2013 Q2 Form 10-Q Financial Statement

#000119312513326627 Filed on August 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $152.4M $166.9M
YoY Change -8.68% -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 $6.900M $7.000M
YoY Change -1.43% 18.64%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $42.48M $44.79M
YoY Change -5.14% -10.65%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $44.88M $47.19M
YoY Change -4.88% -23.41%
Income Tax $10.96M $14.37M
% Of Pretax Income 24.42% 30.45%
Net Earnings $33.92M $32.82M
YoY Change 3.36% -10.35%
Net Earnings / Revenue 22.26% 19.67%
Basic Earnings Per Share $0.17 $0.17
Diluted Earnings Per Share $0.17 $0.17
COMMON SHARES
Basic Shares Outstanding 199.2M shares 197.2M shares
Diluted Shares Outstanding 199.2M shares 197.3M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.440B $2.968B
YoY Change 15.91%
Cash & Equivalents $700.3M $451.7M
Short-Term Investments $2.740B $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 $272.9M $273.6M
YoY Change -0.26% 3.26%
Goodwill $428.2M $420.4M
YoY Change 1.85%
Intangibles $39.00M $26.82M
YoY Change 45.44%
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 $15.98B $16.02B
YoY Change -0.26% 10.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $197.0M $200.0M
YoY Change -1.5% -44.75%
Deferred Revenue
YoY Change
Short-Term Debt $125.1M $523.1M
YoY Change -76.09% 205.92%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $197.0M $200.0M
YoY Change -1.5% -44.75%
LONG-TERM LIABILITIES
Long-Term Debt $2.887B $2.915B
YoY Change -0.96% 0.1%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $2.887B $2.915B
YoY Change -0.96% 0.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $197.0M $200.0M
Total Long-Term Liabilities $2.887B $2.915B
Total Liabilities $14.46B $14.52B
YoY Change -0.41% 10.31%
SHAREHOLDERS EQUITY
Retained Earnings $94.00M $92.93M
YoY Change 1.16% 1.15%
Common Stock $1.467B $1.454B
YoY Change 0.87% 17.59%
Preferred Stock
YoY Change
Treasury Stock (at cost) $22.00K
YoY Change -99.68%
Treasury Stock Shares 0.000 shares 2.079M shares
Shareholders Equity $1.522B $1.503B
YoY Change
Total Liabilities & Shareholders Equity $15.98B $16.02B
YoY Change -0.26% 10.7%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $33.92M $32.82M
YoY Change 3.36% -10.35%
Depreciation, Depletion And Amortization $6.900M $7.000M
YoY Change -1.43% 18.64%
Cash From Operating Activities $138.4M $19.80M
YoY Change 598.99% -38.51%
INVESTING ACTIVITIES
Capital Expenditures -$3.400M -$4.600M
YoY Change -26.09% 0.0%
Acquisitions
YoY Change
Other Investing Activities -$292.3M -$61.10M
YoY Change 378.4% -119.45%
Cash From Investing Activities -$295.7M -$65.70M
YoY Change 350.08% -121.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -112.4M -3.200M
YoY Change 3412.5% -97.72%
NET CHANGE
Cash From Operating Activities 138.4M 19.80M
Cash From Investing Activities -295.7M -65.70M
Cash From Financing Activities -112.4M -3.200M
Net Change In Cash -269.7M -49.10M
YoY Change 449.29% -124.4%
FREE CASH FLOW
Cash From Operating Activities $138.4M $19.80M
Capital Expenditures -$3.400M -$4.600M
Free Cash Flow $141.8M $24.40M
YoY Change 481.15% -33.7%

Facts In Submission

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dei Entity Registrant Name
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dei Entity Filer Category
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dei Document Type
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us-gaap Occupancy Net
OccupancyNet
37068000
us-gaap Fdic Indemnification Asset Accretion Of Discount
FDICIndemnificationAssetAccretionOfDiscount
65000
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
443000
us-gaap Labor And Related Expense
LaborAndRelatedExpense
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us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
4043000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
104679000
us-gaap Advertising Expense
AdvertisingExpense
3652000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
23775000
vly Loss Due To Remeasurement Of Repossessed Asset At Fair Value
LossDueToRemeasurementOfRepossessedAssetAtFairValue
570000
vly Net Change In Fair Value Of Borrowings Carried At Fair Value
NetChangeInFairValueOfBorrowingsCarriedAtFairValue
2406000
vly Other Comprehensive Income Loss Non Credit Impairment Losses On Securities Net Of Tax
OtherComprehensiveIncomeLossNonCreditImpairmentLossesOnSecuritiesNetOfTax
6751000
vly Change In Fdic Loss Share Receivable Excluding Reimbursements
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-5175000
vly Gross Gains Realized On Maturities And Other Securities Transactions
GrossGainsRealizedOnMaturitiesAndOtherSecuritiesTransactions
649000
vly Specific Reserves For Loan Losses
SpecificReservesForLoanLosses
3700000
vly Troubled Debt Restructuring Modifications Number Of Contracts
TroubledDebtRestructuringModificationsNumberOfContracts
