2012 Q3 Form 10-Q Financial Statement

#000119312512463332 Filed on November 09, 2012

View on sec.gov

Income Statement

Concept 2012 Q3 2011 Q3
Revenue $167.2M $171.6M
YoY Change -2.57%
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 $7.200M $7.300M
YoY Change -1.37% 14.06%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $45.41M $49.70M
YoY Change -8.64%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $61.85M $48.56M
YoY Change 27.36% 3.76%
Income Tax $22.40M $13.49M
% Of Pretax Income 36.22% 27.78%
Net Earnings $39.45M $35.07M
YoY Change 12.47% 7.58%
Net Earnings / Revenue 23.59% 20.43%
Basic Earnings Per Share $0.20 $0.20
Diluted Earnings Per Share $0.20 $0.20
COMMON SHARES
Basic Shares Outstanding 197.4M shares 178.5M shares
Diluted Shares Outstanding 197.4M shares 178.5M shares

Balance Sheet

Concept 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.926B
YoY Change
Cash & Equivalents $605.3M $395.2M
Short-Term Investments $2.321B
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $276.1M $265.0M
YoY Change 4.18% -0.38%
Goodwill $420.4M $318.0M
YoY Change 32.23%
Intangibles $28.87M
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 $15.77B $14.23B
YoY Change 10.82% 1.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $155.0M $163.0M
YoY Change -4.91% 21.64%
Deferred Revenue
YoY Change
Short-Term Debt $288.9M $223.0M
YoY Change 29.54% -32.63%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $155.0M $163.0M
YoY Change -4.91% 21.64%
LONG-TERM LIABILITIES
Long-Term Debt $2.889B $2.912B
YoY Change -0.79% -5.15%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $2.889B $2.912B
YoY Change -0.79% -5.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $155.0M $163.0M
Total Long-Term Liabilities $2.889B $2.912B
Total Liabilities $14.26B $12.92B
YoY Change 10.32% 0.89%
SHAREHOLDERS EQUITY
Retained Earnings $100.3M $96.10M
YoY Change 4.32%
Common Stock $1.457B $1.238B
YoY Change 17.75%
Preferred Stock
YoY Change
Treasury Stock (at cost) $164.0K $2.817M
YoY Change -94.18%
Treasury Stock Shares 16.42K shares
Shareholders Equity $1.513B $1.307B
YoY Change
Total Liabilities & Shareholders Equity $15.77B $14.23B
YoY Change 10.82% 1.02%

Cashflow Statement

Concept 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $39.45M $35.07M
YoY Change 12.47% 7.58%
Depreciation, Depletion And Amortization $7.200M $7.300M
YoY Change -1.37% 14.06%
Cash From Operating Activities $73.30M $54.00M
YoY Change 35.74% -435.4%
INVESTING ACTIVITIES
Capital Expenditures -$6.800M -$4.400M
YoY Change 54.55% -22.81%
Acquisitions
YoY Change
Other Investing Activities $328.2M -$119.3M
YoY Change -375.1% 452.31%
Cash From Investing Activities $321.4M -$123.7M
YoY Change -359.82% 354.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -241.2M -61.70M
YoY Change 290.92% 47.61%
NET CHANGE
Cash From Operating Activities 73.30M 54.00M
Cash From Investing Activities 321.4M -123.7M
Cash From Financing Activities -241.2M -61.70M
Net Change In Cash 153.5M -131.4M
YoY Change -216.82% 54.41%
FREE CASH FLOW
Cash From Operating Activities $73.30M $54.00M
Capital Expenditures -$6.800M -$4.400M
Free Cash Flow $80.10M $58.40M
YoY Change 37.16% -661.54%

Facts In Submission

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CY2012Q3 vly Weighted Average Remaining Expected Life Of Residential Mortgage Backed Securities Held To Maturity
WeightedAverageRemainingExpectedLifeOfResidentialMortgageBackedSecuritiesHeldToMaturity
3.3 Y
CY2012Q3 vly Financing Receivable Recorded Investment Current Non Pci Loans
FinancingReceivableRecordedInvestmentCurrentNonPCILoans
9703602000
CY2012Q3 vly Financing Receivable Recorded Investment Non Pci Loans Total
FinancingReceivableRecordedInvestmentNonPCILoansTotal
9874585000
CY2012Q3 vly Aggregate Notional Amount Of Mortgage Banking Derivatives
AggregateNotionalAmountOfMortgageBankingDerivatives
331200000
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 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
34776 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
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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 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 Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
20818000
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 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 Junior Subordinated Debentures Issued To Capital Trusts Fair Value
JuniorSubordinatedDebenturesIssuedToCapitalTrustsFairValue
160478000
CY2011Q4 vly Loans Classified By Payment Activity
LoansClassifiedByPaymentActivity
9799641000
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 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
invest Investment Maturity Date1
InvestmentMaturityDate1
2034-01-23
us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2032-11-07
us-gaap Business Acquisition Effective Date Of Acquisition1
BusinessAcquisitionEffectiveDateOfAcquisition1
2012-01-01
vly Exchange Ratio Rate
ExchangeRatioRate
1 pure
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
37971000
us-gaap Interest And Dividend Income Securities Trading Or Measured At Fair Value
InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue
