2012 Q2 Form 10-Q Financial Statement

#000119312512346204 Filed on August 09, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q2
Revenue $166.9M $167.8M
YoY Change -0.56%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.000M $5.900M
YoY Change 18.64% -9.23%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $44.79M $50.12M
YoY Change -10.65%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $47.19M $61.61M
YoY Change -23.41% 30.8%
Income Tax $14.37M $25.00M
% Of Pretax Income 30.45% 40.58%
Net Earnings $32.82M $36.61M
YoY Change -10.35% 10.93%
Net Earnings / Revenue 19.67% 21.82%
Basic Earnings Per Share $0.17 $0.21
Diluted Earnings Per Share $0.17 $0.21
COMMON SHARES
Basic Shares Outstanding 197.2M shares 178.3M shares
Diluted Shares Outstanding 197.3M shares 178.3M shares

Balance Sheet

Concept 2012 Q2 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.968B
YoY Change
Cash & Equivalents $451.7M $526.7M
Short-Term Investments $2.516B
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $273.6M $265.0M
YoY Change 3.26% 0.38%
Goodwill $420.4M
YoY Change
Intangibles $26.82M
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $16.02B $14.47B
YoY Change 10.7% 2.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $200.0M $362.0M
YoY Change -44.75% 132.05%
Deferred Revenue
YoY Change
Short-Term Debt $523.1M $171.0M
YoY Change 205.92% -7.07%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $200.0M $362.0M
YoY Change -44.75% 132.05%
LONG-TERM LIABILITIES
Long-Term Debt $2.915B $2.912B
YoY Change 0.1% -5.39%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $2.915B $2.912B
YoY Change 0.1% -5.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $200.0M $362.0M
Total Long-Term Liabilities $2.915B $2.912B
Total Liabilities $14.52B $13.16B
YoY Change 10.31% 2.45%
SHAREHOLDERS EQUITY
Retained Earnings $92.93M $91.87M
YoY Change 1.15% 26.28%
Common Stock $1.454B $1.237B
YoY Change 17.59% 0.13%
Preferred Stock
YoY Change
Treasury Stock (at cost) $22.00K $6.925M
YoY Change -99.68% -73.7%
Treasury Stock Shares 2.079M shares
Shareholders Equity $1.503B $1.311B
YoY Change
Total Liabilities & Shareholders Equity $16.02B $14.47B
YoY Change 10.7% 2.54%

Cashflow Statement

Concept 2012 Q2 2011 Q2
OPERATING ACTIVITIES
Net Income $32.82M $36.61M
YoY Change -10.35% 10.93%
Depreciation, Depletion And Amortization $7.000M $5.900M
YoY Change 18.64% -9.23%
Cash From Operating Activities $19.80M $32.20M
YoY Change -38.51% -60.15%
INVESTING ACTIVITIES
Capital Expenditures -$4.600M -$4.600M
YoY Change 0.0% 187.5%
Acquisitions
YoY Change
Other Investing Activities -$61.10M $314.2M
YoY Change -119.45% 51.93%
Cash From Investing Activities -$65.70M $309.6M
YoY Change -121.22% 51.02%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.200M -140.6M
YoY Change -97.72% -64.93%
NET CHANGE
Cash From Operating Activities 19.80M 32.20M
Cash From Investing Activities -65.70M 309.6M
Cash From Financing Activities -3.200M -140.6M
Net Change In Cash -49.10M 201.2M
YoY Change -124.4% -274.8%
FREE CASH FLOW
Cash From Operating Activities $19.80M $32.20M
Capital Expenditures -$4.600M -$4.600M
Free Cash Flow $24.40M $36.80M
YoY Change -33.7% -55.34%

Facts In Submission

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CY2012Q2 vly Financing Receivable Recorded Investment Current Non Pci Loans
FinancingReceivableRecordedInvestmentCurrentNonPCILoans
9925104000
CY2012Q2 vly Financing Receivable Recorded Investment Non Pci Loans Total
FinancingReceivableRecordedInvestmentNonPCILoansTotal
10082865000
CY2010Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
366286000
CY2010Q4 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYield
101052000
CY2010Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
124704000
CY2010Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
10500000
CY2010Q4 vly Fdic Loss Share Receivable
FdicLossShareReceivable
89359000
CY2011Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
184075000
CY2011Q4 us-gaap Other Assets
OtherAssets
586134000
CY2011Q4 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
6483000
CY2011Q4 us-gaap Held To Maturity Securities Unrecognized Holding Loss
HeldToMaturitySecuritiesUnrecognizedHoldingLoss
24639000
CY2011Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
598837000
CY2011Q4 us-gaap Liabilities
Liabilities
12978259000
CY2011Q4 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Acquired During Period At Acquisition At Fair Value
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAcquiredDuringPeriodAtAcquisitionAtFairValue
1098948000
CY2011Q4 us-gaap Long Term Debt
LongTermDebt
2726099000
CY2011Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses
HeldToMaturitySecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAggregateLosses
-23552000
CY2011Q4 us-gaap Availableforsale Securities Continuous Unrealized Loss Position Aggregate Losses2
AvailableforsaleSecuritiesContinuousUnrealizedLossPositionAggregateLosses2
-49745000
CY2011Q4 us-gaap Held To Maturity Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions
HeldToMaturitySecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions
28 pure
CY2011Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
34776000 shares
CY2011Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
232023233 shares
CY2011Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
85657000
