Valley National Bancorp (VLY) 10-K 28 Feb 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2018	Feb. 26, 2019	Jun. 30, 2018
Document And Entity Information [Abstract]
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Trading Symbol	VLY
Amendment Flag	false
Entity Registrant Name	Valley National Bancorp
Entity CIK	714,310
Current Fiscal Year End Date	--12-31
Entity Well-known Season Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		331,983,842
Entity Public Float			$ 3.9

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets
Cash and due from banks	$ 251,541	$ 243,310
Interest bearing deposits with banks	177,088	172,800
Investment securities:
Held to maturity (fair value of $2,034,943 at December 31, 2018 and $1,837,620 at December 31, 2017)	2,068,246	1,842,691
Available for sale	1,749,544	1,493,905
Total investment securities	3,817,790	3,336,596
Loans held for sale, at fair value	35,155	15,119
Loans	25,035,469	18,331,580
Less: Allowance for loan losses	(151,859)	(120,856)
Net loans	24,883,610	18,210,724
Premises and equipment, net	341,630	287,705
Bank owned life insurance	439,602	386,079
Accrued interest receivable	95,296	73,990
Goodwill	1,084,665	690,637
Other intangible assets, net	76,990	42,507
Other assets	659,721	542,839
Total Assets	31,863,088	24,002,306
Deposits:
Non-interest bearing	6,175,495	5,224,928
Interest bearing:
Savings, NOW and money market	11,213,495	9,365,013
Time	7,063,984	3,563,521
Total deposits	24,452,974	18,153,462
Short-term borrowings	2,118,914	748,628
Long-term borrowings	1,654,268	2,315,819
Junior subordinated debentures issued to capital trusts	55,370	41,774
Accrued expenses and other liabilities	231,108	209,458
Total Liabilities	28,512,634	21,469,141
Common stock (no par value, authorized 450,000,000 shares; issued 331,634,951 shares at December 31, 2018 and 264,498,643 shares at December 31, 2017)	116,240	92,727
Surplus	2,796,499	2,060,356
Retained earnings	299,642	216,733
Accumulated other comprehensive loss	(69,431)	(46,005)
Treasury stock, at cost (203,734 shares at December 31, 2018 and 29,792 shares at December 31, 2017)	(2,187)	(337)
Total Shareholders’ Equity	3,350,454	2,533,165
Total Liabilities and Shareholders’ Equity	31,863,088	24,002,306
Series A Preferred Stock
Preferred stock, no par value; 50,000,000 shares authorized	111,590	111,590
Series B Preferred Stock
Preferred stock, no par value; 50,000,000 shares authorized	$ 98,101	$ 98,101

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Investment securities held to maturity	$ 2,034,943	$ 1,837,620
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	331,634,951	264,498,643
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	450,000,000	450,000,000
Treasury stock, shares (in shares)	203,734	29,792
Preferred Class A
Preferred stock, shares issued (in shares)	4,600,000	4,600,000
Preferred Class B
Preferred stock, shares issued (in shares)	4,000,000	4,000,000

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Interest Income
Interest and fees on loans	$ 1,033,993	$ 734,474	$ 680,876
Interest and dividends on investment securities:
Taxable	87,306	72,676	58,143
Tax-exempt	21,504	15,399	15,537
Dividends	13,209	9,812	6,206
Interest on other short-term investments	3,236	1,793	1,126
Total interest income	1,159,248	834,154	761,888
Interest on deposits:
Savings, NOW and money market	108,394	55,300	39,787
Time	81,959	42,546	37,775
Interest on short-term borrowings	45,930	18,034	12,022
Interest on long-term borrowings and junior subordinated debentures	65,762	58,227	59,190
Total interest expense	302,045	174,107	148,774
Net Interest Income	857,203	660,047	613,114
Provision for credit losses	32,501	9,942	11,869
Net Interest Income After Provision for Credit Losses	824,702	650,105	601,245
Non-Interest Income
Insurance commissions	15,213	18,156	19,106
(Losses) gains on securities transactions, net	(2,342)	(20)	777
Fees from loan servicing	9,319	7,384	6,441
Gains on sales of loans, net	20,515	20,814	22,030
Bank owned life insurance	8,691	7,338	6,694
Other	43,206	24,967	21,988
Total non-interest income	134,052	111,706	108,260
Non-Interest Expense
Salary and employee benefits expense	333,816	263,337	243,222
Net occupancy and equipment expense	108,763	92,243	87,140
FDIC insurance assessment	28,266	19,821	20,100
Amortization of other intangible assets	18,416	10,016	11,327
Professional and legal fees	34,141	25,834	17,755
Amortization of tax credit investments	24,200	41,747	34,744
Telecommunication expenses	12,102	9,921	10,021
Other	69,357	46,154	51,816
Total non-interest expense	629,061	509,073	476,125
Income Before Income Taxes	329,693	252,738	233,380
Income tax expense	68,265	90,831	65,234
Net Income	261,428	161,907	168,146
Dividends on preferred stock	12,688	9,449	7,188
Net Income Available to Common Shareholders	$ 248,740	$ 152,458	$ 160,958
Earnings Per Common Share:
Basic (in usd per share)	$ 0.75	$ 0.58	$ 0.63
Diluted (in usd per share)	0.75	0.58	0.63
Cash dividends declared per common share (in usd per share)	$ 0.44	$ 0.44	$ 0.44
Weighted Average Number of Common Shares Outstanding:
Basic (in shares)	331,258,964	264,038,123	254,841,571
Diluted (in shares)	332,693,718	264,889,007	255,268,336
Trust and Investment Services
Non-Interest Income
Services	$ 12,633	$ 11,538	$ 10,345
Deposit Account
Non-Interest Income
Services	$ 26,817	$ 21,529	$ 20,879

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 261,428	$ 161,907	$ 168,146
Other comprehensive (loss) income, net of tax:
Net (losses) gains arising during the period	(22,932)	352	(4,293)
Less reclassification adjustment for net losses (gains) included in net income	1,857	11	(465)
Total	(21,075)	363	(4,758)
Non-credit impairment losses on available for sale and held to maturity securities
Net change in non-credit impairment losses on securities	0	498	417
Less reclassification adjustment for accretion of credit impairment losses included in net income	380	(167)	(539)
Total	380	331	(122)
Unrealized gains and losses on derivatives (cash flow hedges)
Net gains (losses) on derivatives arising during the period	1,874	576	(2,461)
Less reclassification adjustment for net losses included in net income	2,494	5,028	7,641
Total	4,368	5,604	5,180
Defined benefit pension plan
Net (losses) gains arising during the period	(7,151)	(2,722)	3,298
Amortization of prior service cost	146	191	(181)
Amortization of net loss	447	248	185
Total	(6,558)	(2,283)	3,302
Total other comprehensive (loss) income	(22,885)	4,015	3,602
Total comprehensive income	$ 238,543	$ 165,922	$ 171,748

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Series A Preferred Stock	Common Stock	Preferred Stock	Preferred StockSeries A Preferred Stock	Common Stock	Common StockCommon Stock	Surplus	SurplusCommon Stock	Retained Earnings	Retained EarningsCommon Stock	Accumulated Other Comprehensive Loss	Treasury Stock	Treasury StockCommon Stock
Beginning balance at Dec. 31, 2015	$ 2,207,091			$ 111,590		$ 88,626		$ 1,927,399		$ 125,171		$ (45,695)	$ 0
Beginning balance (in shares) at Dec. 31, 2015						253,788
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	168,146									168,146
Other comprehensive income (loss), net of tax	3,602											3,602
Stock issued	111,652					$ 3,362		106,265		(20)			2,045
Cash dividends declared on preferred stock	(7,188)									(7,188)
Cash dividends declared on common stock	(113,212)									(113,212)
Effect of stock incentive plan, net (in shares)						57
Effect of stock incentive plan, net	7,065					$ 365		10,737		(143)			(3,894)
Stock issued (in shares)						9,794
Ending balance at Dec. 31, 2016	2,377,156			111,590		$ 92,353		2,044,401		172,754		(42,093)	(1,849)
Ending balance (in shares) at Dec. 31, 2016						263,639
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	161,907									161,907
Reclassification due to the adoption of ASU No. 2018-02	(7,927)									7,927		(7,927)
Other comprehensive income (loss), net of tax	4,015											4,015
Stock issued		$ 98,101	$ 8,207		$ 98,101		$ 145		$ 4,658		$ (56)		3,460
Cash dividends declared on preferred stock	(9,449)									(9,449)
Cash dividends declared on common stock	(116,332)									(116,332)
Effect of stock incentive plan, net (in shares)						117
Effect of stock incentive plan, net	9,560					$ 229		11,297		(18)			(1,948)
Stock issued (in shares)							713
Ending balance at Dec. 31, 2017	2,533,165			209,691		$ 92,727		2,060,356		216,733		(46,005)	(337)
Ending balance (in shares) at Dec. 31, 2017						264,469
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	261,428									261,428
Other comprehensive income (loss), net of tax	(22,885)											(22,885)
Stock issued			738,211				$ 22,742		$ 715,121		0			$ 348
Cash dividends declared on preferred stock	(12,688)									(12,688)
Cash dividends declared on common stock			$ (146,346)								$ (146,346)
Effect of stock incentive plan, net (in shares)						1,955
Effect of stock incentive plan, net	17,180					$ 771		21,022		(2,415)			(2,198)
Stock issued (in shares)							65,007
Ending balance at Dec. 31, 2018	$ 3,350,454			$ 209,691		$ 116,240		$ 2,796,499		$ 299,642		$ (69,431)	$ (2,187)
Ending balance (in shares) at Dec. 31, 2018						331,431

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net income	$ 261,428	$ 161,907	$ 168,146
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	27,554	24,845	24,431
Stock-based compensation	19,472	12,204	10,032
Provision for credit losses	32,501	9,942	11,869
Net amortization of premiums and accretion of discounts on securities and borrowings	38,454	46,346	24,310
Amortization of other intangible assets	18,416	10,016	11,327
Losses (gains) on securities transactions, net	2,342	20	(777)
Proceeds from sales of loans held for sale	687,983	813,855	572,439
Gains on sales of loans, net	(20,515)	(20,814)	(22,030)
Originations of loans held for sale	(406,087)	(444,290)	(425,713)
Losses (gains) on sales of assets, net	2,402	95	(1,358)
Net deferred income tax (benefit) expense	(11,780)	76,848	27,154
Net change in:
Fair value of borrowings hedged by derivative transactions	0	0	6,158
Cash surrender value of bank owned life insurance	(8,691)	(7,338)	(6,694)
Accrued interest receivable	(9,183)	(7,174)	(3,262)
Other assets	(33,145)	(57,353)	47,458
Accrued expenses and other liabilities	(7,562)	121	(24,313)
Net cash provided by operating activities	593,589	619,230	419,177
Cash flows from financing activities:
Net change in deposits	2,734,669	422,754	1,477,157
Net change in short-term borrowings	720,307	(332,332)	3,969
Proceeds from issuance of long-term borrowings, net	0	1,065,000	385,000
Repayments of long-term borrowings	(750,682)	(185,000)	(769,182)
Proceeds from issuance of preferred stock, net	0	98,101	0
Cash dividends paid to preferred shareholders	(15,859)	(6,277)	(7,188)
Cash dividends paid to common shareholders	(138,857)	(115,881)	(111,813)
Purchase of common shares to treasury	(3,801)	(2,645)	(3,191)
Common stock issued, net	2,704	8,207	112,085
Net cash provided by financing activities	2,548,481	951,927	1,086,837
Cash flows from investing activities:
Net loan originations and purchases	(3,257,939)	(1,418,073)	(1,379,431)
Investment securities held to maturity:
Purchases	(264,721)	(220,356)	(669,157)
Maturities, calls and principal repayments	241,077	290,929	325,766
Investment securities available for sale:
Purchases	(289,554)	(411,788)	(679,530)
Sales	44,377	2,727	4,782
Maturities, calls and principal repayments	255,031	204,684	867,998
Death benefit proceeds from bank owned life insurance	4,220	13,089	2,406
Proceeds from sales of real estate property and equipment	7,786	9,357	20,560
Purchases of real estate property and equipment	(26,440)	(18,117)	(20,707)
Cash and cash equivalents acquired in acquisitions	156,612	0	0
Net cash used in investing activities	(3,129,551)	(1,547,548)	(1,527,313)
Net change in cash and cash equivalents	12,519	23,609	(21,299)
Cash and cash equivalents at beginning of year	416,110	392,501	413,800
Cash and cash equivalents at end of year	428,629	416,110	392,501
Supplemental disclosures of cash flow information:
Interest on deposits and borrowings	290,444	170,614	151,209
Federal and state income taxes	53,587	29,013	26,564
Supplemental schedule of non-cash investing activities:
Transfer of loans to other real estate owned	743	7,301	8,089
Loans transferred to loans held for sale	289,633	313,201	174,501
Non-cash assets acquired:
Loans	3,736,984	0	0
Premises and equipment	62,066	0	0
Bank owned life insurance	49,052	0	0
Accrued interest receivable	12,123	0	0
Goodwill	394,028	0	0
Other intangible assets	45,906	0	0
Other assets	100,059	0	0
Total non-cash assets acquired	4,922,820	0	0
Liabilities assumed:
Deposits	3,564,843	0	0
Short-term borrowings	649,979	0	0
Long-term borrowings	87,283	0	0
Junior subordinated debentures issued to capital trusts	13,249	0	0
Accrued expenses and other liabilities	26,848	0	0
Total liabilities assumed	4,342,202	0	0
Net non-cash assets acquired	580,618	0	0
Net cash and cash equivalents acquired in acquisition	156,612	0	0
Common stock issued in acquisition	737,230	0	0
Held-to-maturity securities
Non-cash assets acquired:
Investment securities	214,217	0	0
Available-for-sale securities
Non-cash assets acquired:
Investment securities	$ 308,385	$ 0	$ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Note 1) Business Valley National Bancorp, a New Jersey Corporation (Valley), is a bank holding company whose principal wholly-owned subsidiary is Valley National Bank (the “Bank”), a national banking association providing a full range of commercial, retail and trust and investment services largely through its offices and ATM network throughout northern and central New Jersey, the New York City boroughs of Manhattan, Brooklyn and Queens, Long Island, Florida and Alabama. The Bank is subject to intense competition from other financial services companies and is subject to the regulation of certain federal and state agencies and undergoes periodic examinations by certain regulatory authorities. Valley National Bank’s subsidiaries are all included in the consolidated financial statements of Valley. These subsidiaries include, but are not limited to: • an insurance agency offering property and casualty, life and health insurance; • an asset management adviser that is a registered investment adviser with Securities and Exchange Commission (SEC); • title insurance agencies in New York with services in New Jersey; • subsidiaries which hold, maintain and manage investment assets for the Bank; • a subsidiary which specializes in health care equipment lending and other commercial equipment leases; and • a subsidiary which owns and services New York commercial loans. The Bank’s subsidiaries also include real estate investment trust subsidiaries (the “REIT” subsidiaries) which own real estate related investments and a REIT subsidiary which owns some of the real estate utilized by the Bank and related real estate investments. Except for Valley’s REIT subsidiaries, all subsidiaries mentioned above are directly or indirectly wholly-owned by the Bank. Because each REIT subsidiary must have 100 or more shareholders to qualify as a REIT, each REIT subsidiary has issued less than 20 percent of its outstanding non-voting preferred stock to individuals, most of whom are non-senior management Bank employees. The Bank owns the remaining preferred stock and all the common stock of the REITs. Basis of Presentation The consolidated financial statements of Valley include the accounts of its commercial bank subsidiary, Valley National Bank and all of Valley’s direct or indirect wholly-owned subsidiaries. All inter-company transactions and balances have been eliminated. The accounting and reporting policies of Valley conform to U.S. generally accepted accounting principles (U.S. GAAP) and general practices within the financial services industry. In accordance with applicable accounting standards, Valley does not consolidate statutory trusts established for the sole purpose of issuing trust preferred securities and related trust common securities. See Note 11 for more details. Certain prior period amounts have been reclassified to conform to the current presentation. In preparing the consolidated financial statements in conformity with U.S. GAAP, management has made estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated statements of financial condition and results of operations for the periods indicated. Material estimates that are particularly susceptible to change are: the allowance for loan losses, purchased credit-impaired loans, the evaluation of goodwill and other intangible assets for impairment, and income taxes. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the consolidated financial statements in the period they are deemed necessary. While management uses its best judgment, actual amounts or results could differ significantly from those estimates. The current economic environment has increased the degree of uncertainty inherent in these material estimates. Effective January 1, 2018, Valley acquired USAmeriBancorp, Inc. and its wholly-owned subsidiary, USAmeriBank. See Note 2 for further details regarding this acquisition. Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, interest bearing deposits in other banks (including the Federal Reserve Bank of New York) and, from time to time, overnight federal funds sold. The Bank is required to maintain reserve balances in cash or on deposit with the Federal Reserve Bank based on a percentage of deposits. These reserve balances totaled $120.7 million and $122.0 million at December 31, 2018 and 2017 , respectively. Investment Securities Investment securities are classified at the time of purchase based on management’s intention, as securities held-to-maturity or securities available-for-sale. Investment securities classified as held-to-maturity are those that management has the positive intent and ability to hold until maturity. Investment securities held-to-maturity are carried at amortized cost, adjusted for amortization of premiums and accretion of discounts using the level-yield method over the contractual term of the securities, adjusted for actual prepayments, or to call date if the security was purchased at premium. Investment securities classified as available-for-sale are carried at fair value with unrealized holding gains and losses reported as a component of other comprehensive income or loss, net of tax. Realized gains or losses on the available-for-sale securities are recognized by the specific identification method and are included in net gains on securities transactions. Security transactions are recorded on a trade-date basis. Investments in Federal Home Loan Bank and Federal Reserve Bank stock, which have limited marketability, are carried at cost in other assets. Quarterly, Valley evaluates its investment securities classified as held to maturity and available for sale for other-than-temporary impairment. Valley's evaluation of other-than-temporary impairment considers factors that include, among others, the causes of the decline in fair value, such as credit problems, interest rate fluctuations, or market volatility; and the severity and duration of the decline. For debt securities, the primary consideration in determining whether impairment is other-than-temporary is whether or not it is probable that current and/or future contractual cash flows have been or may be impaired. Valley also assesses the intent and ability to hold the securities (as well as the likelihood of a near-term recovery), and the intent to sell the securities and whether it is more likely than not that we will be required to sell the securities before the recovery of their amortized cost basis. In assessing the level of other-than-temporary impairment attributable to credit loss, Valley compares the present value of cash flows expected to be collected with the amortized cost basis of the security. If a determination is made that a debt security is other-than-temporarily impaired, Valley will estimate the amount of the unrealized loss that is attributable to credit and all other non-credit related factors. The credit related component will be recognized as an other-than-temporary impairment charge in non-interest income. The non-credit related component will be recorded as an adjustment to accumulated other comprehensive income (loss), net of tax. When a debt security becomes other-than-temporarily impaired, its amortized cost basis is reduced to reflect the portion of the total impairment related to credit loss. There was no other-than-temporary impairment recognized in earnings as a result of Valley's impairment analysis of its securities during 2018 , 2017 and 2016 . See the “Other-Than-Temporary Impairment Analysis” section of Note 4 for further discussion. Interest income on investments includes amortization of purchase premiums and discounts. Valley discontinues the recognition of interest on debt securities if the securities meet both of the following criteria: (i) regularly scheduled interest payments have not been paid or have been deferred by the issuer, and (ii) full collection of all contractual principal and interest payments is not deemed to be the most likely outcome, resulting in the recognition of other-than-temporary impairment of the security. Loans Held for Sale Loans held for sale generally consist of residential mortgage loans originated and intended for sale in the secondary market and are carried at their estimated fair value on an instrument-by-instrument basis as permitted by the fair value option election under U.S. GAAP. Changes in fair value are recognized in non-interest income in the accompanying consolidated statements of income as a component of net gains on sales of loans. Origination fees and costs related to loans originated for sale (and carried at fair value) are recognized as earned and as incurred. Loans held for sale are generally sold with loan servicing rights retained by Valley. Gains recognized on loan sales include the value assigned to the rights to service the loan. See “Loan Servicing Rights” section below. Loans and Loan Fees Loans are reported at their outstanding principal balance net of any unearned income, charge-offs, unamortized deferred fees and costs on originated loans and premium or discounts on purchased loans, except for purchased credit-impaired loans. Loan origination and commitment fees, net of related costs are deferred and amortized as an adjustment of loan yield over the estimated life of the loans approximating the effective interest method. Loans are deemed to be past due when the contractually required principal and interest payments have not been received as they become due. Loans are placed on non-accrual status generally, when they become 90 days past due and the full and timely collection of principal and interest becomes uncertain. When a loan is placed on non-accrual status, interest accruals cease and uncollected accrued interest is reversed and charged against current income. Payments received on non-accrual loans are generally applied against principal. A loan in which the borrowers’ obligation has not been released in bankruptcy courts may be restored to an accruing basis when it becomes well secured and is in the process of collection, or all past due amounts become current under the loan agreement and collectability is no longer doubtful. Purchased Credit-Impaired Loans Purchased credit-impaired (PCI) loans are loans acquired at a discount (that is due, in part, to credit quality). Valley's PCI loan portfolio primarily consists of loans acquired in business combinations subsequent to 2011 and $27.6 million of mainly residential mortgage loans subject to loss sharing agreements (referred to as "covered loans") with the FDIC. The PCI loans are initially recorded at fair value (as determined by the present value of expected future cash flows) with no allowance for loan losses. Interest income on PCI loans has been accounted for based on the acquired loans’ expected cash flows. The PCI loans may be aggregated and accounted for as a pool of loans if the loans being aggregated have common risk characteristics. A pool is accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flow. The difference between the undiscounted cash flows expected at acquisition and the investment in the loans, or the “accretable yield,” is recognized as interest income utilizing the level-yield method over the life of each pool. Contractually required payments for interest and principal that exceed the undiscounted cash flows expected at acquisition, or the “nonaccretable difference,” are not recognized as a yield adjustment or as a loss accrual or an allowance for loan losses. Increases in expected cash flows subsequent to the acquisition are recognized prospectively through adjustment of the yield on the pool over its remaining life, while decreases in expected cash flows are recognized as impairment through a loss provision and an increase in the allowance for loan losses. Therefore, the allowance for loan losses on these impaired pools reflect only losses incurred after the acquisition (representing the present value of all cash flows that were expected at acquisition but currently are not expected to be received). Valley had no allowance reserves related to PCI loans at December 31, 2018 and 2017 . On a quarterly basis, the Bank periodically evaluates the remaining contractual required payments due and estimates of cash flows expected to be collected for the underlying loans of each PCI loan pool. These evaluations require the continued use of key assumptions and estimates, similar to the initial estimate of fair value. Changes in the contractual required payments due and estimated cash flows expected to be collected may result in changes in the accretable yield and non-accretable difference or reclassifications between accretable yield and the non-accretable difference. For the pools with better than expected cash flows, the forecasted increase is recorded as an additional accretable yield that is recognized as a prospective increase to our interest income on loans and the FDIC loss-share receivable, if applicable, is prospectively reduced by the guaranteed portion of the additional cash flows expected to be received, with a corresponding reduction to non-interest income. See Note 5 for additional information. PCI loans that may have been classified as non-performing loans by an acquired bank are no longer classified as non-performing because these loans are accounted for on a pooled basis. Management’s judgment is required in classifying loans in pools as performing loans, and is dependent on having a reasonable expectation about the timing and amount of the pool cash flows to be collected, even if certain loans within the pool are contractually past due. Allowance for Credit Losses The allowance for credit losses (the “allowance”) is increased through provisions charged against current earnings and additionally by crediting amounts of recoveries received, if any, on previously charged-off loans. The allowance is reduced by charge-offs on loans or unfunded letters of credit which are determined to be a loss, in accordance with established policies, when all efforts of collection have been exhausted. The allowance is maintained at a level estimated to absorb probable credit losses inherent in the loan portfolio as well as other credit risk related charge-offs. The allowance is based on ongoing evaluations of the probable estimated losses inherent in the non-PCI loan portfolio and off-balance sheet unfunded letters of credit, as well as reserves for impairment of PCI loans subsequent to their acquisition date. As discussed under the “Purchased Credit-Impaired Loans” section above, Valley had no allowance reserves related to PCI loans at December 31, 2018 and 2017 . The Bank’s methodology for evaluating the appropriateness of the allowance includes grouping the non-covered loan portfolio into loan segments based on common risk characteristics, tracking the historical levels of classified loans and delinquencies, estimating the appropriate loss look-back and loss emergence periods related to historical losses for each loan segment, providing specific reserves on impaired loans, and assigning incremental reserves where necessary based upon qualitative and economic outlook factors including numerous variables, such as the nature and trends of recent loan charge-offs. Additionally, the volume of non-performing loans, concentration risks by size, type, and geography, new markets, collateral adequacy, credit policies and procedures, staffing, underwriting consistency, loan review and economic conditions are taken into consideration. The allowance for loan losses consists of four elements: (i) specific reserves for individually impaired credits, (ii) reserves for adversely classified, or higher risk rated, loans that are not impaired, (iii) reserves for other loans based on historical loss factors (using the appropriate loss look-back and loss emergence periods) adjusted for both internal and external qualitative risk factors to Valley, including the aforementioned factors, as well as changes in both organic and purchased loan portfolio volumes, the composition and concentrations of credit, new market initiatives, and the impact of competition on loan structuring and pricing, and (iv) an allowance for PCI loan pools impaired subsequent to the acquisition date, if applicable. The Credit Risk Management Department individually evaluates non-accrual (non-homogeneous) commercial and industrial loans and commercial real estate loans over $250 thousand and all troubled debt restructured loans. The value of an impaired loan is measured based upon the underlying anticipated method of payment consisting of either the present value of expected future cash flows discounted at the loan’s effective interest rate, or the fair value of the collateral, if the loan is collateral dependent, and its payment is expected solely based on the underlying collateral. If the value of an impaired loan is less than its carrying amount, impairment is recognized through a provision to the allowance for loan losses. Collateral dependent impaired loan balances are written down to the estimated current fair value (less estimated selling costs) of each loan’s underlying collateral resulting in an immediate charge-off to the allowance, excluding any consideration for personal guarantees that may be pursued in the Bank’s collection process. If repayment is based upon future expected cash flows, the present value of the expected future cash flows discounted at the loan’s original effective interest rate is compared to the carrying value of the loan, and any shortfall is recorded as a specific valuation allowance in the allowance for loan losses. Accrual of interest is discontinued on an impaired loan when management believes, after considering collection efforts and other factors, the borrower’s financial condition is such that collection of all principal and interest is doubtful. Cash collections from non-accrual loans are generally credited to the loan balance, and no interest income is recognized on these loans until the principal balance has been determined to be fully collectible. Residential mortgage loans and consumer loans usually consist of smaller balance homogeneous loans that are collectively evaluated for impairment, and are specifically excluded from the impaired loan portfolio, except where the loan is classified as a troubled debt restructured loan. The allowances established for probable losses on specific loans are based on a regular analysis and evaluation of the loans. Loans are evaluated based on an internal credit risk rating system for the commercial and industrial loan and commercial real estate loan portfolio segments and non-performing loan status for the residential and consumer loan portfolio segments. Loans are risk-rated based on an internal credit risk grading process that evaluates, among other things: (i) the obligor’s ability to repay; (ii) the underlying collateral, if any; and (iii) the economic environment and industry in which the borrower operates. This analysis is performed at the relationship manager level for all commercial and industrial loans and commercial real estate loans, and evaluated by the Loan Review Department on a test basis. Loans with a grade that is below “Pass” grade are adversely classified. See Note 5 for details. Any change in the credit risk grade of adversely classified performing and/or non-performing loans affects the amount of the related allowance. Once a loan is adversely classified, the assigned relationship manager and/or a special assets officer in conjunction with the Credit Risk Management Department analyzes the loan to determine whether the loan is impaired and, if impaired, the need to specifically assign a valuation allowance for loan losses to the loan. Specific valuation allowances are determined by analyzing the borrower’s ability to repay amounts owed, collateral deficiencies, the relative risk grade of the loan and economic conditions affecting the borrower’s industry, among other things. Loans identified as losses by management are charged-off. Commercial loans are generally assessed for full or partial charge-off to the net realizable value for collateral dependent loans when a loan is between 90 or 120 days past due or sooner if it is probable that a loan may not be fully collectable. Residential loans and home equity loans are generally charged-off to net realizable value when the loan is 120 days past due (or sooner when the borrowers’ obligation has been released in bankruptcy). Automobile loans are fully charged-off when the loan is 120 days past due or partially charged-off to the net realizable value of collateral, if the collateral is recovered prior to such time. Unsecured consumer loans are generally fully charged-off when the loan is 150 days past due. The allowance allocations for other loans (i.e., risk rated loans that are not adversely classified and loans that are not risk rated) are calculated by applying historical loss factors for each loan portfolio segment to the applicable outstanding loan portfolio balances. Loss factors are calculated using statistical analysis supplemented by management judgment. The statistical analysis considers historical default rates, historical loss severity in the event of default, and the average loss emergence period for each loan portfolio segment. The management analysis includes an evaluation of loan portfolio volumes, the composition and concentrations of credit, credit quality and current delinquency trends. See Notes 5 and 6 for Valley’s loan credit quality and additional allowance disclosures. Premises and Equipment, Net Premises and equipment are stated at cost less accumulated depreciation computed using the straight-line method over the estimated useful lives of the related assets. Estimated useful lives range from 3 years for capitalized software to up to 40 years for buildings. Leasehold improvements are amortized over the term of the lease or estimated useful life of the asset, whichever is shorter. Major improvements are capitalized, while repairs and maintenance costs are charged to operations as incurred. Upon retirement or disposition, any gain or loss is credited or charged to operations. See Note 7 for further details. Bank Owned Life Insurance Valley owns bank owned life insurance (BOLI) to help offset the cost of employee benefits. BOLI is recorded at its cash surrender value. Valley’s BOLI is invested primarily in U.S. Treasury securities and residential mortgage-backed securities issued by government sponsored enterprises and Ginnie Mae. The majority of the underlying investment portfolio is managed by one independent investment firm. The change in the cash surrender value is included as a component of non-interest income and is exempt from federal and state income taxes as long as the policies are held until the death of the insured individuals. Other Real Estate Owned Valley acquires other real estate owned (OREO) through foreclosure on loans secured by real estate. OREO is reported at the lower of cost or fair value, as established by a current appraisal (less estimated costs to sell), and is included in other assets. Any write-downs at the date of foreclosure are charged to the allowance for loan losses. Expenses incurred to maintain these properties, unrealized losses resulting from valuation write-downs after the date of foreclosure, and realized gains and losses upon sale of the properties are included in other non-interest expense. OREO totaled $9.5 million and $9.8 million at December 31, 2018 and 2017 , respectively. OREO included foreclosed residential real estate properties totaling $852 thousand and $7.3 million at December 31, 2018 and 2017 , respectively. Residential mortgage and consumer loans secured by residential real estate properties for which formal foreclosure proceedings are in process totaled $1.8 million and $3.8 million at December 31, 2018 and 2017 , respectively. Goodwill Intangible assets resulting from acquisitions under the acquisition method of accounting consist of goodwill and other intangible assets (see “Other Intangible Assets” below). Goodwill is not amortized and is subject to an annual assessment for impairment. Currently, the goodwill impairment analysis is generally a two-step test. However, Valley may choose to perform an optional qualitative assessment to determine whether it is necessary to perform the two-step quantitative goodwill impairment test for one or more units in future periods. During 2018 and 2017 , Valley elected to perform step one of the two-step goodwill impairment test for all of its reporting units. Goodwill is allocated to Valley’s reporting unit, which is a business segment or one level below, at the date goodwill is actually recorded. If the carrying value of a reporting unit exceeds its estimated fair value, a second step in the analysis is performed to determine the amount of impairment, if any. The second step compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. If the carrying value of a reporting unit exceeds the implied fair value of the goodwill, an impairment charge is recorded equal to the excess amount in the current period earnings. Valley reviews goodwill annually or more frequently if a triggering event indicates impairment may have occurred, to determine potential impairment by determining if the fair value of the reporting unit has fallen below the carrying value. Other Intangible Assets Other intangible assets primarily consist of loan servicing rights (largely generated from loan servicing retained by the Bank on residential mortgage loan originations sold in the secondary market to government sponsored enterprises), core deposits (the portion of an acquisition purchase price which represents value assigned to the existing deposit base) and customer lists obtained through acquisitions. Other intangible assets are amortized using various methods over their estimated lives and are periodically evaluated for impairment whenever events or changes in circumstances indicate the carrying amount of the assets may not be recoverable from future undiscounted cash flows. If impairment is deemed to exist, an adjustment is recorded to earnings in the current period for the difference between the fair value of the asset and its carrying amount. See further details regarding loan servicing rights below. Loan Servicing Rights Loan servicing rights are recorded when originated mortgage loans are sold with servicing rights retained, or when servicing rights are purchased. Valley initially records the loan servicing rights at fair value. Subsequently, the loan servicing rights are carried at the lower of unamortized cost or market (i.e., fair value). The fair values of the loan servicing rights are determined using a method which utilizes servicing income, discount rates, prepayment speeds and default rates specifically relative to Valley’s portfolio for originated mortgage servicing rights. The unamortized costs associated with acquiring loan servicing rights, net of any valuation allowances, are included in other intangible assets in the consolidated statements of financial condition and are accounted for using the amortization method. Under this method, Valley amortizes the loan servicing assets in proportion to and over the period of estimated net servicing revenues. On a quarterly basis, Valley stratifies its loan servicing assets into groupings based on risk characteristics and assesses each group for impairment based on fair value. A valuation allowance is established through an impairment charge to earnings to the extent the unamortized cost of a stratified group of loan servicing rights exceeds its estimated fair value. Increases in the fair value of impaired loan servicing rights are recognized as a reduction of the valuation allowance, but not in excess of such allowance. The amortization of loan servicing rights is recorded in non-interest income. Stock-Based Compensation Compensation expense for stock options and restricted stock awards (i.e., non-vested stock awards) is based on the fair value of the award on the date of the grant and is recognized ratably over the service period of the award. Under Valley’s long-term incentive compensation plans, award grantees that are eligible for retirement do not have a service period requirement. Compensation expense for these awards is recognized immediately in earnings. The service period for non-retirement eligible employees is the shorter of the stated vesting period of the award or the period until the employee’s retirement eligibility date. The fair value of each option granted is estimated using a binomial option pricing model. The fair value of restricted stock awards is based upon the last sale price reported for Valley’s common stock on the date of grant or the last sale price reported preceding such date, except for performance-based restricted stock and restricted stock unit awards with a market condition. The grant date fair value of a performance-based restricted stock or restricted stock unit award that vests based on a market condition is determined by a third party specialist using a Monte Carlo valuation model. See Note 12 for additional information. Fair Value Measurements In general, fair values of financial instruments are based upon quoted market prices, where available. When observable market prices and parameters are not fully available, management uses valuation techniques based upon internal and third party models requiring more management judgment to estimate the appropriate fair value measurements. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value, including adjustments based on internal cash flow model projections that utilize assumptions similar to those incorporated by market participants. Other adjustments may include amounts to reflect counterparty credit quality and Valley’s creditworthiness, among other things, as well as unobservable parameters. Any such valuation adjustments are applied consistently over time. See Note 3 for additional information. Revenue Recognition On January 1, 2018, Valley adopted Accounting Standards Update 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 Accounting Standards Codification (ASC) Topic 606. 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 revenues, reported separately within total non-interest income on the consolidated statements of income, are within the scope of ASC Topic 606: Trust and investment 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 depo

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2018
Business Combinations [Abstract]
Business Combinations	BUSINESS COMBINATIONS (Note 2) USAmeriBancorp, Inc. On January 1, 2018, Valley completed its acquisition of USAmeriBancorp, Inc. (USAB) headquartered in Clearwater, Florida. USAB, largely through its wholly-owned subsidiary, USAmeriBank, had approximately $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 at December 31, 2018 . The acquisition represents a significant addition to Valley’s Florida presence, primarily in the Tampa Bay market. The acquisition also brought Valley to the Birmingham, Montgomery, and Tallapoosa areas in Alabama, where USAB maintained 15 of its branches. The common shareholders of USAB received 6.1 shares of Valley common stock for each USAB share they own. The total consideration for the acquisition was approximately $737 million , consisting of 64.9 million shares of Valley common stock and the outstanding USAB stock-based awards. Merger expenses totaled $17.4 million for the year ended December 31, 2018 , which primarily related to salary and employee benefits and other expenses are 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 3,736,984 Premises and equipment 62,066 Bank owned life insurance 49,052 Accrued interest receivable 12,123 Goodwill 394,028 Other intangible assets 45,906 Other assets: Deferred taxes 10,623 Other real estate owned 4,073 FHLB and FRB stock 38,809 Tax credit investments 20,138 Other 26,416 Total other assets 100,059 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. Valley revised the estimated fair values of the acquired assets as of the acquisition date due to additional acquisition date information obtained during the second half of 2018. 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 $5.8 million net increase in goodwill (see Note 8 for amount of goodwill as allocated to Valley's business segments). 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 ASC Subtopic 310-30, “Loans and Debt Securities Acquired with Deteriorated Credit Quality.” See Note 5 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. See Note 10 for further details. 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. See Note 11 for further details.

Fair Value Measurement of Asset

Fair Value Measurement of Assets and Liabilities	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurement of Assets and Liabilities	FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Note 3) Accounting Standards Codification (ASC) Topic 820, “Fair Value Measurements and Disclosures,” establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below: Level 1 Unadjusted exchange quoted prices in active markets for identical assets or liabilities, or identical liabilities traded as assets that the reporting entity has the ability to access at the measurement date. Level 2 Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly (i.e., quoted prices on similar assets), for substantially the full term of the asset or liability. Level 3 Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). Assets and Liabilities Measured at Fair Value on a Recurring Basis and Non-Recurring Basis The following tables present the assets and liabilities that are measured at fair value on a recurring and non-recurring basis by level within the fair value hierarchy as reported on the consolidated statements of financial condition at December 31, 2018 and 2017 . The assets presented under “non-recurring fair value measurements” in the table below are not measured at fair value on an ongoing basis but are subject to fair value adjustments under certain circumstances (e.g., when an impairment loss is recognized). Fair Value Measurements at Reporting Date Using: December 31, Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in thousands) Recurring fair value measurements: Assets Investment securities: Available for sale: U.S. Treasury securities $ 49,306 $ 49,306 $ — $ — U.S. government agency securities 36,277 — 36,277 — Obligations of states and political subdivisions 197,092 — 197,092 — Residential mortgage-backed securities 1,429,782 — 1,429,782 — Corporate and other debt securities 37,087 — 37,087 — Total available for sale 1,749,544 49,306 1,700,238 — Loans held for sale (1) 35,155 — 35,155 — Other assets (2) 48,979 — 48,979 — Total assets $ 1,833,678 $ 49,306 $ 1,784,372 $ — Liabilities Other liabilities (2) $ 23,681 $ — $ 23,681 $ — Total liabilities $ 23,681 $ — $ 23,681 $ — Non-recurring fair value measurements: Collateral dependent impaired loans (3) $ 45,245 $ — $ — $ 45,245 Loan servicing rights 273 — — 273 Foreclosed assets 5,673 — — 5,673 Total $ 51,191 $ — $ — $ 51,191 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 held for sale that are carried at fair value and had contractual unpaid principal balances totaling approximately $34.6 million and $14.8 million at December 31, 2018 and 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 of the valuation techniques described below apply to the unpaid principal balance excluding any accrued interest or dividends at the measurement date. Interest income and expense are recorded within the consolidated statements of income depending on the nature of the instrument using the effective interest method based on acquired discount or premium. Available for sale securities. All U.S. Treasury securities, certain corporate and other debt securities, and certain 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. In addition, Valley reviews the volume and level of activity for all available for sale securities and attempts to identify transactions which may not be orderly or reflective of a significant level of activity and volume. For certain private mortgage-backed securities reported at December 31, 2017, Valley prepared present value cash flow models derived from unobservable market information (Level 3 inputs). During the fourth quarter of 2018, Valley sold all of the its Level 3 available for sale securities, including 4 private label mortgage-backed securities. Loans held for sale. 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. 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. Non-performance risk did not materially impact the fair value of mortgage loans held for sale at December 31, 2018 and 2017 based on the short duration these assets were held and the credit quality of these loans. Derivatives. Derivatives are reported at fair value utilizing Level 2 inputs. The fair value of Valley’s derivatives are determined using third party prices that are based on discounted cash flow analyses using observed market inputs, such as the LIBOR and Overnight Index Swap rate curves. The fair value of mortgage banking derivatives, consisting of interest rate lock commitments to fund residential mortgage loans and forward commitments for the future delivery of such loans (including certain loans held for sale at December 31, 2018 and 2017 ), is determined based on the current market prices for similar instruments. The fair values of most of the derivatives incorporate credit valuation adjustments, which consider the impact of any credit enhancements to the contracts, to account for potential nonperformance risk of Valley and its counterparties. The credit valuation adjustments were not significant to the overall valuation of Valley’s derivatives at December 31, 2018 and 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 non-recurring basis, including impaired loans reported at the fair value of the underlying collateral, loan servicing rights and foreclosed assets, which are reported at fair value upon initial recognition or subsequent impairment as described below. Impaired loans. Certain impaired loans are reported at the fair value of the underlying collateral if repayment is expected solely from the collateral and are commonly referred to as “collateral dependent impaired loans.” Collateral values are estimated using Level 3 inputs, consisting of individual appraisals that are significantly adjusted based on customized discounting criteria. At December 31, 2018 , certain appraisals may be discounted based on specific market data by location and property type. During 2018 and 2017 , collateral dependent impaired loans were individually re-measured and reported at fair value through direct loan charge-offs to the allowance for loan losses and/or a specific valuation allowance allocation based on the fair value of the underlying collateral. The collateral dependent loan charge-offs to the allowance for loan losses totaled $638 thousand and $2.1 million for the years ended December 31, 2018 and 2017 , respectively. These collateral dependent impaired loans with a total recorded investment of $73.7 million and $57.5 million at December 31, 2018 and 2017 , respectively, were reduced by specific valuation allowance allocations totaling $28.5 million and $9.1 million to a reported total net carrying amount of $45.2 million and $48.4 million at December 31, 2018 and 2017 , respectively. Loan servicing rights. Fair values for each risk-stratified group of loan servicing rights are calculated using a fair value model from a third party vendor that requires inputs that are both significant to the fair value measurement and unobservable (Level 3). The fair value model is based on various assumptions, including but not limited to, prepayment speeds, internal rate of return (“discount rate”), servicing cost, ancillary income, float rate, tax rate, and inflation. The prepayment speed and the discount rate are considered two of the most significant inputs in the model. At December 31, 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 impairment charges on its loan servicing rights totaling $388 thousand and $429 thousand the years ended December 31, 2018 and 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 customized discounting criteria, similar to the criteria used for impaired loans described above. There were no adjustments to the appraisals of foreclosed assets at December 31, 2018 . During the years ended December 31, 2018 and 2017 , foreclosed assets measured at fair value upon initial recognition or subsequent re-measurement totaled $5.7 million and $3.5 million , respectively. The charge-offs of foreclosed assets to the allowance for loan losses totaled $2.0 million and $1.9 million for the years ended December 31, 2018 and 2017 , respectively. The re-measurement of foreclosed assets at fair value subsequent to their initial recognition resulted in losses of $390 thousand , $361 thousand and $1.0 million included in non-interest expense for the years ended December 31, 2018 , 2017 and 2016 , respectively. Other Fair Value Disclosures ASC Topic 825, “Financial Instruments,” requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. The fair value estimates presented in the following table were based on pertinent market data and relevant information on the financial instruments available as of the valuation date. These estimates do not reflect any premium or discount that could result from offering for sale at one time the entire portfolio of financial instruments. Because no market exists for a portion of the financial instruments, fair value estimates may be based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. For instance, Valley has certain fee-generating business lines (e.g., its mortgage servicing operation, trust and investment management departments) that were not considered in these estimates since these activities are not financial instruments. In addition, the tax implications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in any of the estimates. The carrying amounts and estimated fair values of financial instruments not measured and not reported at fair value on the consolidated statements of financial condition at December 31, 2018 and 2017 were as follows: December 31, 2018 2017 Fair Value Hierarchy Carrying Amount Fair Value Carrying Amount Fair Value (in thousands) Financial assets Cash and due from banks Level 1 $ 251,541 $ 251,541 $ 234,310 $ 234,310 Interest bearing deposits with banks Level 1 177,088 177,088 172,800 172,800 Investment securities held to maturity: U.S. Treasury securities Level 1 138,517 142,049 138,676 145,257 U.S. government agency securities Level 2 8,721 8,641 9,859 9,981 Obligations of states and political subdivisions Level 2 585,656 586,033 465,878 477,479 Residential mortgage-backed securities Level 2 1,266,770 1,235,605 1,131,945 1,118,044 Trust preferred securities Level 2 37,332 31,486 49,824 40,088 Corporate and other debt securities Level 2 31,250 31,129 46,509 46,771 Total investment securities held to maturity 2,068,246 2,034,943 1,842,691 1,837,620 Net loans Level 3 24,883,610 24,068,755 18,210,724 17,562,153 Accrued interest receivable Level 1 95,296 95,296 73,990 73,990 Federal Reserve Bank and Federal Home Loan Bank stock (1) Level 1 232,080 232,080 178,668 178,668 Financial liabilities Deposits without stated maturities Level 1 17,388,990 17,388,990 14,589,941 14,589,941 Deposits with stated maturities Level 2 7,063,984 7,005,573 3,563,521 3,465,373 Short-term borrowings Level 1 2,118,914 2,091,892 748,628 679,316 Long-term borrowings Level 2 1,654,268 1,751,194 2,315,819 2,453,797 Junior subordinated debentures issued to capital trusts Level 2 55,370 55,692 41,774 37,289 Accrued interest payable (2) Level 1 25,762 25,762 14,161 14,161 (1) Included in other assets. (2) Included in accrued expenses and other liabilities.

