1. Name and Address of Reporting Person LIPKIN, GERALD H. 1455 VALLEY ROAD WAYNE, NJ 07470- 2. Issuer Name and Ticker or Trading Symbol VALLEY NATIONAL BANCORP (VLY) 3. IRS or Social Security Number of Reporting Person (Voluntary) 4. Statement for Month/Day/Year 03/04/2003 5. If Amendment, Date of Original (Month/Day/Year) 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) (X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other (specify below) CHAIRMAN PRESIDENT AND CEO 7. Individual or Joint/Group Filing (Check Applicable Line) (X) Form filed by One Reporting Person ( ) Form filed by More than One Reporting Person TABLE I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned +------------------------------+----------+----------+---------+--------------------------+--------------+-----------+------------+ |1. Title of Security |2. Trans- |2A.Execu- |3. Trans-|4. Securities Acquired (A)|5. Amount of |6. Owner- |7. Nature | | | action | action | action| or Disposed of (D) |Securities | ship | of In- | | | Date | Date | Code | |Beneficially | Form: | direct | | | | | | |Owned | Direct | Bene- | | | (Month/ | (Month/ | | |Following | (D) or | ficial | | | Day/ | Day/ +-----+---+-----------+---+----------+Reported | Indirect| Owner- | | | Year) | Year) |Code |V |Amount |A/D|Price |Transaction(s)| (I) | ship | +------------------------------+----------+----------+-----+---+-----------+---+----------+--------------+-----------+------------+ Common Stock 02/28/2003 A 6000 A $0.0000 213950 DCommon Stock 62243 I WIFE Common Stock 4818 I IRA/WIFE Common Stock 0 I 11/15/90 RESTRICTED STK. AWARD Common Stock 0 I 3/17/92 REST. STK. AWARD Common Stock 0 I 03/16/93 REST. STK. AWARD Common Stock 0 I 03/16/93 QUALIFIED STK. OPTION Common Stock 0 I 02/15/94 QUALIFIED STK. OPTION Common Stock 0 I 2/15/94 REST. STK. AWARD Common Stock 0 I 02/28/95 NON-QUAL. STK. OPTION Common Stock 0 I 02/28/95 REST. STK. AWARD Common Stock 0 I 01/05/99 NON-QUAL. STK. OPTION Common Stock / IRA 5130 D 401K 889 D Common Stock (with Spouse) 98 D TABLE II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned +----------+--------+-------+-------+---------+-----------+---------------------+----------------+----------+-------+-------+------+ |1. |2. |3. |3A. |4. |5. |6. |7. |8. |9. |10. |11. | | | | | | | | | | |Number |Owner- | | | | | | | | | | | |of |ship | | | | | | | | | | | |Deriv- |Form of| | | | | | | | | |Title and Amount| |ative |Deriv- | | | | | | | | | |of Underlying | |Secur- |ative |Nature| | |Conver- |Trans- |Execu- | |Number of | |Securities | |ities |Secur- |of | | |sion or |action |tion | |Derivative |Date Exercisable +-------+--------+ |Benefi-|ity: |In- | | |Exercise|Date |Date | |Securities |and Expiration Date | |Amount | |cially |Direct |direct| | |Price of| | |Transac- |Acquired(A)|(Month/Day/Year) | |or | |Owned |(D) or |Bene- | |Title of |Deriv- |(Month/|(Month/|tion Code|Disposed(D)+----------+----------+ |Number |Price of | |In- |ficial| |Derivative|ative | Day/ | Day/ +------+--+-----+-----+Date Exer-|Expira- | |of |Derivative| |direct |Owner-| |Security |Security|Year) |Year) |Code |V |(A) |(D) |cisable |tion Date |Title |Shares |Security | |(I) |ship | +----------+--------+-------+-------+------+--+-----+-----+----------+----------+-------+--------+----------+-------+-------+------+ Stock $12 02/20/2006 Common 6250 D Option Stock Stock $15.2 02/18/2007 Common 11460 D Option Stock Stock $17.6 02/12/2010 Common 20673 D Option Stock Stock $20 01/05/2009 Common 4345 D Option Stock Stock $20.8 02/09/2008 Common 27130 D Option Stock Stock $25.65 02/28/2 A 17600 02/28/2004 02/28/2013 Common 17600 $25.6500 17600 D Option 003 Stock Stock $26.7 02/15/2012 Common 1076 D Option Stock Stock $20 01/05/2009 Common 17360 I 01/05/9 Option Stock 9 NON-QUA L. STK. OPTION Stock $20.8 02/09/2008 Common 9045 D Appreciatio Stock n Right STOCK $22.27 02/08/2011 21000 D OPTION/NQ COMMON STK. STOCK $26.7 02/15/2012 Common 18924 D OPTION/NQ Stock Explanation of Responses: SIGNATURE OF REPORTING PERSON /s/ GERALD H. LIPKIN DATE 03/03/2003 Restricted grant under Valley's Stock Option Plan, awarded in five vesting periods beginning one year from date of grant. Granted under Valley's Stock Option Plan, exercisable in five equal installments beginning one year from the grant date.