CY2011Q4 us-gaap Due From Customer Acceptances
DueFromCustomerAcceptances
5903000
CY2011Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
566520000
CY2011Q4 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Acquired During Period Cash Flows Expected To Be Collected At Acquisition
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAcquiredDuringPeriodCashFlowsExpectedToBeCollectedAtAcquisition
1267219000
CY2011Q4 us-gaap Common Stock No Par Value
CommonStockNoParValue
0
CY2011Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
30000000 shares
CY2011Q4 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Outstanding Balance
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesOutstandingBalance
399600000
CY2011Q4 us-gaap Available For Sale Securities Gross Unrealized Losses1
AvailableForSaleSecuritiesGrossUnrealizedLosses1
49745000
CY2011Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
85311000
CY2011Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
2027197000
CY2011Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-62441000
CY2011Q4 us-gaap Marketable Securities
MarketableSecurities
2547374000
CY2011Q4 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
2781597000
CY2011Q4 us-gaap Trading Securities
TradingSecurities
21938000
CY2011Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
1958916000
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
90011000
CY2011Q4 us-gaap Assets
Assets
14244507000
CY2011Q4 us-gaap Deposits
Deposits
9673102000
CY2011Q4 us-gaap Availableforsale Securities Gross Unrealized Gain
AvailableforsaleSecuritiesGrossUnrealizedGain
17428000
CY2011Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
23243000
CY2011Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
79948000
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
379049000
CY2011Q4 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
52527000
CY2011Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
165865000
CY2011Q4 us-gaap Bank Acceptances Executed And Outstanding
BankAcceptancesExecutedAndOutstanding
5903000
CY2011Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
4016000
CY2011Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
174708000
CY2011Q4 us-gaap Availableforsale Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses2
AvailableforsaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAggregateLosses2
-42182000
CY2011Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
9665839000
CY2011Q4 us-gaap Principal Amount Outstanding On Loans Held For Sale Or Securitization
PrincipalAmountOutstandingOnLoansHeldForSaleOrSecuritization
24300000
CY2011Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
14244507000
CY2011Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
178717806 shares
CY2011Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
145890000
CY2011Q4 us-gaap Common Stock Value
CommonStockValue
59955000
CY2011Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
61823000
CY2011Q4 us-gaap Goodwill
Goodwill
317962000
CY2011Q4 us-gaap Availableforsale Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses2
AvailableforsaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAggregateLosses2
-7563000
CY2011Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
177517000
CY2011Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
212899000
CY2011Q4 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYield
66724000
CY2011Q4 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Acquired During Period Contractually Required Payments Receivable At Acquisition
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAcquiredDuringPeriodContractuallyRequiredPaymentsReceivableAtAcquisition
1333686000
CY2011Q4 us-gaap Time Deposits
TimeDeposits
2501384000
CY2011Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
20818000
CY2011Q4 us-gaap Business Acquisition Purchase Price Allocation Current Liabilities Other Liabilities
BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesOtherLiabilities
51312000
CY2011Q4 us-gaap Treasury Stock Value
TreasuryStockValue
412000
CY2011Q4 us-gaap Junior Subordinated Debenture Owed To Unconsolidated Subsidiary Trust
JuniorSubordinatedDebentureOwedToUnconsolidatedSubsidiaryTrust
185598000
CY2011Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionFairValue
148879000
CY2011Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2011Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2011Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
265475000
CY2011Q4 us-gaap Heldtomaturity Securities Unrecognized Holding Gain
HeldtomaturitySecuritiesUnrecognizedHoldingGain
92920000
CY2011Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
124264000
CY2011Q4 us-gaap Cash And Due From Banks
CashAndDueFromBanks
372566000
CY2011Q4 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2011Q4 us-gaap Certain Loans Acquired In Transfer Nonaccretable Difference
CertainLoansAcquiredInTransferNonaccretableDifference
66467000
CY2011Q4 us-gaap Business Acquisition Purchase Price Allocation Liabilities Assumed
BusinessAcquisitionPurchasePriceAllocationLiabilitiesAssumed
1476250000
CY2011Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Aggregate Losses
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionAggregateLosses
-24639000
CY2011Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
9527797000
CY2011Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
