New Jersey-based Union Center National Bank is to open a private banking and loan production office in Princeton, NJ.

The new banking center, located at 344 Nassau Street, is expected to launch in mid-2013. The firm said it is waiting on approval from the Office of the Comptroller of the Currency.

Anthony Weagley, president and chief executive, said the firm has already attracted business in the Princeton area and is therefore confident that a new office there will enhance business development efforts.

Union Center National Bank focuses its lending activities on commercial lending to small- and medium-sized businesses, real estate developers and high net worth individuals.

Through its private banking and wealth management division, Center Financial Group provides wealth management and advisory services to HNW individuals and families.