Exhibit 99.1

For Release:            IMMEDIATELY

Contact:	Stephen F. Carman, EVP/CFO	(609) 631-6222
	For further information see Investor Relations on YNB’s website: www.ynb.com

YARDVILLE NATIONAL BANCORP REPORTS RECORD THIRD QUARTER EARNINGS

Hamilton, N.J.- October 20, 2004- Yardville National Bancorp (NASDAQ: YANB) today announced the continuation of double digit earnings increases for the quarter ended September 30, 2004 compared to the same period a year ago. YNB’s net income was up 72.3 percent to $5.4 million from the $3.2 million earned in the same period in 2003, and earnings per share on a diluted basis increased 66.7 percent to $0.50 compared to $0.30 earned for the third quarter of last year.

For the nine months ended September 30, 2004, YNB’s net income increased 36.4 percent to $13.8 million from the $10.1 million earned in the same period in 2003. Earnings per share on a diluted basis for the first three quarters of 2004 increased 33.7 percent to $1.27 from the $0.95 per diluted share reported in the same nine months of the prior year. The improvement in financial performance for the quarterly and year-to-date comparative periods is reflective of an expanding net interest margin, that has resulted in increasing levels of net interest income, partially offset by higher non-interest expenses and a higher provision for loan losses.

“We’re beginning to see measurable results from our retail banking strategy,” said YNB President and CEO Patrick M. Ryan. “Supporting our marketing efforts with a dynamic advertising campaign and offering competitive retail banking products and services have all contributed,” he noted. “In particular, our ‘Simply Better CheckingSM’ product has been instrumental in attracting core deposits.”

Deposits increased 20.6 percent to $1.78 billion at September 30, 2004 compared to the same period in 2003. These deposits helped to fund YNB’s commercial loan growth while improving the net interest margin.

“A number of proposed new branch offices will also have a role to play in YNB’s future profitability,” added F. Kevin Tylus, YNB’s recently-named Senior Executive Vice President and Chief Administrative Officer. “Approval has already been received for an additional YNB branch at Pennington Pointe West in Hopewell Township, and that branch is expected to open in the first quarter of 2005,” he noted. “In the second and third quarters of 2005, YNB is developing plans to open branch offices in West Windsor, Mercer County, and in Readington, Hunterdon County — both high-growth communities where YNB already has a significant retail and business customer base. We remain on the lookout for additional opportunities to expand our branch network in our targeted markets,” he concluded.

The supercommunity bank’s growth in contiguous markets will also continue in Pennsylvania, with plans to open a branch in Morrisville, Bucks County, directly across the Delaware River from YNB’s existing Mercer County hub, in the second quarter of 2005. The bank already has an office in Bucks County, in Newtown, Pa. YNB will continue its branch expansion with its

first office in Washington Township, which adjoins YNB’s Hamilton Township home base. The branch, in the newly-developed Washington Town Center, is scheduled to open at the end of 2005 or beginning of 2006.

YNB also experienced significant growth in its loan portfolio again this quarter. At September 30, 2004, total loans outstanding, led by commercial loans, increased 22.3 percent over the same date a year ago, reaching $1.70 billion compared with $1.39 billion at the same date in 2003. Credit quality continues to remain strong, with nonperforming assets as a percentage of total assets decreasing to 0.34 percent at September 30, 2004 from 0.46 percent at the same date in 2003. The allowance for loan losses at September 30, 2004 totaled $19.6 million, or 1.15 percent of total loans, covering 208.8 percent of total nonperforming loans. Through the first nine months of 2004, YNB provided $6.8 million for possible loan losses, primarily due to an increased level of net loan charge offs and the strong commercial loan growth experienced.

YNB’s Executive Vice President and Chief Financial Officer Stephen F. Carman noted a 33.5 percent increase in net interest income for 2004. “We are confident we will achieve our net income goal for 2004,” he commented. “Our net interest margin, on a tax equivalent basis, increased to 2.89 percent in the third quarter and we expect to close in on our 3.00 percent net interest margin goal by the end of the year,” he added. “As we look forward, we are also expecting credit quality trends to show continued improvement, and we believe we are well positioned to benefit from the current or a gradually increasing interest rate environment,” Mr. Carman concluded.

