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 * CROCITTO PETER P   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) EXECUTIVE VICE PRESIDENT (Last) (First) (Middle) 1455 VALLEY ROAD 3. Date of Earliest Transaction (Month/Day/Year) 10/25/2006 (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 401K 10/25/2006   J(1)   75 A $ 0 2,266 (2) D   COMMON STK.               12,104 D   Common Stock 10/25/2006   G   1,380 D $ 0 83,716 (3) (2) D   Common Stock 10/25/2006   G   2,760 A $ 0 7,580 I CUSTODIAN/CHILD Common Stock 10/25/2006   G   1,380 D $ 0 35,448 I WIFE

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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

$ 15.08

11/18/1998

11/18/2007

Common Stock

21,984

21,984

D

Stock Option

$ 15.36

11/23/2000

11/23/2009

Common Stock

16,753

16,753

D

Stock Option

$ 15.47

10/23/1999

10/23/2008

Common Stock

17,590

17,590

D

Stock Option

$ 17.55

11/28/2001

11/28/2010

Common Stock

17,548

17,548

D

Stock Option

$ 20.7075

11/27/2003

11/27/2011

Common Stock

5,196

5,196

D

Stock Option

$ 21.669

11/18/2003

11/18/2012

Common Stock

14,587

14,587

D

Stock Option

$ 23.5048

11/14/2006

11/14/2015

Common Stock

15,225

15,225

D

Stock Option

$ 25.2698

11/17/2004

11/17/2013

Common Stock

13,892

13,892

D

Stock Option

$ 25.3696

11/16/2005

11/16/2014

Common Stock

13,230

13,230

D

STOCK OPTION/NQ

$ 20.7075

11/27/2002

11/27/2011

Common Stock

11,516

11,516

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
CROCITTO PETER P 1455 VALLEY ROAD WAYNE, NJ 07470-			EXECUTIVE VICE PRESIDENT

Signatures

PETER P CROCITTO		10/27/2006
**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).
(3)	Includes restricted shares granted under VNB 1999 Long Term Stock Incentive Plan, vesting in five equal installments beginning one year from the grant date.
(1)	Balance adjustment representing life to date employer Valley stock match
(2)	Valley declared a 5% stock dividend on April 5, 2006, payable May 22, 2006 to shareholders of record on May 8, 2006.

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