Exhibit 99.1

For Release: IMMEDIATELY

Contact:

Stephen F. Carman, VP/Treasurer

(609) 631-6222 or carmans@ynb.com

Patrick M. Ryan, CEO

(609) 631-6177

YNB’s website

www.ynb.com

YARDVILLE NATIONAL BANCORP CITES RETAIL EXPANSION IN THIRD QUARTER EARNINGS

Hamilton, NJ ... October 23, 2006... Execution of Yardville National Bancorp’s (NASDAQ:YANB) retail banking strategy helped the company balance the effects of slowing commercial loan growth in the third quarter, as both net income and earnings per share for the third quarter of 2006 were comparable to the same period one year ago. YNB’s net income for the third quarter was $5.33 million compared to $5.35 million earned for the same period of 2005 while diluted earnings per share for the quarter were $0.47 compared with $0.48 for the third quarter of 2005.

For the first nine months of 2006, YNB reported a decline in net income to $15.6 million compared with $16.6 million for the same period in 2005. This is due principally to an increase in non-interest expense of $4.0 million and an increase in the provision for loan losses of $575,000, partially offset by a $1.9 million increase in net interest income and a decrease in income tax expense of $2.2 million. Despite the prolonged flat yield curve and the challenge to meet commercial loan pricing terms and structures offered by competitors, YNB’s tax equivalent net interest margin remained stable at 3.03 percent for the nine month period ended September 30, 2006, compared to the same period in 2005.

Diluted earnings per share for the nine months ended September 30, 2006 were $1.37 compared to $1.51 for the same period in 2005. This reflects both the lower net income for the first nine months of 2006 and the impact of the private placement of additional shares of common stock at the end of 2005.

“The combination of slowing commercial loan growth and, to a lesser extent, certain credits that we are addressing diligently, have negatively impacted the level of net interest income improvement we expected and, consequently, YNB’s overall performance year to date,” commented YNB CEO Patrick M. Ryan.

While YNB continued to benefit from established relationships with long-time commercial lending customers, many of them are conservatively managing their real estate portfolios given the current environment. Large payoffs of existing loans from these customers have offset additions to the commercial portfolio from new customers in new markets. At September 30, 2006, total loans were $2.00 billion, an increase of 1.1 percent over $1.97 billion in total loans at September 30, 2005.

Non-performing assets (NPAs) were up $6.3 million at September 30, 2006 compared to the same date in 2005, but have been reduced on a linked quarter basis from $24.1 million at June 30, 2006 to $20.3 million at September 30, 2006. Total NPAs were 0.68 percent of total assets at September 30, 2006, compared with 0.47 percent of total assets at September 30, 2005. In the third quarter, a real estate developer with a sizable lending relationship filed for bankruptcy. Although the loans are well-secured, YNB placed this $7.3 million relationship in nonaccrual loans. Also during the third quarter, YNB recovered $7.4 million of the $10 million

Solomon Dwek line of credit and charged off the remaining $2.6 million. The remainder of the relationship is currently performing and is secured by real estate collateral. The allowance for loan losses to total loans was 1.12 percent of total loans, covering 112.9 percent of total nonperforming loans at September 30, 2006. Net loan chargeoffs increased to $6.6 million for the first nine months of 2006 compared to $3.1 million for the same period last year.

“Although we are continuing our emphasis on commercial banking, retail banking has become an important strategic focus for YNB,” noted F. Kevin Tylus, YNB President and Chief Operating Officer. “We have experienced positive results as our ‘Simply Better’ suite of products continues to be well received in new and existing markets, and we are using these lower-cost consumer deposits to replace expensive alternative deposit funds like Reserve Funds and Express Data CDs,” he continued. “ ‘Simply Better’ balances have increased $79.2 million from the beginning of this year through September 30, 2006. The change in the composition of our deposit base has helped us manage our deposit costs,” he continued, “but the decreased reliance on alternative deposit funds has resulted in relatively modest growth in total deposits.” At September 30, 2006, total deposits increased 0.9 percent to $2.03 billion from $2.01 billion at September 30, 2005.

YNB’s CEO Mr. Ryan elaborated on YNB’s small business strategy. “Our focus as we enter new markets is to introduce our retail brand and community banking philosophy through our expanded deposit product line while we develop small business lending opportunities,” he continued. “Accordingly, we are devoting resources to re-energizing our small business banking sector,” he concluded.