At September 30, 2004, the capital ratios for YNB once again exceeded those required by regulatory authorities to be considered well-capitalized. In the first three quarters of 2004, YNB paid total cash dividends of $0.345 per share.

YNB had $2.76 billion in assets as of September 30, 2004, with 22 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)	2004			2003			2004			2003
Stock Information:
Weighted average shares outstanding:
Basic		10,464			10,379			10,445			10,390
Diluted		10,842			10,653			10,847			10,611
Shares outstanding end of period		10,492			10,428
Earnings per share:
Basic	$	0.52		$	0.30		$	1.32		$	0.97
Diluted		0.50			0.30			1.27			0.95
Dividends paid per share		0.115			0.115			0.345			0.345
Book value per share		14.84			14.05
Tangible book value per share		14.66			14.05
Closing price per share		29.10			20.95
Closing price to tangible book value		198.50	%		149.11	%
Key Ratios:
Return on average assets		0.80	%		0.53	%		0.70	%		0.58	%
Return on average stockholders’ equity		14.57			8.90			12.52			9.27
Net interest margin (tax equivalent) (1)		2.89			2.37			2.78			2.35
Equity-to-assets at period end								5.64			6.03
Tier 1 leverage ratio (2)								7.90			8.23
Asset Quality Data:
Net loan charge-offs	$	1,363		$	848		$	4,539		$	2,011
Nonperforming assets as a percentage of total assets		0.34	%		0.46	%
Allowance for loan losses at period end as a percent of:
Total loans		1.15			1.30
Nonperforming loans		208.82			178.12
Nonperforming assets at period end:
Nonperforming loans	$	9,377		$	10,125
Other real estate		—			917
Total nonperforming assets	$	9,377		$	11,042

(1)  Tax equivalent net interest margin includes an adjustment to present income and yields on tax exempt earning assets on a comparable basis to those of taxable earning assets.

(2)  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)	2004		2003		2004		2003
INTEREST INCOME:
Interest and fees on loans	$	25,754	$	21,942	$	73,002	$	62,906
Interest on deposits with banks		95		65		205		89
Interest on securities available for sale		9,262		7,276		26,058		24,327
Interest on investment securities:
Taxable		29		53		104		150
Exempt from Federal income tax		806		719		2,370		2,048
Interest on Federal funds sold		102		88		228		464
Total Interest Income		36,048		30,143		101,967		89,984
INTEREST EXPENSE:
Interest on savings account deposits		3,502		2,776		9,054		8,245
Interest on certificates of deposit of $100,000 or more		1,063		993		3,020		3,090
Interest on other time deposits		2,879		3,525		9,172		11,116
Interest on borrowed funds		9,081		8,924		26,834		26,855
Interest on subordinated debentures		1,004		715		2,654		2,307
Total Interest Expense		17,529		16,933		50,734		51,613
Net Interest Income		18,519		13,210		51,233		38,371
Less provision for loan losses		2,400		1,375		6,825		3,225
Net Interest Income After Provision for Loan Losses		16,119		11,835		44,408		35,146
NON-INTEREST INCOME:
Service charges on deposit accounts		750		592		2,400		1,711
Securities gains, net		618		574		1,204		1,264
Income on bank owned life insurance		480		523		1,457		1,554
Other non-interest income		448		415		1,325		1,685
Total Non-Interest Income		2,296		2,104		6,386		6,214
NON-INTEREST EXPENSE:
Salaries and employee benefits		6,169		5,579		17,644		15,823
Occupancy expense, net		1,072		969		3,239		2,930
Equipment expense		749		721		2,359		2,148
Other non-interest expense		2,632		2,379		8,250		6,560
Total Non-Interest Expense		10,622		9,648		31,492		27,461
Income before income tax expense		7,793		4,291		19,302		13,899
Income tax expense		2,344		1,129		5,513		3,789
Net Income	$	5,449	$	3,162	$	13,789	$	10,110
EARNINGS PER SHARE:
Basic	$	0.52	$	0.30	$	1.32	$	0.97
Diluted		0.50		0.30		1.27		0.95
Weighted average shares outstanding:
Basic		10,464		10,379		10,445		10,390
Diluted		10,842		10,653		10,847		10,611

