Exhibit 99.1

		L. G. ZANGANI, LLC
		(908) 788-9660 Fax: (908) 788-4024
		Nine Main Street, Flemington, NJ 08822
		E-mail: office@zangani.com
		Web site: http://www.zangani.com
For Release:	IMMEDIATELY
Contact:	Patrick M. Ryan, President & CEO	(609) 631-6177
	Stephen F. Carman, VP/Treasurer	(609) 631-6222
	Carl Moebis, LG Zangani LLC	(908) 788-9660

YARDVILLE NATIONAL BANCORP REPORTS THIRD QUARTER EARNINGS

Hamilton, N.J. — October 20, 2003 — Yardville National Bancorp (NASDAQ: YANB) today announced that a lower yield on the investment portfolio and an ongoing need to invest in infrastructure for future growth resulted in reduced earnings for the quarter ended September 30, 2003, when compared to the same period a year ago. YNB’s net income decreased 14.4 percent to $3.2 million from the $3.7 million earned in the same period in 2002. Earnings per share on a diluted basis decreased 31.8 percent to $0.30 compared to $0.44 earned for the first nine months last year.

For the year to date ended September 30, 2003, YNB’s net income decreased 5.7 percent to $10.1 million from the $10.7 million earned in the same period in 2002. Earnings per share on a diluted basis for the first three quarters of 2003 decreased 26.9 percent to $0.95 from the $1.30 per diluted share reported in the same nine months of the prior year. The diluted earnings per share decreases, both for the quarter and year-to-date, are attributable to the greater number of common shares outstanding resulting from last year’s stock offering and the lower net income recorded.

Net interest income growth of 11.7 percent for the first nine months of 2003 was offset by a 19.5 percent increase in non-interest expenses and a 49.9 percent decrease in net securities gains. These resulted in lower net income for the current year-to-date when compared to the same period in the prior year.

“It’s important to understand that the increase in non-interest expenses is essential to build market share in the communities we serve,” explained YNB President and CEO Patrick M. Ryan. “The hiring of skilled bankers as well as investments in our infrastructure will help YNB provide the sophisticated products and services that our customers expect and deserve, and positions us for growth in the future.

“On the other side of the equation,” he continued, “We remain committed to improving our net interest margin, but the third quarter 2003 net interest margin remained unchanged from the second quarter. While the company benefited from ongoing growth in the commercial loan portfolio and a lower cost of funds, those benefits were offset by a lower yield on the investment portfolio in the third quarter. We have taken steps intended to improve the investment portfolio yield, and we believe these will have a positive effect on the net interest margin,” Mr. Ryan concluded.

Two factors that are expected to limit net interest margin growth in the near term are the ongoing low interest rate environment and the recent announcement by the Federal Home Loan Bank of New York that it would eliminate its fourth quarter dividend paid to member banks.

There were several bright spots in this quarter’s performance, however, as YNB experienced significant growth in both loans and deposits. At September 30, 2003, total loans outstanding, led by commercial loans, increased 21.7 percent over the same date a year ago, reaching $1.39 billion compared with $1.14 billion in 2002. Credit quality continues to remain strong, with nonperforming assets as a percentage of total assets increasing to 0.46 percent at September 30, 2003 from 0.36 percent at the same date in 2002. The allowance for loan losses at September 30, 2003 totaled $18.0 million, or 1.30 percent of total loans, covering 178.1 percent of total nonperforming loans.

As YNB continues to build its customer base in both new and traditional markets, deposits increased 16.7 percent to $1.47 billion at September 30, 2003 compared to the same time period in 2002. These deposits help fund YNB’s commercial loan growth. Solidifying its coverage of existing markets, YNB previously announced the purchase of a branch in Lawrence Township, Mercer County that is expected to close before year end.

“Our growth is tied to our ongoing commitment to community banking,” explained YNB Chairman Jay G. Destribats. “This is the base on which YNB was built, and we continue to believe it is our path to success in the future,” he concluded.

At September 30, 2003, the capital ratios for YNB once again exceeded those required by regulatory authorities to be considered well-capitalized. Adding further to that capital strength, YNB recently concluded the private sale of $10 million in floating rate trust preferred securities. In the first three quarters of 2003, YNB paid total cash dividends of $0.345 per share, an increase of 4.5 percent compared to the same period in 2002.