YNB has opened three new branches this year. Cream Ridge and Ringoes, New Jersey opened earlier this year, and one opened in Whitehouse Station, New Jersey in the third quarter, to bring YNB’s total to 30. Several more branches are planned to open in New Jersey’s dynamic Somerset and Middlesex counties during the fourth quarter of 2006 and in early 2007.

YNB’s Executive Vice President and Chief Financial Officer Stephen F. Carman provided further explanation of YNB’s third quarter results. “Two of the critical factors in achieving our financial objectives for 2006 were reaching commercial loan projections and an improving asset quality profile,” he explained. “The effect of slower commercial loan growth in 2006 and the impact of the aforementioned two nonperforming real estate developer relationships have restricted anticipated net interest income improvement and somewhat hampered progress in achieving our financial objectives,” he said. “As we noted last quarter, improvements in loan growth and credit quality were key elements of our ability to achieve our previously issued guidance. We now anticipate that our net income for 2006 will be near our 2005 net income, between $21.0 and $22.0 million, with 2006 diluted earnings per share between $1.85 and $1.93.”

At September 30, 2006, YNB’s total risk-based capital was 12.2 percent, Tier 1 capital to risk-weighted assets was 11.2 percent, and Tier 1 capital to average assets was 8.8 percent. In the first three quarters of 2006, YNB paid total cash dividends of $0.345 per share. The third quarter of 2006 marks the 51^st consecutive period in which YNB has paid shareholders a cash dividend.

YNB had $3.0 billion in assets at September 30, 2006, with 30 branches serving individuals and businesses in Mercer, Hunterdon, Burlington, Middlesex, Somerset, and Ocean counties in New Jersey and Bucks County in Pennsylvania. Located in the corridor between New York City and Philadelphia, YNB offers a broad range of lending, deposit and other financial products and services to business and individual banking customers throughout the region.

Note regarding forward-looking statements

This press release and other statements made from time to time by our management contain express and implied statements relating to our future financial condition, results of operations, plans, objectives, performance, and business, which are considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These may include statements that relate to, among other things, profitability, liquidity, adequacy of the allowance for loan losses, plans for growth, interest rate sensitivity, market risk, regulatory compliance, and financial and other goals. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be achieved. Actual results may differ materially from those expected or implied as a result of certain risks and uncertainties, including, but not limited to, the results of our efforts to implement our retail strategy, adverse changes in our loan portfolio and the resulting credit risk-related losses and expenses, interest rate fluctuations and other economic conditions, our ability to attract core deposits, continued relationships with major customers, competition in product offerings and product pricing, adverse changes in the economy that could increase credit-related losses and expenses, adverse changes in the market price of our common stock, proxy contests and litigation, compliance with laws and regulatory requirements, including our agreement with the Office of the Comptroller of the Currency and NASDAQ standards, and other risks and uncertainties detailed from time to time in our filings with the Securities and Exchange Commission, as well as other risks and uncertainties detailed from time to time in statements made by our management. The company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

Yardville National Bancorp

Summary of Financial Information

(Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands, except per share amounts)	2006			2005			2006			2005
Stock Information:
Weighted average shares outstanding:
Basic		10,965			10,602			10,911			10,558
Diluted		11,345			11,050			11,314			11,011
Shares outstanding end of period		11,033			10,572
Earnings per share:
Basic	$	0.49		$	0.50		$	1.43		$	1.57
Diluted		0.47			0.48			1.37			1.51
Dividends paid per share		0.115			0.115			0.345			0.345
Book value per share		17.51			15.97
Tangible book value per share		17.38			15.81
Closing price per share		35.66			35.25
Closing price to tangible book value		205.18	%		222.96	%
Key Ratios:
Return on average assets		0.72	%		0.73	%		0.70	%		0.77	%
Return on average stockholders' equity		11.46			12.61			11.47			13.41
Net interest margin		2.95			2.94			2.96			2.96
Net interest margin (tax equivalent) (1)		3.02			3.01			3.03			3.03
Efficiency ratio		58.50			56.40			59.89			55.13
Equity-to-assets at period end								6.41			5.62
Tier 1 leverage ratio (2)								8.82			7.91
Asset Quality Data:
Net loan charge-offs	$	2,835		$	1,148		$	6,598		$	3,144
Nonperforming assets as a percentage of total assets		0.68	%		0.47	%
Allowance for loan losses at period end as a
percent of:
Total loans		1.12			1.15
Nonperforming loans		112.89			162.00
Nonperforming assets at period end:
Nonperforming loans	$	19,825		$	13,995
Other real estate		502			—
Total nonperforming assets	$	20,327		$	13,995

