alley National Bancorp Appoints Mitchell L. Crandell To First Senior Vice President, Chief Accounting Officer

WAYNE, N.J. – Friday, January 7, 2011– Valley National Bancorp (NYSE:VLY), the holding company for Valley National Bank has appointed Mitchell L. Crandell to First Senior Vice President, Chief Accounting Officer.

Mr. Crandell joined Valley National Bank in 2005 as Assistant Controller and was promoted to Controller in 2006 and Senior Vice President in 2008. He oversees the accounting operations, accounting policy, and also the internal and regulatory reporting for Valley National Bancorp and its subsidiaries, including its principal subsidiary, Valley National Bank.

Mr. Crandell started his career as a member of the financial services practice at KPMG LLP, and has over 18 years of experience in the financial services industry. He has held various positions, including the head of financial reporting and controller, at a multi-billion dollar national bank holding company located in Chicago, Illinois before joining Valley National Bank.

“Mitch is an experienced and knowledgeable professional who is ideally suited for his position,” remarked Senior Executive Vice President Alan Eskow. “He has a keen understanding of Valley’s business model and brings a fresh perspective that is particularly valuable in managing Valley for long term growth and profitability.”

Mr. Crandell received his Bachelor of Arts Degree in Accountancy, with honors, from Michigan State University in East Lansing, Michigan. He is a Certified Public Accountant and he is also a member of the American Institute of Certified Public Accountants (AICPA).

About Valley

Valley is a regional bank holding company with over $14 billion in assets, headquartered in Wayne, New Jersey. Its principal subsidiary, Valley National Bank, currently operates 200 branches in 135 communities serving 14 counties throughout northern and central New Jersey, Manhattan, Brooklyn and Queens. Valley National Bank is the largest commercial bank headquartered in New Jersey and is committed to providing the most convenient service, the latest in product innovations and an experienced and knowledgeable staff with a high priority on friendly customer service 24 hours a day, 7 days a week. Valley National Bank offers a wide range of deposit products, mortgage loans and cash management services to consumers and businesses including products tailored for the medical, insurance and leasing business. Valley National Bank’s comprehensive delivery channels enable customers to bank in person, by telephone or online.

For more information about Valley National Bank and its products and services, please visitwww.valleynationalbank.comor call Customer Service 24/7 at 800-522-4100.