Investor Presentation

October 27-28, 2008

Exhibit 99.1

2

This

presentation

contains

forward

looking

statements

concerning

Valley’s

future

business

outlook,

financial

condition

and

operating

results. 

Generally,

the

words

"will,"

"may,"

"should,"

"continue,"

"believes,"

"expects,"

"anticipates"

or

similar

expressions

identify

forward

looking

statements. 

Readers

are

advised

not

to

place

undue

reliance

on

these

forward

looking

statements

as

they

are

influenced

by

certain

risk

factors

and

unpredictable

events.

Factors

that

could

cause

actual

results

to

differ

materially

from

those

predicted

by

the

forward

looking

statements

include

among

others:

unanticipated

changes

in

the

financial

markets

and

the

resulting

effects

on

financial

instruments

in

Valley’s

investment

portfolio;

unanticipated changes in the direction of interest rates;

volatility in earnings due to certain financial assets and liabilities held at fair value;

the occurrence of an other-than-temporary impairment to investment securities classified as available for sale or held to maturity;

stronger competition from banks, other financial institutions and other companies;

changes in loan, investment and mortgage prepayment assumptions;

insufficient allowance for credit losses;

a higher level of net loan charge-offs and delinquencies than anticipated;

a decline in the economy in Valley’s primary market areas, mainly in New Jersey and New York;

changes in relationships with major customers;

changes in effective income tax rates;

higher or lower cash flow levels than anticipated;

unanticipated difficulties relating to the systems integration of Greater Community Bancorp (“Greater Community”);

the inability to realize expected cost savings and synergies from the acquisition of Greater Community in the amounts and timeframe

anticipated;

material adverse changes in Valley’s operations or earnings;

the inability to retain Greater Community’s customers or employees;

inability to hire or retain qualified employees;

a

decline

in

the

levels

of

deposits

or

loss

of

alternate

funding

sources;

a decrease in loan origination volume;

a change in legal and regulatory barriers including issues related to compliance with anti-money laundering (“AML”) and bank secrecy

act (“BSA”) laws;

adoption, interpretation and implementation of new or pre-existing accounting pronouncements;

the development of new tax strategies or the disallowance of prior tax strategies;

operational risks, including the risk of fraud by employees or outsiders and unanticipated litigation pertaining to Valley’s fiduciary

responsibility; and

the

inability

to

successfully

implement

new

lines

of

business

or

new

products

and

services.

NOTE:  Valley disclaims any obligation to update or revise forward looking statements for any reason.

Information For Investors And Shareholders

3

Overview of Valley National Bancorp

81 Years -

Commercial Bank

Management Longevity/Ownership

Office

of

the

Chairman

–

total

of

146

years,

24.3

years

on

average

Big Bank –

Act Like Small Privately Owned Company

Marketplace

Sound Asset Quality

Strong Financial Performance

Consistent Shareholder Returns

4

Historical Performance

*  Per share data reflects the 5% common stock dividend issued on May 23, 2008.

** Includes $10.4 million after-tax, or $0.08 per share, other-than-temporary

impairment charge on government-sponsored investment grade perpetual callable preferred securities.

Historical Financial Data (1987-2007)*

(Dollars in millions, except for share data)

