EXHIBIT 23.1

                        Independent Accountants' Consent
                        --------------------------------

The Board of Directors
Valley National Bancorp
VNB Capital Trust I

We consent to incorporation by reference in the Registration Statement on Form
S-3 (Nos. 333-71546 and 333-71546-01) of Valley National Bancorp and VNB Capital
Trust I, dated October 12, 2001, as amended by Amendment No.1 to the
Registration Statement, dated October 22, 2001, for the registration of
7,000,000 shares of preferred securities, which is incorporated by reference in
the Registration Statement on Form S-3, dated October 31, 2001, for the
registration of an additional 1,000,000 shares of preferred securities, of our
report dated January 17, 2001 relating to the consolidated statements of
financial condition of Valley National Bancorp and subsidiaries as of December
31, 2000 and 1999 and the related consolidated statements of income, changes in
shareholders' equity, and cash flows for each of the years in the three-year
period ended December 31, 2000, which report appears in the December 31, 2000
Annual Report on Form 10-K of Valley National Bancorp and our report dated
September 14, 2001 relating to the restated consolidated statements of financial
condition of Valley National Bancorp and subsidiaries as of December 31, 2000
and 1999 and the related restated consolidated statements of income, changes in
shareholders' equity, and cash flows for each of the years in the three-year
period ended December 31, 2000, which report appears in the October 1, 2001
Current Report on Form 8-K of Valley National Bancorp. We also consent to the
reference to our Firm under the heading "Experts" in the prospectus.


/s/ KPMG LLP

Short Hills, New Jersey
October 31, 2001