52 Contract
vly Troubled Debt Restructuring Modifications Pre Modification Recorded Investment
TroubledDebtRestructuringModificationsPreModificationRecordedInvestment
38983000
vly Gross Losses Realized On Maturities And Other Securities Transactions
GrossLossesRealizedOnMaturitiesAndOtherSecuritiesTransactions
31000
vly Fair Value Unobservable Inputs Quantitative Information For Assets Measured On Nonrecurring Basis Impaired Loans Non Current Appraisal Discount Percentage
FairValueUnobservableInputsQuantitativeInformationForAssetsMeasuredOnNonrecurringBasisImpairedLoansNonCurrentAppraisalDiscountPercentage
0.138 pure
vly Intangible Assets Impairment Loss Or Recovery Mortgage Servicing Rights
IntangibleAssetsImpairmentLossOrRecoveryMortgageServicingRights
2100000
vly Professional And Legal Fees
ProfessionalAndLegalFees
8177000
vly Allowance For Covered Loan Losses Net Charge Offs
AllowanceForCoveredLoanLossesNetChargeOffs
3100000
vly Impaired Collateral Dependent Loans Charge Offs
ImpairedCollateralDependentLoansChargeOffs
13400000
vly Schedule Of Gains Losses Income Related To Derivative Instruments Not Designated As Hedging Instruments
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<div> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The net gains included in the consolidated statements of income related to derivative instruments not designated as hedging instruments for the three months ended June&#xA0;30, 2013 and 2012 were as follows:</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="92%" align="center"> <tr> <td width="72%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Three&#xA0;Months&#xA0;Ended<br /> June&#xA0;30,</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Six&#xA0;Months&#xA0;Ended<br /> June&#xA0;30,</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2013</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2012</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2013</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2012</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" colspan="14" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>(in thousands)</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Times New Roman" size="2">Non-designated hedge interest rate derivatives</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Other non-interest income</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,461</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,090</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">217</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> </table> </div>
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PaymentsReimbursementsFromFdic
-865000
vly Accretion Amortization Of Discounts And Premiums Investments And Borrowings
AccretionAmortizationOfDiscountsAndPremiumsInvestmentsAndBorrowings
13332000
vly Number Of Days Loans Placed On Non Accrual Status
NumberOfDaysLoansPlacedOnNonAccrualStatus
90 D
vly Percentage Of Increase In Matching Contribution To Align With Retirement Plan Match
PercentageOfIncreaseInMatchingContributionToAlignWithRetirementPlanMatch
0.06 pure
vly Troubled Debt Restructuring Modifications Post Modification Recorded Investment
TroubledDebtRestructuringModificationsPostModificationRecordedInvestment
36882000
vly Provision For Non Covered Loans
ProvisionForNonCoveredLoans
6456000
vly Defined Benefit Plan Effect Of One Percentage Point Decrease On Net Periodic Pension Benefit Expense
DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnNetPeriodicPensionBenefitExpense
2100000
vly Finite Lived Intangible Asset Net
FiniteLivedIntangibleAssetNet
3500000
vly Number Of Loans
NumberOfLoans
1
vly Provision For Loan Losses
ProvisionForLoanLosses
-4180000
vly Gains Losses On Maturities And Other Securities Transactions
GainsLossesOnMaturitiesAndOtherSecuritiesTransactions
618000
vly Fair Value Of Plan Assets Increased Percentage
FairValueOfPlanAssetsIncreasedPercentage
0.237 pure
vly Transfer Of Loans Held For Investment To Other Real Estate
TransferOfLoansHeldForInvestmentToOtherRealEstate
13384000
vly Provision For Covered Loan Losses
ProvisionForCoveredLoanLosses
-2276000
vly Impairment Of Core Deposits And Intangibles
ImpairmentOfCoreDepositsAndIntangibles
0
vly Sales Of Loans Held For Investment
SalesOfLoansHeldForInvestment
0
vly Provision For Unfunded Letters Of Credit
ProvisionForUnfundedLettersOfCredit
141000
vly Change In Fdic Loss Share Receivable
ChangeInFdicLossShareReceivable
-5175000
vly Amount Recognized In Non Interest Income Related To Discount Accretion And Post Acquisition Adjustments To Fdic Loss Share Receivable
AmountRecognizedInNonInterestIncomeRelatedToDiscountAccretionAndPostAcquisitionAdjustmentsToFdicLossShareReceivable
-5200000
vly Other Reimbursable Expenses From Fdic
OtherReimbursableExpensesFromFdic
2492000
vly Interest On Federal Funds Sold And Other Short Term Investments
