Shareholders of Two River Community Bank and The Town Bank Approve Agreement to Combine Under Community Partners Bancorp

Business Wire, March 31, 2006

MIDDLETOWN, N.J. & WESTFIELD, N.J. -- Two River Community Bank (OTCBB: TWRV) and The Town Bank (OTCBB: TBWN) announced today that the shareholders of each bank have approved an agreement by which the two banks will become independently operated, wholly-owned subsidiaries of Community Partners Bancorp, a newly formed holding company. Required bank regulatory approvals had been received prior to the shareholder meetings which were held on March 28, 2006 to vote on the transaction. The acquisition of the two banks by Community Partners Bancorp is scheduled to occur on April 1, 2006, at which time each share of Two River Community Bank common stock will be converted into one share of Community Partners common stock, and each share of Town Bank common stock will be converted into 1.25 shares of Community Partners common stock.

Based on December, 2005 pro forma combined financials, Community Partners Bancorp would have total assets of over $459 million, loans of approximately $354 million and deposits of approximately $385 million, making it the 22nd largest New Jersey-based bank holding company based on size of assets. Community Partners will have 11 banking offices stretching from Wall Township in Monmouth County to Westfield in Union County, New Jersey. The new company's common stock will be listed for trading on the NASDAQ Capital Market under the symbol "CPBC".

"I know I speak for both banks in expressing our appreciation to our shareholders for their collective approval of this transaction, which brings together two successful organizations into the new Community Partners Bancorp," commented Charles T. Parton, who is Chairman of the Board of Two River Community Bank as well as Community Partners Bancorp. "This transaction brings together two well-regarded community banks, each serving attractive markets with similar philosophies in banking, now with greater capital resources to grow and prosper," noted Joseph F.X. O'Sullivan, Chairman of The Town Bank and Vice Chairman of the new holding company. Barry B. Davall, who will continue in his role as President and CEO of Two River Community Bank while serving in the same capacity at the holding company level, noted that, "The new structure will allow for continued independence and local presence in the communities that each bank serves, but the combined resources will enable both banks to better serve their customers and create improved opportunities for their valued employees." Robert W. Dowens, Sr., President and CEO of The Town Bank added, "This combination will enable The Town Bank to continue its emphasis on customer service and dedication to the small business client, through expanded products and services."