Ownership Submission
FORM 5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL 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 *
LIPKIN GERALD H
 2. Issuer Name and Ticker or Trading Symbol
VALLEY NATIONAL BANCORP [VLY] 		5. 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
(Last)
(First)
(Middle)

1455 VALLEY ROAD		 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2004
(Street)


WAYNE, NJ 07470-		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Reporting
(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 at end of Issuer's Fiscal Year
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price
Common Stock 04/08/2004   G 650 D $ 0 256,949 D  
Common Stock 12/07/2004   G 1,050 D $ 0 255,899 D  
Common Stock             68,623 I WIFE
Common Stock             5,310 I IRA/WIFE
Common Stock / IRA             5,655 D  
401K             1,412 D  
Common Stock (with Spouse)             107 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 2270 (9-02)

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 at End of Issuer's Fiscal Year
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option $ 15.96           02/12/2001 02/12/2010 Common Stock
22,792
  22,792
D
 
Stock Option $ 18.14           01/05/2000 01/05/2009 Common Stock
4,790
  4,790
D
 
Stock Option $ 18.87           02/09/1999 02/09/2008 Common Stock
23,545
  23,545
D
 
Stock Option $ 23.27           03/01/2004 03/01/2013 Common Stock
19,294
  19,294
D
 
Stock Option $ 24.22           02/15/2002 02/15/2012 Common Stock
1,187
  1,187
D
 
Stock Option $ 26.74           02/26/2005 02/26/2014 Common Stock
21,000
  21,000 (1)
D
 
Stock Option $ 18.14           01/05/2000 01/05/2009 Common Stock
19,139
  19,139
I
01/05/99 NON-QUAL. STK. OPTION
Stock Appreciation Right $ 18.87           02/09/1999 02/09/2008 Common Stock
9,972
  9,972
D
 
STOCK OPTION/NQ $ 20.2           02/08/2001 02/08/2011 COMMON STK.
23,153
  23,153
D
 
STOCK OPTION/NQ $ 24.22           02/15/2003 02/15/2012 Common Stock
20,865
  20,865
D
 

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
LIPKIN GERALD H
1455 VALLEY ROAD
WAYNE, NJ 07470-		   X     CHAIRMAN PRESIDENT AND CEO  

Signatures

GERALD H LIPKIN 02/09/2005
**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) Granted under Valley's Stock Option Plan, exercisable in five equal installments beginning one year from the grant date.

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