.S. Treasury securities $ 34,660 $ (141 ) $ — $ — $ 34,660 $ (141 ) U.S. government agency securities 8,541 (305 ) — — 8,541 (305 ) Obligations of states and political subdivisions: Obligations of states and state agencies 129,321 (3,414 ) 48,862 (3,556 ) 178,183 (6,970 ) Municipal bonds 89,065 (2,208 ) 528 (37 ) 89,593 (2,245 ) Total obligations of states and political subdivisions 218,386 (5,622 ) 49,390 (3,593 ) 267,776 (9,215 ) Residential mortgage-backed securities 467,711 (9,928 ) 662,345 (39,661 ) 1,130,056 (49,589 ) Trust preferred securities — — 29,761 (6,213 ) 29,761 (6,213 ) Corporate and other debt securities 15,386 (114 ) 4,779 (221 ) 20,165 (335 ) Total $ 744,684 $ (16,110 ) $ 746,275 $ (49,688 ) $ 1,490,959 $ (65,798 ) 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 September 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. September 30, 2018 Amortized Cost Fair Value (in thousands) Due in one year $ 21,825 $ 21,850 Due after one year through five years 231,676 233,954 Due after five years through ten years 295,711 300,013 Due after ten years 263,379 248,781 Residential mortgage-backed securities 1,259,772 1,211,756 Total investment securities held to maturity $ 2,072,363 $ 2,016,354
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 September 30, 2018 and December 31, 2017 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) September 30, 2018 U.S. Treasury securities $ 50,980 $ — $ (2,617 ) $ 48,363 U.S. government agency securities 37,618 67 (1,172 ) 36,513 Obligations of states and political subdivisions: Obligations of states and state agencies 106,881 41 (3,344 ) 103,578 Municipal bonds 103,631 137 (2,109 ) 101,659 Total obligations of states and political subdivisions 210,512 178 (5,453 ) 205,237 Residential mortgage-backed securities 1,470,565 1,304 (59,020 ) 1,412,849 Trust preferred securities 1,789 — (199 ) 1,590 Corporate and other debt securities 45,063 134 (748 ) 44,449 Total investment securities available for sale $ 1,816,527 $ 1,683 $ (69,209 ) $ 1,749,001 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 September 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) September 30, 2018 U.S. Treasury securities $ 897 $ (16 ) $ 47,467 $ (2,601 ) $ 48,364 $ (2,617 ) U.S. government agency securities 5,502 (77 ) 23,561 (1,095 ) 29,063 (1,172 ) Obligations of states and political subdivisions: Obligations of states and state agencies 86,962 (2,850 ) 12,297 (494 ) 99,259 (3,344 ) Municipal bonds 58,259 (1,205 ) 22,850 (904 ) 81,109 (2,109 ) Total obligations of states and political subdivisions 145,221 (4,055 ) 35,147 (1,398 ) 180,368 (5,453 ) Residential mortgage-backed securities 667,551 (19,418 ) 723,522 (39,602 ) 1,391,073 (59,020 ) Trust preferred securities — — 1,590 (199 ) 1,590 (199 ) Corporate and other debt securities 21,317 (319 ) 10,473 (429 ) 31,790 (748 ) Total $ 840,488 $ (23,885 ) $ 841,760 $ (45,324 ) $ 1,682,248 $ (69,209 ) 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 September 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. September 30, 2018 Amortized Cost Fair Value (in thousands) Due in one year $ 9,831 $ 9,893 Due after one year through five years 128,006 123,837 Due after five years through ten years 78,226 77,112 Due after ten years 129,899 125,310 Residential mortgage-backed securities 1,470,565 1,412,849 Total investment securities available for sale $ 1,816,527 $ 1,749,001

Loans (Tables)

Loans (Tables)	9 Months Ended
	Sep. 30, 2018
Receivables [Abstract]
Schedule of Loan Portfolio	The detail of the loan portfolio as of September 30, 2018 and December 31, 2017 was as follows: September 30, 2018 December 31, 2017 Non-PCI Loans PCI Loans* Total Non-PCI Loans PCI Loans* Total (in thousands) Loans: Commercial and industrial $ 3,243,622 $ 771,658 $ 4,015,280 $ 2,549,065 $ 192,360 $ 2,741,425 Commercial real estate: Commercial real estate 9,607,279 2,643,952 12,251,231 8,561,851 934,926 9,496,777 Construction 1,022,332 393,927 1,416,259 809,964 41,141 851,105 Total commercial real estate loans 10,629,611 3,037,879 13,667,490 9,371,815 976,067 10,347,882 Residential mortgage 3,331,985 450,987 3,782,972 2,717,744 141,291 2,859,035 Consumer: Home equity 366,941 154,856 521,797 373,631 72,649 446,280 Automobile 1,288,500 402 1,288,902 1,208,804 98 1,208,902 Other consumer 820,596 14,253 834,849 723,306 4,750 728,056 Total consumer loans 2,476,037 169,511 2,645,548 2,305,741 77,497 2,383,238 Total loans $ 19,681,255 $ 4,430,035 $ 24,111,290 $ 16,944,365 $ 1,387,215 $ 18,331,580 * PCI loans include covered loans (mostly consisting of residential mortgage loans) totaling $29.1 million and $38.7 million at September 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) (103,618 ) Expected cash flows to be collected 4,209,370 Interest component of expected cash flows (accretable yield) (474,208 ) Fair value of acquired loans $ 3,735,162
Changes in Accretable Yield for PCI Loans	The following table presents changes in the accretable yield for PCI loans during the three and nine months ended September 30, 2018 and 2017 : Three Months Ended Nine Months Ended 2018 2017 2018 2017 (in thousands) Balance, beginning of period $ 630,550 $ 246,278 $ 282,009 $ 294,514 Acquisition — — 474,208 — Accretion (54,367 ) (20,626 ) (180,034 ) (68,862 ) Net increase in expected cash flows 23,983 — 23,983 — Balance, end of period $ 600,166 $ 225,652 $ 600,166 $ 225,652
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 September 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) September 30, 2018 Commercial and industrial $ 9,462 $ 1,431 $ 1,618 $ 52,929 $ 65,440 $ 3,178,182 $ 3,243,622 Commercial real estate: Commercial real estate 3,387 2,502 27 7,103 13,019 9,594,260 9,607,279 Construction 15,576 36 — — 15,612 1,006,720 1,022,332 Total commercial real estate loans 18,963 2,538 27 7,103 28,631 10,600,980 10,629,611 Residential mortgage 10,058 3,270 1,877 16,083 31,288 3,300,697 3,331,985 Consumer loans: Home equity 506 265 — 2,060 2,831 364,110 366,941 Automobile 5,950 619 261 72 6,902 1,281,598 1,288,500 Other consumer 987 365 21 116 1,489 819,107 820,596 Total consumer loans 7,443 1,249 282 2,248 11,222 2,464,815 2,476,037 Total $ 45,926 $ 8,488 $ 3,804 $ 78,363 $ 136,581 $ 19,544,674 $ 19,681,255 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 information about impaired loans by loan portfolio class at September 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) September 30, 2018 Commercial and industrial $ 5,294 $ 81,319 $ 86,613 $ 91,998 $ 27,662 Commercial real estate: Commercial real estate 22,279 28,638 50,917 54,904 2,768 Construction 421 460 881 881 14 Total commercial real estate loans 22,700 29,098 51,798 55,785 2,782 Residential mortgage 6,362 6,420 12,782 13,801 620 Consumer loans: Home equity 186 620 806 901 79 Total consumer loans 186 620 806 901 79 Total $ 34,542 $ 117,457 $ 151,999 $ 162,485 $ 31,143 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 nine months ended September 30, 2018 and 2017 : Three Months Ended September 30, 2018 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) Commercial and industrial $ 87,414 $ 422 $ 70,135 $ 300 Commercial real estate: Commercial real estate 50,809 556 57,712 482 Construction 987 15 3,049 21 Total commercial real estate loans 51,796 571 60,761 503 Residential mortgage 14,112 152 15,630 183 Consumer loans: Home equity 2,454 17 4,766 49 Total consumer loans 2,454 17 4,766 49 Total $ 155,776 $ 1,162 $ 151,292 $ 1,035 Nine Months Ended September 30, 2018 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) Commercial and industrial $ 88,376 $ 1,348 $ 49,037 $ 896 Commercial real estate: Commercial real estate 52,993 1,735 57,718 1,290 Construction 1,811 54 2,836 60 Total commercial real estate loans 54,804 1,789 60,554 1,350 Residential mortgage 13,707 502 17,851 575 Consumer loans: Home equity 2,093 83 4,820 123 Total consumer loans 2,093 83 4,820 123 Total $ 158,980 $ 3,722 $ 132,262 $ 2,944
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 nine months ended September 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 September 30, 2018 and 2017 , respectively. Three Months Ended September 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 6 $ 3,970 $ 3,751 10 $ 12,522 $ 11,655 Commercial real estate: Commercial real estate 1 233 231 4 5,931 5,929 Construction — — — 2 628 625 Total commercial real estate 1 233 231 6 6,559 6,554 Residential mortgage — — — 2 561 557 Total 7 $ 4,203 $ 3,982 18 $ 19,642 $ 18,766 Nine Months Ended September 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 22 $ 14,719 $ 13,904 61 $ 57,338 $ 52,694 Commercial real estate: Commercial real estate 6 4,207 4,504 7 23,806 23,217 Construction 2 565 285 3 1,188 994 Total commercial real estate 8 4,772 4,789 10 24,994 24,211 Residential mortgage 5 980 952 6 1,514 1,495 Consumer 1 88 83 — — — Total 36 $ 20,559 $ 19,728 77 $ 83,846 $ 78,400 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 nine months ended September 30, 2018 and 2017 were as follows: Three Months Ended September 30, 2018 2017 Troubled Debt Restructurings Subsequently Defaulted Number of Contracts Recorded Investment Number of Contracts Recorded Investment ($ in thousands) Commercial and industrial 4 $ 3,645 — $ — Residential mortgage 5 1,015 4 1,093 Total 9 $ 4,660 4 $ 1,093 Nine Months Ended September 30, 2018 2017 Troubled Debt Restructurings Subsequently Defaulted Number of Contracts Recorded Investment Number of Contracts Recorded Investment ($ in thousands) Commercial and industrial 8 $ 6,770 7 $ 6,430 Commercial real estate — — 1 732 Residential mortgage 5 1,015 — — Total 13 $ 7,785 8 $ 7,162
Risk Category of Loans	The following table presents the credit exposure by internally assigned risk rating by class of loans (excluding PCI loans) at September 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) September 30, 2018 Commercial and industrial $ 3,059,312 $ 52,555 $ 82,212 $ 49,543 $ 3,243,622 Commercial real estate 9,518,179 29,334 59,766 — 9,607,279 Construction 1,021,179 545 608 — 1,022,332 Total $ 13,598,670 $ 82,434 $ 142,586 $ 49,543 $ 13,873,233 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 those loan classes based on payment activity as of September 30, 2018 and December 31, 2017 : Credit exposure - by payment activity Performing Loans Non-Performing Loans Total Non-PCI Loans (in thousands) September 30, 2018 Residential mortgage $ 3,315,902 $ 16,083 $ 3,331,985 Home equity 364,881 2,060 366,941 Automobile 1,288,428 72 1,288,500 Other consumer 820,480 116 820,596 Total $ 5,789,691 $ 18,331 $ 5,808,022 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 The following table presents the recorded investment in PCI loans by class based on individual loan payment activity as of September 30, 2018 and December 31, 2017 : Credit exposure - by payment activity Performing Loans Non-Performing Loans Total PCI Loans (in thousands) September 30, 2018 Commercial and industrial $ 729,872 $ 41,786 $ 771,658 Commercial real estate 2,622,330 21,622 2,643,952 Construction 392,873 1,054 393,927 Residential mortgage 443,776 7,211 450,987 Consumer 165,762 3,749 169,511 Total $ 4,354,613 $ 75,422 $ 4,430,035 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