InterestOnFederalFundsSoldAndOtherShortTermInvestments
518000
vly Net Increase In Expected Cash Flows
NetIncreaseInExpectedCashFlows
120948000
vly Percentage Of Purchased Credit Impaired Loans Not Covered
PercentageOfPurchasedCreditImpairedLoansNotCovered
0.85 pure
vly Average Expected Life Of Non Covered Purchased Credit Impaired Loans At Date Of Acquisition
AverageExpectedLifeOfNonCoveredPurchasedCreditImpairedLoansAtDateOfAcquisition
P2Y6M
vly Average Expected Life Of Non Covered Purchased Credit Impaired Loans At Reporting Date
AverageExpectedLifeOfNonCoveredPurchasedCreditImpairedLoansAtReportingDate
P4Y
vly Decrease In Expected Credit Losses For Non Covered Pools
DecreaseInExpectedCreditLossesForNonCoveredPools
20100000
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EarningsPerShareDiluted
0.34
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.33
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
197105638 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
17110 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
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OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsPeriodIncreaseDecrease
11731000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
161158000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
197088528 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7700000 shares
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
249530000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Writedown Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForWritedownOfSecuritiesNetOfTax
114000
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
236428000
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
6378000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
85925000
us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
12032000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
49012000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
61730000
us-gaap Fdic Indemnification Asset Cash Payments Received
FDICIndemnificationAssetCashPaymentsReceived
7537000
us-gaap Interest And Dividend Income Securities Trading Or Measured At Fair Value
InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue
884000
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
217000
us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
38865000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1000000
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
135332000
us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion
43569000
us-gaap Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
117255000
us-gaap Income Taxes Paid
IncomeTaxesPaid
35061000
us-gaap Stock Issued1
StockIssued1
208418000
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IncreaseDecreaseInOtherOperatingAssets
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us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
1076000
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-2170000
us-gaap Noncash Or Part Noncash Acquisition Other Liabilities Assumed1
NoncashOrPartNoncashAcquisitionOtherLiabilitiesAssumed1
52998000
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesBeforeTaxPortionAttributableToParent
-3739000
us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
101000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
6513000
us-gaap Payments For Origination And Purchases Of Loans Held For Sale
PaymentsForOriginationAndPurchasesOfLoansHeldForSale
196622000
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
4178000
us-gaap Trading Gains Losses
TradingGainsLosses
621000
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-1175000
us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
8719000
us-gaap Fees And Commissions Fiduciary And Trust Activities
FeesAndCommissionsFiduciaryAndTrustActivities
3758000
us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
2206000
us-gaap Interest Paid
InterestPaid
91592000
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-2781000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
96995000
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
340994000
us-gaap Maturities Of Subordinated Debt
MaturitiesOfSubordinatedDebt
10000000
us-gaap Goodwill Other Changes
GoodwillOtherChanges
0
us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
288000
us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
292272000
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
13102000
us-gaap Allowance For Loan And Lease Losses Writeoffs Net
AllowanceForLoanAndLeaseLossesWriteoffsNet
16751000
us-gaap Net Income Loss
NetIncomeLoss
67351000
us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
461749000
us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
15616000
us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
6346000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
18574000
us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
3591000
