Exhibit 99.1

YARDVILLE NATIONAL BANCORP ANNOUNCES FOURTH QUARTER AND 2003 RESULTS

     Hamilton, N.J.- January 26, 2004- Yardville National Bancorp (NASDAQ:YANB) today announced significantly lower earnings for the quarter ended December 31, 2003 when compared to the same period a year ago, primarily due to charge-offs associated with two loan relationships. As a result, YNB’s net income decreased to $199,000 from the $3.3 million earned in the same period in 2002. Earnings per share on a diluted basis declined to $0.02 compared to $0.38 for the three months ended December 31, 2002.

     In the last quarter of 2003, YNB charged off approximately $4.7 million of a $10.2 million commercial loan relationship, after the borrower advised YNB during the quarter that the company had determined to cease operations. As previously disclosed, YNB did not expect recovery of the entire loan relationship, but at this time does not anticipate additional material charge-offs related to it. In addition, approximately $2.0 million of an $8.6 million commercial loan relationship to another borrower was charged off in the fourth quarter of 2003. YNB continues to work closely with the borrower to reach a resolution, but the ultimate collectibility of the balance cannot be determined at this time. The resultant provision for loan losses of $6.1 million for the fourth quarter of 2003, primarily from these two loan relationships, negatively impacted the fourth quarter and earnings for the full year. Overall credit quality, however, has remained relatively strong, with nonperforming assets of $10.6 million, or 0.44 percent of total assets at December 31, 2003 compared to $7.3 million, or 0.33 percent of total assets at the same date in 2002. The allowance for loan losses at December 31, 2003 totaled $17.3 million, or 1.20 percent of total loans, covering 162.5 percent of total nonperforming loans.

     “While we are disappointed in our fourth quarter and full year earnings,” stated YNB President and CEO Patrick M. Ryan, “our overall asset quality trends, absent the previously mentioned loan relationships, have remained positive. We will continue our policies of strict loan underwriting standards and anticipate a return to our traditional loan quality performance in 2004,” he added.

     YNB did experience net interest income growth of $6.7 million in 2003, primarily due to the continued strong growth in commercial lending and a lower cost of funds. Offsetting the improvement in net interest income, however, was a $5.0 million increase in the provision for loan losses, a $7.1 million increase in non-interest expenses, and a $1.6 million decline in net securities gains. The combination of these factors resulted in lower net income for 2003.

     Net income for 2003 decreased $3.7 million to $10.3 million, a 26.4 percent decline from the $14.0 million reported in 2002. Diluted earnings per share decreased 42.3 percent to $0.97 in 2003 from $1.68 in the prior year. The diluted earnings per share decreases, both for the quarter and year, were attributable to both lower net income as noted above and to the greater number of weighted average common shares outstanding resulting from the December 2002 stock offering.

     “The rise in non-interest expenses is, in part, due to the ongoing implementation of our retail strategy, designed to ultimately lower our cost of funds and enhance the value of our franchise. Another factor contributing to the increase is the much stricter regulatory environment in which we must function,” Mr. Ryan explained. “We must, therefore, further improve the top-line, or revenue stream, in order to absorb these costs and continue to grow as a supercommunity bank,” he said.

     “During 2003, we took actions to improve our net interest margin for 2004,” continued Mr. Ryan. “Ongoing quality commercial loan growth, the improvement in our investment portfolio yield, and a lower cost of funds should have a positive impact on net interest income as we enter the new year,” he added.

     YNB also maintained its outstanding growth trend in both loans and deposits for the year ended December 31, 2003. Total loans, led by commercial loans, increased 20.8 percent to $1.44 billion compared with $1.20 billion at the end of 2002. Total deposits at December 31, 2003 increased to $1.48 billion from $1.27 billion a year ago.

     “We remain focused on expanding and enhancing our franchise as well as positioning YNB for the future, and our retail strategy is an important part of our growth plans,” further noted Mr. Ryan. “In 2003 we successfully marketed our concept of ‘Banking on a More Personal Level,’ and attracted new deposits in new markets with the promotion of our ‘Simply Better Checking’ product. Increasing our retail presence has further enhanced the value of YNB, and we have targeted additional branch locations for expansion in the future,” he concluded.