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	9 Months Ended
	Sep. 30, 2018
Receivables [Abstract]
Summary of Allowance for Credit Losses	The following table summarizes the allowance for credit losses at September 30, 2018 and December 31, 2017 : September 30, December 31, (in thousands) Components of allowance for credit losses: Allowance for loan losses $ 144,963 $ 120,856 Allowance for unfunded letters of credit 4,512 3,596 Total allowance for credit losses $ 149,475 $ 124,452
Summary of Provision for Credit Losses	The following table summarizes the provision for credit losses for the periods indicated: Three Months Ended Nine Months Ended 2018 2017 2018 2017 (in thousands) Components of provision for credit losses: Provision for loan losses $ 6,432 $ 1,301 $ 23,726 $ 7,413 Provision for unfunded letters of credit 120 339 916 329 Total provision for credit losses $ 6,552 $ 1,640 $ 24,642 $ 7,742
Summary of Activity in Allowance for Loan Losses	The following tables detail activity in the allowance for loan losses by portfolio segment for the three and nine months ended September 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 $ 74,257 $ 53,812 $ 4,624 $ 6,069 $ 138,762 Loans charged-off (833 ) — — (1,150 ) (1,983 ) Charged-off loans recovered 1,131 12 9 600 1,752 Net recoveries (charge-offs) 298 12 9 (550 ) (231 ) Provision for loan losses 9,442 (3,694 ) 286 398 6,432 Ending balance $ 83,997 $ 50,130 $ 4,919 $ 5,917 $ 144,963 Three Months Ended Allowance for loan losses: Beginning balance $ 51,617 $ 55,455 $ 4,186 $ 5,188 $ 116,446 Loans charged-off (265 ) — (129 ) (1,335 ) (1,729 ) Charged-off loans recovered 2,320 42 220 366 2,948 Net recoveries (charge-offs) 2,055 42 91 (969 ) 1,219 Provision for loan losses 1,017 (198 ) (385 ) 867 1,301 Ending balance $ 54,689 $ 55,299 $ 3,892 $ 5,086 $ 118,966 Commercial and Industrial Commercial Real Estate Residential Mortgage Consumer Total (in thousands) Nine Months Ended Allowance for loan losses: Beginning balance $ 57,232 $ 54,954 $ 3,605 $ 5,065 $ 120,856 Loans charged-off (1,606 ) (348 ) (167 ) (3,783 ) (5,904 ) Charged-off loans recovered 4,057 396 269 1,563 6,285 Net recoveries (charge-offs) 2,451 48 102 (2,220 ) 381 Provision for loan losses 24,314 (4,872 ) 1,212 3,072 23,726 Ending balance $ 83,997 $ 50,130 $ 4,919 $ 5,917 $ 144,963 Nine Months Ended Allowance for loan losses: Beginning balance $ 50,820 $ 55,851 $ 3,702 $ 4,046 $ 114,419 Loans charged-off (4,889 ) (553 ) (488 ) (3,467 ) (9,397 ) Charged-off loans recovered 3,480 824 903 1,324 6,531 Net (charge-offs) recoveries (1,409 ) 271 415 (2,143 ) (2,866 ) Provision for loan losses 5,278 (823 ) (225 ) 3,183 7,413 Ending balance $ 54,689 $ 55,299 $ 3,892 $ 5,086 $ 118,966
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 September 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) September 30, 2018 Allowance for loan losses: Individually evaluated for impairment $ 27,662 $ 2,782 $ 620 $ 79 $ 31,143 Collectively evaluated for impairment 56,335 47,348 4,299 5,838 113,820 Total $ 83,997 $ 50,130 $ 4,919 $ 5,917 $ 144,963 Loans: Individually evaluated for impairment $ 86,613 $ 51,798 $ 12,782 $ 806 $ 151,999 Collectively evaluated for impairment 3,157,009 10,577,813 3,319,203 2,475,231 19,529,256 Loans acquired with discounts related to credit quality 771,658 3,037,879 450,987 169,511 4,430,035 Total $ 4,015,280 $ 13,667,490 $ 3,782,972 $ 2,645,548 $ 24,111,290 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_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 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 — 87,153 242,232 65,688 395,073 Balance at September 30, 2018 $ 21,218 $ 287,256 $ 558,490 $ 218,746 $ 1,085,710 * 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 September 30, 2018 and December 31, 2017 : Gross Intangible Assets Accumulated Amortization Valuation Allowance Net Intangible Assets (in thousands) September 30, 2018 Loan servicing rights $ 86,398 $ (61,507 ) $ (106 ) $ 24,785 Core deposits 80,470 (26,092 ) — 54,378 Other 3,945 (2,337 ) — 1,608 Total other intangible assets $ 170,813 $ (89,936 ) $ (106 ) $ 80,771 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 $ 1,654 $ 3,043 $ 62 2019 5,437 10,961 235 2020 4,411 9,607 220 2021 3,456 8,252 206 2022 2,791 6,898 191

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Non-Interest Income	The following table presents non-interest income for the three and nine months ended September 30, 2018 and 2017 : Three Months Ended Nine Months Ended 2018 2017 2018 2017 (in thousands) Trust and investment services $ 3,143 $ 3,062 $ 9,635 $ 8,606 Insurance commissions 3,646 4,519 11,493 13,938 Service charges on deposit accounts 6,597 5,558 20,529 16,136 (Losses) gains on securities transactions, net (79 ) 6 (880 ) 5 Fees from loan servicing 2,573 1,895 6,841 5,541 Gains on sales of loans, net 3,748 5,520 18,143 14,439 Bank owned life insurance 2,545 1,541 6,960 5,705 Other 6,865 4,896 26,637 17,177 Total non-interest income $ 29,038 $ 26,997 $ 99,358 $ 81,547

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 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: September 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 $ — $ 44 $ 482,000 $ 650 $ 81 $ 607,000 Fair value hedge interest rate swaps — 345 7,597 — 637 7,775 Total derivatives designated as hedging instruments $ — $ 389 $ 489,597 $ 650 $ 718 $ 614,775 Derivatives not designated as hedging instruments: Interest rate swaps and embedded derivatives $ 28,205 $ 44,260 $ 3,252,701 $ 25,696 $ 23,494 $ 1,687,005 Mortgage banking derivatives 334 268 118,176 71 118 113,233 Total derivatives not designated as hedging instruments $ 28,539 $ 44,528 $ 3,370,877 $ 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 Nine Months Ended 2018 2017 2018 2017 (in thousands) Amount of loss reclassified from accumulated other comprehensive loss to interest expense $ (660 ) $ (1,930 ) $ (2,977 ) $ (6,762 ) Amount of gain (loss) recognized in other comprehensive (loss) income 310 329 3,698 (936 )
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 Nine Months Ended 2018 2017 2018 2017 (in thousands) Derivative - interest rate swaps: Interest income $ 73 $ 75 $ 292 $ 224 Hedged item - loans: Interest income $ (73 ) $ (75 ) $ (292 ) $ (224 )
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 September 30, 2018 : September 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 $ 7,942 $ 345
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 Nine Months Ended 2018 2017 2018 2017 (in thousands) Non-designated hedge interest rate derivatives Other non-interest expense $ (8 ) $ 37 $ 440 $ (753 )

Balance Sheet Offsetting (Table

Balance Sheet Offsetting (Tables)	9 Months Ended
	Sep. 30, 2018
Offsetting [Abstract]
Offsetting Assets	The table below presents information about Valley’s financial instruments that are eligible for offset in the consolidated statements of financial condition as of September 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) September 30, 2018 Assets: Interest rate swaps $ 28,205 $ — $ 28,205 $ (159 ) $ — $ 28,046 Liabilities: Interest rate swaps $ 44,649 $ — $ 44,649 $ (159 ) $ 1,436 (1) $ 45,926 Repurchase agreements 150,000 — 150,000 — (150,000 ) (2) — Total $ 194,649 $ — $ 194,649 $ (159 ) $ (148,564 ) $ 45,926 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.
Offsetting Liabilities	The table below presents information about Valley’s financial instruments that are eligible for offset in the consolidated statements of financial condition as of September 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) September 30, 2018 Assets: Interest rate swaps $ 28,205 $ — $ 28,205 $ (159 ) $ — $ 28,046 Liabilities: Interest rate swaps $ 44,649 $ — $ 44,649 $ (159 ) $ 1,436 (1) $ 45,926 Repurchase agreements 150,000 — 150,000 — (150,000 ) (2) — Total $ 194,649 $ — $ 194,649 $ (159 ) $ (148,564 ) $ 45,926 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)	9 Months Ended
	Sep. 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 September 30, 2018 and December 31, 2017 : September 30, December 31, (in thousands) Other Assets: Affordable housing tax credit investments, net $ 38,807 $ 22,135 Other tax credit investments, net 33,440 42,015 Total tax credit investments, net $ 72,247 $ 64,150 Other Liabilities: Unfunded affordable housing tax credit commitments $ 4,628 $ 3,690 Unfunded other tax credit commitments 9,071 15,020 Total unfunded tax credit commitments $ 13,699 $ 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 nine months ended September 30, 2018 and 2017 : Three Months Ended Nine Months Ended 2018 2017 2018 2017 (in thousands) Components of Income Tax Expense: Affordable housing tax credits and other tax benefits $ 1,761 $ 1,965 $ 5,011 $ 4,520 Other tax credit investment credits and tax benefits 5,817 7,859 16,982 22,825 Total reduction in income tax expense $ 7,578 $ 9,824 $ 21,993 $ 27,345 Amortization of Tax Credit Investments: Affordable housing tax credit investment losses $ 708 $ 1,183 $ 1,375 $ 1,937 Affordable housing tax credit investment impairment losses 558 979 1,660 1,233 Other tax credit investment losses 1,103 307 2,893 2,134 Other tax credit investment impairment losses 3,043 5,920 9,228 16,141 Total amortization of tax credit investments recorded in non-interest expense $ 5,412 $ 8,389 $ 15,156 $ 21,445

