Recently Center Bancor, Inc and ConnectOne Bancorp Inc have agreed on a Plan of Merger to merge ConnectOne with and into Center, change Center's name to 'ConnectOne Bancorp, Inc.' and merge UCNB
with and into ConnectOne Bank, a wholly owned subsidiary of ConnectOne.
Cardone, senior vice president, Branch Administration & Private Banking, said, 'UCNB
gained valued new customers and talented new employees through this transaction, and we're working very hard to ensure a smooth transition for both customers and employees alike.
Bagarozza will also serve as senior vice president & chief loan officer of UCNB
and will lead the commercial lending team.
Center Bancorp Inc is the parent company of Union, New Jersey-based Union Centre National Bank (UCNB
), one of the oldest national banks headquartered in the state of New Jersey and currently the largest commercial bank headquartered in Union County.
Center Bancorp Inc (NASDAQ: CNBC), parent company of Union Center National Bank (UCNB
), has said that it has set a subscription price of USD7.00 per share for its previously announced rights offering of up to approximately USD11.0m.