YNB had $2.42 billion in assets as of September 30, 2003, with twenty branches serving individuals and businesses in Mercer, Hunterdon, Burlington, Middlesex and Somerset 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 with an emphasis on commercial real estate and commercial and industrial lending.

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, loan loss reserve adequacy, plans for growth, interest rate sensitivity, market risk, regulatory compliance, and financial and other goals. 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, compliance with laws and regulatory requirements of federal and state agencies, other risks and uncertainties detailed from time to time in our filings with the SEC, as well as other risks and uncertainties detailed from time to time in statements made by our management.

L.G. Zangani, LLC provides financial public relations service to the Company. As such, L.G. Zangani, LLC and/or its officers, agents and employees, receives remuneration for public relations and/or other services performed for the Company. This remuneration may take the form of cash, capital stock in the Company, or warrants and/or options to purchase stock in the Company.

Yardville National Bancorp
Summary of Financial Information
(Unaudited)

				Three Months Ended						Nine Months Ended
				September, 30						September 30,
(in thousands, except per share amounts)				2003			2002			2003			2002
Stock Information:
Weighted average shares outstanding:
	Basic				10,379			8,047			10,390			8,028
	Diluted				10,653			8,325			10,611			8,218
Shares outstanding end of period					10,428			8,053
Earnings per share:
	Basic			$	0.30		$	0.46		$	0.97		$	1.34
	Diluted				0.30			0.44			0.95			1.30
Dividends paid per share					0.115			0.11			0.345			0.33
Book value per share					14.05			13.68
Closing price per share					20.95			16.99
Closing price to book					149.11	%		124.20	%
Key Ratios:
Return on average assets					0.53	%		0.69	%		0.58	%		0.69	%
Return on average stockholders’ equity					8.90			13.77			9.27			14.19
Net interest margin (tax equivalent)					2.37			2.39			2.35			2.37
Equity-to-assets at period end											6.03			5.04
Tier 1 leverage ratio (1)											8.23			6.53
Asset Quality Data:
Net loan charge-offs				$	848		$	233		$	2,011		$	302
Nonperforming assets as a percentage of total assets					0.46	%		0.36	%
Allowance for loan losses at period end as a percent of:
		Total loans			1.30			1.41
		Nonperforming loans			178.12			244.26
Nonperforming assets at period end:
	Nonperforming loans			$	10,125		$	6,618
	Other real estate				917			1,248
			Total nonperforming assets	$	11,042		$	7,866

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

Yardville National Bancorp and Subsidiaries
Consolidated Statements of Income
(Unaudited)

			Three Months Ended				Nine Months Ended
			September 30,				September 30,
(in thousands, except per share amounts)			2003		2002		2003		2002
INTEREST INCOME:
Interest and fees on loans			$	21,942	$	19,294	$	62,906	$	55,205
Interest on deposits with banks				65		14		89		44
Interest on securities available for sale				7,254		10,521		24,257		31,043
Interest on investment securities:
	Taxable			53		120		150		631
	Exempt from Federal income tax			719		590		2,048		1,751
Interest on Federal funds sold				88		296		464		951
	Total Interest Income			30,121		30,835		89,914		89,625
INTEREST EXPENSE:
Interest on savings account deposits				2,776		2,759		8,245		8,486
Interest on certificates of deposit of $100,000 or more				993		1,233		3,090		3,943
Interest on other time deposits				3,525		4,538		11,116		13,469
Interest on borrowed funds				8,924		9,414		26,855		27,050
Interest on trust preferred securities				693		775		2,237		2,325
		Total Interest Expense		16,911		18,719		51,543		55,273
		Net Interest Income		13,210		12,116		38,371		34,352
Less provision for loan losses				1,375		1,300		3,225		2,925
		Net Interest Income After Provision for Loan Losses		11,835		10,816		35,146		31,427
NON-INTEREST INCOME:
Service charges on deposit accounts				592		573		1,711		1,641
Securities gains, net				574		896		1,264		2,522
Income on bank owned life insurance				523		417		1,554		1,260
Other non-interest income				415		326		1,685		1,009
		Total Non-Interest Income		2,104		2,212		6,214		6,432
NON-INTEREST EXPENSE:
Salaries and employee benefits				5,579		4,529		15,823		13,117
Occupancy expense, net				969		888		2,930		2,568
Equipment expense				721		590		2,148		1,735
Other non-interest expense				2,379		1,854		6,560		5,566
		Total Non-Interest Expense		9,648		7,861		27,461		22,986
Income before income tax expense				4,291		5,167		13,899		14,873
Income tax expense				1,129		1,473		3,789		4,152
		Net Income	$	3,162	$	3,694	$	10,110	$	10,721
EARNINGS PER SHARE:
Basic			$	0.30	$	0.46	$	0.97	$	1.34
Diluted				0.30		0.44		0.95		1.30
Weighted average shares outstanding:
Basic				10,379		8,047		10,390		8,028
Diluted				10,653		8,325		10,611		8,218