Business Combinations - Additio

Business Combinations - Additional Information (Details) $ in Thousands	Jan. 01, 2018USD ($)officebranch	Sep. 30, 2018USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2017USD ($)
Business Acquisition [Line Items]
Goodwill from business combinations			$ 395,073
Assets		$ 30,881,948	30,881,948	$ 24,002,306
Loans		23,966,327	23,966,327	18,210,724
Deposits		22,588,272	$ 22,588,272	$ 18,153,462
Core Deposits
Business Acquisition [Line Items]
Estimated useful life			10 years
USAmeriBancorp, Inc.
Business Acquisition [Line Items]
Assets	$ 5,100,000
Loans	3,700,000
Deposits	$ 3,600,000
Number of offices | office	29
USAmeriBancorp, Inc.
Business Acquisition [Line Items]
Goodwill from business combinations		6,800
Loans	$ 3,735,162
Share ratio of common stock issued to USAB shareholders	6.1
Total consideration	$ 737,230
Merger expenses		$ 1,300	$ 18,100
USAmeriBancorp, Inc. | Core Deposits
Business Acquisition [Line Items]
Estimated useful life			10 years
USAmeriBancorp, Inc. | Alabama
Business Acquisition [Line Items]
Number of branches | branch	15

Business Combinations - Assets

Business Combinations - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Assets acquired:
Loans	$ 23,966,327		$ 18,210,724
Goodwill	1,085,710		690,637
Deposits:
Savings, NOW and money market	$ 11,036,700		$ 9,365,013
USAmeriBancorp, Inc.
Assets acquired:
Cash and cash equivalents		$ 156,612
Loans		3,735,162
Premises and equipment		62,066
Bank owned life insurance		49,052
Accrued interest receivable		12,123
Goodwill		395,073
Other intangible assets		45,906
Other assets:
Deferred taxes		11,400
Other real estate owned		4,073
FHLB and FRB stock		38,809
Tax credit investments		20,138
Other		26,416
Total other assets		100,836
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

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share Reconciliation
Net income available to common shareholders	$ 66,387	$ 36,966	$ 174,810	$ 129,532
Basic weighted average number of common shares outstanding (in shares)	331,486,500	264,058,174	331,180,213	263,938,786
Plus: Common stock equivalents (in shares)	1,513,742	878,046	1,513,867	816,059
Diluted weighted average number of common shares outstanding (in shares)	333,000,242	264,936,220	332,694,080	264,754,845
Earnings per common share:
Basic (usd per share)	$ 0.20	$ 0.14	$ 0.53	$ 0.49
Diluted (usd per share)	$ 0.20	$ 0.14	$ 0.53	$ 0.49
Anti-dilutive common stock options and warrants (in shares)	2,900,000	3,200,000	2,900,000	3,300,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Components of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Jan. 01, 2018
Accumulated Other Comprehensive Income (Loss)
Beginning balance			$ 2,533,165
Beginning balance after reclassifications	$ 3,302,936		2,533,165
Other comprehensive (loss) income before reclassifications	(8,462)		(33,493)
Amounts reclassified from other comprehensive (loss) income	642	$ 1,147	3,095	$ 3,970
Total other comprehensive (loss) income	(7,820)	2,579	(30,398)	7,993
Ending balance	3,302,936		3,302,936
Accounting Standards Update 2016-01
Accumulated Other Comprehensive Income (Loss)
Reclassification due to adoption of new accounting principle			(480)
Accounting Standards Update 2017-12
Accumulated Other Comprehensive Income (Loss)
Reclassification due to adoption of new accounting principle			(61)
Unrealized Gains and Losses on Available for Sale (AFS) Securities
Accumulated Other Comprehensive Income (Loss)
Beginning balance	(39,296)		(12,004)
Beginning balance after reclassifications	(39,296)		(12,004)		$ (12,484)
Other comprehensive (loss) income before reclassifications	(8,675)		(36,065)
Amounts reclassified from other comprehensive (loss) income	52		630
Total other comprehensive (loss) income	(8,623)		(35,435)
Ending balance	(47,919)		(47,919)
Unrealized Gains and Losses on Available for Sale (AFS) Securities | Accounting Standards Update 2016-01
Accumulated Other Comprehensive Income (Loss)
Reclassification due to adoption of new accounting principle			(480)
Unrealized Gains and Losses on Available for Sale (AFS) Securities | Accounting Standards Update 2017-12
Accumulated Other Comprehensive Income (Loss)
Reclassification due to adoption of new accounting principle			0
Non-credit Impairment Losses on AFS Securities
Accumulated Other Comprehensive Income (Loss)
Beginning balance	(440)		(380)
Beginning balance after reclassifications	(440)		(380)		(380)
Other comprehensive (loss) income before reclassifications	(8)		(64)
Amounts reclassified from other comprehensive (loss) income	5		1
Total other comprehensive (loss) income	(3)		(63)
Ending balance	(443)		(443)
Non-credit Impairment Losses on AFS Securities | Accounting Standards Update 2016-01
Accumulated Other Comprehensive Income (Loss)
Reclassification due to adoption of new accounting principle			0
Non-credit Impairment Losses on AFS Securities | Accounting Standards Update 2017-12
Accumulated Other Comprehensive Income (Loss)
Reclassification due to adoption of new accounting principle			0
Unrealized Gains and (Losses) on Derivatives
Accumulated Other Comprehensive Income (Loss)
Beginning balance	(4,329)		(8,338)
Beginning balance after reclassifications	(4,329)		(8,338)		(8,399)
Other comprehensive (loss) income before reclassifications	221		2,636
Amounts reclassified from other comprehensive (loss) income	472		2,127
Total other comprehensive (loss) income	693		4,763
Ending balance	(3,636)		(3,636)
Unrealized Gains and (Losses) on Derivatives | Accounting Standards Update 2016-01
Accumulated Other Comprehensive Income (Loss)
Reclassification due to adoption of new accounting principle			0
Unrealized Gains and (Losses) on Derivatives | Accounting Standards Update 2017-12
Accumulated Other Comprehensive Income (Loss)
Reclassification due to adoption of new accounting principle			(61)
Defined Benefit Pension Plan
Accumulated Other Comprehensive Income (Loss)
Beginning balance	(25,059)		(25,283)
Beginning balance after reclassifications	(25,059)		(25,283)		(25,283)
Other comprehensive (loss) income before reclassifications	0		0
Amounts reclassified from other comprehensive (loss) income	113	$ 59	337	$ 177
Total other comprehensive (loss) income	113		337
Ending balance	(24,946)		(24,946)
Defined Benefit Pension Plan | Accounting Standards Update 2016-01
Accumulated Other Comprehensive Income (Loss)
Reclassification due to adoption of new accounting principle			0
Defined Benefit Pension Plan | Accounting Standards Update 2017-12
Accumulated Other Comprehensive Income (Loss)
Reclassification due to adoption of new accounting principle			0
Total Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss)
Beginning balance	(69,124)		(46,005)
Beginning balance after reclassifications	(69,124)		(46,005)		$ (46,546)
Ending balance	$ (76,944)		$ (76,944)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Reclassifications from AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Reclassification Out Of Accumulated Other Comprehensive Loss
(Losses) gains on securities transactions, net	$ (79)	$ 6	$ (880)	$ 5
Tax effect	(18,046)	(17,088)	(50,191)	(55,873)
Total net of tax	69,559	39,649	184,326	135,809
Interest expense	(80,241)	(46,796)	(209,504)	(125,570)
Total reclassifications, net of tax	(642)	(1,147)	(3,095)	(3,970)
Unrealized (losses) gains on AFS securities before tax
Reclassification Out Of Accumulated Other Comprehensive Loss
Total reclassifications, net of tax	(52)		(630)
Non-credit impairment losses on AFS securities before tax
Reclassification Out Of Accumulated Other Comprehensive Loss
Total reclassifications, net of tax	(5)		(1)
Unrealized losses on derivatives (cash flow hedges) before tax
Reclassification Out Of Accumulated Other Comprehensive Loss
Total reclassifications, net of tax	(472)		(2,127)
Defined benefit pension plan
Reclassification Out Of Accumulated Other Comprehensive Loss
Amortization of net loss	(157)	(101)	(471)	(303)
Tax effect	44	42	134	126
Total reclassifications, net of tax	(113)	(59)	(337)	(177)
Reclassification Out of Accumulated Other Comprehensive Income (Loss)
Reclassification Out Of Accumulated Other Comprehensive Loss
Interest expense	(660)	(1,930)	(2,977)	(6,762)
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	(79)	6	(880)	5
Tax effect	27	(2)	250	(1)
Total net of tax	(52)	4	(630)	4
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	2	(27)	0	(117)
Total net of tax	(5)	40	(1)	166
Interest and dividends on investment securities (taxable)	(7)	67	(1)	283
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	188	798	850	2,799
Total net of tax	(472)	(1,132)	(2,127)	(3,963)
Interest expense	$ (660)	$ (1,930)	$ (2,977)	$ (6,762)

