This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Center Bancorp, Inc. Named To KBW 2012 Bank Honor Roll Award Winners

UNION, N.J., April 18, 2013 (GLOBE NEWSWIRE) -- Center Bancorp, Inc. (Nasdaq:CNBC) (the "Company," or "Center"), parent company of Union Center National Bank ("UCNB" or "the Bank"), announces that it has been included in the KBW Bank Honor Role for 2012. Honor Roll winners as defined by KBW are publicly traded banking institutions with more than $500 million in total assets that meet the following three conditions:
  • No annual loss reported in net income per share before extraordinary items over the past 10 years;
  • 2012 annual reported net income per share before extraordinary items equal to or greater than peak net income per share over the past 10 years; and
  • Consecutive increases in net income per share before extraordinary items since 2009.

KBW found that 47 banking institutions, out of nearly 400 total companies screened, now qualify for inclusion on the KBW Bank Honor Roll; up from 45 institutions in the prior year.

 "The Bank Honor Roll is a way for KBW to acknowledge companies that have managed to successfully navigate a variety of obstacles as they have arisen, despite difficult conditions in what remains a rate-challenged environment," noted Frederick Cannon, KBW Director of Research. "Despite 2012's uneven economic recovery and fiscal uncertainty, these Honor Roll banks managed to post healthier balance sheets through active liability management and also benefited from improving fundamentals as credit quality significantly improved."

This recognition follows a string of recognitions for the Company as previously reported.  "Entering our ninetieth year of operation, and achieving this success is another proud milestone for Center and a reflection of the hard work of our management team," said Anthony C. Weagley, President & CEO.  "The basis of good performance is core and consistent earnings. This trend reflects continued financial and operational momentum, and speaks to the quality of the organization; specifically our focus on consistently building shareholder value.  This recognition by KBW acknowledges the Bank's consistent focus on performance."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,596.35 -350.33 -1.95%
S&P 500 2,057.64 -43.85 -2.09%
NASDAQ 4,958.4680 -122.0370 -2.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs