SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 23, 2000
VALLEY NATIONAL BANCORP
(Exact name of registrant as specified in its charter)
New Jersey
(State of other jurisdiction of incorporation)
0-11179 22-2477875
(Commission File Number) (IRS Employer Identification No.)
1455 Valley Road
Wayne, New Jersey 07470
(Address of principal executive offices)
(973) 305-8800
(Registrant's telephone number, including area code)
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Item 5. Other Events
On May 23, 2000, Valley National Bancorp ("Valley") issued
a press release announcing that the Board of Directors had authorized the
purchase of up to 3,000,000 shares of the company's outstanding common stock.
Purchases may be made from time to time in the open market or in privately
negotiated transactions at prices not exceeding prevailing market rates.
Reacquired shares will be held in treasury and are expected to be used for
employee benefit programs, stock dividends and other corporate purposes.
Item 7. Exhibits
Exhibit 99 Press Release dated May 23, 2000
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INDEX TO EXHIBITS
Exhibit No. Description
99 Press release dated May 23, 2000
Item 7 Exhibit 99
Press release dated May 23, 2000
Valley National Bancorp
1455 Valley Road
Wayne, NJ 07470
Contact:
Alan D. Eskow
Senior Vice President and Controller
(973) 305-4003
VALLEY NATIONAL BANCORP'S BOARD OF DIRECTORS AUTHORIZES THE
REPURCHESE OF UP TO 3,000,000 SHARES
Wayne, New Jersey, May 23, 2000 - Valley National Bancorp (NYSE:VLY) announced
that its Board of Directors has authorized the company to purchase up to
3,000,000 shares of the company's outstanding common stock. Purchases may
be made from time to time in the open market or in privately negotiated
transactions at prices not exceeding prevailing market rates.
This is in addition to the 3,000,000 shares authorized by the Board of
Directors in December 1999, of which Valley has purchased 2.9 million shares.
Valley will complete the initial share repurchase program prior to commencing
with the new share repurchase program.
Valley currently has 60.6 million common shares outstanding. Reacquired
shares will be held in treasury and are expected to be used for employee benefit
programs, stock dividends and other corporate purposes.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
VALLEY NATIONAL BANCORP
Dated: May 31, 2000 By: /s/ Alan D. Eskow
Alan D. Eskow
Principal Accounting Officer
and Corporate Secretary