Yardville National Bancorp and Subsidiaries
Consolidated Statements of Condition
(Unaudited)

			September 30,						Dec. 31,
(in thousands)			2003			2002			2002
Assets:
Cash and due from banks			$	33,066		$	28,916		$	28,608
Federal funds sold				72,865			104,275			72,485
	Cash and Cash Equivalents			105,931			133,191			101,093
Interest bearing deposits with banks				15,589			1,972			2,501
Securities available for sale				777,932			802,665			820,665
Investment securities				65,728			54,174			54,690
Loans				1,392,219			1,143,921			1,195,143
	Less: Allowance for loan losses			(18,035	)		(16,165	)		(16,821	)
	Loans, net			1,374,184			1,127,756			1,178,322
Bank premises and equipment, net				11,880			11,790			12,208
Other real estate				917			1,248			1,048
Bank owned life insurance				42,346			32,955			40,850
Other assets				25,798			17,544			20,081
	Total Assets		$	2,420,305		$	2,183,295		$	2,231,458
Liabilities and Stockholders’ Equity:
Deposits
	Non-interest bearing		$	159,087		$	122,022		$	126,183
	Interest bearing			1,313,424			1,140,045			1,146,103
	Total Deposits			1,472,511			1,262,067			1,272,286
Borrowed funds
	Securities sold under agreements to repurchase			10,000			10,000			10,000
	Federal Home Loan Bank advances			726,000			746,002			746,000
	Obligation for Employee Stock Ownership Plan (ESOP)			855			500			400
	Other			1,058			1,261			1,311
	Total Borrowed Funds			737,913			757,763			757,711
Trust preferred securities				46,000			32,500			32,500
Other liabilities				17,974			20,839			23,022
	Total Liabilities		$	2,274,398		$	2,073,169		$	2,085,519
Stockholders’ equity:
	Common stock: no par value			89,797			54,922			89,297
	Surplus			2,205			2,205			2,205
	Undivided profits			57,153			48,238			50,633
	Treasury stock, at cost			(3,160	)		(3,030	)		(3,154	)
	Unallocated ESOP shares			(855	)		(500	)		(400	)
	Accumulated other comprehensive income			767			8,291			7,358
		Total Stockholders’ Equity		145,907			110,126			145,939
		Total Liabilities and Stockholders’ Equity	$	2,420,305		$	2,183,295		$	2,231,458

Financial Summary
Average Balances, Yields and Costs
(Unaudited)

