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Tax Credit Investments (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Affordable Housing Tax Credit Investments, Other Tax Credit Investments, and Related Unfunded Commitments
The following table presents the balances of Valley’s affordable housing tax credit investments and other tax credit investments at December 31, 2025 and 2024:
20252024
(in thousands)
Other assets:
Affordable housing tax credit investments, net$28,665 $22,742 
Other tax credit investments, net471,961 278,468 
Total tax credit investments, net
$500,626 $301,210 
Affordable Housing Tax Credit Investments and Other Tax Credit Investments
The following table presents other information relating to Valley’s affordable housing tax credit investments and other tax credit investments for the years ended December 31, 2025, 2024 and 2023:
202520242023
(in thousands)
Components of income tax expense:
Affordable housing tax credits and other tax benefits$7,435 $5,319 $5,872 
Other tax credit investment credits and tax benefits60,873 32,091 20,069 
Total reduction in income tax expense
$68,308 $37,410 $25,941 
Amortization of tax credit investments:
Affordable housing tax credit investment losses$4,172 $3,501 $3,198 
Affordable housing tax credit investment impairment losses1,281 983 2,466 
Other tax credit investment losses8,300 5,143 1,266 
Other tax credit investment impairment losses28,039 9,319 11,079 
Total amortization of tax credit investments recorded in non-interest expense
$41,792 $18,946 $18,009