Community Partners Bancorp announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2009. For the quarter ended September 30, 2009, the company reported a net loss to common shareholders of $6.4 million or $0.88 per common share (diluted), compared with net income of $329,000 or $0.05 per common share (diluted) for the same period in 2008. Third quarter 2009 results include a non-cash goodwill impairment charge of $6.7 million or $0.93 per share. Net interest income for the third quarter of 2009 totaled $5.8 million, an increase of $1.1 million, or 22.1% over the same quarter in 2008. Total Interest Income was $7,797,000, loss before Income taxes was $5,939,000, negative return on average assets was 3.91%, negative return on average equity was 29.72% as compared to total Interest Income of $7,719,000, income before Income taxes of $485,000, return on average assets of 0.23%, return on average equity of 1.78% for the same period prior year. For the nine months ended September 30, 2009, the Company reported a net loss to common shareholders of $5.9 million, or $0.82 per common share (diluted) compared to net income of $1.3 million, or $0.18 per common share (diluted) for the nine months ended September 30, 2008, primarily reflecting the previously discussed goodwill impairment charge. For the first nine months of 2009, net interest income totaled $15.4 million, an increase of $974,000, or 6.74%, from net interest income of $14.5 million for the same period in 2008. Total Interest Income was $22,343,000, loss before Income taxes was $4,857,000, negative return on average assets was 1.19%, negative return on average equity was 8.88% as compared to total Interest Income of $23,299,000, income before Income taxes of $2,017,000, return on average assets of 0.33%, return on average equity of 8.88% for the same period prior year. Tangible book value is $6.77 per share as compared to $6.61 per share for the same period prior year.

On October 1, 2009 Community Partners Bancorp was notified that the audit practice of Beard Miller Company LLP, the company's independent registered public accounting firm, was combined with ParenteBeard, LLC in a transaction pursuant to which Beard combined its operations with ParenteBeard and certain of the professional staff and partners of Beard joined ParenteBeard either as employees or partners of ParenteBeard. As a result of the combination, on the notification date, Beard resigned as the independent registered public accounting firm of the company and, with the approval of the audit committee of the company's board of directors, ParenteBeard was engaged as the company's independent registered public accounting firm on October 6, 2009.

Community Partners Bancorp reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported net income of $0.206 million, a decrease of $0.084 million or 29.0%, from the same quarter of 2008. Diluted earnings per common share after preferred stock dividends were $0.01 as compared to $0.04 for the same period in 2008. Diluted earnings per common share were impacted by a $0.288 million or $0.02 per common share industry-wide FDIC special assessment and accrued preferred stock dividends and accretion of $0.144 million or $0.02 per common share for the second quarter of 2009. Net interest income totaled $5.13 million, an increase of $0.257 million or 5.28% over $4.87 million for the same quarter in 2008. The increase in net interest income is attributable to that growth, along with careful pricing of deposit products. The company reported income before income taxes of $0.28 million and net income available to common shareholders of $0.06 million on total interest income of $7.39 million compared to income before income taxes of $0.42 million and net income available to common shareholders of $0.29 million on total interest income of $7.56 million for the same period a year ago. The company reported return on average assets of 0.13% and return on average equity of 1.00% compared to return on average assets of 0.27% and return on average equity of 1.77% reported a year ago. For the six months, the company reported net income of $0.718 million compared to net income of $1.01 million for the six months ended June 30, 2008. This represents a decrease in net income of $0.287 million or 28.6%. Diluted earnings per common share after preferred stock dividends were $0.07 for the first six months of 2009, as compared to $0.14 for the same period in 2008. Net interest income totaled $9.67 million, a decrease of $0.071 million or 0.73%, from net interest income of $9.74 million for the same period in 2008. The company reported income before income taxes of $1.08 million and net income available to common shareholders of $0.48 million on total interest income of $14.54 million compared to income before income taxes of $1.53 million and net income available to common shareholders of $1.00 million on total interest income of $15.58 million for the same period a year ago. The company reported return on average assets of 0.24% and return on average equity of 1.75% compared to return on average assets of 0.38% and return on average equity of 2.76% reported a year ago. Book value per share was $10.58 compared to $10.50 reported a year ago.