CONSENT OF SANDLER O'NEILL & PARTNERS L.P.
We hereby consent to the inclusion of our opinion letter to the Board
of Directors of Valley National Bancorp (the "Company") as Appendix D to the
Joint Proxy Statement/Prospectus relating to the proposed merger of Merchants
New York Bancorp with and into the Company contained in the Registration
Statement on Form S-4 as filed with the Securities and Exchange Commission on
the date hereof, and to the references to our firm and such opinion in such
Joint Proxy Statement/Prospectus. In giving such consent, we do not admit that
we come within the category of persons whose consent is required under Section 7
of the Securities Act of 1933, as amended (the "Act"), or the rules and
regulations of the Securities and Exchange Commission thereunder (the
"Regulations"), nor do we admit that we are experts with respect to any part of
such Registration Statement within the meaning of the term "experts" as used in
the Act or the Regulations.
SANDLER O'NEILL & PARTNERS L.P.
October 30, 2000