133802000
CY2011Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
95700000
CY2011Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
212849000
CY2011Q4 us-gaap Bank Owned Life Insurance
BankOwnedLifeInsurance
303867000
CY2011Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
97569000
CY2011Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1179135000
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
1266248000
CY2011Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
38185000
CY2011Q4 us-gaap Available For Sale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions
AvailableForSaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions
43 Security
CY2011Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
29070000
CY2011Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
63222000
CY2011Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAggregateLosses
-1087000
CY2011Q4 vly Allowance For Covered Loans
AllowanceForCoveredLoans
13528000
CY2011Q4 vly Allowance For Credit Losses
AllowanceForCreditLosses
136185000
CY2011Q4 vly Allowance For Non Covered Loans
AllowanceForNonCoveredLoans
120274000
CY2011Q4 vly Allowance For Unfunded Letters Of Credit
AllowanceForUnfundedLettersOfCredit
2383000
CY2011Q4 vly Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Acquired During Period Interest Component Of Cash Flows Expected To Be Collected At Acquisition
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAcquiredDuringPeriodInterestComponentOfCashFlowsExpectedToBeCollectedAtAcquisition
168271000
CY2011Q4 vly Covered Loans
CoveredLoans
271844000
CY2011Q4 vly Fdic Loss Share Receivable
FdicLossShareReceivable
74390000
CY2011Q4 vly Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due
FinancingReceivableRecordedInvestmentThirtyToEightyNineDaysPastDue
37585000
CY2011Q4 vly Loans Held For Sale At Fair Value
LoansHeldForSaleAtFairValue
25169000
CY2011Q4 vly Non Covered Loans Net Of Unearned Discount And Deferred Loan Fees
NonCoveredLoansNetOfUnearnedDiscountAndDeferredLoanFees
7500000
CY2011Q4 vly Non Performing Troubled Debt Restructuring Loans
NonPerformingTroubledDebtRestructuringLoans
15500000
CY2011Q4 vly Savings Now And Money Market
SavingsNowAndMoneyMarket
4390121000
CY2011Q4 vly Junior Subordinated Debentures Issued To Capital Trusts Fair Value
JuniorSubordinatedDebenturesIssuedToCapitalTrustsFairValue
160478000
CY2011Q4 vly Loans Classified By Payment Activity
LoansClassifiedByPaymentActivity
9799641000
CY2011Q4 vly Troubled Debt Restructurings Not Reported As Non Accrual Loans
TroubledDebtRestructuringsNotReportedAsNonAccrualLoans
101000000
CY2011Q4 vly Financing Receivable Recorded Investment Current Non Pci Loans
FinancingReceivableRecordedInvestmentCurrentNonPCILoans
9361932000
CY2011Q4 vly Financing Receivable Recorded Investment Non Pci Loans Total
FinancingReceivableRecordedInvestmentNonPCILoansTotal
9527797000
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
30188000
us-gaap Interest And Dividend Income Securities Trading Or Measured At Fair Value
InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue
1100000
us-gaap Defined Benefit Plan Amortization Of Net Gains Losses
DefinedBenefitPlanAmortizationOfNetGainsLosses
685000
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
6631000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
206000000
us-gaap Impairment Of Investments
ImpairmentOfInvestments
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-25298000
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
157894000
us-gaap Cash Flow Hedge Loss Reclassified To Interest Expense
CashFlowHedgeLossReclassifiedToInterestExpense
1188000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-27320000
us-gaap Income Taxes Paid
IncomeTaxesPaid
28741000
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-583000
us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion
16518000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
178245603000 shares
us-gaap Defined Benefit Plan Amortization Of Net Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfNetPriorServiceCostCredit
-320000
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
272825000
us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
268707000
us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
203000
us-gaap Defined Benefit Plan Amounts Recognized In Other Comprehensive Income Loss Net Gain Loss Before Tax
DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossNetGainLossBeforeTax
2845000
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
29721000
us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
9761000
us-gaap Other Noninterest Expense
OtherNoninterestExpense
24655000
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
65891000
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
335613000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
115787000
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
305000
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-23533000
us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions No Previous Impairment
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsAdditionsNoPreviousImpairment
us-gaap Interest Paid
InterestPaid
100522000
us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
2741000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
3850000
us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Period Increase Decrease