1600000
us-gaap Defined Benefit Plan Amortization Of Net Gains Losses
DefinedBenefitPlanAmortizationOfNetGainsLosses
1030000
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
9624000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
206000000
us-gaap Impairment Of Investments
ImpairmentOfInvestments
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-12217000
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
161668000
us-gaap Cash Flow Hedge Loss Reclassified To Interest Expense
CashFlowHedgeLossReclassifiedToInterestExpense
1796000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-151036000
us-gaap Income Taxes Paid
IncomeTaxesPaid
28741000
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-876000
us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion
28640000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
178333952 shares
us-gaap Defined Benefit Plan Amortization Of Net Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfNetPriorServiceCostCredit
-480000
us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
825000
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
592138000
us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
409010000
us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
382000
us-gaap Defined Benefit Plan Amounts Recognized In Other Comprehensive Income Loss Net Gain Loss Before Tax
DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossNetGainLossBeforeTax
4172000
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
37432000
us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
14722000
us-gaap Other Noninterest Expense
OtherNoninterestExpense
36981000
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
97917000
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
507252000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
164840000
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
3390000
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-173000
us-gaap Interest Paid
InterestPaid
150640000
us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
4904000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
5682000
us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Period Increase Decrease
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsPeriodIncreaseDecrease
574000
us-gaap Share Based Compensation
ShareBasedCompensation
2535000
us-gaap Fees And Commissions Fiduciary And Trust Activities
FeesAndCommissionsFiduciaryAndTrustActivities
5744000
us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
11496000
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-1030000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax
1042000
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
30256000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
28942000
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
427307000
us-gaap Trading Gains Losses
TradingGainsLosses
3110000
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
3803000
us-gaap Payments For Origination And Purchases Of Loans Held For Sale
PaymentsForOriginationAndPurchasesOfLoansHeldForSale
241364000
us-gaap Interest Expense Time Deposits
InterestExpenseTimeDeposits
37206000
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
517244000
us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
8060000
us-gaap Servicing Fees Net
ServicingFeesNet
3356000
us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
5575000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-18083000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.61
us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
8043000
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
910000
us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
12696000
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
12067000
us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
261066000
us-gaap Net Income Loss
NetIncomeLoss
108836000
us-gaap Noninterest Income
NoninterestIncome
98525000
us-gaap Dividend Income Operating
DividendIncomeOperating
5212000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.61
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.49
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-11103000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Writedown Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentForWritedownOfSecuritiesIncludedInNetIncomeNetOfTax
293000
us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
5389000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
178338310 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
-144000
us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
274032000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4358 shares
us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
20034000
us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
16908000
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
4609000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
90753000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
200588000
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
10345000
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
318526000
us-gaap Advertising Expense
AdvertisingExpense