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

	September 30,						Dec. 31,
(in thousands)	2004			2003			2003
Assets:
Cash and due from banks	$	25,784		$	33,066		$	25,785
Federal funds sold		11,775			72,865			7,370
Cash and Cash Equivalents		37,559			105,931			33,155
Interest bearing deposits with banks		45,712			15,589			20,552
Securities available for sale		830,430			779,360			798,007
Investment securities		74,684			65,728			68,686
Loans		1,702,610			1,392,219			1,443,355
Less: Allowance for loan losses		(19,581	)		(18,035	)		(17,295	)
Loans, net		1,683,029			1,374,184			1,426,060
Bank premises and equipment, net		10,574			11,880			12,307
Other real estate		—			917			—
Bank owned life insurance		44,221			42,346			42,816
Other assets		29,401			25,798			29,610
Total Assets	$	2,755,610		$	2,421,733		$	2,431,193
Liabilities and Stockholders’ Equity:
Deposits
Non-interest bearing	$	202,975		$	159,087		$	163,812
Interest bearing		1,573,488			1,313,424			1,319,997
Total Deposits		1,776,463			1,472,511			1,483,809
Borrowed funds
Securities sold under agreements to repurchase		10,000			10,000			10,000
Federal Home Loan Bank advances		726,000			726,000			726,000
Obligation for Employee Stock Ownership Plan (ESOP)		472			855			755
Other		978			1,058			1,325
Total Borrowed Funds		737,450			737,913			738,080
Subordinated debentures		62,892			47,428			47,428
Other liabilities		23,403			17,974			18,319
Total Liabilities	$	2,600,208		$	2,275,826		$	2,287,636
Stockholders’ equity:
Common stock: no par value		91,105			89,797			90,079
Surplus		2,205			2,205			2,205
Undivided profits		66,332			57,153			56,152
Treasury stock, at cost		(3,160	)		(3,160	)		(3,160	)
Unallocated ESOP shares		(472	)		(855	)		(755	)
Accumulated other comprehensive (loss) income		(608	)		767			(964	)
Total Stockholders’ Equity		155,402			145,907			143,557
Total Liabilities and Stockholders’ Equity	$	2,755,610		$	2,421,733		$	2,431,193

Financial Summary
Average Balances, Yields and Costs
(Unaudited)

	Three Months Ended								Three Months Ended
	September 30, 2004								September 30, 2003
						Average								Average
	Average					Yield /			Average					Yield /
(in thousands)	Balance			Interest		Cost			Balance			Interest		Cost
INTEREST EARNING ASSETS:
Interest bearing deposits with banks	$	25,070		$	95		1.52	%	$	22,162		$	65		1.17	%
Federal funds sold		29,295			102		1.39			36,419			88		0.97
Securities		899,156			10,097		4.49			869,396			8,048		3.70
Loans (1)		1,672,321			25,754		6.16			1,362,588			21,942		6.44
Total interest earning assets	$	2,625,842		$	36,048		5.49	%	$	2,290,565		$	30,143		5.26	%
NON-INTEREST EARNING ASSETS:
Cash and due from banks	$	29,277							$	26,477
Allowance for loan losses		(19,193	)							(17,658	)
Premises and equipment, net		10,808								12,032
Other assets		72,734								70,624
Total non-interest earning assets		93,626								91,475
Total assets	$	2,719,468							$	2,382,040
INTEREST BEARING LIABILITIES:
Deposits:
Savings, money markets, and interest bearing demand	$	927,276		$	3,502		1.51	%	$	705,095		$	2,776		1.57	%
Certificates of deposit of $100,000 or more		164,437			1,063		2.59			140,469			993		2.83
Other time deposits		460,936			2,879		2.50			451,928			3,525		3.12
Total interest bearing deposits		1,552,649			7,444		1.92			1,297,492			7,294		2.25
Borrowed funds		740,418			9,081		4.91			737,685			8,924		4.84
Subordinated debentures		62,892			1,004		6.39			37,472			715		7.63
Total interest bearing liabilities	$	2,355,959		$	17,529		2.98	%	$	2,072,649		$	16,933		3.27	%
NON-INTEREST BEARING LIABILITIES:
Demand deposits	$	193,957							$	149,821
Other liabilities		20,002								17,436
Stockholders’ equity		149,550								142,134
Total non-interest bearing liabilities and stockholders’ equity	$	363,509							$	309,391
Total liabilities and stockholders’ equity	$	2,719,468							$	2,382,040
Interest rate spread (2)							2.51	%							1.99	%
Net interest income and margin (3)				$	18,519		2.82	%				$	13,210		2.31	%
Net interest income and margin (tax equivalent basis)(4)				$	18,972		2.89	%				$	13,586		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 35% in 2004 and 34% in 2003 and has the the effect of increasing interest income by $453,000 and $376,000 for the three month periods ended September 30, 2004 and 2003, respectively.