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsPeriodIncreaseDecrease
953000
us-gaap Share Based Compensation
ShareBasedCompensation
1276000
us-gaap Fees And Commissions Fiduciary And Trust Activities
FeesAndCommissionsFiduciaryAndTrustActivities
3975000
us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
8080000
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-685000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax
690000
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-21258000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
160377000
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
339196000
us-gaap Trading Gains Losses
TradingGainsLosses
2334000
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
2722000
us-gaap Payments For Origination And Purchases Of Loans Held For Sale
PaymentsForOriginationAndPurchasesOfLoansHeldForSale
137338000
us-gaap Interest Expense Time Deposits
InterestExpenseTimeDeposits
24782000
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
390861000
us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
5170000
us-gaap Servicing Fees Net
ServicingFeesNet
2367000
us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
3586000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-4569000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.41
us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
4934000
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
617000
us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
9403000
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
8077000
us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
241027000
us-gaap Net Income Loss
NetIncomeLoss
73479000
us-gaap Noninterest Income
NoninterestIncome
78322000
us-gaap Dividend Income Operating
DividendIncomeOperating
3647000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.41
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.33
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-2270000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Writedown Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentForWritedownOfSecuritiesIncludedInNetIncomeNetOfTax
360000
us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
1169000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
178254714000 shares
us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Reclassifications From Nonaccretable Difference
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldReclassificationsFromNonaccretableDifference
16983000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
61639000
us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
173081000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
9111000 shares
us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
19171000
us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
11292000
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
3126000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
68910000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
102250000
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
6679000
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
204374000
us-gaap Advertising Expense
AdvertisingExpense
4185000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
234562000
us-gaap Defined Benefit Plan Amounts That Will Be Amortized From Accumulated Other Comprehensive Income Loss In Next Fiscal Year
DefinedBenefitPlanAmountsThatWillBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossInNextFiscalYear
-1005000
us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
825000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
42308000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
7886000
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
342833000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7513000
us-gaap Noninterest Expense
NoninterestExpense
166909000
us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Cash Flows
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsCashFlows
249000
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
3330000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3758000
us-gaap Occupancy Net
OccupancyNet
32653000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
58151000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
366123000
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
320000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7200000 shares
us-gaap Labor And Related Expense
LaborAndRelatedExpense
88234000
us-gaap Interest Expense
InterestExpense
101051000
us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions Additional Credit Losses
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsAdditionsAdditionalCreditLosses
825000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-3835000
us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
-9793000
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesBeforeTaxPortionAttributableToParent
-5099000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4215000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3946000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
126058000
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-2960000
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
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-11721000
