Center Bancorp, Inc. Reports Resignation of Board Member
Thursday, April 11, 2013 • 2:21pm
Center Bancorp, Inc.
(Nasdaq:CNBC), parent company of Union Center National Bank ("UCNB" or
the "Bank"), announced that James J. Kennedy will be retiring from the
Boards of Directors of the Company and the Bank, effective May 20,
2013; the date of the 2013 annual meeting of shareholders. Mr. Kennedy
currently serves as a member of each of the Audit, Nominating and the
Executive Committees of the Board of Directors of the Company. Mr.
Kennedy has served the Board since the year 2000.
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
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 ("AT&CO."), Family Office
Services, of Katonah, New York, provides customized financial and
administrative services to high-net worth individuals.
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 15 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,
Englewood, Madison, Millburn/Vauxhall, Morristown, Oakland, Saddle
River, Springfield, and Summit, New Jersey. Center filed an application
in March 2013 with the Office of the Comptroller of the Currency to
open a Private Banking and Loan Production Office in Princeton, NJ. The
Bank's primary market area is comprised of Union, Morris and Bergen
Counties, New Jersey.