6370000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
356497000
us-gaap Defined Benefit Plan Amounts That Will Be Amortized From Accumulated Other Comprehensive Income Loss In Next Fiscal Year
DefinedBenefitPlanAmountsThatWillBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossInNextFiscalYear
-1510000
us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
825000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
56004000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
3784000
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
256725000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11946000
us-gaap Noninterest Expense
NoninterestExpense
252211000
us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Cash Flows
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsCashFlows
358000
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
-5004000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
7109000
us-gaap Occupancy Net
OccupancyNet
48309000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
87450000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
463655000
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
480000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7100000 shares
us-gaap Labor And Related Expense
LaborAndRelatedExpense
133359000
us-gaap Interest Expense
InterestExpense
150755000
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
-8430000
us-gaap Increase Decrease In Trading Securities
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us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Before Tax Portion Attributable To Parent
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vly Interest On Federal Funds Sold And Other Short Term Investments
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vly Portion Recognized In Other Comprehensive Income Before Taxes
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vly Specific Reserves For Loan Losses
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vly Troubled Debt Restructuring Modifications Post Modification Recorded Investment
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34675000
vly Troubled Debt Restructuring Modifications Pre Modification Recorded Investment
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vly Other Noninterest Income
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vly Defined Benefit Plan Amortization Of Net Prior Service Cost Credit Net Of Tax
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vly Finite Lived Intangible Asset Net
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vly Defined Benefit Plan Amortization Of Net Loss
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vly Transfer Of Loans Held For Investment To Other Real Estate
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2012-09-30
dei Entity Central Index Key
EntityCentralIndexKey
0000714310
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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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
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us-gaap Defined Benefit Plan Amortization Of Net Gains Losses
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1745000
us-gaap Federal Deposit Insurance Corporation Premium Expense
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us-gaap Cash Flow Hedge Loss Reclassified To Interest Expense
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Income Taxes Paid
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us-gaap Payments To Acquire Loans Held For Investment
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8050000
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959000
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4500000
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99 pure
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3300000
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90167000
vly Financing Receivable Allowance And Provisions For Credit Losses
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20385000
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vly Allowance For Covered Loan Losses Net Charge Offs
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5200000
vly Defined Benefit Plan Amortization Of Net Prior Service Cost Credit Net Of Tax
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vly Finite Lived Intangible Asset Net
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7200000
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382000
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vly Transfers Of Loans To Held For Sale
TransfersOfLoansToHeldForSale
123093000
vly Transfer Of Loans Held For Investment To Other Real Estate
TransferOfLoansHeldForInvestmentToOtherRealEstate
11831000
vly Sales Of Loans Held For Sale
SalesOfLoansHeldForSale
0
vly Non Cash Or Part Non Cash Acquisition Loans
NonCashOrPartNonCashAcquisitionLoans
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us-gaap Servicing Asset At Amortized Value Valuation Allowance
ServicingAssetAtAmortizedValueValuationAllowance
2670000
CY2012Q1 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
25000000
CY2011 us-gaap Stock Issued1