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
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us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
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us-gaap Interest Income Securities Taxable
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vly Accretion Amortization Of Discounts And Premiums Investments And Borrowings
AccretionAmortizationOfDiscountsAndPremiumsInvestmentsAndBorrowings
5102000
vly Allowance For Loan And Lease Losses Net Charge Off
AllowanceForLoanAndLeaseLossesNetChargeOff
15799000
vly Amount Recognized In Non Interest Income Related To Discount Accretion And Post Acquisition Adjustments To Fdic Loss Share Receivable
AmountRecognizedInNonInterestIncomeRelatedToDiscountAccretionAndPostAcquisitionAdjustmentsToFdicLossShareReceivable
7100000
vly Change In Fdic Loss Share Receivable
ChangeInFdicLossShareReceivable
13566000
vly Covered Loans Charge Offs
CoveredLoansChargeOffs
5700000
vly Fdic Receivable Accretion
FdicReceivableAccretion
291000
vly Fdic Receivable Effect Of Reimbursements From Fdic
FDICReceivableEffectOfReimbursementsFromFDIC
22746000
vly Gains Losses On Maturities And Other Securities Transactions
GainsLossesOnMaturitiesAndOtherSecuritiesTransactions
203000
vly Gross Gains Realized On Maturities And Other Securities Transactions
GrossGainsRealizedOnMaturitiesAndOtherSecuritiesTransactions
208000
vly Gross Gains Realized On Sales
GrossGainsRealizedOnSales
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vly Gross Losses Realized On Maturities And Other Securities Transactions
GrossLossesRealizedOnMaturitiesAndOtherSecuritiesTransactions
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vly Increase Due To Impairment On Covered Loans
IncreaseDueToImpairmentOnCoveredLoans
16932000
vly Interest On Federal Funds Sold And Other Short Term Investments
InterestOnFederalFundsSoldAndOtherShortTermInvestments
143000
vly Net Change In Fair Value Of Borrowings Carried At Fair Value
NetChangeInFairValueOfBorrowingsCarriedAtFairValue
-1947000
vly Other Comprehensive Income Loss Non Credit Impairment Losses On Securities Net Of Tax
OtherComprehensiveIncomeLossNonCreditImpairmentLossesOnSecuritiesNetOfTax
593000
vly Other Reimbursable Expenses From Fdic
OtherReimbursableExpensesFromFdic
1621000
vly Portion Recognized In Other Comprehensive Income Before Taxes
PortionRecognizedInOtherComprehensiveIncomeBeforeTaxes
825000
vly Provision For Covered Loan Losses
ProvisionForCoveredLoanLosses
18094000
vly Provision For Non Covered Loans
ProvisionForNonCoveredLoans
11627000
vly Provision For Unfunded Letters Of Credit
ProvisionForUnfundedLettersOfCredit
467000
vly Professional And Legal Fees
ProfessionalAndLegalFees
6793000
vly Prospective Adjustment For Additional Cash Flows
ProspectiveAdjustmentForAdditionalCashFlows
5278000
vly Reimbursements From Fdic
ReimbursementsFromFdic
22746000
vly Specific Reserves For Loan Losses
SpecificReservesForLoanLosses
1900000
vly Troubled Debt Restructuring Modifications Number Of Contracts
TroubledDebtRestructuringModificationsNumberOfContracts
20 pure
vly Troubled Debt Restructuring Modifications Post Modification Recorded Investment
TroubledDebtRestructuringModificationsPostModificationRecordedInvestment
17674000
vly Troubled Debt Restructuring Modifications Pre Modification Recorded Investment
TroubledDebtRestructuringModificationsPreModificationRecordedInvestment
17822000
vly Financing Receivable Allowance And Provisions For Credit Losses
FinancingReceivableAllowanceAndProvisionsForCreditLosses
29721000
vly Defined Benefit Plan Amortization Of Net Prior Service Cost Credit Net Of Tax
DefinedBenefitPlanAmortizationOfNetPriorServiceCostCreditNetOfTax
-185000
vly Finite Lived Intangible Asset Net
FiniteLivedIntangibleAssetNet
3800000
vly Intangible Assets Impairment Loss Or Recovery Mortgage Servicing Rights
IntangibleAssetsImpairmentLossOrRecoveryMortgageServicingRights
101000
vly Defined Benefit Plan Amortization Of Net Loss
DefinedBenefitPlanAmortizationOfNetLoss
398
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2012-06-30
dei Entity Central Index Key
EntityCentralIndexKey
0000714310
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Trading Symbol
TradingSymbol
VLY
dei Entity Registrant Name
EntityRegistrantName
VALLEY NATIONAL BANCORP
dei Amendment Flag
AmendmentFlag
false
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
invest Investment Maturity Date1
InvestmentMaturityDate1
2034-01-23
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
13102000
us-gaap Interest And Dividend Income Securities Trading Or Measured At Fair Value
InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue
884000
us-gaap Defined Benefit Plan Amortization Of Net Gains Losses
DefinedBenefitPlanAmortizationOfNetGainsLosses
1163000
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
6827000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1000000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
-117587000
us-gaap Impairment Of Investments
ImpairmentOfInvestments
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-95567000
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
190006000
us-gaap Stock Issued1
StockIssued1
208418000
us-gaap Cash Flow Hedge Loss Reclassified To Interest Expense
CashFlowHedgeLossReclassifiedToInterestExpense
2790000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-119521000
