FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * GOULD ERIC W   2. Issuer Name and Ticker or Trading Symbol VALLEY NATIONAL BANCORP [VLY] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) First Senior Vice President (Last) (First) (Middle) 1455 VALLEY ROAD 3. Date of Earliest Transaction (Month/Day/Year) 09/22/2008 (Street) WAYNE, NJ 07470- 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock (1) 09/22/2008   M   1,005 A $ 18.32 98,966 D   Common Stock (1) 09/22/2008   F   7,680 D $ 24 91,286 D   Common Stock (1) 09/22/2008   M   4,020 A $ 18.32 95,306 D   Common Stock (1) 09/22/2008   M   4,692 A $ 19.66 99,998 D   Common Stock               17,042 I By Trust Common Stock               536 I Custodian For Minor Child Common Stock (401k Plan)               1,367 D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option/NQ

$ 18.32

09/22/2008

M

1,005

11/07/2004

11/07/2011

Common Stock

1,005

$ 0

0

D

Stock Option

$ 18.32

09/22/2008

M

4,020

11/07/2002

11/07/2011

Common Stock

4,020

$ 0

0

D

Stock Option

$ 19.66

09/22/2008

M

4,692

11/18/2003

11/18/2012

Common Stock

4,692

$ 0

0

D

Stock Option

$ 22.92

11/17/2004

11/17/2013

Common Stock

4,468

4,468

D

Stock Option

$ 21.31

11/14/2006

11/14/2015

Common Stock

4,631

4,631

D

Stock Option

$ 23.01

11/16/2005

11/16/2014

Common Stock

4,255

4,255

D

Stock Option

$ 18.15

11/14/2008

11/14/2017

Common Stock

3,360

3,360

D

Stock Option

$ 23.32

11/13/2007

11/13/2016

Common Stock

4,410

4,410

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
GOULD ERIC W 1455 VALLEY ROAD WAYNE, NJ 07470-			First Senior Vice President

Signatures

/s/ ERIC W. GOULD		09/23/2008
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Valley declared a 5% stock dividend on April 7, 2008, payable May 23, 2008 to shareholders of record on May 9, 2008.

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