     During 2003, YNB opened three new branches, including its first branch in Somerset County, New Jersey in the second quarter. In December, YNB completed the first branch acquisition in its history by acquiring the Lawrence branch of First Savings Bank, a subsidiary of First Sentinel Bancorp, Inc. further expanding the bank’s retail network in Mercer County. YNB completed 2003 by opening its second branch in Somerset County – its twenty-second overall – in Hillsborough in the last week of December.

     YNB maintained its solid capital foundation in 2003, as all capital ratios exceeded those required by regulatory authorities to be considered well-capitalized. Shareholders were also rewarded in 2003, as YNB paid cash dividends totaling $0.46, an increase of 4.5 percent from cash dividends of $0.44 paid in 2002.

     “With 2003 behind us we are confident about our prospects for success in 2004,” said Stephen F. Carman, YNB Executive Vice President and CFO. “We expect the pace of our earnings growth to substantially increase due to our projected commercial loan growth, an anticipated lower cost of funds, and controlled growth of non-interest expenses,” he added. “Further, our balance sheet is positioned to take advantage of gradually increasing interest rates. Finally, based on current internal financial models, we are projecting loans to grow 15 to 20 percent this year, our net interest margin to reach 3.00 percent by the end of 2004, our efficiency ratio to be less than 60 percent, and net income to grow by 25 to 30 percent based on our year-end 2002 earnings of $14.0 million,” he concluded.

     With $2.43 billion in assets as of December 31, 2003, YNB serves individuals and small-to mid-sized businesses in the dynamic New York City-Philadelphia corridor through a network of 22 branches in Mercer, Hunterdon, Somerset, Middlesex and Burlington counties in New Jersey and Bucks County in Pennsylvania. Headquartered in Mercer County, YNB emphasizes commercial lending and offers a broad range of lending, deposit and other financial products and services.

Yardville National Bancorp
Summary of Financial Information
(Unaudited)

				Three Months Ended						Years Ended
				December, 31						December 31,
(in thousands, except per share amounts)				2003			2002			2003			2002
Stock Information:
Weighted average shares outstanding:
	Basic				10,395			8,409			10,391			8,124
	Diluted				10,748			8,621			10,652			8,319
Shares outstanding end of period					10,439			10,396
Earnings per share:
	Basic			$	0.02		$	0.39		$	0.99		$	1.72
	Diluted				0.02			0.38			0.97			1.68
Dividends paid per share					0.115			0.11			0.46			0.44
Book value per share					13.80			14.08
Tangible book value per share					13.61			14.08
Closing price per share					25.74			17.24
Closing price to tangible book value					189.13	%		122.44	%
Key Ratios:
Return on average assets					0.03	%		0.60	%		0.44	%		0.67	%
Return on average stockholders’ equity					0.55			11.50			7.09			13.45
Net interest margin (tax equivalent)					2.60			2.33			2.42			2.36
Equity-to-assets at period end					5.91			6.54
Tier 1 leverage ratio (1)					8.04			8.16
Asset Quality Data:
Net loan charge-offs				$	6,875		$	794		$	8,886		$	1,096
Nonperforming assets as a percentage of total assets					0.44	%		0.33	%
Allowance for loan losses at period end as a percent of:
		Total loans			1.20			1.41
		Nonperforming loans			162.55			268.11
Nonperforming assets at period end:
	Nonperforming loans			$	10,640		$	6,274
	Other real estate				—			1,048
			Total nonperforming assets	$	10,640		$	7,322