New Authoritative Accounting _3

New Authoritative Accounting Guidance (Details) - USD ($) $ in Millions	Jan. 01, 2019	Dec. 31, 2017
Accounting Standards Update 2016-16
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect adjustment that reduced retained earnings		$ 15.4
Scenario, Forecast | Minimum | Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use assets	$ 200
Lease obligations	$ 230
Total risk-based capital	0.10%
Tier 1 capital	0.07%
Scenario, Forecast | Maximum | Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use assets	$ 250
Lease obligations	$ 280
Total risk-based capital	0.12%
Tier 1 capital	0.09%

Fair Value Measurement of Ass_3

Fair Value Measurement of Assets and Liabilities - Recurring and Non-Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Investment securities
Available for sale	$ 1,749,001	$ 1,493,905
Non-recurring fair value measurements
Unpaid principal balances of loans held for sale	31,400	14,800
U.S. Treasury securities
Investment securities
Available for sale	48,363	49,642
U.S. government agency securities
Investment securities
Available for sale	36,513	42,505
Obligations of states and political subdivisions
Investment securities
Available for sale	205,237	112,884
Residential mortgage-backed securities
Investment securities
Available for sale	1,412,849	1,223,295
Trust preferred securities
Investment securities
Available for sale	1,590	3,214
Corporate and other debt securities
Investment securities
Available for sale	44,449	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	55,950
Available-for-sale		58,807
Loans held for sale	0	0
Other assets	0	0
Total assets	55,950	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	48,363
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	7,587
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	1,686,873
Available-for-sale		1,427,738
Loans held for sale	31,675	15,119
Other assets	28,539	26,417
Total assets	1,747,087	1,469,274
Liabilities
Other liabilities	44,917	24,330
Total liabilities	44,917	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	36,513
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	205,237
Available-for-sale		112,884
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Residential mortgage-backed securities
Investment securities
Available for sale	1,406,671
Available-for-sale		1,215,935
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Trust preferred securities
Investment securities
Available for sale	1,590
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	36,862
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	6,178
Available-for-sale		7,360
Loans held for sale	0	0
Other assets	0	0
Total assets	6,178	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	6,178
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	373	5,350
Foreclosed assets	4,450	3,472
Total	41,780	57,195
Fair Value | Recurring fair value measurements
Investment securities
Available for sale	1,749,001
Available-for-sale		1,493,905
Loans held for sale	31,675	15,119
Other assets	28,539	26,417
Total assets	1,809,215	1,535,441
Liabilities
Other liabilities	44,917	24,330
Total liabilities	44,917	24,330
Fair Value | Recurring fair value measurements | U.S. Treasury securities
Investment securities
Available for sale	48,363
Available-for-sale		49,642
Fair Value | Recurring fair value measurements | U.S. government agency securities
Investment securities
Available for sale	36,513
Available-for-sale		42,505
Fair Value | Recurring fair value measurements | Obligations of states and political subdivisions
Investment securities
Available for sale	205,237
Available-for-sale		112,884
Fair Value | Recurring fair value measurements | Residential mortgage-backed securities
Investment securities
Available for sale	1,412,849
Available-for-sale		1,223,295
Fair Value | Recurring fair value measurements | Trust preferred securities
Investment securities
Available for sale	1,590
Available-for-sale		3,214
Fair Value | Recurring fair value measurements | Corporate and other debt securities
Investment securities
Available for sale	44,449
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	373	5,350
Foreclosed assets	4,450	3,472
Total	$ 41,780	$ 57,195

Fair Value Measurement of Ass_4

Fair Value Measurement of Assets and Liabilities - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Fair Value Assets Measured On Recurring Basis
Impaired collateral dependent loans, charge-offs			$ 0	$ 2,100,000
Collateral dependent impaired loans, recorded investment	$ 60,200,000		60,200,000
Specific valuation allowance allocations	23,200,000		23,200,000
Reported net carrying amount of impaired loans	37,000,000		$ 37,000,000
Valuation of loan servicing rights, discount rate			8.00%
Net recoveries of net impairment charges	48,000	$ 134,000	$ 365,000	185,000
Foreclosed assets measured at fair value upon initial recognition			4,500,000
Foreclosed asset charge-offs	267,000	536,000	1,500,000	1,500,000
Loss due to re-measurement of repossessed assets	$ 245,000	$ 0	$ 390,000	$ 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%

Fair Value Measurement of Ass_5

Fair Value Measurement of Assets and Liabilities - Carrying Amounts and Estimated Fair Values (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest bearing deposits with banks	$ 93,726	$ 172,800
Total investment securities held to maturity	2,016,354	1,837,620
Accrued interest receivable	92,666	73,990
Deposits with stated maturities	5,416,571	3,563,521
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investment securities held to maturity	2,072,363	1,842,691
Carrying Amount | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and due from banks	262,653	243,310
Interest bearing deposits with banks	93,726	172,800
Accrued interest receivable	92,666	73,990
Federal Reserve Bank and Federal Home Loan Bank stock	271,905	178,668
Deposits without stated maturities	17,171,701	14,589,941
Short-term borrowings	2,968,431	748,628
Accrued interest payable	17,844	14,161
Carrying Amount | Level 1 | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investment securities held to maturity	138,557	138,676
Carrying Amount | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deposits with stated maturities	5,416,571	3,563,521
Long-term borrowings	1,728,805	2,315,819
Junior subordinated debentures issued to capital trusts	55,283	41,774
Carrying Amount | Level 2 | U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investment securities held to maturity	8,846	9,859
Carrying Amount | Level 2 | Obligations of states and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investment securities held to maturity	596,360	465,878
Carrying Amount | Level 2 | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investment securities held to maturity	1,259,772	1,131,945
Carrying Amount | Level 2 | Trust preferred securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investment securities held to maturity	37,328	49,824
Carrying Amount | Level 2 | Corporate and other debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investment securities held to maturity	31,500	46,509
Carrying Amount | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net loans	23,966,327	18,210,724
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investment securities held to maturity	2,016,354	1,837,620
Fair Value | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and due from banks	262,653	243,310
Interest bearing deposits with banks	93,726	172,800
Accrued interest receivable	92,666	73,990
Federal Reserve Bank and Federal Home Loan Bank stock	271,905	178,668
Deposits without stated maturities	17,171,701	14,589,941
Short-term borrowings	2,786,568	679,316
Accrued interest payable	17,844	14,161
Fair Value | Level 1 | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investment securities held to maturity	140,269	145,257
Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deposits with stated maturities	5,351,921	3,465,373
Long-term borrowings	1,639,788	2,453,797
Junior subordinated debentures issued to capital trusts	47,715	37,289
Fair Value | Level 2 | U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investment securities held to maturity	8,541	9,981
Fair Value | Level 2 | Obligations of states and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investment securities held to maturity	593,423	477,479
Fair Value | Level 2 | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investment securities held to maturity	1,211,756	1,118,044
Fair Value | Level 2 | Trust preferred securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investment securities held to maturity	31,153	40,088
Fair Value | Level 2 | Corporate and other debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investment securities held to maturity	31,212	46,771
Fair Value | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net loans	$ 23,104,688	$ 17,562,153

Investment Securities - Amortiz

Investment Securities - Amortized Cost, Held to Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Schedule of Held-to-maturity Securities
Amortized Cost	$ 2,072,363	$ 1,842,691
Gross Unrealized Gains	9,789	25,419
Gross Unrealized Losses	(65,798)	(30,490)
Fair Value	2,016,354	1,837,620
U.S. Treasury securities
Schedule of Held-to-maturity Securities
Amortized Cost	138,557	138,676
Gross Unrealized Gains	1,853	6,581
Gross Unrealized Losses	(141)	0
Fair Value	140,269	145,257
U.S. government agency securities
Schedule of Held-to-maturity Securities
Amortized Cost	8,846	9,859
Gross Unrealized Gains	0	122
Gross Unrealized Losses	(305)	0
Fair Value	8,541	9,981
Obligations of states and state agencies
Schedule of Held-to-maturity Securities
Amortized Cost	347,775	244,272
Gross Unrealized Gains	3,717	7,083
Gross Unrealized Losses	(6,970)	(1,653)
Fair Value	344,522	249,702
Municipal bonds
Schedule of Held-to-maturity Securities
Amortized Cost	248,585	221,606
Gross Unrealized Gains	2,561	6,199
Gross Unrealized Losses	(2,245)	(28)
Fair Value	248,901	227,777
Obligations of states and political subdivisions
Schedule of Held-to-maturity Securities
Amortized Cost	596,360	465,878
Gross Unrealized Gains	6,278	13,282
Gross Unrealized Losses	(9,215)	(1,681)
Fair Value	593,423	477,479
Residential mortgage-backed securities
Schedule of Held-to-maturity Securities
Amortized Cost	1,259,772	1,131,945
Gross Unrealized Gains	1,573	4,842
Gross Unrealized Losses	(49,589)	(18,743)
Fair Value	1,211,756	1,118,044
Trust preferred securities
Schedule of Held-to-maturity Securities
Amortized Cost	37,328	49,824
Gross Unrealized Gains	38	60
Gross Unrealized Losses	(6,213)	(9,796)
Fair Value	31,153	40,088
Corporate and other debt securities
Schedule of Held-to-maturity Securities
Amortized Cost	31,500	46,509
Gross Unrealized Gains	47	532
Gross Unrealized Losses	(335)	(270)
Fair Value	$ 31,212	$ 46,771