Financial Summary
Average Balances, Yields and Costs
(Unaudited)

	Nine Months Ended								Nine Months Ended
	September 30, 2004								September 30, 2003
						Average								Average
	Average					Yield /			Average					Yield /
(in thousands)	Balance			Interest		Cost			Balance			Interest		Cost
INTEREST EARNING ASSETS:
Interest bearing deposits with banks	$	23,538		$	205		1.16	%	$	9,666		$	89		1.23	%
Federal funds sold		26,974			228		1.13			55,999			464		1.10
Securities		875,480			28,532		4.35			884,978			26,525		4.00
Loans (1)		1,589,647			73,002		6.12			1,286,147			62,906		6.52
Total interest earning assets	$	2,515,639		$	101,967		5.40	%	$	2,236,790		$	89,984		5.36	%
NON-INTEREST EARNING ASSETS:
Cash and due from banks	$	28,147							$	25,019
Allowance for loan losses		(18,446	)							(17,003	)
Premises and equipment, net		11,434								12,125
Other assets		73,038								66,041
Total non-interest earning assets		94,173								86,182
Total assets	$	2,609,812							$	2,322,972
INTEREST BEARING LIABILITIES:
Deposits:
Savings, money markets, and interest bearing demand	$	856,543		$	9,054		1.41	%	$	637,447		$	8,245		1.72	%
Certificates of deposit of $100,000 or more		157,881			3,020		2.55			139,102			3,090		2.96
Other time deposits		456,262			9,172		2.68			460,328			11,116		3.22
Total interest bearing deposits		1,470,686			21,246		1.93			1,236,877			22,451		2.42
Borrowed funds		738,439			26,834		4.85			744,650			26,855		4.81
Subordinated debentures		53,327			2,654		6.64			38,018			2,307		8.09
Total interest bearing liabilities	$	2,262,452		$	50,734		2.99	%	$	2,019,545		$	51,613		3.41	%
NON-INTEREST BEARING LIABILITIES:
Demand deposits	$	179,887							$	133,923
Other liabilities		20,595								24,151
Stockholders’ equity		146,878								145,353
Total non-interest bearing liabilities and stockholders’ equity	$	347,360							$	303,427
Total liabilities and stockholders’ equity	$	2,609,812							$	2,322,972
Interest rate spread (2)							2.41	%							1.95	%
Net interest income and margin (3)				$	51,233		2.72	%				$	38,371		2.29	%
Net interest income and margin (tax equivalent basis)(4)				$	52,488		2.78	%				$	39,447		2.35	%

(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% in 2004 and 34% in 2003 and has the the effect of increasing interest income by $1,255,000 and $1,076,000 for the nine month periods ended September 30, 2004 and 2003, respectively.