(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					Years Ended
			December 31,					December 31,
(in thousands, except per share amounts)			2003			2002		2003		2002
INTEREST INCOME:
Interest and fees on loans			$	22,623		$	20,190	$	85,529	$	75,395
Interest on deposits with banks				32			16		121		60
Interest on securities available for sale				7,956			9,455		32,213		40,498
Interest on investment securities:
	Taxable			42			59		192		690
	Exempt from Federal income tax			748			594		2,796		2,345
Interest on Federal funds sold				59			206		523		1,157
	Total Interest Income			31,460			30,520		121,374		120,145
INTEREST EXPENSE:
Interest on savings account deposits				2,589			2,742		10,834		11,228
Interest on certificates of deposit of $100,000 or more				924			1,241		4,014		5,184
Interest on other time deposits				3,405			4,278		14,521		17,747
Interest on borrowed funds				8,944			9,353		35,799		36,403
Interest on subordinated debentures				789			775		3,026		3,100
		Total Interest Expense		16,651			18,389		68,194		73,662
		Net Interest Income		14,809			12,131		53,180		46,483
Less provision for loan losses				6,135			1,450		9,360		4,375
		Net Interest Income After Provision for Loan Losses		8,674			10,681		43,820		42,108
NON-INTEREST INCOME:
Service charges on deposit accounts				677			562		2,388		2,203
Securities gains, net				249			562		1,513		3,084
Income on bank owned life insurance				482			418		2,036		1,678
Other non-interest income				472			330		2,157		1,339
		Total Non-Interest Income		1,880			1,872		8,094		8,304
NON-INTEREST EXPENSE:
Salaries and employee benefits				5,610			4,773		21,433		17,890
Occupancy expense, net				1,004			939		3,934		3,507
Equipment expense				807			688		2,955		2,423
Other non-interest expense				3,277			1,658		9,837		7,224
		Total Non-Interest Expense		10,698			8,058		38,159		31,044
Income (loss) before income tax (benefit) expense				(144	)		4,495		13,755		19,368
Income tax (benefit) expense				(343	)		1,212		3,446		5,364
		Net Income	$	199		$	3,283	$	10,309	$	14,004
EARNINGS PER SHARE:
Basic			$	0.02		$	0.39	$	0.99	$	1.72
Diluted				0.02			0.38		0.97		1.68
Weighted average shares outstanding:
Basic				10,395			8,409		10,391		8,124
Diluted				10,748			8,621		10,652		8,319

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

			December 31,
(in thousands)			2003			2002
Assets:
Cash and due from banks			$	25,785		$	28,608
Federal funds sold				7,370			72,485
	Cash and Cash Equivalents			33,155			101,093
Interest bearing deposits with banks				20,552			2,501
Securities available for sale				796,579			820,665
Investment securities				68,686			54,690
Loans				1,443,355			1,195,143
	Less: Allowance for loan losses			(17,295	)		(16,821	)
	Loans, net			1,426,060			1,178,322
Bank premises and equipment, net				12,307			12,208
Other real estate				—			1,048
Bank owned life insurance				42,816			40,850
Other assets				29,610			20,081
	Total Assets		$	2,429,765		$	2,231,458
Liabilities and Stockholders’ Equity:
Deposits
	Non-interest bearing		$	163,812		$	126,183
	Interest bearing			1,319,997			1,146,103
	Total Deposits			1,483,809			1,272,286
Borrowed funds
	Securities sold under agreements to repurchase			10,000			10,000
	Federal Home Loan Bank advances			726,000			746,000
	Obligation for Employee Stock Ownership Plan (ESOP)			755			400
	Other			1,325			1,311
	Total Borrowed Funds			738,080			757,711
Subordinated debentures				46,000			32,500
Other liabilities				18,319			23,022
	Total Liabilities		$	2,286,208		$	2,085,519
Stockholders’ equity:
	Common stock: no par value			90,079			89,297
	Surplus			2,205			2,205
	Undivided profits			56,152			50,633
	Treasury stock, at cost			(3,160	)		(3,154	)
	Unallocated ESOP shares			(755	)		(400	)
	Accumulated other comprehensive (loss) income			(964	)		7,358
		Total Stockholders’ Equity		143,557			145,939
		Total Liabilities and Stockholders’ Equity	$	2,429,765		$	2,231,458

Financial Summary
Average Balances, Yields and Costs
(Unaudited)

