EXHIBIT (23)

                          INDEPENDENT AUDITORS' CONSENT

The Board of Directors
Valley National Bancorp:

We consent to  incorporation  by reference in the  registration  statements  No.
33-52809,  No. 33-61547 and No.  33-56933,  No.  33-65933,  No. 33-65993 and No.
333-25419 on Forms S-8 of Valley  National  Bancorp of our report dated  January
19, 2000  relating to the  consolidated  statements  of  financial  condition of
Valley  National  Bancorp and  subsidiaries as of December 31, 1999 and 1998 and
the related consolidated  statements of income,  change in shareholders' equity,
and cash flows for each of the years in the three-year period ended December 31,
1999,  which report  appears in the December 31, 1999 annual report on Form 10-K
of Valley National Bancorp.

                                  /s/ KPMG LLP

Short Hills, New Jersey
March 1, 2000