Exhibit 99(a) 

For Immediate Release: April 13, 1995 

VALLEY NATIONAL FILES TO ESTABLISH EDGE CORPORATION 

APRIL 13, 1995 -- Valley National Bancorp and Valley National 
Bank, its commercial banking subsidiary, announced today that the 
Bank has filed an application with the Federal Reserve Bank of 
New York to establish an Edge Corporation to undertake certain 
international activities.  Valley explained that the purpose of 
the application is to establish a finance company in Toronto, 
Canada.  The proposed Canadian finance company will make consumer 
loans, primarily auto and mortgage loans in Canada, utilizing 
Valley's expertise in the area and extending to Canada the 
existing referral program Valley has with a major insurance 
company. 

Valley stated that an application also has been filed with the 
Office of Supervision of Financial Institutions, the Canadian 
banking and financial institution regulator, to establish the 
finance company in Canada, with capitalization of $10 million 
(Canadian). 

While Valley anticipates the applications will be approved, there 
can be no assurance concerning regulatory approval or the timing 
of such approvals.