Center Bancorp, Inc.'s Private Banking Division Announces Strategic Partnership With Alexander, Troy & Company

UNION, N.J., Jan. 7, 2013 (GLOBE NEWSWIRE) -- Center Bancorp, Inc. (Nasdaq:CNBC), parent company of Union Center National Bank ("UCNB" or the "Bank"), announced the creation of a strategic partnership between the Bank's Private Banking Division and Alexander, Troy & Company ("AT&CO."), Family Office Services, of Katonah, New York. Alexander, Troy & Company, run by the firm's principal and founder, Peter Chryssos, provides customized financial and administrative services to high-net worth individuals. "We are privileged to partner with Alexander Troy & Company which, like UCNB, is focused on its distinctive clients," said Anthony C. Weagley, President and Chief Executive Officer of UCNB. "The Private Banking Division at Union Center National Bank provides unparalleled personal attention and an exceptional range of products and services, such as this new partnership," continued Mr. Weagley. "We continuously seek ways to evolve and innovate our client's banking experience. It is through our passion for our work, and embodying the principles of integrity, tradition, trust, and excellence, that we earn the privilege of long-term relationships with clients and the community," added Mr. Weagley.

AT&Co., created in 1989 to serve the personal finance needs of Mr. Chryssos' clients residing in New York, New Jersey and Connecticut, is excited about expanding its business management and concierge services to meet the needs of Union Center National Bank's Private Banking clients. "We are honored and humbled to become partners with an organization like UCNB whose unparalleled commitment to their customers has been a longstanding tradition," said Peter Chryssos. "We look forward to serving UCNB's Private Banking clients in the manner to which they've become accustomed and to bringing several new offerings which enhance the Private Banking menu of services," added Mr. Chryssos.

About Center Bancorp, Inc.

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.

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 and philanthropic advisory services.

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 Bergen, Morris and Union Counties in New Jersey. Banking centers are located in Union Township (five locations), Berkeley Heights, Boonton/Mountain Lakes, newly opened in Englewood, Madison, Millburn/Vauxhall, Morristown, Oakland, Saddle River, Springfield, and Summit. The Bank's primary market area is comprised of Bergen, Morris, and Union Counties, New Jersey.

For further information regarding Center Bancorp, Inc., please visit our website at or call 800.862.3683. For information regarding Union Center National Bank, please visit or call 1.800.UN.CENTER.

CONTACT: Investor Inquiries: Joseph D. Gangemi VP, Investor Relations 908.206.2863 France Delle Donne VP, Director of Communications & Public Relations 908.206.2668Source:Center Bancorp, Inc.