Valley National Bancorp (VLY) 8-K The foregoing contains forward-looking statements within the meaning of the Private Securities Litigation

Investor Presentation

EXHIBIT 99.1

2

Forward Looking Statements

The foregoing contains forward-looking statements within the meaning of the Private Securities Litigation

Reform Act of 1995.

Such statements are not historical facts and include expressions about management’s

confidence and strategies and management’s expectations about new and existing programs and products,

acquisitions, relationships, opportunities, taxation, technology, market conditions and economic

expectations.

These

statements

may

be

identified

by

such

forward-looking

terminology

as

“should,”

“expect,”

“believe,”

“view,”

“opportunity,”

“allow,”

“continues,”

“reflects,”

“typically,”

“usually,”

“anticipate,”

or similar

statements

or

variations

of

such

terms.

Such

forward-looking

statements

involve

certain

risks

and

uncertainties. Actual results may differ materially from such forward-looking statements. Factors that may

cause actual results to differ materially from those contemplated by such forward-looking statements include,

but are not limited to, the following: failure to obtain shareholder approval for the merger of State Bancorp

with Valley or to satisfy other conditions to the merger on the proposed terms and within the proposed

timeframe including, without limitation, the purchase from the United States Department of the Treasury of

each share of State Bancorp’s Series A Preferred Stock issued under the Treasury’s Capital Purchase Program;

the inability to realize expected cost savings and synergies from the merger of State Bancorp with Valley in the

amounts or

in

the

timeframe

anticipated;

changes

in

the

estimate

of

non-recurring

charges;

costs

or

difficulties

relating to integration matters might be greater than expected; material adverse changes in Valley’s or State

Bancorp’s operations or earnings; the inability to retain State Bancorp’s customers and employees; or a decline

in the economy in Valley’s primary market areas, mainly in New Jersey and New York, as well as those factors

set forth in Valley’s Current Report on Form 8-K filed on July 28, 2011, Quarterly Report on Form 10-Q for the

quarter ended March 31, 2011 and our Annual Report on Form 10-K for the year ended December 31, 2010. 

Valley assumes no obligation for updating any such forward-looking statement at any time.

3

Additional Information and Where to Find it

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a

solicitation

of

any

vote

or

approval.

In

connection

with

the

proposed

merger,

Valley

intends

to

file

a

proxy

statement/prospectus with

the

Securities

and

Exchange

Commission.

INVESTORS

AND

SECURITY

HOLDERS

ARE

ADVISED TO READ THE PROXY STATEMENT/PROSPECTUS WHEN IT BECOMES AVAILABLE, BECAUSE IT WILL CONTAIN

IMPORTANT INFORMATION.

Investors and security holders may obtain a free copy of the registration statement

(when available) and other documents filed by Valley with the Commission at the Commission’s web site at

www.sec.gov.

These documents may be accessed and downloaded for free at Valley’s web site at

http://www.valleynationalbank.com/filings.html

or by directing a request to Dianne M. Grenz, First Senior Vice

President, Valley National Bancorp, at 1455 Valley Road, Wayne, New Jersey 07470, telephone (973) 305-3380.

Participants in the Solicitation

This

communication

is

not

a

solicitation

of

a

proxy

from

any

security

holder

of

State

Bancorp.

However,

Valley,

State

Bancorp, their respective directors and executive officers and other persons may be deemed to be participants in the

solicitation

of

proxies

from

State

Bancorp’s

shareholders

in

respect

of

the

proposed

transaction.

Information

regarding the directors and executive officers of Valley may be found in its definitive proxy statement relating to its

2011 Annual Meeting of Shareholders, which was filed with the Commission on March 11, 2011 and can be obtained

free of charge from Valley’s website.

Information regarding the directors and executive officers of State Bancorp may

be found in its definitive proxy statement relating to its 2011 Annual Meeting of Shareholders, which was filed with

the

Commission

on

March

25,

2011

and

can

be

obtained

free

of

charge

from

State

Bancorp’s

website.