us-gaap Servicing Fees Net
ServicingFeesNet
2308000
us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
6307000
us-gaap Gain On Sale Of Investments
GainOnSaleOfInvestments
1374000
us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
1047000
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
1477936000
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-551000
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
6827000
us-gaap Dividend Income Operating
DividendIncomeOperating
3425000
us-gaap Noninterest Income
NoninterestIncome
46625000
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
4466000
us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Cash Flows
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsCashFlows
369000
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
206000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8407000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
7117000
us-gaap Noncash Or Part Noncash Acquisition Other Assets Acquired1
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72137000
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
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us-gaap Noninterest Expense
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186058000
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
9457000
us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
90831000
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
1568767000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-675000
us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
1689000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
31034000
us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
198128000
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
622000
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
8955000
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
12803000
us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
10044000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-1619000
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
61337000
us-gaap Other Noninterest Expense
OtherNoninterestExpense
27738000
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-41523000
us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Additions
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAdditions
186262000
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
117587000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
4301000
us-gaap Share Based Compensation
ShareBasedCompensation
2701000
us-gaap Loss On Sale Of Investments
LossOnSaleOfInvestments
298000
us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1
8050000
us-gaap Fdic Indemnification Asset Additional Estimated Losses
FDICIndemnificationAssetAdditionalEstimatedLosses
3868000
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
281273000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
72671000
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
329201000
us-gaap Interest Expense Time Deposits
InterestExpenseTimeDeposits
19461000
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
58585000
us-gaap Noncash Or Part Noncash Acquisition Investments Acquired1
NoncashOrPartNoncashAcquisitionInvestmentsAcquired1
275650000
us-gaap Interest Expense
InterestExpense
91464000
us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions Additional Credit Losses
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsAdditionsAdditionalCreditLosses
550000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4207000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
4139000
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
20929000
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
3239000
us-gaap Impairment Of Investments
ImpairmentOfInvestments
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4490000
us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Portion Attributable To Parent Heldtomaturity Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParentHeldtomaturitySecurities
550000
us-gaap Occupancy Net
OccupancyNet
34265000
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
190006000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-119521000
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-881000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
604000
vly Loans Non Cash Cf
LoansNonCashCf
1088421000
CY2013Q2 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
25000000
us-gaap Fdic Indemnification Asset Accretion Of Discount
FDICIndemnificationAssetAccretionOfDiscount
162000
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
382000
us-gaap Labor And Related Expense
LaborAndRelatedExpense
102240000
us-gaap Defined Benefit Plan Service Cost
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3971000
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65984000
vly Gross Losses Realized On Maturities And Other Securities Transactions