us-gaap Income Taxes Paid
IncomeTaxesPaid
35061000
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-881000
us-gaap Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
117255000
us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion
43569000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
197088528000 shares
us-gaap Defined Benefit Plan Amortization Of Net Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfNetPriorServiceCostCredit
-354000
us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
550000
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
135332000
us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
292272000
us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
288000
us-gaap Defined Benefit Plan Amounts Recognized In Other Comprehensive Income Loss Net Gain Loss Before Tax
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2658000
us-gaap Provision For Loan And Lease Losses
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us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2032-11-07
us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
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us-gaap Maturities Of Subordinated Debt
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us-gaap Other Noninterest Expense
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us-gaap Interest Expense Long Term Debt
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us-gaap Interest And Dividend Income Operating
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340994000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
96995000
us-gaap Increase Decrease In Accrued Interest Receivable Net
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us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
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us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions No Previous Impairment
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us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Additions
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAdditions
186262000
us-gaap Interest Paid
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us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
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2206000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
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4175000
us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Period Increase Decrease
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11731000
us-gaap Share Based Compensation
ShareBasedCompensation
2701000
us-gaap Fees And Commissions Fiduciary And Trust Activities
FeesAndCommissionsFiduciaryAndTrustActivities
3758000
us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
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8050000
us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
8719000
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
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1619000
us-gaap Proceeds From Repayments Of Short Term Debt
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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72671000
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
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329201000
us-gaap Trading Gains Losses
TradingGainsLosses
621000
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
4178000
us-gaap Payments For Origination And Purchases Of Loans Held For Sale
PaymentsForOriginationAndPurchasesOfLoansHeldForSale
196622000
us-gaap Interest Expense Time Deposits
InterestExpenseTimeDeposits
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us-gaap Proceeds From Sale Of Available For Sale Securities
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us-gaap Gain Loss On Sales Of Loans Net
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6307000
us-gaap Servicing Fees Net
ServicingFeesNet
2308000
us-gaap Bank Owned Life Insurance Income
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3591000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Earnings Per Share Basic
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us-gaap Interest Income Securities Tax Exempt
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us-gaap Depreciation Amortization And Accretion Net
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us-gaap Payments For Proceeds From Loans And Leases
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us-gaap Net Income Loss
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us-gaap Goodwill Acquired During Period
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us-gaap Noninterest Income
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us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Writedown Of Securities Included In Net Income Net Of Tax
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us-gaap Proceeds From Life Insurance Policies
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us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
31034000
us-gaap Proceeds From Sale Of Loans Held For Sale
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
17110000 shares
us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
1047000
us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