Other

information

regarding

the

participants

in

the

proxy

solicitation

and

a

description

of

their

direct

and

indirect

interests,

by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to

be filed with the SEC when they become available.

Historical Financial Data (1)

(Dollars in millions, except for share data)

6/30/2011

14,470

$   

73.5

$      

$0.43

1.03

%

11.24

%

$0.34

5/11 -

5%

Stock Dividend

2010

14,144

131.2

0.78

0.93

10.32

0.69

5/10 -

5%

Stock Dividend

2009

14,284

116.1

0.61

0.81

8.64

0.69

5/09 -

5%

Stock Dividend

2008

14,718

93.6

0.61

0.69

8.74

0.69

5/08 -

5%

Stock Dividend

2007

12,749

153.2

1.05

1.25

16.43

0.69

5/07 -

5%

Stock Dividend

2006

12,395

163.7

1.10

1.33

17.24

0.67

5/06 -

5%

Stock Dividend

2005

12,436

163.4

1.12

1.39

19.17

0.65

5/05 -

5%

Stock Dividend

2004

10,763

154.4

1.11

1.51

22.77

0.63

5/04 -

5%

Stock Dividend

2003

9,873

153.4

1.10

1.63

24.21

0.60

5/03 -

5%

Stock Dividend

2002

9,148

154.6

1.06

1.78

23.59

0.57

5/02 -

5:4

Stock Split

2001

8,590

135.2

0.89

1.68

19.70

0.54

5/01 -

5%

Stock Dividend

2000

6,426

106.8

0.86

1.72

20.28

0.50

5/00 -

5%

Stock Dividend

1999

6,360

106.3

0.81

1.75

18.35

0.48

5/99 -

5%

Stock Dividend

1998

5,541

97.3

0.78

1.82

18.47

0.43

5/98 -

5:4

Stock Split

1997

5,091

85.0

0.71

1.67

18.88

0.38

5/97 -

5%

Stock Dividend

1996

4,687

67.5

0.62

1.47

17.23

0.34

5/96 -

5%

Stock Dividend

1995

4,586

62.6

0.57

1.40

16.60

0.32

5/95 -

5%

Stock Dividend

1994

3,744

59.0

0.63

1.60

20.03

0.30

5/94 -

10%

Stock Dividend

1993

3,605

56.4

0.61

1.62

21.42

0.24

4/93 -

5:4

Stock Split

1992

3,357

43.4

0.48

1.36

19.17

0.21

4/92 -

3:2

Stock Split

1991

3,055

31.7

0.35

1.29

15.40

0.20

Period End

Total Assets

Net Income

(2)

Common Stock Splits and Dividends

Diluted

Earnings Per

Common

Share

Return on

Average

Assets

Return on

Average

Equity

Cash Dividends

Declared Per

Common Share

4

Shareholder Returns

(1)  All per share amounts have been adjusted retroactively for stock splits  and stock dividends during the periods presented.

(2) Net income includes other-than-temporary impairment charges on investment securities totaling $517 thousand, $2.9 million, $4.0 million,

$49.9 million, and $10.4 million, net of tax benefit, for the period ended June 30, 2011, December 31, 2010, 2009, 2008, and 2007, respectively.

Valley National Bank Today

About Valley

Regional Bank Holding Company

Approximately $14.5 Billion in

Assets

Headquartered in Wayne, New

Jersey

40

th

Largest United States

Chartered

Commercial Bank

One of the Largest Chartered

Commercial Banks

Headquartered in

New Jersey

Operates 198 Branches in 134

Communities Serving 14 counties

throughout Northern and Central

New Jersey, Manhattan, Brooklyn

and Queens

Traded on the NYSE (VLY)

Significant Attributes

Consistent Shareholder Returns

Focus on Credit Quality

Conservative Strategies

Affluent and Heavily Populated

Footprint

Strong Customer Service

Experienced Senior and Executive

Management

5

6

Management Approach

Large percentage of retail ownership

Long-term investment approach

Focus on cash and stock dividends

Large insider ownership, family members, retired

employees and retired directors

Market Cap of approximately $2.3 Billion

Over 200 institutional holders

40% of total outstanding shares

Source: Bloomberg as of 7/27/2011

Large Bank that Operates and Feels Like a Small Closely Held Company

7

Valley’s 2Q 2011 Highlights

Announced Merger Agreement with State Bancorp, Inc.

