Community Partners Bancorp has received preliminary approval to participate in the U. S. Treasury Department's Capital Purchase Program. 

Under the Capital Purchase Program, Community Partners plans to sell the U. S. Treasury $9 million in fixed rate cumulative perpetual preferred stock, along with warrants to purchase approximately $1.35 million in common stock. 

The transaction is expected to close in January 2009.

Community Partners Bancorp operates as the holding company for Two River Community Bank and The Town Bank, which provide commercial, retail, and community banking products and services to small and medium-sized businesses, not-for-profit organizations, professionals, and individuals primarily in Monmouth and Union Counties, New Jersey.