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us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
85925000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
133496000
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
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6378000
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
236428000
us-gaap Advertising Expense
AdvertisingExpense
3529000
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
25000000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
249530000
us-gaap Defined Benefit Plan Amounts That Will Be Amortized From Accumulated Other Comprehensive Income Loss In Next Fiscal Year
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550000
us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
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IncomeTaxExpenseBenefit
29644000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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7117000
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us-gaap Payments For Merger Related Costs
PaymentsForMergerRelatedCosts
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Noninterest Expense
NoninterestExpense
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us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Cash Flows
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsCashFlows
369000
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
4466000
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
9457000
us-gaap Servicing Asset At Amortized Value Valuation Allowance
ServicingAssetAtAmortizedValueValuationAllowance
2651000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4490000
us-gaap Occupancy Net
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34265000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
61730000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
49012000
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
354000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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7700000 shares
us-gaap Labor And Related Expense
LaborAndRelatedExpense
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2012-01-01
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us-gaap Interest Expense
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550000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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6513000
us-gaap Derivative Instruments Gain Loss Recognized In Income Net
DerivativeInstrumentsGainLossRecognizedInIncomeNet
217000
us-gaap Increase Decrease In Trading Securities
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101000
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us-gaap Proceeds From Issuance Of Common Stock
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4139000
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51312000
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us-gaap Defined Benefit Plan Interest Cost
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10420000
vly Allowance For Loan And Lease Losses Net Charge Off
AllowanceForLoanAndLeaseLossesNetChargeOff
16751000
vly Amount Recognized In Non Interest Income Related To Discount Accretion And Post Acquisition Adjustments To Fdic Loss Share Receivable
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vly Change In Fdic Loss Share Receivable
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vly Covered Loans Charge Offs
CoveredLoansChargeOffs
1800000
vly Exchange Ratio Rate
ExchangeRatioRate
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vly Fair Value Of Plan Assets Increased Percentage
FairValueOfPlanAssetsIncreasedPercentage
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vly Fdic Receivable Accretion
FdicReceivableAccretion
162000
vly Fdic Receivable Effect Of Reimbursements From Fdic
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7537000
vly Gains Losses On Maturities And Other Securities Transactions
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vly Gross Losses Realized On Sales
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vly Gross Gains Realized On Maturities And Other Securities Transactions
GrossGainsRealizedOnMaturitiesAndOtherSecuritiesTransactions
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1374000
vly Gross Losses Realized On Maturities And Other Securities Transactions
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48000
vly Impaired Collateral Dependent Loans Charge Offs
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11600000
vly Interest On Federal Funds Sold And Other Short Term Investments
InterestOnFederalFundsSoldAndOtherShortTermInvestments
86000
vly Loans Non Cash Cf
LoansNonCashCf
1098948000
vly Net Change In Fair Value Of Borrowings Carried At Fair Value
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vly Noncash Or Part Noncash Acquisition Accrued Interest Receivable Assumed
NoncashOrPartNoncashAcquisitionAccruedInterestReceivableAssumed
5294000
vly Noncash Or Part Noncash Acquisition Total Deposits Assumed
NoncashOrPartNoncashAcquisitionTotalDepositsAssumed
1380293000
vly Noncash Or Part Noncash Acquisition Short Term Borrowing Assumed
NoncashOrPartNoncashAcquisitionShortTermBorrowingAssumed
29000000
vly Number Of Common Stock Issued Upon Exercise Of Warrant
NumberOfCommonStockIssuedUponExerciseOfWarrant
489000 shares