Received regulatory approval from the OCC and FRB NY

Closing anticipated for 4Q 2011 subject to shareholder approval and other conditions

Loan Growth

Total non-covered

loans

increased

by

$73.0

million

linked

quarter,

or

3.7%

on

an

annualized

basis,

to

$9.3

billion

Residential Mortgage: 19.4% annualized growth linked quarter

Commercial Real Estate: 3.3% annualized growth linked quarter

Commercial & Industrial: (7.3%) annualized decline linked quarter

Consumer Loans: (4.8%) annualized decline linked quarter

Credit Quality

Total 30+ day delinquencies were 1.66% of entire loan portfolio

Total non-accrual loans were 1.19% of total loans

Out of approximately 22,500 residential mortgages and home equity loans, only 248 loans were past due

30 days

or more at June 30, 2011.

Net charge-offs were $6.2 million or 0.27% of average total non-covered loans on an annualized basis

Allowance for non-covered loan losses as a percentage of non-covered loans decreased to 1.29% from 1.30%

at March 31, 2011.

Net Income

2Q net

income

available

to

common

shareholders

was

$36.9

million

($0.22

Diluted

EPS)

Capital

Strong capital ratios

8

Equity Composition / Ratios*

Total Tier II Equity = $1.4 Billion

As of 06/30/11

Significant unrealized gain on facilities, referenced in slide 9,

not incorporated in capital ratios reflected above.

*Non-GAAP reconciliations shown on slide 29-30.

Capital Ratios

As of

06/30/2011

“Well

Capitalized”

Tangible Common Equity /

Tangible Assets

6.86%

N/A

Tangible Common Equity /

Risk-Weighted Assets

9.20%

N/A

Tier I Common Ratio

9.40%

N/A

Tier I

11.07%

6.00%

Tier II

13.09%

10.00%

Leverage

8.37%

5.00%

Book Value

$7.72

N/A

Tangible Book Value

$5.71

N/A

Tangible

Common

Equity 70%

Trust

Preferred

13%

Sub

debt

6%

LL Reserve

9%

Other

Equity 2%

9

Asset and Loan Composition

Total Assets = $14.5 Billion

As of 06/30/2011

*Other Assets includes bank owned branch locations carried at a

cost estimated by management to be significantly less than the

current market value.

Non-Covered Loans (Gross) = $9.3 Billion

Non

Covered

Loans 64%

Securities 20%

Cash 4%

Intangible

Assets 2%

Total Other

Assets* 8%

Commercial

Real Estate

37%

Residential

Mortgages

23%

Commercial

Loans

20%

Auto Loans

9%

Other

Consumer

7%

Construction

Loans

4%

Covered Loans

2%

-

10

Total Commercial Real Estate -

$3.4 Billion

(Non-Covered Loans)

As of 05/31/11

Primary Property

Type

$ Amount

(Millions)

% of

Total

Average

LTV

Retail

895

27%

49%

Industrial

656

19%

52%

Apartments

422

13%

45%

Office

415

12%

53%

Mixed Use

374

11%

45%

Healthcare

233

7%

62%

Specialty

216

6%

50%

Residential

76

2%

49%

Land Loans

65

2%

67%

Other

26

1%

48%

Diversified Commercial Real Estate Portfolio

-Average LTV based on current balances and most recent appraised value

-The total CRE loan balance  is based on Valley’s internal loan hierarchy

structure and does not reflect loan classifications reported in Valley’s SEC

and bank regulatory reports.