StockIssued1
208418000
CY2011Q3 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
7783000
CY2011Q3 us-gaap Interest And Dividend Income Securities Trading Or Measured At Fair Value
InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue
500000
CY2011Q3 us-gaap Defined Benefit Plan Amortization Of Net Gains Losses
DefinedBenefitPlanAmortizationOfNetGainsLosses
345000
CY2011Q3 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
2993000
CY2011Q3 us-gaap Impairment Of Investments
ImpairmentOfInvestments
CY2011Q3 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
169204000
CY2011Q3 us-gaap Cash Flow Hedge Loss Reclassified To Interest Expense
CashFlowHedgeLossReclassifiedToInterestExpense
608000
CY2011Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-293000
CY2011Q3 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion
12122000
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
178507769 shares
CY2011Q3 us-gaap Defined Benefit Plan Amortization Of Net Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfNetPriorServiceCostCredit
-160000
CY2011Q3 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
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CY2011Q3 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
140303000
CY2011Q3 us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
179000
CY2011Q3 us-gaap Defined Benefit Plan Amounts Recognized In Other Comprehensive Income Loss Net Gain Loss Before Tax
DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossNetGainLossBeforeTax
1327000
CY2011Q3 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
7711000
CY2011Q3 us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
4961000
CY2011Q3 us-gaap Other Noninterest Expense
OtherNoninterestExpense
12326000
CY2011Q3 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
32026000
CY2011Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
171639000
CY2011Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
49053000
CY2011Q3 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
2165000
CY2011Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
1832000
CY2011Q3 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Period Increase Decrease
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-380000
CY2011Q3 us-gaap Fees And Commissions Fiduciary And Trust Activities
FeesAndCommissionsFiduciaryAndTrustActivities
1769000
CY2011Q3 us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
3416000
CY2011Q3 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-345000
CY2011Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax
353000
CY2011Q3 us-gaap Trading Gains Losses
TradingGainsLosses
776000
CY2011Q3 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
1081000
CY2011Q3 us-gaap Interest Expense Time Deposits
InterestExpenseTimeDeposits
12424000
CY2011Q3 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
2890000
CY2011Q3 us-gaap Servicing Fees Net
ServicingFeesNet
989000
CY2011Q3 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
1989000
CY2011Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-13514000
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2011Q3 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
3109000
CY2011Q3 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
293000
CY2011Q3 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
3293000
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
35357000
CY2011Q3 us-gaap Noninterest Income
NoninterestIncome
20203000
CY2011Q3 us-gaap Dividend Income Operating
DividendIncomeOperating
1565000
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
CY2011Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.16
CY2011Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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-8832000
CY2011Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Writedown Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentForWritedownOfSecuritiesIncludedInNetIncomeNetOfTax
-68000
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
178508382 shares
CY2011Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
613 shares
CY2011Q3 us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
863000
CY2011Q3 us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
5616000
CY2011Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1483000
CY2011Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
21843000
CY2011Q3 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
3666000
CY2011Q3 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
114152000
CY2011Q3 us-gaap Advertising Expense
AdvertisingExpense
2185000
CY2011Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
121935000
CY2011Q3 us-gaap Defined Benefit Plan Amounts That Will Be Amortized From Accumulated Other Comprehensive Income Loss In Next Fiscal Year
DefinedBenefitPlanAmountsThatWillBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossInNextFiscalYear
-505000
CY2011Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13696000
CY2011Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-4102000
CY2011Q3 us-gaap Noninterest Expense
NoninterestExpense
85302000
CY2011Q3 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Cash Flows