(1) The net interest margin is equal to net interest income divided by average interest earning assets. In order to present pre-tax income and resultant yields on

tax-exempt investments and loans on a basis comparable to those on taxable investments and loans, a tax equivalent adjustment is made to interest income.

The tax equivalent adjustment has been computed using a Federal income tax rate of 35% and has the effect of increasing interest income by $544,000 and

$503,000 for the three month periods and $1,614,000 and $1,461,000 for the nine month periods ended September 30, 2006 and 2005, respectively.

(2) Tier 1 leverage ratio is Tier 1 capital to adjusted quarterly average assets.

Yardville National Bancorp and Subsidiaries

Consolidated Statements of Income

(Unaudited)

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share amounts)	2006		2005		2006		2005
INTEREST INCOME:
Interest and fees on loans	$	38,062	$	32,785	$	110,790	$	92,704
Interest on deposits with banks		679		397		1,245		748
Interest on securities available for sale		8,833		9,315		26,637		27,485
Interest on investment securities:
Taxable		22		26		71		82
Exempt from Federal income tax		1,044		957		3,079		2,761
Interest on Federal funds sold		241		274		521		576
Total Interest Income		48,881		43,754		142,343		124,356
INTEREST EXPENSE:
Interest on savings account deposits		7,061		5,632		20,182		15,082
Interest on certificates of deposit of $100,000 or more		2,886		1,983		7,670		4,576
Interest on other time deposits		7,176		4,296		19,139		11,182
Interest on borrowed funds		9,177		9,737		27,873		28,557
Interest on subordinated debentures		1,411		1,217		4,077		3,480
Total Interest Expense		27,711		22,865		78,941		62,877
Net Interest Income		21,170		20,889		63,402		61,479
Less provision for loan losses		2,125		2,100		6,275		5,700
Net Interest Income After Provision for Loan Losses		19,045		18,789		57,127		55,779
NON-INTEREST INCOME:
Service charges on deposit accounts		736		762		2,172		2,110
Securities gains, net		—		274		—		750
Income on bank owned life insurance		454		451		1,315		1,255
Other non-interest income		524		555		1,681		1,571
Total Non-Interest Income		1,714		2,042		5,168		5,686
NON-INTEREST EXPENSE:
Salaries and employee benefits		7,425		7,439		22,648		21,302
Occupancy expense, net		1,581		1,244		4,376		3,619
Equipment expense		794		751		2,446		2,284
Other non-interest expense		3,586		3,499		11,600		9,826
Total Non-Interest Expense		13,386		12,933		41,070		37,031
Income before income tax expense		7,373		7,898		21,225		24,434
Income tax expense		2,045		2,546		5,672		7,833
Net Income	$	5,328	$	5,352	$	15,553	$	16,601
EARNINGS PER SHARE:
Basic	$	0.49	$	0.50	$	1.43	$	1.57
Diluted		0.47		0.48		1.37		1.51
Weighted average shares outstanding:
Basic		10,965		10,602		10,911		10,558
Diluted		11,345		11,050		11,314		11,011

Yardville National Bancorp and Subsidiaries

Consolidated Statements of Condition

(Unaudited)