-The chart above does not include $373 million in construction loans.

27%

19%

13%

12%

11%

7%

6%

2%

2%

1%

11

Total Retail Property Types -

$895 Million

(Non-Covered Loans)

Retail Property Type

% of

Total

Average

LTV

Multi-Tenanted -

Anchor

26%

49%

Single Tenant

22%

50%

Multi-Tenanted -

No Anchor

20%

53%

Auto Dealership

12%

50%

Private & Public Clubs

6%

33%

Food Establishments

5%

54%

Entertainment Facilities

4%

45%

Private Education Facilities

3%

51%

Auto Servicing

2%

51%

Retail Composition of Commercial Real Estate

-Average LTV based on current balances and most recent appraised value

-The chart above does not include construction loans.

As of 05/31/11

12

Construction Loan Composition

Total

(Non-Covered)

Construction

Loans

-

$389

Million

Primary Property Type

$ Amount

(Millions)

% of

Total

Residential

149

38%

Retail

52

13%

Land Loans

52

13%

Apartments

42

11%

Mixed Use

37

10%

Other

18

5%

Industrial

13

3%

Office

8

3%

Healthcare

8

2%

Specialty

7

2%

-Construction loan balance is based on Valley’s internal loan hierarchy

structure and does not reflect loan classifications reported in Valley’s SEC

and bank regulatory reports.

As of 05/31/11

13

Net Charge-offs to Average Loans

Source -

SNL Financial As of 7/2711

Peer group consists of banks with total assets between $3 billion and $50 billion.

2003 -

2010

2011 YTD

14

Investment Portfolio

2011

Investment Types

2007

35%

GSE MBS (GNMA)

3%

20%

GSE MBS (FNMA/FHLMC)

49%

13%

Trust Preferred

12%

10%

State, County & Municipals

7%

8%

Other

7%

7%

US Treasury

0%

4%

Corporate Debt

17%

3%

Private Label MBS

5%

$2.9 Billion

Investment Portfolio

$3.1 Billion

As of 06/30/11 and 12/31/07

Duration of MBS Securities

2.22 Years

2.64 Years

15

Securities by Investment Grade

AAA Rated 70%

AA Rated 5%

A Rated 4%

BBB Rated 7%

Non Investment Grade 4%

Not Rated 10%

As of 06/30/2011

16

Deposits and Borrowings Composition

Total Liabilities = $13.2 Billion

As of 06/30/2011

Total Deposits = $9.7 Billion

Merger Overview

17

Strategic Rationale for Transaction

•

Powerful Super Community Bank Franchise

–

Strategic eastward geographic extension into a contiguous market

for Valley

–

Strong middle market commercial lender which matches up with

Valley’s historic strengths

–

Significant core deposit funding franchise

–

Utilizes strong management team with extensive Long Island expertise

–

Clean balance sheet

•

Shared Vision of Banking

–

Relationship bank

–

Conservative management culture

•

Financially Advantageous

–

Commitment to strong capital

–

Accretive to income within one year

18

Summary of Key Terms at Acquisition

*Adjusted

to

reflect

the

5%

stock

dividend

declared

by

Valley

on

4/13/11

**Calculations

based

on

Valley’s

10

day

average

closing

share

price

(4/14/11

–

4/28/11)

19

•100% common stock consideration; fixed 1 for 1 exchange ratio*

•~$222 million

•Non-taxable merger transaction

•Preferred to be repaid & warrants retired or converted to Valley

instruments

•1.85x

•17.9x (Does not include projected cost saves, estimated to be 25%)

•16.6%

•8.6%

•~2.30% (in addition to ALLL balance as of 3/31/11 of $27.6 million)

