We use the density-matrix-renormalization-group (DMRG) method to study the combined effects of nonlocal interactions on valence transitions and the formation of excitonic bound states in the generalized Falicov-Kimball model. In particular, we consider the nearest-neighbour Coulomb interaction U nn between two d, two f , d and f electrons as well as the so-called correlated hopping term U ch and examine their effects on the density of conduction n d (valence n f ) electrons and the excitonic momentum distribution N (q). It is shown that U nn and U ch exhibit very strong and fully different effects on valence transitions and the formation (condensation) of excitonic bound states. While the nonlocal interaction U nn suppresses the formation of zero momentum condensate (N (q=0)) and stabilizes the intermediate valence phases with n d ∼ 0.5, n f ∼ 0.5, the correlated hopping term U ch significantly enhances the number of excitons in the zero-momentum condensate and suppresses the stability region of intermediate valence phases. The physically most interesting results are observed if both U nn and U ch are nonzero, when the combined effects of U nn and U ch are able to generate discontinuous changes in n f , N (q=0) and some other ground-state quantities.