Investment Securities - Unreali

Investment Securities - Unrealized Losses and Fair Value of Held to Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Fair Value
Less than Twelve Months	$ 744,684	$ 365,182
More than Twelve Months, Fair Value	746,275	663,238
Total	1,490,959	1,028,420
Unrealized Losses
Less than Twelve Months	(16,110)	(2,702)
More than Twelve Months	(49,688)	(27,788)
Total	(65,798)	(30,490)
U.S. Treasury securities
Fair Value
Less than Twelve Months	34,660
More than Twelve Months, Fair Value	0
Total	34,660
Unrealized Losses
Less than Twelve Months	(141)
More than Twelve Months	0
Total	(141)
U.S. government agency securities
Fair Value
Less than Twelve Months	8,541
More than Twelve Months, Fair Value	0
Total	8,541
Unrealized Losses
Less than Twelve Months	(305)
More than Twelve Months	0
Total	(305)
Obligations of states and state agencies
Fair Value
Less than Twelve Months	129,321	6,342
More than Twelve Months, Fair Value	48,862	53,034
Total	178,183	59,376
Unrealized Losses
Less than Twelve Months	(3,414)	(50)
More than Twelve Months	(3,556)	(1,603)
Total	(6,970)	(1,653)
Municipal bonds
Fair Value
Less than Twelve Months	89,065	4,644
More than Twelve Months, Fair Value	528	561
Total	89,593	5,205
Unrealized Losses
Less than Twelve Months	(2,208)	(25)
More than Twelve Months	(37)	(3)
Total	(2,245)	(28)
Obligations of states and political subdivisions
Fair Value
Less than Twelve Months	218,386	10,986
More than Twelve Months, Fair Value	49,390	53,595
Total	267,776	64,581
Unrealized Losses
Less than Twelve Months	(5,622)	(75)
More than Twelve Months	(3,593)	(1,606)
Total	(9,215)	(1,681)
Residential mortgage-backed securities
Fair Value
Less than Twelve Months	467,711	344,216
More than Twelve Months, Fair Value	662,345	570,969
Total	1,130,056	915,185
Unrealized Losses
Less than Twelve Months	(9,928)	(2,357)
More than Twelve Months	(39,661)	(16,386)
Total	(49,589)	(18,743)
Trust preferred securities
Fair Value
Less than Twelve Months	0	0
More than Twelve Months, Fair Value	29,761	38,674
Total	29,761	38,674
Unrealized Losses
Less than Twelve Months	0	0
More than Twelve Months	(6,213)	(9,796)
Total	(6,213)	(9,796)
Corporate and other debt securities
Fair Value
Less than Twelve Months	15,386	9,980
More than Twelve Months, Fair Value	4,779	0
Total	20,165	9,980
Unrealized Losses
Less than Twelve Months	(114)	(270)
More than Twelve Months	(221)	0
Total	$ (335)	$ (270)

Investment Securities - Additio

Investment Securities - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)security	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)security	Sep. 30, 2017USD ($)	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	409		409		152
Fair value of investments held to maturity pledged as collateral	$ 1,200,000,000		$ 1,200,000,000
Weighted-average remaining expected life of residential mortgage-backed securities held to maturity, years			6 years 9 months
Number of security positions in the securities available for sale portfolio in an unrealized loss position (in security) | security	572		572		327
Fair value of securities available for sale pledged as collateral	$ 1,100,000,000		$ 1,100,000,000
Weighted-average remaining expected life of residential mortgage-backed securities available for sale, years			7 years 1 month 14 days
Other than temporary impairment losses recognized in earnings	0	$ 0	$ 0	$ 0
Amortized cost	1,816,527,000		1,816,527,000		$ 1,511,034,000
Available for sale	1,749,001,000		1,749,001,000		$ 1,493,905,000
Losses on securities transactions, net	$ 79,000	$ (6,000)	$ 880,000	$ (5,000)
Four Private Label Mortgage-Backed Securities
Investment Securities [Line Items]
Number of security positions in the securities available for sale portfolio in an unrealized loss position (in security) | security	4		4
Amortized cost	$ 6,800,000		$ 6,800,000
Available for sale	$ 6,200,000		$ 6,200,000
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	Sep. 30, 2018	Dec. 31, 2017
Amortized Cost
Due in one year	$ 21,825
Due after one year through five years	231,676
Due after five years through ten years	295,711
Due after ten years	263,379
Residential mortgage-backed securities	1,259,772
Amortized Cost	2,072,363	$ 1,842,691
Fair Value
Due in one year	21,850
Due after one year through five years	233,954
Due after five years through ten years	300,013
Due after ten years	248,781
Residential mortgage-backed securities	1,211,756
Total investment securities held to maturity	$ 2,016,354	$ 1,837,620

Investment Securities - Amort_2

Investment Securities - Amortized Cost, Securities Available for Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,816,527	$ 1,511,034
Gross Unrealized Gains	1,683	5,029
Gross Unrealized Losses	(69,209)	(22,158)
Fair Value	1,749,001	1,493,905
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	50,980	50,997
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(2,617)	(1,355)
Fair Value	48,363	49,642
U.S. government agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	37,618	42,384
Gross Unrealized Gains	67	158
Gross Unrealized Losses	(1,172)	(37)
Fair Value	36,513	42,505
Obligations of states and state agencies
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	106,881	38,435
Gross Unrealized Gains	41	158
Gross Unrealized Losses	(3,344)	(374)
Fair Value	103,578	38,219
Municipal bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	103,631	74,752
Gross Unrealized Gains	137	477
Gross Unrealized Losses	(2,109)	(564)
Fair Value	101,659	74,665
Obligations of states and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	210,512	113,187
Gross Unrealized Gains	178	635
Gross Unrealized Losses	(5,453)	(938)
Fair Value	205,237	112,884
Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,470,565	1,239,534
Gross Unrealized Gains	1,304	2,423
Gross Unrealized Losses	(59,020)	(18,662)
Fair Value	1,412,849	1,223,295
Trust preferred securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,789	3,726
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(199)	(512)
Fair Value	1,590	3,214
Corporate and other debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	45,063	50,701
Gross Unrealized Gains	134	623
Gross Unrealized Losses	(748)	(160)
Fair Value	$ 44,449	51,164
Equity securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		10,505
Gross Unrealized Gains		1,190
Gross Unrealized Losses		(494)
Fair Value		$ 11,201

Investment Securities - Unrea_2

Investment Securities - Unrealized Losses and Fair Value Available for Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Fair Value
Less than Twelve Months	$ 840,488	$ 489,894
More than Twelve Months	841,760	691,297
Total	1,682,248	1,181,191
Unrealized Losses
Less than Twelve Months	(23,885)	(2,932)
More than Twelve Months	(45,324)	(19,226)
Total	(69,209)	(22,158)
U.S. Treasury securities
Fair Value
Less than Twelve Months	897	916
More than Twelve Months	47,467	48,726
Total	48,364	49,642
Unrealized Losses
Less than Twelve Months	(16)	(2)
More than Twelve Months	(2,601)	(1,353)
Total	(2,617)	(1,355)
U.S. government agency securities
Fair Value
Less than Twelve Months	5,502	31,177
More than Twelve Months	23,561	0
Total	29,063	31,177
Unrealized Losses
Less than Twelve Months	(77)	(37)
More than Twelve Months	(1,095)	0
Total	(1,172)	(37)
Obligations of states and state agencies
Fair Value
Less than Twelve Months	86,962	13,337
More than Twelve Months	12,297	7,792
Total	99,259	21,129
Unrealized Losses
Less than Twelve Months	(2,850)	(131)
More than Twelve Months	(494)	(243)
Total	(3,344)	(374)
Municipal bonds
Fair Value
Less than Twelve Months	58,259	31,669
More than Twelve Months	22,850	12,133
Total	81,109	43,802
Unrealized Losses
Less than Twelve Months	(1,205)	(256)
More than Twelve Months	(904)	(308)
Total	(2,109)	(564)
Obligations of states and political subdivisions
Fair Value
Less than Twelve Months	145,221	45,006
More than Twelve Months	35,147	19,925
Total	180,368	64,931
Unrealized Losses
Less than Twelve Months	(4,055)	(387)
More than Twelve Months	(1,398)	(551)
Total	(5,453)	(938)
Residential mortgage-backed securities
Fair Value
Less than Twelve Months	667,551	406,940
More than Twelve Months	723,522	599,167
Total	1,391,073	1,006,107
Unrealized Losses
Less than Twelve Months	(19,418)	(2,461)
More than Twelve Months	(39,602)	(16,201)
Total	(59,020)	(18,662)
Trust preferred securities
Fair Value
Less than Twelve Months	0	0
More than Twelve Months	1,590	3,214
Total	1,590	3,214
Unrealized Losses
Less than Twelve Months	0	0
More than Twelve Months	(199)	(512)
Total	(199)	(512)
Corporate and other debt securities
Fair Value
Less than Twelve Months	21,317	5,855
More than Twelve Months	10,473	15,115
Total	31,790	20,970
Unrealized Losses
Less than Twelve Months	(319)	(45)
More than Twelve Months	(429)	(115)
Total	$ (748)	(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 - Contr_2

Investment Securities - Contractual Maturities of Available for Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Amortized Cost
Due in one year	$ 9,831
Due after one year through five years	128,006
Due after five years through ten years	78,226
Due after ten years	129,899
Residential mortgage-backed securities	1,470,565
Amortized Cost	1,816,527	$ 1,511,034
Fair Value
Due in one year	9,893
Due after one year through five years	123,837
Due after five years through ten years	77,112
Due after ten years	125,310
Residential mortgage-backed securities	1,412,849
Total investment securities available for sale	$ 1,749,001	$ 1,493,905

Loans - Non-Covered and Covered

Loans - Non-Covered and Covered PCI Loans and Non-PCI Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable
Loans	$ 24,111,290	$ 18,331,580
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Loans	4,015,280	2,741,425
Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Loans	13,667,490	10,347,882
Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Loans	12,251,231	9,496,777
Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable
Loans	1,416,259	851,105
Residential mortgage
Accounts, Notes, Loans and Financing Receivable
Loans	3,782,972	2,859,035
Consumer
Accounts, Notes, Loans and Financing Receivable
Loans	2,645,548	2,383,238
Consumer | Home equity
Accounts, Notes, Loans and Financing Receivable
Loans	521,797	446,280
Consumer | Automobile
Accounts, Notes, Loans and Financing Receivable
Loans	1,288,902	1,208,902
Consumer | Other consumer
Accounts, Notes, Loans and Financing Receivable
Loans	834,849	728,056
Non-PCI Loans
Accounts, Notes, Loans and Financing Receivable
Loans	19,681,255	16,944,365
Non-PCI Loans | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Loans	3,243,622	2,549,065
Non-PCI Loans | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Loans	10,629,611	9,371,815
Non-PCI Loans | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Loans	9,607,279	8,561,851
Non-PCI Loans | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable
Loans	1,022,332	809,964
Non-PCI Loans | Residential mortgage
Accounts, Notes, Loans and Financing Receivable
Loans	3,331,985	2,717,744
Non-PCI Loans | Consumer
Accounts, Notes, Loans and Financing Receivable
Loans	2,476,037	2,305,741
Non-PCI Loans | Consumer | Home equity
Accounts, Notes, Loans and Financing Receivable
Loans	366,941	373,631
Non-PCI Loans | Consumer | Automobile
Accounts, Notes, Loans and Financing Receivable
Loans	1,288,500	1,208,804
Non-PCI Loans | Consumer | Other consumer
Accounts, Notes, Loans and Financing Receivable
Loans	820,596	723,306
PCI Loans
Accounts, Notes, Loans and Financing Receivable
Loans	4,430,035	1,387,215
Covered loans	29,100	38,700
PCI Loans | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Loans	771,658	192,360
PCI Loans | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Loans	3,037,879	976,067
PCI Loans | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Loans	2,643,952	934,926
PCI Loans | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable
Loans	393,927	41,141
PCI Loans | Residential mortgage
Accounts, Notes, Loans and Financing Receivable
Loans	450,987	141,291
PCI Loans | Consumer
Accounts, Notes, Loans and Financing Receivable
Loans	169,511	77,497
PCI Loans | Consumer | Home equity
Accounts, Notes, Loans and Financing Receivable
Loans	154,856	72,649
PCI Loans | Consumer | Automobile
Accounts, Notes, Loans and Financing Receivable
Loans	402	98
PCI Loans | Consumer | Other consumer
Accounts, Notes, Loans and Financing Receivable
Loans	$ 14,253	$ 4,750