Investment Securities

Investment Securities	12 Months Ended
	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Investment Securities	INVESTMENT SECURITIES (Note 4) Held to Maturity The amortized cost, gross unrealized gains and losses and fair value of investment securities held to maturity at December 31, 2018 and 2017 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) December 31, 2018 U.S. Treasury securities $ 138,517 $ 3,532 $ — $ 142,049 U.S. government agency securities 8,721 55 (135 ) 8,641 Obligations of states and political subdivisions: Obligations of states and state agencies 341,702 4,332 (5,735 ) 340,299 Municipal bonds 243,954 3,141 (1,361 ) 245,734 Total obligations of states and political subdivisions 585,656 7,473 (7,096 ) 586,033 Residential mortgage-backed securities 1,266,770 3,203 (34,368 ) 1,235,605 Trust preferred securities 37,332 77 (5,923 ) 31,486 Corporate and other debt securities 31,250 96 (217 ) 31,129 Total investment securities held to maturity $ 2,068,246 $ 14,436 $ (47,739 ) $ 2,034,943 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 December 31, 2018 and 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) December 31, 2018 U.S. government agency securities $ — $ — $ 6,074 $ (135 ) $ 6,074 $ (135 ) Obligations of states and political subdivisions: Obligations of states and state agencies 16,098 (266 ) 138,437 (5,469 ) 154,535 (5,735 ) Municipal bonds 3,335 (37 ) 60,078 (1,324 ) 63,413 (1,361 ) Total obligations of states and political subdivisions 19,433 (303 ) 198,515 (6,793 ) 217,948 (7,096 ) Residential mortgage-backed securities 72,240 (852 ) 846,671 (33,516 ) 918,911 (34,368 ) Trust preferred securities — — 30,055 (5,923 ) 30,055 (5,923 ) Corporate and other debt securities 9,948 (52 ) 4,835 (165 ) 14,783 (217 ) Total $ 101,621 $ (1,207 ) $ 1,086,150 $ (46,532 ) $ 1,187,771 $ (47,739 ) 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 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 held to maturity portfolio in an unrealized loss position at December 31, 2018 was 378 as compared to 152 at December 31, 2017 . The unrealized losses existing for more than twelve months within the residential mortgage-backed securities category of the held to maturity portfolio at December 31, 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 December 31, 2018 primarily related to four non-rated single-issuer securities, issued by bank holding companies. All single-issuer trust preferred securities classified as held to maturity are paying in accordance with their terms, have no deferrals of interest or defaults and, if applicable, the issuers meet the regulatory capital requirements to be considered “well-capitalized institutions” at December 31, 2018 . As of December 31, 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 $1.3 billion . The contractual maturities of investments in debt securities held to maturity at December 31, 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. December 31, 2018 Amortized Cost Fair Value (in thousands) Due in one year $ 21,418 $ 21,459 Due after one year through five years 274,389 278,051 Due after five years through ten years 260,835 267,813 Due after ten years 244,834 232,015 Residential mortgage-backed securities 1,266,770 1,235,605 Total investment securities held to maturity $ 2,068,246 $ 2,034,943 Actual maturities of debt securities may differ from those presented above since certain obligations provide the issuer the right to call or prepay the obligation prior to scheduled maturity without penalty. The weighted-average remaining expected life for residential mortgage-backed securities held to maturity was 7.7 years at December 31, 2018 . Available for Sale The amortized cost, gross unrealized gains and losses and fair value of investment securities available for sale at December 31, 2018 and 2017 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) December 31, 2018 U.S. Treasury securities $ 50,975 $ — $ (1,669 ) $ 49,306 U.S. government agency securities 36,844 71 (638 ) 36,277 Obligations of states and political subdivisions: Obligations of states and state agencies 100,777 18 (3,682 ) 97,113 Municipal bonds 101,207 209 (1,437 ) 99,979 Total obligations of states and political subdivisions 201,984 227 (5,119 ) 197,092 Residential mortgage-backed securities 1,469,059 1,484 (40,761 ) 1,429,782 Corporate and other debt securities 37,542 213 (668 ) 37,087 Total investment securities available for sale $ 1,796,404 $ 1,995 $ (48,855 ) $ 1,749,544 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 December 31, 2018 and 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) December 31, 2018 U.S. Treasury securities $ — $ — $ 49,306 $ (1,669 ) $ 49,306 $ (1,669 ) U.S. government agency securities 2,120 (20 ) 26,775 (618 ) 28,895 (638 ) Obligations of states and political subdivisions: Obligations of states and state agencies 17,560 (95 ) 75,718 (3,587 ) 93,278 (3,682 ) Municipal bonds 5,018 (106 ) 70,286 (1,331 ) 75,304 (1,437 ) Total obligations of states and political subdivisions 22,578 (201 ) 146,004 (4,918 ) 168,582 (5,119 ) Residential mortgage-backed securities 119,645 (668 ) 1,221,942 (40,093 ) 1,341,587 (40,761 ) Corporate and other debt securities 12,339 (161 ) 12,397 (507 ) 24,736 (668 ) Total $ 156,682 $ (1,050 ) $ 1,456,424 $ (47,805 ) $ 1,613,106 $ (48,855 ) 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 December 31, 2018 was 545 as compared to 327 at December 31, 2017 . The unrealized losses more than twelve months for the residential mortgage-backed securities category of the available for sale portfolio at December 31, 2018 largely related to several investment grade securities mainly issued by Ginnie Mae, Fannie Mae, and Freddie Mac. As of December 31, 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 investments securities available for sale at December 31, 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. December 31, 2018 Amortized Cost Fair Value (in thousands) Due in one year $ 4,666 $ 4,643 Due after one year through five years 125,825 123,051 Due after five years through ten years 78,305 76,640 Due after ten years 118,549 115,428 Residential mortgage-backed securities 1,469,059 1,429,782 Total investment securities available for sale $ 1,796,404 $ 1,749,544 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 7.8 years at December 31, 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 trust preferred securities and corporate bonds (including 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. For the single-issuer trust preferred securities and corporate and other debt securities, Valley reviews each portfolio to determine if all the securities are paying in accordance with their terms and have no deferrals of interest or defaults. A deferral event by a bank holding company for which Valley holds trust preferred securities may require the recognition of an other-than-temporary impairment charge if Valley determines that it is more likely than not that all contractual interest and principal cash flows may not be collected. Among other factors, the probability of the collection of all interest and principal determined by Valley in its impairment analysis declines if there is an increase in the estimated deferral period of the issuer. Additionally, a FDIC receivership for any single-issuer would result in an impairment and significant loss. Including the other factors outlined above, Valley analyzes the performance of the issuers on a quarterly basis, including a review of performance data from the issuers’ most recent bank regulatory report, if applicable, to assess their credit risk and the probability of impairment of the contractual cash flows of the applicable security. All of the issuers had capital ratios at December 31, 2018 that were at or above the minimum amounts to be considered a “well-capitalized” financial institution, if applicable, and/or have maintained performance levels adequate to support the contractual cash flows of the trust preferred securities. At December 31, 2018 , approximately 40.6 percent of the $782.7 million carrying value of obligations of states and political subdivisions were issued by the states of (or municipalities within) New Jersey, Utah, Texas, and Maryland. The obligations of states and political subdivisions mainly consist of general obligation bonds and, to lesser extent, special revenue bonds which had an aggregated amortized cost and fair value of $198.8 million and $193.1 million , respectively, at December 31, 2018 . Special revenue bonds were largely issued by the Utah and Minnesota and other state housing authorities, as well Port Authority of New York and New Jersey. As part of Valley’s pre-purchase analysis and on-going quarterly assessment of impairment of the obligations of states and political subdivisions, our Credit Risk Management Department conducts a financial analysis and risk rating assessment of each security issuer based on the issuer’s most recently issued financial statements and other publicly available information. Substantially all of these investments are investment grade. As of December 31, 2018 , these securities are expected to perform in accordance with their contractual terms and, as a result, Valley expects to recover the entire amortized cost basis of these securities. There were no other-than-temporary impairment losses on securities recognized in earnings for the years ended December 31, 2018 and 2017. Management does not believe that any individual unrealized loss as of December 31, 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. Realized Gains and Losses Gross gains and losses realized on sales, maturities and other securities transactions included in earnings for the years ended December 31, 2018 , 2017 and 2016 were as follows: 2018 2017 2016 (in thousands) Sales transactions: Gross gains $ 1,769 $ — $ 271 Gross losses (3,881 ) (25 ) (58 ) $ (2,112 ) $ (25 ) $ 213 Maturities and other securities transactions: Gross gains $ 42 $ 43 $ 615 Gross losses (272 ) (38 ) (51 ) $ (230 ) $ 5 $ 564 (Losses) gains on securities transactions, net $ (2,342 ) $ (20 ) $ 777 Net losses on sales transactions in 2018 (as presented in the table above) primarily related to the sales of equity securities previously classified as available for sale, certain municipal securities acquired from USAB and all of Valley's private label mortgage-backed securities classified as available for sale, including securities that were previously impaired.

Loans

Loans	12 Months Ended
	Dec. 31, 2018
Receivables [Abstract]
Loans	LOANS (Note 5) The detail of the loan portfolio as of December 31, 2018 and 2017 was as follows: December 31, 2018 December 31, 2017 Non-PCI Loans PCI Loans* Total Non-PCI Loans PCI Loans* Total (in thousands) Loans: Commercial and industrial $ 3,590,375 $ 740,657 $ 4,331,032 $ 2,549,065 $ 192,360 $ 2,741,425 Commercial real estate: Commercial real estate 9,912,309 2,494,966 12,407,275 8,561,851 934,926 9,496,777 Construction 1,122,348 365,784 1,488,132 809,964 41,141 851,105 Total commercial real estate loans 11,034,657 2,860,750 13,895,407 9,371,815 976,067 10,347,882 Residential mortgage 3,682,984 428,416 4,111,400 2,717,744 141,291 2,859,035 Consumer: Home equity 371,340 145,749 517,089 373,631 72,649 446,280 Automobile 1,319,206 365 1,319,571 1,208,804 98 1,208,902 Other consumer 846,821 14,149 860,970 723,306 4,750 728,056 Total consumer loans 2,537,367 160,263 2,697,630 2,305,741 77,497 2,383,238 Total loans $ 20,845,383 $ 4,190,086 $ 25,035,469 $ 16,944,365 $ 1,387,215 $ 18,331,580 * PCI loans include covered loans (mostly consisting of residential mortgage loans) totaling $27.6 million and $38.7 million at December 31, 2018 and 2017 , respectively. Total loans (excluding PCI covered loans) include net of unearned premiums and deferred loan costs totaling $21.5 million and $22.2 million at December 31, 2018 and 2017 , respectively. The outstanding balances (representing contractual balances owed to Valley) for PCI loans totaled $4.4 billion and $1.5 billion at December 31, 2018 and 2017 , respectively. Valley transferred $289.6 million and $313.2 million of residential mortgage loans from the loan portfolio to loans held for sale in 2018 and 2017 , respectively. Exclusive of such transfers, there were no other sales or transfers of loans from the held for investment portfolio during 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. See Note 1 for additional information. 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): January 1, 2018 (in thousands) Contractually required principal and interest $ 4,398,687 Contractual cash flows not expected to be collected (non-accretable difference) (101,796 ) Expected cash flows to be collected 4,296,891 Interest component of expected cash flows (accretable yield) (559,907 ) Fair value of acquired loans $ 3,736,984 The following table presents changes in the accretable yield for PCI loans for the years ended December 31, 2018 and 2017 : 2018 2017 (in thousands) Balance, beginning of period $ 282,009 $ 294,514 Acquisition 559,907 — Accretion (235,741 ) (89,770 ) Net increase in expected cash flows 269,783 77,265 Balance, end of period $ 875,958 $ 282,009 The net increase in expected cash flows for certain pools of loans (included in the table above) is recognized prospectively as an adjustment to the yield over the estimated remaining life of the individual pools. The net increase in the expected cash flows totaling approximately $269.8 million for the year ended December 31, 2018 was largely due to higher interest rates and increased construction loan balances (mainly acquired from USAB) captured in the cash flow reforecast in the fourth quarter of 2018. The net increase in the expected cash flows totaling approximately $77.3 million for the year ended December 31, 2017 was largely due to a decrease in the expected losses for certain PCI loan pools during the fourth quarter of 2017. Related Party Loans In the ordinary course of business, Valley has granted loans to certain directors, executive officers and their affiliates (collectively referred to as “related parties”). These loans were made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other unaffiliated persons and do not involve more than normal risk of collectability. All loans to related parties are performing as of December 31, 2018 . The following table summarizes the changes in the total amounts of loans and advances to the related parties during the year ended December 31, 2018 : 2018 (in thousands) Outstanding at beginning of year $ 151,265 New loans and advances 86,837 Repayments (23,994 ) Outstanding at end of year $ 214,108 Loan Portfolio Risk Elements and Credit Risk Management Credit risk management. For all of its loan types discussed below, Valley adheres to a credit policy designed to minimize credit risk while generating the maximum income given the level of risk. Management reviews and approves these policies and procedures on a regular basis with subsequent approval by the Board of Directors annually. Credit authority relating to a significant dollar percentage of the overall portfolio is centralized and controlled by the Credit Risk Management Division and by the Credit Committee. A reporting system supplements the management review process by providing management with frequent reports concerning loan production, loan quality, concentrations of credit, loan delinquencies, non-performing, and potential problem loans. Loan portfolio diversification is an important factor utilized by Valley to manage its risk across business sectors and through cyclical economic circumstances. Commercial and industrial loans. A significant proportion of Valley’s commercial and industrial loan portfolio is granted to long standing customers of proven ability, strong repayment performance, and high character. Underwriting standards are designed to assess the borrower’s ability to generate recurring cash flow sufficient to meet the debt service requirements of loans granted. While such recurring cash flow serves as the primary source of repayment, a significant number of the loans are collateralized by borrower assets intended to serve as a secondary source of repayment should the need arise. Anticipated cash flows of borrowers, however, may not be as expected and the collateral securing these loans may fluctuate in value, or in the case of loans secured by accounts receivable, the ability of the borrower to collect all amounts due from its customers. Short-term loans may be made on an unsecured basis based on a borrower’s financial strength and past performance. Whenever possible, Valley will obtain the personal guarantee of the borrower’s principals to mitigate the risk. Unsecured loans, when made, are generally granted to the Bank’s most credit worthy borrowers. Unsecured commercial and industrial loans totaled $580.5 million and $401.8 million at December 31, 2018 and 2017 , respectively. The commercial portfolio also includes taxi medallion loans, most of which consist of loans to fleet owners of New City medallions. At December 31, 2018 , the taxi medallion loans totaled $130.2 million and were classified as either substandard or doubtful loans. While most of the taxi medallion loans within the portfolio at December 31, 2018 are currently performing to their contractual terms, negative trends in the market valuations of the underlying taxi medallion collateral and a decline in borrower cash flows, among other factors, could impact the future performance of this portfolio. Commercial real estate loans . Commercial real estate loans are subject to underwriting standards and processes similar to commercial and industrial loans but generally they involve larger principal balances and longer repayment periods as compared to commercial and industrial loans. Commercial real estate loans are viewed primarily as cash flow loans and secondarily as loans secured by real property. Repayment of most loans is dependent upon the cash flow generated from the property securing the loan or the business that occupies the property. Commercial real estate loans may be more adversely affected by conditions in the real estate markets or in the general economy and accordingly, conservative loan to value ratios are required at origination, as well as stress tested to evaluate the impact of market changes relating to key underwriting elements. The properties securing the commercial real estate portfolio represent diverse types, with most properties located within Valley’s primary markets. Construction loans . With respect to loans to developers and builders, Valley originates and manages construction loans structured on either a revolving or non-revolving basis, depending on the nature of the underlying development project. These loans are generally secured by the real estate to be developed and may also be secured by additional real estate to mitigate the risk. Non-revolving construction loans often involve the disbursement of substantially all committed funds with repayment substantially dependent on the successful completion and sale, or lease, of the project. Sources of repayment for these types of loans may be from pre-committed permanent loans from other lenders, sales of developed property, or an interim loan commitment from Valley until permanent financing is obtained elsewhere. Revolving construction loans (generally relating to single-family residential construction) are controlled with loan advances dependent upon the presale of housing units financed. These loans are closely monitored by on-site inspections and are considered to have higher risks than other real estate loans due to their ultimate repayment being sensitive to interest rate changes, governmental regulation of real property, general economic conditions and the availability of long-term financing. Residential mortgages. Valley originates residential, first mortgage loans based on underwriting standards that generally comply with Fannie Mae and/or Freddie Mac requirements. Appraisals and valuations of real estate collateral are contracted directly with independent appraisers or from valuation services and not through appraisal management companies. The Bank’s appraisal management policy and procedure is in accordance with regulatory requirements and guidance issued by the Bank’s primary regulator. Credit scoring, using FICO ® and other proprietary credit scoring models are employed in the ultimate, judgmental credit decision by Valley’s underwriting staff. Valley does not use third party contract underwriting services. Residential mortgage loans include fixed and variable interest rate loans secured by one to four family homes mostly located in northern and central New Jersey, the New York City metropolitan area, and Florida. Valley’s ability to be repaid on such loans is closely linked to the economic and real estate market conditions in these regions. In deciding whether to originate each residential mortgage, Valley considers the qualifications of the borrower as well as the value of the underlying property. Home equity loans. Home equity lending consists of both fixed and variable interest rate products. Valley mainly provides home equity loans to its residential mortgage customers within the footprint of its primary lending territory. Valley generally will not exceed a combined (i.e., first and second mortgage) loan-to-value ratio of 80 percent when originating a home equity loan. Automobile loans. Valley uses both judgmental and scoring systems in the credit decision process for automobile loans. Automobile originations (including light truck and sport utility vehicles) are largely produced via indirect channels, originated through approved automobile dealers. Automotive collateral is generally a depreciating asset and there are times in the life of an automobile loan where the amount owed on a vehicle may exceed its collateral value. Additionally, automobile charge-offs will vary based on the strength or weakness of the used vehicle market, original advance rate, when in the life cycle of a loan a default occurs and the condition of the collateral being liquidated. Where permitted by law, and subject to the limitations of the bankruptcy code, deficiency judgments are sought and acted upon to ultimately collect all money owed, even when a default resulted in a loss at collateral liquidation. Valley uses a third party to actively track collision and comprehensive risk insurance required of the borrower on the automobile and this third party provides coverage to Valley in the event of an uninsured collateral loss. Other consumer loans. Valley’s other consumer loan portfolio includes direct consumer term loans, both secured and unsecured. The other consumer loan portfolio includes exposures in personal lines of credit (mainly those secured by cash surrender value of life insurance), credit card loans and personal loans. Unsecured consumer loans totaled approximately $58.1 million and $18.1 million , including $10.4 million and $8.2 million of credit card loans, at December 31, 2018 and 2017 , respectively. Valley believes the aggregate risk exposure to unsecured loans and lines of credit was not significant at December 31, 2018 . Credit Quality The following tables present past due, non-accrual and current loans (excluding PCI loans, which are accounted for on a pool basis) by loan portfolio class at December 31, 2018 and 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) December 31, 2018 Commercial and industrial $ 13,085 $ 3,768 $ 6,156 $ 70,096 $ 93,105 $ 3,497,270 $ 3,590,375 Commercial real estate: Commercial real estate 9,521 530 27 2,372 12,450 9,899,859 9,912,309 Construction 2,829 — — 356 3,185 1,119,163 1,122,348 Total commercial real estate loans 12,350 530 27 2,728 15,635 11,019,022 11,034,657 Residential mortgage 16,576 2,458 1,288 12,917 33,239 3,649,745 3,682,984 Consumer loans: Home equity 872 40 — 2,156 3,068 368,272 371,340 Automobile 7,973 1,299 308 80 9,660 1,309,546 1,319,206 Other consumer 895 47 33 419 1,394 845,427 846,821 Total consumer loans 9,740 1,386 341 2,655 14,122 2,523,245 2,537,367 Total $ 51,751 $ 8,142 $ 7,812 $ 88,396 $ 156,101 $ 20,689,282 $ 20,845,383 Past Due and Non-Accrual Loans 30-59 Days Past Due Loans 60-89 Days Past Due Loans Accruing Loans 90 Days Or More Past Due Non-Accrual Loans Total Past Due Loans Current Non-PCI Loans Total Non-PCI Loans (in thousands) December 31, 2017 Commercial and industrial $ 3,650 $ 544 $ — $ 20,890 $ 25,084 $ 2,523,981 $ 2,549,065 Commercial real estate: Commercial real estate 11,223 — 27 11,328 22,578 8,539,273 8,561,851 Construction 12,949 18,845 — 732 32,526 777,438 809,964 Total commercial real estate loans 24,172 18,845 27 12,060 55,104 9,316,711 9,371,815 Residential mortgage 12,669 7,903 2,779 12,405 35,756 2,681,988 2,717,744 Consumer loans: Home equity 1,009 94 — 1,777 2,880 370,751 373,631 Automobile 5,707 987 271 73 7,038 1,201,766 1,208,804 Other consumer 1,693 118 13 20 1,844 721,462 723,306 Total consumer loans 8,409 1,199 284 1,870 11,762 2,293,979 2,305,741 Total $ 48,900 $ 28,491 $ 3,090 $ 47,225 $ 127,706 $ 16,816,659 $ 16,944,365 If interest on non-accrual loans had been accrued in accordance with the original contractual terms, such interest income would have amounted to approximately $3.6 million , $2.5 million , and $2.1 million for the years ended December 31, 2018 , 2017 and 2016 , respectively; none of these amounts were included in interest income during these periods. Impaired loans . Impaired loans, consisting of non-accrual commercial and industrial loans and commercial real estate loans over $250 thousand and all loans which were modified in troubled debt restructurings, are individually evaluated for impairment. PCI loans are not classified as impaired loans because they are accounted for on a pool basis. The following table presents information about impaired loans by loan portfolio class at December 31, 2018 and 2017 : Recorded Investment With No Related Allowance Recorded Investment With Related Allowance Total Recorded Investment Unpaid Contractual Principal Balance Related Allowance (in thousands) December 31, 2018 Commercial and industrial $ 8,339 $ 89,513 $ 97,852 $ 104,007 $ 29,684 Commercial real estate: Commercial real estate 16,732 25,606 42,338 44,337 2,615 Construction 803 457 1,260 1,260 13 Total commercial real estate loans 17,535 26,063 43,598 45,597 2,628 Residential mortgage 7,826 6,078 13,904 14,948 600 Consumer loans: Home equity 125 1,146 1,271 1,366 113 Total consumer loans 125 1,146 1,271 1,366 113 Total $ 33,825 $ 122,800 $ 156,625 $ 165,918 $ 33,025 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 Interest income recognized on a cash basis for impaired loans classified as non-accrual was not material for the years ended December 31, 2018 , 2017 and 2016 . The following table presents, by loan portfolio class, the average recorded investment and interest income recognized on impaired loans for the years ended December 31, 2018 , 2017 and 2016 : 2018 2017 2016 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) Commercial and industrial $ 108,071 $ 1,822 $ 80,974 $ 1,459 $ 36,552 $ 1,045 Commercial real estate: Commercial real estate 44,838 2,289 54,799 1,908 59,633 2,122 Construction 1,517 69 3,258 86 5,790 182 Total commercial real estate loans 46,355 2,358 58,057 1,994 65,423 2,304 Residential mortgage 15,384 506 15,451 760 21,340 874 Consumer loans: Home equity 865 21 4,295 160 2,626 68 Total consumer loans 865 21 4,295 160 2,626 68 Total $ 170,675 $ 4,707 $ 158,777 $ 4,373 $ 125,941 $ 4,291 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 $77.2 million and $117.2 million as of December 31, 2018 and 2017 , respectively. Non-performing TDRs totaled $55.0 million and $27.0 million as of December 31, 2018 and 2017 , respectively. The following table presents non-PCI loans by loan class modified as TDRs during the years ended December 31, 2018 and 2017 . The pre-modification and post-modification outstanding recorded investments disclosed in the table below represent the loan carrying amounts immediately prior to the modification and the carrying amounts at December 31, 2018 and 2017 , respectively. Troubled Debt Restructurings Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment ($ in thousands) December 31, 2018 Commercial and industrial 25 $ 16,251 $ 15,105 Commercial real estate: Commercial real estate 8 5,643 6,600 Construction 1 532 356 Total commercial real estate 9 6,175 6,956 Residential mortgage 8 1,500 1,461 Consumer 2 99 101 Total 44 $ 24,025 $ 23,623 December 31, 2017 Commercial and industrial 90 $ 75,894 $ 69,020 Commercial real estate: Commercial real estate 6 23,781 23,548 Construction 3 1,188 932 Total commercial real estate 9 24,969 24,480 Residential mortgage 7 1,769 1,727 Total 106 $ 102,632 $ 95,227 The total TDRs presented in the table above had allocated specific reserves for loan losses that totaled $6.5 million and $8.7 million at December 31, 2018 and 2017 , respectively. These specific reserves are included in the allowance for loan losses for loans individually evaluated for impairment disclosed in Note 6. There were no loan charge-offs related to loans modified as TDRs during 2018 and 2017 . At December 31, 2018 , the commercial and industrial loan category in the above table largely consisted of non-performing and performing TDR taxi cab medallion loans classified as substandard and non-accrual doubtful loans. The non-PCI loans modified as TDRs within the previous 12 months and for which there was a payment default ( 90 or more days past due) for the years ended December 31, 2018 and 2017 were as follows: Years Ended December 31, 2018 2017 Troubled Debt Restructurings Subsequently Defaulted Number of Contracts Recorded Investment Number of Contracts Recorded Investment ($ in thousands) Commercial and industrial 10 $ 8,829 7 $ 5,841 Commercial real estate — — 1 165 Residential mortgage 3 490 5 1,125 Total 13 $ 9,319 13 $ 7,131 Credit quality indicators . Valley utilizes an internal loan classification system as a means of reporting problem loans within commercial and industrial, commercial real estate, and construction loan portfolio classes. Under Valley’s internal risk rating system, loan relationships could be classified as “Pass,” “Special Mention,” “Substandard,” “Doubtful,” and “Loss.” Substandard loans include loans that exhibit well-defined weakness and are characterized by the distinct possibility that Valley will sustain some loss if the deficiencies are not corrected. Loans classified as Doubtful have all the weaknesses inherent in those classified as Substandard with the added characteristic that the weaknesses present make collection or liquidation in full, based on currently existing facts, conditions and values, highly questionable and improbable. Loans classified as Loss are those considered uncollectible with insignificant value and are charged-off immediately to the allowance for loan losses, and, therefore, not presented in the table below. Loans that do not currently pose a sufficient risk to warrant classification in one of the aforementioned categories but pose weaknesses that deserve management’s close attention are deemed Special Mention. Loans rated as Pass do not currently pose any identified risk and can range from the highest to average quality, depending on the degree of potential risk. Risk ratings are updated any time the situation warrants. The following table presents the credit exposure by internally assigned risk rating by class of loans (excluding PCI loans) based on the most recent analysis performed at December 31, 2018 and 2017 . Credit exposure— by internally assigned risk rating Special Total Non-PCI Pass Mention Substandard Doubtful Loans (in thousands) December 31, 2018 Commercial and industrial $ 3,399,426 $ 31,996 $ 92,320 $ 66,633 $ 3,590,375 Commercial real estate 9,828,744 30,892 51,710 963 9,912,309 Construction 1,121,321 215 812 — 1,122,348 Total $ 14,349,491 $ 63,103 $ 144,842 $ 67,596 $ 14,625,032 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 December 31, 2018 , the commercial and industrial loans rated substandard and doubtful in the above table included performing TDR taxi medallion loans and non-accrual taxi medallion loans, respectively. For residential mortgages, automobile, home equity and other consumer loan portfolio classes (excluding PCI loans), Valley also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the recorded investment in those loan classes based on payment activity as of December 31, 2018 and 2017 : Credit exposure— by payment activity Performing Loans Non-Performing Loans Total Non-PCI Loans (in thousands) December 31, 2018 Residential mortgage $ 3,670,067 $ 12,917 $ 3,682,984 Home equity 369,184 2,156 371,340 Automobile 1,319,126 80 1,319,206 Other consumer 846,402 419 846,821 Total $ 6,204,779 $ 15,572 $ 6,220,351 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 December 31, 2018 and 2017 : Credit exposure— Performing Non-Performing Total by payment activity Loans Loans PCI Loans (in thousands) December 31, 2018 Commercial and industrial $ 710,045 $ 30,612 $ 740,657 Commercial real estate 2,478,990 15,976 2,494,966 Construction 364,815 969 365,784 Residential mortgage 421,609 6,807 428,416 Consumer 158,502 1,761 160,263 Total $ 4,133,961 $ 56,125 $ 4,190,086 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

Allowance for Credit Losses	12 Months Ended
	Dec. 31, 2018
Receivables [Abstract]
Allowance for Credit Losses	ALLOWANCE FOR CREDIT LOSSES (Note 6) The allowance for credit losses consists of the allowance for loan losses and the allowance for unfunded letters of credit. Management maintains the allowance for credit losses at a level estimated to absorb probable loan losses of the loan portfolio and unfunded letter of credit commitments at the balance sheet date. The allowance for loan losses is based on ongoing evaluations of the probable estimated losses inherent in the loan portfolio, including unexpected additional credit impairment of PCI loan pools subsequent to acquisition. There was no allowance allocation for PCI loan losses at December 31, 2018 and 2017 . The following table summarizes the allowance for credit losses at December 31, 2018 and 2017 : December 31, 2018 2017 (in thousands) Components of allowance for credit losses: Allowance for loan losses $ 151,859 $ 120,856 Allowance for unfunded letters of credit 4,436 3,596 Total allowance for credit losses $ 156,295 $ 124,452 The following table summarizes the provision for credit losses for the years ended December 31, 2018 , 2017 and 2016 : 2018 2017 2016 (in thousands) Components of provision for credit losses: Provision for loan losses $ 31,661 $ 8,531 $ 11,873 Provision for unfunded letters of credit 840 1,411 (4 ) Total provision for credit losses $ 32,501 $ 9,942 $ 11,869 The following table details the activity in the allowance for loan losses by portfolio segment for the years ended December 31, 2018 and 2017 : Commercial and Industrial Commercial Real Estate Residential Mortgage Consumer Total (in thousands) December 31, 2018 Allowance for loan losses: Beginning balance $ 57,232 $ 54,954 $ 3,605 $ 5,065 $ 120,856 Loans charged-off (2,515 ) (348 ) (223 ) (4,977 ) (8,063 ) Charged-off loans recovered 4,623 417 272 2,093 7,405 Net (charge-offs) recoveries 2,108 69 49 (2,884 ) (658 ) Provision for loan losses 31,616 (5,373 ) 1,387 4,031 31,661 Ending balance $ 90,956 $ 49,650 $ 5,041 $ 6,212 $ 151,859 December 31, 2017 Allowance for loan losses: Beginning balance $ 50,820 $ 55,851 $ 3,702 $ 4,046 $ 114,419 Loans charged-off (5,421 ) (559 ) (530 ) (4,564 ) (11,074 ) Charged-off loans recovered 4,736 1,425 1,016 1,803 8,980 Net (charge-offs) recoveries (685 ) 866 486 (2,761 ) (2,094 ) Provision for loan losses 7,097 (1,763 ) (583 ) 3,780 8,531 Ending balance $ 57,232 $ 54,954 $ 3,605 $ 5,065 $ 120,856 The following table represents the allocation of the allowance for loan losses and the related loans by loan portfolio segment disaggregated based on the impairment methodology for the years ended December 31, 2018 and 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) December 31, 2018 Allowance for loan losses: Individually evaluated for impairment $ 29,684 $ 2,628 $ 600 $ 113 $ 33,025 Collectively evaluated for impairment 61,272 47,022 4,441 6,099 118,834 Total $ 90,956 $ 49,650 $ 5,041 $ 6,212 $ 151,859 Loans: Individually evaluated for impairment $ 97,852 $ 43,598 $ 13,904 $ 1,271 $ 156,625 Collectively evaluated for impairment 3,492,523 10,991,059 3,669,080 2,536,096 20,688,758 Loans acquired with discounts related to credit quality 740,657 2,860,750 428,416 160,263 4,190,086 Total $ 4,331,032 $ 13,895,407 $ 4,111,400 $ 2,697,630 $ 25,035,469 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

Premises and Equipment, Net

Premises and Equipment, Net	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Premises and Equipment, Net	PREMISES AND EQUIPMENT, NET (Note 7) At December 31, 2018 and 2017 , premises and equipment, net consisted of: 2018 2017 (in thousands) Land $ 93,600 $ 77,235 Buildings 250,510 210,335 Leasehold improvements 77,425 79,217 Furniture and equipment 263,604 255,189 Total premises and equipment 685,139 621,976 Accumulated depreciation and amortization (343,509 ) (334,271 ) Total premises and equipment, net $ 341,630 $ 287,705 Depreciation and amortization of premises and equipment included in non-interest expense for the years ended December 31, 2018 , 2017 and 2016 was approximately $27.6 million , $24.8 million , and $24.4 million , respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS (Note 8) The changes in the carrying amount of goodwill as allocated to our business segments, or reporting units thereof, for goodwill impairment analysis were: Business Segment / Reporting Unit* Wealth Management Consumer Lending Commercial Lending Investment Management Total (in thousands) Balance at December 31, 2016 $ 21,218 $ 200,103 $ 316,258 $ 153,058 $ 690,637 Balance at December 31, 2017 $ 21,218 $ 200,103 $ 316,258 $ 153,058 $ 690,637 Goodwill from business combinations — 86,922 241,592 65,514 394,028 Balance at December 31, 2018 $ 21,218 $ 287,025 $ 557,850 $ 218,572 $ 1,084,665 * Valley’s Wealth Management Division is comprised of trust, asset management and insurance services. This reporting unit is included in the Consumer Lending segment for financial reporting purposes. The goodwill from business combinations during 2018 set forth in the table above relates to the USAB acquisition. During 2018, Valley adjusted the fair value of certain PCI loans and deferred tax assets which, on a combined basis, resulted in a $5.8 million net increase in goodwill. See Note 2 for further details related to the USAB acquisition. There was no impairment of goodwill during the years ended December 31, 2018 , 2017 and 2016 . The following tables summarize other intangible assets as of December 31, 2018 and 2017 : Gross Intangible Assets Accumulated Amortization Valuation Allowance Net Intangible Assets (in thousands) December 31, 2018 Loan servicing rights $ 87,354 $ (63,161 ) $ (83 ) $ 24,110 Core deposits 80,470 (29,136 ) — 51,334 Other 3,945 (2,399 ) — 1,546 Total other intangible assets $ 171,769 $ (94,696 ) $ (83 ) $ 76,990 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 Core deposits are amortized using an accelerated method and have a weighted average amortization period of 8 years . The line item labeled “Other” included in the table above primarily consists of customer lists which are amortized over their expected lives generally using a straight-line method and have a weighted average amortization period of 7.6 years . 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 years ended December 31, 2018 , 2017 and 2016 . The following table summarizes the change in loan servicing rights during the years ended December 31, 2018 , 2017 and 2016 : 2018 2017 2016 (in thousands) Loan servicing rights: Balance at beginning of year $ 22,084 $ 20,368 $ 16,681 Origination of loan servicing rights 8,216 7,039 8,479 Amortization expense (6,107 ) (5,323 ) (4,792 ) Balance at end of year $ 24,193 $ 22,084 $ 20,368 Valuation allowance: Balance at beginning of year $ (471 ) $ (900 ) $ (289 ) Impairment adjustment 388 429 (611 ) Balance at end of year $ (83 ) $ (471 ) $ (900 ) Balance at end of year, net of valuation allowance $ 24,110 $ 21,613 $ 19,468 Loan servicing rights are accounted for using the amortization method (see Note 1 for more details). The Bank is a servicer of residential mortgage loan portfolios, and it is compensated for loan administrative services performed for mortgage servicing rights of loans originated and sold by the Bank, and to a lesser extent, purchased mortgage servicing rights. The aggregate principal balances of residential mortgage loans serviced by the Bank for others approximated $3.2 billion , $2.8 billion and $2.5 billion at December 31, 2018 , 2017 and 2016 , respectively. The outstanding balance of loans serviced for others is not included in the consolidated statements of financial condition. Valley recognized amortization expense on other intangible assets, including recoveries and net impairment charges on loan servicing rights (reflected in the table above), of $18.4 million , $10.0 million and $11.3 million for the years ended December 31, 2018 , 2017 and 2016 , respectively. The following table presents the estimated amortization expense of other intangible assets over the next five-year period: Year Loan Servicing Rights Core Deposits Other (in thousands) 2019 $ 5,574 $ 10,961 $ 235 2020 4,590 9,607 220 2021 3,614 8,252 206 2022 2,872 6,898 191 2023 2,286 5,544 131

Deposits

Deposits	12 Months Ended
	Dec. 31, 2018
Banking and Thrift [Abstract]
Deposits	DEPOSITS (Note 9) Included in time deposits are certificates of deposit over $250 thousand totaling $1.1 billion and $647.3 million at December 31, 2018 and 2017 , respectively. Interest expense on time deposits of $250 thousand or more totaled approximately $6.6 million , $1.3 million , and $1.1 million in 2018 , 2017 and 2016 , respectively. The scheduled maturities of time deposits as of December 31, 2018 are as follows: Year Amount (in thousands) 2019 $ 4,987,313 2020 1,551,067 2021 163,059 2022 176,727 2023 143,287 Thereafter 42,531 Total time deposits $ 7,063,984 Deposits from certain directors, executive officers and their affiliates totaled $66.8 million and $77.7 million at December 31, 2018 and 2017 , respectively.

Borrowed Funds

Borrowed Funds	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Borrowed Funds	BORROWED FUNDS (Note 10) Short-Term Borrowings Short-term borrowings at December 31, 2018 and 2017 consisted of the following: 2018 2017 (in thousands) FHLB advances $ 1,732,000 $ 427,000 Securities sold under agreements to repurchase 261,914 321,628 Federal funds purchased 125,000 — Total short-term borrowings $ 2,118,914 $ 748,628 The weighted average interest rate for short-term borrowings was 2.45 percent and 1.05 percent at December 31, 2018 and 2017 , respectively. Long-Term Borrowings Long-term borrowings at December 31, 2018 and 2017 consisted of the following: 2018 2017 (in thousands) FHLB advances, net (1) $ 1,309,666 $ 1,980,666 Subordinated debt, net (2) 294,602 235,153 Securities sold under agreements to repurchase 50,000 100,000 Total long-term borrowings $ 1,654,268 $ 2,315,819 (1) FHLB advances are presented net of unamortized prepayment penalties and other purchase accounting adjustments totaling $10.3 million and $14.3 million at December 31, 2018 and 2017, respectively. (2) Subordinated debt is presented net of unamortized debt issuance costs totaling $1.4 million and $1.7 million at December 31, 2018 and 2017, respectively. In 2016, Valley prepaid $355 million and $50 million of the long-term FHLB advances and securities sold under agreements to repurchase, respectively. These prepaid borrowings, which had contractual maturity dates in 2018 and a total average interest rate of 3.69 percent , were funded with a new fixed-rate FHLB advance totaling $405.0 million (maturing in August 2021). The transaction was accounted for as a debt modification under U.S. GAAP. As a result, the new advance has an adjusted annual interest rate of 2.51 percent , after amortization of prepayment penalties totaling $20.0 million paid to the FHLB. In 2016, Valley also prepaid $87 million of FHLB advances assumed in the acquisition of CNL. The prepayment was entirely funded by cash balances that were held as collateral at the FHLB of Atlanta and resulted in the recognition of a $315 thousand loss on extinguishment of debt reported within other non-interest expense for the year ended December 31, 2016 . FHLB Advances. The long-term FHLB advances had a weighted average interest rate of 3.13 percent and 2.52 percent at December 31, 2018 and 2017 , respectively. These FHLB advances are secured by pledges of certain eligible collateral, including but not limited to, U.S. government and agency mortgage-backed securities and a blanket assignment of qualifying first lien mortgage loans, consisting of both residential mortgage and commercial real estate loans. The long-term FHLB advances at December 31, 2018 are scheduled for contractual balance repayments as follows: Year Amount (in thousands) 2019 $ 255,000 2020 25,000 2021 840,000 2022 200,000 Total long-term FHLB advances $ 1,320,000 There are no FHLB advances which are callable for early redemption by the FHLB in the table above. Subordinated Debt. In June 2015, Valley issued $100 million of 4.55 percent subordinated debentures (notes) due July 30, 2025 with no call dates or prepayments allowed unless certain conditions exist. Interest on the subordinated notes is payable semi-annually in arrears on June 30 and December 30 of each year. The subordinated notes had a net carrying value of $99.3 million and $99.2 million at December 31, 2018 and 2017 , respectively. In September 2013, Valley issued $125 million of its 5.125 percent subordinated notes due September 27, 2023 with no call dates or prepayments allowed, unless certain conditions exist. Interest on the subordinated debentures is payable semi-annually in arrears on March 27 and September 27 of each year. In conjunction with the issuance, Valley entered into an interest rate swap transaction used to hedge the change in the fair value of the subordinated notes. In August 2016, the fair value interest rate swap with a notional amount of $125 million was terminated resulting in an adjusted fixed annual interest rate of 3.32 percent on the subordinated notes, after amortization of the derivative valuation adjustment recorded at the termination date. The subordinated notes had a net carrying value of $134.2 million and $135.2 million at December 31, 2018 and 2017 , respectively. On January 1, 2018, Valley assumed $60 million of 6.25 percent subordinated notes, in connection with the acquisition of USAB. The notes are due April 1, 2026 callable beginning April 2021. Interest on the subordinated debentures is payable semi-annually in arrears on April 1 and October 1 of each year. After purchase accounting adjustments, the subordinated notes had a net carrying value of $61.1 million at December 31, 2018 . Long-term securities sold under agreements. The long-term securities sold under agreements had a weighted average interest rate of 3.70 percent and 3.37 percent at December 31, 2018 and 2017 , respectively. The long-term repos at December 31, 2018 are scheduled for contractual balance repayments as follows: Year Amount (in thousands) 2022 $ 50,000 Total long-term securities sold under agreements to repurchase $ 50,000 Pledged Securities. The fair value of securities pledged to secure public deposits, repurchase agreements, lines of credit, FHLB advances and for other purposes required by law approximated $2.4 billion and $1.9 billion for December 31, 2018 and 2017 , respectively.

Junior Subordinated Debentures

Junior Subordinated Debentures Issued to Capital Trusts	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Junior Subordinated Debentures Issued to Capital Trusts	JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS (Note 11) All of the statutory trusts presented in the table below were acquired in past bank acquisitions, including the Aliant Statutory Trust II acquired from USAB on January 1, 2018. These trusts were established for the sole purpose of issuing trust preferred securities and related trust common securities. The proceeds from such issuances were used by the trust to purchase an equivalent amount of junior subordinated debentures issued by the acquired bank, and now assumed by Valley. The junior subordinated debentures, the sole assets of the trusts, are unsecured obligations of Valley, and are subordinate and junior in right of payment to all present and future senior and subordinated indebtedness and certain other financial obligations of Valley. Valley does not consolidate its capital trusts based on U.S. GAAP but wholly owns all of the common securities of each trust. The table below summarizes the outstanding junior subordinated debentures and the related trust preferred securities issued by each trust as of December 31, 2018 and 2017 : GCB Capital Trust III State Bancorp Capital Trust I State Bancorp Capital Trust II Aliant Statutory Trust II ($ in thousands) Junior Subordinated Debentures: December 31, 2018 Carrying value (1) $ 24,743 $ 8,924 $ 8,337 $ 13,366 Contractual principal balance 24,743 10,310 10,310 15,464 December 31, 2017 Carrying value (1) $ 24,743 $ 8,824 $ 8,207 NA Contractual principal balance 24,743 10,310 10,310 NA Annual interest rate (2) 3-mo. LIBOR+1.4% 3-mo. LIBOR+3.45% 3-mo. LIBOR+2.85% 3-mo. LIBOR+1.8% Stated maturity date July 30, 2037 November 7, 2032 January 23, 2034 December 15, 2036 Initial call date July 30, 2017 November 7, 2007 January 23, 2009 December 15, 2011 Trust Preferred Securities: December 31, 2018 and 2017 Face value $ 24,000 $ 10,000 $ 10,000 $ 15,000 Annual distribution rate (2) 3-mo. LIBOR+1.4% 3-mo. LIBOR+3.45% 3-mo. LIBOR+2.85% 3-mo. LIBOR+1.8% Issuance date July 2, 2007 October 29, 2002 December 19, 2003 December 14, 2006 Distribution dates (3) Quarterly Quarterly Quarterly Quarterly (1) The carrying values include unamortized purchase accounting adjustments at December 31, 2018 and 2017 . (2) Interest on GCB Capital Trust III was fixed at an annual rate of 6.96 percent until July 30, 2017, thereafter, it resets quarterly to 3 -month LIBOR plus 1.4 percent . The annual interest rate for all of the junior subordinated debentures and related trust preferred securities excludes the effect of the purchase accounting adjustments. (3) All cash distributions are cumulative. The trust preferred securities are subject to mandatory redemption, in whole or in part, upon repayment of the junior subordinated debentures at the stated maturity date or upon early redemption. The trusts’ ability to pay amounts due on the trust preferred securities is solely dependent upon Valley making payments on the related junior subordinated debentures. Valley’s obligation under the junior subordinated debentures and other relevant trust agreements, in aggregate, constitutes a full and unconditional guarantee by Valley of the trusts’ obligations under the trust preferred securities issued. Under the junior subordinated debenture agreements, Valley has the right to defer payment of interest on the debentures and, therefore, distributions on the trust preferred securities, for up to five years , but not beyond the stated maturity dates in the table above. Currently, Valley has no intention to exercise its right to defer interest payments on the debentures. The trust preferred securities are included in Valley’s total risk-based capital (as Tier 2 capital) for regulatory purposes at December 31, 2018 and 2017 .

