Center Bancorp, Inc. Declares Quarterly Dividend of $0.075 Per Share
UNION, N.J., June 2, 2014 (GLOBE NEWSWIRE) -- Center Bancorp, Inc.
(Nasdaq:CNBC), parent company of Union Center National Bank, ("UCNB" or the
"Bank"), announced that the Board of Directors of Center Bancorp has declared
a quarterly cash dividend of $0.075 per share. The dividend will be
distributed on August 1, 2014, to all shareholders of record on July 11, 2014.
About Center Bancorp
Pursuant to an Agreement and Plan of Merger by and between Center Bancorp,
Inc. ("Center") and ConnectOne Bancorp, Inc. ("ConnectOne"), dated as of
January 20, 2014, the parties have agreed to merge ConnectOne with and into
Center, change Center's name to "ConnectOne Bancorp, Inc." and merge UCNB with
and into ConnectOne Bank, a wholly owned subsidiary of ConnectOne. As
previously disclosed, Center and ConnectOne anticipate a closing on July 1,
Center is a bank holding company, which operates UCNB, its main subsidiary.
Chartered in 1923, UCNB 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. UCNB 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,
Family Office Services, of Katonah, New York, provides customized financial
and administrative services to high-net worth individuals.
Center, 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 16 banking locations in Bergen, Mercer, Morris and
Union 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, Princeton
and Summit, New Jersey. The Bank's primary market area is comprised of central
and northern New Jersey.
Additional Information and Where to Find It
This communication does not constitute an offer to sell or the solicitation of
an offer to buy any securities or a solicitation of any vote or approval. In
connection with the merger transactions referenced in this press release,
Center Bancorp has filed a registration statement with the Securities and
Exchange Commission, which has been declared effective. The joint proxy
statement and prospectus contained in the registration statement has been
mailed to shareholders of Center and ConnectOne. Investors are advised to read
the joint proxy statement and prospectus because it contains important
information. Copies of the joint proxy statement and prospectus and other
documents filed by Center and ConnectOne with the SEC are available free of
charge at the SEC's web site at www.sec.gov. Documents filed by Center may
also be accessed and downloaded for free at Center's website at
www.centerbancorp.com or by directing a request to Joseph D. Gangemi,
Corporate Secretary and Investor Relations Officer, Center Bancorp, Inc., 2455
Morris Avenue, Union, New Jersey 07083. Documents filed by ConnectOne may also
be accessed and downloaded for free at ConnectOne's website at
www.connectonebank.com or by directing a request to Laura Criscione, Executive
Vice President, ConnectOne Bancorp, Inc., 301 Sylvan Avenue, Englewood Cliffs,
New Jersey 07632 (201-816-8900).
Forward Looking Statements
This communication contains forward-looking statements that are made in
reliance upon the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements speak only as of the date
made, and are subject to numerous assumptions, risks and uncertainties, all of
which may change over time, as disclosed in filings made by Center with the
SEC. Neither Center nor ConnectOne assumes any obligation for updating any
such forward-looking statements at any time.
CONTACT: Investor Inquiries:
Anthony C. Weagley
President & Chief Executive Officer
Center Bancorp, Inc.
Center Bancorp, Inc. Logo
Press spacebar to pause and continue. Press esc to stop.