Union Center National Bank Plans to Open Princeton Office

Union Center National Bank is planning to open a private banking and loan office at 344 Nassau Street.

The bank, owned by parent company Center Bancorp, Inc., has filed an application with the U.S. Department of Treasury’s Office of the Comptroller of the Currency for approval to open an office at the corner of Nassau Street and Harrison Street.

“Having a physical presence in Princeton will enable us to better serve the financial needs of our existing clients in the area and meet Center’s strategic plan to expand the reach of our branch network,” said Anthony C. Weagley, president and CEO. “We look forward to opening our first Office in Mercer County and expect this facility to be operational by mid-year 2013.”

Chartered in 1923, Union Center National Bank is one of the oldest national banks headquartered in the state of New Jersey and 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. Union currently operates 15 banking locations in Union, Morris and Bergen counties.

“We are excited to have already been drawing business from the Princeton area, and are confident that our presence and heightened visibility in that market will enhance our business development efforts,” Weagley said. “Our management team looks forward to meeting more of our neighbors, civic leaders and local businesses, and supporting the community in a variety of meaningful and lasting ways.”