Valley National Bancorp to Partially Redeem Its VNB Capital Trust I Preferred Securities

Valley National Bancorp VLY the holding company of Valley National Bank, announced that it will deliver a notice of redemption effective January 17, 2012 of principal face amount of $10,000,000 of the outstanding 7 3/4% Trust Preferred Securities issued by VNB Capital Trust I, Valley's subsidiary trust. The Trust Preferred Securities are publicly traded under the ticker symbol "VLYPRA" on the New York Stock Exchange.  From time to time since the call date in November 2006, Valley's Board has granted management authorization to call, all or part of the remaining Trust Preferred Securities for redemption prior to their stated maturity date of December 15, 2031.  Excluding the securities related to the notice of redemption effective in January 2012 described above, Valley has redeemed $40 million of the original $200 million contractual principal balance of the Trust Preferred Securities issued by VNB Capital Trust I.