| Business Summary | | Center
Bancorp,
Inc.
is
a
one-bank
holding
company.
The
sole
activity
of
the
Company
is
to
act
as
a
holding
company
for
The
Union
Center
National
Bank
(the
Bank),
which
is
a
full-service
commercial
bank
offering
a
complete
range
of
individual
and
commercial
services.
The
Bank
has
full
trust
powers,
enabling
it
to
offer
a
variety
of
trust
services
to
its
customers.
In
the
lending
area,
these
services
include
short-
and
medium-term
loans,
lines
of
credit,
letters
of
credit,
working
capital
loans,
real
estate
construction
loans
and
mortgage
loans.
In
the
depository
area,
the
Bank
offers
demand
deposits,
savings
accounts
and
time
deposits.
In
addition,
the
Bank
offers
collection
services,
wire
transfers,
night
depository
and
lock
box
services,
and
deals
in
United
States
Treasury
and
Governmental
agency
securities,
certificates
of
deposits,
commercial
paper
and
repurchase
agreements. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | CNBC
is
a
bank
holding
company
for
Union
Center
National
Bank,
a
nationally
chartered
bank
with
12
offices
in
Union
and
Morris
Counties,
NJ.
For
the
six
months
ended
6/30/01,
interest
income
rose
12%
to
$19.2
million.
Net
interest
income
after
LLP
rose
10%
to
$10.4
million.
Net
income
rose
14%
to
$2.8
million.
Results
reflect
higher
interest
earning
assets,
partially
offset
by
higher
interest
paid
on
deposits.
Earnings
reflect
higher
income
from
service
charges. | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| Alexander Bol, 53 Chairman | -- | -- | John Davis, 58 Pres,
CEO, Director | $388K | $21K | Anthony Weagley, 39 VP
and Treasurer | 152K | -- | Julie D'Aloia, 38 VP,
Sec. | -- | -- | William Arnold, 49 VP | -- | -- | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|