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsCashFlows
109000
CY2011Q3 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
-1674000
CY2011Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3351000
CY2011Q3 us-gaap Occupancy Net
OccupancyNet
15656000
CY2011Q3 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
160000
CY2011Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7300000 shares
CY2011Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
45125000
CY2011Q3 us-gaap Interest Expense
InterestExpense
49704000
CY2011Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-4595000
CY2011Q3 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesBeforeTaxPortionAttributableToParent
15829000
CY2011Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-9185000
CY2011Q3 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
12056000
CY2011Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax
-493000
CY2011Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1518000
CY2011Q3 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
450000
CY2011Q3 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
26552000
CY2011Q3 vly Allowance For Loan And Lease Losses Net Charge Off
AllowanceForLoanAndLeaseLossesNetChargeOff
10975000
CY2011Q3 vly Amount Recognized In Non Interest Income Related To Discount Accretion And Post Acquisition Adjustments To Fdic Loss Share Receivable
AmountRecognizedInNonInterestIncomeRelatedToDiscountAccretionAndPostAcquisitionAdjustmentsToFdicLossShareReceivable
1600000
CY2011Q3 vly Change In Fdic Loss Share Receivable
ChangeInFdicLossShareReceivable
-1577000
CY2011Q3 vly Covered Loans Charge Offs
CoveredLoansChargeOffs
6100000
CY2011Q3 vly Derivative Instruments Gain Loss Recognized In Expense Net
DerivativeInstrumentsGainLossRecognizedInExpenseNet
-453000
CY2011Q3 vly Fdic Receivable Accretion
FdicReceivableAccretion
146000
CY2011Q3 vly Gains Losses On Maturities And Other Securities Transactions
GainsLossesOnMaturitiesAndOtherSecuritiesTransactions
413000
CY2011Q3 vly Gross Gains Realized On Maturities And Other Securities Transactions
GrossGainsRealizedOnMaturitiesAndOtherSecuritiesTransactions
414000
CY2011Q3 vly Gross Gains Realized On Sales
GrossGainsRealizedOnSales
450000
CY2011Q3 vly Gross Losses Realized On Maturities And Other Securities Transactions
GrossLossesRealizedOnMaturitiesAndOtherSecuritiesTransactions
1000
CY2011Q3 vly Interest On Federal Funds Sold And Other Short Term Investments
InterestOnFederalFundsSoldAndOtherShortTermInvestments
110000
CY2011Q3 vly Other Comprehensive Income Loss Non Credit Impairment Losses On Securities Net Of Tax
OtherComprehensiveIncomeLossNonCreditImpairmentLossesOnSecuritiesNetOfTax
-312000
CY2011Q3 vly Other Reimbursable Expenses From Fdic
OtherReimbursableExpensesFromFdic
1166000
CY2011Q3 vly Provision For Non Covered Loans
ProvisionForNonCoveredLoans
7711000
CY2011Q3 vly Provision For Unfunded Letters Of Credit
ProvisionForUnfundedLettersOfCredit
72000
CY2011Q3 vly Professional And Legal Fees
ProfessionalAndLegalFees
3666000
CY2011Q3 vly Prospective Adjustment For Additional Cash Flows
ProspectiveAdjustmentForAdditionalCashFlows
2889000
CY2011Q3 vly Troubled Debt Restructuring Modifications Number Of Contracts
TroubledDebtRestructuringModificationsNumberOfContracts
6 pure
CY2011Q3 vly Troubled Debt Restructuring Modifications Post Modification Recorded Investment
TroubledDebtRestructuringModificationsPostModificationRecordedInvestment
17909000
CY2011Q3 vly Troubled Debt Restructuring Modifications Pre Modification Recorded Investment
TroubledDebtRestructuringModificationsPreModificationRecordedInvestment
17914000
CY2011Q3 vly Financing Receivable Allowance And Provisions For Credit Losses
FinancingReceivableAllowanceAndProvisionsForCreditLosses
7711000
CY2011Q3 vly Defined Benefit Plan Amortization Of Net Prior Service Cost Credit Net Of Tax
DefinedBenefitPlanAmortizationOfNetPriorServiceCostCreditNetOfTax
-93000
CY2011Q3 vly Finite Lived Intangible Asset Net
FiniteLivedIntangibleAssetNet
3400000
CY2011Q3 vly Intangible Assets Impairment Loss Or Recovery Mortgage Servicing Rights
IntangibleAssetsImpairmentLossOrRecoveryMortgageServicingRights
1600000
CY2011Q3 vly Defined Benefit Plan Amortization Of Net Loss
DefinedBenefitPlanAmortizationOfNetLoss
-200000
CY2011Q3 vly Sales Of Loans Held For Sale
SalesOfLoansHeldForSale
0
CY2012Q3 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
7250000
CY2012Q3 us-gaap Interest And Dividend Income Securities Trading Or Measured At Fair Value
InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue
442000
CY2012Q3 us-gaap Defined Benefit Plan Amortization Of Net Gains Losses
DefinedBenefitPlanAmortizationOfNetGainsLosses
582000
CY2012Q3 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
3915000
CY2012Q3 us-gaap Impairment Of Investments
ImpairmentOfInvestments
CY2012Q3 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
201898000
CY2012Q3 us-gaap Cash Flow Hedge Loss Reclassified To Interest Expense
CashFlowHedgeLossReclassifiedToInterestExpense
1788000
CY2012Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-440000
CY2012Q3 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion
21284000