Benefit Plans

Benefit Plans	12 Months Ended
	Dec. 31, 2018
Retirement Benefits [Abstract]
Benefit Plans	BENEFIT PLANS (Note 12) Pension Plan The Bank has a non-contributory defined benefit plan (qualified plan) covering most of its employees. The qualified plan benefits are based upon years of credited service and the employee’s highest average compensation as defined. Additionally, the Bank has a supplemental non-qualified, non-funded retirement plan, which is designed to supplement the pension plan for key officers, and Valley has a non-qualified, non-funded directors’ retirement plan (both of these plans are referred to as the “non-qualified plans” below). Effective December 31, 2013, the benefits earned under the qualified and non-qualified plans were frozen. As a result, Valley re-measured the projected benefit obligation of the affected plans and the funded status of each plan at June 30, 2013. Consequently, participants in each plan will not accrue further benefits and their pension benefits will be determined based on their compensation and service as of December 31, 2013. Plan benefits will not increase for any compensation or service earned after such date. All participants were immediately vested in their frozen accrued benefits if they were employed by the Bank as of December 31, 2013. The following table sets forth the change in the projected benefit obligation, the change in fair value of plan assets and the funded status and amounts recognized in Valley’s consolidated financial statements for the qualified and non-qualified plans at December 31, 2018 and 2017 : 2018 2017 (in thousands) Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 170,566 $ 161,306 Interest cost 5,542 5,713 Actuarial (gain) loss (11,540 ) 10,148 Benefits paid (7,204 ) (6,601 ) Projected benefit obligation at end of year $ 157,364 $ 170,566 Change in fair value of plan assets: Fair value of plan assets at beginning of year $ 222,124 $ 206,639 Actual (loss) return on plan assets (5,545 ) 21,468 Employer contributions 1,133 618 Benefits paid (7,204 ) (6,601 ) Fair value of plan assets at end of year* $ 210,508 $ 222,124 Funded status of the plan Asset recognized $ 53,144 $ 51,558 Accumulated benefit obligation 157,364 170,566 * Includes accrued interest receivable of $660 thousand and $993 thousand as of December 31, 2018 and 2017 , respectively. Amounts recognized as a component of accumulated other comprehensive loss as of year-end that have not been recognized as a component of the net periodic pension expense for Valley’s qualified and non-qualified plans are presented in the following table. Valley expects to recognize approximately $309 thousand of the net actuarial loss reported in the following table as of December 31, 2018 as a component of net periodic pension expense during 2019 . 2018 2017 (in thousands) Net actuarial loss $ 42,893 $ 33,602 Deferred tax benefit (12,205 ) (14,044 ) Total $ 30,688 $ 19,558 The non-qualified plans had a projected benefit obligation, accumulated benefit obligation, and fair value of plan assets as follows: 2018 2017 (in thousands) Projected benefit obligation $ 18,708 $ 20,175 Accumulated benefit obligation 18,708 20,175 Fair value of plan assets — — In determining discount rate assumptions, management looks to current rates on fixed-income corporate debt securities that receive a rating of AA or higher from either Moody’s or S&P with durations equal to the expected benefit payments streams required of each plan. The weighted average discount rate used in determining the actuarial present value of benefit obligations for the qualified and non-qualified plans was 4.30 percent and 3.69 percent as of December 31, 2018 and 2017 , respectively. The net periodic pension income for the qualified and non-qualified plans reported within other non-interest expense (due to the adoption of ASU No. 2017-07) included the following components for the years ended December 31, 2018 , 2017 and 2016 : 2018 2017 2016 (in thousands) Interest cost $ 5,542 $ 5,713 $ 6,681 Expected return on plan assets (15,912 ) (15,163 ) (14,539 ) Amortization of net loss 625 381 294 Total net periodic pension income $ (9,745 ) $ (9,069 ) $ (7,564 ) At the end of 2016, Valley changed the method utilized to estimate the interest cost component of net periodic pension costs for our qualified and non-qualified plans. Historically, Valley estimated the interest cost component (and the service cost component when it was applicable) using a single weighted average discount rate derived from the yield curve used to measure the benefit obligation at the beginning of the period. At December 31, 2016, Valley elected to use a spot rate approach for the plans in the estimation of these components of benefit cost by applying the specific spot rates along the yield curve to the relevant projected cash flows. Valley believes this provides a better estimate of service and interest costs. Valley accounted for this change in estimate prospectively starting in 2017. This change does not affect the measurement of the total benefit obligation. For 2017, the change in estimate when compared to the prior approach accounted for a large portion of the decline in interest cost from 2016 to 2017 as shown in the table above. Other changes in the qualified and non-qualified plan assets and benefit obligations recognized in other comprehensive income/loss for the years ended December 31, 2018 and 2017 were as follows: 2018 2017 (in thousands) Net loss $ 9,917 $ 3,843 Amortization of prior service cost (35 ) (35 ) Amortization of actuarial loss (625 ) (381 ) Total recognized in other comprehensive income $ 9,257 $ 3,427 Total recognized in net periodic pension income and other comprehensive income/loss (before tax) $ (453 ) $ (5,607 ) The benefit payments, which reflect expected future service, as appropriate, expected to be paid in future years are presented in the following table: Year Amount (in thousands) 2019 $ 8,213 2020 8,491 2021 8,764 2022 8,938 2023 9,182 Thereafter 47,835 The weighted average discount rate, expected long-term rate of return on assets and rate of compensation increase used in determining Valley’s pension expense for the years ended December 31, 2018 , 2017 and 2016 were as follows: 2018 2017 2016 Discount rate 3.69 % 4.12 % 4.33 % Expected long-term return on plan assets 7.50 % 7.50 % 7.50 % Rate of compensation increase N/A N/A N/A The expected rate of return on plan assets assumption is based on the concept that it is a long-term assumption independent of the current economic environment and changes would be made in the expected return only when long-term inflation expectations change, asset allocations change materially or when asset class returns are expected to change for the long-term. In accordance with Section 402 (c) of ERISA, the qualified plan’s investment managers are granted full discretion to buy, sell, invest and reinvest the portions of the portfolio assigned to them consistent with the Bank’s Pension Committee’s policy and guidelines. The target asset allocation set for the qualified plan is an approximate equal weighting of 50 percent fixed income securities and 50 percent equity securities. The absolute investment objective for the equity portion is to earn at least 7 percent cumulative annualized real return, after adjustment by the Consumer Price Index (CPI), over rolling five -year periods, while the relative objective is to earn returns above the S&P 500 Index over rolling three -year periods. For the fixed income portion, the absolute objective is to earn at least a 3 percent cumulative annual real return, after adjustment by the CPI over rolling five -year periods with a relative objective of earning returns above the Merrill Lynch Intermediate Government/Corporate Index over rolling three -year periods. Cash equivalents will be invested in money market funds or in other high quality instruments approved by the Trustees of the qualified plan. The exposure of the plan assets of the qualified plan to a concentration of credit risk is limited by the Bank’s Pension Committee’s diversification of the investments into various investment options with multiple asset managers. The Pension Committee engages an investment management advisory firm that regularly monitors the performance of the asset managers and ensures they are within compliance of the policies adopted by the Trustees. If the risk profile and overall return of assets managed are not in line with the risk objectives or expected return benchmarks for the qualified plan, the advisory firm may recommend the termination of an asset manager to the Pension Committee. In general, the plan assets of the qualified plan are investment securities that are well-diversified in terms of industry, capitalization and asset class. The following table presents the qualified plan weighted-average asset allocations by asset category that are measured at fair value on a recurring basis by level within the fair value hierarchy under ASC Topic 820. Financial assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. See Note 3 for further details regarding the fair value hierarchy. Fair Value Measurements at Reporting Date Using: % of Total Investments December 31, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) ($ in thousands) Assets: Investments: Equity securities 28 % $ 59,447 $ 59,447 $ — $ — Corporate bonds 24 50,889 — 50,889 — Mutual funds 17 36,293 36,293 — — U.S. Treasury securities 24 50,838 50,838 — — Cash and money market funds 4 7,429 7,429 — — U.S. government agency securities 3 4,952 — 4,952 — Total investments 100 % $ 209,848 $ 154,007 $ 55,841 $ — Fair Value Measurements at Reporting Date Using: % of Total Investments December 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) ($ in thousands) Assets: Investments: Equity securities 38 % $ 84,791 $ 84,791 $ — $ — Corporate bonds 22 47,471 — 47,471 — Mutual funds 23 48,814 48,814 — — U.S. Treasury securities 13 28,671 28,671 — — Cash and money market funds 4 9,522 9,522 — — U.S. government agency securities * 1,862 — 1,862 — Total investments 100 % $ 221,131 $ 171,798 $ 49,333 $ — * Represents less than one percent of total investments. The following is a description of the valuation methodologies used for assets measured at fair value: Equity securities, U.S. Treasury securities and cash and money market funds are valued at fair value in the table above utilizing exchange quoted prices in active markets for identical instruments (Level 1 inputs). Mutual funds are measured at their respective net asset values, which represents fair values of the securities held in the funds based on exchange quoted prices available in active markets (Level 1 inputs). Corporate bonds and U.S. government agency securities are reported at fair value utilizing Level 2 inputs. The prices for these investments are derived from market quotations and matrix pricing obtained through an independent pricing service. Such fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. Based upon actuarial estimates, Valley does not expect to make any contributions to the qualified plan. Funding requirements for subsequent years are uncertain and will significantly depend on whether the plan’s actuary changes any assumptions used to calculate plan funding levels, the actual return on plan assets, changes in the employee groups covered by the plan, and any legislative or regulatory changes affecting plan funding requirements. For tax planning, financial planning, cash flow management or cost reduction purposes, Valley may increase, accelerate, decrease or delay contributions to the plan to the extent permitted by law. Other Non-Qualified Plans Valley maintains other non-qualified plans for former directors of banks acquired, as well as a non-qualified plan for former senior management of Merchants Bank of New York acquired in January of 2001. Valley did not merge these plans into its existing non-qualified plans. Collectively, at December 31, 2018 and 2017 , the remaining obligations under these plans were $1.7 million and $2.1 million , respectively, of which $512 thousand and $682 thousand , respectively, were funded by Valley. As of December 31, 2018 and 2017 , all of the obligations were included in other liabilities and $872 thousand (net of a $345 thousand tax benefit) and $994 thousand (net of a $400 thousand tax benefit), respectively, were recorded in accumulated other comprehensive loss. The $816 thousand in accumulated other comprehensive loss will be reclassified to expense on a straight-line basis over the remaining benefit periods of these non-qualified plans. Bonus Plan Valley National Bank and its subsidiaries may award cash incentive and merit bonuses to its officers and employees based upon a percentage of the covered employees’ compensation as determined by the achievement of certain performance objectives. Amounts charged to salary expense were $18.8 million , $10.8 million and $10.5 million during 2018 , 2017 and 2016 , respectively. Savings and Investment Plan Valley National Bank maintains a KSOP, which is defined as a 401(k) plan with an employee stock ownership feature. This plan covers eligible employees of the Bank and its subsidiaries and allows employees to contribute a percentage of their salary, with the Bank matching a certain percentage of the employee contribution in cash invested in accordance with each participant’s investment elections. The Bank recorded $8.5 million , $7.1 million and $6.7 million in expense for contributions to the plan for the years ended December 31, 2018 , 2017 and 2016 , respectively. Stock-Based Compensation Valley currently has one active employee stock incentive plan, the 2016 Long-Term Stock Incentive Plan (the “2016 Stock Plan”), adopted by Valley’s Board of Directors on January 29, 2016 and approved by its shareholders on April 28, 2016. The 2016 Stock Plan is administered by the Compensation and Human Resources Committee (the “Committee”) appointed by Valley’s Board of Directors. The Committee can grant awards to officers and key employees of Valley. The purpose of the 2016 Stock Plan is to provide additional incentive to officers and key employees of Valley and its subsidiaries, whose substantial contributions are essential to the continued growth and success of Valley, and to attract and retain competent and dedicated officers and other key employees whose efforts will result in the continued and long-term growth of Valley’s business. Under the 2016 Stock Plan, Valley may award shares of common stock in the form of stock appreciation rights, both incentive and non-qualified stock options, restricted stock and restricted stock units (RSUs) to its employees and non-employee directors. As of December 31, 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. The maximum term to exercise an incentive stock option is ten years from the date of grant and is subject to a vesting schedule. Valley recorded total stock-based compensation expense, primarily for restricted stock awards, totaling $19.5 million , $12.2 million and $10.0 million for the years ended December 31, 2018 , 2017 and 2016 , respectively. The stock-based compensation expense for 2018 , 2017 and 2016 included $4.3 million , $4.3 million and $3.5 million , respectively, related to stock awards granted to retirement eligible employees and was immediately recognized. The fair values of all other stock awards are expensed over the shorter of the vesting or required service period. As of December 31, 2018 , the unrecognized amortization expense for all stock-based compensation totaled approximately $16.6 million and will be recognized over an average remaining vesting period of approximately 2.1 years . Restricted Stock. Restricted stock is awarded to key employees providing for the immediate award of our common stock subject to certain vesting and restrictions under the 2016 Stock Plan. Compensation expense is measured based on the grant-date fair value of the shares. The following table sets forth the changes in restricted stock awards (RSAs) outstanding for the years ended December 31, 2018 , 2017 and 2016 : Restricted Stock Awards Outstanding 2018 2017 2016 Outstanding at beginning of year 1,771,702 2,100,816 2,755,138 Granted 1,263,144 608,786 544,307 Vested (1,128,521 ) (736,575 ) (1,050,293 ) Forfeited (185,357 ) (201,325 ) (148,336 ) Outstanding at end of year 1,720,968 1,771,702 2,100,816 The RSAs granted in 2018 have vesting periods ranging from one to five years . The average grant date fair value of RSAs granted during the year ended December 31, 2018 was $11.85 per share. Included in the RSAs granted (in the table above) during 2018 and 2017, 60 thousand and 45 thousand shares, respectively, were issued to Valley directors. In 2018 and 2017 , each non-management director received $60 thousand and $50 thousand , respectively, of RSAs as part of their annual retainer. The RSAs were granted on the date of the annual shareholders’ meeting with the number of RSAs determined using the closing market price on the date prior to grant. The RSAs vest on the earlier of the next annual shareholders’ meeting or the first anniversary of the grant date, with acceleration upon a change in control, death or disability, but not resignation from the Board of Directors. During 2014, 240 thousand shares of performance-based RSAs were granted to executive officers and vested based on the same performance measures for the RSU grants discussed below. During 2017 and 2016, 85 thousand and 53 thousand restricted shares, respectively, vested related to the performance-based RSAs. The total remaining unvested performance-based RSAs were forfeited during 2017 due to failure to meet the performance and market conditions at the final year of vesting. Restricted Stock Units (RSUs) . The RSUs vest based on (i) growth in tangible book value per share plus dividends ( 75 percent of performance shares) and (ii) total shareholder return as compared to our peer group ( 25 percent of performance shares). The RSUs "cliff" vest after three years based on the cumulative performance of Valley during that time period. The RSUs earn dividend equivalents (equal to cash dividends paid on Valley's common share) over the applicable performance period. Dividend equivalents, per the terms of the agreements, are accumulated and paid to the grantee at the vesting date, or forfeited if the performance conditions are not met. The grant date fair value of the RSUs was $12.36 , $11.05 and $8.32 per share for the years ended December 31, 2018 , 2017 , and 2016, respectively. Compensation costs related to RSUs totaled $5.5 million , $3.8 million and $2.8 million , and were included in total stock-based compensation expense for the years ended December 31, 2018 , 2017 and 2016, respectively. The following table sets forth the changes in RSUs outstanding for the years ended December 31, 2018 , 2017 and 2016 : Restricted Stock Units Outstanding 2018 2017 2016 Outstanding at beginning of year 1,114,962 744,281 313,212 Acquired from USAB 336,379 — — Granted 509,725 370,681 431,069 Vested (503,879 ) — — Forfeited (78,301 ) — — Outstanding at end of year 1,378,886 1,114,962 744,281 In connection with the USAB acquisition on January 1, 2018, Valley assumed 336 thousand time-based RSUs (of which 179 thousand remained unvested and outstanding as of December 31, 2018 ). The stock plan under which the stock awards were issued is no longer active. Stock-based compensation expense related to the USAB RSUs totaled $1.6 million for the year ended December 31, 2018. Stock Options . The fair value of each option granted on the date of grant is estimated using a binomial option pricing model. The fair values are estimated using assumptions for dividend yield based on the annual dividend rate; the stock volatility, based on Valley’s historical and implied stock price volatility; the risk-free interest rates, based on the U.S. Treasury constant maturity bonds, in effect on the actual grant dates, with a remaining term approximating the expected term of the options; and expected exercise term calculated based on Valley’s historical exercise experience. The following table summarizes stock options activity as of December 31, 2018 , 2017 and 2016 and changes during the years ended on those dates: 2018 2017 2016 Weighted Average Exercise Weighted Average Exercise Weighted Average Exercise Stock Options Shares Price Shares Price Shares Price Outstanding at beginning of year 446,980 $ 13 732,489 $ 14 1,383,365 $ 16 Acquired from USAB 1,803,165 5 — — — — Exercised (975,325 ) 5 — — — — Forfeited or expired (223,033 ) 14 (285,509 ) 16 (650,876 ) 18 Outstanding at end of year 1,051,787 7 446,980 13 732,489 14 Exercisable at year-end 604,003 7 446,980 13 632,489 14 In connection with the USAB acquisition on January 1, 2018, Valley assumed stock option awards totaling 1.8 million shares of Valley common stock (of which options for 813 thousand shares remained outstanding as of December 31, 2018 ) at a weighted average exercise price of $5.47 . The following table summarizes information about stock options outstanding and exercisable at December 31, 2018 : Options Outstanding and Exercisable Range of Exercise Prices Number of Options Weighted Average Remaining Contractual Life in Years Weighted Average Exercise Price $2-$4 40,870 2.9 $ 3 4-6 284,912 5.1 5 6-10 42,094 7.6 7 10-18 236,127 1.9 12 604,003 3.9 7 Director Restricted Stock Plan. The Director Restricted Stock Plan provides the non-employee members of the Board of Directors with the opportunity to forgo some or their entire annual cash retainer and meeting fees in exchange for shares of Valley restricted stock. On January 29, 2014, the Director Restricted Stock Plan was amended to provide that no additional fees may be exchanged for Valley’s restricted stock effective April 1, 2014. The Director Restricted Stock Plan terminated in April 2018 when the remaining restricted stock under the plan vested. The following table sets forth the changes in director’s restricted stock awards outstanding for the years ended December 31, 2018 , 2017 and 2016: Restricted Stock Awards Outstanding 2018 2017 2016 Outstanding at beginning of year 17,885 55,510 80,117 Vested (17,885 ) (37,625 ) (24,607 ) Outstanding at end of year — 17,885 55,510

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES (Note 13) The U.S. Tax Cuts and Jobs Act (the "Tax Act") was enacted on December 22, 2017 and introduces significant changes to U.S. income tax law. Effective in 2018, the Tax Act reduced the U.S. statutory corporate tax rate from 35 percent to 21 percent. In response to the Tax Act, the SEC staff issued guidance on accounting for the tax effects of the Tax Act. The guidance provides a one-year measurement period for companies to complete the accounting. Valley reflected the income tax effects of those aspects of the Tax Act for which the accounting is complete. To the extent Valley’s accounting for certain income tax effects of the Tax Act is incomplete but it can determine a reasonable estimate, Valley recorded a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply the provisions of the tax laws that were in effect immediately before the enactment of the Tax Act. Due to the timing of the enactment and the complexity involved in applying the provisions of the Tax Act, Valley made reasonable estimates of the effects and recorded provisional amounts in its financial statements as of December 31, 2017. The accounting for the tax effects of the Tax Act was completed with the final 2017 tax returns in the fourth quarter of 2018, resulting in a $2.3 million tax benefit for the year ended December 31, 2018 . Income tax expense for the years ended December 31, 2018 , 2017 and 2016 consisted of the following: 2018 2017 2016 (in thousands) Current expense: Federal $ 51,147 $ 8,483 $ 25,176 State 28,898 5,500 12,904 80,045 13,983 38,080 Deferred (benefit) expense: Federal (17,463 ) 49,169 10,658 State 5,683 27,679 16,496 (11,780 ) 76,848 27,154 Total income tax expense $ 68,265 $ 90,831 $ 65,234 The tax effects of temporary differences that gave rise to the significant portions of the deferred tax assets and liabilities as of December 31, 2018 and 2017 are as follows: 2018 2017 (in thousands) Deferred tax assets: Allowance for loan losses $ 42,882 $ 34,885 Depreciation 19,111 8,336 Employee benefits 13,301 10,596 Investment securities, including other-than-temporary impairment losses 13,222 5,021 Net operating loss carryforwards 21,570 30,658 Purchase accounting 33,629 18,819 Capital loss carryforward 830 — Other 21,274 21,930 Total deferred tax assets 165,819 130,245 Deferred tax liabilities: Pension plans 18,786 18,912 Other investments 17,758 13,234 Deferred income — 37,952 Core deposit intangibles 14,223 5,182 Other 8,858 7,469 Total deferred tax liabilities 59,625 82,749 Valuation Allowance 733 — Net deferred tax asset (included in other assets) $ 105,461 $ 47,496 Valley's federal net operating loss carryforwards totaled approximately $80.2 million at December 31, 2018 and expire during the period from 2029 through 2034. Valley's capital loss carryforwards totaled $3.1 million at December 31, 2018 and expire at December 31, 2023. State net operating loss carryforwards totaled approximately $104 million at December 31, 2018 and expire during the period from 2029 through 2038. Based upon taxes paid and projections of future taxable income over the periods in which the net deferred tax assets are deductible, management believes that it is more likely than not that Valley will realize the benefits, net of an immaterial valuation allowance, of these deductible differences and loss carryforwards. Reconciliation between the reported income tax expense and the amount computed by multiplying consolidated income before taxes by the statutory federal income tax rate of 21 percent for the year ended December 31, 2018 , and 35 percent for the years ended December 31, 2017 and 2016 were as follows: 2018 2017 2016 (in thousands) Federal income tax at expected statutory rate $ 69,235 $ 88,458 $ 81,683 Increase (decrease) due to: State income tax expense, net of federal tax effect 23,851 21,046 19,197 Tax-exempt interest, net of interest incurred to carry tax-exempt securities (3,974 ) (5,245 ) (5,308 ) Bank owned life insurance (1,734 ) (2,568 ) (2,343 ) Tax credits from securities and other investments (20,798 ) (27,037 ) (25,954 ) FDIC insurance premium 3,318 — — Impact of the Tax Act (2,274 ) 15,441 — Other, net 641 736 (2,041 ) Income tax expense $ 68,265 $ 90,831 $ 65,234 A reconciliation of Valley’s gross unrecognized tax benefits for 2018 , 2017 and 2016 are presented in the table below: 2018 2017 2016 (in thousands) Beginning balance $ 4,238 $ 16,144 $ 19,892 Additions based on tax positions related to prior years — 1,121 3,958 Settlements with taxing authorities — (13,027 ) (4,820 ) Reductions due to expiration of statute of limitations (4,238 ) — (2,886 ) Ending balance $ — $ 4,238 $ 16,144 The entire balance of unrecognized tax benefits, if recognized, would favorably affect our effective income tax rate. Valley’s policy is to report interest and penalties, if any, related to unrecognized tax benefits in income tax expense. Valley accrued approximately $1.8 million and $4.6 million of interest associated with Valley’s uncertain tax positions at December 31, 2017 and 2016 , respectively. Valley believes no provisions for income tax uncertainties consistent with ASC 740 should be recorded as of December 31, 2018. Valley is evaluating the possibility of recording an uncertain tax position liability in 2019 with regards to its investments in mobile solar generators sold and managed by DC Solar and its affiliates (DC Solar). For further information, see Note 23 - Subsequent Events. Valley files income tax returns in the U.S. federal and various state jurisdictions. With few exceptions, Valley is no longer subject to U.S. federal and state income tax examinations by tax authorities for years before 2013. Valley is under examination by the IRS and also currently under routine examination by various state jurisdictions, and we expect the examinations to be completed within the next 12 months. Valley has considered, for all open audits, any potential adjustments in establishing our reserve for unrecognized tax benefits as of December 31, 2018 . TAX CREDIT INVESTMENTS (Note 14) Valley’s tax credit investments are primarily related to investments promoting qualified affordable housing projects, and other investments related to community development and renewable energy sources. Some of these tax-advantaged investments support Valley’s regulatory compliance with the Community Reinvestment Act. Valley’s investments in these entities generate a return primarily through the realization of federal income tax credits, and other tax benefits, such as tax deductions from operating losses of the investments, over specified time periods. These tax credits and deductions are recognized as a reduction of income tax expense. Valley’s tax credit investments are carried in other assets on the consolidated statements of financial condition. Valley’s unfunded capital and other commitments related to the tax credit investments are carried in accrued expenses and other liabilities on the consolidated statements of financial condition. Valley recognizes amortization of tax credit investments, including impairment losses, within non-interest expense of the consolidated statements of income using the equity method of accounting. An impairment loss is recognized when the fair value of the tax credit investment is less than its carrying value. The following table presents the balances of Valley’s affordable housing tax credit investments, other tax credit investments, and related unfunded commitments at December 31, 2018 and 2017 : December 31, 2018 2017 (in thousands) Other Assets: Affordable housing tax credit investments, net $ 36,961 $ 22,135 Other tax credit investments, net 68,052 42,015 Total tax credit investments, net $ 105,013 $ 64,150 Other Liabilities: Unfunded affordable housing tax credit commitments $ 4,520 $ 3,690 Unfunded other tax credit commitments 8,756 15,020 Total unfunded tax credit commitments $ 13,276 $ 18,710 The following table presents other information relating to Valley’s affordable housing tax credit investments and other tax credit investments for the years ended December 31, 2018 , 2017 and 2016 : 2018 2017 2016 (in thousands) Components of Income Tax Expense: Affordable housing tax credits and other tax benefits $ 6,713 $ 7,383 $ 5,013 Other tax credit investment credits and tax benefits 21,351 35,530 33,294 Total reduction in income tax expense $ 28,064 $ 42,913 $ 38,307 Amortization of Tax Credit Investments: Affordable housing tax credit investment losses $ 1,880 $ 2,748 $ 2,077 Affordable housing tax credit investment impairment losses* 2,544 4,684 450 Other tax credit investment losses 1,970 2,866 790 Other tax credit investment impairment losses* 17,806 31,449 31,427 Total amortization of tax credit investments recorded in non-interest expense $ 24,200 $ 41,747 $ 34,744 * As a result of the Tax Act, Valley incurred additional impairment of $2.2 million and $2.1 million related to affordable housing tax credit investments and other tax credit investments, respectively, during the fourth quarter of 2017.

Tax Credit Investments

Tax Credit Investments	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Tax Credit Investments	INCOME TAXES (Note 13) The U.S. Tax Cuts and Jobs Act (the "Tax Act") was enacted on December 22, 2017 and introduces significant changes to U.S. income tax law. Effective in 2018, the Tax Act reduced the U.S. statutory corporate tax rate from 35 percent to 21 percent. In response to the Tax Act, the SEC staff issued guidance on accounting for the tax effects of the Tax Act. The guidance provides a one-year measurement period for companies to complete the accounting. Valley reflected the income tax effects of those aspects of the Tax Act for which the accounting is complete. To the extent Valley’s accounting for certain income tax effects of the Tax Act is incomplete but it can determine a reasonable estimate, Valley recorded a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply the provisions of the tax laws that were in effect immediately before the enactment of the Tax Act. Due to the timing of the enactment and the complexity involved in applying the provisions of the Tax Act, Valley made reasonable estimates of the effects and recorded provisional amounts in its financial statements as of December 31, 2017. The accounting for the tax effects of the Tax Act was completed with the final 2017 tax returns in the fourth quarter of 2018, resulting in a $2.3 million tax benefit for the year ended December 31, 2018 . Income tax expense for the years ended December 31, 2018 , 2017 and 2016 consisted of the following: 2018 2017 2016 (in thousands) Current expense: Federal $ 51,147 $ 8,483 $ 25,176 State 28,898 5,500 12,904 80,045 13,983 38,080 Deferred (benefit) expense: Federal (17,463 ) 49,169 10,658 State 5,683 27,679 16,496 (11,780 ) 76,848 27,154 Total income tax expense $ 68,265 $ 90,831 $ 65,234 The tax effects of temporary differences that gave rise to the significant portions of the deferred tax assets and liabilities as of December 31, 2018 and 2017 are as follows: 2018 2017 (in thousands) Deferred tax assets: Allowance for loan losses $ 42,882 $ 34,885 Depreciation 19,111 8,336 Employee benefits 13,301 10,596 Investment securities, including other-than-temporary impairment losses 13,222 5,021 Net operating loss carryforwards 21,570 30,658 Purchase accounting 33,629 18,819 Capital loss carryforward 830 — Other 21,274 21,930 Total deferred tax assets 165,819 130,245 Deferred tax liabilities: Pension plans 18,786 18,912 Other investments 17,758 13,234 Deferred income — 37,952 Core deposit intangibles 14,223 5,182 Other 8,858 7,469 Total deferred tax liabilities 59,625 82,749 Valuation Allowance 733 — Net deferred tax asset (included in other assets) $ 105,461 $ 47,496 Valley's federal net operating loss carryforwards totaled approximately $80.2 million at December 31, 2018 and expire during the period from 2029 through 2034. Valley's capital loss carryforwards totaled $3.1 million at December 31, 2018 and expire at December 31, 2023. State net operating loss carryforwards totaled approximately $104 million at December 31, 2018 and expire during the period from 2029 through 2038. Based upon taxes paid and projections of future taxable income over the periods in which the net deferred tax assets are deductible, management believes that it is more likely than not that Valley will realize the benefits, net of an immaterial valuation allowance, of these deductible differences and loss carryforwards. Reconciliation between the reported income tax expense and the amount computed by multiplying consolidated income before taxes by the statutory federal income tax rate of 21 percent for the year ended December 31, 2018 , and 35 percent for the years ended December 31, 2017 and 2016 were as follows: 2018 2017 2016 (in thousands) Federal income tax at expected statutory rate $ 69,235 $ 88,458 $ 81,683 Increase (decrease) due to: State income tax expense, net of federal tax effect 23,851 21,046 19,197 Tax-exempt interest, net of interest incurred to carry tax-exempt securities (3,974 ) (5,245 ) (5,308 ) Bank owned life insurance (1,734 ) (2,568 ) (2,343 ) Tax credits from securities and other investments (20,798 ) (27,037 ) (25,954 ) FDIC insurance premium 3,318 — — Impact of the Tax Act (2,274 ) 15,441 — Other, net 641 736 (2,041 ) Income tax expense $ 68,265 $ 90,831 $ 65,234 A reconciliation of Valley’s gross unrecognized tax benefits for 2018 , 2017 and 2016 are presented in the table below: 2018 2017 2016 (in thousands) Beginning balance $ 4,238 $ 16,144 $ 19,892 Additions based on tax positions related to prior years — 1,121 3,958 Settlements with taxing authorities — (13,027 ) (4,820 ) Reductions due to expiration of statute of limitations (4,238 ) — (2,886 ) Ending balance $ — $ 4,238 $ 16,144 The entire balance of unrecognized tax benefits, if recognized, would favorably affect our effective income tax rate. Valley’s policy is to report interest and penalties, if any, related to unrecognized tax benefits in income tax expense. Valley accrued approximately $1.8 million and $4.6 million of interest associated with Valley’s uncertain tax positions at December 31, 2017 and 2016 , respectively. Valley believes no provisions for income tax uncertainties consistent with ASC 740 should be recorded as of December 31, 2018. Valley is evaluating the possibility of recording an uncertain tax position liability in 2019 with regards to its investments in mobile solar generators sold and managed by DC Solar and its affiliates (DC Solar). For further information, see Note 23 - Subsequent Events. Valley files income tax returns in the U.S. federal and various state jurisdictions. With few exceptions, Valley is no longer subject to U.S. federal and state income tax examinations by tax authorities for years before 2013. Valley is under examination by the IRS and also currently under routine examination by various state jurisdictions, and we expect the examinations to be completed within the next 12 months. Valley has considered, for all open audits, any potential adjustments in establishing our reserve for unrecognized tax benefits as of December 31, 2018 . TAX CREDIT INVESTMENTS (Note 14) Valley’s tax credit investments are primarily related to investments promoting qualified affordable housing projects, and other investments related to community development and renewable energy sources. Some of these tax-advantaged investments support Valley’s regulatory compliance with the Community Reinvestment Act. Valley’s investments in these entities generate a return primarily through the realization of federal income tax credits, and other tax benefits, such as tax deductions from operating losses of the investments, over specified time periods. These tax credits and deductions are recognized as a reduction of income tax expense. Valley’s tax credit investments are carried in other assets on the consolidated statements of financial condition. Valley’s unfunded capital and other commitments related to the tax credit investments are carried in accrued expenses and other liabilities on the consolidated statements of financial condition. Valley recognizes amortization of tax credit investments, including impairment losses, within non-interest expense of the consolidated statements of income using the equity method of accounting. An impairment loss is recognized when the fair value of the tax credit investment is less than its carrying value. The following table presents the balances of Valley’s affordable housing tax credit investments, other tax credit investments, and related unfunded commitments at December 31, 2018 and 2017 : December 31, 2018 2017 (in thousands) Other Assets: Affordable housing tax credit investments, net $ 36,961 $ 22,135 Other tax credit investments, net 68,052 42,015 Total tax credit investments, net $ 105,013 $ 64,150 Other Liabilities: Unfunded affordable housing tax credit commitments $ 4,520 $ 3,690 Unfunded other tax credit commitments 8,756 15,020 Total unfunded tax credit commitments $ 13,276 $ 18,710 The following table presents other information relating to Valley’s affordable housing tax credit investments and other tax credit investments for the years ended December 31, 2018 , 2017 and 2016 : 2018 2017 2016 (in thousands) Components of Income Tax Expense: Affordable housing tax credits and other tax benefits $ 6,713 $ 7,383 $ 5,013 Other tax credit investment credits and tax benefits 21,351 35,530 33,294 Total reduction in income tax expense $ 28,064 $ 42,913 $ 38,307 Amortization of Tax Credit Investments: Affordable housing tax credit investment losses $ 1,880 $ 2,748 $ 2,077 Affordable housing tax credit investment impairment losses* 2,544 4,684 450 Other tax credit investment losses 1,970 2,866 790 Other tax credit investment impairment losses* 17,806 31,449 31,427 Total amortization of tax credit investments recorded in non-interest expense $ 24,200 $ 41,747 $ 34,744 * As a result of the Tax Act, Valley incurred additional impairment of $2.2 million and $2.1 million related to affordable housing tax credit investments and other tax credit investments, respectively, during the fourth quarter of 2017.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES (Note 15) Lease Commitments Certain bank facilities are occupied under non-cancelable long-term operating leases, which expire at various dates through 2058. Certain lease agreements provide for renewal options and increases in rental payments based upon increases in the consumer price index or the lessors’ cost of operating the facility. Minimum aggregate lease payments for the remainder of the lease terms are as follows: Sublease Year Gross Rents Rents Net Rents (in thousands) 2019 $ 29,093 $ 2,382 $ 26,711 2020 29,379 2,290 27,089 2021 28,925 2,160 26,765 2022 27,562 2,002 25,560 2023 25,064 1,938 23,126 Thereafter 262,200 8,558 253,642 Total lease commitments $ 402,223 $ 19,330 $ 382,893 Net occupancy expense for years ended December 31, 2018 , 2017 , and 2016 included rental expense of $29.0 million , $27.7 million , and $27.7 million , respectively, net of rental income of $3.5 million , $3.9 million , and $4.0 million , respectively, for leased bank facilities. Financial Instruments with Off-balance Sheet Risk In the ordinary course of business in meeting the financial needs of its customers, Valley, through its subsidiary Valley National Bank, is a party to various financial instruments, which are not reflected in the consolidated financial statements. These financial instruments include standby and commercial letters of credit, unused portions of lines of credit and commitments to extend various types of credit. These instruments involve, to varying degrees, elements of credit risk in excess of the amounts recognized in the consolidated financial statements. The commitment or contract amount of these instruments is an indicator of the Bank’s level of involvement in each type of instrument as well as the exposure to credit loss in the event of non-performance by the other party to the financial instrument. The Bank seeks to limit any exposure of credit loss by applying the same credit policies in making commitments, as it does for on-balance sheet lending facilities. The following table provides a summary of financial instruments with off-balance sheet risk at December 31, 2018 and 2017 : 2018 2017 (in thousands) Commitments under commercial loans and lines of credit $ 5,164,186 $ 3,401,653 Home equity and other revolving lines of credit 1,178,306 1,006,329 Standby letters of credit 316,941 250,536 Outstanding residential mortgage loan commitments 235,310 192,685 Commitments under unused lines of credit—credit card 66,229 54,906 Commitments to sell loans 58,897 57,405 Commercial letters of credit 3,100 2,115 Obligations to advance funds under commitments to extend credit, including commitments under unused lines of credit, are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have specified expiration dates, which may be extended upon request, or other termination clauses and generally require payment of a fee. These commitments do not necessarily represent future cash requirements as it is anticipated that many of these commitments will expire without being fully drawn upon. The Bank’s lending activity for outstanding loan commitments is primarily to customers within the states of New Jersey, New York, and Florida. Standby letters of credit represent the guarantee by the Bank of the obligations or performance of the bank customer in the event of the default of payment or nonperformance to a third party beneficiary. Loan sale commitments represent contracts for the sale of residential mortgage loans to third parties in the ordinary course of the Bank’s business. These commitments require the Bank to deliver loans within a specific period to the third party. The risk to the Bank is its non-delivery of loans required by the commitment, which could lead to financial penalties. The Bank has not defaulted on its loan sale commitments. Litigation In the normal course of business, Valley is a party to various outstanding legal proceedings and claims. In the opinion of management, the financial condition, results of operations and liquidity of Valley should not be materially affected by the outcome of such legal proceedings and claims. However, in the event of an adverse outcome or settlement in one or more of our legal proceedings, operating results for a particular period may be negatively impacted. Disclosure is required when a risk of material loss in a litigation or claim is more than remote. Disclosure is also required of the estimate of the reasonably possible loss or range of loss, unless an estimate cannot be made. Although there can be no assurance as to the ultimate outcome, Valley has generally denied, or believes it has a meritorious defense and will deny liability in litigation pending against Valley and claims made, including the matter described below. Valley intends to defend vigorously each case against it. Liabilities are established for legal claims when payments associated with the claims become probable and the possible losses related to the matter can be reasonably estimated. Based upon information currently available and advice of counsel, Valley believes that the eventual outcome of such claims will not have a material adverse effect on Valley’s consolidated financial position. 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 the Fair Labor Standards Act and seeking to recover overtime compensation on behalf of a class of Valley employees. While Branch Service Managers are classified by Valley as “exempt” employees and do not receive overtime pay, plaintiff’s counsel claims that Branch Service Managers perform non-exempt duties, should therefore be classified as non-exempt hourly employees and should have been paid overtime for any time worked in excess of 40 hours per week. The Federal Magistrate granted conditional certification for the class and collective action in late 2017. In October 2018, following mediation, Valley and Plaintiffs agreed to a settlement in principal for a total payment by Valley of $1.5 million . The settlement was subsequently approved by the court in February 2019. Derivative Instruments and Hedging Activities Valley is exposed to certain risks arising from both its business operations and economic conditions. Valley principally manages its exposure to a wide variety of business and operational risks through management of its core business activities. Valley manages economic risks, including interest rate and liquidity risks, primarily by managing the amount, sources, and duration of its assets and liabilities and, from time to time, the use of derivative financial instruments. Specifically, Valley enters into derivative financial instruments to manage exposures that arise from business activities that result in the payment of future known and uncertain cash amounts, the value of which are determined by interest rates. Valley’s derivative financial instruments are used to manage differences in the amount, timing, and duration of Valley’s known or expected cash receipts and its known or expected cash payments related to assets and liabilities as outlined below. Cash Flow Hedges of Interest Rate Risk. Valley’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, Valley uses interest rate swaps and caps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the payment of either fixed or variable-rate amounts in exchange for the receipt of variable or fixed-rate amounts from a counterparty. Interest rate caps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty if interest rates rise above the strike rate on the contract in exchange for an up-front premium. At December 31, 2018 , Valley had the following cash flow hedge derivatives: • Two forward starting interest rate swaps, each with a notional amount of $75 million , to hedge the changes in cash flows associated with certain brokered money market deposits. Starting in November 2015 , the interest rate swaps required Valley to pay fixed-rate amounts of approximately 2.72 percent and 2.97 percent , in exchange for the receipt of variable-rate payments at the three-month LIBOR rate. The two swaps have expiration dates of November 2019 and November 2020 . • Four forward starting interest rate swaps with a total notional amount of $182 million to hedge the changes in cash flows associated with borrowed funds. Starting in March and April 2016, the interest rate swaps required Valley to pay fixed-rate amounts ranging from approximately 2.51 percent to 2.88 percent , in exchange for the receipt of variable-rate payments at the three-month LIBOR rate. The four swaps have expiration dates ranging from March 2019 to September 2020. 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. One interest rate swap with an amount of $150 million used to hedge the changes in cash flows associated with certain brokered money market deposits, matured in November 2018. Fair Value Hedges of Fixed Rate Assets and Liabilities. Valley is exposed to changes in the fair value of certain of its fixed rate assets or liabilities due to changes in benchmark interest rates based on one-month LIBOR. From time to time, Valley uses interest rate swaps to manage its exposure to changes in fair value. Interest rate swaps designated as fair value hedges involve the receipt of variable rate payments from a counterparty in exchange for Valley making fixed rate payments over the life of the agreements without the exchange of the underlying notional amount. For derivatives that are designated and qualify as fair value hedges, the gain or loss on the derivative as well as the loss or gain on the hedged item attributable to the hedged risk are recognized in earnings. Valley includes the gain or loss on the hedged items in the same income statement line item as the loss or gain on the related derivatives. At December 31, 2018 , Valley had one interest rate swap with a notional amount of approximately $7.5 million used to hedge the change in the fair value of a commercial loan. Non-designated Hedges. Derivatives not designated as hedges may be used to manage Valley’s exposure to interest rate movements or to provide service to customers but do not meet the requirements for hedge accounting under U.S. GAAP. Derivatives not designated as hedges are not entered into for speculative purposes. Under a program, Valley executes interest rate swaps with commercial lending customers to facilitate their respective risk management strategies. These interest rate swaps with customers are simultaneously offset by interest rate swaps that Valley executes with a third party, such that Valley minimizes its net risk exposure resulting from such transactions. As the interest rate swaps associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings. 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 December 31, 2018 , Valley had 18 credit swaps with an aggregate notional amount of $109.4 million related to risk participation agreements. At December 31, 2018 , Valley had 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. 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 three-month LIBOR rate and therefore provide an effective economic hedge. Valley regularly enters into mortgage banking derivatives which are non-designated hedges. These derivatives include interest rate lock commitments provided to customers to fund certain residential mortgage loans to be sold into the secondary market and forward commitments for the future delivery of such loans. Valley enters into forward commitments for the future delivery of residential mortgage loans when interest rate lock commitments are entered into in order to economically hedge the effect of future changes in interest rates on Valley’s commitments to fund the loans as well as on its portfolio of mortgage loans held for sale. Amounts included in the consolidated statements of financial condition related to the fair value of Valley’s derivative financial instruments were as follows: December 31, 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 caps and swaps $ — $ 27 $ 332,000 $ 650 $ 81 $ 607,000 Fair value hedge interest rate swaps — 347 7,536 — 637 7,775 Total derivatives designated as hedging instruments $ — $ 374 $ 339,536 $ 650 $ 718 $ 614,775 Derivatives not designated as hedging instruments: Interest rate swaps, and embedded and credit derivatives $ 48,642 $ 22,533 $ 3,390,578 $ 25,696 $ 23,494 $ 1,687,005 Mortgage banking derivatives 337 774 105,247 71 118 113,233 Total derivatives not designated as hedging instruments $ 48,979 $ 23,307 $ 3,495,825 $ 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 assets, and designated and non-designated interest rate swaps liabilities were offset by variation margins posted by (with) the applicable counterparties and reported in the table above on a net basis at December 31, 2018 . Gains (losses) included in the consolidated statements of income and in other comprehensive income (loss), on a pre-tax basis, related to interest rate derivatives designated as hedges of cash flows were as follows: 2018 2017 2016 (in thousands) Amount of loss reclassified from accumulated other comprehensive loss to interest expense $ (3,493 ) $ (8,579 ) $ (13,034 ) Amount of gain (loss) recognized in other comprehensive income 2,651 1,005 (4,035 ) The net gains or losses related to cash flow hedge ineffectiveness were immaterial during the years ended December 31, 2018 , 2017 and 2016 . The accumulated net after-tax losses related to effective cash flow hedges included in accumulated other comprehensive loss were $4.0 million and $8.3 million at December 31, 2018 and 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 $1.3 million will be reclassified as an increase to interest expense in 2019 . Gains (losses) included in the consolidated statements of income related to interest rate derivatives designated as hedges of fair value were as follows: 2018 2017 2016 (in thousands) Derivative—interest rate swaps: Interest income $ 290 $ 348 $ 320 Interest expense — — 6,670 Hedged item—loans, deposits and long-term borrowings: Interest income $ (290 ) $ (348 ) $ (320 ) Interest expense — — (6,645 ) Fee income related to derivative interest rate swaps executed with commercial loan customers totaled $16.4 million , $8.3 million and $5.0 million for the years ended December 31, 2018 , 2017 and 2016 , respectively. 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 December 31, 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 2018 2017 2018 2017 (in thousands) Loans $ 7,882 $ 8,412 $ 346 $ 637 Net (losses) gains included in the consolidated statements of income related to derivative instruments not designated as hedging instruments were as follows: 2018 2017 2016 (in thousands) Non-designated hedge interest rate and credit derivatives Other non-interest expense $ (792 ) $ (744 ) $ 690 Collateral Requirements and Credit Risk Related Contingency Features. By using derivatives, Valley is exposed to credit risk if counterparties to the derivative contracts do not perform as expected. Management attempts to minimize counterparty credit risk through credit approvals, limits, monitoring procedures and obtaining collateral where appropriate. Credit risk exposure associated with derivative contracts is managed at Valley in conjunction with Valley’s consolidated counterparty risk management process. Valley’s counterparties and the risk limits monitored by management are periodically reviewed and approved by the Board of Directors. Valley has agreements with its derivative counterparties providing that if Valley defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then Valley could also be declared in default on its derivative counterparty agreements. Additionally, Valley has an agreement with several of its derivative counterparties that contains provisions that require Valley’s debt to maintain an investment grade credit rating from each of the major credit rating agencies from which it receives a credit rating. If Valley’s credit rating is reduced below investment grade, or such rating is withdrawn or suspended, then the counterparty could terminate the derivative positions and Valley would be required to settle its obligations under the agreements. As of December 31, 2018 , Valley was in compliance with all of the provisions of its derivative counterparty agreements. As of December 31, 2018 , the fair value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $2.2 million . Valley has derivative counterparty agreements that require minimum collateral posting thresholds for certain counterparties.

Balance Sheet Offsetting

Balance Sheet Offsetting	12 Months Ended
	Dec. 31, 2018
Offsetting [Abstract]
Balance Sheet Offsetting	BALANCE SHEET OFFSETTING (Note 16) Certain financial instruments, including derivatives (consisting of interest rate caps and swaps) and repurchase agreements (accounted for as secured long-term borrowings), may be eligible for offset in the consolidated balance sheet and/or subject to master netting arrangements or similar agreements. Valley is party to master netting arrangements with its financial institution counterparties; however, Valley does not offset assets and liabilities under these arrangements for financial statement presentation purposes. The master netting arrangements provide for a single net settlement of all swap agreements, as well as collateral, in the event of default on, or termination of, any one contract. Collateral, usually in the form of cash or marketable investment securities, is posted by the counterparty with net liability positions in accordance with contract thresholds. Master repurchase agreements which include “right of set-off” provisions generally have a legally enforceable right to offset recognized amounts. In such cases, the collateral would be used to settle the fair value of the repurchase agreement should Valley be in default. The table below presents information about Valley’s financial instruments that are eligible for offset in the consolidated statements of financial condition as of December 31, 2018 and 2017 . Gross Amounts Not Offset Gross Amounts Recognized Gross Amounts Offset Net Amounts Presented Financial Instruments Cash Collateral Net Amount (in thousands) December 31, 2018 Assets: Interest rate caps and swaps $ 48,642 $ — $ 48,642 $ (1,214 ) $ — $ 47,428 Liabilities: Interest rate caps and swaps $ 22,907 $ — $ 22,907 $ (1,214 ) $ (1,852 ) $ 19,841 Repurchase agreements 150,000 — 150,000 — (150,000 ) * — Total $ 172,907 $ — $ 172,907 $ (1,214 ) $ (151,852 ) $ 19,841 December 31, 2017 Assets: Interest rate caps and swaps $ 26,346 $ — $ 26,346 $ (5,376 ) $ — $ 20,970 Liabilities: Interest rate caps and swaps $ 24,212 $ — $ 24,212 $ (5,376 ) $ (8,141 ) $ 10,695 Repurchase agreements 200,000 — 200,000 — (200,000 ) * — Total $ 224,212 $ — $ 224,212 $ (5,376 ) $ (208,141 ) $ 10,695 * Represents the fair value of non-cash pledged investment securities.

