Exhibit 10.30



                                  THE TOWN BANK
                                       OF
                                    WESTFIELD

                         1999 DIRECTOR STOCK OPTION PLAN

1.    Purpose of the 1999 Director Stock Option Plan.

            The Town Bank of Westfield (the "Corporation") desires to attract
and retain the best available persons to serve as Directors of the Corporation
(the "Directors") and to encourage their regular attendance at Board and
committee meetings and to obtain their highest level of performance. The 1999
Director Stock Option Plan (the "Director Stock Option Plan") amends in its
entirety, restates, supersedes and terminates all preceding Director Stock
Option Plans and is intended to contribute significantly to the attainment of
these objectives by (i) providing long-term incentives and rewards to all
Directors; and (ii) assisting the Corporation and any subsidiary of the
Corporation in attracting and retaining Directors with experience and ability.

            The term "Directors" as used in this Director Stock Option Plan
means the Directors and the members of any advisory committee to the Board of
Directors of (i) the Corporation, (ii) any parent of the Corporation, or (iii)
any subsidiary of the Corporation.

2.    Scope and Duration of the Director Stock Option Plan.

            Under the Director Stock Option Plan, options (singularly, an
"Option", collectively, the "Options") to purchase voting common stock, $5.00
par value ("Common Stock") of the Corporation, may be granted. The aggregate
number of shares of Common Stock reserved for grant from time to time under the
Director Stock Option Plan is 31,169 shares of Common Stock, which shares may be
authorized but unissued shares of Common Stock or shares of Common Stock which
shall have been or which may be reacquired by the Corporation, as the Board of
Directors of the Corporation shall from time to time determine. The aggregate
number of shares of Common Stock reserved for grant under the Director Stock
Option Plan shall be subject to adjustment as provided in Paragraph 11. In no
event shall the number of shares reserved for grant under the Director Stock
Option Plan exceed five percent of the issued and outstanding shares of capital
stock of the Corporation. If an Option shall expire or terminate for any reason
without having been exercised in full, the shares represented by the portion
thereof not so exercised shall (unless the Director Stock Option Plan shall have
been terminated) become available for other Options under the Director Stock
Option Plan. The Director Stock Option Plan shall become effective upon approval
by the Board of Directors and stockholders of the Corporation as provided in
Paragraph 12. Subject to Paragraph 13, no Option shall be granted under the
Director Stock Option Plan after the tenth (10th) anniversary of the approval of
the Director Stock Option Plan by the stockholders of the Corporation, or
December 31, 2009, whichever occurs first.

3.    Administration of the Director Stock Option Plan.

            The Board of Directors of the Corporation shall appoint a committee
(the "Committee") to administer the Director Stock Option Plan. The Committee
shall consist of either the entire Board of Directors or a Committee appointed
by the Board of Directors consisting of one or more persons, who are Directors
of the Corporation, and who shall serve at the pleasure of the Board of
Directors.

            The Committee shall have authority in its discretion, subject to,
and not inconsistent with, the express provisions of the Director Stock Option
Plan, to direct the grant of Options; to determine the purchase price of the
Common Stock covered by each Option, the Directors to whom, and the time or
times at which, Options shall be granted and the number of shares to be covered
by each Option; to interpret the Director Stock Option Plan; to determine the
time or times at which Options may be exercised; to prescribe, amend and rescind
rules and regulations relating to the Director Stock Option Plan, including,
without limitation, such rules and regulations as it shall deem advisable to
insure that transactions involving Options may qualify for exemption under such
rules and regulations as the Securities and Exchange Commission may promulgate
or propose from time to time exempting


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transactions from Section 16(b) of the Securities Exchange Act of 1934; to
determine the terms and provisions of, and to cause the Corporation to enter
into, agreements with Directors as a prerequisite to, and in connection with, a
grant of Options under the Director Stock Option Plan (the "Agreements"), which
Agreements may vary from one another as the Committee shall deem appropriate;
and to make all other determinations it may deem necessary or advisable for the
administration of the Director Stock Option Plan. The Committee may delegate to
one or more of its members, or to one or more agents, those administrative
duties as the Committee may deem advisable and may employ (or authorize any
person to whom it has delegated duties, as aforesaid) to employ one or more
persons to render advice with respect to any responsibility it (or that person)
may have under the Director Stock Option Plan.

