For more information contact:
  Patricia B. Sweet
  Senior Vice President
  Corporate Communications Division
  (203) 578-6296



           CENTER FINANCIAL CORPORATION COMPLETES SIXTH ACQUISITION
                 IN FOUR YEARS WITH PURCHASE OF HERITAGE BANK


Waterbury, Conn., April 12, 1996 ... Center Financial Corporation (CFCX/NASDAQ),
the holding  company for  Centerbank,  today  announced  the  completion  of its
acquisition  of  Watertown-based  Heritage Bank. On Monday,  April 15,  Heritage
Bank's one branch office will reopen as Centerbank.

Under the terms of the agreement, Heritage Bank shareholders will receive 0.6938
shares of Center Financial  Corporation  common stock in a tax-free exchange for
each of their  Heritage Bank common  shares.  The exchange  ratio was calculated
based on an average  closing price of $18.1667 of Center  Financial  Corporation
common  stock for the  fifteen  days prior to the  receipt  of final  regulatory
approval on April 12, 1996.

With this acquisition, Center Financial Corporation increases its assets to $3.7
billion,  and  extends  its branch  network  to 44  Centerbank  locations  in 27
communities throughout Connecticut.

In making the  announcement,  Center Financial  Corporation  President and Chief
Executive  Officer  Robert J. Narkis stated,  "The  acquisition of Heritage Bank
strengthens measurably Centerbank's leadership position in the Watertown market.
This addition is a further  demonstration of Centerbank's  strategic acquisition
plan for growth and market  penetration,  and we obviously  are delighted to add
Heritage's fine customers to our banking family."

Barbara R. Rowley,  Centerbank's  Waterbury  regional president added, "With the
support of our new  customers,  shareholders,  and  neighbors,  we  welcome  the
opportunity  to  carry  on the  tradition  of  customer  service  and  community
involvement  which has been the  signature  of  Heritage  Bank  these past eight
years. We will do everything  possible to make this a smooth  transition for all
parties."

Center Financial  Corporation is the holding company for Centerbank,  Centerbank
Mortgage Company,  Center Capital  Corporation,  and Affiliated  Business Credit
Corporation.  It recently  signed an agreement with Edwards Super Food Stores to
place full-service branches in their stores located in Clinton, Meriden, Orange,
Shelton and Southington.

Established in 1850,  Centerbank  delivers banking services  throughout  central
Connecticut  and is  insured  by the  FDIC.  Centerbank  Mortgage  Company  is a
full-service  mortgage banking company with a residential servicing portfolio of
$7.3  billion.  Center  Capital  Corporation  is an equipment  leasing firm that
provides lease financing  services  nationwide to manufacturers and end-users of
capital  equipment.  Affiliated  Business  Credit  Corporation  is a  commercial
finance company serving the Northeast.

                                                        ###