**EXHIBIT
      99.1**











**55
      Union Boulevard, P.O. Box 269, Totowa,
      NJ  07511-0269**


**(973)
      942-1111     Fax (973) 942-9816**


**www.greatercommunity.com**





**Greater
      Community Bancorp (GFLS) Announces $0.145 Cash Dividend and 2.5% Stock
      Dividend**





TOTOWA,
      NJ, June 19, 2007 – At its regular meeting held on June 19, 2007, the Board of
      Directors of Greater Community Bancorp (Nasdaq: GFLS) (the ”Company”) declared a
      quarterly cash dividend of $0.145 per share on the Company’s common stock,
      payable July 31, 2007 to shareholders of record on July 13, 2007.  The
      quarterly cash dividend reflects an increase of $0.005 per share compared with
      the dividend declared in the first quarter of 2007. The Board also declared
      a
      2.5% common stock dividend, payable September 28, 2007 to shareholders of record
      on September 14, 2007.




About
      the
      Company




Greater
      Community Bancorp is a financial holding company headquartered in Totowa, New
      Jersey. The Company operates fifteen full-service branches in the northern
      New
      Jersey counties of Passaic, Bergen, and Morris through its state-chartered
      commercial bank subsidiary, Greater Community Bank. Greater Community Bank
      provides traditional commercial and retail banking services to small businesses
      and consumers, and operates an equipment leasing and financing subsidiary,
      Highland Capital Corp. Greater Community Financial, a division of Greater
      Community Bank, provides a wide range of investment products and services
      exclusively through Raymond James Financial Services, Inc., member NASD/SIPC.
      (Securities are not FDIC insured or bank-guaranteed, and are subject to risk
      and
      may lose value). The Company offers traditional insurance products through
      its
      Greater Community Insurance Services, LLC subsidiary, and also offers title
      insurance and settlement services through its Greater Community Title, LLC
      subsidiary and personal income tax return preparation services through its
      Greater Community Tax Services, LLC subsidiary.  Insurance policies
      and tax services are not insured by the FDIC or any federal government agency,
      may lose value, and are not a deposit of or guaranteed by Greater Community
      Bank
      or any bank affiliate. For additional information about Greater Community
      Bancorp and its subsidiaries visit www.greatercommunity.com or call
      973-942-1111.




Forward-Looking
      Statements




This
      release contains forward-looking statements relating to present or future trends
      or factors affecting the banking industry, and specifically the financial
      condition and results of operations, including without limitation, statements
      relating to the earnings outlook of the Company, as well as its operations,
      markets and products. Actual results could differ materially from those
      indicated. Among the important factors that could cause results to differ
      materially are interest rate changes, change in economic climate, which could
      materially impact credit quality trends and the ability to generate loans,
      changes in the mix of the Company's business, competitive pressures, changes
      in
      accounting, tax or regulatory practices or requirements, resolution of tax
      reviews, and those risk factors detailed in the Company's periodic reports
      and
      registration statements filed with the Securities and Exchange Commission.
      The
      Company undertakes no obligation to release revisions to these forward-looking
      statements or reflect events or circumstances after the date of this
      release.




CONTACT
      at Greater Community Bancorp:


Anthony
      M. Bruno, Jr.


973-942-1111
      x 1001


anthony.bruno@greatercommunity.com





SOURCE:
      Greater Community Bancorp