Valley National Bancorp (Valley) is a bank holding company whose principal wholly owned subsidiary is Valley National Bank (Bank). The Bank provides a range of commercial and retail banking services. These services include the acceptance of demand, savings and time deposits; extension of consumer, real estate, commercial loans; equipment leasing; personal and corporate trust, and pension and fiduciary services. As of December 31, 2008, the Bank has 195 full-service banking offices located throughout northern and central New Jersey, and New York City. Valley also owns the voting and shares of VNB Capital Trust I and GCB Capital Trust III, through which it issued trust-preferred securities. On July 1, 2008, Valley completed the acquisition of Greater Community Bancorp (Greater Community), the holding company of Greater Community Bank, a commercial bank. On March 31, 2008, Valley sold its wholly owned broker-dealer subsidiary, Glen Rauch Securities, Inc.