v3.26.1
Goodwill and Other Intangible Assets
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
The carrying amounts of goodwill allocated to Valley's reporting units at both June 30, 2026 and December 31, 2025, were as follows:
Reporting Unit *
Wealth
Management		Consumer
Banking		Commercial
Banking		Total
(in thousands)
$78,142 $349,646 $1,441,148 $1,868,936 
*    The Wealth Management and Consumer Banking reporting units are both components of the overall Consumer Banking operating segment, which is further described in Note 15.
During the second quarter 2026, Valley performed the annual goodwill impairment test at its normal assessment date, which resulted in no impairment of goodwill. During the six months ended June 30, 2026, there were no triggering events that would more likely than not reduce the fair value of any reporting unit below its carrying amount. There was no impairment of goodwill recognized during the three and six months ended June 30, 2026 and 2025.
The following table summarizes other intangible assets as of June 30, 2026 and December 31, 2025: 
Gross
Intangible
Assets		Accumulated
Amortization		Net
Intangible
Assets
(in thousands)
June 30, 2026
Loan servicing rights$130,114 $(110,636)$19,478 
Core deposits205,870 (158,297)47,573 
Other50,393 (28,245)22,148 
Total other intangible assets$386,377 $(297,178)$89,199 
December 31, 2025
Loan servicing rights$128,603 $(108,833)$19,770 
Core deposits215,620 (159,128)56,492 
Other50,393 (25,780)24,613 
Total other intangible assets$394,616 $(293,741)$100,875 
Loan servicing rights are accounted for using the amortization method. Under this method, Valley amortizes the loan servicing assets over the period of the economic life of the assets arising from estimated net servicing revenues. On a quarterly basis, Valley stratifies its loan servicing rights into groupings based on risk characteristics and assesses each group for impairment based on fair value. Impairment charges on loan servicing rights are recognized in earnings when the book value of a stratified group of loan servicing rights exceeds its estimated fair value. There was no impairment of loan servicing rights recognized during the three and six months ended June 30, 2026 and 2025.
Core deposits are amortized using an accelerated method over a period of 10.0 years.
The line item labeled “Other” included in the table above primarily consists of customer lists, certain financial asset servicing contracts and covenants not to compete, which are amortized over their expected lives generally using a straight-line method and have a weighted average amortization period of approximately 13.6 years.
Valley evaluates core deposits and other intangibles for impairment when an indication of impairment exists. There was no impairment of core deposits and other intangibles recognized during the three and six months ended June 30, 2026 and 2025.
The following table presents the estimated future amortization expense of other intangible assets for the remainder of 2026 through 2030: 
YearLoan Servicing
Rights		Core
Deposits		Other
(in thousands)
2026$1,277 $8,304 $2,340 
20272,348 13,544 4,205 
20282,079 10,117 3,633 
20291,837 7,500 3,081 
20301,621 4,914 2,584 
Valley recognized amortization expense on other intangible assets totaling approximately $6.3 million and $7.4 million for the three months ended June 30, 2026 and 2025, respectively, and $13.2 million and $15.4 million for the six months ended June 30, 2026 and 2025, respectively.