UNION, N.J., March 8, 2012 (GLOBE NEWSWIRE) -- Center Bancorp, Inc. (Nasdaq:CNBC), parent company to Union Center National Bank ("UCNB"), announced today the appointment of David S. Leibowitz to Director of Private Banking. Mr. Leibowitz will be responsible for providing high net worth individuals with wealth and credit solutions tailored to meet their specific financial needs.

Prior to joining UCNB, Mr. Leibowitz served as a Private Banker in Citigroup's Private Banking Division. Previously, Mr. Leibowitz was an Investment Officer at JP Morgan Chase Private Bank. Mr. Leibowitz has a Bachelors degree from Boston University with a concentration in Economics.

Anthony C. Weagley, President & Chief Executive Officer, said, "David will add to Center's Wealth management group more than 12 years of wealth advisory and general banking experience including estate planning, investment strategy and change management expertise."  

"The wealth management market has vast potential in New Jersey and is a strategic market for Center. This type of service fits well with our service platform. Recruiting more talent to our professional staff will aid in the expansion of our capabilities which includes a wide range of wealth management expertise available to the high net worth individuals we serve in this area. With the acquisition of Saddle River Valley Bank and increased access to affluent communities in New Jersey, we are pleased to bring David to our team," added Mr. Weagley.

UCNB's Private Wealth Management and advisory umbrella of services 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 and philanthropic advisory.

Center also recently announced a strategic partnership with Compass Financial Management, LLC and ING to offer pension/401(k) planning services. Compass is an SEC Registered 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.

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 Wealth Management Division, which includes its wholly-owned subsidiary, Center Financial Group LLC, provides financial services including brokerage services, insurance and annuities, mutual funds, financial planning, estate and tax planning, trust, elder care and benefit plan administration.

The Bank currently operates 13 banking locations in Union and Morris Counties in New Jersey. 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 Chatham and Madison New Jersey Transit train stations.

While the Bank's primary market area is comprised of Union and Morris Counties, New Jersey, the Corporation has expanded to northern and central New Jersey. At December 31, 2011, the Corporation had total assets of $1.4 billion, total deposits of $1.1 billion and stockholders' equity of $135.9 million.

For further information regarding Center Bancorp, Inc., please visit our web site at http://www.centerbancorp.com or call (800) 862-3683. For information regarding Union Center National Bank, please visit our web site at http://www.ucnb.com.

CONTACT: Center Bancorp, Inc.
         Investor Inquiries:
         Joseph Gangemi
         VP, Investor Relations
         (908) 206-2863