Regulatory and Capital Requirem

Regulatory and Capital Requirements	12 Months Ended
	Dec. 31, 2018
Banking and Thrift [Abstract]
Regulatory and Capital Requirements	REGULATORY AND CAPITAL REQUIREMENTS (Note 17) Valley’s primary source of cash is dividends from the Bank. Valley National Bank, a national banking association, is subject to certain restrictions on the amount of dividends that it may declare without prior regulatory approval. In addition, the dividends declared cannot be in excess of the amount which would cause the subsidiary bank to fall below the minimum required for capital adequacy purposes. Valley and Valley National Bank are subject to the regulatory capital requirements administered by the Federal Reserve Bank and the OCC. Failure to meet minimum capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a direct significant impact on Valley’s consolidated financial statements. Under capital adequacy guidelines Valley and Valley National Bank must meet specific capital guidelines that involve quantitative measures of Valley’s assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Quantitative measures established by regulation to ensure capital adequacy require Valley and Valley National Bank to maintain minimum amounts and ratios of common equity Tier 1 capital, total and Tier 1 capital to risk-weighted assets, and Tier 1 capital to average assets, as defined in the regulations. Effective January 1, 2015, Valley implemented the Basel III regulatory capital framework and related Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”). Basel III final rules require a new common equity Tier 1 capital to risk-weighted assets ratio of 4.5 percent , Tier 1 capital to risk-weighted assets of 6.0 percent , ratio of total capital to risk-weighted assets of 8.0 percent , and minimum leverage ratio of 4.0 percent . The new rule includes a capital conservation buffer that is added to the minimum requirements for capital adequacy purposes. The capital conservation buffer was subject to a three-year phase-in period that started on January 1, 2016, at 0.625 percent of risk-weighted assets and increased each subsequent year by 0.625 percent until reaching its final level of 2.5 percent when fully phased-in on January 1, 2019. As of December 31, 2018 and 2017 , Valley and Valley National Bank exceeded all capital adequacy requirements with the capital conservation buffer required to be phased in at these dates under the Basel III Capital Rules (see table below). The following table presents Valley’s and Valley National Bank’s actual capital positions and ratios under the Basel III risk-based capital guidelines at December 31, 2018 and 2017 : Actual Minimum Capital Requirements To Be Well Capitalized Under Prompt Corrective Action Provision Amount Ratio Amount Ratio Amount Ratio ($ in thousands) As of December 31, 2018 Total Risk-based Capital Valley $ 2,786,971 11.34 % $ 2,426,975 9.875 % N/A N/A Valley National Bank 2,698,654 10.99 2,424,059 9.875 $ 2,454,743 10.00 % Common Equity Tier 1 Capital Valley 2,071,871 8.43 1,566,781 6.375 N/A N/A Valley National Bank 2,442,359 9.95 1,564,899 6.375 1,595,583 6.50 Tier 1 Risk-based Capital Valley 2,286,676 9.30 1,935,435 7.875 N/A N/A Valley National Bank 2,442,359 9.95 1,933,110 7.875 1,963,794 8.00 Tier 1 Leverage Capital Valley 2,286,676 7.57 1,208,882 4.00 N/A N/A Valley National Bank 2,442,359 8.09 1,207,039 4.00 1,508,798 5.00 As of December 31, 2017 Total Risk-based Capital Valley $ 2,258,044 12.61 % $ 1,656,575 9.250 % N/A N/A Valley National Bank 2,185,967 12.23 1,653,088 9.250 $ 1,787,122 10.00 % Common Equity Tier 1 Capital Valley 1,651,849 9.22 1,029,763 5.750 N/A N/A Valley National Bank 1,961,316 10.97 1,027,595 5.750 1,161,629 6.50 Tier 1 Risk-based Capital Valley 1,864,279 10.41 1,298,397 7.250 N/A N/A Valley National Bank 1,961,316 10.97 1,295,663 7.250 1,429,698 8.00 Tier 1 Leverage Capital Valley 1,864,279 8.03 928,484 4.00 N/A N/A Valley National Bank 1,961,316 8.47 926,459 4.00 1,158,074 5.00

Common and Preferred Stock

Common and Preferred Stock	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Common and Preferred Stock	COMMON AND PREFERRED STOCK (Note 18) Common Stock Common Stock Issuance. In December 2016, Valley issued and sold 9.24 million shares of its common stock in a registered public offering. The net proceeds of the offering totaled $106.4 million and were used to, among other things, support loan growth at the Bank during 2017. Valley also issues shares in business combinations and shares related to stock awards under the 2016 Plan. See Notes 2 and 12 for further details. Dividend Reinvestment Plan. As part of Valley's dividend reinvestment plan (DRIP), Valley may issue authorized and previously unissued or treasury shares of Valley common stock for purchases. Under the DRIP, a shareholder may choose to have future cash dividends automatically invested in Valley common stock and make voluntary optional cash payments of up to $100 thousand per quarter to purchase shares of Valley common stock. Shares purchased under this plan were issued directly from Valley. During 2018 , 2017 and 2016 , 87 thousand , 713 thousand , and 554 thousand common shares, respectively, were reissued from treasury stock or issued from authorized common shares under the DRIP for net proceeds totaling $1.0 million , $8.2 million and $5.2 million , respectively. The aspect of the DRIP allowing Valley to issue shares was terminated effective February 12, 2018. Valley's transfer agent maintains a DRIP with shares purchased in the open market. Common Stock Warrants. On January 1, 2012, Valley assumed in the acquisition of State Bancorp, Inc. a warrant issued (in connection with State Bancorp's redeemed preferred stock issuance) to the U.S. Treasury in December 2008. The ten -year warrant to purchase up to 489 thousand of Valley common shares has an exercise price of $11.30 per share and is exercisable on a net exercise basis. During May 2015, the U.S. Treasury sold the warrant shares individually through a public action, in which Valley did not receive any of the proceeds. All of the warrants expired unexercised on December 5, 2018. In connection with the issuance of senior preferred shares in 2008 under the TARP program, Valley issued to the U.S. Treasury a ten -year warrant to purchase up to approximately 2.5 million of Valley common shares. During 2010, the U.S. Treasury sold the warrant shares individually through a public auction, in which Valley did not receive any of the proceeds. Each warrant entitled the holder to purchase approximately 1.103 Valley common shares at $16.12 per share. All of the warrants expired unexercised on November 14, 2018. Repurchase Plan. In 2007, Valley’s Board of Directors approved the repurchase of up to $4.7 million of common shares. Purchases of Valley’s common shares may be made from time to time in the open market or in privately negotiated transactions generally not exceeding prevailing market prices. Repurchased shares are held in treasury and are expected to be used for general corporate purposes. Under the repurchase plan, Valley made no purchases of its outstanding shares during the years ended December 31, 2018 , 2017 and 2016 . Other Stock Repurchases. Valley also purchases shares directly from its employees in connection with employee elections to withhold taxes related to the vesting of stock awards. During the years ended December 31, 2018 , 2017 and 2016 , Valley purchased approximately 441 thousand , 218 thousand and 328 thousand shares, respectively, of its outstanding common stock at an average price of $11.83 , $12.12 and $9.73 , respectively, for such purpose. Preferred Stock Series A Issuance. On June 19, 2015, Valley issued 4.6 million shares of its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A, no par value per share, with a liquidation preference of $25 per share. Dividends on the preferred stock accrue and are payable quarterly in arrears, at a fixed rate per annum equal to 6.25 percent from the original issue date to, but excluding, June 30, 2025, and thereafter at a floating rate per annum equal to three-month LIBOR plus a spread of 3.85 percent . The net proceeds from the preferred stock offering totaled $111.6 million . Commencing June 30, 2025, Valley may redeem the preferred shares at the liquidation preference plus accrued and unpaid dividends, subject to certain conditions. Series B Issuance. On August 3, 2017, Valley issued 4.0 million shares of its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B, no par value per share, with a liquidation preference of $25 per share. Dividends on the preferred stock will accrue and be payable quarterly in arrears, at a fixed rate per annum equal to 5.50 percent from the original issuance date to, but excluding, September 30, 2022, and thereafter at a floating rate per annum equal to three-month LIBOR plus a spread of 3.578 percent . The net proceeds from the preferred stock offering totaled $98.1 million . Commencing September 30, 2022, Valley may redeem the preferred shares at the liquidation preference plus accrued and unpaid dividends, subject to certain conditions. Preferred stock is included in Valley's Additional Tier 1 capital and total risk-based capital at December 31, 2018 and 2017 .

Other Comprehensive Income

Other Comprehensive Income	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Other Comprehensive Income	OTHER COMPREHENSIVE INCOME (Note 19) The following table presents the tax effects allocated to each component of other comprehensive income (loss) for the years ended December 31, 2018 , 2017 and 2016 . Components of other comprehensive income (loss) include changes in net unrealized gains and losses on securities available for sale (including the non-credit portion of other-than-temporary impairment charges relating to certain securities during the period); unrealized gains and losses on derivatives used in cash flow hedging relationships; and the pension benefit adjustment for the unfunded portion of various employee, officer and director pension plans. 2018 2017 2016 Before Tax Tax Effect After Tax Before Tax Tax Effect After Tax Before Tax Tax Effect After Tax (in thousands) Unrealized gains and losses on available for sale (AFS) securities Net (losses) gains arising during the period $ (32,123 ) $ 9,191 $ (22,932 ) $ 636 $ (284 ) $ 352 $ (7,294 ) $ 3,001 $ (4,293 ) Less reclassification adjustment for net losses (gains) included in net income (1) 2,342 (485 ) 1,857 20 (9 ) 11 (777 ) 312 (465 ) Net change (29,781 ) 8,706 (21,075 ) 656 (293 ) 363 (8,071 ) 3,313 (4,758 ) Non-credit impairment losses on securities available for sale and held to maturity Net change in non-credit impairment losses on securities — — — 849 (351 ) 498 719 (302 ) 417 Less reclassification adjustment for accretion of credit impairment losses included in net income (2) 531 (151 ) 380 (284 ) 117 (167 ) (921 ) 382 (539 ) Net change 531 (151 ) 380 565 (234 ) 331 (202 ) 80 (122 ) Unrealized gains and losses on derivatives (cash flow hedges) Net gains (losses) arising during the period 2,651 (777 ) 1,874 1,005 (429 ) 576 (4,035 ) 1,574 (2,461 ) Less reclassification adjustment for net losses included in net income (3) 3,493 (999 ) 2,494 8,579 (3,551 ) 5,028 13,034 (5,393 ) 7,641 Net change 6,144 (1,776 ) 4,368 9,584 (3,980 ) 5,604 8,999 (3,819 ) 5,180 Defined benefit pension plan Net (losses) gains arising during the period (9,916 ) 2,765 (7,151 ) (3,843 ) 1,121 (2,722 ) 5,837 (2,539 ) 3,298 Amortization of prior service credit (cost) (4) 212 (66 ) 146 268 (77 ) 191 (300 ) 119 (181 ) Amortization of net loss (4) 625 (178 ) 447 381 (133 ) 248 294 (109 ) 185 Net change (9,079 ) 2,521 (6,558 ) (3,194 ) 911 (2,283 ) 5,831 (2,529 ) 3,302 Total other comprehensive (loss) income $ (32,185 ) $ 9,300 $ (22,885 ) $ 7,611 $ (3,596 ) $ 4,015 $ 6,557 $ (2,955 ) $ 3,602 (1) Included in (losses) gains on securities transactions, net. (2) Included in interest and dividends on investment securities (taxable). (3) Included in interest expense. (4) Included in the computation of net periodic pension cost. See Note 12 for details. The following table presents the after-tax changes in the balances of each component of accumulated other comprehensive loss for the years ended December 31, 2018 , 2017 and 2016 : Components of Accumulated Other Comprehensive Loss Total Accumulated Other Comprehensive Loss Unrealized Gains and Losses on AFS Securities Non-credit Impairment Losses on Securities Unrealized Gains and Losses on Derivatives Defined Benefit Pension Plan (in thousands) Balance-December 31, 2015 $ (5,336 ) $ (520 ) $ (17,644 ) $ (22,195 ) $ (45,695 ) Other comprehensive (loss) income before reclassifications (4,293 ) 417 (2,461 ) 3,298 (3,039 ) Amounts reclassified from other comprehensive (loss) income (465 ) (539 ) 7,641 4 6,641 Other comprehensive (loss) income, net (4,758 ) (122 ) 5,180 3,302 3,602 Balance-December 31, 2016 (10,094 ) (642 ) (12,464 ) (18,893 ) (42,093 ) Other comprehensive income (loss) before reclassifications 352 498 576 (2,722 ) (1,296 ) Amounts reclassified from other comprehensive income (loss) 11 (167 ) 5,028 439 5,311 Other comprehensive income (loss), net 363 331 5,604 (2,283 ) 4,015 Reclassification due to the adoption of ASU No. 2018-02 (2,273 ) (69 ) (1,478 ) (4,107 ) (7,927 ) Balance-December 31, 2017 (12,004 ) (380 ) (8,338 ) (25,283 ) (46,005 ) 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-January 1, 2018 (12,484 ) (380 ) (8,399 ) (25,283 ) (46,546 ) Other comprehensive (loss) income before reclassifications (22,932 ) — 1,874 (7,151 ) (28,209 ) Amounts reclassified from other comprehensive (loss) income 1,857 380 2,494 593 5,324 Other comprehensive (loss) income, net (21,075 ) 380 4,368 (6,558 ) (22,885 ) Balance-December 31, 2018 $ (33,559 ) $ — $ (4,031 ) $ (31,841 ) $ (69,431 )

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Data (Unaudited)	QUARTERLY FINANCIAL DATA (UNAUDITED) (Note 20) Quarters Ended 2018 March 31 June 30 September 30 December 31 (in thousands, except for share data) Interest income $ 267,495 $ 280,118 $ 297,041 $ 314,594 Interest expense 59,897 69,366 80,241 92,541 Net interest income 207,598 210,752 216,800 222,053 Provision for credit losses 10,948 7,142 6,552 7,859 Non-interest income: Gains on sales of loans, net 6,753 7,642 3,748 2,372 Other non-interest income 25,498 30,427 25,290 32,322 Non-interest expense: Amortization of tax credit investments 5,274 4,470 5,412 9,044 Other non-interest expense 168,478 145,446 146,269 144,668 Income before income taxes 55,149 91,763 87,605 95,176 Income tax expense 13,184 18,961 18,046 18,074 Net income 41,965 72,802 69,559 77,102 Dividend on preferred stock 3,172 3,172 3,172 3,172 Net income available to common shareholders 38,793 69,630 66,387 73,930 Earnings per common share: Basic $ 0.12 $ 0.21 $ 0.20 $ 0.22 Diluted 0.12 0.21 0.20 0.22 Cash dividends declared per common share 0.11 0.11 0.11 0.11 Weighted average number of common shares outstanding: Basic 330,727,416 331,318,381 331,486,500 331,492,648 Diluted 332,465,527 332,895,483 333,000,242 332,856,385 Quarters Ended 2017 March 31 June 30 September 30 December 31 (in thousands, except for share data) Interest income $ 198,455 $ 207,007 $ 210,741 $ 217,951 Interest expense 36,587 42,187 46,796 48,537 Net interest income 161,868 164,820 163,945 169,414 Provision for credit losses 2,470 3,632 1,640 2,200 Non-interest income: Gains on sales of loans, net 4,128 4,791 5,520 6,375 Other non-interest income 21,592 24,039 21,477 23,784 Non-interest expense: Amortization of tax credit investments 5,324 7,732 8,389 20,302 Other non-interest expense 115,628 111,507 124,176 116,015 Income before income taxes 64,166 70,779 56,737 61,056 Income tax expense 18,071 20,714 17,088 34,958 Net income 46,095 50,065 39,649 26,098 Dividend on preferred stock 1,797 1,797 2,683 3,172 Net income available to common shareholders 44,298 48,268 36,966 22,926 Earnings per common share: Basic $ 0.17 $ 0.18 $ 0.14 $ 0.09 Diluted 0.17 0.18 0.14 0.09 Cash dividends declared per common share 0.11 0.11 0.11 0.11 Weighted average number of common shares outstanding: Basic 263,797,024 263,958,292 264,058,174 264,332,895 Diluted 264,546,266 264,778,242 264,936,220 265,288,067

Parent Company Information

Parent Company Information	12 Months Ended
	Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]
Parent Company Information	PARENT COMPANY INFORMATION (Note 21) Condensed Statements of Financial Condition December 31, 2018 2017 (in thousands) Assets Cash $ 109,839 $ 90,807 Investment securities available for sale — 254 Investments in and receivables due from subsidiaries 3,609,836 2,738,700 Other assets 32,721 36,277 Total Assets $ 3,752,396 $ 2,866,038 Liabilities and Shareholders’ Equity Dividends payable to shareholders $ 37,644 $ 33,100 Long-term borrowings 294,602 235,153 Junior subordinated debentures issued to capital trusts 55,370 41,774 Accrued expenses and other liabilities 14,326 22,846 Shareholders’ equity 3,350,454 2,533,165 Total Liabilities and Shareholders’ Equity $ 3,752,396 $ 2,866,038 Condensed Statements of Income Years Ended December 31, 2018 2017 2016 (in thousands) Income Dividends from subsidiary $ 155,000 $ 122,000 $ 90,000 Income from subsidiary 4,550 4,550 4,550 Gains on securities transactions, net 3 — 239 Losses on sales of assets, net (147 ) — — Other interest and income 39 135 34 Total Income 159,445 126,685 94,823 Total Expenses 32,269 39,621 33,604 Income before income tax and equity in undistributed earnings of subsidiary 127,176 87,064 61,219 Income tax benefit (20,547 ) (30,179 ) (23,349 ) Income before equity in undistributed earnings of subsidiary 147,723 117,243 84,568 Equity in undistributed earnings of subsidiary 113,705 44,664 83,578 Net Income 261,428 161,907 168,146 Dividends on preferred stock 12,688 9,449 7,188 Net Income Available to Common Shareholders $ 248,740 $ 152,458 $ 160,958 Condensed Statements of Cash Flows Years Ended December 31, 2018 2017 2016 (in thousands) Cash flows from operating activities: Net Income $ 261,428 $ 161,907 $ 168,146 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed earnings of subsidiary (113,705 ) (44,664 ) (83,578 ) Stock-based compensation 19,472 12,204 10,032 Net amortization of premiums and accretion of discounts on borrowings 63 197 163 Gains on securities transactions, net (3 ) — (239 ) Losses on sales of assets, net 147 — — Net change in: Other assets 9,928 (89 ) 8,007 Accrued expenses and other liabilities (10,657 ) 8,737 18,381 Net cash provided by operating activities 166,673 138,292 120,912 Cash flows from investing activities: Investment securities available for sale: Sales 257 — 739 Cash and cash equivalents acquired in acquisitions 7,915 — — Capital contributions to subsidiary — (98,000 ) (106,000 ) Net cash provided by (used in) investing activities 8,172 (98,000 ) (105,261 ) Cash flows from financing activities: Proceeds from issuance of preferred stock, net — 98,101 — Dividends paid to preferred shareholders (15,859 ) (6,277 ) (7,188 ) Dividends paid to common shareholders (138,857 ) (115,881 ) (111,813 ) Purchase of common shares to treasury (3,801 ) (2,644 ) (3,191 ) Common stock issued, net 2,704 8,207 112,085 Net cash used in financing activities (155,813 ) (18,494 ) (10,107 ) Net change in cash and cash equivalents 19,032 21,798 5,544 Cash and cash equivalents at beginning of year 90,807 69,009 63,465 Cash and cash equivalents at end of year $ 109,839 $ 90,807 $ 69,009

Business Segments

Business Segments	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Business Segments	BUSINESS SEGMENTS (Note 22) Valley has four business segments that it monitors and reports on to manage Valley’s business operations. These segments are consumer lending, commercial lending, investment management, and corporate and other adjustments. Valley’s reportable segments have been determined based upon its internal structure of operations and lines of business. Each business segment is reviewed routinely for its asset growth, contribution to income before income taxes and return on average interest earning assets and impairment (if events or circumstances indicate a possible inability to realize the carrying amount). Expenses related to the branch network, all other components of retail banking, along with the back office departments of our subsidiary bank are allocated from the corporate and other adjustments segment to each of the other three business segments. Interest expense and internal transfer expense (for general corporate expenses) are allocated to each business segment utilizing a “pool funding” methodology, which involves the allocation of uniform funding cost based on each segments’ average earning assets outstanding for the period. The financial reporting for each segment contains allocations and reporting in line with Valley’s operations, which may not necessarily be comparable to any other financial institution. The accounting for each segment includes internal accounting policies designed to measure consistent and reasonable financial reporting, and may result in income and expense measurements that differ from amounts under U.S. GAAP. Furthermore, changes in management structure or allocation methodologies and procedures may result in changes in reported segment financial data. The consumer lending segment is mainly comprised of residential mortgages and automobile loans, and to a lesser extent, secured personal lines of credit, home equity loans and other consumer loans. The duration of the residential mortgage loan portfolio is subject to movements in the market level of interest rates and forecasted prepayment speeds. The average weighted life of the automobile loans within the portfolio is relatively unaffected by movements in the market level of interest rates. However, the average life may be impacted by new loans as a result of the availability of credit within the automobile marketplace and consumer demand for purchasing new or used automobiles. The consumer lending segment also includes the Wealth Management Division, comprised of trust, asset management and insurance services. The commercial lending segment is mainly comprised of floating rate and adjustable rate commercial and industrial loans and construction loans, as well as fixed rate owner occupied and commercial real estate loans. Due to the portfolio’s interest rate characteristics, commercial lending is Valley’s business segment that is most sensitive to movements in market interest rates. The investment management segment generates a large portion of Valley’s income through investments in various types of securities and interest-bearing deposits with other banks. These investments are mainly comprised of fixed rate securities and depending on Valley's liquid cash position, interest-bearing deposits with banks (primarily the Federal Reserve Bank of New York), as part of its asset/liability management strategies. The fixed rate investments are among Valley’s assets that are least sensitive to changes in market interest rates. However, a portion of the investment portfolio is invested in shorter-duration securities to maintain the overall asset sensitivity of Valley’s balance sheet. The amounts disclosed as “corporate and other adjustments” represent income and expense items not directly attributable to a specific segment, including net gains and losses on securities not reported in the investment management segment above, interest expense related to subordinated notes, as well as income and expen se from derivative financial instruments. The following tables represent the financial data for Valley’s four business segments for the years ended December 31, 2018 , 2017 and 2016 : Year Ended December 31, 2018 Consumer Lending Commercial Lending Investment Management Corporate and Other Adjustments Total ($ in thousands) Average interest earning assets (unaudited) $ 6,197,161 $ 17,143,169 $ 4,362,581 $ — $ 27,702,911 Interest income $ 235,264 $ 798,974 $ 130,971 $ (5,961 ) $ 1,159,248 Interest expense 64,083 177,273 45,112 15,577 302,045 Net interest income (loss) 171,181 621,701 85,859 (21,538 ) 857,203 Provision for credit losses 5,550 26,951 — — 32,501 Net interest income (loss) after provision for credit losses 165,631 594,750 85,859 (21,538 ) 824,702 Non-interest income 61,280 22,275 8,691 41,806 134,052 Non-interest expense 92,462 95,171 1,251 440,177 629,061 Internal expense transfer 77,164 213,399 54,353 (344,916 ) — Income (loss) before income taxes $ 57,285 $ 308,455 $ 38,946 $ (74,993 ) $ 329,693 Return on average interest earning assets (pre-tax) (unaudited) 0.92 % 1.80 % 0.89 % N/A 1.19 % Year Ended December 31, 2017 Consumer Lending Commercial Lending Investment Management Corporate and Other Adjustments Total ($ in thousands) Average interest earning assets (unaudited) $ 5,166,171 $ 12,652,832 $ 3,669,495 $ — $ 21,488,498 Interest income $ 182,508 $ 552,297 $ 107,972 $ (8,623 ) $ 834,154 Interest expense 39,018 95,562 27,714 11,813 174,107 Net interest income (loss) 143,490 456,735 80,258 (20,436 ) 660,047 Provision for credit losses 3,197 6,745 — — 9,942 Net interest income (loss) after provision for credit losses 140,293 449,990 80,258 (20,436 ) 650,105 Non-interest income 63,375 11,414 7,745 29,172 111,706 Non-interest expense 72,207 71,216 1,193 364,457 509,073 Internal expense transfer 68,007 166,847 48,393 (283,247 ) — Income (loss) before income taxes $ 63,454 $ 223,341 $ 38,417 $ (72,474 ) $ 252,738 Return on average interest earning assets (pre-tax) (unaudited) 1.23 % 1.77 % 1.05 % N/A 1.18 % Year Ended December 31, 2016 Consumer Lending Commercial Lending Investment Management Corporate and Other Adjustments Total ($ in thousands) Average interest earning assets (unaudited) $ 5,081,798 $ 11,318,947 $ 3,428,567 $ — $ 19,829,312 Interest income $ 176,929 $ 504,341 $ 89,378 $ (8,760 ) $ 761,888 Interest expense 35,175 78,347 23,732 11,520 148,774 Net interest income (loss) 141,754 425,994 65,646 (20,280 ) 613,114 Provision for credit losses 905 10,964 — — 11,869 Net interest income (loss) after provision for credit losses 140,849 415,030 65,646 (20,280 ) 601,245 Non-interest income 63,443 8,327 6,694 29,796 108,260 Non-interest expense 62,721 70,145 1,281 341,978 476,125 Internal expense transfer 71,578 160,198 48,475 (280,251 ) — Income (loss) before income taxes $ 69,993 $ 193,014 $ 22,584 $ (52,211 ) $ 233,380 Return on average interest earning assets (pre-tax) (unaudited) 1.38 % 1.71 % 0.66 % N/A 1.18 %

Subsequent Event

Subsequent Event	12 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS (Note 23) During February 2019, Valley announced that the Bank entered into an agreement for the sale-leaseback of 29 of its currently owned properties. The properties, consist of 1 corporate location and 28 branches. Valley expects to realize a material pre-tax gain net of transaction related expenses. The transaction is expected to close in the first or second quarter of 2019 and is subject to change or termination due to buyer due diligence on the identified properties. Valley has previously invested in mobile solar generators sold and managed by DC Solar, which were included in other assets on the balance sheet and the tax credit investments in Note 14. For reasons that were not known to Valley, DC Solar had its assets frozen in December 2018. DC Solar filed for Chapter 11 bankruptcy protection in February 2019. In February 2019, an affidavit from a Federal Bureau of Investigation (FBI) special agent stated that DC Solar was operating a fraudulent "Ponzi-like scheme" and that the majority of mobile solar generators sold to investors and managed by DC Solar and the majority of the related lease revenues claimed to have been received by DC Solar may not have existed. Certain investors in DC Solar, including Valley, received tax credits for making these renewable resource investments. Valley has claimed tax credit benefits of approximately $22.8 million in the consolidated financial statements between 2013 through 2015. If the allegations set forth in the declaration filed by the FBI are proven to be accurate, up to the entire amount of the tax credits claimed by Valley could potentially be disallowed. Based on the information known as of the date of this Annual Report on the Form 10-K, Valley believes that this has not met the more-likely-than-not criterion to record an uncertain tax position liability. As a result of the information in the FBI declaration, Valley is evaluating whether or not an unrecognized tax liability exists under ASC 740 for an uncertain tax position in 2019 for at least part, if not potentially all, of the tax credit benefits Valley has claimed.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Business	Business Valley National Bancorp, a New Jersey Corporation (Valley), is a bank holding company whose principal wholly-owned subsidiary is Valley National Bank (the “Bank”), a national banking association providing a full range of commercial, retail and trust and investment services largely through its offices and ATM network throughout northern and central New Jersey, the New York City boroughs of Manhattan, Brooklyn and Queens, Long Island, Florida and Alabama. The Bank is subject to intense competition from other financial services companies and is subject to the regulation of certain federal and state agencies and undergoes periodic examinations by certain regulatory authorities. Valley National Bank’s subsidiaries are all included in the consolidated financial statements of Valley. These subsidiaries include, but are not limited to: • an insurance agency offering property and casualty, life and health insurance; • an asset management adviser that is a registered investment adviser with Securities and Exchange Commission (SEC); • title insurance agencies in New York with services in New Jersey; • subsidiaries which hold, maintain and manage investment assets for the Bank; • a subsidiary which specializes in health care equipment lending and other commercial equipment leases; and • a subsidiary which owns and services New York commercial loans. The Bank’s subsidiaries also include real estate investment trust subsidiaries (the “REIT” subsidiaries) which own real estate related investments and a REIT subsidiary which owns some of the real estate utilized by the Bank and related real estate investments. Except for Valley’s REIT subsidiaries, all subsidiaries mentioned above are directly or indirectly wholly-owned by the Bank. Because each REIT subsidiary must have 100 or more shareholders to qualify as a REIT, each REIT subsidiary has issued less than 20 percent of its outstanding non-voting preferred stock to individuals, most of whom are non-senior management Bank employees. The Bank owns the remaining preferred stock and all the common stock of the REITs.
Basis of Presentation	Basis of Presentation The consolidated financial statements of Valley include the accounts of its commercial bank subsidiary, Valley National Bank and all of Valley’s direct or indirect wholly-owned subsidiaries. All inter-company transactions and balances have been eliminated. The accounting and reporting policies of Valley conform to U.S. generally accepted accounting principles (U.S. GAAP) and general practices within the financial services industry. In accordance with applicable accounting standards, Valley does not consolidate statutory trusts established for the sole purpose of issuing trust preferred securities and related trust common securities. See Note 11 for more details. Certain prior period amounts have been reclassified to conform to the current presentation. In preparing the consolidated financial statements in conformity with U.S. GAAP, management has made estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated statements of financial condition and results of operations for the periods indicated. Material estimates that are particularly susceptible to change are: the allowance for loan losses, purchased credit-impaired loans, the evaluation of goodwill and other intangible assets for impairment, and income taxes. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the consolidated financial statements in the period they are deemed necessary. While management uses its best judgment, actual amounts or results could differ significantly from those estimates. The current economic environment has increased the degree of uncertainty inherent in these material estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, interest bearing deposits in other banks (including the Federal Reserve Bank of New York) and, from time to time, overnight federal funds sold. The Bank is required to maintain reserve balances in cash or on deposit with the Federal Reserve Bank based on a percentage of deposits.
Investment Securities	Investment Securities Investment securities are classified at the time of purchase based on management’s intention, as securities held-to-maturity or securities available-for-sale. Investment securities classified as held-to-maturity are those that management has the positive intent and ability to hold until maturity. Investment securities held-to-maturity are carried at amortized cost, adjusted for amortization of premiums and accretion of discounts using the level-yield method over the contractual term of the securities, adjusted for actual prepayments, or to call date if the security was purchased at premium. Investment securities classified as available-for-sale are carried at fair value with unrealized holding gains and losses reported as a component of other comprehensive income or loss, net of tax. Realized gains or losses on the available-for-sale securities are recognized by the specific identification method and are included in net gains on securities transactions. Security transactions are recorded on a trade-date basis. Investments in Federal Home Loan Bank and Federal Reserve Bank stock, which have limited marketability, are carried at cost in other assets. Quarterly, Valley evaluates its investment securities classified as held to maturity and available for sale for other-than-temporary impairment. Valley's evaluation of other-than-temporary impairment considers factors that include, among others, the causes of the decline in fair value, such as credit problems, interest rate fluctuations, or market volatility; and the severity and duration of the decline. For debt securities, the primary consideration in determining whether impairment is other-than-temporary is whether or not it is probable that current and/or future contractual cash flows have been or may be impaired. Valley also assesses the intent and ability to hold the securities (as well as the likelihood of a near-term recovery), and the intent to sell the securities and whether it is more likely than not that we will be required to sell the securities before the recovery of their amortized cost basis. In assessing the level of other-than-temporary impairment attributable to credit loss, Valley compares the present value of cash flows expected to be collected with the amortized cost basis of the security. If a determination is made that a debt security is other-than-temporarily impaired, Valley will estimate the amount of the unrealized loss that is attributable to credit and all other non-credit related factors. The credit related component will be recognized as an other-than-temporary impairment charge in non-interest income. The non-credit related component will be recorded as an adjustment to accumulated other comprehensive income (loss), net of tax. When a debt security becomes other-than-temporarily impaired, its amortized cost basis is reduced to reflect the portion of the total impairment related to credit loss. There was no other-than-temporary impairment recognized in earnings as a result of Valley's impairment analysis of its securities during 2018 , 2017 and 2016 . See the “Other-Than-Temporary Impairment Analysis” section of Note 4 for further discussion. Interest income on investments includes amortization of purchase premiums and discounts. Valley discontinues the recognition of interest on debt securities if the securities meet both of the following criteria: (i) regularly scheduled interest payments have not been paid or have been deferred by the issuer, and (ii) full collection of all contractual principal and interest payments is not deemed to be the most likely outcome, resulting in the recognition of other-than-temporary impairment of the security.
Loans Held for Sale	Loans Held for Sale Loans held for sale generally consist of residential mortgage loans originated and intended for sale in the secondary market and are carried at their estimated fair value on an instrument-by-instrument basis as permitted by the fair value option election under U.S. GAAP. Changes in fair value are recognized in non-interest income in the accompanying consolidated statements of income as a component of net gains on sales of loans. Origination fees and costs related to loans originated for sale (and carried at fair value) are recognized as earned and as incurred. Loans held for sale are generally sold with loan servicing rights retained by Valley. Gains recognized on loan sales include the value assigned to the rights to service the loan. See “Loan Servicing Rights” section below.
Loans and Loan Fees	Loans and Loan Fees Loans are reported at their outstanding principal balance net of any unearned income, charge-offs, unamortized deferred fees and costs on originated loans and premium or discounts on purchased loans, except for purchased credit-impaired loans. Loan origination and commitment fees, net of related costs are deferred and amortized as an adjustment of loan yield over the estimated life of the loans approximating the effective interest method. Loans are deemed to be past due when the contractually required principal and interest payments have not been received as they become due. Loans are placed on non-accrual status generally, when they become 90 days past due and the full and timely collection of principal and interest becomes uncertain. When a loan is placed on non-accrual status, interest accruals cease and uncollected accrued interest is reversed and charged against current income. Payments received on non-accrual loans are generally applied against principal. A loan in which the borrowers’ obligation has not been released in bankruptcy courts may be restored to an accruing basis when it becomes well secured and is in the process of collection, or all past due amounts become current under the loan agreement and collectability is no longer doubtful.
Purchased Credit-Impaired Loans (Including Covered Loans)	Purchased Credit-Impaired Loans Purchased credit-impaired (PCI) loans are loans acquired at a discount (that is due, in part, to credit quality). Valley's PCI loan portfolio primarily consists of loans acquired in business combinations subsequent to 2011 and $27.6 million of mainly residential mortgage loans subject to loss sharing agreements (referred to as "covered loans") with the FDIC. The PCI loans are initially recorded at fair value (as determined by the present value of expected future cash flows) with no allowance for loan losses. Interest income on PCI loans has been accounted for based on the acquired loans’ expected cash flows. The PCI loans may be aggregated and accounted for as a pool of loans if the loans being aggregated have common risk characteristics. A pool is accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flow. The difference between the undiscounted cash flows expected at acquisition and the investment in the loans, or the “accretable yield,” is recognized as interest income utilizing the level-yield method over the life of each pool. Contractually required payments for interest and principal that exceed the undiscounted cash flows expected at acquisition, or the “nonaccretable difference,” are not recognized as a yield adjustment or as a loss accrual or an allowance for loan losses. Increases in expected cash flows subsequent to the acquisition are recognized prospectively through adjustment of the yield on the pool over its remaining life, while decreases in expected cash flows are recognized as impairment through a loss provision and an increase in the allowance for loan losses. Therefore, the allowance for loan losses on these impaired pools reflect only losses incurred after the acquisition (representing the present value of all cash flows that were expected at acquisition but currently are not expected to be received). Valley had no allowance reserves related to PCI loans at December 31, 2018 and 2017 . On a quarterly basis, the Bank periodically evaluates the remaining contractual required payments due and estimates of cash flows expected to be collected for the underlying loans of each PCI loan pool. These evaluations require the continued use of key assumptions and estimates, similar to the initial estimate of fair value. Changes in the contractual required payments due and estimated cash flows expected to be collected may result in changes in the accretable yield and non-accretable difference or reclassifications between accretable yield and the non-accretable difference. For the pools with better than expected cash flows, the forecasted increase is recorded as an additional accretable yield that is recognized as a prospective increase to our interest income on loans and the FDIC loss-share receivable, if applicable, is prospectively reduced by the guaranteed portion of the additional cash flows expected to be received, with a corresponding reduction to non-interest income. See Note 5 for additional information. PCI loans that may have been classified as non-performing loans by an acquired bank are no longer classified as non-performing because these loans are accounted for on a pooled basis. Management’s judgment is required in classifying loans in pools as performing loans, and is dependent on having a reasonable expectation about the timing and amount of the pool cash flows to be collected, even if certain loans within the pool are contractually past due.
Allowance for Credit Losses	Allowance for Credit Losses The allowance for credit losses (the “allowance”) is increased through provisions charged against current earnings and additionally by crediting amounts of recoveries received, if any, on previously charged-off loans. The allowance is reduced by charge-offs on loans or unfunded letters of credit which are determined to be a loss, in accordance with established policies, when all efforts of collection have been exhausted. The allowance is maintained at a level estimated to absorb probable credit losses inherent in the loan portfolio as well as other credit risk related charge-offs. The allowance is based on ongoing evaluations of the probable estimated losses inherent in the non-PCI loan portfolio and off-balance sheet unfunded letters of credit, as well as reserves for impairment of PCI loans subsequent to their acquisition date. As discussed under the “Purchased Credit-Impaired Loans” section above, Valley had no allowance reserves related to PCI loans at December 31, 2018 and 2017 . The Bank’s methodology for evaluating the appropriateness of the allowance includes grouping the non-covered loan portfolio into loan segments based on common risk characteristics, tracking the historical levels of classified loans and delinquencies, estimating the appropriate loss look-back and loss emergence periods related to historical losses for each loan segment, providing specific reserves on impaired loans, and assigning incremental reserves where necessary based upon qualitative and economic outlook factors including numerous variables, such as the nature and trends of recent loan charge-offs. Additionally, the volume of non-performing loans, concentration risks by size, type, and geography, new markets, collateral adequacy, credit policies and procedures, staffing, underwriting consistency, loan review and economic conditions are taken into consideration. The allowance for loan losses consists of four elements: (i) specific reserves for individually impaired credits, (ii) reserves for adversely classified, or higher risk rated, loans that are not impaired, (iii) reserves for other loans based on historical loss factors (using the appropriate loss look-back and loss emergence periods) adjusted for both internal and external qualitative risk factors to Valley, including the aforementioned factors, as well as changes in both organic and purchased loan portfolio volumes, the composition and concentrations of credit, new market initiatives, and the impact of competition on loan structuring and pricing, and (iv) an allowance for PCI loan pools impaired subsequent to the acquisition date, if applicable. The Credit Risk Management Department individually evaluates non-accrual (non-homogeneous) commercial and industrial loans and commercial real estate loans over $250 thousand and all troubled debt restructured loans. The value of an impaired loan is measured based upon the underlying anticipated method of payment consisting of either the present value of expected future cash flows discounted at the loan’s effective interest rate, or the fair value of the collateral, if the loan is collateral dependent, and its payment is expected solely based on the underlying collateral. If the value of an impaired loan is less than its carrying amount, impairment is recognized through a provision to the allowance for loan losses. Collateral dependent impaired loan balances are written down to the estimated current fair value (less estimated selling costs) of each loan’s underlying collateral resulting in an immediate charge-off to the allowance, excluding any consideration for personal guarantees that may be pursued in the Bank’s collection process. If repayment is based upon future expected cash flows, the present value of the expected future cash flows discounted at the loan’s original effective interest rate is compared to the carrying value of the loan, and any shortfall is recorded as a specific valuation allowance in the allowance for loan losses. Accrual of interest is discontinued on an impaired loan when management believes, after considering collection efforts and other factors, the borrower’s financial condition is such that collection of all principal and interest is doubtful. Cash collections from non-accrual loans are generally credited to the loan balance, and no interest income is recognized on these loans until the principal balance has been determined to be fully collectible. Residential mortgage loans and consumer loans usually consist of smaller balance homogeneous loans that are collectively evaluated for impairment, and are specifically excluded from the impaired loan portfolio, except where the loan is classified as a troubled debt restructured loan. The allowances established for probable losses on specific loans are based on a regular analysis and evaluation of the loans. Loans are evaluated based on an internal credit risk rating system for the commercial and industrial loan and commercial real estate loan portfolio segments and non-performing loan status for the residential and consumer loan portfolio segments. Loans are risk-rated based on an internal credit risk grading process that evaluates, among other things: (i) the obligor’s ability to repay; (ii) the underlying collateral, if any; and (iii) the economic environment and industry in which the borrower operates. This analysis is performed at the relationship manager level for all commercial and industrial loans and commercial real estate loans, and evaluated by the Loan Review Department on a test basis. Loans with a grade that is below “Pass” grade are adversely classified. See Note 5 for details. Any change in the credit risk grade of adversely classified performing and/or non-performing loans affects the amount of the related allowance. Once a loan is adversely classified, the assigned relationship manager and/or a special assets officer in conjunction with the Credit Risk Management Department analyzes the loan to determine whether the loan is impaired and, if impaired, the need to specifically assign a valuation allowance for loan losses to the loan. Specific valuation allowances are determined by analyzing the borrower’s ability to repay amounts owed, collateral deficiencies, the relative risk grade of the loan and economic conditions affecting the borrower’s industry, among other things. Loans identified as losses by management are charged-off. Commercial loans are generally assessed for full or partial charge-off to the net realizable value for collateral dependent loans when a loan is between 90 or 120 days past due or sooner if it is probable that a loan may not be fully collectable. Residential loans and home equity loans are generally charged-off to net realizable value when the loan is 120 days past due (or sooner when the borrowers’ obligation has been released in bankruptcy). Automobile loans are fully charged-off when the loan is 120 days past due or partially charged-off to the net realizable value of collateral, if the collateral is recovered prior to such time. Unsecured consumer loans are generally fully charged-off when the loan is 150 days past due. The allowance allocations for other loans (i.e., risk rated loans that are not adversely classified and loans that are not risk rated) are calculated by applying historical loss factors for each loan portfolio segment to the applicable outstanding loan portfolio balances. Loss factors are calculated using statistical analysis supplemented by management judgment. The statistical analysis considers historical default rates, historical loss severity in the event of default, and the average loss emergence period for each loan portfolio segment. The management analysis includes an evaluation of loan portfolio volumes, the composition and concentrations of credit, credit quality and current delinquency trends.
Premises and Equipment, Net	Premises and Equipment, Net Premises and equipment are stated at cost less accumulated depreciation computed using the straight-line method over the estimated useful lives of the related assets. Estimated useful lives range from 3 years for capitalized software to up to 40 years for buildings. Leasehold improvements are amortized over the term of the lease or estimated useful life of the asset, whichever is shorter. Major improvements are capitalized, while repairs and maintenance costs are charged to operations as incurred. Upon retirement or disposition, any gain or loss is credited or charged to operations.
Bank Owned Life Insurance	Bank Owned Life Insurance Valley owns bank owned life insurance (BOLI) to help offset the cost of employee benefits. BOLI is recorded at its cash surrender value. Valley’s BOLI is invested primarily in U.S. Treasury securities and residential mortgage-backed securities issued by government sponsored enterprises and Ginnie Mae. The majority of the underlying investment portfolio is managed by one independent investment firm. The change in the cash surrender value is included as a component of non-interest income and is exempt from federal and state income taxes as long as the policies are held until the death of the insured individuals.
Other Real Estate Owned	Other Real Estate Owned Valley acquires other real estate owned (OREO) through foreclosure on loans secured by real estate. OREO is reported at the lower of cost or fair value, as established by a current appraisal (less estimated costs to sell), and is included in other assets. Any write-downs at the date of foreclosure are charged to the allowance for loan losses. Expenses incurred to maintain these properties, unrealized losses resulting from valuation write-downs after the date of foreclosure, and realized gains and losses upon sale of the properties are included in other non-interest expense.
Goodwill	Goodwill Intangible assets resulting from acquisitions under the acquisition method of accounting consist of goodwill and other intangible assets (see “Other Intangible Assets” below). Goodwill is not amortized and is subject to an annual assessment for impairment. Currently, the goodwill impairment analysis is generally a two-step test. However, Valley may choose to perform an optional qualitative assessment to determine whether it is necessary to perform the two-step quantitative goodwill impairment test for one or more units in future periods. During 2018 and 2017 , Valley elected to perform step one of the two-step goodwill impairment test for all of its reporting units. Goodwill is allocated to Valley’s reporting unit, which is a business segment or one level below, at the date goodwill is actually recorded. If the carrying value of a reporting unit exceeds its estimated fair value, a second step in the analysis is performed to determine the amount of impairment, if any. The second step compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. If the carrying value of a reporting unit exceeds the implied fair value of the goodwill, an impairment charge is recorded equal to the excess amount in the current period earnings. Valley reviews goodwill annually or more frequently if a triggering event indicates impairment may have occurred, to determine potential impairment by determining if the fair value of the reporting unit has fallen below the carrying value.
Other Intangible Assets	Other Intangible Assets Other intangible assets primarily consist of loan servicing rights (largely generated from loan servicing retained by the Bank on residential mortgage loan originations sold in the secondary market to government sponsored enterprises), core deposits (the portion of an acquisition purchase price which represents value assigned to the existing deposit base) and customer lists obtained through acquisitions. Other intangible assets are amortized using various methods over their estimated lives and are periodically evaluated for impairment whenever events or changes in circumstances indicate the carrying amount of the assets may not be recoverable from future undiscounted cash flows. If impairment is deemed to exist, an adjustment is recorded to earnings in the current period for the difference between the fair value of the asset and its carrying amount. See further details regarding loan servicing rights below.
Loan Servicing Rights	Loan Servicing Rights Loan servicing rights are recorded when originated mortgage loans are sold with servicing rights retained, or when servicing rights are purchased. Valley initially records the loan servicing rights at fair value. Subsequently, the loan servicing rights are carried at the lower of unamortized cost or market (i.e., fair value). The fair values of the loan servicing rights are determined using a method which utilizes servicing income, discount rates, prepayment speeds and default rates specifically relative to Valley’s portfolio for originated mortgage servicing rights. The unamortized costs associated with acquiring loan servicing rights, net of any valuation allowances, are included in other intangible assets in the consolidated statements of financial condition and are accounted for using the amortization method. Under this method, Valley amortizes the loan servicing assets in proportion to and over the period of estimated net servicing revenues. On a quarterly basis, Valley stratifies its loan servicing assets into groupings based on risk characteristics and assesses each group for impairment based on fair value. A valuation allowance is established through an impairment charge to earnings to the extent the unamortized cost of a stratified group of loan servicing rights exceeds its estimated fair value. Increases in the fair value of impaired loan servicing rights are recognized as a reduction of the valuation allowance, but not in excess of such allowance. The amortization of loan servicing rights is recorded in non-interest income.
Stock-Based Compensation	Stock-Based Compensation Compensation expense for stock options and restricted stock awards (i.e., non-vested stock awards) is based on the fair value of the award on the date of the grant and is recognized ratably over the service period of the award. Under Valley’s long-term incentive compensation plans, award grantees that are eligible for retirement do not have a service period requirement. Compensation expense for these awards is recognized immediately in earnings. The service period for non-retirement eligible employees is the shorter of the stated vesting period of the award or the period until the employee’s retirement eligibility date. The fair value of each option granted is estimated using a binomial option pricing model. The fair value of restricted stock awards is based upon the last sale price reported for Valley’s common stock on the date of grant or the last sale price reported preceding such date, except for performance-based restricted stock and restricted stock unit awards with a market condition. The grant date fair value of a performance-based restricted stock or restricted stock unit award that vests based on a market condition is determined by a third party specialist using a Monte Carlo valuation model.
Fair Value Measurements	Fair Value Measurements In general, fair values of financial instruments are based upon quoted market prices, where available. When observable market prices and parameters are not fully available, management uses valuation techniques based upon internal and third party models requiring more management judgment to estimate the appropriate fair value measurements. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value, including adjustments based on internal cash flow model projections that utilize assumptions similar to those incorporated by market participants. Other adjustments may include amounts to reflect counterparty credit quality and Valley’s creditworthiness, among other things, as well as unobservable parameters. Any such valuation adjustments are applied consistently over time.
Revenue Recognition	Revenue Recognition On January 1, 2018, Valley adopted Accounting Standards Update 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 Accounting Standards Codification (ASC) Topic 606. 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 revenues, reported separately within total non-interest income on the consolidated statements of income, are within the scope of ASC Topic 606: Trust and investment 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.
Income Taxes	Income Taxes Valley uses the asset and liability method to provide income taxes on all transactions recorded in the consolidated financial statements. This method requires that income taxes reflect the expected future tax consequences of temporary differences between the carrying amounts of assets or liabilities for book and tax purposes. Accordingly, a deferred tax asset or liability for each temporary difference is determined based on the enacted tax rates that will be in effect when the underlying items of income and expense are expected to be realized. Valley’s expense for income taxes includes the current and deferred portions of that expense. Deferred tax assets are recognized if, in management's judgment, their realizability is determined to be more likely than not. A valuation allowance is established to reduce deferred tax assets to the amount we expect to realize. Deferred income tax expense or benefit results from differences between assets and liabilities measured for financial reporting versus income-tax return purposes. The effect on deferred taxes of a change in tax rates is recognized in income tax expense in the period that includes the enactment date. See Note 13 for details regarding the impact of the Tax Cuts and Jobs Act enacted by the U.S. government on December 22, 2017. Valley maintains a reserve related to certain tax positions that management believes contain an element of uncertainty. An uncertain tax position is measured based on the largest amount of benefit that management believes is more likely than not to be realized. Periodically, Valley evaluates each of its tax positions and strategies to determine whether the reserve continues to be appropriate.
Comprehensive Income	Comprehensive Income Comprehensive income or loss is defined as the change in equity of a business entity during a period due to transactions and other events and circumstances, excluding those resulting from investments by and distributions to shareholders. Comprehensive income consists of net income and other comprehensive income or loss. Valley’s components of other comprehensive income or loss, net of deferred tax, include: (i) unrealized gains and losses on securities available for sale (including the non-credit portion of other-than-temporary impairment charges relating to these securities); (ii) unrealized gains and losses on derivatives used in cash flow hedging relationships; and (iii) the pension benefit adjustment for the unfunded portion of its various employee, officer, and director pension plans. Income tax effects are released from accumulated other comprehensive income on an individual unit of account basis. Valley presents comprehensive income and its components in the consolidated statements of comprehensive income for all periods presented.
Earnings Per Common Share	Earnings Per Common Share In Valley's computation of the earnings per common share, the numerator of both the basic and diluted earnings per common share is net income available to common shareholders (which is equal to net income less dividends on preferred stock). The weighted average number of common shares outstanding used in the denominator for basic earnings per common share is increased to determine the denominator used for diluted earnings per common share by the effect of potentially dilutive common stock equivalents utilizing the treasury stock method. Common stock equivalents represent the dilutive effect of additional common shares issuable upon the assumed vesting or exercise, if applicable, of performance-based restricted stock units, common stock options and warrants to purchase Valley’s common shares. Common stock options 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.
Preferred and Common Stock Dividends	Preferred and Common Stock Dividends Valley issued 4.6 million shares and 4.0 million shares of non-cumulative perpetual preferred stock in June 2015 and August 2017, respectively, which were initially recorded at fair value (see Note 18 for additional details on the preferred stock issuances). The preferred shares are senior to Valley common stock, whereas the current year dividends must be paid before Valley can pay dividends to its common stockholders. Preferred dividends declared are deducted from net income for computing income available to common stockholders and earnings per common share computations. Cash dividends to both preferred and common stockholders are payable and accrued when declared by Valley's Board of Directors.
Treasury Stock	Treasury Stock Treasury stock is recorded using the cost method and accordingly is presented as a reduction of shareholders’ equity.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities As part of its asset/liability management strategies and to accommodate commercial borrowers, Valley has used interest rate swaps and caps to hedge variability in cash flows or fair values caused by changes in interest rates. Valley also uses derivatives not designated as hedges for non-speculative purposes to manage its exposure to interest rate movements related to a service for commercial lending customers, risk participation agreements sharing the risk of default on the interest rate swaps for certain purchased or sold loan participations, mortgage banking activities consisting of customer interest rate lock commitments and forward contracts to sell residential mortgage loans, and hybrid instruments, consisting of market linked certificates of deposit with an embedded swap contract. Derivatives used to hedge the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Derivatives used to hedge the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Valley records all derivatives as assets or liabilities at fair value on the consolidated statements of financial condition. For derivatives designated as cash flow hedges, the effective portion of changes in the fair value of the derivative is initially reported in other comprehensive income or loss and subsequently reclassified to earnings when the hedged transaction affects earnings, and the ineffective portion of changes in the fair value of the derivative is recognized directly in earnings. For derivatives designated as fair value hedges, changes in the fair value of the derivative and the hedged item related to the hedged risk are recognized in earnings. On a quarterly basis, Valley assesses the effectiveness of each hedging relationship by comparing the changes in cash flows or fair value of the derivative hedging instrument with the changes in cash flows or fair value of the designated hedged item or transaction. If a hedging relationship is terminated due to ineffectiveness, and the derivative instrument is not re-designated to a new hedging relationship, the subsequent change in fair value of such instrument is charged directly to earnings. Derivatives not designated as hedges do not meet the hedge accounting requirements under U.S. GAAP. Changes in fair value of derivatives not designated in hedging relationships are recorded directly in earnings. Valley calculates the credit valuation adjustments to the fair value of derivatives designated as fair value hedges on a net basis by counterparty portfolio, as an accounting policy election under the provisions of ASU No. 2011-04.
New Authoritative Accounting Guidance	New Authoritative Accounting Guidance New Accounting Guidance Adopted in 2018 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, issued in August 2018, 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 during the third quarter of 2018. The adoption resulted in the removal of the 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 previously presented in Note 3 due to the immaterial amount of such assets (which were also subsequently sold during the fourth quarter of 2018). ASU No. 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities" amends the hedge accounting recognition and presentation requirements to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. ASU No. 2017-12 is effective for the annual and interim reporting periods beginning January 1, 2019 with early adoption permitted. 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 19). 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 previous U.S. GAAP, the tax effects of intercompany sales were deferred until the transferred asset is sold to a third party or otherwise recovered through amortization. This was an exception to the accounting for income taxes that generally requires recognition of current and deferred income taxes. Effective January 1, 2018, ASU No. 2016-16 eliminated the exception for intercompany sales of assets. ASU No. 2016-16 was applied using the modified retrospective method, and, as a result, Valley recorded a $17.6 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 3). 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. The guidance does not apply to revenue associated with financial instruments, including loans and securities that are accounted for under other U.S. GAAP. Valley adopted the guidance on January 1, 2018 using the modified retrospective method, however, Valley did not record a cumulative-effect adjustment to opening retained earnings at the adoption date because it found no material changes related to the timing or amount of revenue recognition. Consequently, the new revenue recognition standard did not have a material impact on Valley’s consolidated financial statements. Valley has also concluded that additional disaggregation of revenue categories that are within the scope of the new guidance is not necessary. See the "Revenue Recognition" section of Note 1 above for additional information. 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 into before and after the adoption date. During the fourth quarter of 2018, Valley adopted ASU No. 2018-15 on a prospective basis. The adoption of ASU No. 2018-15 did not have a significant impact on Valley's consolidated financial statements. New Accounting Guidance to be Adopted in the First Quarter of 2019 ASU No. 2016-02, “Leases (Topic 842)” and subsequent related updates require lessees to recognize leases on balance sheet and disclose key information about leasing arrangements. The new standard establishes a right-of-use model that requires lessees to recognize a right of use (ROU) asset and related lease liability for all leases with a term longer than 12 months. 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. Leases will continue to be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement. Topic 842 became effective for Valley for reporting periods after January 1, 2019 and it had a material effect on our financial statements related to the recognition of new ROU assets and lease liabilities and significant new disclosures about leasing activities. The new standard also provides several optional practical expedients in transition and accounting policy elections. Valley elected the "package of practical expedients," the practical expedient to not separate lease and non-lease components, and the short-term lease recognition exemption accounting policy election. Valley initially applied Topic 842 at the adoption date and recognized 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". Upon adoption, Valley recorded a right of use asset of approximately $216 million (net of the reversal of the current deferred rent liability) and lease obligation of approximately $241 million as of January 1, 2019. The recognized right of use asset 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 during the first quarter of 2019. Valley applied the hindsight practical expedient and concluded that several lease terms should be reduced. As a result, Valley will adjust the initial recognition of the carrying amount of ROU asset and lease obligation and record an adjustment to the opening balance of retained earnings as of January 1, 2019 totaling $6.2 million . 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. 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 will not have a significant impact on Valley's consolidated financial statements. New Accounting Guidance Not Yet Adopted 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.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Calculation of Basic and Diluted Earnings Per Common Share	The following table shows the calculation of both basic and diluted earnings per common share for the years ended December 31, 2018 , 2017 and 2016 : 2018 2017 2016 (in thousands, except for share data) Net income available to common shareholders $ 248,740 $ 152,458 $ 160,958 Basic weighted-average number of common shares outstanding 331,258,964 264,038,123 254,841,571 Plus: Common stock equivalents 1,434,754 850,884 426,765 Diluted weighted-average number of common shares outstanding 332,693,718 264,889,007 255,268,336 Earnings per common share: Basic $ 0.75 $ 0.58 $ 0.63 Diluted 0.75 0.58 0.63