•~25% of 2010 of non-interest expense

•~$14 million after tax

•81% of loan portfolio reviewed by Valley’s experienced staff

•Subject to customary regulatory  and State shareholder approval

•VLY inherits strong seasoned management team

•4Q 2011

Structure

Transaction Value

TARP

Taxable / Non Taxable

Price / Tangible Book

Price / 2012 Estimated EPS

Price / Deposits

Core Deposit Premium

Loan Mark

Cost Saves

Merger –Related Charges

Due Diligence

Approvals

Management Transitions

Expected Closing

Price & Structure

Pricing Multiples**

Assumptions

Closing & Other

Valley’s Eastward Expansion

•

New York City

–

Acquired Merchants Bank in 2001 (7 branches)

–

Opened 7 De Novo locations

–

Acquired 2 locations with LibertyPointe and Park Avenue acquisitions 

•

Brooklyn and Queens

–

Opened 13 De Novo locations since 2007

–

Acquired deposits and lending relationships from LibertyPointe and Park Avenue

acquisitions

•

Long Island

–

Due diligence on Valley’s expansion into Long Island commenced in 2008

•

Continuation of Valley’s eastward franchise expansion, Long Island phase restrained between 2008

and 2010 due to economic uncertainty and lack of strong acquisition candidate(s)

–

Significant opportunities to fill in franchise

•

Opportunity to grow via De Novo branching

•

Still receptive to grow via acquisition

20

Strategic Fit

Valley’s New York Expansion Continues

2011 Total NY Relationships

•$2.9 billion in NY deposits

•$2.1 billion in NY loans**

* *Pro-forma deposits include State Bancorp; pro-forma loans are inclusive of VLY C&I and State Bancorp

2001+ De Novo Branches

Manhattan -

9

2007+ Brooklyn/Queens

Brooklyn –

8

Queens -

5

State Bank Branches

Queens –

3

Nassau –

8

Suffolk –

5

Manhattan -

1

VLY NJ Branches -

169

2001 Merchant’s Branches

Manhattan -

7

2001 Total NY Relationships

•$950 million in NY deposits

•$473 million in NY loans*

* NY loans include C&I loans only

21

Demographic Overview

•

Familiar & Strong Demographics

–

High net worth marketplace

–

Population density

–

Large average deposits per branch

–

Significant number of businesses within marketplace

* Core

Market

Includes

Passaic,

Morris,

Hudson,

Essex

and

Bergen

Counties

22

Region

Households

(HH) (2010)

HH per Sq

Mile

Avg. Income

per HH

Avg. Deposits

per Branch

Total

Businesses

NJ Core Market*

Brooklyn/Queens/NYC

Long Island

1,171,909

2,474,719

956,874

1,104

12,203

798

$96,097

$79,390

$113,739

$58.4 million

$239.6 million

$71.8 million

156,071

291,176

127,289

Future Opportunities

•

Ability to lever Valley’s capital to grow Long Island Franchise

–

Opportunity to fill in Nassau and Suffolk county geography

•

Consumer Lending

–

Opportunity to introduce new products (State Bancorp does

not actively pursue consumer lending relationships)

•

Valley’s residential mortgage products

•

Valley’s consumer lending (auto & home equity) products

•

Commercial Lending

–

Opportunity to expand relationships

•

Larger lending limit

23

Pro-Forma Impact

* Pro-Forma assets, loans and deposits have not been adjusted to reflect purchase accounting adjustments.

(1) Adjusted to reflect Valley’s 5% stock dividend declared on April 13, 2011

24

Financial Highlight

Assets ($ Billion)

Loans ($ Billion)

Deposits ($ Billion)

Branches

Tangible Common Equity /

Tangible Assets

Tangible Book Value /

Share

(1)