			Three Months Ended								Three Months Ended
			September 30, 2003								September 30, 2002
								Average								Average
			Average					Yield /			Average					Yield /
(in thousands)			Balance			Interest		Cost			Balance			Interest		Cost
INTEREST EARNING ASSETS:
Deposits with other banks			$	22,162		$	65		1.17	%	$	2,763		$	14		2.03	%
Federal funds sold				36,419			88		0.97			66,629			296		1.78
Securities				868,268			8,026		3.70			909,095			11,231		4.94
Loans (1)				1,362,588			21,942		6.44			1,102,407			19,294		7.00
		Total interest earning assets	$	2,289,437		$	30,121		5.26	%	$	2,080,894		$	30,835		5.93	%
NON-INTEREST EARNING ASSETS:
Cash and due from banks			$	26,477							$	22,346
Allowance for loan losses				(17,658	)							(15,213	)
Premises and equipment, net				12,032								11,310
Other assets				70,624								51,187
		Total non-interest earning assets		91,475								69,630
Total assets			$	2,380,912							$	2,150,524
INTEREST BEARING LIABILITIES:
Deposits:
	Savings, money markets and interest bearing demand		$	705,095		$	2,776		1.57	%	$	480,886		$	2,759		2.29	%
	Certificates of deposit of $100,000 or more			140,469			993		2.83			143,696			1,233		3.43
	Other time deposits			451,928			3,525		3.12			494,196			4,538		3.67
		Total interest bearing deposits		1,297,492			7,294		2.25			1,118,778			8,530		3.05
Borrowed funds				737,685			8,924		4.84			753,875			9,414		4.99
Trust preferred securities				36,344			693		7.63			32,500			775		9.54
		Total interest bearing liabilities	$	2,071,521		$	16,911		3.27	%	$	1,905,153		$	18,719		3.93	%
NON-INTEREST BEARING LIABILITIES:
Demand deposits			$	149,821							$	119,167
Other liabilities				17,436								18,936
Stockholders’ equity				142,134								107,268
		Total non-interest bearing liabilities and stockholders’ equity	$	309,391							$	245,371
Total liabilities and stockholders’ equity			$	2,380,912							$	2,150,524
Interest rate spread (2)									1.99	%							2.00	%
Net interest income and margin (3)						$	13,210		2.31	%				$	12,116		2.33	%
Net interest income and margin (tax equivalent basis)(4)						$	13,586		2.37	%				$	12,429		2.39	%

(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 34% and has the effect of increasing interest income by $376,000 and $313,000 for the three month periods ended September 30, 2003 and 2002, respectively.

Financial Summary
Average Balances, Yields and Costs
(Unaudited)

			Nine Months Ended								Nine Months Ended
			September 30, 2003								September 30, 2002
								Average								Average
			Average					Yield /			Average					Yield /
(in thousands)			Balance			Interest		Cost			Balance			Interest		Cost
INTEREST EARNING ASSETS:
Deposits with other banks			$	9,666		$	89		1.23	%	$	2,947		$	44		1.99	%
Federal funds sold				55,999			464		1.10			76,279			951		1.66
Securities				883,831			26,455		3.99			851,989			33,425		5.23
Loans (1)				1,286,147			62,906		6.52			1,056,545			55,205		6.97
		Total interest earning assets	$	2,235,643		$	89,914		5.36	%	$	1,987,760		$	89,625		6.01	%
NON-INTEREST EARNING ASSETS:
Cash and due from banks			$	25,019							$	22,570
Allowance for loan losses				(17,003	)							(14,270	)
Premises and equipment, net				12,125								11,195
Other assets				66,041								51,298
		Total non-interest earning assets		86,182								70,793
Total assets			$	2,321,825							$	2,058,553
INTEREST BEARING LIABILITIES:
Deposits:
	Savings, money markets and interest bearing demand		$	637,447		$	8,245		1.72	%	$	456,600		$	8,486		2.48	%
	Certificates of deposit of $100,000 or more			139,102			3,090		2.96			147,616			3,943		3.56
	Other time deposits			460,328			11,116		3.22			462,405			13,469		3.88
		Total interest bearing deposits		1,236,877			22,451		2.42			1,066,621			25,898		3.24
Borrowed funds				744,650			26,855		4.81			727,602			27,050		4.96
Trust preferred securities				36,871			2,237		8.09			32,500			2,325		9.54
		Total interest bearing liabilities	$	2,018,398		$	51,543		3.40	%	$	1,826,723		$	55,273		4.03	%
NON-INTEREST BEARING LIABILITIES:
Demand deposits			$	133,923							$	115,046
Other liabilities				24,151								16,029
Stockholders’ equity				145,353								100,755
		Total non-interest bearing liabilities and stockholders’ equity	$	303,427							$	231,830
Total liabilities and stockholders’ equity			$	2,321,825							$	2,058,553
Interest rate spread (2)									1.96	%							1.98	%
Net interest income and margin (3)						$	38,371		2.29	%				$	34,352		2.30	%
Net interest income and margin (tax equivalent basis)(4)						$	39,447		2.35	%				$	35,281		2.37	%

(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 34% and has the effect of increasing interest income by $1,076,000 and $929,000 for the nine month periods ended September 30, 2003 and 2002, respectively.