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Dec. 31, 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 3,736,984 Premises and equipment 62,066 Bank owned life insurance 49,052 Accrued interest receivable 12,123 Goodwill 394,028 Other intangible assets 45,906 Other assets: Deferred taxes 10,623 Other real estate owned 4,073 FHLB and FRB stock 38,809 Tax credit investments 20,138 Other 26,416 Total other assets 100,059 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

Fair Value Measurement of Ass_2

Fair Value Measurement of Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring and Non-Recurring Basis	The following tables present the assets and liabilities that are measured at fair value on a recurring and non-recurring basis by level within the fair value hierarchy as reported on the consolidated statements of financial condition at December 31, 2018 and 2017 . The assets presented under “non-recurring fair value measurements” in the table below are not measured at fair value on an ongoing basis but are subject to fair value adjustments under certain circumstances (e.g., when an impairment loss is recognized). Fair Value Measurements at Reporting Date Using: December 31, Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in thousands) Recurring fair value measurements: Assets Investment securities: Available for sale: U.S. Treasury securities $ 49,306 $ 49,306 $ — $ — U.S. government agency securities 36,277 — 36,277 — Obligations of states and political subdivisions 197,092 — 197,092 — Residential mortgage-backed securities 1,429,782 — 1,429,782 — Corporate and other debt securities 37,087 — 37,087 — Total available for sale 1,749,544 49,306 1,700,238 — Loans held for sale (1) 35,155 — 35,155 — Other assets (2) 48,979 — 48,979 — Total assets $ 1,833,678 $ 49,306 $ 1,784,372 $ — Liabilities Other liabilities (2) $ 23,681 $ — $ 23,681 $ — Total liabilities $ 23,681 $ — $ 23,681 $ — Non-recurring fair value measurements: Collateral dependent impaired loans (3) $ 45,245 $ — $ — $ 45,245 Loan servicing rights 273 — — 273 Foreclosed assets 5,673 — — 5,673 Total $ 51,191 $ — $ — $ 51,191 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 held for sale that are carried at fair value and had contractual unpaid principal balances totaling approximately $34.6 million and $14.8 million at December 31, 2018 and 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 December 31, 2018 and 2017 were as follows: December 31, 2018 2017 Fair Value Hierarchy Carrying Amount Fair Value Carrying Amount Fair Value (in thousands) Financial assets Cash and due from banks Level 1 $ 251,541 $ 251,541 $ 234,310 $ 234,310 Interest bearing deposits with banks Level 1 177,088 177,088 172,800 172,800 Investment securities held to maturity: U.S. Treasury securities Level 1 138,517 142,049 138,676 145,257 U.S. government agency securities Level 2 8,721 8,641 9,859 9,981 Obligations of states and political subdivisions Level 2 585,656 586,033 465,878 477,479 Residential mortgage-backed securities Level 2 1,266,770 1,235,605 1,131,945 1,118,044 Trust preferred securities Level 2 37,332 31,486 49,824 40,088 Corporate and other debt securities Level 2 31,250 31,129 46,509 46,771 Total investment securities held to maturity 2,068,246 2,034,943 1,842,691 1,837,620 Net loans Level 3 24,883,610 24,068,755 18,210,724 17,562,153 Accrued interest receivable Level 1 95,296 95,296 73,990 73,990 Federal Reserve Bank and Federal Home Loan Bank stock (1) Level 1 232,080 232,080 178,668 178,668 Financial liabilities Deposits without stated maturities Level 1 17,388,990 17,388,990 14,589,941 14,589,941 Deposits with stated maturities Level 2 7,063,984 7,005,573 3,563,521 3,465,373 Short-term borrowings Level 1 2,118,914 2,091,892 748,628 679,316 Long-term borrowings Level 2 1,654,268 1,751,194 2,315,819 2,453,797 Junior subordinated debentures issued to capital trusts Level 2 55,370 55,692 41,774 37,289 Accrued interest payable (2) Level 1 25,762 25,762 14,161 14,161 (1) Included in other assets. (2) Included in accrued expenses and other liabilities.

Investment Securities (Tables)

Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Investment Securities Held to Maturity	The amortized cost, gross unrealized gains and losses and fair value of investment securities held to maturity at December 31, 2018 and 2017 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) December 31, 2018 U.S. Treasury securities $ 138,517 $ 3,532 $ — $ 142,049 U.S. government agency securities 8,721 55 (135 ) 8,641 Obligations of states and political subdivisions: Obligations of states and state agencies 341,702 4,332 (5,735 ) 340,299 Municipal bonds 243,954 3,141 (1,361 ) 245,734 Total obligations of states and political subdivisions 585,656 7,473 (7,096 ) 586,033 Residential mortgage-backed securities 1,266,770 3,203 (34,368 ) 1,235,605 Trust preferred securities 37,332 77 (5,923 ) 31,486 Corporate and other debt securities 31,250 96 (217 ) 31,129 Total investment securities held to maturity $ 2,068,246 $ 14,436 $ (47,739 ) $ 2,034,943 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 December 31, 2018 and 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) December 31, 2018 U.S. government agency securities $ — $ — $ 6,074 $ (135 ) $ 6,074 $ (135 ) Obligations of states and political subdivisions: Obligations of states and state agencies 16,098 (266 ) 138,437 (5,469 ) 154,535 (5,735 ) Municipal bonds 3,335 (37 ) 60,078 (1,324 ) 63,413 (1,361 ) Total obligations of states and political subdivisions 19,433 (303 ) 198,515 (6,793 ) 217,948 (7,096 ) Residential mortgage-backed securities 72,240 (852 ) 846,671 (33,516 ) 918,911 (34,368 ) Trust preferred securities — — 30,055 (5,923 ) 30,055 (5,923 ) Corporate and other debt securities 9,948 (52 ) 4,835 (165 ) 14,783 (217 ) Total $ 101,621 $ (1,207 ) $ 1,086,150 $ (46,532 ) $ 1,187,771 $ (47,739 ) 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 December 31, 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. December 31, 2018 Amortized Cost Fair Value (in thousands) Due in one year $ 21,418 $ 21,459 Due after one year through five years 274,389 278,051 Due after five years through ten years 260,835 267,813 Due after ten years 244,834 232,015 Residential mortgage-backed securities 1,266,770 1,235,605 Total investment securities held to maturity $ 2,068,246 $ 2,034,943
Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Investment Securities Available for Sale	The amortized cost, gross unrealized gains and losses and fair value of investment securities available for sale at December 31, 2018 and 2017 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) December 31, 2018 U.S. Treasury securities $ 50,975 $ — $ (1,669 ) $ 49,306 U.S. government agency securities 36,844 71 (638 ) 36,277 Obligations of states and political subdivisions: Obligations of states and state agencies 100,777 18 (3,682 ) 97,113 Municipal bonds 101,207 209 (1,437 ) 99,979 Total obligations of states and political subdivisions 201,984 227 (5,119 ) 197,092 Residential mortgage-backed securities 1,469,059 1,484 (40,761 ) 1,429,782 Corporate and other debt securities 37,542 213 (668 ) 37,087 Total investment securities available for sale $ 1,796,404 $ 1,995 $ (48,855 ) $ 1,749,544 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	The age of unrealized losses and fair value of related securities available for sale at December 31, 2018 and 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) December 31, 2018 U.S. Treasury securities $ — $ — $ 49,306 $ (1,669 ) $ 49,306 $ (1,669 ) U.S. government agency securities 2,120 (20 ) 26,775 (618 ) 28,895 (638 ) Obligations of states and political subdivisions: Obligations of states and state agencies 17,560 (95 ) 75,718 (3,587 ) 93,278 (3,682 ) Municipal bonds 5,018 (106 ) 70,286 (1,331 ) 75,304 (1,437 ) Total obligations of states and political subdivisions 22,578 (201 ) 146,004 (4,918 ) 168,582 (5,119 ) Residential mortgage-backed securities 119,645 (668 ) 1,221,942 (40,093 ) 1,341,587 (40,761 ) Corporate and other debt securities 12,339 (161 ) 12,397 (507 ) 24,736 (668 ) Total $ 156,682 $ (1,050 ) $ 1,456,424 $ (47,805 ) $ 1,613,106 $ (48,855 ) 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 Investments Securities Available for Sale	The contractual maturities of investments securities available for sale at December 31, 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. December 31, 2018 Amortized Cost Fair Value (in thousands) Due in one year $ 4,666 $ 4,643 Due after one year through five years 125,825 123,051 Due after five years through ten years 78,305 76,640 Due after ten years 118,549 115,428 Residential mortgage-backed securities 1,469,059 1,429,782 Total investment securities available for sale $ 1,796,404 $ 1,749,544
Realized Gains and Losses	Gross gains and losses realized on sales, maturities and other securities transactions included in earnings for the years ended December 31, 2018 , 2017 and 2016 were as follows: 2018 2017 2016 (in thousands) Sales transactions: Gross gains $ 1,769 $ — $ 271 Gross losses (3,881 ) (25 ) (58 ) $ (2,112 ) $ (25 ) $ 213 Maturities and other securities transactions: Gross gains $ 42 $ 43 $ 615 Gross losses (272 ) (38 ) (51 ) $ (230 ) $ 5 $ 564 (Losses) gains on securities transactions, net $ (2,342 ) $ (20 ) $ 777

Loans (Tables)

Loans (Tables)	12 Months Ended
	Dec. 31, 2018
Receivables [Abstract]
Schedule of Loan Portfolio	The detail of the loan portfolio as of December 31, 2018 and 2017 was as follows: December 31, 2018 December 31, 2017 Non-PCI Loans PCI Loans* Total Non-PCI Loans PCI Loans* Total (in thousands) Loans: Commercial and industrial $ 3,590,375 $ 740,657 $ 4,331,032 $ 2,549,065 $ 192,360 $ 2,741,425 Commercial real estate: Commercial real estate 9,912,309 2,494,966 12,407,275 8,561,851 934,926 9,496,777 Construction 1,122,348 365,784 1,488,132 809,964 41,141 851,105 Total commercial real estate loans 11,034,657 2,860,750 13,895,407 9,371,815 976,067 10,347,882 Residential mortgage 3,682,984 428,416 4,111,400 2,717,744 141,291 2,859,035 Consumer: Home equity 371,340 145,749 517,089 373,631 72,649 446,280 Automobile 1,319,206 365 1,319,571 1,208,804 98 1,208,902 Other consumer 846,821 14,149 860,970 723,306 4,750 728,056 Total consumer loans 2,537,367 160,263 2,697,630 2,305,741 77,497 2,383,238 Total loans $ 20,845,383 $ 4,190,086 $ 25,035,469 $ 16,944,365 $ 1,387,215 $ 18,331,580 * PCI loans include covered loans (mostly consisting of residential mortgage loans) totaling $27.6 million and $38.7 million at December 31, 2018 and 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): January 1, 2018 (in thousands) Contractually required principal and interest $ 4,398,687 Contractual cash flows not expected to be collected (non-accretable difference) (101,796 ) Expected cash flows to be collected 4,296,891 Interest component of expected cash flows (accretable yield) (559,907 ) Fair value of acquired loans $ 3,736,984
Changes in Accretable Yield for PCI Loans	The following table presents changes in the accretable yield for PCI loans for the years ended December 31, 2018 and 2017 : 2018 2017 (in thousands) Balance, beginning of period $ 282,009 $ 294,514 Acquisition 559,907 — Accretion (235,741 ) (89,770 ) Net increase in expected cash flows 269,783 77,265 Balance, end of period $ 875,958 $ 282,009
Changes in Amounts of Loans and Advances to the Related Parties	The following table summarizes the changes in the total amounts of loans and advances to the related parties during the year ended December 31, 2018 : 2018 (in thousands) Outstanding at beginning of year $ 151,265 New loans and advances 86,837 Repayments (23,994 ) Outstanding at end of year $ 214,108
Past Due, Non-Accrual and Current Loans by Loan Portfolio Class	The following tables present past due, non-accrual and current loans (excluding PCI loans, which are accounted for on a pool basis) by loan portfolio class at December 31, 2018 and 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) December 31, 2018 Commercial and industrial $ 13,085 $ 3,768 $ 6,156 $ 70,096 $ 93,105 $ 3,497,270 $ 3,590,375 Commercial real estate: Commercial real estate 9,521 530 27 2,372 12,450 9,899,859 9,912,309 Construction 2,829 — — 356 3,185 1,119,163 1,122,348 Total commercial real estate loans 12,350 530 27 2,728 15,635 11,019,022 11,034,657 Residential mortgage 16,576 2,458 1,288 12,917 33,239 3,649,745 3,682,984 Consumer loans: Home equity 872 40 — 2,156 3,068 368,272 371,340 Automobile 7,973 1,299 308 80 9,660 1,309,546 1,319,206 Other consumer 895 47 33 419 1,394 845,427 846,821 Total consumer loans 9,740 1,386 341 2,655 14,122 2,523,245 2,537,367 Total $ 51,751 $ 8,142 $ 7,812 $ 88,396 $ 156,101 $ 20,689,282 $ 20,845,383 Past Due and Non-Accrual Loans 30-59 Days Past Due Loans 60-89 Days Past Due Loans Accruing Loans 90 Days Or More Past Due Non-Accrual Loans Total Past Due Loans Current Non-PCI Loans Total Non-PCI Loans (in thousands) December 31, 2017 Commercial and industrial $ 3,650 $ 544 $ — $ 20,890 $ 25,084 $ 2,523,981 $ 2,549,065 Commercial real estate: Commercial real estate 11,223 — 27 11,328 22,578 8,539,273 8,561,851 Construction 12,949 18,845 — 732 32,526 777,438 809,964 Total commercial real estate loans 24,172 18,845 27 12,060 55,104 9,316,711 9,371,815 Residential mortgage 12,669 7,903 2,779 12,405 35,756 2,681,988 2,717,744 Consumer loans: Home equity 1,009 94 — 1,777 2,880 370,751 373,631 Automobile 5,707 987 271 73 7,038 1,201,766 1,208,804 Other consumer 1,693 118 13 20 1,844 721,462 723,306 Total consumer loans 8,409 1,199 284 1,870 11,762 2,293,979 2,305,741 Total $ 48,900 $ 28,491 $ 3,090 $ 47,225 $ 127,706 $ 16,816,659 $ 16,944,365
Impaired Loans by Loan Portfolio Class	The following table presents information about impaired loans by loan portfolio class at December 31, 2018 and 2017 : Recorded Investment With No Related Allowance Recorded Investment With Related Allowance Total Recorded Investment Unpaid Contractual Principal Balance Related Allowance (in thousands) December 31, 2018 Commercial and industrial $ 8,339 $ 89,513 $ 97,852 $ 104,007 $ 29,684 Commercial real estate: Commercial real estate 16,732 25,606 42,338 44,337 2,615 Construction 803 457 1,260 1,260 13 Total commercial real estate loans 17,535 26,063 43,598 45,597 2,628 Residential mortgage 7,826 6,078 13,904 14,948 600 Consumer loans: Home equity 125 1,146 1,271 1,366 113 Total consumer loans 125 1,146 1,271 1,366 113 Total $ 33,825 $ 122,800 $ 156,625 $ 165,918 $ 33,025 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 table presents, by loan portfolio class, the average recorded investment and interest income recognized on impaired loans for the years ended December 31, 2018 , 2017 and 2016 : 2018 2017 2016 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) Commercial and industrial $ 108,071 $ 1,822 $ 80,974 $ 1,459 $ 36,552 $ 1,045 Commercial real estate: Commercial real estate 44,838 2,289 54,799 1,908 59,633 2,122 Construction 1,517 69 3,258 86 5,790 182 Total commercial real estate loans 46,355 2,358 58,057 1,994 65,423 2,304 Residential mortgage 15,384 506 15,451 760 21,340 874 Consumer loans: Home equity 865 21 4,295 160 2,626 68 Total consumer loans 865 21 4,295 160 2,626 68 Total $ 170,675 $ 4,707 $ 158,777 $ 4,373 $ 125,941 $ 4,291
Non-PCI Loans by Loan Class Modified as TDRs	The following table presents non-PCI loans by loan class modified as TDRs during the years ended December 31, 2018 and 2017 . The pre-modification and post-modification outstanding recorded investments disclosed in the table below represent the loan carrying amounts immediately prior to the modification and the carrying amounts at December 31, 2018 and 2017 , respectively. Troubled Debt Restructurings Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment ($ in thousands) December 31, 2018 Commercial and industrial 25 $ 16,251 $ 15,105 Commercial real estate: Commercial real estate 8 5,643 6,600 Construction 1 532 356 Total commercial real estate 9 6,175 6,956 Residential mortgage 8 1,500 1,461 Consumer 2 99 101 Total 44 $ 24,025 $ 23,623 December 31, 2017 Commercial and industrial 90 $ 75,894 $ 69,020 Commercial real estate: Commercial real estate 6 23,781 23,548 Construction 3 1,188 932 Total commercial real estate 9 24,969 24,480 Residential mortgage 7 1,769 1,727 Total 106 $ 102,632 $ 95,227 The non-PCI loans modified as TDRs within the previous 12 months and for which there was a payment default ( 90 or more days past due) for the years ended December 31, 2018 and 2017 were as follows: Years Ended December 31, 2018 2017 Troubled Debt Restructurings Subsequently Defaulted Number of Contracts Recorded Investment Number of Contracts Recorded Investment ($ in thousands) Commercial and industrial 10 $ 8,829 7 $ 5,841 Commercial real estate — — 1 165 Residential mortgage 3 490 5 1,125 Total 13 $ 9,319 13 $ 7,131
Risk Category of Loans by Class of Loans	The following table presents the credit exposure by internally assigned risk rating by class of loans (excluding PCI loans) based on the most recent analysis performed at December 31, 2018 and 2017 . Credit exposure— by internally assigned risk rating Special Total Non-PCI Pass Mention Substandard Doubtful Loans (in thousands) December 31, 2018 Commercial and industrial $ 3,399,426 $ 31,996 $ 92,320 $ 66,633 $ 3,590,375 Commercial real estate 9,828,744 30,892 51,710 963 9,912,309 Construction 1,121,321 215 812 — 1,122,348 Total $ 14,349,491 $ 63,103 $ 144,842 $ 67,596 $ 14,625,032 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 December 31, 2018 and 2017 : Credit exposure— by payment activity Performing Loans Non-Performing Loans Total Non-PCI Loans (in thousands) December 31, 2018 Residential mortgage $ 3,670,067 $ 12,917 $ 3,682,984 Home equity 369,184 2,156 371,340 Automobile 1,319,126 80 1,319,206 Other consumer 846,402 419 846,821 Total $ 6,204,779 $ 15,572 $ 6,220,351 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 December 31, 2018 and 2017 : Credit exposure— Performing Non-Performing Total by payment activity Loans Loans PCI Loans (in thousands) December 31, 2018 Commercial and industrial $ 710,045 $ 30,612 $ 740,657 Commercial real estate 2,478,990 15,976 2,494,966 Construction 364,815 969 365,784 Residential mortgage 421,609 6,807 428,416 Consumer 158,502 1,761 160,263 Total $ 4,133,961 $ 56,125 $ 4,190,086 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)	12 Months Ended
	Dec. 31, 2018
Receivables [Abstract]
Summary of Allowance for Credit Losses	The following table summarizes the allowance for credit losses at December 31, 2018 and 2017 : December 31, 2018 2017 (in thousands) Components of allowance for credit losses: Allowance for loan losses $ 151,859 $ 120,856 Allowance for unfunded letters of credit 4,436 3,596 Total allowance for credit losses $ 156,295 $ 124,452
Summary of Provision for Credit Losses	The following table summarizes the provision for credit losses for the years ended December 31, 2018 , 2017 and 2016 : 2018 2017 2016 (in thousands) Components of provision for credit losses: Provision for loan losses $ 31,661 $ 8,531 $ 11,873 Provision for unfunded letters of credit 840 1,411 (4 ) Total provision for credit losses $ 32,501 $ 9,942 $ 11,869
Summary of Activity in Allowance for Loan Losses	The following table details the activity in the allowance for loan losses by portfolio segment for the years ended December 31, 2018 and 2017 : Commercial and Industrial Commercial Real Estate Residential Mortgage Consumer Total (in thousands) December 31, 2018 Allowance for loan losses: Beginning balance $ 57,232 $ 54,954 $ 3,605 $ 5,065 $ 120,856 Loans charged-off (2,515 ) (348 ) (223 ) (4,977 ) (8,063 ) Charged-off loans recovered 4,623 417 272 2,093 7,405 Net (charge-offs) recoveries 2,108 69 49 (2,884 ) (658 ) Provision for loan losses 31,616 (5,373 ) 1,387 4,031 31,661 Ending balance $ 90,956 $ 49,650 $ 5,041 $ 6,212 $ 151,859 December 31, 2017 Allowance for loan losses: Beginning balance $ 50,820 $ 55,851 $ 3,702 $ 4,046 $ 114,419 Loans charged-off (5,421 ) (559 ) (530 ) (4,564 ) (11,074 ) Charged-off loans recovered 4,736 1,425 1,016 1,803 8,980 Net (charge-offs) recoveries (685 ) 866 486 (2,761 ) (2,094 ) Provision for loan losses 7,097 (1,763 ) (583 ) 3,780 8,531 Ending balance $ 57,232 $ 54,954 $ 3,605 $ 5,065 $ 120,856
Summary of Allocation of Allowance for Loan Losses and Related Loans by Loan Portfolio Segment Disaggregated Based on Impairment Methodology	The following table represents the allocation of the allowance for loan losses and the related loans by loan portfolio segment disaggregated based on the impairment methodology for the years ended December 31, 2018 and 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) December 31, 2018 Allowance for loan losses: Individually evaluated for impairment $ 29,684 $ 2,628 $ 600 $ 113 $ 33,025 Collectively evaluated for impairment 61,272 47,022 4,441 6,099 118,834 Total $ 90,956 $ 49,650 $ 5,041 $ 6,212 $ 151,859 Loans: Individually evaluated for impairment $ 97,852 $ 43,598 $ 13,904 $ 1,271 $ 156,625 Collectively evaluated for impairment 3,492,523 10,991,059 3,669,080 2,536,096 20,688,758 Loans acquired with discounts related to credit quality 740,657 2,860,750 428,416 160,263 4,190,086 Total $ 4,331,032 $ 13,895,407 $ 4,111,400 $ 2,697,630 $ 25,035,469 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

Premises and Equipment, Net (Ta

Premises and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Components of Premises and Equipment, Net	At December 31, 2018 and 2017 , premises and equipment, net consisted of: 2018 2017 (in thousands) Land $ 93,600 $ 77,235 Buildings 250,510 210,335 Leasehold improvements 77,425 79,217 Furniture and equipment 263,604 255,189 Total premises and equipment 685,139 621,976 Accumulated depreciation and amortization (343,509 ) (334,271 ) Total premises and equipment, net $ 341,630 $ 287,705

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying Amount of Goodwill	The changes in the carrying amount of goodwill as allocated to our business segments, or reporting units thereof, for goodwill impairment analysis were: Business Segment / Reporting Unit* Wealth Management Consumer Lending Commercial Lending Investment Management Total (in thousands) Balance at December 31, 2016 $ 21,218 $ 200,103 $ 316,258 $ 153,058 $ 690,637 Balance at December 31, 2017 $ 21,218 $ 200,103 $ 316,258 $ 153,058 $ 690,637 Goodwill from business combinations — 86,922 241,592 65,514 394,028 Balance at December 31, 2018 $ 21,218 $ 287,025 $ 557,850 $ 218,572 $ 1,084,665 * Valley’s Wealth Management Division is comprised of trust, asset management and insurance services. This reporting unit is included in the Consumer Lending segment for financial reporting purposes.
Other Intangible Assets	The following tables summarize other intangible assets as of December 31, 2018 and 2017 : Gross Intangible Assets Accumulated Amortization Valuation Allowance Net Intangible Assets (in thousands) December 31, 2018 Loan servicing rights $ 87,354 $ (63,161 ) $ (83 ) $ 24,110 Core deposits 80,470 (29,136 ) — 51,334 Other 3,945 (2,399 ) — 1,546 Total other intangible assets $ 171,769 $ (94,696 ) $ (83 ) $ 76,990 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
Schedule of Change in Loan Servicing Rights	The following table summarizes the change in loan servicing rights during the years ended December 31, 2018 , 2017 and 2016 : 2018 2017 2016 (in thousands) Loan servicing rights: Balance at beginning of year $ 22,084 $ 20,368 $ 16,681 Origination of loan servicing rights 8,216 7,039 8,479 Amortization expense (6,107 ) (5,323 ) (4,792 ) Balance at end of year $ 24,193 $ 22,084 $ 20,368 Valuation allowance: Balance at beginning of year $ (471 ) $ (900 ) $ (289 ) Impairment adjustment 388 429 (611 ) Balance at end of year $ (83 ) $ (471 ) $ (900 ) Balance at end of year, net of valuation allowance $ 24,110 $ 21,613 $ 19,468
Estimated Future Amortization Expense	The following table presents the estimated amortization expense of other intangible assets over the next five-year period: Year Loan Servicing Rights Core Deposits Other (in thousands) 2019 $ 5,574 $ 10,961 $ 235 2020 4,590 9,607 220 2021 3,614 8,252 206 2022 2,872 6,898 191 2023 2,286 5,544 131

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2018
Banking and Thrift [Abstract]
Scheduled Maturities of Time Deposits	The scheduled maturities of time deposits as of December 31, 2018 are as follows: Year Amount (in thousands) 2019 $ 4,987,313 2020 1,551,067 2021 163,059 2022 176,727 2023 143,287 Thereafter 42,531 Total time deposits $ 7,063,984

Borrowed Funds (Tables)

Borrowed Funds (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of Short-Term Borrowings	Short-term borrowings at December 31, 2018 and 2017 consisted of the following: 2018 2017 (in thousands) FHLB advances $ 1,732,000 $ 427,000 Securities sold under agreements to repurchase 261,914 321,628 Federal funds purchased 125,000 — Total short-term borrowings $ 2,118,914 $ 748,628
Schedule of Long-Term Borrowings	Long-term borrowings at December 31, 2018 and 2017 consisted of the following: 2018 2017 (in thousands) FHLB advances, net (1) $ 1,309,666 $ 1,980,666 Subordinated debt, net (2) 294,602 235,153 Securities sold under agreements to repurchase 50,000 100,000 Total long-term borrowings $ 1,654,268 $ 2,315,819 (1) FHLB advances are presented net of unamortized prepayment penalties and other purchase accounting adjustments totaling $10.3 million and $14.3 million at December 31, 2018 and 2017, respectively. (2) Subordinated debt is presented net of unamortized debt issuance costs totaling $1.4 million and $1.7 million at December 31, 2018 and 2017, respectively.
Schedule of FHLB Repayment	The long-term FHLB advances at December 31, 2018 are scheduled for contractual balance repayments as follows: Year Amount (in thousands) 2019 $ 255,000 2020 25,000 2021 840,000 2022 200,000 Total long-term FHLB advances $ 1,320,000
Schedule of Repayment of Long-Term Borrowings for Securities Sold Under Agreements to Repurchase	The long-term repos at December 31, 2018 are scheduled for contractual balance repayments as follows: Year Amount (in thousands) 2022 $ 50,000 Total long-term securities sold under agreements to repurchase $ 50,000

Junior Subordinated Debenture_2

Junior Subordinated Debentures Issued to Capital Trusts (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of Outstanding Junior Subordinated Debentures and Related Trust Preferred Securities Issued by Each Trust	The table below summarizes the outstanding junior subordinated debentures and the related trust preferred securities issued by each trust as of December 31, 2018 and 2017 : GCB Capital Trust III State Bancorp Capital Trust I State Bancorp Capital Trust II Aliant Statutory Trust II ($ in thousands) Junior Subordinated Debentures: December 31, 2018 Carrying value (1) $ 24,743 $ 8,924 $ 8,337 $ 13,366 Contractual principal balance 24,743 10,310 10,310 15,464 December 31, 2017 Carrying value (1) $ 24,743 $ 8,824 $ 8,207 NA Contractual principal balance 24,743 10,310 10,310 NA Annual interest rate (2) 3-mo. LIBOR+1.4% 3-mo. LIBOR+3.45% 3-mo. LIBOR+2.85% 3-mo. LIBOR+1.8% Stated maturity date July 30, 2037 November 7, 2032 January 23, 2034 December 15, 2036 Initial call date July 30, 2017 November 7, 2007 January 23, 2009 December 15, 2011 Trust Preferred Securities: December 31, 2018 and 2017 Face value $ 24,000 $ 10,000 $ 10,000 $ 15,000 Annual distribution rate (2) 3-mo. LIBOR+1.4% 3-mo. LIBOR+3.45% 3-mo. LIBOR+2.85% 3-mo. LIBOR+1.8% Issuance date July 2, 2007 October 29, 2002 December 19, 2003 December 14, 2006 Distribution dates (3) Quarterly Quarterly Quarterly Quarterly (1) The carrying values include unamortized purchase accounting adjustments at December 31, 2018 and 2017 . (2) Interest on GCB Capital Trust III was fixed at an annual rate of 6.96 percent until July 30, 2017, thereafter, it resets quarterly to 3 -month LIBOR plus 1.4 percent . The annual interest rate for all of the junior subordinated debentures and related trust preferred securities excludes the effect of the purchase accounting adjustments. (3) All cash distributions are cumulative.

Benefit Plans (Tables)

Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2018
Retirement Benefits [Abstract]
Change in Projected Benefit Obligation	The following table sets forth the change in the projected benefit obligation, the change in fair value of plan assets and the funded status and amounts recognized in Valley’s consolidated financial statements for the qualified and non-qualified plans at December 31, 2018 and 2017 : 2018 2017 (in thousands) Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 170,566 $ 161,306 Interest cost 5,542 5,713 Actuarial (gain) loss (11,540 ) 10,148 Benefits paid (7,204 ) (6,601 ) Projected benefit obligation at end of year $ 157,364 $ 170,566 Change in fair value of plan assets: Fair value of plan assets at beginning of year $ 222,124 $ 206,639 Actual (loss) return on plan assets (5,545 ) 21,468 Employer contributions 1,133 618 Benefits paid (7,204 ) (6,601 ) Fair value of plan assets at end of year* $ 210,508 $ 222,124 Funded status of the plan Asset recognized $ 53,144 $ 51,558 Accumulated benefit obligation 157,364 170,566 * Includes accrued interest receivable of $660 thousand and $993 thousand as of December 31, 2018 and 2017 , respectively.
Components of Net Periodic Pension Expense	Amounts recognized as a component of accumulated other comprehensive loss as of year-end that have not been recognized as a component of the net periodic pension expense for Valley’s qualified and non-qualified plans are presented in the following table. Valley expects to recognize approximately $309 thousand of the net actuarial loss reported in the following table as of December 31, 2018 as a component of net periodic pension expense during 2019 . 2018 2017 (in thousands) Net actuarial loss $ 42,893 $ 33,602 Deferred tax benefit (12,205 ) (14,044 ) Total $ 30,688 $ 19,558
Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets for Non-Qualified Plans	The non-qualified plans had a projected benefit obligation, accumulated benefit obligation, and fair value of plan assets as follows: 2018 2017 (in thousands) Projected benefit obligation $ 18,708 $ 20,175 Accumulated benefit obligation 18,708 20,175 Fair value of plan assets — —
Components of Net Periodic Pension Income for Qualified and Non-Qualified Plans	The net periodic pension income for the qualified and non-qualified plans reported within other non-interest expense (due to the adoption of ASU No. 2017-07) included the following components for the years ended December 31, 2018 , 2017 and 2016 : 2018 2017 2016 (in thousands) Interest cost $ 5,542 $ 5,713 $ 6,681 Expected return on plan assets (15,912 ) (15,163 ) (14,539 ) Amortization of net loss 625 381 294 Total net periodic pension income $ (9,745 ) $ (9,069 ) $ (7,564 )
Qualified and Non-Qualified Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income or Loss	Other changes in the qualified and non-qualified plan assets and benefit obligations recognized in other comprehensive income/loss for the years ended December 31, 2018 and 2017 were as follows: 2018 2017 (in thousands) Net loss $ 9,917 $ 3,843 Amortization of prior service cost (35 ) (35 ) Amortization of actuarial loss (625 ) (381 ) Total recognized in other comprehensive income $ 9,257 $ 3,427 Total recognized in net periodic pension income and other comprehensive income/loss (before tax) $ (453 ) $ (5,607 )
Schedule of Expected Future Benefit Payments	The benefit payments, which reflect expected future service, as appropriate, expected to be paid in future years are presented in the following table: Year Amount (in thousands) 2019 $ 8,213 2020 8,491 2021 8,764 2022 8,938 2023 9,182 Thereafter 47,835
Weighted Average Discount Rate	The weighted average discount rate, expected long-term rate of return on assets and rate of compensation increase used in determining Valley’s pension expense for the years ended December 31, 2018 , 2017 and 2016 were as follows: 2018 2017 2016 Discount rate 3.69 % 4.12 % 4.33 % Expected long-term return on plan assets 7.50 % 7.50 % 7.50 % Rate of compensation increase N/A N/A N/A
Fair Value Measurement	The following table presents the qualified plan weighted-average asset allocations by asset category that are measured at fair value on a recurring basis by level within the fair value hierarchy under ASC Topic 820. Financial assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. See Note 3 for further details regarding the fair value hierarchy. Fair Value Measurements at Reporting Date Using: % of Total Investments December 31, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) ($ in thousands) Assets: Investments: Equity securities 28 % $ 59,447 $ 59,447 $ — $ — Corporate bonds 24 50,889 — 50,889 — Mutual funds 17 36,293 36,293 — — U.S. Treasury securities 24 50,838 50,838 — — Cash and money market funds 4 7,429 7,429 — — U.S. government agency securities 3 4,952 — 4,952 — Total investments 100 % $ 209,848 $ 154,007 $ 55,841 $ — Fair Value Measurements at Reporting Date Using: % of Total Investments December 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) ($ in thousands) Assets: Investments: Equity securities 38 % $ 84,791 $ 84,791 $ — $ — Corporate bonds 22 47,471 — 47,471 — Mutual funds 23 48,814 48,814 — — U.S. Treasury securities 13 28,671 28,671 — — Cash and money market funds 4 9,522 9,522 — — U.S. government agency securities * 1,862 — 1,862 — Total investments 100 % $ 221,131 $ 171,798 $ 49,333 $ — * Represents less than one percent of total investments.
Changes in Restricted Stock Awards Outstanding	The following table sets forth the changes in restricted stock awards (RSAs) outstanding for the years ended December 31, 2018 , 2017 and 2016 : Restricted Stock Awards Outstanding 2018 2017 2016 Outstanding at beginning of year 1,771,702 2,100,816 2,755,138 Granted 1,263,144 608,786 544,307 Vested (1,128,521 ) (736,575 ) (1,050,293 ) Forfeited (185,357 ) (201,325 ) (148,336 ) Outstanding at end of year 1,720,968 1,771,702 2,100,816
Changes in RSUs Outstanding	The following table sets forth the changes in RSUs outstanding for the years ended December 31, 2018 , 2017 and 2016 : Restricted Stock Units Outstanding 2018 2017 2016 Outstanding at beginning of year 1,114,962 744,281 313,212 Acquired from USAB 336,379 — — Granted 509,725 370,681 431,069 Vested (503,879 ) — — Forfeited (78,301 ) — — Outstanding at end of year 1,378,886 1,114,962 744,281
Stock Options Activity	The following table summarizes stock options activity as of December 31, 2018 , 2017 and 2016 and changes during the years ended on those dates: 2018 2017 2016 Weighted Average Exercise Weighted Average Exercise Weighted Average Exercise Stock Options Shares Price Shares Price Shares Price Outstanding at beginning of year 446,980 $ 13 732,489 $ 14 1,383,365 $ 16 Acquired from USAB 1,803,165 5 — — — — Exercised (975,325 ) 5 — — — — Forfeited or expired (223,033 ) 14 (285,509 ) 16 (650,876 ) 18 Outstanding at end of year 1,051,787 7 446,980 13 732,489 14 Exercisable at year-end 604,003 7 446,980 13 632,489 14
Stock Options Outstanding and Exercisable	The following table summarizes information about stock options outstanding and exercisable at December 31, 2018 : Options Outstanding and Exercisable Range of Exercise Prices Number of Options Weighted Average Remaining Contractual Life in Years Weighted Average Exercise Price $2-$4 40,870 2.9 $ 3 4-6 284,912 5.1 5 6-10 42,094 7.6 7 10-18 236,127 1.9 12 604,003 3.9 7
Changes in Director's Restricted Stock Awards	The following table sets forth the changes in director’s restricted stock awards outstanding for the years ended December 31, 2018 , 2017 and 2016: Restricted Stock Awards Outstanding 2018 2017 2016 Outstanding at beginning of year 17,885 55,510 80,117 Vested (17,885 ) (37,625 ) (24,607 ) Outstanding at end of year — 17,885 55,510

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Summary of Income Tax Expense	Income tax expense for the years ended December 31, 2018 , 2017 and 2016 consisted of the following: 2018 2017 2016 (in thousands) Current expense: Federal $ 51,147 $ 8,483 $ 25,176 State 28,898 5,500 12,904 80,045 13,983 38,080 Deferred (benefit) expense: Federal (17,463 ) 49,169 10,658 State 5,683 27,679 16,496 (11,780 ) 76,848 27,154 Total income tax expense $ 68,265 $ 90,831 $ 65,234
Summary of Deferred Tax Assets and Liabilities	The tax effects of temporary differences that gave rise to the significant portions of the deferred tax assets and liabilities as of December 31, 2018 and 2017 are as follows: 2018 2017 (in thousands) Deferred tax assets: Allowance for loan losses $ 42,882 $ 34,885 Depreciation 19,111 8,336 Employee benefits 13,301 10,596 Investment securities, including other-than-temporary impairment losses 13,222 5,021 Net operating loss carryforwards 21,570 30,658 Purchase accounting 33,629 18,819 Capital loss carryforward 830 — Other 21,274 21,930 Total deferred tax assets 165,819 130,245 Deferred tax liabilities: Pension plans 18,786 18,912 Other investments 17,758 13,234 Deferred income — 37,952 Core deposit intangibles 14,223 5,182 Other 8,858 7,469 Total deferred tax liabilities 59,625 82,749 Valuation Allowance 733 — Net deferred tax asset (included in other assets) $ 105,461 $ 47,496
Summary of Income Tax Reconciliation	Reconciliation between the reported income tax expense and the amount computed by multiplying consolidated income before taxes by the statutory federal income tax rate of 21 percent for the year ended December 31, 2018 , and 35 percent for the years ended December 31, 2017 and 2016 were as follows: 2018 2017 2016 (in thousands) Federal income tax at expected statutory rate $ 69,235 $ 88,458 $ 81,683 Increase (decrease) due to: State income tax expense, net of federal tax effect 23,851 21,046 19,197 Tax-exempt interest, net of interest incurred to carry tax-exempt securities (3,974 ) (5,245 ) (5,308 ) Bank owned life insurance (1,734 ) (2,568 ) (2,343 ) Tax credits from securities and other investments (20,798 ) (27,037 ) (25,954 ) FDIC insurance premium 3,318 — — Impact of the Tax Act (2,274 ) 15,441 — Other, net 641 736 (2,041 ) Income tax expense $ 68,265 $ 90,831 $ 65,234
Summary of Reconciliation of Gross Unrecognized Tax Benefits	A reconciliation of Valley’s gross unrecognized tax benefits for 2018 , 2017 and 2016 are presented in the table below: 2018 2017 2016 (in thousands) Beginning balance $ 4,238 $ 16,144 $ 19,892 Additions based on tax positions related to prior years — 1,121 3,958 Settlements with taxing authorities — (13,027 ) (4,820 ) Reductions due to expiration of statute of limitations (4,238 ) — (2,886 ) Ending balance $ — $ 4,238 $ 16,144

Tax Credit Investments (Tables)

Tax Credit Investments (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2018 and 2017 : December 31, 2018 2017 (in thousands) Other Assets: Affordable housing tax credit investments, net $ 36,961 $ 22,135 Other tax credit investments, net 68,052 42,015 Total tax credit investments, net $ 105,013 $ 64,150 Other Liabilities: Unfunded affordable housing tax credit commitments $ 4,520 $ 3,690 Unfunded other tax credit commitments 8,756 15,020 Total unfunded tax credit commitments $ 13,276 $ 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 years ended December 31, 2018 , 2017 and 2016 : 2018 2017 2016 (in thousands) Components of Income Tax Expense: Affordable housing tax credits and other tax benefits $ 6,713 $ 7,383 $ 5,013 Other tax credit investment credits and tax benefits 21,351 35,530 33,294 Total reduction in income tax expense $ 28,064 $ 42,913 $ 38,307 Amortization of Tax Credit Investments: Affordable housing tax credit investment losses $ 1,880 $ 2,748 $ 2,077 Affordable housing tax credit investment impairment losses* 2,544 4,684 450 Other tax credit investment losses 1,970 2,866 790 Other tax credit investment impairment losses* 17,806 31,449 31,427 Total amortization of tax credit investments recorded in non-interest expense $ 24,200 $ 41,747 $ 34,744 * As a result of the Tax Act, Valley incurred additional impairment of $2.2 million and $2.1 million related to affordable housing tax credit investments and other tax credit investments, respectively, during the fourth quarter of 2017.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Minimum Aggregate Lease Payments	Minimum aggregate lease payments for the remainder of the lease terms are as follows: Sublease Year Gross Rents Rents Net Rents (in thousands) 2019 $ 29,093 $ 2,382 $ 26,711 2020 29,379 2,290 27,089 2021 28,925 2,160 26,765 2022 27,562 2,002 25,560 2023 25,064 1,938 23,126 Thereafter 262,200 8,558 253,642 Total lease commitments $ 402,223 $ 19,330 $ 382,893
Summary of Financial Instruments with Off-Balance Sheet Risk	The following table provides a summary of financial instruments with off-balance sheet risk at December 31, 2018 and 2017 : 2018 2017 (in thousands) Commitments under commercial loans and lines of credit $ 5,164,186 $ 3,401,653 Home equity and other revolving lines of credit 1,178,306 1,006,329 Standby letters of credit 316,941 250,536 Outstanding residential mortgage loan commitments 235,310 192,685 Commitments under unused lines of credit—credit card 66,229 54,906 Commitments to sell loans 58,897 57,405 Commercial letters of credit 3,100 2,115
Consolidated Statements of Financial Condition Related to Fair Value of Derivative Financial Instruments	Amounts included in the consolidated statements of financial condition related to the fair value of Valley’s derivative financial instruments were as follows: December 31, 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 caps and swaps $ — $ 27 $ 332,000 $ 650 $ 81 $ 607,000 Fair value hedge interest rate swaps — 347 7,536 — 637 7,775 Total derivatives designated as hedging instruments $ — $ 374 $ 339,536 $ 650 $ 718 $ 614,775 Derivatives not designated as hedging instruments: Interest rate swaps, and embedded and credit derivatives $ 48,642 $ 22,533 $ 3,390,578 $ 25,696 $ 23,494 $ 1,687,005 Mortgage banking derivatives 337 774 105,247 71 118 113,233 Total derivatives not designated as hedging instruments $ 48,979 $ 23,307 $ 3,495,825 $ 25,767 $ 23,612 $ 1,800,238
Gains (Losses) Related to Interest Rate Derivatives Designated as Hedges of Cash Flows	Gains (losses) included in the consolidated statements of income and in other comprehensive income (loss), on a pre-tax basis, related to interest rate derivatives designated as hedges of cash flows were as follows: 2018 2017 2016 (in thousands) Amount of loss reclassified from accumulated other comprehensive loss to interest expense $ (3,493 ) $ (8,579 ) $ (13,034 ) Amount of gain (loss) recognized in other comprehensive income 2,651 1,005 (4,035 )
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: 2018 2017 2016 (in thousands) Derivative—interest rate swaps: Interest income $ 290 $ 348 $ 320 Interest expense — — 6,670 Hedged item—loans, deposits and long-term borrowings: Interest income $ (290 ) $ (348 ) $ (320 ) Interest expense — — (6,645 )
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 December 31, 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 2018 2017 2018 2017 (in thousands) Loans $ 7,882 $ 8,412 $ 346 $ 637
Net (Losses) Gains Related to Derivative Instruments Not Designated as Hedging Instruments	Net (losses) gains included in the consolidated statements of income related to derivative instruments not designated as hedging instruments were as follows: 2018 2017 2016 (in thousands) Non-designated hedge interest rate and credit derivatives Other non-interest expense $ (792 ) $ (744 ) $ 690

Balance Sheet Offsetting (Table

Balance Sheet Offsetting (Tables)	12 Months Ended
	Dec. 31, 2018
Offsetting [Abstract]
Summary of Valley's Financial Instruments that are Eligible for Offset, Assets	The table below presents information about Valley’s financial instruments that are eligible for offset in the consolidated statements of financial condition as of December 31, 2018 and 2017 . Gross Amounts Not Offset Gross Amounts Recognized Gross Amounts Offset Net Amounts Presented Financial Instruments Cash Collateral Net Amount (in thousands) December 31, 2018 Assets: Interest rate caps and swaps $ 48,642 $ — $ 48,642 $ (1,214 ) $ — $ 47,428 Liabilities: Interest rate caps and swaps $ 22,907 $ — $ 22,907 $ (1,214 ) $ (1,852 ) $ 19,841 Repurchase agreements 150,000 — 150,000 — (150,000 ) * — Total $ 172,907 $ — $ 172,907 $ (1,214 ) $ (151,852 ) $ 19,841 December 31, 2017 Assets: Interest rate caps and swaps $ 26,346 $ — $ 26,346 $ (5,376 ) $ — $ 20,970 Liabilities: Interest rate caps and swaps $ 24,212 $ — $ 24,212 $ (5,376 ) $ (8,141 ) $ 10,695 Repurchase agreements 200,000 — 200,000 — (200,000 ) * — Total $ 224,212 $ — $ 224,212 $ (5,376 ) $ (208,141 ) $ 10,695 * Represents the fair value of non-cash pledged investment securities.
Summary of Valley's Financial Instruments that are Eligible for Offset, Liabilities	The table below presents information about Valley’s financial instruments that are eligible for offset in the consolidated statements of financial condition as of December 31, 2018 and 2017 . Gross Amounts Not Offset Gross Amounts Recognized Gross Amounts Offset Net Amounts Presented Financial Instruments Cash Collateral Net Amount (in thousands) December 31, 2018 Assets: Interest rate caps and swaps $ 48,642 $ — $ 48,642 $ (1,214 ) $ — $ 47,428 Liabilities: Interest rate caps and swaps $ 22,907 $ — $ 22,907 $ (1,214 ) $ (1,852 ) $ 19,841 Repurchase agreements 150,000 — 150,000 — (150,000 ) * — Total $ 172,907 $ — $ 172,907 $ (1,214 ) $ (151,852 ) $ 19,841 December 31, 2017 Assets: Interest rate caps and swaps $ 26,346 $ — $ 26,346 $ (5,376 ) $ — $ 20,970 Liabilities: Interest rate caps and swaps $ 24,212 $ — $ 24,212 $ (5,376 ) $ (8,141 ) $ 10,695 Repurchase agreements 200,000 — 200,000 — (200,000 ) * — Total $ 224,212 $ — $ 224,212 $ (5,376 ) $ (208,141 ) $ 10,695 * Represents the fair value of non-cash pledged investment securities.

