alley National Bank Appoints Robert Peterson To Senior Vice President – Senior Credit Officer

WAYNE, N.J. – Tuesday, January 18, 2011– Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NYSE:VLY), announced today the appointment of Robert Peterson to Senior Vice President/Senior Credit Officer.

As a Senior Credit Officer for the Credit Risk Management Department, Mr. Peterson reviews and approves commercial loans and mortgages in support of the Commercial Mortgage and Healthcare Lending business units. He provides credit risk assessment for the Bank’s investment portfolio and provides guidance to lenders and underwriters concerning commercial loans and other credit policy issues. In addition to these responsibilities, Mr. Peterson is also a Regulation O Loan Officer.

“Robert is an experienced and knowledgeable credit officer,” remarked Executive Vice President Robert Farrell. “He plays an important role in helping Valley maintain a sound and well-respected credit culture. This promotion is well deserved.”

Mr. Peterson received his Bachelor of Arts Degree in Economics from Alfred University and a Master’s Degree in Business Administration from Rutgers University. He joined Valley National Bank in 1991 to manage the Commercial Credit Department. His managerial responsibilities were later expanded to include commercial loan operations. In 2008, he was appointed to Senior Credit Officer.

Mr. Peterson can be reached at 973-872-5808 or by email atrpeterson@valleynationalbank.com.

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.