VALLEY NATIONAL BANCORP
S-4, EX-99.1, 2000-10-12
NATIONAL COMMERCIAL BANKS
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                         FORM OF PROXY CARD OF MERCHANTS


                        MERCHANTS NEW YORK BANCORP, INC.

                                      PROXY

                     FOR THE SPECIAL MEETING OF SHAREHOLDERS

                            TuESday, DeCember 5, 2000

                  SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS



      The undersigned hereby appoints  ____________ and ____________ and each of
them, as Proxy,  each with full power of substitution,  to vote all of the stock
of MERCHANTS NEW YORK BANCORP,  INC. standing in the  undersigned's  name at the
Special Meeting of Shareholders of MERCHANTS NEW YORK BANCORP,  INC., to be held
at The  Harmonie  Club,  4 East  60th  Street,  New York,  New York on  Tuesday,
December 5, 2000 at 3:00 p.m., and at any adjournment  thereof.  The undersigned
hereby  revokes  any and all  proxies  heretofore  given  with  respect  to such
meeting.

      This proxy will be voted as specified on the reverse side. If no choice is
specified,  the proxy will be voted FOR approval of the merger of Merchants  New
York Bancorp, Inc. with and into Valley National Bancorp and the adoption of the
merger  agreement.  Shares, if any, held for your account by the trustee for the
dividend  reinvestment  plan  will be voted in the same  manner  as you vote the
shares in your name individually.

      To Vote By Mail

          Please date, sign and mail your proxy card in the envelope provided as
soon as possible.

      To Vote By Telephone (Touch-Tone Phone Only)

      Please call toll-free 1-800-PROXIES and follow the instructions. Have your
control number and the proxy card available when you call.

      To Vote By Internet

      Please access the web page at  www.voteproxy.com  and follow the on-screen
instructions.  Have your control  number and the proxy card  available  when you
access the web page.

                  YOUR CONTROL NUMBER IS [___________________]



                               (see reverse side)


<PAGE>



1.  Approval of the merger of Merchants  New York  Bancorp,  Inc.  with and into
Valley National Bancorp and the adoption of the merger agreement

      /   /  FOR

      /   /  AGAINST

      /   /  ABSTAIN


2. In their discretion,  upon such other matters as may properly come before the
meeting.

                                            Dated:  ________________, 2000

                                            ___________________________
                                            Signature

                                            ___________________________
                                            Print Name

                                            ___________________________
                                            Signature

                                            ___________________________
                                            Print Name

                           (Please  sign  exactly as your name appears
                           on this  proxy  card.  When  signing  as an
                           executor, administrator,  guardian, trustee
                           or  attorney,  please  give  your  title as
                           such.  If a  corporation,  please  sign the
                           full  corporate  name by President or other
                           authorized   officer.   If  a  partnership,
                           please   sign   in   partnership   name  by
                           authorized  person.  If the shares are held
                           in joint  name,  all  joint  owners  should
                           sign.)

                              PLEASE DATE, SIGN AND
                                 RETURN PROMPTLY



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