Valley National Bancorp is a bank holding company. In addition to its principal subsidiary, Valley National Bank (VNB), and VNB Capital Trust I, through which it issued trust preferred securities. VNB is a national banking association that provides a full range of commercial and retail banking services. At December 31, 2001, VNB maintained 126 branch offices located in northern New Jersey and Manhattan. These services include the acceptance of demand, savings and time deposits, extension of consumer, real estate, Small Business Administration and other commercial credits; equipment leasing; and personal and corporate trust, as well as pension and fiduciary services. VNB also provides through wholly owned subsidiaries the services of a title insurance agency, and Securities and Exchange Commission-registered investment advisors.