Regulatory and Capital Requir_2

Regulatory and Capital Requirements (Tables)	12 Months Ended
	Dec. 31, 2018
Banking and Thrift [Abstract]
Schedule of Actual Capital Positions and Ratios under Banking Regulations	The following table presents Valley’s and Valley National Bank’s actual capital positions and ratios under the Basel III risk-based capital guidelines at December 31, 2018 and 2017 : Actual Minimum Capital Requirements To Be Well Capitalized Under Prompt Corrective Action Provision Amount Ratio Amount Ratio Amount Ratio ($ in thousands) As of December 31, 2018 Total Risk-based Capital Valley $ 2,786,971 11.34 % $ 2,426,975 9.875 % N/A N/A Valley National Bank 2,698,654 10.99 2,424,059 9.875 $ 2,454,743 10.00 % Common Equity Tier 1 Capital Valley 2,071,871 8.43 1,566,781 6.375 N/A N/A Valley National Bank 2,442,359 9.95 1,564,899 6.375 1,595,583 6.50 Tier 1 Risk-based Capital Valley 2,286,676 9.30 1,935,435 7.875 N/A N/A Valley National Bank 2,442,359 9.95 1,933,110 7.875 1,963,794 8.00 Tier 1 Leverage Capital Valley 2,286,676 7.57 1,208,882 4.00 N/A N/A Valley National Bank 2,442,359 8.09 1,207,039 4.00 1,508,798 5.00 As of December 31, 2017 Total Risk-based Capital Valley $ 2,258,044 12.61 % $ 1,656,575 9.250 % N/A N/A Valley National Bank 2,185,967 12.23 1,653,088 9.250 $ 1,787,122 10.00 % Common Equity Tier 1 Capital Valley 1,651,849 9.22 1,029,763 5.750 N/A N/A Valley National Bank 1,961,316 10.97 1,027,595 5.750 1,161,629 6.50 Tier 1 Risk-based Capital Valley 1,864,279 10.41 1,298,397 7.250 N/A N/A Valley National Bank 1,961,316 10.97 1,295,663 7.250 1,429,698 8.00 Tier 1 Leverage Capital Valley 1,864,279 8.03 928,484 4.00 N/A N/A Valley National Bank 1,961,316 8.47 926,459 4.00 1,158,074 5.00

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Schedule of Comprehensive Income	The following table presents the tax effects allocated to each component of other comprehensive income (loss) for the years ended December 31, 2018 , 2017 and 2016 . Components of other comprehensive income (loss) include changes in net unrealized gains and losses on securities available for sale (including the non-credit portion of other-than-temporary impairment charges relating to certain securities during the period); unrealized gains and losses on derivatives used in cash flow hedging relationships; and the pension benefit adjustment for the unfunded portion of various employee, officer and director pension plans. 2018 2017 2016 Before Tax Tax Effect After Tax Before Tax Tax Effect After Tax Before Tax Tax Effect After Tax (in thousands) Unrealized gains and losses on available for sale (AFS) securities Net (losses) gains arising during the period $ (32,123 ) $ 9,191 $ (22,932 ) $ 636 $ (284 ) $ 352 $ (7,294 ) $ 3,001 $ (4,293 ) Less reclassification adjustment for net losses (gains) included in net income (1) 2,342 (485 ) 1,857 20 (9 ) 11 (777 ) 312 (465 ) Net change (29,781 ) 8,706 (21,075 ) 656 (293 ) 363 (8,071 ) 3,313 (4,758 ) Non-credit impairment losses on securities available for sale and held to maturity Net change in non-credit impairment losses on securities — — — 849 (351 ) 498 719 (302 ) 417 Less reclassification adjustment for accretion of credit impairment losses included in net income (2) 531 (151 ) 380 (284 ) 117 (167 ) (921 ) 382 (539 ) Net change 531 (151 ) 380 565 (234 ) 331 (202 ) 80 (122 ) Unrealized gains and losses on derivatives (cash flow hedges) Net gains (losses) arising during the period 2,651 (777 ) 1,874 1,005 (429 ) 576 (4,035 ) 1,574 (2,461 ) Less reclassification adjustment for net losses included in net income (3) 3,493 (999 ) 2,494 8,579 (3,551 ) 5,028 13,034 (5,393 ) 7,641 Net change 6,144 (1,776 ) 4,368 9,584 (3,980 ) 5,604 8,999 (3,819 ) 5,180 Defined benefit pension plan Net (losses) gains arising during the period (9,916 ) 2,765 (7,151 ) (3,843 ) 1,121 (2,722 ) 5,837 (2,539 ) 3,298 Amortization of prior service credit (cost) (4) 212 (66 ) 146 268 (77 ) 191 (300 ) 119 (181 ) Amortization of net loss (4) 625 (178 ) 447 381 (133 ) 248 294 (109 ) 185 Net change (9,079 ) 2,521 (6,558 ) (3,194 ) 911 (2,283 ) 5,831 (2,529 ) 3,302 Total other comprehensive (loss) income $ (32,185 ) $ 9,300 $ (22,885 ) $ 7,611 $ (3,596 ) $ 4,015 $ 6,557 $ (2,955 ) $ 3,602 (1) Included in (losses) gains on securities transactions, net. (2) Included in interest and dividends on investment securities (taxable). (3) Included in interest expense. (4) Included in the computation of net periodic pension cost. See Note 12 for details.
Schedule of Accumulated Other Comprehensive Loss	The following table presents the after-tax changes in the balances of each component of accumulated other comprehensive loss for the years ended December 31, 2018 , 2017 and 2016 : Components of Accumulated Other Comprehensive Loss Total Accumulated Other Comprehensive Loss Unrealized Gains and Losses on AFS Securities Non-credit Impairment Losses on Securities Unrealized Gains and Losses on Derivatives Defined Benefit Pension Plan (in thousands) Balance-December 31, 2015 $ (5,336 ) $ (520 ) $ (17,644 ) $ (22,195 ) $ (45,695 ) Other comprehensive (loss) income before reclassifications (4,293 ) 417 (2,461 ) 3,298 (3,039 ) Amounts reclassified from other comprehensive (loss) income (465 ) (539 ) 7,641 4 6,641 Other comprehensive (loss) income, net (4,758 ) (122 ) 5,180 3,302 3,602 Balance-December 31, 2016 (10,094 ) (642 ) (12,464 ) (18,893 ) (42,093 ) Other comprehensive income (loss) before reclassifications 352 498 576 (2,722 ) (1,296 ) Amounts reclassified from other comprehensive income (loss) 11 (167 ) 5,028 439 5,311 Other comprehensive income (loss), net 363 331 5,604 (2,283 ) 4,015 Reclassification due to the adoption of ASU No. 2018-02 (2,273 ) (69 ) (1,478 ) (4,107 ) (7,927 ) Balance-December 31, 2017 (12,004 ) (380 ) (8,338 ) (25,283 ) (46,005 ) 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-January 1, 2018 (12,484 ) (380 ) (8,399 ) (25,283 ) (46,546 ) Other comprehensive (loss) income before reclassifications (22,932 ) — 1,874 (7,151 ) (28,209 ) Amounts reclassified from other comprehensive (loss) income 1,857 380 2,494 593 5,324 Other comprehensive (loss) income, net (21,075 ) 380 4,368 (6,558 ) (22,885 ) Balance-December 31, 2018 $ (33,559 ) $ — $ (4,031 ) $ (31,841 ) $ (69,431 )

Quarterly Financial Data (Table

Quarterly Financial Data (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Summary of Quarterly Financial Data	Quarters Ended 2018 March 31 June 30 September 30 December 31 (in thousands, except for share data) Interest income $ 267,495 $ 280,118 $ 297,041 $ 314,594 Interest expense 59,897 69,366 80,241 92,541 Net interest income 207,598 210,752 216,800 222,053 Provision for credit losses 10,948 7,142 6,552 7,859 Non-interest income: Gains on sales of loans, net 6,753 7,642 3,748 2,372 Other non-interest income 25,498 30,427 25,290 32,322 Non-interest expense: Amortization of tax credit investments 5,274 4,470 5,412 9,044 Other non-interest expense 168,478 145,446 146,269 144,668 Income before income taxes 55,149 91,763 87,605 95,176 Income tax expense 13,184 18,961 18,046 18,074 Net income 41,965 72,802 69,559 77,102 Dividend on preferred stock 3,172 3,172 3,172 3,172 Net income available to common shareholders 38,793 69,630 66,387 73,930 Earnings per common share: Basic $ 0.12 $ 0.21 $ 0.20 $ 0.22 Diluted 0.12 0.21 0.20 0.22 Cash dividends declared per common share 0.11 0.11 0.11 0.11 Weighted average number of common shares outstanding: Basic 330,727,416 331,318,381 331,486,500 331,492,648 Diluted 332,465,527 332,895,483 333,000,242 332,856,385 Quarters Ended 2017 March 31 June 30 September 30 December 31 (in thousands, except for share data) Interest income $ 198,455 $ 207,007 $ 210,741 $ 217,951 Interest expense 36,587 42,187 46,796 48,537 Net interest income 161,868 164,820 163,945 169,414 Provision for credit losses 2,470 3,632 1,640 2,200 Non-interest income: Gains on sales of loans, net 4,128 4,791 5,520 6,375 Other non-interest income 21,592 24,039 21,477 23,784 Non-interest expense: Amortization of tax credit investments 5,324 7,732 8,389 20,302 Other non-interest expense 115,628 111,507 124,176 116,015 Income before income taxes 64,166 70,779 56,737 61,056 Income tax expense 18,071 20,714 17,088 34,958 Net income 46,095 50,065 39,649 26,098 Dividend on preferred stock 1,797 1,797 2,683 3,172 Net income available to common shareholders 44,298 48,268 36,966 22,926 Earnings per common share: Basic $ 0.17 $ 0.18 $ 0.14 $ 0.09 Diluted 0.17 0.18 0.14 0.09 Cash dividends declared per common share 0.11 0.11 0.11 0.11 Weighted average number of common shares outstanding: Basic 263,797,024 263,958,292 264,058,174 264,332,895 Diluted 264,546,266 264,778,242 264,936,220 265,288,067

Parent Company Information (Tab

Parent Company Information (Tables)	12 Months Ended
	Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]
Schedule of Condensed Statements of Financial Condition	Condensed Statements of Financial Condition December 31, 2018 2017 (in thousands) Assets Cash $ 109,839 $ 90,807 Investment securities available for sale — 254 Investments in and receivables due from subsidiaries 3,609,836 2,738,700 Other assets 32,721 36,277 Total Assets $ 3,752,396 $ 2,866,038 Liabilities and Shareholders’ Equity Dividends payable to shareholders $ 37,644 $ 33,100 Long-term borrowings 294,602 235,153 Junior subordinated debentures issued to capital trusts 55,370 41,774 Accrued expenses and other liabilities 14,326 22,846 Shareholders’ equity 3,350,454 2,533,165 Total Liabilities and Shareholders’ Equity $ 3,752,396 $ 2,866,038
Schedule of Condensed Statements of Income	Condensed Statements of Income Years Ended December 31, 2018 2017 2016 (in thousands) Income Dividends from subsidiary $ 155,000 $ 122,000 $ 90,000 Income from subsidiary 4,550 4,550 4,550 Gains on securities transactions, net 3 — 239 Losses on sales of assets, net (147 ) — — Other interest and income 39 135 34 Total Income 159,445 126,685 94,823 Total Expenses 32,269 39,621 33,604 Income before income tax and equity in undistributed earnings of subsidiary 127,176 87,064 61,219 Income tax benefit (20,547 ) (30,179 ) (23,349 ) Income before equity in undistributed earnings of subsidiary 147,723 117,243 84,568 Equity in undistributed earnings of subsidiary 113,705 44,664 83,578 Net Income 261,428 161,907 168,146 Dividends on preferred stock 12,688 9,449 7,188 Net Income Available to Common Shareholders $ 248,740 $ 152,458 $ 160,958
Schedule of Condensed Statements of Cash Flows	Condensed Statements of Cash Flows Years Ended December 31, 2018 2017 2016 (in thousands) Cash flows from operating activities: Net Income $ 261,428 $ 161,907 $ 168,146 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed earnings of subsidiary (113,705 ) (44,664 ) (83,578 ) Stock-based compensation 19,472 12,204 10,032 Net amortization of premiums and accretion of discounts on borrowings 63 197 163 Gains on securities transactions, net (3 ) — (239 ) Losses on sales of assets, net 147 — — Net change in: Other assets 9,928 (89 ) 8,007 Accrued expenses and other liabilities (10,657 ) 8,737 18,381 Net cash provided by operating activities 166,673 138,292 120,912 Cash flows from investing activities: Investment securities available for sale: Sales 257 — 739 Cash and cash equivalents acquired in acquisitions 7,915 — — Capital contributions to subsidiary — (98,000 ) (106,000 ) Net cash provided by (used in) investing activities 8,172 (98,000 ) (105,261 ) Cash flows from financing activities: Proceeds from issuance of preferred stock, net — 98,101 — Dividends paid to preferred shareholders (15,859 ) (6,277 ) (7,188 ) Dividends paid to common shareholders (138,857 ) (115,881 ) (111,813 ) Purchase of common shares to treasury (3,801 ) (2,644 ) (3,191 ) Common stock issued, net 2,704 8,207 112,085 Net cash used in financing activities (155,813 ) (18,494 ) (10,107 ) Net change in cash and cash equivalents 19,032 21,798 5,544 Cash and cash equivalents at beginning of year 90,807 69,009 63,465 Cash and cash equivalents at end of year $ 109,839 $ 90,807 $ 69,009

Business Segments (Tables)

Business Segments (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Schedule of Financial Data for Business Segments	The following tables represent the financial data for Valley’s four business segments for the years ended December 31, 2018 , 2017 and 2016 : Year Ended December 31, 2018 Consumer Lending Commercial Lending Investment Management Corporate and Other Adjustments Total ($ in thousands) Average interest earning assets (unaudited) $ 6,197,161 $ 17,143,169 $ 4,362,581 $ — $ 27,702,911 Interest income $ 235,264 $ 798,974 $ 130,971 $ (5,961 ) $ 1,159,248 Interest expense 64,083 177,273 45,112 15,577 302,045 Net interest income (loss) 171,181 621,701 85,859 (21,538 ) 857,203 Provision for credit losses 5,550 26,951 — — 32,501 Net interest income (loss) after provision for credit losses 165,631 594,750 85,859 (21,538 ) 824,702 Non-interest income 61,280 22,275 8,691 41,806 134,052 Non-interest expense 92,462 95,171 1,251 440,177 629,061 Internal expense transfer 77,164 213,399 54,353 (344,916 ) — Income (loss) before income taxes $ 57,285 $ 308,455 $ 38,946 $ (74,993 ) $ 329,693 Return on average interest earning assets (pre-tax) (unaudited) 0.92 % 1.80 % 0.89 % N/A 1.19 % Year Ended December 31, 2017 Consumer Lending Commercial Lending Investment Management Corporate and Other Adjustments Total ($ in thousands) Average interest earning assets (unaudited) $ 5,166,171 $ 12,652,832 $ 3,669,495 $ — $ 21,488,498 Interest income $ 182,508 $ 552,297 $ 107,972 $ (8,623 ) $ 834,154 Interest expense 39,018 95,562 27,714 11,813 174,107 Net interest income (loss) 143,490 456,735 80,258 (20,436 ) 660,047 Provision for credit losses 3,197 6,745 — — 9,942 Net interest income (loss) after provision for credit losses 140,293 449,990 80,258 (20,436 ) 650,105 Non-interest income 63,375 11,414 7,745 29,172 111,706 Non-interest expense 72,207 71,216 1,193 364,457 509,073 Internal expense transfer 68,007 166,847 48,393 (283,247 ) — Income (loss) before income taxes $ 63,454 $ 223,341 $ 38,417 $ (72,474 ) $ 252,738 Return on average interest earning assets (pre-tax) (unaudited) 1.23 % 1.77 % 1.05 % N/A 1.18 % Year Ended December 31, 2016 Consumer Lending Commercial Lending Investment Management Corporate and Other Adjustments Total ($ in thousands) Average interest earning assets (unaudited) $ 5,081,798 $ 11,318,947 $ 3,428,567 $ — $ 19,829,312 Interest income $ 176,929 $ 504,341 $ 89,378 $ (8,760 ) $ 761,888 Interest expense 35,175 78,347 23,732 11,520 148,774 Net interest income (loss) 141,754 425,994 65,646 (20,280 ) 613,114 Provision for credit losses 905 10,964 — — 11,869 Net interest income (loss) after provision for credit losses 140,849 415,030 65,646 (20,280 ) 601,245 Non-interest income 63,443 8,327 6,694 29,796 108,260 Non-interest expense 62,721 70,145 1,281 341,978 476,125 Internal expense transfer 71,578 160,198 48,475 (280,251 ) — Income (loss) before income taxes $ 69,993 $ 193,014 $ 22,584 $ (52,211 ) $ 233,380 Return on average interest earning assets (pre-tax) (unaudited) 1.38 % 1.71 % 0.66 % N/A 1.18 %

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail) shares in Millions	1 Months Ended		12 Months Ended
	Aug. 31, 2017shares	Jun. 30, 2015shares	Dec. 31, 2018USD ($)shareholdershares	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)shares	Jan. 01, 2019USD ($)	Jan. 01, 2018USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of shareholders needed to qualify as a REIT | shareholder			100
Percentage of preferred stock issued by each REIT - less than			20.00%
Reserve balance in cash or deposits			$ 120,700,000	$ 122,000,000
Allowance for loan losses			151,859,000	120,856,000	$ 114,419,000
OREO and other repossessed assets total			9,500,000	9,800,000
Foreclosed residential real estate properties			852,000	7,300,000
Properties for which formal foreclosure proceedings are in process			$ 1,800,000	$ 3,800,000
Anti-dilutive common stock options and warrants (in shares) | shares			2.1	3.1	4
Risk-based capital actual, ratio			11.34%	12.61%
Tier 1 risk-based capital actual, ratio			9.30%	10.41%
Noncumulative Preferred Stock
Summary Of Significant Accounting Policies [Line Items]
Stock issued (in shares) | shares	4	4.6
Minimum
Summary Of Significant Accounting Policies [Line Items]
Premises and equipment, useful life			3 years
Maximum
Summary Of Significant Accounting Policies [Line Items]
Premises and equipment, useful life			40 years
Commercial and industrial
Summary Of Significant Accounting Policies [Line Items]
Allowance for loan losses			$ 90,956,000	$ 57,232,000	$ 50,820,000
Loans evaluated for impairment			250,000
PCI Loans
Summary Of Significant Accounting Policies [Line Items]
Allowance for loan losses			0	0
PCI Loans
Summary Of Significant Accounting Policies [Line Items]
Covered loans			27,600,000	38,700,000
ASU 2016-16
Summary Of Significant Accounting Policies [Line Items]
Reclassification due to the adoption of an ASU							$ (17,611,000)
ASU 2016-02 | Forecast
Summary Of Significant Accounting Policies [Line Items]
Right-of-use asset						$ 216,000,000
Lease obligations						$ 241,000,000
ASU 2016-02 | Forecast | Minimum
Summary Of Significant Accounting Policies [Line Items]
Risk-based capital actual, ratio						10.00%
Tier 1 risk-based capital actual, ratio						7.00%
ASU 2016-02 | Forecast | Maximum
Summary Of Significant Accounting Policies [Line Items]
Risk-based capital actual, ratio						12.00%
Tier 1 risk-based capital actual, ratio						9.00%
Retained Earnings | ASU 2016-16
Summary Of Significant Accounting Policies [Line Items]
Reclassification due to the adoption of an ASU							$ (17,611,000)
Retained Earnings | ASU 2016-02 | Forecast
Summary Of Significant Accounting Policies [Line Items]
Reclassification due to the adoption of an ASU						$ 6,200,000
Trust preferred securities
Summary Of Significant Accounting Policies [Line Items]
Other-than-temporary impairment			$ 0	$ 0	$ 0
Commitments under commercial loans and lines of credit | Minimum
Summary Of Significant Accounting Policies [Line Items]
Number of days past due of loans to be full or partial charged-off			90 days
Commitments under commercial loans and lines of credit | Maximum
Summary Of Significant Accounting Policies [Line Items]
Number of days past due of loans to be full or partial charged-off			120 days
Residential mortgage and home equity
Summary Of Significant Accounting Policies [Line Items]
Number of days past due of loans to be full or partial charged-off			120 days
Automobile
Summary Of Significant Accounting Policies [Line Items]
Number of days past due of loans to be fully charged-off			120 days
Unsecured loans at banks
Summary Of Significant Accounting Policies [Line Items]
Number of days past due of loans to be fully charged-off			150 days

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Calculation of Both Basic and Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Earnings Per Common Share:
Net income available to common shareholders	$ 73,930	$ 66,387	$ 69,630	$ 38,793	$ 22,926	$ 36,966	$ 48,268	$ 44,298	$ 248,740	$ 152,458	$ 160,958
Basic weighted-average number of common shares outstanding (in shares)	331,492,648	331,486,500	331,318,381	330,727,416	264,332,895	264,058,174	263,958,292	263,797,024	331,258,964	264,038,123	254,841,571
Plus: Common stock equivalents (in shares)									1,434,754	850,884	426,765
Diluted weighted-average number of common shares outstanding (in shares)	332,856,385	333,000,242	332,895,483	332,465,527	265,288,067	264,936,220	264,778,242	264,546,266	332,693,718	264,889,007	255,268,336
Earnings per common share:
Basic (in usd per share)	$ 0.22	$ 0.20	$ 0.21	$ 0.12	$ 0.09	$ 0.14	$ 0.18	$ 0.17	$ 0.75	$ 0.58	$ 0.63
Diluted (in usd per share)	$ 0.22	$ 0.20	$ 0.21	$ 0.12	$ 0.09	$ 0.14	$ 0.18	$ 0.17	$ 0.75	$ 0.58	$ 0.63

Business Combinations (Detail)

Business Combinations (Detail) $ in Thousands, shares in Millions	Jan. 01, 2018USD ($)officeshares	Dec. 31, 2018USD ($)office	Dec. 31, 2017USD ($)
Business Acquisition [Line Items]
Loans		$ 24,883,610	$ 18,210,724
Goodwill from business combinations		$ 394,028
Core deposits
Business Acquisition [Line Items]
Estimated useful life		8 years
USAmeriBancorp, Inc.
Business Acquisition [Line Items]
Assets	$ 5,079,432
Loans	3,736,984
Deposits	$ 3,564,843
Number of branches acquired | office		29
Conversion ratio for shares issued	6.1
Total consideration	$ 737,230
Shares issued in connection with acquisition | shares	64.9
Merger expenses		$ 17,400
Goodwill from business combinations		$ 5,800
USAmeriBancorp, Inc. | Alabama
Business Acquisition [Line Items]
Number of branches acquired | office	15
USAmeriBancorp, Inc. | Core deposits
Business Acquisition [Line Items]
Estimated useful life		10 years

Business Combinations Assets Ac

Business Combinations Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets acquired:
Loans	$ 24,883,610		$ 18,210,724
Goodwill	1,084,665		690,637	$ 690,637
Deposits:
Savings, NOW and money market	$ 11,213,495		$ 9,365,013
USAmeriBancorp, Inc.
Assets acquired:
Cash and cash equivalents		$ 156,612
Loans		3,736,984
Premises and equipment		62,066
Bank owned life insurance		49,052
Accrued interest receivable		12,123
Goodwill		394,028
Other intangible assets		45,906
Other assets:
Deferred taxes		10,623
Other real estate owned		4,073
FHLB and FRB stock		38,809
Tax credit investments		20,138
Other		26,416
Total other assets		100,059
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

Fair Value Measurement of Ass_3

Fair Value Measurement of Assets and Liabilities - Schedule of Assets and Liabilities Measured at Fair Value on Recurring and Non-Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets
Available for sale	$ 1,749,544	$ 1,493,905
Liabilities
Foreclosed assets	9,500	9,800
Loans held for sale (which consist of residential mortgages) carried at fair value	34,600	14,800
U.S. Treasury securities
Assets
Available for sale	49,306	49,642
U.S. government agency securities
Assets
Available for sale	36,277	42,505
Obligations of states and political subdivisions
Assets
Available for sale	197,092	112,884
Residential mortgage-backed securities
Assets
Available for sale	1,429,782	1,223,295
Trust preferred securities
Assets
Available for sale		3,214
Corporate and other debt securities
Assets
Available for sale	37,087	51,164
Equity securities
Assets
Available for sale		11,201
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring fair value measurements
Assets
Available for sale	49,306
Available for sale		58,807
Loans held for sale	0	0
Other assets	0	0
Total assets	49,306	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
Assets
Available for sale	49,306
Available for sale		49,642
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring fair value measurements | U.S. government agency securities
Assets
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
Assets
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
Assets
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
Assets
Available for sale		0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring fair value measurements | Corporate and other debt securities
Assets
Available for sale	0
Available for sale		7,783
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring fair value measurements | Equity securities
Assets
Available for sale		1,382
Quoted Prices in Active Markets for Identical Assets (Level 1) | Non-recurring fair value measurements
Liabilities
Collateral dependent impaired loans	0	0
Loan servicing rights	0	0
Foreclosed assets	0	0
Total	0	0
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements
Assets
Available for sale	1,700,238
Available for sale		1,427,738
Loans held for sale	35,155	15,119
Other assets	48,979	26,417
Total assets	1,784,372	1,469,274
Liabilities
Other liabilities	23,681	24,330
Total liabilities	23,681	24,330
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | U.S. Treasury securities
Assets
Available for sale	0
Available for sale		0
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | U.S. government agency securities
Assets
Available for sale	36,277
Available for sale		42,505
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Obligations of states and political subdivisions
Assets
Available for sale	197,092
Available for sale		112,884
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Residential mortgage-backed securities
Assets
Available for sale	1,429,782
Available for sale		1,215,935
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Trust preferred securities
Assets
Available for sale		3,214
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Corporate and other debt securities
Assets
Available for sale	37,087
Available for sale		43,381
Significant Other Observable Inputs (Level 2) | Recurring fair value measurements | Equity securities
Assets
Available for sale		9,819
Significant Other Observable Inputs (Level 2) | Non-recurring fair value measurements
Liabilities
Collateral dependent impaired loans	0	0
Loan servicing rights	0	0
Foreclosed assets	0	0
Total	0	0
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements
Assets
Available for sale	0
Available for sale		7,360
Loans held for sale	0	0
Other assets	0	0
Total assets	0	7,360
Liabilities
Other liabilities	0	0
Total liabilities	0	0
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | U.S. Treasury securities
Assets
Available for sale	0
Available for sale		0
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | U.S. government agency securities
Assets
Available for sale	0
Available for sale		0
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | Obligations of states and political subdivisions
Assets
Available for sale	0
Available for sale		0
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | Residential mortgage-backed securities
Assets
Available for sale	0
Available for sale		7,360
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | Trust preferred securities
Assets
Available for sale		0
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | Corporate and other debt securities
Assets
Available for sale	0
Available for sale		0
Significant Unobservable Inputs (Level 3) | Recurring fair value measurements | Equity securities
Assets
Available for sale		0
Significant Unobservable Inputs (Level 3) | Non-recurring fair value measurements
Liabilities
Collateral dependent impaired loans	45,245	48,373
Loan servicing rights	273	5,350
Foreclosed assets	5,673	3,472
Total	51,191	57,195
Fair Value | Recurring fair value measurements
Assets
Available for sale	1,749,544
Available for sale		1,493,905
Loans held for sale	35,155	15,119
Other assets	48,979	26,417
Total assets	1,833,678	1,535,441
Liabilities
Other liabilities	23,681	24,330
Total liabilities	23,681	24,330
Fair Value | Recurring fair value measurements | U.S. Treasury securities
Assets
Available for sale	49,306
Available for sale		49,642
Fair Value | Recurring fair value measurements | U.S. government agency securities
Assets
Available for sale	36,277
Available for sale		42,505
Fair Value | Recurring fair value measurements | Obligations of states and political subdivisions
Assets
Available for sale	197,092
Available for sale		112,884
Fair Value | Recurring fair value measurements | Residential mortgage-backed securities
Assets
Available for sale	1,429,782
Available for sale		1,223,295
Fair Value | Recurring fair value measurements | Trust preferred securities
Assets
Available for sale		3,214
Fair Value | Recurring fair value measurements | Corporate and other debt securities
Assets
Available for sale	37,087
Available for sale		51,164
Fair Value | Recurring fair value measurements | Equity securities
Assets
Available for sale		11,201
Fair Value | Non-recurring fair value measurements
Liabilities
Collateral dependent impaired loans	45,245	48,373
Loan servicing rights	273	5,350
Foreclosed assets	5,673	3,472
Total	$ 51,191	$ 57,195

Fair Value Measurement of Ass_4

Fair Value Measurement of Assets and Liabilities - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)security	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral dependent loan charge-offs	$ 638	$ 2,100
Collateral dependent impaired loans, recorded investment	73,700	57,500
Specific valuation allowance allocations	28,500	9,100
Reported net carrying amount of impaired loans	$ 45,200	48,400
Valuation of loan servicing rights, discount rate	8.00%
Net impairment (recovery of impairment) on loan servicing rights	$ 388	429
Foreclosed assets measured at fair value upon initial recognition	5,700	3,500
Allowance for loan losses, charge-offs	2,000	1,900
Loss due to re-measurement of repossessed assets	$ 390	$ 361	$ 1,000
Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Valuation of loan servicing rights, prepayment rate	0.00%
Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Valuation of loan servicing rights, prepayment rate	24.00%
Significant Unobservable Inputs (Level 3) | Residential mortgage-backed securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Number of available for sale securities | security	4

Fair Value Measurement of Ass_5

Fair Value Measurement of Assets and Liabilities - Carrying Amounts and Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Interest bearing deposits with banks	$ 177,088	$ 172,800
Investment securities held to maturity	2,034,943	1,837,620
Accrued interest receivable	95,296	73,990
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Deposits with stated maturities	7,063,984	3,563,521
Carrying Amount
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	2,068,246	1,842,691
Carrying Amount | Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Cash and due from banks	251,541	234,310
Interest bearing deposits with banks	177,088	172,800
Accrued interest receivable	95,296	73,990
Federal Reserve Bank and Federal Home Loan Bank stock	232,080	178,668
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Deposits without stated maturities	17,388,990	14,589,941
Short-term borrowings	2,118,914	748,628
Accrued interest payable	25,762	14,161
Carrying Amount | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Treasury securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	138,517	138,676
Carrying Amount | Significant Other Observable Inputs (Level 2)
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Deposits with stated maturities	7,063,984	3,563,521
Long-term borrowings	1,654,268	2,315,819
Junior subordinated debentures issued to capital trusts	55,370	41,774
Carrying Amount | Significant Other Observable Inputs (Level 2) | U.S. government agency securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	8,721	9,859
Carrying Amount | Significant Other Observable Inputs (Level 2) | Obligations of states and political subdivisions
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	585,656	465,878
Carrying Amount | Significant Other Observable Inputs (Level 2) | Residential mortgage-backed securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	1,266,770	1,131,945
Carrying Amount | Significant Other Observable Inputs (Level 2) | Trust preferred securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	37,332	49,824
Carrying Amount | Significant Other Observable Inputs (Level 2) | Corporate and other debt securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	31,250	46,509
Carrying Amount | Significant Unobservable Inputs (Level 3)
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Net loans	24,883,610	18,210,724
Fair Value
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	2,034,943	1,837,620
Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Cash and due from banks	251,541	234,310
Interest bearing deposits with banks	177,088	172,800
Accrued interest receivable	95,296	73,990
Federal Reserve Bank and Federal Home Loan Bank stock	232,080	178,668
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Deposits without stated maturities	17,388,990	14,589,941
Short-term borrowings	2,091,892	679,316
Accrued interest payable	25,762	14,161
Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Treasury securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	142,049	145,257
Fair Value | Significant Other Observable Inputs (Level 2)
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Deposits with stated maturities	7,005,573	3,465,373
Long-term borrowings	1,751,194	2,453,797
Junior subordinated debentures issued to capital trusts	55,692	37,289
Fair Value | Significant Other Observable Inputs (Level 2) | U.S. government agency securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	8,641	9,981
Fair Value | Significant Other Observable Inputs (Level 2) | Obligations of states and political subdivisions
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	586,033	477,479
Fair Value | Significant Other Observable Inputs (Level 2) | Residential mortgage-backed securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	1,235,605	1,118,044
Fair Value | Significant Other Observable Inputs (Level 2) | Trust preferred securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	31,486	40,088
Fair Value | Significant Other Observable Inputs (Level 2) | Corporate and other debt securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Investment securities held to maturity	31,129	46,771
Fair Value | Significant Unobservable Inputs (Level 3)
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Net loans	$ 24,068,755	$ 17,562,153

Investment Securities - Amortiz

Investment Securities - Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Investment Securities Held to Maturity (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	$ 2,068,246	$ 1,842,691
Gross Unrealized Gains	14,436	25,419
Gross Unrealized Losses	(47,739)	(30,490)
Fair Value	2,034,943	1,837,620
U.S. Treasury securities
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	138,517	138,676
Gross Unrealized Gains	3,532	6,581
Gross Unrealized Losses	0	0
Fair Value	142,049	145,257
U.S. government agency securities
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	8,721	9,859
Gross Unrealized Gains	55	122
Gross Unrealized Losses	(135)	0
Fair Value	8,641	9,981
Obligations of states and state agencies
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	341,702	244,272
Gross Unrealized Gains	4,332	7,083
Gross Unrealized Losses	(5,735)	(1,653)
Fair Value	340,299	249,702
Municipal bonds
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	243,954	221,606
Gross Unrealized Gains	3,141	6,199
Gross Unrealized Losses	(1,361)	(28)
Fair Value	245,734	227,777
Total obligations of states and political subdivisions
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	585,656	465,878
Gross Unrealized Gains	7,473	13,282
Gross Unrealized Losses	(7,096)	(1,681)
Fair Value	586,033	477,479
Residential mortgage-backed securities
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	1,266,770	1,131,945
Gross Unrealized Gains	3,203	4,842
Gross Unrealized Losses	(34,368)	(18,743)
Fair Value	1,235,605	1,118,044
Trust preferred securities
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	37,332	49,824
Gross Unrealized Gains	77	60
Gross Unrealized Losses	(5,923)	(9,796)
Fair Value	31,486	40,088
Corporate and other debt securities
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	31,250	46,509
Gross Unrealized Gains	96	532
Gross Unrealized Losses	(217)	(270)
Fair Value	$ 31,129	$ 46,771

Investment Securities - Age of

Investment Securities - Age of Unrealized Losses and Fair Value of Related Securities Held to Maturity (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Schedule of Held-to-Maturity Securities [Line Items]
Less than twelve months, fair value	$ 101,621	$ 365,182
Less than twelve months, unrealized losses	(1,207)	(2,702)
More than twelve months, fair value	1,086,150	663,238
More than twelve months, unrealized losses	(46,532)	(27,788)
Total, fair value	1,187,771	1,028,420
Total, unrealized losses	(47,739)	(30,490)
U.S. government agency securities
Schedule of Held-to-Maturity Securities [Line Items]
Less than twelve months, fair value	0
Less than twelve months, unrealized losses	0
More than twelve months, fair value	6,074
More than twelve months, unrealized losses	(135)
Total, fair value	6,074
Total, unrealized losses	(135)
Obligations of states and state agencies
Schedule of Held-to-Maturity Securities [Line Items]
Less than twelve months, fair value	16,098	6,342
Less than twelve months, unrealized losses	(266)	(50)
More than twelve months, fair value	138,437	53,034
More than twelve months, unrealized losses	(5,469)	(1,603)
Total, fair value	154,535	59,376
Total, unrealized losses	(5,735)	(1,653)
Municipal bonds
Schedule of Held-to-Maturity Securities [Line Items]
Less than twelve months, fair value	3,335	4,644
Less than twelve months, unrealized losses	(37)	(25)
More than twelve months, fair value	60,078	561
More than twelve months, unrealized losses	(1,324)	(3)
Total, fair value	63,413	5,205
Total, unrealized losses	(1,361)	(28)
Total obligations of states and political subdivisions
Schedule of Held-to-Maturity Securities [Line Items]
Less than twelve months, fair value	19,433	10,986
Less than twelve months, unrealized losses	(303)	(75)
More than twelve months, fair value	198,515	53,595
More than twelve months, unrealized losses	(6,793)	(1,606)
Total, fair value	217,948	64,581
Total, unrealized losses	(7,096)	(1,681)
Residential mortgage-backed securities
Schedule of Held-to-Maturity Securities [Line Items]
Less than twelve months, fair value	72,240	344,216
Less than twelve months, unrealized losses	(852)	(2,357)
More than twelve months, fair value	846,671	570,969
More than twelve months, unrealized losses	(33,516)	(16,386)
Total, fair value	918,911	915,185
Total, unrealized losses	(34,368)	(18,743)
Trust preferred securities
Schedule of Held-to-Maturity Securities [Line Items]
Less than twelve months, fair value	0	0
Less than twelve months, unrealized losses	0	0
More than twelve months, fair value	30,055	38,674
More than twelve months, unrealized losses	(5,923)	(9,796)
Total, fair value	30,055	38,674
Total, unrealized losses	(5,923)	(9,796)
Corporate and other debt securities
Schedule of Held-to-Maturity Securities [Line Items]
Less than twelve months, fair value	9,948	9,980
Less than twelve months, unrealized losses	(52)	(270)
More than twelve months, fair value	4,835	0
More than twelve months, unrealized losses	(165)	0
Total, fair value	14,783	9,980
Total, unrealized losses	$ (217)	$ (270)

Investment Securities - Additio

Investment Securities - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2018USD ($)security	Dec. 31, 2017USD ($)security
Investment Securities [Line Items]
Number of security positions in the securities held to maturity portfolio in an unrealized loss position | security	378	152
Fair value of investments held to maturity pledged as collateral	$ 1,300,000,000
Weighted-average remaining expected life of residential mortgage-backed securities held to maturity, years	7 years 8 months
Number of security positions in the securities available for sale portfolio in an unrealized loss position | security	545	327
Fair value of securities available for sale pledged as collateral	$ 1,100,000,000
Weighted-average remaining expected life of residential mortgage-backed securities available for sale, years	7 years 9 months
Amortized cost	$ 1,796,404,000	$ 1,511,034,000
Available for sale	1,749,544,000	1,493,905,000
Other-than-temporary impairment losses	$ 0	$ 0
Single issuer securities | Non-Rated
Investment Securities [Line Items]
Number of security positions in the securities held to maturity portfolio in an unrealized loss position | security	4
Other-than-temporary impaired securities
Investment Securities [Line Items]
Amortized cost	$ 198,800,000
Available for sale	$ 193,100,000
Other-than-temporary impaired securities | Obligations of states and political subdivisions
Investment Securities [Line Items]
Investment carrying value percentage	40.60%
Investment carrying value	$ 782,700,000

Investment Securities - Contrac

Investment Securities - Contractual Maturities of Debt Securities Held to Maturity (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Amortized Cost
Due in one year	$ 21,418
Due after one year through five years	274,389
Due after five years through ten years	260,835
Due after ten years	244,834
Amortized Cost	2,068,246	$ 1,842,691
Fair Value
Due in one year	21,459
Due after one year through five years	278,051
Due after five years through ten years	267,813
Due after ten years	232,015
Total investment securities held to maturity	2,034,943	$ 1,837,620
Residential mortgage-backed securities
Amortized Cost
Residential mortgage-backed securities	1,266,770
Fair Value
Residential mortgage-backed securities	$ 1,235,605

Investment Securities - Amort_2

Investment Securities - Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Investment Securities Available for Sale (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Securities, Available-for-sale [Line Items]
Total investment securities available for sale	$ 1,796,404	$ 1,511,034
Gross Unrealized Gains	1,995	5,029
Gross Unrealized Losses	(48,855)	(22,158)
Fair Value	1,749,544	1,493,905
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Total investment securities available for sale	50,975	50,997
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(1,669)	(1,355)
Fair Value	49,306	49,642
U.S. government agency securities
Debt Securities, Available-for-sale [Line Items]
Total investment securities available for sale	36,844	42,384
Gross Unrealized Gains	71	158
Gross Unrealized Losses	(638)	(37)
Fair Value	36,277	42,505
Obligations of states and state agencies
Debt Securities, Available-for-sale [Line Items]
Total investment securities available for sale	100,777	38,435
Gross Unrealized Gains	18	158
Gross Unrealized Losses	(3,682)	(374)
Fair Value	97,113	38,219
Municipal bonds
Debt Securities, Available-for-sale [Line Items]
Total investment securities available for sale	101,207	74,752
Gross Unrealized Gains	209	477
Gross Unrealized Losses	(1,437)	(564)
Fair Value	99,979	74,665
Total obligations of states and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Total investment securities available for sale	201,984	113,187
Gross Unrealized Gains	227	635
Gross Unrealized Losses	(5,119)	(938)
Fair Value	197,092	112,884
Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Total investment securities available for sale	1,469,059	1,239,534
Gross Unrealized Gains	1,484	2,423
Gross Unrealized Losses	(40,761)	(18,662)
Fair Value	1,429,782	1,223,295
Trust preferred securities
Debt Securities, Available-for-sale [Line Items]
Total investment securities available for sale		3,726
Gross Unrealized Gains		0
Gross Unrealized Losses		(512)
Fair Value		3,214
Corporate and other debt securities
Debt Securities, Available-for-sale [Line Items]
Total investment securities available for sale	37,542	50,701
Gross Unrealized Gains	213	623
Gross Unrealized Losses	(668)	(160)
Fair Value	$ 37,087	51,164
Equity securities
Debt Securities, Available-for-sale [Line Items]
Total investment securities available for sale		10,505
Gross Unrealized Gains		1,190
Gross Unrealized Losses		(494)
Fair Value		$ 11,201