  Diluted

Year

Total

  Net

  Earnings

Stock Splits

End

Assets

  Income

  Per Share

and Dividends

2007

$12,749

$153.2

**

$1.21

1.25

%

16.43

%

$

0.79

5/07 -

5%

Stock Dividend

2006

12,395

163.7

1.27

1.33

17.24

0.77

5/06 -

5%

Stock Dividend

2005

12,436

163.4

1.29

1.39

19.17

0.75

5/05 -

5%

Stock Dividend

2004

10,763

154.4

1.28

1.51

22.77

0.73

5/04 -

5%

Stock Dividend

2003

9,873

153.4

1.27

1.63

24.21

0.70

5/03 -

5%

Stock Dividend

2002

9,148

154.6

1.23

1.78

23.59

0.66

5/02 -

5:4

Stock Split

2001

8,590

135.2

1.03

1.68

19.70

0.62

5/01 -

5%

Stock Dividend

2000

6,426

106.8

0.99

1.72

20.28

0.58

5/00 -

5%

Stock Dividend

1999

6,360

106.3

0.94

1.75

18.35

0.55

5/99 -

5%

Stock Dividend

1998

5,541

97.3

0.90

1.82

18.47

0.50

5/98 -

5:4

Stock Split

1997

5,091

85.0

0.82

1.67

18.88

0.43

5/97 -

5%

Stock Dividend

1996

4,687

67.5

0.72

1.47

17.23

0.39

5/96 -

5%

Stock Dividend

1995

4,586

62.6

0.66

1.40

16.60

0.38

5/95 -

5%

Stock Dividend

1994

3,744

59.0

0.73

1.60

20.03

0.36

5/94 -

10%

Stock Dividend

1993

3,605

56.4

0.71

1.62

21.42

0.28

4/93 -

5:4

Stock Split

1992

3,357

43.4

0.55

1.36

19.17

0.25

4/92 -

3:2

Stock Split

1991

3,055

31.7

0.41

1.29

15.40

0.24

1990

2,149

28.6

0.37

1.44

14.54

0.24

1989

1,975

36.0

0.46

1.92

19.93

0.23

1988

1,835

34.2

0.44

2.00

20.96

0.20

7/88 -

3:2

Stock Split

1987

1,663

32.1

0.42

2.02

22.95

0.20

Return on

Average

Assets

Return on

Average

Equity

Dividends

Per Share

5

Valley’s 3Q 2008 Highlights

Greater Community Bank Acquisition

Overview

Commercial bank with nearly $1.0 billion in total assets and 16 branches

Well-run financial institution -

credit quality, loan underwriting standards and

no exposure to sub-prime

Added over 450 new commercial customer relationships to Valley

$114 Million in new Goodwill

Deal Expectations

Over 30% of non-interest expense cost saves

Accretive to EPS by the beginning of 2009

Other Events

Fannie Mae and Freddie Mac OTTI of $70.9 Million (pre-tax): still earned $3.6

million net after tax

Core adjusted after tax Net Income of $47.7 Million and diluted E.P.S of $0.35

Net interest margin increase of 16 bps to 3.64%

Continued strong credit quality

9% annualized organic loan growth exclusive of Greater Community

Potential opportunities with TARP Capital Purchase Program

6

Current Environment

Market Place

Dislocation and uncertainty for many, resulting in new

customers

Economic slowdown resulting in decreased auto loan and

residential mortgage organic originations

Increased FDIC deposit insurance

Valley’s Earning Opportunities

Increased Net Interest Income due to expanding margins

New commercial relationships

Credit Quality

Low net charge-offs

Few non-performing assets

7

Valley’s Current Objectives

Maintain a quality balance sheet

Manage balance sheet, not be managed by

balance sheet growth

Continue to produce strong operating results

Minimize earnings volatility

8

Credit Culture

Focus on loan quality and profitability over growth

Abstained from exotic residential mortgage structures

and other volatile products, including sub-prime

loans, option ARMs

and high loan to value home

equity and residential loans personal guarantees on

most commercial loans

Strong borrower moral character

Borrower experience in similar type projects

Low loan to value ratios

Strong customer FICO score

Loan decisions not driven by yield but rather by loan

quality

9

Loan Quality  2003-

9/30/2008

0.36%

0.11%

0.44%

0.11%

0.32%

0.05%

0.33%

0.12%

0.36%

0.14%

0.30%

0.19%

0.00%

0.50%

1.00%

1.50%

2.00%

2003

2004

2005

2006

2007

9/30/2008

Non-Performing Loans to Total Loans

Net Charge-offs to Average Loans

annualized

10

Net Charge-offs to Average Loans

0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%

1.40%

Valley

FDIC Insured Commercial Banks

Total Loan Portfolio

Source –

FDIC

Recession

11

Net Charge-offs to Average Loans*

2003 –

2008 YTD**

(Average)

*Source -

SNL Financial

** Valley as of 9/30/08 and Peer Group as of 6/30/08

0.12%

0.26%

0.37%

1.07%

0.00%

0.15%

0.00%

0.26%

0.22%

0.43%

0.00%

0.13%

0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

Total Loans

Consumer

Home Equity

Construction &

Development

Commercial

1-4 Family

Valley

Peer Group

Peer group consists of banks with total assets between $3 billion and $50 billion

12

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

4.00%

4.50%

5.00%

Residential Mortgages

Home Equity

Commercial Mortgages

Commercial Loans*

30 Day + Delinquency Trend

* Excludes SBA Loans

13

Residential Mtg. Customer Profile

746

Current FICO Score

44%

Current Mark to Market Loan to Value

59%

Original Loan to Value

Residential

Customer

1

Valley

customer

profile

reflects

a

portfolio

review

conducted

by

an

independent

3

party

in

September

2008

of

Valley’s

Fannie Mae eligible conforming loans.

