Center Bancorp, Inc. Announces New Commercial Lending Team

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UNION, N.J., Aug. 20, 2013 (GLOBE NEWSWIRE) -- Center Bancorp, Inc. (Nasdaq:CNBC) (the "Corporation", or "Center"), parent company of Union Center National Bank ("UCNB" or the "Bank"), announced the hiring of a commercial lending team, Linda Parish, and Martin Whalen, who will assist Center in expanding its commercial & industrial loan portfolio.

"We are thrilled to welcome these successful professionals to our banking team that will be able to hit the ground running, and complement our existing management team," said Anthony C. Weagley, President & CEO. "We have confidence that collectively, they will put us in a position to successfully grow the market in all aspects of business development."

Linda Parish has been in banking for over 25 years starting out at Goldman Sachs AG, and with large money center banks such as JPMorgan Chase Bank and Bank of America, where she was a vice president and commercial banker specializing in middle market banking and commercial growth. Most recently she held the position of Senior Member and Director of Commercial Landmarks, LLC in Long Branch, NJ. At Commercial Landmarks, Ms. Parish specialized in consulting and negotiating financing for clients needing debt and/or equity. Linda Parish is a graduate of the University of Notre Dame, and of the University of Zurich, Switzerland. She also holds a NJ Real Estate License. Linda is active in her community volunteering with various nonprofits. Linda resides in Fair Haven, NJ.

Martin Whalen's career span encompasses over 26 years in banking and commercial real estate financing including at CB Richard Ellis, Lehman Brothers, and Morgan Stanley. Mr. Whalen lead project finance initiatives for both proprietary and advisory clients for real estate investment and development firms at Brookstone Realty Advisors, and was vice president for real estate finance and securitization at Credit Suisse, USA in New York. Martin Whalen, MAI, was educated at the Berklee College of Music, Boston, and at New York University's continuing education programs in Finance where he was an Assistant Adjunct Professor in Real Estate Valuation. He holds a NJ Real Estate License and State Appraisal Certifications for New Jersey, New York and Connecticut.

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 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 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, 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 16 banking locations in Bergen, Mercer, Morris and Union Counties in New Jersey. Banking centers are located in Union Township (5 locations), Berkeley Heights, Boonton/Mountain Lakes, Englewood, Madison, Millburn/Vauxhall, Morristown, Oakland, Princeton, Saddle River, Springfield, and Summit, New Jersey. The Bank's primary market area is comprised of central and northern New Jersey.

CONTACT: Investor Inquiries: Joseph D. Gangemi Senior VP, Investor Relations (908) 206-2863 France Delle Donne Senior VP, Director of Communications & PR (908) 206-2668

Source:Center Bancorp, Inc.