EX-99.2 3 v104599_ex99-2.htm Unassociated Document
 

/ CORRECTION - Center Bancorp, Inc. Reports Fourth Quarter 2007 Earnings

UNION, NJ -- (MARKET WIRE) -- 01/31/08 -- In the news release, "Center Bancorp, Inc. Reports Fourth Quarter 2007 Earnings," issued earlier today by Center Bancorp, Inc. (NASDAQ: CNBC), please be advised that the Loans line item for the column dated 12/31/07 in the Quarterly Condensed Consolidated Balance Sheets (unaudited) table should read "551,669" rather than "51,669" as originally issued by Marketwire. Complete corrected table follows.

Quarterly Condensed Consolidated Balance Sheets (unaudited)
(dollars in thousands )
At quarter ended:
  
 12/31/07
  
 9/30/07
  
 6/30/07
  
 3/31/07
  
 12/31/06
  
 9/30/06
  
Cash and due from banks
  
$
20,541
  
$
15,277
  
$
24,363
  
$
19,245
  
$
34,088
  
$
18,431
  
Fed funds and money market
    
49,490
    
0
    
0
    
35,374
    
10,275
    
7,884
  
Investments
    
314,194
    
343,979
    
366,224
    
381,493
    
381,733
    
393,006
  
Loans
    
551,669
    
550,847
    
533,675
    
530,573
    
550,414
    
537,350
  
Allowance for loan losses
    
(5,163
)
  
(5,021
)
  
(4,974
)
  
(4,958
)
  
(4,960
)
  
(4,908
  
Restricted investment in bank stocks, at cost
    
8,467
    
7,347
    
8,299
    
7,832
    
7,805
    
6,924
  
Premises and equipment, net
    
17,419
    
17,662
    
18,400
    
18,314
    
18,829
    
18,621
  
Goodwill
    
16,804
    
16,804
    
16,804
    
16,804
    
16,804
    
16,804
  
Core deposit intangible
    
400
    
426
    
452
    
479
    
508
    
542
  
Bank owned life insurance
    
22,261
    
22,044
    
21,822
    
21,591
    
21,368
    
21,185
  
Other assets
    
21,563
    
18,425
    
16,557
    
22,219
    
14,520
    
14,587
  
TOTAL ASSETS
  
$
1,017,645
  
$
987,790
  
$
1,001,622
  
$
1,048,966
  
$
1,051,384
  
$
1,030,426
  
Deposits
    
699,070
    
650,999
    
678,011
    
722,648
    
726,771
    
731,727
  
Other borrowings
    
223,264
    
237,744
    
221,994
    
220,327
    
211,589
    
197,953
  
Other liabilities
    
10,033
    
5,317
    
5,804
    
7,828
    
15,411
    
4,069
  
Stockholders' equity
    
85,278
    
93,730
    
95,813
    
98,163
    
97,613
    
96,677
  
TOTAL LIABILITIES AND STOCK-HOLDERS' EQUITY
  
$
1,017,645
  
$
987,790
  
$
1,001,622
  
$
1,048,966
  
$
1,051,384
  
$
1,030,426
  

Investor Inquiries:
Anthony C. Weagley
President & Chief Executive Officer
(908) 206-2886

Joseph Gangemi
Investor Relations
(908) 206-2886