Investment Securities - Age o_2

Investment Securities - Age of Unrealized Losses and Fair Value of Related Securities (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair Value
Less than Twelve Months	$ 156,682	$ 489,894
More than Twelve Months	1,456,424	691,297
Total	1,613,106	1,181,191
Unrealized Losses
Less than Twelve Months	(1,050)	(2,932)
More than Twelve Months	(47,805)	(19,226)
Total	(48,855)	(22,158)
U.S. Treasury securities
Fair Value
Less than Twelve Months	0	916
More than Twelve Months	49,306	48,726
Total	49,306	49,642
Unrealized Losses
Less than Twelve Months	0	(2)
More than Twelve Months	(1,669)	(1,353)
Total	(1,669)	(1,355)
U.S. government agency securities
Fair Value
Less than Twelve Months	2,120	31,177
More than Twelve Months	26,775	0
Total	28,895	31,177
Unrealized Losses
Less than Twelve Months	(20)	(37)
More than Twelve Months	(618)	0
Total	(638)	(37)
Obligations of states and state agencies
Fair Value
Less than Twelve Months	17,560	13,337
More than Twelve Months	75,718	7,792
Total	93,278	21,129
Unrealized Losses
Less than Twelve Months	(95)	(131)
More than Twelve Months	(3,587)	(243)
Total	(3,682)	(374)
Municipal bonds
Fair Value
Less than Twelve Months	5,018	31,669
More than Twelve Months	70,286	12,133
Total	75,304	43,802
Unrealized Losses
Less than Twelve Months	(106)	(256)
More than Twelve Months	(1,331)	(308)
Total	(1,437)	(564)
Total obligations of states and political subdivisions
Fair Value
Less than Twelve Months	22,578	45,006
More than Twelve Months	146,004	19,925
Total	168,582	64,931
Unrealized Losses
Less than Twelve Months	(201)	(387)
More than Twelve Months	(4,918)	(551)
Total	(5,119)	(938)
Residential mortgage-backed securities
Fair Value
Less than Twelve Months	119,645	406,940
More than Twelve Months	1,221,942	599,167
Total	1,341,587	1,006,107
Unrealized Losses
Less than Twelve Months	(668)	(2,461)
More than Twelve Months	(40,093)	(16,201)
Total	(40,761)	(18,662)
Trust preferred securities
Fair Value
Less than Twelve Months		0
More than Twelve Months		3,214
Total		3,214
Unrealized Losses
Less than Twelve Months		0
More than Twelve Months		(512)
Total		(512)
Corporate and other debt securities
Fair Value
Less than Twelve Months	12,339	5,855
More than Twelve Months	12,397	15,115
Total	24,736	20,970
Unrealized Losses
Less than Twelve Months	(161)	(45)
More than Twelve Months	(507)	(115)
Total	$ (668)	(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 Investments Securities Available for Sale (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Amortized Cost
Due in one year	$ 4,666
Due after one year through five years	125,825
Due after five years through ten years	78,305
Due after ten years	118,549
Total investment securities available for sale	1,796,404	$ 1,511,034
Fair Value
Due in one year	4,643
Due after one year through five years	123,051
Due after five years through ten years	76,640
Due after ten years	115,428
Total investment securities available for sale	1,749,544	1,493,905
Residential mortgage-backed securities
Amortized Cost
Securities without a single maturity date	1,469,059
Total investment securities available for sale	1,469,059	1,239,534
Fair Value
Securities without a single maturity date	1,429,782
Total investment securities available for sale	$ 1,429,782	$ 1,223,295

Investment Securities - Realize

Investment Securities - Realized Gains and Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Gross gains, sale transactions	$ 1,769	$ 0	$ 271
Gross losses, sale transactions	(3,881)	(25)	(58)
Gains on sale transactions, net	(2,112)	(25)	213
Gross gains, maturities and other securities transactions	42	43	615
Gross losses, maturities and other securities transactions	(272)	(38)	(51)
Gains (losses) on maturities and other securities transactions, net	(230)	5	564
(Losses) gains on securities transactions, net	$ (2,342)	$ (20)	$ 777

Loans - Schedule of Loan Portfo

Loans - Schedule of Loan Portfolio (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 25,035,469	$ 18,331,580
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	4,331,032	2,741,425
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	13,895,407	10,347,882
Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	12,407,275	9,496,777
Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,488,132	851,105
Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	4,111,400	2,859,035
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,697,630	2,383,238
Consumer | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	517,089	446,280
Consumer | Automobile
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,319,571	1,208,902
Consumer | Other consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	860,970	728,056
Non-PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	20,845,383	16,944,365
Non-PCI Loans | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	3,590,375	2,549,065
Non-PCI Loans | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	11,034,657	9,371,815
Non-PCI Loans | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	9,912,309	8,561,851
Non-PCI Loans | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,122,348	809,964
Non-PCI Loans | Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	3,682,984	2,717,744
Non-PCI Loans | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,537,367	2,305,741
Non-PCI Loans | Consumer | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	371,340	373,631
Non-PCI Loans | Consumer | Automobile
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,319,206	1,208,804
Non-PCI Loans | Consumer | Other consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	846,821	723,306
PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	4,190,086	1,387,215
Covered loans	27,600	38,700
PCI Loans | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	740,657	192,360
PCI Loans | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,860,750	976,067
PCI Loans | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,494,966	934,926
PCI Loans | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	365,784	41,141
PCI Loans | Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	428,416	141,291
PCI Loans | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	160,263	77,497
PCI Loans | Consumer | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	145,749	72,649
PCI Loans | Consumer | Automobile
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	365	98
PCI Loans | Consumer | Other consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 14,149	$ 4,750

Loans - Additional Information

Loans - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans net of premiums and deferred loan fees	$ 21,500,000	$ 22,200,000
Loans	25,035,469,000	18,331,580,000
Loans transferred to loans held for sale	289,633,000	313,201,000	$ 174,501,000
Sales of loans	0	0
Net increase in expected cash flows	$ 269,800,000	77,300,000
Combined loan-to-value ratio home equity loan	80.00%
Accrued interest on non-accrual loans	$ 3,600,000	2,500,000	$ 2,100,000
Number of consecutive months for performing restructured loans to be put on accrual status	6 months
TDRs not reported as non-accrual loans	$ 77,200,000	117,200,000
Non-performing TDRs	55,000,000	27,000,000
Specific reserves for loan losses	6,500,000	8,700,000
Troubled debt restructuring, charge-offs	$ 0	$ 0
Number of days loans placed on non-accrual status	90 days	90 days
PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 4,190,086,000	$ 1,387,215,000
PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	4,400,000,000	1,500,000,000
Commitments under unused lines of credit—credit card
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unsecured loans	10,400,000	8,200,000
Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	4,111,400,000	2,859,035,000
Loans transferred to loans held for sale	289,600,000	313,200,000
Residential mortgage | PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	428,416,000	141,291,000
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	4,331,032,000	2,741,425,000
Unsecured loans	580,500,000	401,800,000
Impaired loans	250,000
Commercial and industrial | PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	740,657,000	192,360,000
Commercial and industrial | Tax Medallion
Accounts, Notes, Loans and Financing Receivable [Line Items]
Taxi medallion loans	130,200,000
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,697,630,000	2,383,238,000
Unsecured loans	58,100,000	18,100,000
Consumer | PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 160,263,000	$ 77,497,000

Loans - USAB Acquisition (Detai

Loans - USAB Acquisition (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
Business Combination, Separately Recognized Transactions [Line Items]
Interest component of expected cash flows (accretable yield)	$ (875,958)		$ (282,009)	$ (294,514)
USAmeriBancorp, Inc.
Business Combination, Separately Recognized Transactions [Line Items]
Contractually required principal and interest		$ 4,398,687
Contractual cash flows not expected to be collected (non-accretable difference)		(101,796)
Expected cash flows to be collected		4,296,891
Interest component of expected cash flows (accretable yield)		(559,907)
Fair value of acquired loans		$ 3,736,984

Loans - Changes in Accretable Y

Loans - Changes in Accretable Yield for PCI Loans (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Balance, beginning of period	$ 282,009	$ 294,514
Acquisition	559,907	0
Accretion	(235,741)	(89,770)
Net increase in expected cash flows	269,783	77,265
Balance, end of period	$ 875,958	$ 282,009

Loans - Summary of Related Part

Loans - Summary of Related Party Loans (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)
Loans and Leases Receivable, Related Parties [Roll Forward]
Outstanding at beginning of year	$ 151,265
New loans and advances	86,837
Repayments	(23,994)
Outstanding at end of year	$ 214,108

Loans - Past Due, Non-Accrual a

Loans - Past Due, Non-Accrual and Current Non-Covered Loans by Loan Portfolio Class (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	$ 88,396	$ 47,225
Total Past Due Loans	156,101	127,706
Current Non-PCI Loans	20,689,282	16,816,659
Total Non-PCI Loans	20,845,383	16,944,365
30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	51,751	48,900
60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	8,142	28,491
Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	7,812	3,090
Commercial and industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	70,096	20,890
Total Past Due Loans	93,105	25,084
Current Non-PCI Loans	3,497,270	2,523,981
Total Non-PCI Loans	3,590,375	2,549,065
Commercial and industrial | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	13,085	3,650
Commercial and industrial | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	3,768	544
Commercial and industrial | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	6,156	0
Commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	2,728	12,060
Total Past Due Loans	15,635	55,104
Current Non-PCI Loans	11,019,022	9,316,711
Total Non-PCI Loans	11,034,657	9,371,815
Commercial real estate | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	12,350	24,172
Commercial real estate | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	530	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	2,372	11,328
Total Past Due Loans	12,450	22,578
Current Non-PCI Loans	9,899,859	8,539,273
Total Non-PCI Loans	9,912,309	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	9,521	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	530	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	356	732
Total Past Due Loans	3,185	32,526
Current Non-PCI Loans	1,119,163	777,438
Total Non-PCI Loans	1,122,348	809,964
Commercial real estate | Construction | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	2,829	12,949
Commercial real estate | Construction | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	0	18,845
Commercial real estate | Construction | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	0	0
Residential mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	12,917	12,405
Total Past Due Loans	33,239	35,756
Current Non-PCI Loans	3,649,745	2,681,988
Total Non-PCI Loans	3,682,984	2,717,744
Residential mortgage | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	16,576	12,669
Residential mortgage | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	2,458	7,903
Residential mortgage | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	1,288	2,779
Consumer loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	2,655	1,870
Total Past Due Loans	14,122	11,762
Current Non-PCI Loans	2,523,245	2,293,979
Total Non-PCI Loans	2,537,367	2,305,741
Consumer loans | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	9,740	8,409
Consumer loans | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	1,386	1,199
Consumer loans | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	341	284
Consumer loans | Home equity
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	2,156	1,777
Total Past Due Loans	3,068	2,880
Current Non-PCI Loans	368,272	370,751
Total Non-PCI Loans	371,340	373,631
Consumer loans | Home equity | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	872	1,009
Consumer loans | Home equity | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	40	94
Consumer loans | Home equity | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	0	0
Consumer loans | Automobile
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	80	73
Total Past Due Loans	9,660	7,038
Current Non-PCI Loans	1,309,546	1,201,766
Total Non-PCI Loans	1,319,206	1,208,804
Consumer loans | Automobile | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	7,973	5,707
Consumer loans | Automobile | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	1,299	987
Consumer loans | Automobile | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	308	271
Consumer loans | Other consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	419	20
Total Past Due Loans	1,394	1,844
Current Non-PCI Loans	845,427	721,462
Total Non-PCI Loans	846,821	723,306
Consumer loans | Other consumer | 30-59 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	895	1,693
Consumer loans | Other consumer | 60-89 Days Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	47	118
Consumer loans | Other consumer | Accruing Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due Loans	$ 33	$ 13

Loans - Impaired Loans (Detail)

Loans - Impaired Loans (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	$ 33,825	$ 49,309
Recorded Investment With Related Allowance	122,800	114,857
Total Recorded Investment	156,625	164,166
Unpaid Contractual Principal Balance	165,918	175,198
Related Allowance	33,025	14,561
Commercial and industrial
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	8,339	9,946
Recorded Investment With Related Allowance	89,513	75,553
Total Recorded Investment	97,852	85,499
Unpaid Contractual Principal Balance	104,007	90,269
Related Allowance	29,684	11,044
Commercial real estate
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	17,535	30,613
Recorded Investment With Related Allowance	26,063	30,238
Total Recorded Investment	43,598	60,851
Unpaid Contractual Principal Balance	45,597	64,680
Related Allowance	2,628	2,735
Commercial real estate | Commercial real estate
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	16,732	28,709
Recorded Investment With Related Allowance	25,606	29,771
Total Recorded Investment	42,338	58,480
Unpaid Contractual Principal Balance	44,337	62,286
Related Allowance	2,615	2,718
Commercial real estate | Construction
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	803	1,904
Recorded Investment With Related Allowance	457	467
Total Recorded Investment	1,260	2,371
Unpaid Contractual Principal Balance	1,260	2,394
Related Allowance	13	17
Residential mortgage
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	7,826	5,654
Recorded Investment With Related Allowance	6,078	8,402
Total Recorded Investment	13,904	14,056
Unpaid Contractual Principal Balance	14,948	15,332
Related Allowance	600	718
Consumer
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	125	3,096
Recorded Investment With Related Allowance	1,146	664
Total Recorded Investment	1,271	3,760
Unpaid Contractual Principal Balance	1,366	4,917
Related Allowance	113	64
Consumer | Home equity
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance	125	3,096
Recorded Investment With Related Allowance	1,146	664
Total Recorded Investment	1,271	3,760
Unpaid Contractual Principal Balance	1,366	4,917
Related Allowance	$ 113	$ 64

Loans - Average Recorded Invest

Loans - Average Recorded Investment and Interest Income Recognized on Impaired Loans (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	$ 170,675	$ 158,777	$ 125,941
Interest Income Recognized	4,707	4,373	4,291
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	108,071	80,974	36,552
Interest Income Recognized	1,822	1,459	1,045
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	46,355	58,057	65,423
Interest Income Recognized	2,358	1,994	2,304
Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	44,838	54,799	59,633
Interest Income Recognized	2,289	1,908	2,122
Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	1,517	3,258	5,790
Interest Income Recognized	69	86	182
Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	15,384	15,451	21,340
Interest Income Recognized	506	760	874
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	865	4,295	2,626
Interest Income Recognized	21	160	68
Consumer | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	865	4,295	2,626
Interest Income Recognized	$ 21	$ 160	$ 68

Loans - Pre-Modification and Po

Loans - Pre-Modification and Post-Modification Outstanding Recorded Investments (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)contract	Dec. 31, 2017USD ($)contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	44	106
Pre-Modification Outstanding Recorded Investment	$ 24,025	$ 102,632
Post-Modification Outstanding Recorded Investment	$ 23,623	$ 95,227
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	25	90
Pre-Modification Outstanding Recorded Investment	$ 16,251	$ 75,894
Post-Modification Outstanding Recorded Investment	$ 15,105	$ 69,020
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	9	9
Pre-Modification Outstanding Recorded Investment	$ 6,175	$ 24,969
Post-Modification Outstanding Recorded Investment	$ 6,956	$ 24,480
Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	8	6
Pre-Modification Outstanding Recorded Investment	$ 5,643	$ 23,781
Post-Modification Outstanding Recorded Investment	$ 6,600	$ 23,548
Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	1	3
Pre-Modification Outstanding Recorded Investment	$ 532	$ 1,188
Post-Modification Outstanding Recorded Investment	$ 356	$ 932
Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	8	7
Pre-Modification Outstanding Recorded Investment	$ 1,500	$ 1,769
Post-Modification Outstanding Recorded Investment	$ 1,461	$ 1,727
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	2
Pre-Modification Outstanding Recorded Investment	$ 99
Post-Modification Outstanding Recorded Investment	$ 101

Loans - Troubled Debt Restructu

Loans - Troubled Debt Restructurings Subsequently Defaulted (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)contract	Dec. 31, 2017USD ($)contract
Financing Receivable, Modifications [Line Items]
Number of Contracts | contract	13	13
Recorded Investment | $	$ 9,319	$ 7,131
Commercial and industrial
Financing Receivable, Modifications [Line Items]
Number of Contracts | contract	10	7
Recorded Investment | $	$ 8,829	$ 5,841
Commercial real estate
Financing Receivable, Modifications [Line Items]
Number of Contracts | contract	0	1
Recorded Investment | $	$ 0	$ 165
Residential mortgage
Financing Receivable, Modifications [Line Items]
Number of Contracts | contract	3	5
Recorded Investment | $	$ 490	$ 1,125

Loans - Risk Category of Loans

Loans - Risk Category of Loans (Detail) - Non-PCI Loans - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	$ 14,625,032	$ 11,920,880
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	3,590,375	2,549,065
Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	9,912,309	8,561,851
Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	1,122,348	809,964
Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	14,349,491	11,631,645
Pass | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	3,399,426	2,375,689
Pass | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	9,828,744	8,447,865
Pass | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	1,121,321	808,091
Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	63,103	110,440
Special Mention | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	31,996	62,071
Special Mention | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	30,892	48,009
Special Mention | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	215	360
Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	144,842	164,045
Substandard | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	92,320	96,555
Substandard | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	51,710	65,977
Substandard | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	812	1,513
Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	67,596	14,750
Doubtful | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	66,633	14,750
Doubtful | Commercial real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	963	0
Doubtful | Commercial real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Non-PCI Loans	$ 0	$ 0

Loans - Recorded Investment in

Loans - Recorded Investment in Loan Classes Based on Payment Activity (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Non-PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans	$ 6,220,351	$ 5,023,485
Non-PCI Loans | Residential mortgage
Financing Receivable, Recorded Investment [Line Items]
Total Loans	3,682,984	2,717,744
Non-PCI Loans | Consumer | Home equity
Financing Receivable, Recorded Investment [Line Items]
Total Loans	371,340	373,631
Non-PCI Loans | Consumer | Automobile
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,319,206	1,208,804
Non-PCI Loans | Consumer | Other consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	846,821	723,306
Non-PCI Loans | Performing Loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans	6,204,779	5,009,210
Non-PCI Loans | Performing Loans | Residential mortgage
Financing Receivable, Recorded Investment [Line Items]
Total Loans	3,670,067	2,705,339
Non-PCI Loans | Performing Loans | Consumer | Home equity
Financing Receivable, Recorded Investment [Line Items]
Total Loans	369,184	371,854
Non-PCI Loans | Performing Loans | Consumer | Automobile
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,319,126	1,208,731
Non-PCI Loans | Performing Loans | Consumer | Other consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	846,402	723,286
Non-PCI Loans | Non-Performing Loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans	15,572	14,275
Non-PCI Loans | Non-Performing Loans | Residential mortgage
Financing Receivable, Recorded Investment [Line Items]
Total Loans	12,917	12,405
Non-PCI Loans | Non-Performing Loans | Consumer | Home equity
Financing Receivable, Recorded Investment [Line Items]
Total Loans	2,156	1,777
Non-PCI Loans | Non-Performing Loans | Consumer | Automobile
Financing Receivable, Recorded Investment [Line Items]
Total Loans	80	73
Non-PCI Loans | Non-Performing Loans | Consumer | Other consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	419	20
PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans	4,190,086	1,387,215
PCI Loans | Residential mortgage
Financing Receivable, Recorded Investment [Line Items]
Total Loans	428,416	141,291
PCI Loans | Consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	160,263	77,497
PCI Loans | Commercial and industrial
Financing Receivable, Recorded Investment [Line Items]
Total Loans	740,657	192,360
PCI Loans | Commercial real estate | Commercial real estate
Financing Receivable, Recorded Investment [Line Items]
Total Loans	2,494,966	934,926
PCI Loans | Commercial real estate | Construction
Financing Receivable, Recorded Investment [Line Items]
Total Loans	365,784	41,141
PCI Loans | Performing Loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans	4,133,961	1,349,127
PCI Loans | Performing Loans | Residential mortgage
Financing Receivable, Recorded Investment [Line Items]
Total Loans	421,609	135,745
PCI Loans | Performing Loans | Consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	158,502	76,901
PCI Loans | Performing Loans | Commercial and industrial
Financing Receivable, Recorded Investment [Line Items]
Total Loans	710,045	172,105
PCI Loans | Performing Loans | Commercial real estate | Commercial real estate
Financing Receivable, Recorded Investment [Line Items]
Total Loans	2,478,990	924,574
PCI Loans | Performing Loans | Commercial real estate | Construction
Financing Receivable, Recorded Investment [Line Items]
Total Loans	364,815	39,802
PCI Loans | Non-Performing Loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans	56,125	38,088
PCI Loans | Non-Performing Loans | Residential mortgage
Financing Receivable, Recorded Investment [Line Items]
Total Loans	6,807	5,546
PCI Loans | Non-Performing Loans | Consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,761	596
PCI Loans | Non-Performing Loans | Commercial and industrial
Financing Receivable, Recorded Investment [Line Items]
Total Loans	30,612	20,255
PCI Loans | Non-Performing Loans | Commercial real estate | Commercial real estate
Financing Receivable, Recorded Investment [Line Items]
Total Loans	15,976	10,352
PCI Loans | Non-Performing Loans | Commercial real estate | Construction
Financing Receivable, Recorded Investment [Line Items]
Total Loans	$ 969	$ 1,339

Allowance for Credit Losses - S

Allowance for Credit Losses - Summary of Allowance for Credit Losses (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Receivables [Abstract]
Allowance for loan losses	$ 151,859	$ 120,856	$ 114,419
Allowance for unfunded letters of credit	4,436	3,596
Total allowance for credit losses	$ 156,295	$ 124,452

Allowance for Credit Losses -_2

Allowance for Credit Losses - Summary of Provision for Credit Losses (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Receivables [Abstract]
Provision for loan losses									$ 31,661	$ 8,531	$ 11,873
Provision for unfunded letters of credit									840	1,411	(4)
Total provision for credit losses	$ 7,859	$ 6,552	$ 7,142	$ 10,948	$ 2,200	$ 1,640	$ 3,632	$ 2,470	$ 32,501	$ 9,942	$ 11,869

Allowance for Credit Losses -_3

Allowance for Credit Losses - Summary of Activity in Allowance for Loan Losses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allowance for loan losses:
Beginning balance	$ 120,856	$ 114,419
Loans charged-off	(8,063)	(11,074)
Charged-off loans recovered	7,405	8,980
Net (charge-offs) recoveries	(658)	(2,094)
Provision for loan losses	31,661	8,531	$ 11,873
Ending balance	151,859	120,856	114,419
Commercial and Industrial
Allowance for loan losses:
Beginning balance	57,232	50,820
Loans charged-off	(2,515)	(5,421)
Charged-off loans recovered	4,623	4,736
Net (charge-offs) recoveries	2,108	(685)
Provision for loan losses	31,616	7,097
Ending balance	90,956	57,232	50,820
Commercial Real Estate
Allowance for loan losses:
Beginning balance	54,954	55,851
Loans charged-off	(348)	(559)
Charged-off loans recovered	417	1,425
Net (charge-offs) recoveries	69	866
Provision for loan losses	(5,373)	(1,763)
Ending balance	49,650	54,954	55,851
Residential Mortgage
Allowance for loan losses:
Beginning balance	3,605	3,702
Loans charged-off	(223)	(530)
Charged-off loans recovered	272	1,016
Net (charge-offs) recoveries	49	486
Provision for loan losses	1,387	(583)
Ending balance	5,041	3,605	3,702
Consumer
Allowance for loan losses:
Beginning balance	5,065	4,046
Loans charged-off	(4,977)	(4,564)
Charged-off loans recovered	2,093	1,803
Net (charge-offs) recoveries	(2,884)	(2,761)
Provision for loan losses	4,031	3,780
Ending balance	$ 6,212	$ 5,065	$ 4,046

Allowance for Credit Losses -_4

Allowance for Credit Losses - Summary of Allocation of Allowance for Loan Losses and Related Loans by Loan Portfolio Segment Disaggregated Based on Impairment Methodology (Detail) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	$ 33,025,000	$ 14,561,000
Collectively evaluated for impairment	118,834,000	106,295,000
Allowance for loan losses	151,859,000	120,856,000	$ 114,419,000
Individually evaluated for impairment	156,625,000	164,166,000
Collectively evaluated for impairment	20,688,758,000	16,780,199,000
Total loans	25,035,469,000	18,331,580,000
Loans acquired with discounts related to credit quality
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses	0	0
Total loans	4,190,086,000	1,387,215,000
Commercial and Industrial
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	29,684,000	11,044,000
Collectively evaluated for impairment	61,272,000	46,188,000
Allowance for loan losses	90,956,000	57,232,000	50,820,000
Individually evaluated for impairment	97,852,000	85,499,000
Collectively evaluated for impairment	3,492,523,000	2,463,566,000
Total loans	4,331,032,000	2,741,425,000
Commercial and Industrial | Loans acquired with discounts related to credit quality
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans	740,657,000	192,360,000
Commercial Real Estate
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	2,628,000	2,735,000
Collectively evaluated for impairment	47,022,000	52,219,000
Allowance for loan losses	49,650,000	54,954,000	55,851,000
Individually evaluated for impairment	43,598,000	60,851,000
Collectively evaluated for impairment	10,991,059,000	9,310,964,000
Total loans	13,895,407,000	10,347,882,000
Commercial Real Estate | Loans acquired with discounts related to credit quality
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans	2,860,750,000	976,067,000
Residential Mortgage
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	600,000	718,000
Collectively evaluated for impairment	4,441,000	2,887,000
Allowance for loan losses	5,041,000	3,605,000	3,702,000
Individually evaluated for impairment	13,904,000	14,056,000
Collectively evaluated for impairment	3,669,080,000	2,703,688,000
Total loans	4,111,400,000	2,859,035,000
Residential Mortgage | Loans acquired with discounts related to credit quality
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans	428,416,000	141,291,000
Consumer
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	113,000	64,000
Collectively evaluated for impairment	6,099,000	5,001,000
Allowance for loan losses	6,212,000	5,065,000	$ 4,046,000
Individually evaluated for impairment	1,271,000	3,760,000
Collectively evaluated for impairment	2,536,096,000	2,301,981,000
Total loans	2,697,630,000	2,383,238,000
Consumer | Loans acquired with discounts related to credit quality
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans	$ 160,263,000	$ 77,497,000

Premises and Equipment, Net (De

Premises and Equipment, Net (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 685,139	$ 621,976
Accumulated depreciation and amortization	(343,509)	(334,271)
Total premises and equipment, net	341,630	287,705
Depreciation and amortization	27,600	24,800	$ 24,400
Land
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	93,600	77,235
Buildings
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	250,510	210,335
Leasehold improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	77,425	79,217
Furniture and equipment
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 263,604	$ 255,189

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill [Line Items]
Goodwill	$ 1,084,665	$ 690,637	$ 690,637
Goodwill from business combinations	394,028
Consumer Lending
Goodwill [Line Items]
Goodwill	287,025	200,103	200,103
Goodwill from business combinations	86,922
Commercial Lending
Goodwill [Line Items]
Goodwill	557,850	316,258	316,258
Goodwill from business combinations	241,592
Investment Management
Goodwill [Line Items]
Goodwill	218,572	153,058	153,058
Goodwill from business combinations	65,514
Wealth Management
Goodwill [Line Items]
Goodwill	21,218	$ 21,218	$ 21,218
Goodwill from business combinations	$ 0

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2018
Finite-Lived Intangible Assets [Line Items]
Goodwill from business combinations	$ 394,028,000
Goodwill impairment	0	$ 0	$ 0
Finite lived intangibles	171,769,000	126,621,000
Impairment of core deposits and intangibles	0	0	0
Amortization expense - other intangible assets	$ 18,400,000	10,000,000	11,300,000
Core deposits
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, years	8 years
Finite lived intangibles	$ 80,470,000	43,396,000
Other
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, years	7 years 7 months 8 days
Finite lived intangibles	$ 3,945,000	4,087,000
Loan servicing rights
Finite-Lived Intangible Assets [Line Items]
Finite lived intangibles	87,354,000	79,138,000
Residential mortgage
Finite-Lived Intangible Assets [Line Items]
Aggregate principal balances of mortgage loans serviced	3,200,000,000	$ 2,800,000,000	$ 2,500,000,000
USAmeriBancorp, Inc.
Finite-Lived Intangible Assets [Line Items]
Goodwill from business combinations	$ 5,800,000
USAmeriBancorp, Inc. | Core deposits
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, years	10 years
Finite lived intangibles				$ 44,600,000
USAmeriBancorp, Inc. | Loan servicing rights
Finite-Lived Intangible Assets [Line Items]
Finite lived intangibles				$ 1,400,000

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Other Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	$ 171,769	$ 126,621
Accumulated Amortization	(94,696)	(83,643)
Valuation Allowance	(83)	(471)
Net Intangible Assets	76,990	42,507
Loan servicing rights
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	87,354	79,138
Accumulated Amortization	(63,161)	(57,054)
Valuation Allowance	(83)	(471)
Net Intangible Assets	24,110	21,613
Core deposits
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	80,470	43,396
Accumulated Amortization	(29,136)	(24,297)
Valuation Allowance	0	0
Net Intangible Assets	51,334	19,099
Other
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	3,945	4,087
Accumulated Amortization	(2,399)	(2,292)
Valuation Allowance	0	0
Net Intangible Assets	$ 1,546	$ 1,795

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Schedule of Change in Loan Servicing Rights (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill [Roll Forward]
Balance at beginning of year	$ 22,084	$ 20,368	$ 16,681
Origination of loan servicing rights	8,216	7,039	8,479
Amortization expense	(6,107)	(5,323)	(4,792)
Balance at end of year	24,193	22,084	20,368
Balance at beginning of year	(471)	(900)	(289)
Impairment adjustment	388	429	(611)
Balance at end of year	(83)	(471)	(900)
Balance at end of year, net of valuation allowance	$ 24,110	$ 21,613	$ 19,468

Goodwill and Other Intangible_7

Goodwill and Other Intangible Assets - Estimated Future Amortization Expense (Detail) $ in Thousands	Dec. 31, 2018USD ($)
Loan servicing rights
Finite-Lived Intangible Assets [Line Items]
2,019	$ 5,574
2,020	4,590
2,021	3,614
2,022	2,872
2,023	2,286
Core deposits
Finite-Lived Intangible Assets [Line Items]
2,019	10,961
2,020	9,607
2,021	8,252
2,022	6,898
2,023	5,544
Other
Finite-Lived Intangible Assets [Line Items]
2,019	235
2,020	220
2,021	206
2,022	191
2,023	$ 131

Deposits - Additional Informati

Deposits - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Banking and Thrift [Abstract]
Time deposits, $250,000 or more	$ 1,100	$ 647.3
Interest expense on time deposits of $250 thousand or more	6.6	1.3	$ 1.1
Deposits from certain directors, executive officers and their affiliates	$ 66.8	$ 77.7

Deposits - Scheduled Maturities

Deposits - Scheduled Maturities of Time Deposits (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Banking and Thrift [Abstract]
2,019	$ 4,987,313
2,020	1,551,067
2,021	163,059
2,022	176,727
2,023	143,287
Thereafter	42,531
Total time deposits	$ 7,063,984	$ 3,563,521

Borrowed Funds - Schedule of Sh

Borrowed Funds - Schedule of Short-Term Borrowings (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total short-term borrowings	$ 2,118,914	$ 748,628
Short-term borrowings
Debt Instrument [Line Items]
FHLB advances	1,732,000	427,000
Securities sold under agreements to repurchase	261,914	321,628
Federal funds purchased	125,000	0
Total short-term borrowings	$ 2,118,914	$ 748,628

Borrowed Funds - Additional Inf

Borrowed Funds - Additional Information (Detail) - USD ($)	Jan. 01, 2018	Aug. 31, 2016	Jun. 30, 2015	Sep. 30, 2013	Dec. 31, 2016	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Weighted average interest rate for short-term borrowings						2.45%	1.05%
Prepaid long-term FHLB advances					$ 355,000,000
Prepaid long-term FHLB stock					$ 50,000,000
Callable FHLB advances interest rate					3.69%
FHLB advances					$ 405,000,000
Callable FHLB advances adjusted interest rate					2.51%
Prepayment penalties paid to FHLB					$ 20,000,000
Loss on extinguishment of debt					315,000
Subordinated notes, interest rate	6.25%
Fair value of securities						$ 2,400,000,000	$ 1,900,000,000
Interest rate swaps
Debt Instrument [Line Items]
Notional amount of terminated derivative		$ 125,000,000
Securities sold under agreements to repurchase
Debt Instrument [Line Items]
Weighted average interest rate for long-term borrowings						3.70%	3.37%
FHLB
Debt Instrument [Line Items]
Weighted average interest rate for long-term borrowings						3.13%	2.52%
Subordinated notes
Debt Instrument [Line Items]
Subordinated notes			$ 100,000,000
Subordinated notes, interest rate			4.55%
Net carrying value of subordinated debentures						$ 99,300,000	$ 99,200,000
Subordinated notes due September 2023
Debt Instrument [Line Items]
Subordinated notes				$ 125,000,000
Subordinated notes, interest rate				5.125%
Net carrying value of subordinated debentures						134,200,000	$ 135,200,000
Effective interest rate		3.32%
CNL Bancshares, Inc.
Debt Instrument [Line Items]
Prepaid long-term FHLB advances					$ 87,000,000
USAmeriBancorp, Inc.
Debt Instrument [Line Items]
Subordinated notes	$ 60,000,000
Net carrying value of subordinated debentures						$ 61,100,000

Borrowed Funds - Schedule of Lo

Borrowed Funds - Schedule of Long-Term Borrowings (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total long-term borrowings	$ 1,654,268	$ 2,315,819
Long-term borrowings
Debt Instrument [Line Items]
FHLB advances, net	1,309,666	1,980,666
Subordinated debt, net	294,602	235,153
Securities sold under agreements to repurchase	50,000	100,000
Total long-term borrowings	1,654,268	2,315,819
Unamortized prepayment penalties and other purchase accounting adjustments	10,300	14,300
Deferred issuance costs	$ 1,400	$ 1,700

Borrowed Funds - Schedule of FH

Borrowed Funds - Schedule of FHLB Repayment (Detail) - Long-term borrowings $ in Thousands	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
2,019	$ 255,000
2,020	25,000
2,021	840,000
2,022	200,000
Total long-term FHLB advances	$ 1,320,000

Borrowed Funds - Schedule of Re

Borrowed Funds - Schedule of Repayment of Long-Term Borrowings for Securities Sold Under Agreements to Repurchase (Detail) - Long-term borrowings - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
2,022	$ 50,000
Total long-term securities sold under agreements to repurchase	$ 50,000	$ 100,000

Junior Subordinated Debenture_3

Junior Subordinated Debentures Issued to Capital Trusts - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Maximum allowable period of interest deferment	5 years

Junior Subordinated Debenture_4

Junior Subordinated Debentures Issued to Capital Trusts - Schedule of Outstanding Junior Subordinated Debentures and Related Trust Preferred Securities Issued by Each Trust (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Jul. 30, 2017
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Carrying value	$ 55,370,000	$ 41,774,000
GCB Capital Trust III
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Effective interest rate			6.96%
GCB Capital Trust III | 3-month LIBOR
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Annual interest rate spread, percentage	1.40%
Junior Subordinated Debentures | GCB Capital Trust III
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Carrying value	$ 24,743,000	24,743,000
Contractual principal balance	24,743,000	$ 24,743,000
Junior Subordinated Debentures | GCB Capital Trust III | 3-month LIBOR
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Annual interest rate spread, percentage		1.40%
Junior Subordinated Debentures | State Bancorp Capital Trust I
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Carrying value	8,924,000	$ 8,824,000
Contractual principal balance	10,310,000	$ 10,310,000
Junior Subordinated Debentures | State Bancorp Capital Trust I | 3-month LIBOR
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Annual interest rate spread, percentage		3.45%
Junior Subordinated Debentures | State Bancorp Capital Trust II
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Carrying value	8,337,000	$ 8,207,000
Contractual principal balance	10,310,000	$ 10,310,000
Junior Subordinated Debentures | State Bancorp Capital Trust II | 3-month LIBOR
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Annual interest rate spread, percentage		2.85%
Junior Subordinated Debentures | Aliant Statutory Trust II
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Carrying value	13,366,000
Contractual principal balance	15,464,000
Junior Subordinated Debentures | Aliant Statutory Trust II | 3-month LIBOR
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Annual interest rate spread, percentage		1.80%
Trust Preferred Securities | GCB Capital Trust III
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Face value	$ 24,000,000	$ 24,000,000
Trust Preferred Securities | GCB Capital Trust III | 3-month LIBOR
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Annual interest rate spread, percentage	1.40%	1.40%
Trust Preferred Securities | State Bancorp Capital Trust I
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Face value	$ 10,000,000	$ 10,000,000
Trust Preferred Securities | State Bancorp Capital Trust I | 3-month LIBOR
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Annual interest rate spread, percentage	3.45%	3.45%
Trust Preferred Securities | State Bancorp Capital Trust II
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Face value	$ 10,000,000	$ 10,000,000
Trust Preferred Securities | State Bancorp Capital Trust II | 3-month LIBOR
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Annual interest rate spread, percentage	2.85%	2.85%
Trust Preferred Securities | Aliant Statutory Trust II
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Face value	$ 15,000,000	$ 15,000,000
Trust Preferred Securities | Aliant Statutory Trust II | 3-month LIBOR
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Annual interest rate spread, percentage	1.80%	1.80%

Benefit Plans - Additional Info

Benefit Plans - Additional Information (Detail) - USD ($)	Jan. 01, 2018	Jan. 29, 2014	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2014	Dec. 31, 2015
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Net actuarial loss expected to be recognized as a component of net periodic pension expense			$ 309,000
Discount rate used to compute the obligation			4.30%	3.69%
Projected benefit obligation			$ 157,364,000	$ 170,566,000
Salary expense			18,800,000	10,800,000	$ 10,500,000
Expense for contributions to savings and investment plan			$ 8,500,000	7,100,000	6,700,000
Shares of common stock were available for issuance (in shares)			5,500,000
Stock-based compensation expense			$ 19,472,000	$ 12,204,000	$ 10,032,000
Unrecognized stock-based compensation			$ 16,600,000
Average remaining vesting, years			2 years 1 month 6 days
Shares outstanding in connection with acquisition (in shares)			1,051,787	446,980	732,489		1,383,365
Director Restricted Stock Plan
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Additional fees		$ 0
Stock Options and Restricted Stock
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Stock-based compensation expense			$ 19,500,000	$ 12,200,000	$ 10,000,000
Stock awards granted			$ 4,300,000	$ 4,300,000	$ 3,500,000
Stock Options and Restricted Stock | Employee Stock Incentive Plan
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Weighted average grant date fair value (usd per share)			$ 12.36	$ 11.05	$ 8.32
RSUs
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Granted (in shares)			509,725	370,681	431,069
Vested (in shares)			503,879	0	0
Performance Shares
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Award vesting period			3 years
Stock-based compensation			$ 5,500,000	$ 3,800,000	$ 2,800,000
Performance Shares | Employee Stock Incentive Plan
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Weighted average grant date fair value (usd per share)			$ 11.85
Performance Shares | Vesting based on growth in tangible book value per share plus dividends | Employee Stock Incentive Plan
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Annual vesting percentage			75.00%
Performance Shares | Vesting based on total shareholder return as compared to our peer group | Employee Stock Incentive Plan
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Annual vesting percentage			25.00%
Restricted Stock
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Granted (in shares)			1,263,144	608,786	544,307
Vested (in shares)			1,128,521	736,575	1,050,293
Performance Based Restricted Stock
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Granted (in shares)						240,000
Vested (in shares)				85,000	53,000
Minimum | Restricted Stock
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Award vesting period			1 year
Maximum
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Award vesting period			10 years
Maximum | Restricted Stock
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Award vesting period			5 years
Non-Employee Directors | RSUs
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Granted (in shares)			60,000	45,000
Grant date fair value of awards			$ 60,000	$ 50,000
Qualified Plan | Equity securities
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Target asset allocation percentage			50.00%
Cumulative annual real return			7.00%
Qualified Plan | Equity securities | Consumer Price Index
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Cumulative annual real return, period			5 years
Qualified Plan | Equity securities | S&P 500 Index
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Cumulative annual real return, period			3 years
Qualified Plan | Fixed income securities
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Target asset allocation percentage			50.00%
Cumulative annual real return			3.00%
Qualified Plan | Fixed income securities | Consumer Price Index
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Cumulative annual real return, period			5 years
Qualified Plan | Fixed income securities | Merrill Lynch Intermediate Government/Corporate Index
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Cumulative annual real return, period			3 years
Nonqualified Plan
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Projected benefit obligation			$ 18,708,000	20,175,000
Nonqualified Plan | Former Directors And Senior Management
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Projected benefit obligation			512,000	682,000
Obligation included in other comprehensive loss, net of tax			872,000	994,000
Obligation included in other comprehensive loss, tax			345,000	$ 400,000
Obligation included in other comprehensive loss, net of tax, amount expected to be reclassified			$ 816,000
USAmeriBancorp, Inc.
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Shares in connection with acquisition (in shares)	1,800,000		1,803,165	0	0
Shares outstanding in connection with acquisition (in shares)			813,000
Weighted average exercise price in connection with acquisition	$ 5.47		$ 5	$ 0	$ 0
USAmeriBancorp, Inc. | RSUs
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Time-based RSUs in connection with acquisition			336,379	0	0
USAmeriBancorp, Inc. | Time Based Restricted Stock
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Time-based RSUs in connection with acquisition	336,000
Time-based RSUs outstanding in connection with acquisition			179,000
Stock-based compensation			$ 1,600,000
Other pension plan | Nonqualified Plan | Non Qualified Plans For Former Directors
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Projected benefit obligation			$ 1,700,000	$ 2,100,000

Benefit Plans - Change in Proje

Benefit Plans - Change in Projected Benefit Obligation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	$ 170,566	$ 161,306
Interest cost	5,542	5,713	$ 6,681
Actuarial (gain) loss	(11,540)	10,148
Benefits paid	(7,204)	(6,601)
Projected benefit obligation at end of year	157,364	170,566	161,306
Change in fair value of plan assets:
Fair value of plan assets at beginning of year	222,124	206,639
Actual (loss) return on plan assets	(5,545)	21,468
Employer contributions	1,133	618
Benefits paid	(7,204)	(6,601)
Fair value of plan assets at end of year	210,508	222,124	$ 206,639
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Asset recognized	53,144	51,558
Accumulated benefit obligation	157,364	170,566
Accrued interest receivable	$ 660	$ 993

Benefit Plans - Component of Ne

Benefit Plans - Component of Net Periodic Pension Expense (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Retirement Benefits [Abstract]
Net actuarial loss	$ 42,893	$ 33,602
Deferred tax benefit	(12,205)	(14,044)
Total	$ 30,688	$ 19,558

Benefit Plans - Projected Benef

Benefit Plans - Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets for Non-Qualified Plans (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 157,364	$ 170,566	$ 161,306
Accumulated benefit obligation	157,364	170,566
Fair value of plan assets	210,508	222,124	$ 206,639
Nonqualified Plan
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	18,708	20,175
Accumulated benefit obligation	18,708	20,175
Fair value of plan assets	$ 0	$ 0

Benefit Plans - Components of N

Benefit Plans - Components of Net Periodic Pension Income for Qualified and Non-Qualified Plans (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Retirement Benefits [Abstract]
Interest cost	$ 5,542	$ 5,713	$ 6,681
Expected return on plan assets	(15,912)	(15,163)	(14,539)
Amortization of net loss	625	381	294
Total net periodic pension income	$ (9,745)	$ (9,069)	$ (7,564)

Benefit Plans - Qualified and N

Benefit Plans - Qualified and Non-Qualified Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income or Loss (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Retirement Benefits [Abstract]
Net loss	$ 9,917	$ 3,843
Amortization of prior service cost	(35)	(35)
Amortization of actuarial loss	(625)	(381)
Total recognized in other comprehensive income	9,257	3,427
Total recognized in net periodic pension income and other comprehensive income/loss (before tax)	$ (453)	$ (5,607)

Benefit Plans - Schedule of Exp

Benefit Plans - Schedule of Expected Future Benefit Payments (Detail) $ in Thousands	Dec. 31, 2018USD ($)
Retirement Benefits [Abstract]
2,019	$ 8,213
2,020	8,491
2,021	8,764
2,022	8,938
2,023	9,182
Thereafter	$ 47,835

Benefit Plans - Weighted Averag

Benefit Plans - Weighted Average Discount Rate (Detail)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Retirement Benefits [Abstract]
Discount rate	3.69%	4.12%	4.33%
Expected long-term return on plan assets	7.50%	7.50%	7.50%

Benefit Plans - Fair Value Meas

Benefit Plans - Fair Value Measurement (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	$ 210,508	$ 222,124	$ 206,639
Qualified Plan
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Percent of total investments	100.00%	100.00%
Fair value of plan assets	$ 209,848	$ 221,131
Qualified Plan | Equity securities
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Percent of total investments	28.00%	38.00%
Fair value of plan assets	$ 59,447	$ 84,791
Qualified Plan | Corporate bonds
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Percent of total investments	24.00%	22.00%
Fair value of plan assets	$ 50,889	$ 47,471
Qualified Plan | Mutual funds
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Percent of total investments	17.00%	23.00%
Fair value of plan assets	$ 36,293	$ 48,814
Qualified Plan | U.S. Treasury securities
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Percent of total investments	24.00%	13.00%
Fair value of plan assets	$ 50,838	$ 28,671
Qualified Plan | Cash and money market funds
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Percent of total investments	4.00%	4.00%
Fair value of plan assets	$ 7,429	$ 9,522
Qualified Plan | U.S. government agency securities
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Percent of total investments	3.00%
Fair value of plan assets	$ 4,952	1,862
Qualified Plan | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	154,007	171,798
Qualified Plan | Quoted Prices in Active Markets for Identical Assets (Level 1) | Equity securities
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	59,447	84,791
Qualified Plan | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate bonds
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	0	0
Qualified Plan | Quoted Prices in Active Markets for Identical Assets (Level 1) | Mutual funds
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	36,293	48,814
Qualified Plan | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Treasury securities
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	50,838	28,671
Qualified Plan | Quoted Prices in Active Markets for Identical Assets (Level 1) | Cash and money market funds
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	7,429	9,522
Qualified Plan | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government agency securities
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	0	0
Qualified Plan | Significant Other Observable Inputs (Level 2)
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	55,841	49,333
Qualified Plan | Significant Other Observable Inputs (Level 2) | Equity securities
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	0	0
Qualified Plan | Significant Other Observable Inputs (Level 2) | Corporate bonds
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	50,889	47,471
Qualified Plan | Significant Other Observable Inputs (Level 2) | Mutual funds
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	0	0
Qualified Plan | Significant Other Observable Inputs (Level 2) | U.S. Treasury securities
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	0	0
Qualified Plan | Significant Other Observable Inputs (Level 2) | Cash and money market funds
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	0	0
Qualified Plan | Significant Other Observable Inputs (Level 2) | U.S. government agency securities
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	4,952	1,862
Qualified Plan | Significant Unobservable Inputs (Level 3)
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	0	0
Qualified Plan | Significant Unobservable Inputs (Level 3) | Equity securities
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	0	0
Qualified Plan | Significant Unobservable Inputs (Level 3) | Corporate bonds
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	0	0
Qualified Plan | Significant Unobservable Inputs (Level 3) | Mutual funds
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	0	0
Qualified Plan | Significant Unobservable Inputs (Level 3) | U.S. Treasury securities
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	0	0
Qualified Plan | Significant Unobservable Inputs (Level 3) | Cash and money market funds
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	0	0
Qualified Plan | Significant Unobservable Inputs (Level 3) | U.S. government agency securities
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of plan assets	$ 0	$ 0

Benefit Plans - Changes in Rest

Benefit Plans - Changes in Restricted Stock Awards Outstanding (Detail) - Restricted Stock - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at beginning of year (in shares)	1,771,702	2,100,816	2,755,138
Granted (in shares)	1,263,144	608,786	544,307
Vested (in shares)	(1,128,521)	(736,575)	(1,050,293)
Forfeited (in shares)	(185,357)	(201,325)	(148,336)
Outstanding at end of year (in shares)	1,720,968	1,771,702	2,100,816

