Valley National Bank, Wayne, N.J., the principal subsidiary of Valley National Bancorp, promoted two first senior vice presidents to executive vice president.

Peter J. Southway, who joined Valley National in 1978, will add supervision of marketing, sales, training, and community reinvestment activities to his oversight of consumer lending operations, including auto lending, residential mortgages, mortgage servicing, credit cards, and telephone banking.

Peter Crocitto, who joined the bank in 1977, adds responsibility for the departments of branch administration, human resources, information, deposit, and administrative services to his management of back-office and management information systems.

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