	September 30,						December 31,
(in thousands)	2006			2005			2005
Assets:
Cash and due from banks	$	30,656		$	39,645		$	52,686
Federal funds sold		26,465			14,200			10,800
Cash and Cash Equivalents		57,121			53,845			63,486
Interest bearing deposits with banks		67,544			22,835			16,408
Securities available for sale		707,239			795,107			741,668
Investment securities		95,509			87,817			89,026
Loans		1,995,003			1,974,155			1,972,840
Less: Allowance for loan losses		(22,380	)		(22,672	)		(22,703	)
Loans, net		1,972,623			1,951,483			1,950,137
Bank premises and equipment, net		11,697			11,193			11,697
Other real estate		502			—			—
Bank owned life insurance		49,168			45,756			46,152
Other assets		42,250			37,474			38,157
Total Assets	$	3,003,653		$	3,005,510		$	2,956,731
Liabilities and Stockholders’ Equity:
Deposits
Non-interest bearing	$	216,746		$	240,148		$	232,269
Interest bearing		1,815,459			1,774,097			1,740,448
Total Deposits		2,032,205			2,014,245			1,972,717
Borrowed funds
Securities sold under agreements to repurchase		10,000			10,000			10,000
Federal Home Loan Bank advances		674,000			724,000			704,000
Subordinated debentures		62,892			62,892			62,892
Obligation for Employee Stock Ownership Plan (ESOP)		1,828			94			2,250
Other		1,221			1,271			1,870
Total Borrowed Funds		749,941			798,257			781,012
Other liabilities		29,111			24,204			25,544
Total Liabilities	$	2,811,257		$	2,836,706		$	2,779,273
Stockholders’ equity:
Common stock: no par value		107,682			93,755			105,122
Surplus		2,205			2,205			2,205
Undivided profits		97,659			82,816			85,896
Treasury stock, at cost		(3,160	)		(3,160	)		(3,160	)
Unallocated ESOP shares		(1,828	)		(94	)		(2,250	)
Accumulated other comprehensive loss		(10,162	)		(6,718	)		(10,355	)
Total Stockholders’ Equity		192,396			168,804			177,458
Total Liabilities and Stockholders’ Equity	$	3,003,653		$	3,005,510		$	2,956,731

Financial Summary

Average Balances, Yields and Costs

(Unaudited)

	Three Months Ended September 30, 2006							Three Months Ended September 30, 2005
(in thousands)	Average Balance			Interest		Average Yield/ Cost		Average Balance			Interest		Average Yield/ Cost
INTEREST EARNING ASSETS:
Interest bearing deposits with banks	$	48,451		$	679	5.61	%	$	44,856		$	397	3.54	%
Federal funds sold		18,250			241	5.28			31,730			274	3.45
Securities		799,020			9,899	4.96			865,708			10,298	4.76
Loans (1)		2,006,680			38,062	7.59			1,897,451			32,785	6.91
Total interest earning assets	$	2,872,401		$	48,881	6.81	%	$	2,839,745		$	43,754	6.16	%
NON-INTEREST EARNING ASSETS:
Cash and due from banks	$	32,730						$	32,582
Allowance for loan losses		(23,450	)						(21,992	)
Premises and equipment, net		11,811							10,495
Other assets		79,990							77,729
Total non-interest earning assets		101,081							98,814
Total assets	$	2,973,482						$	2,938,559
INTEREST BEARING LIABILITIES:
Deposits:
Savings, money markets, and interest bearing demand	$	936,087		$	7,061	3.02	%	$	1,007,863		$	5,632	2.24	%
Certificates of deposit of $100,000 or more		252,200			2,886	4.58			229,898			1,983	3.45
Other time deposits		619,723			7,176	4.63			496,127			4,296	3.46
Total interest bearing deposits		1,808,010			17,123	3.79			1,733,888			11,911	2.75
Borrowed funds		689,532			9,177	5.32			740,330			9,737	5.26
Subordinated debentures		62,892			1,411	8.97			62,892			1,217	7.74
Total interest bearing liabilities	$	2,560,434		$	27,711	4.33	%	$	2,537,110		$	22,865	3.60	%
NON-INTEREST BEARING LIABILITIES:
Demand deposits	$	212,068						$	210,439
Other liabilities		15,031							21,304
Stockholders’ equity		185,949							169,706
Total non-interest bearing liabilities and
stockholders’ equity	$	413,048						$	401,449
Total liabilities and stockholders’ equity	$	2,973,482						$	2,938,559
Interest rate spread (2)						2.48	%						2.56	%
Net interest income and margin (3)				$	21,170	2.95	%				$	20,889	2.94	%
Net interest income and margin (tax equivalent basis)(4)				$	21,714	3.02	%				$	21,392	3.01	%

(1) Loan origination fees are considered an adjustment to interest income. For the purpose of calculating loan yields, average loan balances include

nonaccrual loans with no related interest income.