Benefit Plans - Changes in RSUs

Benefit Plans - Changes in RSUs Outstanding (Details) - RSUs - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at beginning of year (in shares)	1,114,962	744,281	313,212
Granted (in shares)	509,725	370,681	431,069
Vested (in shares)	(503,879)	0	0
Forfeited (in shares)	(78,301)	0	0
Outstanding at end of year (in shares)	1,378,886	1,114,962	744,281
USAmeriBancorp, Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Acquired from USAB (in shares)	336,379	0	0

Benefit Plans - Stock Options A

Benefit Plans - Stock Options Activity (Detail) - $ / shares	Jan. 01, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Shares
Shares outstanding at beginning of year (in shares)	446,980	446,980	732,489	1,383,365
Shares exercised (in shares)		(975,325)	0	0
Shares forfeited or expired (in shares)		(223,033)	(285,509)	(650,876)
Shares outstanding at end of year (in shares)		1,051,787	446,980	732,489
Shares exercisable at year-end (in shares)		604,003	446,980	632,489
Weighted Average Exercise Price
Weighted average exercise price, outstanding at beginning of year (in usd per share)	$ 13	$ 13	$ 14	$ 16
Weighted average exercise price, exercised (in usd per share)		5	0	0
Weighted average exercise price, forfeited or expired (in usd per share)		14	16	18
Weighted average exercise price, outstanding at end of year (in usd per share)		7	13	14
Weighted average exercise price, exercisable at year-end (in usd per share)		$ 7	$ 13	$ 14
USAmeriBancorp, Inc.
Shares
Shares outstanding from USAB (in shares)	1,800,000	1,803,165	0	0
Shares outstanding at end of year (in shares)		813,000
Weighted Average Exercise Price
Weighted average exercise price, outstanding shares from USAB (in usd per share)	$ 5.47	$ 5	$ 0	$ 0

Benefit Plans - Stock Options O

Benefit Plans - Stock Options Outstanding (Detail)	12 Months Ended
	Dec. 31, 2018$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding (in shares) | shares	604,003
Weighted Average Remaining Contractual Life in Years	3 years 10 months 24 days
Weighted average exercise price (in usd per share)	$ 7
$2-$4
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise prices, lower range limit (in usd per share)	2
Range of exercise prices, upper range limit (in usd per share)	$ 4
Number of options outstanding (in shares) | shares	40,870
Weighted Average Remaining Contractual Life in Years	2 years 10 months 24 days
Weighted average exercise price (in usd per share)	$ 3
4-6
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise prices, lower range limit (in usd per share)	4
Range of exercise prices, upper range limit (in usd per share)	$ 6
Number of options outstanding (in shares) | shares	284,912
Weighted Average Remaining Contractual Life in Years	5 years 1 month 6 days
Weighted average exercise price (in usd per share)	$ 5
6-10
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise prices, lower range limit (in usd per share)	6
Range of exercise prices, upper range limit (in usd per share)	$ 10
Number of options outstanding (in shares) | shares	42,094
Weighted Average Remaining Contractual Life in Years	7 years 7 months 6 days
Weighted average exercise price (in usd per share)	$ 7
10-18
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise prices, lower range limit (in usd per share)	10
Range of exercise prices, upper range limit (in usd per share)	$ 18
Number of options outstanding (in shares) | shares	236,127
Weighted Average Remaining Contractual Life in Years	1 year 10 months 24 days
Weighted average exercise price (in usd per share)	$ 12

Benefit Plans - Changes in Dire

Benefit Plans - Changes in Director's Restricted Stock Awards (Detail) - Director's Restricted Stock - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Changes in Director's Restricted Stock Awards
Outstanding at beginning of year (in shares)	17,885	55,510	80,117
Vested (in shares)	(17,885)	(37,625)	(24,607)
Outstanding at end of year (in shares)	0	17,885	55,510

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Taxes [Line Items]
Tax benefit related to effects of TCJA	$ 2.3
Statutory federal income tax rate	21.00%	35.00%	35.00%
Uncertain tax position, accrued interest		$ 1.8	$ 4.6
Federal
Income Taxes [Line Items]
Operating loss carryforwards	$ 80.2
Obligations of states and state agencies
Income Taxes [Line Items]
Operating loss carryforwards	104
Capital loss carryforward
Income Taxes [Line Items]
Capital loss carryforwards	$ 3.1

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Expense (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current expense:
Federal									$ 51,147	$ 8,483	$ 25,176
State									28,898	5,500	12,904
Total current expense									80,045	13,983	38,080
Deferred (benefit) expense:
Federal									(17,463)	49,169	10,658
State									5,683	27,679	16,496
Total deferred expense									(11,780)	76,848	27,154
Income tax expense	$ 18,074	$ 18,046	$ 18,961	$ 13,184	$ 34,958	$ 17,088	$ 20,714	$ 18,071	$ 68,265	$ 90,831	$ 65,234

Income Taxes - Summary of Defer

Income Taxes - Summary of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Allowance for loan losses	$ 42,882	$ 34,885
Depreciation	19,111	8,336
Employee benefits	13,301	10,596
Investment securities, including other-than-temporary impairment losses	13,222	5,021
Net operating loss carryforwards	21,570	30,658
Purchase accounting	33,629	18,819
Capital loss carryforward	830	0
Other	21,274	21,930
Total deferred tax assets	165,819	130,245
Deferred tax liabilities:
Pension plans	18,786	18,912
Other investments	17,758	13,234
Deferred income	0	37,952
Core deposit intangibles	14,223	5,182
Other	8,858	7,469
Total deferred tax liabilities	59,625	82,749
Valuation Allowance	733	0
Net deferred tax asset (included in other assets)	$ 105,461	$ 47,496

Income Taxes - Summary of Inc_2

Income Taxes - Summary of Income Tax Reconciliation (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Federal income tax at expected statutory rate									$ 69,235	$ 88,458	$ 81,683
State income tax expense, net of federal tax effect									23,851	21,046	19,197
Tax-exempt interest, net of interest incurred to carry tax-exempt securities									(3,974)	(5,245)	(5,308)
Bank owned life insurance									(1,734)	(2,568)	(2,343)
Tax credits from securities and other investments									(20,798)	(27,037)	(25,954)
FDIC insurance premium									3,318	0	0
Impact of the Tax Act									(2,274)	15,441	0
Other, net									641	736	(2,041)
Income tax expense	$ 18,074	$ 18,046	$ 18,961	$ 13,184	$ 34,958	$ 17,088	$ 20,714	$ 18,071	$ 68,265	$ 90,831	$ 65,234

Income Taxes - Summary of Recon

Income Taxes - Summary of Reconciliation of Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of Gross Unrecognized Tax Benefits
Beginning balance	$ 4,238	$ 16,144	$ 19,892
Additions based on tax positions related to prior years	0	1,121	3,958
Settlements with taxing authorities	0	(13,027)	(4,820)
Reductions due to expiration of statute of limitations	(4,238)	0	(2,886)
Ending balance	$ 0	$ 4,238	$ 16,144

Tax Credit Investments Tax Cred

Tax Credit Investments Tax Credit Investments - Affordable Housing Tax Credit Investments, Other Tax Credit Investments, and Related Unfunded Commitments (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Other Assets
Other Assets:
Affordable housing tax credit investments, net	$ 36,961	$ 22,135
Other tax credit investments, net	68,052	42,015
Total tax credit investments, net	105,013	64,150
Other Liabilities
Other Liabilities:
Unfunded affordable housing tax credit commitments	4,520	3,690
Unfunded other tax credit commitments	8,756	15,020
Total unfunded tax credit commitments	$ 13,276	$ 18,710

Tax Credit Investments Tax Cr_2

Tax Credit Investments Tax Credit Investments - Affordable Housing Tax Credit Investments and Other Tax Credit Investments (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Components of Income Tax Expense
Affordable housing tax credits and other tax benefits		$ 6,713	$ 7,383	$ 5,013
Other tax credit investment credits and tax benefits		21,351	35,530	33,294
Total reduction in income tax expense		28,064	42,913	38,307
Amortization Recorded in Non-Interest Expenses
Amortization of Tax Credit Investments
Affordable housing tax credit investment losses		1,880	2,748	2,077
Affordable housing tax credit investment impairment losses	$ 2,200	2,544	4,684	450
Other tax credit investment losses		1,970	2,866	790
Other tax credit investment impairment losses	$ 2,100	17,806	31,449	31,427
Total amortization of tax credit investments recorded in non-interest expense		$ 24,200	$ 41,747	$ 34,744

Commitments and Contingencies -

Commitments and Contingencies - Minimum Aggregate Lease Payments (Detail) $ in Thousands	Dec. 31, 2018USD ($)
Leases [Abstract]
Gross Rents, 2019	$ 29,093
Gross Rents, 2020	29,379
Gross Rents, 2021	28,925
Gross Rents, 2022	27,562
Gross Rents, 2023	25,064
Gross Rents, Thereafter	262,200
Gross Rents, Total lease commitments	402,223
Sublease Rents, 2019	2,382
Sublease Rents, 2020	2,290
Sublease Rents, 2021	2,160
Sublease Rents, 2022	2,002
Sublease Rents, 2023	1,938
Sublease Rents, Thereafter	8,558
Sublease Rents, Total lease commitments	19,330
Net Rents, 2019	26,711
Net Rents, 2020	27,089
Net Rents, 2021	26,765
Net Rents, 2022	25,560
Net Rents, 2023	23,126
Net Rents, Thereafter	253,642
Net Rents, Total lease commitments	$ 382,893

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Detail) $ in Thousands	1 Months Ended	12 Months Ended
	Oct. 31, 2018USD ($)	Dec. 31, 2018USD ($)contractswap	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	May 31, 2018USD ($)
Commitments And Contingencies [Line Items]
Net rental expense		$ 29,000	$ 27,700	$ 27,700
Net of rental income		3,500	3,900	4,000
Aggregate fair value of net liability position		2,200
Derivatives designated as hedging instruments
Commitments And Contingencies [Line Items]
Notional amount of interest rate derivatives		339,536	614,775
Derivatives not designated as hedging instruments:
Commitments And Contingencies [Line Items]
Notional amount of interest rate derivatives		3,495,825	1,800,238
Interest rate swaps
Commitments And Contingencies [Line Items]
Accumulated net after-tax losses related to effective cash flow hedges		4,000	8,300
Reclassified to interest expense		1,300
Interest rate swaps | Derivatives not designated as hedging instruments:
Commitments And Contingencies [Line Items]
Notional amount of interest rate derivatives		$ 3,390,578	1,687,005
Number of derivative instruments | swap		18
Cash flow hedge | Interest rate swaps | Derivatives designated as hedging instruments | Interest Rate Swaps Due Between November 2019 And November 2020
Commitments And Contingencies [Line Items]
Number of derivative contracts held (in contract) | contract		2
Notional amount of derivative asset		$ 75,000
Cash flow hedge | Interest rate swaps | Derivatives designated as hedging instruments | Interest Rate Swaps Due Between November 2019 And November 2020 | Minimum
Commitments And Contingencies [Line Items]
Fixed interest rate		2.72%
Cash flow hedge | Interest rate swaps | Derivatives designated as hedging instruments | Interest Rate Swaps Due Between November 2019 And November 2020 | Maximum
Commitments And Contingencies [Line Items]
Fixed interest rate		2.97%
Cash flow hedge | Interest rate swaps | Derivatives designated as hedging instruments | Interest Rate Swaps Due Between March 2019 And September 2020
Commitments And Contingencies [Line Items]
Number of derivative contracts held (in contract) | contract		4
Notional amount of derivative asset		$ 182,000
Cash flow hedge | Interest rate swaps | Derivatives designated as hedging instruments | Interest Rate Swaps Due Between March 2019 And September 2020 | Minimum
Commitments And Contingencies [Line Items]
Fixed interest rate		2.51%
Cash flow hedge | Interest rate swaps | Derivatives designated as hedging instruments | Interest Rate Swaps Due Between March 2019 And September 2020 | Maximum
Commitments And Contingencies [Line Items]
Fixed interest rate		2.88%
Cash flow hedge | Interest rate swaps | Derivatives designated as hedging instruments | Interest Rate Swaps Due September 2023
Commitments And Contingencies [Line Items]
Notional amount of derivative asset					$ 125,000
Cash flow hedge | Interest rate swaps | Derivatives designated as hedging instruments | Interest Rate Swap Matured in November 2018
Commitments And Contingencies [Line Items]
Notional amount of derivative asset		$ 150,000
Fair value hedge | Interest rate swaps | Derivatives designated as hedging instruments
Commitments And Contingencies [Line Items]
Number of derivative contracts held (in contract) | contract		1
Notional amount of interest rate derivatives		$ 7,536	7,775
Fair value hedge | Interest rate swaps | Derivatives not designated as hedging instruments:
Commitments And Contingencies [Line Items]
Notional amount of interest rate derivatives		$ 10,400
Number of derivative instruments | swap		1
Pending litigation | Maritza Gaston and George Gallart V. Valley National Bancorp
Commitments And Contingencies [Line Items]
Settlement with plaintiffs	$ 1,500
Risk Participation | Interest rate swaps | Derivatives not designated as hedging instruments:
Commitments And Contingencies [Line Items]
Notional amount of interest rate derivatives		$ 109,400
Non-interest income | Fair value hedge | Interest rate swaps
Commitments And Contingencies [Line Items]
Fee income		$ 16,400	$ 8,300	$ 5,000

Commitments and Contingencies_3

Commitments and Contingencies - Summary of Financial Instruments with Off-Balance Sheet Risk (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Commitments to sell loans	$ 58,897	$ 57,405
Standby letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments with off-balance sheet risk	316,941	250,536
Commercial letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Commercial letters of credit	3,100	2,115
Commitments under commercial loans and lines of credit | Commitments under commercial loans and lines of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments with off-balance sheet risk	5,164,186	3,401,653
Home equity and other revolving lines of credit | Unused lines of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments with off-balance sheet risk	1,178,306	1,006,329
Outstanding residential mortgage loan commitments | Outstanding residential mortgage loan commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments with off-balance sheet risk	235,310	192,685
Commitments under unused lines of credit—credit card | Unused lines of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments with off-balance sheet risk	$ 66,229	$ 54,906

Commitments and Contingencies_4

Commitments and Contingencies - Consolidated Statements of Financial Condition Related to Fair Value of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Interest rate caps and swaps
Derivative [Line Items]
Other Assets	$ 0	$ 0
Other Liabilities	22,907	24,212
Derivatives designated as hedging instruments:
Derivative [Line Items]
Notional Amount	339,536	614,775
Derivatives not designated as hedging instruments:
Derivative [Line Items]
Notional Amount	3,495,825	1,800,238
Derivatives not designated as hedging instruments: | Interest rate swaps
Derivative [Line Items]
Notional Amount	3,390,578	1,687,005
Derivatives not designated as hedging instruments: | Mortgage banking derivatives
Derivative [Line Items]
Notional Amount	105,247	113,233
Other Assets | Derivatives designated as hedging instruments:
Derivative [Line Items]
Other Assets	0	650
Other Assets | Derivatives not designated as hedging instruments:
Derivative [Line Items]
Other Assets	48,979	25,767
Other Assets | Derivatives not designated as hedging instruments: | Interest rate swaps
Derivative [Line Items]
Other Assets	48,642	25,696
Other Assets | Derivatives not designated as hedging instruments: | Mortgage banking derivatives
Derivative [Line Items]
Other Assets	337	71
Other Liabilities | Derivatives designated as hedging instruments:
Derivative [Line Items]
Other Liabilities	374	718
Other Liabilities | Derivatives not designated as hedging instruments:
Derivative [Line Items]
Other Liabilities	23,307	23,612
Other Liabilities | Derivatives not designated as hedging instruments: | Interest rate swaps
Derivative [Line Items]
Other Liabilities	22,533	23,494
Other Liabilities | Derivatives not designated as hedging instruments: | Mortgage banking derivatives
Derivative [Line Items]
Other Liabilities	774	118
Cash flow hedge | Derivatives designated as hedging instruments: | Interest rate caps and swaps
Derivative [Line Items]
Notional Amount	332,000	607,000
Cash flow hedge | Other Assets | Derivatives designated as hedging instruments: | Interest rate caps and swaps
Derivative [Line Items]
Other Assets	0	650
Cash flow hedge | Other Liabilities | Derivatives designated as hedging instruments: | Interest rate caps and swaps
Derivative [Line Items]
Other Liabilities	27	81
Fair value hedge | Derivatives designated as hedging instruments: | Interest rate swaps
Derivative [Line Items]
Notional Amount	7,536	7,775
Fair value hedge | Derivatives not designated as hedging instruments: | Interest rate swaps
Derivative [Line Items]
Notional Amount	10,400
Fair value hedge | Other Assets | Derivatives designated as hedging instruments: | Interest rate swaps
Derivative [Line Items]
Other Assets	0	0
Fair value hedge | Other Liabilities | Derivatives designated as hedging instruments: | Interest rate swaps
Derivative [Line Items]
Other Liabilities	$ 347	$ 637

Commitments and Contingencies_5

Commitments and Contingencies - Gains (Losses) Related to Interest Rate Derivatives Designated as Hedges of Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
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	$ (92,541)	$ (80,241)	$ (69,366)	$ (59,897)	$ (48,537)	$ (46,796)	$ (42,187)	$ (36,587)	$ (302,045)	$ (174,107)	$ (148,774)
Amount of gain (loss) recognized in other comprehensive income									2,651	1,005	(4,035)
Amounts Reclassified from Accumulated Other Comprehensive Loss
Amounts Related To Interest Rate Derivatives Included In Income Designated As Hedges Of Cash Flows [Line Items]
Amount of loss reclassified from accumulated other comprehensive loss to interest expense									$ (3,493)	$ (8,579)	$ (13,034)

Commitments and Contingencies_6

Commitments and Contingencies - Gains (Losses) Related to Interest Rate Derivatives Designated as Hedges of Fair Value (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Gain Loss On Fair Value Hedges Recognized In Earnings [Line Items]
Gains (losses) included in the consolidated statements of income	$ (792)	$ (744)	$ 690
Fair value hedge | Interest rate swaps | Interest income
Gain Loss On Fair Value Hedges Recognized In Earnings [Line Items]
Gains (losses) included in the consolidated statements of income	290	348	320
Fair value hedge | Interest rate swaps | Interest expense
Gain Loss On Fair Value Hedges Recognized In Earnings [Line Items]
Gains (losses) included in the consolidated statements of income	0	0	6,670
Fair value hedge | Interest rate caps and swaps | Derivatives designated as hedging instruments | Interest income
Gain Loss On Fair Value Hedges Recognized In Earnings [Line Items]
Gains (losses) included in the consolidated statements of income	(290)	(348)	(320)
Fair value hedge | Interest rate caps and swaps | Derivatives designated as hedging instruments | Interest expense
Gain Loss On Fair Value Hedges Recognized In Earnings [Line Items]
Gains (losses) included in the consolidated statements of income	$ 0	$ 0	$ (6,645)

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies - Hedged Assets Related to Interest Rate Derivatives (Details) - Derivatives designated as hedging instruments - Interest rate swaps - Fair value hedge - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Carrying Amount of the Hedged Asset	$ 7,882	$ 8,412
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Asset	$ 346	$ 637

Commitments and Contingencies_7

Commitments and Contingencies - Gains (Losses) Related to Derivative Instruments Not Designated as Hedging Instruments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Non-designated hedge interest rate derivatives
Other non-interest expense	$ (792)	$ (744)	$ 690

Balance Sheet Offsetting - Summ

Balance Sheet Offsetting - Summary of Valley's Financial Instruments that are Eligible for Offset (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Offsetting Liabilities
Gross Amounts Recognized	$ 172,907	$ 224,212
Gross Amounts Offset	0	0
Net Amounts Presented	172,907	224,212
Gross Amounts Not Offset, Financial Instruments	(1,214)	(5,376)
Gross Amounts Not Offset, Cash Collateral	(151,852)	(208,141)
Net Amount	19,841	10,695
Repurchase agreements
Offsetting Liabilities
Gross Amounts Recognized	150,000	200,000
Gross Amounts Offset	0	0
Total long-term securities sold under agreements to repurchase	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 caps and swaps
Offsetting Assets
Gross Amounts Recognized	48,642	26,346
Gross Amounts Offset	0	0
Net Amounts Presented	48,642	26,346
Gross Amounts Not Offset, Financial Instruments	(1,214)	(5,376)
Gross Amounts Not Offset, Cash Collateral	0	0
Net Amount	47,428	20,970
Offsetting Liabilities
Gross Amounts Recognized	22,907	24,212
Gross Amounts Offset	0	0
Net Amounts Presented	22,907	24,212
Gross Amounts Not Offset, Financial Instruments	(1,214)	(5,376)
Gross Amounts Not Offset, Cash Collateral	(1,852)	(8,141)
Net Amount	$ 19,841	$ 10,695

Regulatory and Capital Requir_3

Regulatory and Capital Requirements - Schedule of Actual Capital Positions and Ratios under Banking Regulations (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Total Risk-based Capital
Risk-based capital actual, amount	$ 2,786,971	$ 2,258,044
Risk-based capital actual, ratio	11.34%	12.61%
Risk-based capital minimum capital requirements, amount	$ 2,426,975	$ 1,656,575
Risk-based capital minimum capital requirements, ratio	9.875%	9.25%
Common Equity Tier 1 Capital
Common equity tier 1 capital, amount	$ 2,071,871	$ 1,651,849
Common equity tier 1 capital, ratio	8.43%	9.22%
Common equity tier 1 capital	$ 1,566,781	$ 1,029,763
Common equity tier 1 capital minimum capital requirements, ratio	6.375%	5.75%
Tier 1 Risk-based Capital
Tier 1 risk-based capital actual, amount	$ 2,286,676	$ 1,864,279
Tier 1 risk-based capital actual, ratio	9.30%	10.41%
Tier 1 risk-based capital minimum capital requirements, amount	$ 1,935,435	$ 1,298,397
Tier 1 risk-based capital minimum capital requirements, ratio	7.875%	7.25%
Tier 1 Leverage Capital
Tier 1 leverage capital actual, amount	$ 2,286,676	$ 1,864,279
Tier 1 leverage capital actual, ratio	7.57%	8.03%
Tier 1 leverage capital minimum capital requirements, amount	$ 1,208,882	$ 928,484
Tier 1 leverage capital minimum capital requirements, ratio	4.00%	4.00%
Valley National Bank
Total Risk-based Capital
Risk-based capital actual, amount	$ 2,698,654	$ 2,185,967
Risk-based capital actual, ratio	10.99%	12.23%
Risk-based capital minimum capital requirements, amount	$ 2,424,059	$ 1,653,088
Risk-based capital minimum capital requirements, ratio	9.875%	9.25%
Risk-based capital to be well capitalized under prompt corrective action provision, amount	$ 2,454,743	$ 1,787,122
Risk-based capital to be well capitalized under prompt corrective action provision, ratio	10.00%	10.00%
Common Equity Tier 1 Capital
Common equity tier 1 capital, amount	$ 2,442,359	$ 1,961,316
Common equity tier 1 capital, ratio	9.95%	10.97%
Common equity tier 1 capital	$ 1,564,899	$ 1,027,595
Common equity tier 1 capital minimum capital requirements, ratio	6.375%	5.75%
Common equity tier 1 capital to be well capitalized under prompt corrective action provision, amount	$ 1,595,583	$ 1,161,629
Common equity tier 1 capital to be well capitalized under prompt corrective action provision, ratio	6.50%	6.50%
Tier 1 Risk-based Capital
Tier 1 risk-based capital actual, amount	$ 2,442,359	$ 1,961,316
Tier 1 risk-based capital actual, ratio	9.95%	10.97%
Tier 1 risk-based capital minimum capital requirements, amount	$ 1,933,110	$ 1,295,663
Tier 1 risk-based capital minimum capital requirements, ratio	7.875%	7.25%
Tier 1 risk-based capital to be well capitalized under prompt corrective action provision, amount	$ 1,963,794	$ 1,429,698
Tier 1 risk-based capital to be well capitalized under prompt corrective action provision, ratio	8.00%	8.00%
Tier 1 Leverage Capital
Tier 1 leverage capital actual, amount	$ 2,442,359	$ 1,961,316
Tier 1 leverage capital actual, ratio	8.09%	8.47%
Tier 1 leverage capital minimum capital requirements, amount	$ 1,207,039	$ 926,459
Tier 1 leverage capital minimum capital requirements, ratio	4.00%	4.00%
Tier 1 leverage capital to be well capitalized under prompt corrective action provision, amount	$ 1,508,798	$ 1,158,074
Tier 1 leverage capital to be well capitalized under prompt corrective action provision, ratio	5.00%	5.00%

Common and Preferred Stock (Det

Common and Preferred Stock (Detail) - USD ($)

Aug. 03, 2017

Jun. 19, 2015

Jan. 01, 2012

Jun. 29, 2009

Dec. 31, 2016

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2010

Jun. 30, 2025

Sep. 30, 2022

Dec. 31, 2008

Dec. 31, 2007

Common Stock [Line Items]

Net proceeds from issuance of common stock

$ 106,400,000

$ 2,704,000

$ 8,207,000

$ 112,085,000

Maximum voluntary optional cash payments made by shareholders to purchase common shares

$ 100,000

Warrant exercise period

10 years

Number of common stock issued upon exercise of warrant (in shares)

489,000

Exercise price of warrant (in usd per share)

$ 11.30

Repurchase Plan

Common Stock [Line Items]

Amount authorized under share repurchase program

$ 4,700,000

Number of shares repurchased (in shares)

0

0

0

Other Stock Repurchases

Common Stock [Line Items]

Number of shares repurchased (in shares)

441,000

218,000

328,000

Average price of shares purchased (in usd per share)

$ 11.83

$ 12.12

$ 9.73

U.S. Treasury Warrants

Common Stock [Line Items]

Exercise price of warrant (in usd per share)

$ 16.12

Amount of shares each warrant entitles buyer to purchase (in shares)

1.1030

Dividend Reinvestment Plan

Common Stock [Line Items]

Number of shares reissued from treasury stock (in shares)

87,000

713,000

554,000

Proceeds from treasury stock reissued

$ 1,000,000

$ 8,200,000

$ 5,200,000

Warrants | U.S. Treasury Warrants

Common Stock [Line Items]

Value of warrants to purchase common stock

$ 2,500,000

Common Stock

Common Stock [Line Items]

Stock issued (in shares)

9,240,000

Series A Preferred Stock

Common Stock [Line Items]

Stock issued (in shares)

4,600,000

Liquidation preference per share (in usd per share)

$ 25

Fixed dividend rate per annum

6.25%

Proceeds from issuance of preferred stock, net of issuance costs

$ 111,600,000

Series A Preferred Stock | LIBOR | Forecast

Common Stock [Line Items]

Spread on variable dividend rate per annum

3.85%

Series B Preferred Stock

Common Stock [Line Items]

Stock issued (in shares)

4,000,000

Liquidation preference per share (in usd per share)

$ 25

Fixed dividend rate per annum

5.50%

Proceeds from issuance of preferred stock, net of issuance costs

$ 98,100,000

Series B Preferred Stock | LIBOR | Forecast

Common Stock [Line Items]

Spread on variable dividend rate per annum

3.578%

Other Comprehensive Income - Sc

Other Comprehensive Income - Schedule of Comprehensive Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Before reclassification, net of tax	$ (28,209)	$ (1,296)	$ (3,039)
Reclassification, net of tax	5,324	5,311	6,641
Net change before tax	(32,185)	7,611	6,557
Net change, tax	9,300	(3,596)	(2,955)
Other comprehensive (loss) income, net	(22,885)	4,015	3,602
Unrealized Gains and Losses on AFS Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Before reclassification, before tax	(32,123)	636	(7,294)
Before reclassification, tax	9,191	(284)	3,001
Before reclassification, net of tax	(22,932)	352	(4,293)
Reclassification adjustment before tax	2,342	20	(777)
Reclassification, tax	(485)	(9)	312
Reclassification, net of tax	1,857	11	(465)
Net change before tax	(29,781)	656	(8,071)
Net change, tax	8,706	(293)	3,313
Other comprehensive (loss) income, net	(21,075)	363	(4,758)
Non-credit Impairment Losses on Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Before reclassification, before tax	0	849	719
Before reclassification, tax	0	(351)	(302)
Before reclassification, net of tax	0	498	417
Reclassification adjustment before tax	531	(284)	(921)
Reclassification, tax	(151)	117	382
Reclassification, net of tax	380	(167)	(539)
Net change before tax	531	565	(202)
Net change, tax	(151)	(234)	80
Other comprehensive (loss) income, net	380	331	(122)
Unrealized Gains and Losses on Derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Before reclassification, before tax	2,651	1,005	(4,035)
Before reclassification, tax	(777)	(429)	1,574
Before reclassification, net of tax	1,874	576	(2,461)
Reclassification adjustment before tax	3,493	8,579	13,034
Reclassification, tax	(999)	(3,551)	(5,393)
Reclassification, net of tax	2,494	5,028	7,641
Net change before tax	6,144	9,584	8,999
Net change, tax	(1,776)	(3,980)	(3,819)
Other comprehensive (loss) income, net	4,368	5,604	5,180
Net (losses) gains arising during the period
Accumulated Other Comprehensive Income (Loss) [Line Items]
Before reclassification, before tax	9,916	3,843	(5,837)
Before reclassification, tax	(2,765)	(1,121)	2,539
Before reclassification, net of tax	7,151	2,722	(3,298)
Amortization of prior service credit (cost )
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification adjustment before tax	(212)	(268)	300
Reclassification, tax	66	77	(119)
Reclassification, net of tax	(146)	(191)	181
Amortization of net loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification adjustment before tax	625	381	294
Reclassification, tax	(178)	(133)	(109)
Reclassification, net of tax	447	248	185
Net change
Accumulated Other Comprehensive Income (Loss) [Line Items]
Before reclassification, net of tax	(7,151)	(2,722)	3,298
Reclassification, net of tax	593	439	4
Net change before tax	(9,079)	(3,194)	5,831
Net change, tax	2,521	911	(2,529)
Other comprehensive (loss) income, net	$ (6,558)	$ (2,283)	$ 3,302

Other Comprehensive Income - _2

Other Comprehensive Income - Schedule of Changes in Accumulated Other Comprehensive Loss after Tax (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 2,533,165	$ 2,377,156	$ 2,207,091
Beginning balance, adjusted				$ 2,305,863
Other comprehensive (loss) income before reclassifications	(28,209)	(1,296)	(3,039)
Amounts reclassified from other comprehensive (loss) income	5,324	5,311	6,641
Other comprehensive (loss) income, net	(22,885)	4,015	3,602
Reclassification due to the adoption of ASU No. 2018-02		(7,927)
Ending balance	3,350,454	2,533,165	2,377,156
Unrealized Gains and Losses on AFS Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(12,004)	(10,094)	(5,336)
Beginning balance, adjusted				(12,484)
Other comprehensive (loss) income before reclassifications	(22,932)	352	(4,293)
Amounts reclassified from other comprehensive (loss) income	1,857	11	(465)
Other comprehensive (loss) income, net	(21,075)	363	(4,758)
Reclassification due to the adoption of ASU No. 2018-02		(2,273)
Ending balance	(33,559)	(12,004)	(10,094)
Non-credit Impairment Losses on Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(380)	(642)	(520)
Beginning balance, adjusted				(380)
Other comprehensive (loss) income before reclassifications	0	498	417
Amounts reclassified from other comprehensive (loss) income	380	(167)	(539)
Other comprehensive (loss) income, net	380	331	(122)
Reclassification due to the adoption of ASU No. 2018-02		(69)
Ending balance	0	(380)	(642)
Unrealized Gains and Losses on Derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(8,338)	(12,464)	(17,644)
Beginning balance, adjusted				(8,399)
Other comprehensive (loss) income before reclassifications	1,874	576	(2,461)
Amounts reclassified from other comprehensive (loss) income	2,494	5,028	7,641
Other comprehensive (loss) income, net	4,368	5,604	5,180
Reclassification due to the adoption of ASU No. 2018-02		(1,478)
Ending balance	(4,031)	(8,338)	(12,464)
Defined Benefit Pension Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(25,283)	(18,893)	(22,195)
Beginning balance, adjusted				(25,283)
Other comprehensive (loss) income before reclassifications	(7,151)	(2,722)	3,298
Amounts reclassified from other comprehensive (loss) income	593	439	4
Other comprehensive (loss) income, net	(6,558)	(2,283)	3,302
Reclassification due to the adoption of ASU No. 2018-02		(4,107)
Ending balance	(31,841)	(25,283)	(18,893)
Total Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(46,005)	(42,093)	(45,695)
Beginning balance, adjusted				(46,546)
Reclassification due to the adoption of ASU No. 2018-02		(7,927)
Ending balance	$ (69,431)	$ (46,005)	$ (42,093)
ASU 2016-01 | Unrealized Gains and Losses on AFS Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification due to the adoption of an ASU				(480)
ASU 2016-01 | Non-credit Impairment Losses on Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification due to the adoption of an ASU				0
ASU 2016-01 | Unrealized Gains and Losses on Derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification due to the adoption of an ASU				0
ASU 2016-01 | Defined Benefit Pension Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification due to the adoption of an ASU				0
ASU 2016-01 | Total Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification due to the adoption of an ASU				(480)
ASU 2017-12 | Unrealized Gains and Losses on AFS Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification due to the adoption of an ASU				0
ASU 2017-12 | Non-credit Impairment Losses on Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification due to the adoption of an ASU				0
ASU 2017-12 | Unrealized Gains and Losses on Derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification due to the adoption of an ASU				(61)
ASU 2017-12 | Defined Benefit Pension Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification due to the adoption of an ASU				0
ASU 2017-12 | Total Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification due to the adoption of an ASU				$ (61)

Quarterly Financial Data - Summ

Quarterly Financial Data - Summary of Quarterly Financial Data (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Interest income	$ 314,594	$ 297,041	$ 280,118	$ 267,495	$ 217,951	$ 210,741	$ 207,007	$ 198,455	$ 1,159,248	$ 834,154	$ 761,888
Interest expense	92,541	80,241	69,366	59,897	48,537	46,796	42,187	36,587	302,045	174,107	148,774
Net interest income	222,053	216,800	210,752	207,598	169,414	163,945	164,820	161,868	857,203	660,047	613,114
Provision for credit losses	7,859	6,552	7,142	10,948	2,200	1,640	3,632	2,470	32,501	9,942	11,869
Non-interest income:
Gains on sales of loans, net	2,372	3,748	7,642	6,753	6,375	5,520	4,791	4,128	20,515	20,814	22,030
Other non-interest income	32,322	25,290	30,427	25,498	23,784	21,477	24,039	21,592	43,206	24,967	21,988
Non-interest expense:
Amortization of tax credit investments	9,044	5,412	4,470	5,274	20,302	8,389	7,732	5,324	24,200	41,747	34,744
Other non-interest expense	144,668	146,269	145,446	168,478	116,015	124,176	111,507	115,628	69,357	46,154	51,816
Income Before Income Taxes	95,176	87,605	91,763	55,149	61,056	56,737	70,779	64,166	329,693	252,738	233,380
Income tax expense	18,074	18,046	18,961	13,184	34,958	17,088	20,714	18,071	68,265	90,831	65,234
Net Income	77,102	69,559	72,802	41,965	26,098	39,649	50,065	46,095	261,428	161,907	168,146
Dividends on preferred stock	3,172	3,172	3,172	3,172	3,172	2,683	1,797	1,797	12,688	9,449	7,188
Net Income Available to Common Shareholders	$ 73,930	$ 66,387	$ 69,630	$ 38,793	$ 22,926	$ 36,966	$ 48,268	$ 44,298	$ 248,740	$ 152,458	$ 160,958
Earnings per common share:
Basic (in usd per share)	$ 0.22	$ 0.20	$ 0.21	$ 0.12	$ 0.09	$ 0.14	$ 0.18	$ 0.17	$ 0.75	$ 0.58	$ 0.63
Diluted (in usd per share)	0.22	0.20	0.21	0.12	0.09	0.14	0.18	0.17	0.75	0.58	0.63
Cash dividends declared per common share (in usd per share)	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.44	$ 0.44	$ 0.44
Weighted average number of common shares outstanding:
Basic (in shares)	331,492,648	331,486,500	331,318,381	330,727,416	264,332,895	264,058,174	263,958,292	263,797,024	331,258,964	264,038,123	254,841,571
Diluted (in shares)	332,856,385	333,000,242	332,895,483	332,465,527	265,288,067	264,936,220	264,778,242	264,546,266	332,693,718	264,889,007	255,268,336

Parent Company Information - Sc

Parent Company Information - Schedule of Condensed Statements of Financial Condition (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Assets
Available for sale	$ 1,749,544	$ 1,493,905
Other assets	659,721	542,839
Total Assets	31,863,088	24,002,306
Liabilities and Shareholders’ Equity
Long-term borrowings	1,654,268	2,315,819
Junior subordinated debentures issued to capital trusts	55,370	41,774
Shareholders’ equity	3,350,454	2,533,165	$ 2,377,156	$ 2,207,091
Total Liabilities and Shareholders’ Equity	31,863,088	24,002,306
Parent Company
Assets
Cash	109,839	90,807
Available for sale	0	254
Investments in and receivables due from subsidiaries	3,609,836	2,738,700
Other assets	32,721	36,277
Total Assets	3,752,396	2,866,038
Liabilities and Shareholders’ Equity
Dividends payable to shareholders	37,644	33,100
Long-term borrowings	294,602	235,153
Junior subordinated debentures issued to capital trusts	55,370	41,774
Accrued expenses and other liabilities	14,326	22,846
Shareholders’ equity	3,350,454	2,533,165
Total Liabilities and Shareholders’ Equity	$ 3,752,396	$ 2,866,038

Parent Company Information - _2

Parent Company Information - Schedule of Condensed Statements of Income (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income
Gains on securities transactions, net									$ (2,342)	$ (20)	$ 777
Losses on sales of assets, net									(2,402)	(95)	1,358
Income tax benefit	$ 18,074	$ 18,046	$ 18,961	$ 13,184	$ 34,958	$ 17,088	$ 20,714	$ 18,071	68,265	90,831	65,234
Net Income	77,102	69,559	72,802	41,965	26,098	39,649	50,065	46,095	261,428	161,907	168,146
Dividends on preferred stock	3,172	3,172	3,172	3,172	3,172	2,683	1,797	1,797	12,688	9,449	7,188
Net Income Available to Common Shareholders	$ 73,930	$ 66,387	$ 69,630	$ 38,793	$ 22,926	$ 36,966	$ 48,268	$ 44,298	248,740	152,458	160,958
Parent Company
Income
Dividends from subsidiary									155,000	122,000	90,000
Income from subsidiary									4,550	4,550	4,550
Gains on securities transactions, net									3	0	239
Losses on sales of assets, net									(147)	0	0
Other interest and income									39	135	34
Total Income									159,445	126,685	94,823
Total Expenses									32,269	39,621	33,604
Income before income tax and equity in undistributed earnings of subsidiary									127,176	87,064	61,219
Income tax benefit									(20,547)	(30,179)	(23,349)
Income before equity in undistributed earnings of subsidiary									147,723	117,243	84,568
Equity in undistributed earnings of subsidiary									113,705	44,664	83,578
Net Income									261,428	161,907	168,146
Dividends on preferred stock									12,688	9,449	7,188
Net Income Available to Common Shareholders									$ 248,740	$ 152,458	$ 160,958

Parent Company Information - _3

Parent Company Information - Schedule of Condensed Statements of Cash Flows (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net Income		$ 77,102	$ 69,559	$ 72,802	$ 41,965	$ 26,098	$ 39,649	$ 50,065	$ 46,095	$ 261,428	$ 161,907	$ 168,146
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation										19,472	12,204	10,032
Net amortization of premiums and accretion of discounts on borrowings										38,454	46,346	24,310
Losses (gains) on securities transactions, net										2,342	20	(777)
Losses on sales of assets, net										2,402	95	(1,358)
Net change in:
Other assets										(33,145)	(57,353)	47,458
Net cash provided by operating activities										593,589	619,230	419,177
Cash flows from investing activities:
Sales										44,377	2,727	4,782
Cash and cash equivalents acquired in acquisitions										156,612	0	0
Net cash used in investing activities										(3,129,551)	(1,547,548)	(1,527,313)
Cash flows from financing activities:
Proceeds from issuance of preferred stock, net										0	98,101	0
Dividends paid to preferred shareholders										(15,859)	(6,277)	(7,188)
Dividends paid to common shareholders										(138,857)	(115,881)	(111,813)
Purchase of common shares to treasury										(3,801)	(2,645)	(3,191)
Common stock issued, net	$ 106,400									2,704	8,207	112,085
Net cash provided by financing activities										2,548,481	951,927	1,086,837
Net change in cash and cash equivalents										12,519	23,609	(21,299)
Cash and cash equivalents at beginning of year					416,110				392,501	416,110	392,501	413,800
Cash and cash equivalents at end of year	392,501	428,629				416,110				428,629	416,110	392,501
Parent Company
Cash flows from operating activities:
Net Income										261,428	161,907	168,146
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiary										(113,705)	(44,664)	(83,578)
Stock-based compensation										19,472	12,204	10,032
Net amortization of premiums and accretion of discounts on borrowings										63	197	163
Losses (gains) on securities transactions, net										(3)	0	(239)
Losses on sales of assets, net										147	0	0
Net change in:
Other assets										9,928	(89)	8,007
Accrued expenses and other liabilities										(10,657)	8,737	18,381
Net cash provided by operating activities										166,673	138,292	120,912
Cash flows from investing activities:
Sales										257	0	739
Cash and cash equivalents acquired in acquisitions										7,915	0	0
Capital contributions to subsidiary										0	(98,000)	(106,000)
Net cash used in investing activities										8,172	(98,000)	(105,261)
Cash flows from financing activities:
Proceeds from issuance of preferred stock, net										0	98,101	0
Dividends paid to preferred shareholders										(15,859)	(6,277)	(7,188)
Dividends paid to common shareholders										(138,857)	(115,881)	(111,813)
Purchase of common shares to treasury										(3,801)	(2,644)	(3,191)
Common stock issued, net										2,704	8,207	112,085
Net cash provided by financing activities										(155,813)	(18,494)	(10,107)
Net change in cash and cash equivalents										19,032	21,798	5,544
Cash and cash equivalents at beginning of year					$ 90,807				$ 69,009	90,807	69,009	63,465
Cash and cash equivalents at end of year	$ 69,009	$ 109,839				$ 90,807				$ 109,839	$ 90,807	$ 69,009

Business Segments - Additional

Business Segments - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2018segment
Segment Reporting [Abstract]
Number of business segments	4

Business Segments - Schedule of

Business Segments - Schedule of Financial Data for Business Segments (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Average interest earning assets (unaudited)	$ 27,702,911				$ 21,488,498				$ 27,702,911	$ 21,488,498	$ 19,829,312
Interest income	314,594	$ 297,041	$ 280,118	$ 267,495	217,951	$ 210,741	$ 207,007	$ 198,455	1,159,248	834,154	761,888
Interest expense	92,541	80,241	69,366	59,897	48,537	46,796	42,187	36,587	302,045	174,107	148,774
Net Interest Income	222,053	216,800	210,752	207,598	169,414	163,945	164,820	161,868	857,203	660,047	613,114
Provision for credit losses	7,859	6,552	7,142	10,948	2,200	1,640	3,632	2,470	32,501	9,942	11,869
Net Interest Income After Provision for Credit Losses									824,702	650,105	601,245
Non-interest income									134,052	111,706	108,260
Non-interest expense:									629,061	509,073	476,125
Internal expense transfer									0	0	0
Income Before Income Taxes	$ 95,176	$ 87,605	$ 91,763	$ 55,149	$ 61,056	$ 56,737	$ 70,779	$ 64,166	$ 329,693	$ 252,738	$ 233,380
Return on average interest earning assets (pre-tax)	1.19%				1.18%				1.19%	1.18%	1.18%
Corporate and Other Adjustments
Segment Reporting Information [Line Items]
Average interest earning assets (unaudited)	$ 0				$ 0				$ 0	$ 0	$ 0
Interest income									(5,961)	(8,623)	(8,760)
Interest expense									15,577	11,813	11,520
Net Interest Income									(21,538)	(20,436)	(20,280)
Provision for credit losses									0	0	0
Net Interest Income After Provision for Credit Losses									(21,538)	(20,436)	(20,280)
Non-interest income									41,806	29,172	29,796
Non-interest expense:									440,177	364,457	341,978
Internal expense transfer									(344,916)	(283,247)	(280,251)
Income Before Income Taxes									(74,993)	(72,474)	(52,211)
Consumer Lending | Operating Segments
Segment Reporting Information [Line Items]
Average interest earning assets (unaudited)	$ 6,197,161				$ 5,166,171				6,197,161	5,166,171	5,081,798
Interest income									235,264	182,508	176,929
Interest expense									64,083	39,018	35,175
Net Interest Income									171,181	143,490	141,754
Provision for credit losses									5,550	3,197	905
Net Interest Income After Provision for Credit Losses									165,631	140,293	140,849
Non-interest income									61,280	63,375	63,443
Non-interest expense:									92,462	72,207	62,721
Internal expense transfer									77,164	68,007	71,578
Income Before Income Taxes									$ 57,285	$ 63,454	$ 69,993
Return on average interest earning assets (pre-tax)	0.92%				1.23%				0.92%	1.23%	1.38%
Commercial Lending | Operating Segments
Segment Reporting Information [Line Items]
Average interest earning assets (unaudited)	$ 17,143,169				$ 12,652,832				$ 17,143,169	$ 12,652,832	$ 11,318,947
Interest income									798,974	552,297	504,341
Interest expense									177,273	95,562	78,347
Net Interest Income									621,701	456,735	425,994
Provision for credit losses									26,951	6,745	10,964
Net Interest Income After Provision for Credit Losses									594,750	449,990	415,030
Non-interest income									22,275	11,414	8,327
Non-interest expense:									95,171	71,216	70,145
Internal expense transfer									213,399	166,847	160,198
Income Before Income Taxes									$ 308,455	$ 223,341	$ 193,014
Return on average interest earning assets (pre-tax)	1.80%				1.77%				1.80%	1.77%	1.71%
Investment Management | Operating Segments
Segment Reporting Information [Line Items]
Average interest earning assets (unaudited)	$ 4,362,581				$ 3,669,495				$ 4,362,581	$ 3,669,495	$ 3,428,567
Interest income									130,971	107,972	89,378
Interest expense									45,112	27,714	23,732
Net Interest Income									85,859	80,258	65,646
Provision for credit losses									0	0	0
Net Interest Income After Provision for Credit Losses									85,859	80,258	65,646
Non-interest income									8,691	7,745	6,694
Non-interest expense:									1,251	1,193	1,281
Internal expense transfer									54,353	48,393	48,475
Income Before Income Taxes									$ 38,946	$ 38,417	$ 22,584
Return on average interest earning assets (pre-tax)	0.89%				1.05%				0.89%	1.05%	0.66%

Subsequent Event (Details)

Subsequent Event (Details) $ in Millions	36 Months Ended
	Dec. 31, 2015USD ($)	Feb. 28, 2019branchpropertycorporate_location
Subsequent Event [Line Items]
DC Solar tax credit benefits | $	$ 22.8
February sale leaseback agreement | Subsequent event
Subsequent Event [Line Items]
Number of properties | property		29
Number of corporate locations | corporate_location		1
Number of branches | branch		28

Uncategorized Items - vly-20181

Label	Element	Value
Common Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	$ 92,727,000
Additional Paid-in Capital [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	2,060,356,000
Treasury Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	(337,000)
Preferred Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	209,691,000
Retained Earnings [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	199,663,000
Accounting Standards Update 2017-12 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	61,000
Accounting Standards Update 2016-01 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	480,000
Accounting Standards Update 2016-16 [Member] | AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 0