June 14, 2013 at 12:48 PM
UNION, NJ - Anthony C. Weagley, president and chief executive officer of Center Bancorp Inc., will ring the closing bell at the NASDAQ exchance Friday afternoon to mark the 90th anniversary of Union Center National Bank. Center Bancorp is the parent company of Union Center National Bank.
"I am thrilled to be joined by our Bank directors, shareholders, clients and team members in marking this Anniversary milestone with the closing bell at NASDAQ,” Weagley said. "We believe that significant opportunities for franchise expansion into the New Jersey marketplace exists for Center, and that we continue to have in place a flexible working strategic plan to generate superior value to shareholders.”
The bank has locations in Union, Morris and Bergen counties in New Jersey. Banking centers are located in Union Township (five locations), Berkeley Heights, Summit, Madison, Millburn/Vauxhall, Boonton/Mountain Lakes, Englewood, Morristown, Oakland, Saddle River and Springfield.
Following recent announcements of top corporate earnings, increased quarterly dividend and recognitions received that placed Center Bancorp on SNL Financial’s annual ranking of the100 Top-Performing Community Banks of 2012 with $500 million to $5 billion in assets in the country, among others, the bank will also be opening its 16th location and private banking and loan production center in Princeton next week.
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.
Center received approval from the Office of the Comptroller of the Currency to open a Private Banking and Loan Production Office in Princeton. The Bank's primary market area is comprised of central and northern New Jersey.