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vly Intangible Assets Impairment Loss Or Recovery Mortgage Servicing Rights
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2554000
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4851000
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197246322 shares
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122071000
CY2012Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Writedown Of Securities Net Of Tax
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304000
CY2012Q2 us-gaap Interest Income Expense After Provision For Loan Loss
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1938000
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103000
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2891000
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2150000
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699000
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550000
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1985000
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550000
CY2012Q2 us-gaap Income Tax Expense Benefit
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4547000
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1800000
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6000
CY2012Q2 vly Troubled Debt Restructuring Modifications Number Of Contracts
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36000
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401000
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CY2012Q2 vly Troubled Debt Restructuring Modifications Post Modification Recorded Investment
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CY2012Q2 vly Troubled Debt Restructuring Modifications Pre Modification Recorded Investment
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59438000
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1965000
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CY2013Q2 us-gaap Comprehensive Income Net Of Tax
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CY2013Q2 us-gaap Interest Income Securities Taxable
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2036000
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3508000
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CY2013Q2 us-gaap Financing Receivable Allowance For Credit Losses Recovery
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CY2013Q2 us-gaap Fees And Commissions Fiduciary And Trust Activities
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2257000
CY2013Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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18784000
CY2013Q2 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
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1711000
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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44883000
CY2013Q2 us-gaap Interest And Dividend Income Operating
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CY2013Q2 us-gaap Interest And Fee Income Loans And Leases
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CY2013Q2 us-gaap Net Income Loss
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CY2013Q2 us-gaap Interest Income Securities Tax Exempt
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3673000
CY2013Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
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8474000
CY2013Q2 us-gaap Bank Owned Life Insurance Income
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CY2013Q2 us-gaap Servicing Fees Net
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1721000
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14366000
CY2013Q2 us-gaap Gain On Sale Of Investments
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CY2013Q2 us-gaap Gain Loss On Sale Of Securities Net
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3031000
CY2013Q2 us-gaap Dividend Income Operating
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1504000
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CY2013Q2 us-gaap Defined Benefit Plan Expected Return On Plan Assets
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3183000
CY2013Q2 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Cash Flows
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75000
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133000
CY2013Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2013Q2 us-gaap Noninterest Expense
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4369000
CY2013Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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-995000
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15798000
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2383000
CY2013Q2 us-gaap Fdic Indemnification Asset Additional Estimated Losses
FDICIndemnificationAssetAdditionalEstimatedLosses
3467000