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
197437988 shares
CY2012Q3 us-gaap Defined Benefit Plan Amortization Of Net Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfNetPriorServiceCostCredit
-177000
CY2012Q3 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
4697000
CY2012Q3 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
146011000
CY2012Q3 us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
195000
CY2012Q3 us-gaap Defined Benefit Plan Amounts Recognized In Other Comprehensive Income Loss Net Gain Loss Before Tax
DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossNetGainLossBeforeTax
1329000
CY2012Q3 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
7582000
CY2012Q3 us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
5051000
CY2012Q3 us-gaap Other Noninterest Expense
OtherNoninterestExpense
14681000
CY2012Q3 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
30575000
CY2012Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
167230000
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
61849000
CY2012Q3 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
1664000
CY2012Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
2088000
CY2012Q3 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Period Increase Decrease
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsPeriodIncreaseDecrease
254000
CY2012Q3 us-gaap Fees And Commissions Fiduciary And Trust Activities
FeesAndCommissionsFiduciaryAndTrustActivities
1947000
CY2012Q3 us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
3228000
CY2012Q3 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-582000
CY2012Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax
1038000
CY2012Q3 us-gaap Trading Gains Losses
TradingGainsLosses
6000
CY2012Q3 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
1177000
CY2012Q3 us-gaap Interest Expense Time Deposits
InterestExpenseTimeDeposits
9226000
CY2012Q3 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
25055000
CY2012Q3 us-gaap Servicing Fees Net
ServicingFeesNet
1173000
CY2012Q3 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
1674000
CY2012Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-196000
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2012Q3 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
3424000
CY2012Q3 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
556000
CY2012Q3 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
4296000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
39447000
CY2012Q3 us-gaap Noninterest Income
NoninterestIncome
40496000
CY2012Q3 us-gaap Dividend Income Operating
DividendIncomeOperating
1866000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
CY2012Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.16
CY2012Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-181000
CY2012Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Writedown Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentForWritedownOfSecuritiesIncludedInNetIncomeNetOfTax
2415000
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
197437988 shares
CY2012Q3 us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
1496000
CY2012Q3 us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
6513000
CY2012Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1964000
CY2012Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
39251000
CY2012Q3 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
20364000
CY2012Q3 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
114572000
CY2012Q3 us-gaap Advertising Expense
AdvertisingExpense
1723000
CY2012Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
121822000
CY2012Q3 us-gaap Defined Benefit Plan Amounts That Will Be Amortized From Accumulated Other Comprehensive Income Loss In Next Fiscal Year
DefinedBenefitPlanAmountsThatWillBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossInNextFiscalYear
-759000
CY2012Q3 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
4697000
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
22402000
CY2012Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
202000
CY2012Q3 us-gaap Payments For Merger Related Costs
PaymentsForMergerRelatedCosts
40000
CY2012Q3 us-gaap Noninterest Expense
NoninterestExpense
93219000
CY2012Q3 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Cash Flows
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsCashFlows
590000
CY2012Q3 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
-2234000
CY2012Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2696000
CY2012Q3 us-gaap Occupancy Net
OccupancyNet
17466000
CY2012Q3 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
177000
CY2012Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7600000 shares
CY2012Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
49267000
CY2012Q3 us-gaap Interest Expense
InterestExpense
45408000
CY2012Q3 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions Additional Credit Losses
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsAdditionsAdditionalCreditLosses
4697000
CY2012Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-709000
CY2012Q3 us-gaap Derivative Instruments Gain Loss Recognized In Income Net