(2) The interest rate spread is the difference between the average yield on interest earning assets and the average rate paid on interest bearing liabilities.

(3) The net interest margin is equal to net interest income divided by average interest earning assets.

(4) In order to present pre-tax income and resultant yields on tax-exempt investments and loans on a basis comparable to those on taxable investments and

loans, a tax equivalent adjustment is made to interest income. The tax equivalent adjustment has been computed using a Federal income tax rate of 35%,

and has the effect of increasing interest income by $544,000 and $503,000 for the three month periods ended September 30, 2006 and 2005, respectively.

Financial Summary

Average Balances, Yields and Costs

(Unaudited)

	Nine Months Ended September 30, 2006							Nine Months Ended September 30, 2005
(in thousands)	Average Balance			Interest		Average Yield/ Cost		Average Balance			Interest		Average Yield/ Cost
INTEREST EARNING ASSETS:
Interest bearing deposits with banks	$	31,366		$	1,245	5.29	%	$	31,821		$	748	3.13	%
Federal funds sold		14,068			521	4.94			25,651			576	2.99
Securities		809,409			29,787	4.91			859,820			30,328	4.70
Loans (1)		2,002,629			110,790	7.38			1,850,447			92,704	6.68
Total interest earning assets	$	2,857,472		$	142,343	6.64	%	$	2,767,739		$	124,356	5.99	%
NON-INTEREST EARNING ASSETS:
Cash and due from banks	$	34,635						$	31,779
Allowance for loan losses		(23,165	)						(21,280	)
Premises and equipment, net		11,716							10,443
Other assets		78,102							76,663
Total non-interest earning assets		101,288							97,605
Total assets	$	2,958,760						$	2,865,344
INTEREST BEARING LIABILITIES:
Deposits:
Savings, money markets, and interest bearing demand	$	952,150		$	20,182	2.83	%	$	991,206		$	15,082	2.03	%
Certificates of deposit of $100,000 or more		243,014			7,670	4.21			193,123			4,576	3.16
Other time deposits		587,183			19,139	4.35			481,918			11,182	3.09
Total interest bearing deposits		1,782,347			46,991	3.52			1,666,247			30,840	2.47
Borrowed funds		707,701			27,873	5.25			743,801			28,557	5.12
Subordinated debentures		62,892			4,077	8.64			62,892			3,480	7.38
Total interest bearing liabilities	$	2,552,940		$	78,941	4.12	%	$	2,472,940		$	62,877	3.39	%
NON-INTEREST BEARING LIABILITIES:
Demand deposits	$	210,741						$	205,088
Other liabilities		14,255							22,251
Stockholders' equity		180,824							165,065
Total non-interest bearing liabilities and
stockholders' equity	$	405,820						$	392,404
Total liabilities and stockholders' equity	$	2,958,760						$	2,865,344
Interest rate spread (2)						2.52	%						2.60	%
Net interest income and margin (3)				$	63,402	2.96	%				$	61,479	2.96	%
Net interest income and margin (tax equivalent basis)(4)				$	65,016	3.03	%				$	62,940	3.03	%

(1) Loan origination fees are considered an adjustment to interest income. For the purpose of calculating loan yields, average loan balances include

nonaccrual loans with no related interest income.

(2) The interest rate spread is the difference between the average yield on interest earning assets and the average rate paid on interest bearing liabilities.

(3) The net interest margin is equal to net interest income divided by average interest earning assets.

(4) In order to present pre-tax income and resultant yields on tax-exempt investments and loans on a basis comparable to those on taxable investments and loans,

a tax equivalent adjustment is made to interest income. The tax equivalent adjustment has been computed using a Federal income tax rate of 35% and has the

effect of increasing interest income by $1,614,000 and $1,461,000 for the nine month periods ended September 30, 2006 and 2005, respectively.

[ ]	Written communications pursuant to Rule 425 under the Securities Act
[ ]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act
[ ]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
[ ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Exhibit No.	Description
99.1	Press Release dated October 23, 2006.

Exhibit No.	Description
99.1	Press Release dated October 23, 2006.

	YARDVILLE NATIONAL BANCORP
Date: October 26, 2006	By: Stephen F. Carman Stephen F. Carman Vice President and Treasurer