UNION, N.J., March 14, 2013 (GLOBE NEWSWIRE) -- Center Bancorp, Inc. (Nasdaq:CNBC) (the "Corporation", or "Center"), parent company of Union Center National Bank ("UCNB" or the "Bank"), today announced that Union Center National Bank has filed an application with the Office of the Comptroller of the Currency for approval to open a Private Banking and Loan Production office in Princeton, New Jersey. The new Princeton banking center will be located at 344 Nassau Street.
"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," explains Anthony C. Weagley, President and Chief Executive Officer. "We look forward to opening our first Office in Mercer County and expect this facility to be operational by mid-year 2013," he added.
In addition to the Bank's wide range of consumer and business products and services, our commercial lending and private banking officers will also be featured in the new Princeton office."We are excited to have already been drawing business from the Princeton area, and are confident that our presence and heightened visibility in that market will enhance our business development efforts. Our management team looks forward to meeting more of our neighbors, civic leaders and local businesses, and supporting the community in a variety of meaningful and lasting ways," added Mr. Weagley. 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.