Loans - Additional Information

Loans - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable
Non-covered loans net of unearned premiums and deferred loan fees	$ 16,700,000		$ 16,700,000		$ 22,200,000
Outstanding balances for PCI loans	4,600,000,000		4,600,000,000		1,500,000,000
Transfer of loans to loans held for sale			289,633,000	$ 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	81,100,000		$ 81,100,000		117,200,000
Non-performing TDRs	54,800,000		54,800,000		27,000,000
Specific reserves for loan losses			6,300,000	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
Other real estate owned	$ 9,900,000		$ 9,900,000		9,800,000
Residential real estate properties
Accounts, Notes, Loans and Financing Receivable
Other real estate owned	1,600,000		1,600,000		7,300,000
In formal foreclosure proceedings
Accounts, Notes, Loans and Financing Receivable
Residential mortgage and consumer loans secured by residential real estate properties	$ 2,200,000		2,200,000		$ 3,800,000
Residential mortgage
Accounts, Notes, Loans and Financing Receivable
Transfer of loans to loans held for sale			$ 289,600,000	$ 225,500,000

Loans - USAB Acquisition (Detai

Loans - USAB Acquisition (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Jun. 30, 2018	Jan. 01, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016
Business Combination, Separately Recognized Transactions [Line Items]
Interest component of expected cash flows (accretable yield)	$ (600,166)	$ (630,550)		$ (282,009)	$ (225,652)	$ (246,278)	$ (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)			(103,618)
Expected cash flows to be collected			4,209,370
Interest component of expected cash flows (accretable yield)			(474,208)
Fair value of acquired loans			$ 3,735,162

Loans - Changes in Accretable Y

Loans - Changes in Accretable Yield (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Balance, beginning of period	$ 630,550	$ 246,278	$ 282,009	$ 294,514
Acquisition	0	0	474,208	0
Accretion	(54,367)	(20,626)	(180,034)	(68,862)
Net increase in expected cash flows	23,983	0	23,983	0
Balance, end of period	$ 600,166	$ 225,652	$ 600,166	$ 225,652

Loans - Past Due, Non-Accrual a

Loans - Past Due, Non-Accrual and Current Non-Covered Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	$ 78,363	$ 47,225
Total Past Due Loans	136,581	127,706
Current Non-PCI Loans	19,544,674	16,816,659
Total Non-PCI Loans	19,681,255	16,944,365
30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	45,926	48,900
60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	8,488	28,491
Accruing Loans 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	3,804	3,090
Commercial and industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	52,929	20,890
Total Past Due Loans	65,440	25,084
Current Non-PCI Loans	3,178,182	2,523,981
Total Non-PCI Loans	3,243,622	2,549,065
Commercial and industrial | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	9,462	3,650
Commercial and industrial | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	1,431	544
Commercial and industrial | Accruing Loans 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	1,618	0
Commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	7,103	12,060
Total Past Due Loans	28,631	55,104
Current Non-PCI Loans	10,600,980	9,316,711
Total Non-PCI Loans	10,629,611	9,371,815
Commercial real estate | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	18,963	24,172
Commercial real estate | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	2,538	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	7,103	11,328
Total Past Due Loans	13,019	22,578
Current Non-PCI Loans	9,594,260	8,539,273
Total Non-PCI Loans	9,607,279	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	3,387	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	2,502	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	0	732
Total Past Due Loans	15,612	32,526
Current Non-PCI Loans	1,006,720	777,438
Total Non-PCI Loans	1,022,332	809,964
Commercial real estate | Construction | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	15,576	12,949
Commercial real estate | Construction | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	36	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	16,083	12,405
Total Past Due Loans	31,288	35,756
Current Non-PCI Loans	3,300,697	2,681,988
Total Non-PCI Loans	3,331,985	2,717,744
Residential mortgage | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	10,058	12,669
Residential mortgage | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	3,270	7,903
Residential mortgage | Accruing Loans 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	1,877	2,779
Consumer loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	2,248	1,870
Total Past Due Loans	11,222	11,762
Current Non-PCI Loans	2,464,815	2,293,979
Total Non-PCI Loans	2,476,037	2,305,741
Consumer loans | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	7,443	8,409
Consumer loans | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	1,249	1,199
Consumer loans | Accruing Loans 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	282	284
Consumer loans | Home equity
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	2,060	1,777
Total Past Due Loans	2,831	2,880
Current Non-PCI Loans	364,110	370,751
Total Non-PCI Loans	366,941	373,631
Consumer loans | Home equity | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	506	1,009
Consumer loans | Home equity | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	265	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	72	73
Total Past Due Loans	6,902	7,038
Current Non-PCI Loans	1,281,598	1,201,766
Total Non-PCI Loans	1,288,500	1,208,804
Consumer loans | Automobile | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	5,950	5,707
Consumer loans | Automobile | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	619	987
Consumer loans | Automobile | Accruing Loans 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	261	271
Consumer loans | Other consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	116	20
Total Past Due Loans	1,489	1,844
Current Non-PCI Loans	819,107	721,462
Total Non-PCI Loans	820,596	723,306
Consumer loans | Other consumer | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	987	1,693
Consumer loans | Other consumer | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	365	118
Consumer loans | Other consumer | Accruing Loans 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	$ 21	$ 13

Loans - Impaired Loans (Details

Loans - Impaired Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	$ 34,542	$ 49,309
Recorded Investment With Related Allowance	117,457	114,857
Total Recorded Investment	151,999	164,166
Unpaid Contractual Principal Balance	162,485	175,198
Related Allowance	31,143	14,561
Commercial and industrial
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	5,294	9,946
Recorded Investment With Related Allowance	81,319	75,553
Total Recorded Investment	86,613	85,499
Unpaid Contractual Principal Balance	91,998	90,269
Related Allowance	27,662	11,044
Commercial real estate
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	22,700	30,613
Recorded Investment With Related Allowance	29,098	30,238
Total Recorded Investment	51,798	60,851
Unpaid Contractual Principal Balance	55,785	64,680
Related Allowance	2,782	2,735
Commercial real estate | Commercial real estate
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	22,279	28,709
Recorded Investment With Related Allowance	28,638	29,771
Total Recorded Investment	50,917	58,480
Unpaid Contractual Principal Balance	54,904	62,286
Related Allowance	2,768	2,718
Commercial real estate | Construction
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	421	1,904
Recorded Investment With Related Allowance	460	467
Total Recorded Investment	881	2,371
Unpaid Contractual Principal Balance	881	2,394
Related Allowance	14	17
Residential mortgage
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	6,362	5,654
Recorded Investment With Related Allowance	6,420	8,402
Total Recorded Investment	12,782	14,056
Unpaid Contractual Principal Balance	13,801	15,332
Related Allowance	620	718
Consumer loans
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	186	3,096
Recorded Investment With Related Allowance	620	664
Total Recorded Investment	806	3,760
Unpaid Contractual Principal Balance	901	4,917
Related Allowance	79	64
Consumer loans | Home equity
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	186	3,096
Recorded Investment With Related Allowance	620	664
Total Recorded Investment	806	3,760
Unpaid Contractual Principal Balance	901	4,917
Related Allowance	$ 79	$ 64

Loans - Average Recorded Invest

Loans - Average Recorded Investment and Interest Income on Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Accounts, Notes, Loans and Financing Receivable
Average Recorded Investment	$ 155,776	$ 151,292	$ 158,980	$ 132,262
Interest Income Recognized	1,162	1,035	3,722	2,944
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Average Recorded Investment	87,414	70,135	88,376	49,037
Interest Income Recognized	422	300	1,348	896
Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Average Recorded Investment	51,796	60,761	54,804	60,554
Interest Income Recognized	571	503	1,789	1,350
Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Average Recorded Investment	50,809	57,712	52,993	57,718
Interest Income Recognized	556	482	1,735	1,290
Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable
Average Recorded Investment	987	3,049	1,811	2,836
Interest Income Recognized	15	21	54	60
Residential mortgage
Accounts, Notes, Loans and Financing Receivable
Average Recorded Investment	14,112	15,630	13,707	17,851
Interest Income Recognized	152	183	502	575
Consumer loans
Accounts, Notes, Loans and Financing Receivable
Average Recorded Investment	2,454	4,766	2,093	4,820
Interest Income Recognized	17	49	83	123
Consumer loans | Home equity
Accounts, Notes, Loans and Financing Receivable
Average Recorded Investment	2,454	4,766	2,093	4,820
Interest Income Recognized	$ 17	$ 49	$ 83	$ 123

