Center Bancorp, Inc.'s Union Center Subsidiary Receives OCC Approval to Open
Princeton, New Jersey Office
UNION, N.J., April 24, 2013 (GLOBE NEWSWIRE) -- Center Bancorp, Inc.
(Nasdaq:CNBC) the ("Corporation", or "Center"), parent company of Union Center
National Bank ("UCNB"), announced that Union Center National Bank has received
approval from the Office of the Comptroller of the Currency to open a Private
Banking and Loan Production office in Princeton, New Jersey. The new Princeton
banking center is located at 344 Nassau Street and is expected to open in the
summer of 2013.
"This is another exciting step for Center with its entrance to the attractive
Mercer County markets. We're making a strong commitment to this region with
the opening of this location and will look to expand our brand visibility in
this market," stated Anthony C. Weagley, President & Chief Executive
Officer."Having a physical presence in Princeton will enable us to better
serve the financial needs of our existing clients in the area and meet
Center's strategic plan to expand the reach of our branch network," added Mr.
About Center Bancorp
Center Bancorp, Inc. is a bank holding company, which operates Union Center
National Bank, its main subsidiary. Chartered in 1923, Union Center National
Bank is one of the oldest national banks headquartered in the state of New
Jersey and now ranks as the third largest national bank headquartered in the
state.Union Center National Bank is currently the largest commercial bank
headquartered in Union County. Its primary market niche is its commercial
banking business. The Bank focuses its lending activities on commercial
lending to small- and medium-sized businesses, real estate developers and high
net worth individuals.
The Bank, through its Private Banking and Wealth Management Division, which
includes its wholly-owned subsidiary, Center Financial Group LLC, provides
personalized wealth management and advisory services to high net worth
individuals and families. Our services include banking, liquidity management,
investment services, custody, tailored lending, wealth planning, trust and
fiduciary services, insurance, family wealth advisory services and
philanthropic advisory services.The Bank, through a strategic partnership
between the Bank's Private Banking Division and Alexander, Troy & Company
("AT&CO."), Family Office Services, of Katonah, New York, provides customized
financial and administrative services to high-net worth individuals.
Center also through a strategic partnership with Compass Financial Management,
LLC and ING offers pension/401(k) planning services.Compass is an Investment
Advisory Company with five decades of cumulative experience providing
investment services in a personal, professional and attentive manner.They
provide discretionary private investment management for individuals and
corporate accounts as well as 401(k) advisory services.
The Bank currently operates 15 banking locations in Union, Morris and Bergen
Counties in New Jersey. Banking centers are located in Union Township (5
locations), Berkeley Heights, Boonton/Mountain Lakes,Englewood, Madison,
Millburn/Vauxhall, Morristown, Oakland, Saddle River, Springfield, and Summit,
New Jersey. Center received approval from the OCC to open a Private Banking
and Loan Production Office in Princeton, NJ. The Bank's primary market area is
comprised of central and northern New Jersey.
For further information regarding Center Bancorp, Inc., please visit our web
site at http://www.centerbancorp.com or call (800) 862-3683. For information
regarding Union Center National Bank, please visit our web site at
CONTACT: Investor Inquiries:
Senior Vice President
France Delle Donne
Senior Vice President
PR & Communications
Center Bancorp, Inc. Logo
Press spacebar to pause and continue. Press esc to stop.