BANK PURCHASE AND ASSUMPTION AGREEMENTBank Purchase and Assumption Agreement • February 2nd, 2012 • Center Bancorp Inc • State commercial banks • New Jersey
THIS BANK PURCHASE AND ASSUMPTION AGREEMENT (the “Agreement”) is entered into this 1st day of February, 2012 (the “Agreement Date”), by and among Saddle River Valley Bancorp, a savings and loan holding company (“Saddle River”), Saddle River Valley Bank, a federally chartered savings association and a wholly owned subsidiary of Saddle River (the “Savings Bank”), each having its principal office at 171 East Saddle River Road, Saddle River, New Jersey 07458, and Union Center National Bank, a federally chartered commercial bank (the “Purchaser”), having its principal office at 2455 Morris Avenue, Union, New Jersey 07083. Purchaser, Saddle River and the Savings Bank are individually referred to herein as a “Party” and collectively as the “Parties”; Saddle River and the Savings Bank are individually referred to herein as a “Seller” and collectively as the “Sellers”).