			Three Months Ended								Three Months Ended
			December 31, 2003								December 31, 2002
								Average								Average
			Average					Yield /			Average					Yield /
(in thousands)			Balance			Interest		Cost			Balance			Interest		Cost
INTEREST EARNING ASSETS:
Deposits with other banks			$	12,535		$	32		1.02	%	$	2,707		$	16		2.36	%
Federal funds sold				24,413			59		0.97			59,583			206		1.38
Securities				858,333			8,746		4.08			901,554			10,108		4.48
Loans (1)				1,434,531			22,623		6.31			1,171,590			20,190		6.89
		Total interest earning assets	$	2,329,812		$	31,460		5.40	%	$	2,135,434		$	30,520		5.72	%
NON-INTEREST EARNING ASSETS:
Cash and due from banks			$	26,656							$	24,149
Allowance for loan losses				(17,231	)							(16,274	)
Premises and equipment, net				11,967								11,867
Other assets				69,892								50,897
		Total non-interest earning assets		91,284								70,639
Total assets			$	2,421,096							$	2,206,073
INTEREST BEARING LIABILITIES:
Deposits:
	Savings, money markets and interest bearing demand		$	736,706		$	2,589		1.41	%	$	510,137		$	2,742		2.15	%
	Certificates of deposit of $100,000 or more			131,367			924		2.81			149,628			1,241		3.32
	Other time deposits			449,885			3,405		3.03			492,220			4,278		3.48
		Total interest bearing deposits		1,317,958			6,918		2.10			1,151,985			8,261		2.87
Borrowed funds				737,558			8,944		4.85			758,000			9,353		4.94
Subordinated debentures				46,000			789		6.86			32,500			775		9.54
		Total interest bearing liabilities	$	2,101,516		$	16,651		3.17	%	$	1,942,485		$	18,389		3.79	%
NON-INTEREST BEARING LIABILITIES:
Demand deposits			$	155,561							$	127,479
Other liabilities				18,458								21,882
Stockholders’ equity				145,561								114,227
		Total non-interest bearing liabilities and stockholders’ equity	$	319,580							$	263,588
Total liabilities and stockholders’ equity			$	2,421,096							$	2,206,073
Interest rate spread (2)									2.23	%							1.93	%
Net interest income and margin (3)						$	14,809		2.54	%				$	12,131		2.27	%
Net interest income and margin (tax equivalent basis)(4)						$	15,153		2.60	%				$	12,447		2.33	%

(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 $344,000 and $316,000 for the three month periods ended December 31, 2003 and 2002, respectively.

Financial Summary
Average Balances, Yields and Costs
(Unaudited)

			Year Ended								Year Ended
			December 31, 2003								December 31, 2002
								Average								Average
			Average					Yield /			Average					Yield /
(in thousands)			Balance			Interest		Cost			Balance			Interest		Cost
INTEREST EARNING ASSETS:
Deposits with other banks			$	10,383		$	121		1.17	%	$	2,887		$	60		2.08	%
Federal funds sold				48,102			523		1.09			72,790			1,157		1.59
Securities				877,456			35,201		4.01			863,695			43,533		5.04
Loans (1)				1,323,243			85,529		6.46			1,085,306			75,395		6.95
		Total interest earning assets	$	2,259,184		$	121,374		5.37	%	$	2,024,678		$	120,145		5.93	%
NON-INTEREST EARNING ASSETS:
Cash and due from banks			$	25,428							$	22,965
Allowance for loan losses				(17,060	)							(14,771	)
Premises and equipment, net				12,085								11,363
Other assets				67,005								51,198
		Total non-interest earning assets		87,458								70,755
Total assets			$	2,346,642							$	2,095,433
INTEREST BEARING LIABILITIES:
Deposits:
	Savings, money markets and interest bearing demand		$	662,262		$	10,834		1.64	%	$	469,985		$	11,228		2.39	%
	Certificates of deposit of $100,000 or more			137,168			4,014		2.93			148,119			5,184		3.50
	Other time deposits			457,717			14,521		3.17			469,858			17,747		3.78
		Total interest bearing deposits		1,257,147			29,369		2.34			1,087,962			34,159		3.14
Borrowed funds				742,877			35,799		4.82			735,201			36,403		4.95
Subordinated debentures				39,153			3,026		7.73			32,500			3,100		9.54
		Total interest bearing liabilities	$	2,039,177		$	68,194		3.34	%	$	1,855,663		$	73,662		3.97	%
NON-INTEREST BEARING LIABILITIES:
Demand deposits			$	139,332							$	118,154
Other liabilities				22,728								17,493
Stockholders’ equity				145,405								104,123
		Total non-interest bearing liabilities and stockholders’ equity	$	307,465							$	239,770
Total liabilities and stockholders’ equity			$	2,346,642							$	2,095,433
Interest rate spread (2)									2.03	%							1.96	%
Net interest income and margin (3)						$	53,180		2.35	%				$	46,483		2.30	%
Net interest income and margin (tax equivalent basis)(4)						$	54,599		2.42	%				$	47,728		2.36	%

(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 $1,419,000 and $1,245,000 for the years ended December 31, 2003 and 2002, respectively.