DerivativeInstrumentsGainLossRecognizedInIncomeNet
682000
CY2012Q3 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesBeforeTaxPortionAttributableToParent
2101000
CY2012Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-1219000
CY2012Q3 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
9366000
CY2012Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax
-911000
CY2012Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1599000
CY2012Q3 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
4513000
CY2012Q3 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
15733000
CY2012Q3 vly Allowance For Loan And Lease Losses Net Charge Off
AllowanceForLoanAndLeaseLossesNetChargeOff
8189000
CY2012Q3 vly Amount Recognized In Non Interest Income Related To Discount Accretion And Post Acquisition Adjustments To Fdic Loss Share Receivable
AmountRecognizedInNonInterestIncomeRelatedToDiscountAccretionAndPostAcquisitionAdjustmentsToFdicLossShareReceivable
390000
CY2012Q3 vly Change In Fdic Loss Share Receivable
ChangeInFdicLossShareReceivable
-390000
CY2012Q3 vly Covered Loans Charge Offs
CoveredLoansChargeOffs
2300000
CY2012Q3 vly Derivative Instruments Gain Loss Recognized In Expense Net
DerivativeInstrumentsGainLossRecognizedInExpenseNet
39000
CY2012Q3 vly Fair Value Unobservable Inputs Quantitative Information For Assets Measured On Nonrecurring Basis Impaired Loans Non Current Appraisal Discount Percentage
FairValueUnobservableInputsQuantitativeInformationForAssetsMeasuredOnNonrecurringBasisImpairedLoansNonCurrentAppraisalDiscountPercentage
0.061 pure
CY2012Q3 vly Fdic Receivable Accretion
FdicReceivableAccretion
82000
CY2012Q3 vly Fdic Receivable Effect Of Reimbursements From Fdic
FDICReceivableEffectOfReimbursementsFromFDIC
7413000
CY2012Q3 vly Gains Losses On Maturities And Other Securities Transactions
GainsLossesOnMaturitiesAndOtherSecuritiesTransactions
-3017000
CY2012Q3 vly Gross Gains Realized On Maturities And Other Securities Transactions
GrossGainsRealizedOnMaturitiesAndOtherSecuritiesTransactions
2242000
CY2012Q3 vly Gross Gains Realized On Sales
GrossGainsRealizedOnSales
4513000
CY2012Q3 vly Gross Losses Realized On Maturities And Other Securities Transactions
GrossLossesRealizedOnMaturitiesAndOtherSecuritiesTransactions
5259000
CY2012Q3 vly Impaired Collateral Dependent Loans Charge Offs
ImpairedCollateralDependentLoansChargeOffs
4700000
CY2012Q3 vly Interest On Federal Funds Sold And Other Short Term Investments
InterestOnFederalFundsSoldAndOtherShortTermInvestments
196000
CY2012Q3 vly Loss Due To Remeasurement Of Repossessed Asset At Fair Value
LossDueToRemeasurementOfRepossessedAssetAtFairValue
270000
CY2012Q3 vly Other Comprehensive Income Loss Non Credit Impairment Losses On Securities Net Of Tax
OtherComprehensiveIncomeLossNonCreditImpairmentLossesOnSecuritiesNetOfTax
-2161000
CY2012Q3 vly Other Reimbursable Expenses From Fdic
OtherReimbursableExpensesFromFdic
1619000
CY2012Q3 vly Portion Recognized In Other Comprehensive Income Before Taxes
PortionRecognizedInOtherComprehensiveIncomeBeforeTaxes
4697000
CY2012Q3 vly Provision For Non Covered Loans
ProvisionForNonCoveredLoans
7582000
CY2012Q3 vly Provision For Unfunded Letters Of Credit
ProvisionForUnfundedLettersOfCredit
-332000
CY2012Q3 vly Professional And Legal Fees
ProfessionalAndLegalFees
3471000
CY2012Q3 vly Prospective Adjustment For Additional Cash Flows
ProspectiveAdjustmentForAdditionalCashFlows
2091000
CY2012Q3 vly Troubled Debt Restructuring Modifications Number Of Contracts
TroubledDebtRestructuringModificationsNumberOfContracts
53 pure
CY2012Q3 vly Troubled Debt Restructuring Modifications Post Modification Recorded Investment
TroubledDebtRestructuringModificationsPostModificationRecordedInvestment
23868000
CY2012Q3 vly Troubled Debt Restructuring Modifications Pre Modification Recorded Investment
TroubledDebtRestructuringModificationsPreModificationRecordedInvestment
24183000
CY2012Q3 vly Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions Initial Credit Impairment
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsAdditionsInitialCreditImpairment
4500000
CY2012Q3 vly Financing Receivable Allowance And Provisions For Credit Losses
FinancingReceivableAllowanceAndProvisionsForCreditLosses
7582000
CY2012Q3 vly Other Noninterest Income
OtherNoninterestIncome
7400000
CY2012Q3 vly Allowance For Covered Loan Losses Net Charge Offs
AllowanceForCoveredLoanLossesNetChargeOffs
1100000
CY2012Q3 vly Defined Benefit Plan Amortization Of Net Prior Service Cost Credit Net Of Tax
DefinedBenefitPlanAmortizationOfNetPriorServiceCostCreditNetOfTax
-102000
CY2012Q3 vly Loss On Redemption Of Preferred Stock
LossOnRedemptionOfPreferredStock
5300000
CY2012Q3 vly Finite Lived Intangible Asset Net
FiniteLivedIntangibleAssetNet
2700000
CY2012Q3 vly Intangible Assets Impairment Loss Or Recovery Mortgage Servicing Rights
IntangibleAssetsImpairmentLossOrRecoveryMortgageServicingRights
402000
CY2012Q3 vly Defined Benefit Plan Amortization Of Net Loss
DefinedBenefitPlanAmortizationOfNetLoss
-338000
CY2012Q3 vly Transfer Of Loans
TransferOfLoans
123100000
CY2012Q3 vly Sales Of Loans Held For Sale
SalesOfLoansHeldForSale
0

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