SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Dugan James P

(Last)

(First)

(Middle)

35 FOX HEDGE ROAD

(Street)

SADDLE RIVER

07458

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
01/26/2006

3. Issuer Name and Ticker or Trading Symbol
CENTRAL JERSEY BANCORP [ CJBK ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock⁽¹⁾	48,025.256	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Options (right to buy)⁽²⁾	04/28/1999	04/28/2009	Common Stock	538⁽³⁾⁽⁴⁾	$3.43⁽⁴⁾	D
Stock Options (right to buy)⁽²⁾	09/29/1999	09/29/2009	Common Stock	148⁽³⁾⁽⁴⁾	$3.43⁽⁴⁾	D
Stock Options (right to buy)⁽²⁾	05/22/2000	05/22/2010	Common Stock	326⁽³⁾⁽⁴⁾	$3.155⁽⁴⁾	D
Stock Options (right to buy)⁽²⁾	05/23/2001	05/23/2011	Common Stock	1,024⁽³⁾⁽⁴⁾	$4.535⁽⁴⁾	D
Stock Options (right to buy)⁽²⁾	07/25/2001	07/25/2011	Common Stock	78⁽³⁾⁽⁴⁾	$4.425⁽⁴⁾	D

Explanation of Responses:

1. Pursuant to the Agreement and Plan of Acquisition (the "Acquisition Agreement"), dated June 30, 2004, by and between Monmouth Community Bancorp and Allaire Community Bank ("Allaire"), Central Jersey Bancorp (formerly, Monmouth Community Bancorp) acquired Allaire, effective as of January 1, 2005 (the "Effective Date"), where stockholders of Allaire received one share of Central Jersey Bancorp for each share of Allaire owned by them prior to the Effective Date.

2. All such options are fully vested shares.

3. Each stock option to purchase Allaire common stock was assumed by Central Jersey Bancorp pursuant to the Acquisition Agreement and replaced by a stock option with similar terms and conditions (including number of shares, expiration date, vesting, exercise price and exercise provisions) that applied to such stock option prior to the Effective Date, pursuant to which the stock option holder can purchase shares of Central Jersey Bancorp common stock at an exchange ratio of one to one.

4. On May 26, 2005, Central Jersey Bancorp declared a 2-for-1 stock split payable July 1, 2005 to shareholders of record on June 15, 2005.

	James S. Vaccaro Attorney-in-Fact for James P. Dugan	02/02/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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