Loans - Pre-Modification and Po

Loans - Pre-Modification and Post-Modification (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)contract	Sep. 30, 2017USD ($)contract	Sep. 30, 2018USD ($)contract	Sep. 30, 2017USD ($)contract
Troubled Debt Restructurings
Number of contracts, troubled restructurings (in contract) | contract	7	18	36	77
Pre-Modification Outstanding Recorded Investment	$ 4,203	$ 19,642	$ 20,559	$ 83,846
Post-Modification Outstanding Recorded Investment	$ 3,982	$ 18,766	$ 19,728	$ 78,400
Number of contracts, troubled debt restructurings subsequently defaulted (in contract) | contract	9	4	13	8
Recorded Investment	$ 4,660	$ 1,093	$ 7,785	$ 7,162
Commercial and industrial
Troubled Debt Restructurings
Number of contracts, troubled restructurings (in contract) | contract	6	10	22	61
Pre-Modification Outstanding Recorded Investment	$ 3,970	$ 12,522	$ 14,719	$ 57,338
Post-Modification Outstanding Recorded Investment	$ 3,751	$ 11,655	$ 13,904	$ 52,694
Number of contracts, troubled debt restructurings subsequently defaulted (in contract) | contract	4	0	8	7
Recorded Investment	$ 3,645	$ 0	$ 6,770	$ 6,430
Commercial real estate
Troubled Debt Restructurings
Number of contracts, troubled restructurings (in contract) | contract	1	6	8	10
Pre-Modification Outstanding Recorded Investment	$ 233	$ 6,559	$ 4,772	$ 24,994
Post-Modification Outstanding Recorded Investment	$ 231	$ 6,554	$ 4,789	$ 24,211
Commercial real estate | Commercial real estate
Troubled Debt Restructurings
Number of contracts, troubled restructurings (in contract) | contract	1	4	6	7
Pre-Modification Outstanding Recorded Investment	$ 233	$ 5,931	$ 4,207	$ 23,806
Post-Modification Outstanding Recorded Investment	$ 231	$ 5,929	$ 4,504	$ 23,217
Number of contracts, troubled debt restructurings subsequently defaulted (in contract) | contract			0	1
Recorded Investment			$ 0	$ 732
Commercial real estate | Construction
Troubled Debt Restructurings
Number of contracts, troubled restructurings (in contract) | contract	0	2	2	3
Pre-Modification Outstanding Recorded Investment	$ 0	$ 628	$ 565	$ 1,188
Post-Modification Outstanding Recorded Investment	$ 0	$ 625	$ 285	$ 994
Residential mortgage
Troubled Debt Restructurings
Number of contracts, troubled restructurings (in contract) | contract	0	2	5	6
Pre-Modification Outstanding Recorded Investment	$ 0	$ 561	$ 980	$ 1,514
Post-Modification Outstanding Recorded Investment	$ 0	$ 557	$ 952	$ 1,495
Number of contracts, troubled debt restructurings subsequently defaulted (in contract) | contract	5	4	5	0
Recorded Investment	$ 1,015	$ 1,093	$ 1,015	$ 0
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			$ 83	$ 0

Loans - Risk Category of Loans

Loans - Risk Category of Loans (Details) - Non-PCI Loans - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	$ 13,873,233	$ 11,920,880
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	3,243,622	2,549,065
Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	9,607,279	8,561,851
Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	1,022,332	809,964
Pass
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	13,598,670	11,631,645
Pass | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	3,059,312	2,375,689
Pass | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	9,518,179	8,447,865
Pass | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	1,021,179	808,091
Special Mention
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	82,434	110,440
Special Mention | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	52,555	62,071
Special Mention | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	29,334	48,009
Special Mention | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	545	360
Substandard
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	142,586	164,045
Substandard | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	82,212	96,555
Substandard | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	59,766	65,977
Substandard | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	608	1,513
Doubtful
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	49,543	14,750
Doubtful | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Credit exposure - by internally assigned risk rating	49,543	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	Sep. 30, 2018	Dec. 31, 2017
Non-PCI Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	$ 5,808,022	$ 5,023,485
Non-PCI Loans | Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	3,331,985	2,717,744
Non-PCI Loans | Consumer | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	366,941	373,631
Non-PCI Loans | Consumer | Automobile
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	1,288,500	1,208,804
Non-PCI Loans | Consumer | Other consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	820,596	723,306
Non-PCI Loans | Performing Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	5,789,691	5,009,210
Non-PCI Loans | Performing Loans | Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	3,315,902	2,705,339
Non-PCI Loans | Performing Loans | Consumer | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	364,881	371,854
Non-PCI Loans | Performing Loans | Consumer | Automobile
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	1,288,428	1,208,731
Non-PCI Loans | Performing Loans | Consumer | Other consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	820,480	723,286
Non-PCI Loans | Non-Performing Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	18,331	14,275
Non-PCI Loans | Non-Performing Loans | Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	16,083	12,405
Non-PCI Loans | Non-Performing Loans | Consumer | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	2,060	1,777
Non-PCI Loans | Non-Performing Loans | Consumer | Automobile
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	72	73
Non-PCI Loans | Non-Performing Loans | Consumer | Other consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	116	20
PCI Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	4,430,035	1,387,215
PCI Loans | Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	450,987	141,291
PCI Loans | Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	169,511	77,497
PCI Loans | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	771,658	192,360
PCI Loans | Commercial real estate | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	2,643,952	934,926
PCI Loans | Commercial real estate | Construction
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	393,927	41,141
PCI Loans | Performing Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	4,354,613	1,349,127
PCI Loans | Performing Loans | Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	443,776	135,745
PCI Loans | Performing Loans | Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	165,762	76,901
PCI Loans | Performing Loans | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	729,872	172,105
PCI Loans | Performing Loans | Commercial real estate | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	2,622,330	924,574
PCI Loans | Performing Loans | Commercial real estate | Construction
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	392,873	39,802
PCI Loans | Non-Performing Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	75,422	38,088
PCI Loans | Non-Performing Loans | Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	7,211	5,546
PCI Loans | Non-Performing Loans | Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	3,749	596
PCI Loans | Non-Performing Loans | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	41,786	20,255
PCI Loans | Non-Performing Loans | Commercial real estate | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	21,622	10,352
PCI Loans | Non-Performing Loans | Commercial real estate | Construction
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	$ 1,054	$ 1,339

Allowance for Credit Losses - A

Allowance for Credit Losses - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016
Receivables [Abstract]
Allowance for loan losses	$ 144,963	$ 138,762	$ 120,856	$ 118,966	$ 116,446	$ 114,419
Allowance for unfunded letters of credit	4,512		3,596
Total allowance for credit losses	$ 149,475		$ 124,452

Allowance for Credit Losses - P

Allowance for Credit Losses - Provision for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Receivables [Abstract]
Provision for loan losses	$ 6,432	$ 1,301	$ 23,726	$ 7,413
Provision for unfunded letters of credit	120	339	916	329
Total provision for credit losses	$ 6,552	$ 1,640	$ 24,642	$ 7,742

Allowance for Credit Losses -_2

Allowance for Credit Losses - Activity in Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	$ 138,762	$ 116,446	$ 120,856	$ 114,419
Loans charged-off	(1,983)	(1,729)	(5,904)	(9,397)
Charged-off loans recovered	1,752	2,948	6,285	6,531
Net recoveries (charge-offs)	(231)	1,219	381	(2,866)
Provision for loan losses	6,432	1,301	23,726	7,413
Ending balance	144,963	118,966	144,963	118,966
Commercial and Industrial
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	74,257	51,617	57,232	50,820
Loans charged-off	(833)	(265)	(1,606)	(4,889)
Charged-off loans recovered	1,131	2,320	4,057	3,480
Net recoveries (charge-offs)	298	2,055	2,451	(1,409)
Provision for loan losses	9,442	1,017	24,314	5,278
Ending balance	83,997	54,689	83,997	54,689
Commercial Real Estate
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	53,812	55,455	54,954	55,851
Loans charged-off	0	0	(348)	(553)
Charged-off loans recovered	12	42	396	824
Net recoveries (charge-offs)	12	42	48	271
Provision for loan losses	(3,694)	(198)	(4,872)	(823)
Ending balance	50,130	55,299	50,130	55,299
Residential Mortgage
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	4,624	4,186	3,605	3,702
Loans charged-off	0	(129)	(167)	(488)
Charged-off loans recovered	9	220	269	903
Net recoveries (charge-offs)	9	91	102	415
Provision for loan losses	286	(385)	1,212	(225)
Ending balance	4,919	3,892	4,919	3,892
Consumer
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	6,069	5,188	5,065	4,046
Loans charged-off	(1,150)	(1,335)	(3,783)	(3,467)
Charged-off loans recovered	600	366	1,563	1,324
Net recoveries (charge-offs)	(550)	(969)	(2,220)	(2,143)
Provision for loan losses	398	867	3,072	3,183
Ending balance	$ 5,917	$ 5,086	$ 5,917	$ 5,086

Allowance for Credit Losses -_3

Allowance for Credit Losses - Allocation of Allowance for Loan Losses and Related Loans by Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016
Allowance for loan losses:
Individually evaluated for impairment	$ 31,143		$ 14,561
Collectively evaluated for impairment	113,820		106,295
Total	144,963	$ 138,762	120,856	$ 118,966	$ 116,446	$ 114,419
Individually evaluated for impairment	151,999		164,166
Collectively evaluated for impairment	19,529,256		16,780,199
Total	24,111,290		18,331,580
Loans acquired with discounts related to credit quality
Allowance for loan losses:
Total	4,430,035		1,387,215
Commercial and Industrial
Allowance for loan losses:
Individually evaluated for impairment	27,662		11,044
Collectively evaluated for impairment	56,335		46,188
Total	83,997	74,257	57,232	54,689	51,617	50,820
Individually evaluated for impairment	86,613		85,499
Collectively evaluated for impairment	3,157,009		2,463,566
Total	4,015,280		2,741,425
Commercial and Industrial | Loans acquired with discounts related to credit quality
Allowance for loan losses:
Total	771,658		192,360
Commercial Real Estate
Allowance for loan losses:
Individually evaluated for impairment	2,782		2,735
Collectively evaluated for impairment	47,348		52,219
Total	50,130	53,812	54,954	55,299	55,455	55,851
Individually evaluated for impairment	51,798		60,851
Collectively evaluated for impairment	10,577,813		9,310,964
Total	13,667,490		10,347,882
Commercial Real Estate | Loans acquired with discounts related to credit quality
Allowance for loan losses:
Total	3,037,879		976,067
Residential Mortgage
Allowance for loan losses:
Individually evaluated for impairment	620		718
Collectively evaluated for impairment	4,299		2,887
Total	4,919	4,624	3,605	3,892	4,186	3,702
Individually evaluated for impairment	12,782		14,056
Collectively evaluated for impairment	3,319,203		2,703,688
Total	3,782,972		2,859,035
Residential Mortgage | Loans acquired with discounts related to credit quality
Allowance for loan losses:
Total	450,987		141,291
Consumer
Allowance for loan losses:
Individually evaluated for impairment	79		64
Collectively evaluated for impairment	5,838		5,001
Total	5,917	$ 6,069	5,065	$ 5,086	$ 5,188	$ 4,046
Individually evaluated for impairment	806		3,760
Collectively evaluated for impairment	2,475,231		2,301,981
Total	2,645,548		2,383,238
Consumer | Loans acquired with discounts related to credit quality
Allowance for loan losses:
Total	$ 169,511		$ 77,497

