Community Partners Bancorp Reports First Quarter Operating Results.

MIDDLETOWN, N.J. -- Community Partners Bancorp (NASDAQ CM: CPBC), the parent company of Two River Community Bank and The Town Bank, reported consolidated earnings and asset growth for the first quarter of 2007. The Company reported net income of $901,000 for the quarter ended March 31, 2007, or $0.14 per basic share and $0.13 per diluted share, compared to net income of $483,000 for the first quarter of 2006, or $0.12 per basic share and $0.11 per diluted share. Net income for the quarter ended March 31, 2007 increased by $418,000, or 86.5% over the same prior year quarter. Diluted earnings per share for the quarter ended March 31, 2007, increased by $0.02 per share, or 18.2% compared to the same prior year quarter. Weighted average shares outstanding and earnings per share were retroactively adjusted to reflect the 3% stock dividend which was paid September 1, 2006 to shareholders of record as of August 18, 2006.

Operating results were significantly higher during the 2007 period as a result of the accretive effect resulting from the acquisition of The Town Bank and the continued growth of the Company. The Town Bank was acquired as of April 1, 2006.

At March 31, 2007, total assets were $552.1 million, an increase of $31.6 million, or 6.1% over December 31, 2006 total assets of $520.5 million. The Company's loan portfolio, net of allowances for loan losses, increased to $413.1 million at March 31, 2007, compared to $412.3 million at December 31, 2006, an increase of $777,000, or 0.2%. Total deposits increased to $465.6 million at March 31, 2007, compared to $441.9 million at December 31, 2006, an increase of $23.7 million, or 5.4%. The asset and deposit totals include a short term deposit in the amount of $15.6 million that came on the balance sheet March 30, 2007 and is expected to move off sometime in the second quarter.

Barry B. Davall, President and CEO of Community Partners Bancorp, stated, "These results reflect the hard work by our staff in an extremely challenging interest rate environment. Our goal has been to remain focused on our core business, while providing value-added service to our customers, and not straying from our established credit culture during these difficult times. We currently have no non-performing loans, nor are we involved in any sub-prime lending activity. I believe our current strategic initiatives will benefit us greatly as we manage the Company through this difficult economic environment."

Community Partners Bancorp is the holding company for Two River Community Bank, which is headquartered in Middletown, New Jersey, and The Town Bank, which is headquartered in Westfield, New Jersey. Two River Community Bank operates ten branches throughout Monmouth County and The Town Bank operates two branches in Westfield and anticipates additional branches in Fanwood and Cranford, New Jersey in 2007 and 2008. Community Partners acquired The Town Bank on April 1, 2006 in a transaction that was accounted for under the purchase accounting method for financial reporting purposes, with Two River as the acquiring entity. Community Partners was formed in connection with that transaction and had no business operations prior to April 1, 2006.

Reported earnings and balance sheet figures of Community Partners Bancorp prior to April 1, 2006 include those of Two River Community Bank and do not include those of The Town Bank. Current period performance, other than per share amounts and ratio analysis, is not generally comparable to reported results for the corresponding prior year, as a significant portion of the increases in reported earnings are due to the inclusion of Town Bank in the current but not the prior period.

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