Center Bancorp, Inc. Announces UCNB Advisory Boards for Northern New Jersey

Mon Jun 9, 2008 1:59pm EDT
 
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UNION, N.J., June 9, 2008 (PRIME NEWSWIRE) -- Center Bancorp, Inc.
(Nasdaq:CNBC), parent company of Union Center National Bank ("UCNB"), today
announced the formation of an Advisory Board. The new Advisory Board members
include local leaders in business; currently over 35 leaders have been named to
UCNB's new advisory board. In the coming month the board will be divided into
three separate boards, Union Board, Morris Board and Northern
Jersey/Metropolitan Board. The diverse group of attorneys, accountants,
builders, realtors, business entrepreneurs and more met on June 4, 2008, to
begin discussing the Board's mission: how to enhance visibility and grow UCNB's
already well-established role as a premier New Jersey Banking Company and
leading business and community partner.

Discussing the Board's mission: how to enhance and grow UCNB's established role
as a leading business and community partner, Anthony C. Weagley, Chief Executive
Officer and President of Union Center National Bank and Center Bancorp, Inc.,
convened the Advisory Board to solicit input from leaders representing many
areas of business on an ongoing basis, and to help broaden UCNB's exposure in
the Northern New Jersey metropolitan markets. "For almost 85 years," says Mr.
Weagley, "UCNB had been one of the state's best kept secrets in Banking and has
specialized in providing customized financial services for owners of small and
mid-sized businesses. We have been successful in this respect by establishing
long-term, multi-faceted relationships with our customers, and by responding to
their needs. As the Bank grows and continues to reshape its customer base toward
lending, we want to insure that we continue to receive this valuable feedback
from our customers and increase our visibility in the markets." Alexander A.
Bol, Chairman of the Center Bancorp, Inc. Board of Directors noted, "The
advisory board provides us with a formal structure whereby we can be both
proactive and responsive to our customers, designed to aid in the creation of
long term sustainable revenue streams in the future."

Mr. Weagley also reaffirmed the Bank's current strategic alliance with American
Economic Planning Group ("AEPG") to provide wealth management services. Steven
Kaye, President of AEPG, who is also a member of the advisory board, spoke at
the event, noting the market synergies that can be created with our partnership.
At present, UCNB holds trust powers and operates Center Financial Group, LLC,
which provides financial services, including brokerage services, insurance and
annuities and mutual funds. This unit has been merged into the Wealth Management
umbrella within UCNB. Kevin Stant, Vice President, was recently named director
of the division, which includes our Private Clients Group. Clients will have
access to a full menu of one-stop wealth management services ranging from
investment counseling, financial planning, estate planning, pension/401(k)
planning, employee benefits and elder care consulting, remittance and trust
services to insurance advice.

Members of the Advisory Board include:

 ADAM KENT                             HOWARD SCHWARTZ
 Real Estate Equities Group, LLC       Schwartz, Barkin & Mitchell

 ANTHONY D'AMORE                       JACK VAN HORNE
 NATC-Donuts, Inc.                     Reeve & Van Horne, Esqs.

 BARRY R. MANDELBAUM                   JEFFREY I. LIEBERMAN
 Mandelbaum, Salsburg, Gold            Weinberg, Lieberman & Co.

 CHRISTIAN ERICSON                     JOE PAPARO
 BITS                                  Hehl & Hehl, PC

 EVAN ROSEN                            JOE SIMONTACCHI
 The Solomon Organization, LLC         Simontacchi & Co., LLC

 FRANK FAZIO                           JOHN STOLZ
 Porzio, Bromberg & Newman, PC         Lowenstein Sandler, PC

 GARY GABRIEL                          LEE WASSERMAN
 Cushman & Wakefield, Inc.             LEW Corporation

 GEORGE E. D'ALOIA                     MARK D. BIGOS
 D'Aloia & D'Aloia                     Towne Realty Group

 GEORGE JACOBS                         MARVIN LEHMAN
 Jacobs Enterprises, Inc.              Marvin Lehman, Esq.

 GREG VAN CLEEF, JR.                   MITCHELL DANZIS
 Real Estate Equities Group, LLC       Danvest, LLC

 NICK MINOIA                           VICTOR ANGELINE
 Diversified Properties                M. Gordon Construction Co.

 PAUL MARSHALL                         WILLIAM LAMPETER
 Marshall & Moran, Inc.                J.H. Cohn, LLP

 ROBERT VENTURO                        ZACHARY SOLOMON
 Well Done Building Products           The Solomon Organization, LLC

 ROB GENOVESE                          BETH WELSH
 Hehl & Hehl, PC                       Bassett Associates

 ROBERT C. GAROFALO                    MARILYN HENSHAW
 Garofalo, Zierak & O'Neill, PA        Progressive Title Agency

 ROBERT FORST                          STEVEN W. KAYE
 Forst Contracting & Development       American Economic Planning Group

 RON PEARCE                            STEVE MCFARLAND
 CH Kauffman & Associates, Inc.        The Hilltop Parmley Partners

 RUSSELL DREYER
 Dreyer's Lumber

 SAMUEL PEPPER
 Metropolitan Mortgage & Realty

 STEPHEN PRIBULA
 Pribula & Pribula, PC
About Center Bancorp

Center Bancorp, Inc. is a Financial Services Holding Company and 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 currently the largest commercial bank headquartered in Union
County. Its primary market niche is its commercial banking business. UCNB
focuses its lending activities on commercial lending to small and medium sized
businesses, real estate developers and high net worth individuals.

UCNB currently operates 12 branches in Union and Morris counties. Banking
centers are located in Union Township (6 locations), Berkeley Heights,
Boonton/Mountain Lakes, Madison, Millburn/Vauxhall, Morristown, Springfield and
Summit, New Jersey. The Bank also operates remote ATM Locations in the Union,
Chatham and Madison, New Jersey Transit train stations, and the Boys and Girls
Club of Union.

While UCNB's primary market area is comprised of Morris and Union Counties, New
Jersey, the Corporation has expanded to northern and central New Jersey. At
March 31, 2008, UCNB had total assets of $1.0 billion, total deposits of $623
million and stockholders' equity of approximately $85.4 million.

For further information regarding Center Bancorp, Inc., call 1-800-862-3683. For
information regarding Union Center National Bank, visit our web site at
http://www.centerbancorp.com.

Non-historical information in this press release constitute "forward-looking
statements." These statements involve risks and uncertainties that could cause
actual results to differ materially from such statements, including without
limitation, the effects of future economic conditions, governmental fiscal and
monetary policies, legislative and regulatory changes, the risks of changes in
interest rates, and the effects of competition. Additional factors that could
cause actual results to differ materially are discussed in Center Bancorp's
recent filings with the Securities and Exchange Commission, including, but not
limited to, its Annual Report on Form 10-K and its other periodic reports.

-0-
CONTACT:  Center Bancorp, Inc.
          Investor Inquiries:
          Anthony C. Weagley, President & Chief Executive Officer
            (908) 206-2886
          Investor Relations:
          Joseph Gangemi
            (908) 206-2886

 

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