CY2013Q2 us-gaap Interest Expense Time Deposits
InterestExpenseTimeDeposits
7794000
CY2013Q2 us-gaap Interest Expense
InterestExpense
42483000
CY2013Q2 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
8356000
CY2013Q2 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1708000
CY2013Q2 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
220288000
CY2013Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-19856000
CY2013Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
25000
CY2013Q2 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
2552000
CY2013Q2 us-gaap Allowance For Loan And Lease Losses Writeoffs Net
AllowanceForLoanAndLeaseLossesWriteoffsNet
7036000
CY2013Q2 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
5574000
CY2013Q2 us-gaap Impairment Of Investments
ImpairmentOfInvestments
CY2013Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1927000
CY2013Q2 us-gaap Occupancy Net
OccupancyNet
18179000
CY2013Q2 us-gaap Fdic Indemnification Asset Accretion Of Discount
FDICIndemnificationAssetAccretionOfDiscount
32000
CY2013Q2 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
241000
CY2013Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
47733000
CY2013Q2 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
2056000
CY2013Q2 us-gaap Advertising Expense
AdvertisingExpense
1850000
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10961000
CY2013Q2 vly Other Comprehensive Income Loss Non Credit Impairment Losses On Securities Net Of Tax
OtherComprehensiveIncomeLossNonCreditImpairmentLossesOnSecuritiesNetOfTax
2008000
CY2013Q2 vly Gross Gains Realized On Maturities And Other Securities Transactions
GrossGainsRealizedOnMaturitiesAndOtherSecuritiesTransactions
41000
CY2013Q2 vly Troubled Debt Restructuring Modifications Number Of Contracts
TroubledDebtRestructuringModificationsNumberOfContracts
20 Contract
CY2013Q2 vly Troubled Debt Restructuring Modifications Pre Modification Recorded Investment
TroubledDebtRestructuringModificationsPreModificationRecordedInvestment
27611000
CY2013Q2 vly Gross Losses Realized On Maturities And Other Securities Transactions
GrossLossesRealizedOnMaturitiesAndOtherSecuritiesTransactions
1000
CY2013Q2 vly Intangible Assets Impairment Loss Or Recovery Mortgage Servicing Rights
IntangibleAssetsImpairmentLossOrRecoveryMortgageServicingRights
759000
CY2013Q2 vly Professional And Legal Fees
ProfessionalAndLegalFees
4285000
CY2013Q2 vly Allowance For Covered Loan Losses Net Charge Offs
AllowanceForCoveredLoanLossesNetChargeOffs
1600000
CY2013Q2 vly Impaired Collateral Dependent Loans Charge Offs
ImpairedCollateralDependentLoansChargeOffs
5200000
CY2013Q2 vly Number Of Days Loans Placed On Non Accrual Status
NumberOfDaysLoansPlacedOnNonAccrualStatus
90 D
CY2013Q2 vly Troubled Debt Restructuring Modifications Post Modification Recorded Investment
TroubledDebtRestructuringModificationsPostModificationRecordedInvestment
27459000
CY2013Q2 vly Provision For Non Covered Loans
ProvisionForNonCoveredLoans
2746000
CY2013Q2 vly Finite Lived Intangible Asset Net
FiniteLivedIntangibleAssetNet
1900000
CY2013Q2 vly Provision For Loan Losses
ProvisionForLoanLosses
-2636000
CY2013Q2 vly Gains Losses On Maturities And Other Securities Transactions
GainsLossesOnMaturitiesAndOtherSecuritiesTransactions
40000
CY2013Q2 vly Provision For Covered Loan Losses
ProvisionForCoveredLoanLosses
-110000
CY2013Q2 vly Impairment Of Core Deposits And Intangibles
ImpairmentOfCoreDepositsAndIntangibles
0
CY2013Q2 vly Sales Of Loans Held For Investment
SalesOfLoansHeldForInvestment
0
CY2013Q2 vly Provision For Unfunded Letters Of Credit
ProvisionForUnfundedLettersOfCredit
-84000
CY2013Q2 vly Change In Fdic Loss Share Receivable
ChangeInFdicLossShareReceivable
-2000000
CY2013Q2 vly Amount Recognized In Non Interest Income Related To Discount Accretion And Post Acquisition Adjustments To Fdic Loss Share Receivable
AmountRecognizedInNonInterestIncomeRelatedToDiscountAccretionAndPostAcquisitionAdjustmentsToFdicLossShareReceivable
-2000000
CY2013Q2 vly Other Than Temporarily Impaired Trust Preferred Securities Amortized Cost
OtherThanTemporarilyImpairedTrustPreferredSecuritiesAmortizedCost
41800000
CY2013Q2 vly Other Reimbursable Expenses From Fdic
OtherReimbursableExpensesFromFdic
1540000
CY2013Q2 vly Interest On Federal Funds Sold And Other Short Term Investments
InterestOnFederalFundsSoldAndOtherShortTermInvestments
302000
CY2013Q2 vly Change In Pension Benefit Obligation Due To Defined Benefit Plans Remeasurement
ChangeInPensionBenefitObligationDueToDefinedBenefitPlansRemeasurement
-22900000
CY2013Q2 vly Change In Accumulated Other Comprehensive Income Due To Defined Benefit Plan Remeasurement
ChangeInAccumulatedOtherComprehensiveIncomeDueToDefinedBenefitPlanRemeasurement
-19900000
CY2013Q2 vly Net Increase In Expected Cash Flows
NetIncreaseInExpectedCashFlows
120884000

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