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2018USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 690,637
Goodwill from business combinations	395,073
Goodwill, ending balance	1,085,710
Consumer Lending
Goodwill [Roll Forward]
Goodwill, beginning balance	200,103
Goodwill from business combinations	87,153
Goodwill, ending balance	287,256
Consumer Lending | Wealth Management
Goodwill [Roll Forward]
Goodwill, beginning balance	21,218
Goodwill from business combinations	0
Goodwill, ending balance	21,218
Commercial Lending
Goodwill [Roll Forward]
Goodwill, beginning balance	316,258
Goodwill from business combinations	242,232
Goodwill, ending balance	558,490
Investment Management
Goodwill [Roll Forward]
Goodwill, beginning balance	153,058
Goodwill from business combinations	65,688
Goodwill, ending balance	$ 218,746

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Jan. 01, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Goodwill from business combinations			$ 395,073,000
Goodwill impairment	$ 0	$ 0	0	$ 0
Gross intangible assets	170,813,000		170,813,000			$ 126,621,000
Amortization of other intangible assets	4,697,000	2,498,000	$ 13,607,000	7,596,000
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	86,398,000		$ 86,398,000		$ 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
USAmeriBancorp, Inc.
Finite-Lived Intangible Assets [Line Items]
Goodwill from business combinations	$ 6,800,000
USAmeriBancorp, Inc. | Core Deposits
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, years			10 years

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	$ 170,813		$ 126,621
Accumulated Amortization	(89,936)		(83,643)
Valuation Allowance	(106)		(471)
Net Intangible Assets	80,771		42,507
Loan servicing rights
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	86,398	$ 1,400	79,138
Accumulated Amortization	(61,507)		(57,054)
Valuation Allowance	(106)		(471)
Net Intangible Assets	24,785		21,613
Core deposits
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	80,470	$ 44,600	43,396
Accumulated Amortization	(26,092)		(24,297)
Valuation Allowance	0		0
Net Intangible Assets	54,378		19,099
Other
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	3,945		4,087
Accumulated Amortization	(2,337)		(2,292)
Valuation Allowance	0		0
Net Intangible Assets	$ 1,608		$ 1,795

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Future Amortization Expense (Details) $ in Thousands	Sep. 30, 2018USD ($)
Loan Servicing Rights
Finite-Lived Intangible Assets [Line Items]
2,018	$ 1,654
2,019	5,437
2,020	4,411
2,021	3,456
2,022	2,791
Core Deposits
Finite-Lived Intangible Assets [Line Items]
2,018	3,043
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	62
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	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 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)		$ 3.7	$ 2.7	$ 15.8	$ 9.6
Stock-based compensation amortization expense unrecognized (in USD)		$ 20		$ 20
Average remaining vesting period (in years)				2 years 2 months 15 days
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)		826,000		826,000
Weighted average exercise price (in USD per share)		$ 5.47		$ 5.47
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)				$ 11.88	$ 11.71
Award vesting rights as a percentage				33.33%

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue [Line Items]
Insurance commissions	$ 3,646	$ 4,519	$ 11,493	$ 13,938
(Losses) gains on securities transactions, net	(79)	6	(880)	5
Fees from loan servicing	2,573	1,895	6,841	5,541
Gains on sales of loans, net	3,748	5,520	18,143	14,439
Bank owned life insurance	2,545	1,541	6,960	5,705
Other	6,865	4,896	26,637	17,177
Total non-interest income	29,038	26,997	99,358	81,547
Trust and investment services
Disaggregation of Revenue [Line Items]
Revenue from contracts with customer	3,143	3,062	9,635	8,606
Service charges on deposit accounts
Disaggregation of Revenue [Line Items]
Revenue from contracts with customer	$ 6,597	$ 5,558	$ 20,529	$ 16,136

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Additional Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)swap	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)swap	Sep. 30, 2017USD ($)	May 31, 2018USD ($)	Dec. 31, 2017USD ($)
Derivative [Line Items]
Number of credit swaps | swap	17		17
Derivative instrument not designated as hedging instruments, liability	$ 10,400		$ 10,400
Aggregate fair value of net liability position	1,800		1,800
Interest rate swaps
Derivative [Line Items]
Accumulated net after-tax losses related to effective cash flow hedges	3,600		3,600			$ 8,300
Estimated amount of interest rate derivatives to be reclassified to interest expense			1,200
Cash flow hedge | Interest rate swaps | CME
Derivative [Line Items]
CME variation margins	70		70
Fair value hedge | Noninterest Income | Interest rate swaps
Derivative [Line Items]
Fee income related to derivative interest rate swaps executed with commercial loan customers	4,000	$ 910	11,700	$ 5,700
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	23,100		23,100			9,500
Derivatives not designated as hedging instruments
Derivative [Line Items]
Aggregate notional amount of derivative asset	97,800		97,800
Derivatives not designated as hedging instruments | Interest rate swaps | CME
Derivative [Line Items]
CME variation margins	$ 318		$ 318			$ 951

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Balance Sheet Disclosures (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Interest rate swaps
Derivative [Line Items]
Other Assets	$ 0	$ 0
Other Liabilities	44,649	24,212
Derivatives designated as hedging instruments
Derivative [Line Items]
Other Assets	0	650
Other Liabilities	389	718
Notional Amount	489,597	614,775
Derivatives designated as hedging instruments | Cash flow hedge interest rate swaps and caps | Interest rate swaps
Derivative [Line Items]
Other Assets	0	650
Other Liabilities	44	81
Notional Amount	482,000	607,000
Derivatives designated as hedging instruments | Fair value hedge interest rate swaps | Interest rate swaps
Derivative [Line Items]
Other Assets	0	0
Other Liabilities	345	637
Notional Amount	7,597	7,775
Derivatives not designated as hedging instruments
Derivative [Line Items]
Other Assets	28,539	25,767
Other Liabilities	44,528	23,612
Notional Amount	3,370,877	1,800,238
Derivatives not designated as hedging instruments | Interest rate swaps
Derivative [Line Items]
Other Assets	28,205	25,696
Other Liabilities	44,260	23,494
Notional Amount	3,252,701	1,687,005
Derivatives not designated as hedging instruments | Mortgage banking derivatives
Derivative [Line Items]
Other Assets	334	71
Other Liabilities	268	118
Notional Amount	$ 118,176	$ 113,233

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Interest Rate Derivatives Designated as Cash Flow Hedges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 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	$ (80,241)	$ (46,796)	$ (209,504)	$ (125,570)
Amount of gain (loss) recognized in other comprehensive (loss) income	310	329	3,698	(936)
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	$ (660)	$ (1,930)	$ (2,977)	$ (6,762)

Derivative Instruments and He_6

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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Interest rate swaps
Gain Loss On Fair Value Hedges Recognized In Earnings [Line Items]
Gain (loss) related to derivative interest rate swaps	$ 73	$ 75	$ 292	$ 224
Loans | Derivatives designated as hedging instruments
Gain Loss On Fair Value Hedges Recognized In Earnings [Line Items]
Gain (loss) related to hedged loans	$ (73)	$ (75)	$ (292)	$ (224)

Derivative Instruments and He_7

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	Sep. 30, 2018USD ($)
Derivative [Line Items]
Carrying Amount of the Hedged Asset	$ 7,942
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Asset	$ 345

Derivative Instruments and He_8

Derivative Instruments and Hedging Activities - (Losses) Gains Related to Derivatives Not Designated as Hedges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Non-designated hedge interest rate derivatives
Other non-interest expense	$ (8)	$ 37	$ 440	$ (753)

Balance Sheet Offsetting (Detai

Balance Sheet Offsetting (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Offsetting Liabilities
Gross Amounts Recognized	$ 194,649	$ 224,212
Gross Amounts Offset	0	0
Net Amounts Presented	194,649	224,212
Gross Amounts Not Offset, Financial Instruments	(159)	(5,376)
Gross Amounts Not Offset, Cash Collateral	(148,564)	(208,141)
Net Amount	45,926	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	28,205	26,346
Gross Amounts Offset	0	0
Net Amounts Presented	28,205	26,346
Gross Amounts Not Offset, Financial Instruments	(159)	(5,376)
Gross Amounts Not Offset, Cash Collateral	0	0
Net Amount	28,046	20,970
Offsetting Liabilities
Gross Amounts Recognized	44,649	24,212
Gross Amounts Offset	0	0
Net Amounts Presented	44,649	24,212
Gross Amounts Not Offset, Financial Instruments	(159)	(5,376)
Gross Amounts Not Offset, Cash Collateral	1,436	(8,141)
Net Amount	$ 45,926	$ 10,695

Tax Credit Investments - Balanc

Tax Credit Investments - Balance Sheet Disclosures (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Other Assets
Other Assets:
Affordable housing tax credit investments, net	$ 38,807	$ 22,135
Other tax credit investments, net	33,440	42,015
Total tax credit investments, net	72,247	64,150
Other Liabilities
Other Liabilities:
Unfunded affordable housing tax credit commitments	4,628	3,690
Unfunded other tax credit commitments	9,071	15,020
Total unfunded tax credit commitments	$ 13,699	$ 18,710

Tax Credit Investments - Income

Tax Credit Investments - Income Statement Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Components of Income Tax Expense:
Affordable housing tax credits and other tax benefits	$ 1,761	$ 1,965	$ 5,011	$ 4,520
Other tax credit investment credits and tax benefits	5,817	7,859	16,982	22,825
Total reduction in income tax expense	7,578	9,824	21,993	27,345
Non-Interest Expenses
Amortization of Tax Credit Investments:
Affordable housing tax credit investment losses	708	1,183	1,375	1,937
Affordable housing tax credit investment impairment losses	558	979	1,660	1,233
Other tax credit investment losses	1,103	307	2,893	2,134
Other tax credit investment impairment losses	3,043	5,920	9,228	16,141
Total amortization of tax credit investments recorded in non-interest expense	$ 5,412	$ 8,389	$ 15,156	$ 21,445