vly Number Of Years Purchase Warrant Can Be Used
NumberOfYearsPurchaseWarrantCanBeUsed
10 pure
vly Other Comprehensive Income Loss Non Credit Impairment Losses On Securities Net Of Tax
OtherComprehensiveIncomeLossNonCreditImpairmentLossesOnSecuritiesNetOfTax
11617000
vly Other Reimbursable Expenses From Fdic
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2554000
vly Other Than Temporarily Impaired Mortgage Backed Securities Amortized Cost
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45100000
vly Other Than Temporarily Impaired Trust Preferred Securities Amortized Cost
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46400000
vly Other Than Temporary Impairment Non Credit Losses Recognized In Earnings Additions Additional Credit Losses Before Taxes
OtherThanTemporaryImpairmentNonCreditLossesRecognizedInEarningsAdditionsAdditionalCreditLossesBeforeTaxes
3800000
vly Portion Recognized In Other Comprehensive Income Before Taxes
PortionRecognizedInOtherComprehensiveIncomeBeforeTaxes
550000
vly Provision For Non Covered Loans
ProvisionForNonCoveredLoans
12803000
vly Provision For Unfunded Letters Of Credit
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299000
vly Professional And Legal Fees
ProfessionalAndLegalFees
6969000
vly Prospective Adjustment For Additional Cash Flows
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3868000
vly Reimbursements From Fdic
ReimbursementsFromFdic
7537000
vly Specific Reserves For Loan Losses
SpecificReservesForLoanLosses
9500000
vly Troubled Debt Restructuring Modifications Number Of Contracts
TroubledDebtRestructuringModificationsNumberOfContracts
46 pure
vly Troubled Debt Restructuring Modifications Post Modification Recorded Investment
TroubledDebtRestructuringModificationsPostModificationRecordedInvestment
62139000
vly Troubled Debt Restructuring Modifications Pre Modification Recorded Investment
TroubledDebtRestructuringModificationsPreModificationRecordedInvestment
65984000
vly Financing Receivable Allowance And Provisions For Credit Losses
FinancingReceivableAllowanceAndProvisionsForCreditLosses
12803000
vly Other Adjustments To Fdic Loss Share Receivable
OtherAdjustmentsToFdicLossShareReceivable
-5960000
vly Other Noninterest Income
OtherNoninterestIncome
7400000
vly Allowance For Covered Loan Losses Net Charge Offs
AllowanceForCoveredLoanLossesNetChargeOffs
4100000
vly Defined Benefit Plan Amortization Of Net Prior Service Cost Credit Net Of Tax
DefinedBenefitPlanAmortizationOfNetPriorServiceCostCreditNetOfTax
-206000
vly Finite Lived Intangible Asset Net
FiniteLivedIntangibleAssetNet
4500000
vly Intangible Assets Impairment Loss Or Recovery Mortgage Servicing Rights
IntangibleAssetsImpairmentLossOrRecoveryMortgageServicingRights
19000
vly Defined Benefit Plan Amortization Of Net Loss
DefinedBenefitPlanAmortizationOfNetLoss
675
CY2012Q1 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
25000000
CY2011 us-gaap Stock Issued1
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208418000
CY2011 us-gaap Servicing Asset At Amortized Value Valuation Allowance
ServicingAssetAtAmortizedValueValuationAllowance
2670000
CY2011 vly Other Than Temporarily Impaired Trust Preferred Securities Amortized Cost
OtherThanTemporarilyImpairedTrustPreferredSecuritiesAmortizedCost
22900000
CY2011Q2 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
6026000
CY2011Q2 us-gaap Interest And Dividend Income Securities Trading Or Measured At Fair Value
InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue
500000
CY2011Q2 us-gaap Defined Benefit Plan Amortization Of Net Gains Losses
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4547000
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-24000
CY2012Q2 vly Professional And Legal Fees
ProfessionalAndLegalFees
3345000
CY2012Q2 vly Prospective Adjustment For Additional Cash Flows
ProspectiveAdjustmentForAdditionalCashFlows
2231000
CY2012Q2 vly Troubled Debt Restructuring Modifications Number Of Contracts
TroubledDebtRestructuringModificationsNumberOfContracts
27 pure
CY2012Q2 vly Troubled Debt Restructuring Modifications Post Modification Recorded Investment
TroubledDebtRestructuringModificationsPostModificationRecordedInvestment
57283000
CY2012Q2 vly Troubled Debt Restructuring Modifications Pre Modification Recorded Investment
TroubledDebtRestructuringModificationsPreModificationRecordedInvestment
59438000
CY2012Q2 vly Financing Receivable Allowance And Provisions For Credit Losses
FinancingReceivableAllowanceAndProvisionsForCreditLosses
7429000
CY2012Q2 vly Other Adjustments To Fdic Loss Share Receivable
OtherAdjustmentsToFdicLossShareReceivable
-5960000
CY2012Q2 vly Other Noninterest Income
OtherNoninterestIncome
7400000
CY2012Q2 vly Allowance For Covered Loan Losses Net Charge Offs
AllowanceForCoveredLoanLossesNetChargeOffs
1200000
CY2012Q2 vly Defined Benefit Plan Amortization Of Net Prior Service Cost Credit Net Of Tax
DefinedBenefitPlanAmortizationOfNetPriorServiceCostCreditNetOfTax
-103000
CY2012Q2 vly Finite Lived Intangible Asset Net
FiniteLivedIntangibleAssetNet
2500000
CY2012Q2 vly Intangible Assets Impairment Loss Or Recovery Mortgage Servicing Rights
IntangibleAssetsImpairmentLossOrRecoveryMortgageServicingRights
401000
CY2012Q2 vly Defined Benefit Plan Amortization Of Net Loss
DefinedBenefitPlanAmortizationOfNetLoss
337

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