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Center Bancorp, Inc. Declares Quarterly Dividend of $0.055 Per Share

Friday, November 30, 2012 4:30 PM


UNION, N.J., Nov. 30, 2012 (GLOBE NEWSWIRE) -- Center Bancorp, Inc. (Nasdaq:CNBC), parent company to Union Center National Bank, ("UCNB"), today announced that the Board of Directors declared a quarterly cash dividend of $0.055 per share, at its Board meeting dated November 28, 2012.

This dividend declared is for the quarter ending December 31, 2012. The dividend will be distributed on February 1, 2013, to shareholders of record on January 15, 2013.

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.

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 14 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, Madison, Millburn/Vauxhall, Morristown, Oakland, Saddle River, Springfield, and Summit, New Jersey. The Bank's primary market area is comprised of Union, Morris and Bergen Counties, New Jersey. The Corporation recently completed its purchase and assumption of specific assets and liabilities of Saddle River Valley Bank. Saddle River Valley Bank had two branch locations in Saddle River and Oakland, NJ. Also, the opening of the new Englewood banking center location located in downtown Englewood, NJ is pending in the 4th quarter. 

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 www.ucnb.com.

CONTACT: Investor Inquiries:
         Joseph Gangemi
         VP, Investor Relations
         (908) 206-2863
         
         France Delle Donne
         VP, Director of
         Communications & PR
         (908) 206-2668

(Source: PrimeZone )
(Source: Quotemedia)

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