2

Reflects June 30, 2008 MBA data

3

Reflects September 30, 2008 delinquency rates

30 day + Delinquency Rate

Valley Customer Profile

0.13%

Unknown

Home Equity Loans

18.67%

6.41%

Industry

2

N/A

Sub-prime Loans

0.56%

Residential Mortgage

Valley

3

rd

1

14

Net Charge-offs to Average Loans

0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%

Valley

FDIC Insured Commercial Banks

Residential Mortgages

*Valley’s

Increase

between

1993

–

1997

is

mainly

attributable

to

acquisitions

Source –

FDIC

Recession

15

Net Charge-offs to Average Loans

-0.20%

0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%

1.40%

1.60%

Valley

FDIC Insured Commercial Banks

Home Equity

Recession

*Valley’s

Increase

between

1993

–

1997

is

mainly

attributable

to

acquisitions

Source –

FDIC

16

23%

21%

12%

11%

9%

9%

6%

5%

4%

Total

Commercial

Real

Estate

-

$2,841MM

9%

263

Residential

4%

99

Miscellaneous

11%

322

Mixed Use

5%

145

Specialty

12%

328

Office

6%

159

Healthcare

21%

607

Industrial

9%

255

Apartments

23%

663

Retail

% of Total

Property Type

$ Amount

(Millions)

Primary Property Type

% of Total

Property Type

$ Amount

(Millions)

Primary Property Type

Commercial Real Estate

Primary Property Type Composition

* Total

CRE

loan

balance

is

based

on

Valley’s

internal

loan

hierarchy

structure and does not reflect Call Report reclassifications.

As of 6/30/08

17

53%

52%

58%

54%

58%

39%

56%

40%

56%

0%

20%

40%

60%

80%

100%

Commercial Real Estate

Primary Property Type Loan to Value

* LTV ratios do not include construction or owner occupied

commercial real estate loans.

As of 6/30/08

58%

Residential

56%

Miscellaneous

54%

Mixed Use

40%

Specialty

58%

Office

56%

Healthcare

52%

Industrial

39%

Apartments

53%

Retail

Weighted Avg.

LTV

Primary Property Type

Weighted Avg.

LTV

Primary Property Type

18

26%

23%

20%

9%

7%

6%

5%

4%

Total Retail Property Types -

$663MM

Commercial Real Estate

Retail Property Type Composition

% of Retail

Property

Type

Retail Property Type

% of Retail

Property

Type

Retail Property Type

Auto Dealership

Single Tenant Retail

Multi-Tenanted Retail –

No Anchor

Multi-Tenanted Retail -

Anchor

9%

20%

23%

26%

4%

Private Education Facilities

5%

Private & Public Clubs

6%

Food Establishments

7%

Other

As of 6/30/08

19

72%

22%

6%

Total

Commercial

Real

Estate

-

$2,841MM

Total Commercial Real Estate

by Location

$174MM

Other States

$636MM

New York

$2,031MM

New Jersey

Commercial

Real Estate

State

* Total

CRE

loan

balance

is

based

on

Valley’s

internal

loan

hierarchy

structure and does not reflect Call Report reclassifications

As of 6/30/08

20

Valley’s New Jersey and Rockland

County Locations

Current Valley branches

Branches under construction

Branches under Construction

Milltown, Middlesex County

North Brunswick, Middlesex County

Freehold, Monmouth County

Montebello, Rockland County

21

Valley’s New York City Locations

Current Valley branches

Branches under construction

Branches under Construction

4501 13   Avenue, Brooklyn

2054 86   Street, Brooklyn

207 Brighton Beach Avenue, Brooklyn

2902 Avenue U, Brooklyn

111 4   Avenue, Manhattan

107 Liberty Avenue, Queens

69-20 80   Street, Queens

61-80 Grand Avenue, Queens

76-09 Main Street, Queens

th

th

th

th

22

For More Information

Log onto our web site:   www.valleynationalbank.com

Visit our kids site:

www.vnbkids.com

E-mail requests to:   dgrenz@valleynationalbank.com

Call Shareholder Relations at: (973) 305-3380

Write to:  Valley National Bank

1455 Valley Road

Wayne, New Jersey 07470

Attn:     Dianne M. Grenz, First Senior Vice President

Director of Shareholder & Public Relations

Log onto our website above or www.sec.gov to obtain free copies

of documents filed by Valley with the SEC