Valley

03/31/2011

State Bank

03/31/2011

Pro-Forma*

$14.4

$9.4

$9.7

198

6.88%

$5.68

$1.6

$1.1

$1.3

17

7.60%

$7.12

$16.0

$10.5

$11.0

215

6.68%

$5.57

3/31/2011 Loan Mix

Pro-Forma Impact

25

1

Family

22%

Auto

9%

Valley

Commercial

20%

Consumer

Construction

5%

-

4

6%

1

Family

7%

State Bank

Commercial

47%

Consumer

1

%

Construction

5%

Commercial

Real Estate

40%

-4

1-4

Family

20%

Auto

8%

Pro-Forma

Commercial

23%

Consumer

6%

Construction

5%

Commercial

Real Estate

38%

Commercial

Real Estate

38%

3/31/2011 Deposit Mix

Pro-Forma Impact

26

Valley

Noninterest

-

Bearing

26%

Interest

-

Bearing

44%

Time

30%

State Bank

Interest

-

Bearing

45%

Noninterest

-

Bearing

28%

Time

27%

Pro-Forma

Time

30%

Noninterest

-

Bearing

26%

Interest

-

Bearing

44%

Acquisition History

•

Customer Friendly

•

Employee Friendly

•

Seamless Transitions

•

Quick Conversions

27

2011

2010

2010

2008

2005

2005

2001

State Bank of Long Island (Jericho, NY)

The Park Avenue Bank (Manhattan, NY)

LibertyPointe Bank (Manhattan, NY)

Greater Community Bank (Totowa, NJ)

NorCrown Bank (Livingston, NJ)

Shrewsbury State Bank (Shrewsbury, NJ)

Merchants Bank of New York (Manhattan, NY)

$1,580 million

$480 million

$200 million

$976 million

$622 million

$425 million

$1,369 million

17

5

3

16

15

12

7

91

86

40

50

51

103

Year

Recent Bank Acquisitions

Total Assets

Branches

Data Processing

Conversion

Period (Days)

28

For More Information

Log onto our web site:   www.valleynationalbank.com

E-mail requests to:   dgrenz@valleynationalbank.com

Call Shareholder Relations at: (973) 305-3380

Write to:  Valley National Bank

1455 Valley Road

Wayne, New Jersey 07470

Attn:     Dianne M. Grenz, First Senior Vice President

Director of Marketing, Shareholder & Public Relations

Log onto our website above or www.sec.gov to obtain free copies of

documents filed by Valley with the SEC

29

06/30/2011

Non-GAAP Disclosure Reconciliations

($ in Thousands)

Total Assets

$14,469,776

Less: Goodwill & Other Intangible Assets

(341,893)

Total Tangible Assets  (TA)

$14,127,883

Total Equity

$1,311,218

Less: Goodwill & Other Intangible Assets

(341,893)

Total Tangible Common Equity (TCE)

$969,325

Risk Weighted Assets (RWA)

$10,535,713

Ratios

TCE / TA

6.86%

TCE / RWA

9.20%

Tier I Common Capital Ratio

(Tier 1 common /RWA)

9.40%

Tier I

(Total Tier I / RWA)

11.07%

Tier II

(Total Tier II / RWA)

13.09%

Total Equity

$1,311,218

Less: Net unrealized gains on securities available

for sale

(10,505)

Plus: Accumulated net gains (losses) on cash

flow hedges, net of tax

2,978

Plus: Pension liability adjustment, net of tax

17,815

Less: Goodwill

(317,891)

Less: Other disallowed intangible assets

(13,505)

Tier I Common Capital

$990,110

Plus: Trust preferred securities

$176,313

Total Tier I Capital

$1,166,423

Plus: Allowance for credit losses

$131,588

Plus: Unrealized Gains on AFS equity securities

1,435

Plus: Qualifying sub debt

80,000

Total Tier II Capital

$1,379,446

30

Common Shares Outstanding

169,851,372

Shareholders’

Equity

$1,311,218

Less: Goodwill and Other Intangible

Assets

(341,893)

Tangible Shareholders’

Equity

$969,325

Tangible Book Value

$5.71

06/30/2011

Non-GAAP Disclosure Reconciliations

($ in Thousands)