UNION, N.J., May 22, 2008 (PRIME NEWSWIRE) -- Center Bancorp, Inc. (Nasdaq:CNBC), parent company to Union Center National Bank of Union, ("UCNB"), New Jersey, announced at its Board meeting on May 22, 2008, the Board of Directors declared a quarterly cash dividend of $.09 per share. This dividend declared is for the quarter ending June 30, 2008. The dividend will be distributed on August 1, 2008, to shareholders of record on July 17, 2008.
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, through its subsidiary, Center Financial Group LLC, provides financial services, including brokerage services, insurance and annuities, mutual funds and financial planning. In the fourth quarter of 2007, Center formed a title Insurance partnership, Center Title LLC, with Progressive Title Company in Parsippany to provide title services in connection with the closing of real estate transactions.
UCNB currently operates 13 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, Union Hospital 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.