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 D
Common 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:
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.
SIGNATURE OF REPORTING PERSON
/s/ GERALD H. LIPKIN
DATE
03/03/2003