            The Board of Directors of the Corporation may from time to time
appoint members of the Committee in substitution for, or in addition to, members
previously appointed and may fill vacancies, however caused, in the Committee.
The Committee shall hold its meetings at such times and places as it shall deem
advisable. Members may participate in meetings through conference telephone
calls or similar arrangements. A majority of the members of the Committee shall
constitute a quorum. All determinations of the Committee shall be made by a
majority of its members. Any decision or determination reduced to writing and
signed by all of the members shall be fully effective as if it had been made by
a majority vote at a meeting duly called and held. The Committee may appoint a
secretary, shall keep minutes of its meetings, and shall make such rules and
regulations for the conduct of its business as it shall deem necessary or
advisable. No member of the Committee shall be liable for any action or
determination taken or made, or not taken or not made, in good faith with
respect to the Director Stock Option Plan or any Option granted under it.

4.    Eligibility: Factors to be Considered in Granting Options.

      An option may be granted only to a person who is a Director of, or, if the
Board of Directors in its sole and absolute discretion shall elect, a member of
an advisory committee to the Board of Directors of the Corporation, or a parent
corporation or a subsidiary corporation thereof on the date of grant. In
determining the persons to whom Options shall be granted and the number of
shares of Common Stock to be covered by each Option, the Committee shall take
into account the number of Board and Committee meetings the person attends, the
performance of the Corporation and such other factors as the Committee in its
sole and absolute discretion shall deem relevant. Subject to the provisions of
Paragraph 2, above, a person may receive Options on more than one occasion under
the Director Stock Option Plan.

5.    Option Price.

            The purchase price per share of the Common Stock covered by each
Option shall be established by the Committee, but in no event shall it be less
than the greater of the par value of the Common Stock or eighty-five percent of
the fair market value of the Common Stock on the date the Option is issued. If,
at the time an Option is granted the Common Stock is publicly traded, fair
market value shall be the last reported sale price, regular way, on the last
preceding trading day, or, in case no such reported sale takes place on such
day, the average of the last reported bid and asked prices, regular, in either
case on the principal national securities exchange, if any, on which the Common
Stock is admitted to trading or listed, or if not so admitted to trading or
listed on any national securities exchange, the average of the closing reported
bid and asked prices on the last preceding trading day as reported by the
National Association of Securities Dealers Automated Quotation System ("NASDAQ")
or any comparable system, or if not listed for quotation through NASDAQ or any
comparable system, the average of the closing bid and asked prices on the last
preceding trading day as recorded by two members of the National Association of
Securities Dealers, Inc. selected from time to time by the Committee for that
purpose. If the Committee shall determine that no stock quotation is available
or that the stock price quotation is not representative of fair market value by
reason of the lack of a significant number of recent transactions or otherwise,
the Committee may determine fair market value in such a manner as it shall deem
appropriate under the circumstances. If, at the time an Option is granted, the
Common Stock is not publicly traded, the Committee shall make a good faith
attempt to determine its fair market value. The determination of the fair market
value of the Common Stock shall be made by the Committee without regard to any
restrictions, other than a restriction which, by its terms, will never lapse.
The date on which the Committee adopts a resolution expressly granting an Option
shall be considered the date on which that Option is granted.


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6.    Term of Options.

            The term of each option shall be fixed by the Committee, but in no
event shall it be more than 10 years from the date of grant, subject to earlier
termination as provided in Paragraphs 9 and 10.

7.    Exercise of Options.

            (a) An Option granted as a Director's annual fee for service may be
exercised, in whole or in part, by the last day of the year for which it was
granted. All Options issued for attendance at meetings shall be fully
exercisable, in whole or in part, at all times. All shares not previously
purchased may be purchased after the close of the year for which the Option
under which they may be purchased was granted provided the Option has not lapsed
or been previously terminated. Notwithstanding the foregoing, (i) the Committee
may in its discretion issue Options from time to time which are immediately
exercisable in full or which are exercisable at such other time or times as the
Committee in its sole and absolute discretion determines, except that no Option
shall be exercisable later than ten years after its date of grant.

            (b) Options may be exercised in such manner and at such time or
times as the Committee in its sole and absolute discretion shall determine,
except that in no event shall any such Option be exercisable later than ten
years after its date of grant.

            (c) An Option may be exercised as to any or all, full or fractional
shares of Common Stock as to which the Option is then exercisable.

            (d) The purchase price of the shares of Common Stock as to which an
Option is exercised shall be paid in full in cash at the time of exercise, or in
installments. In addition, the Holder (as hereinafter defined) shall, upon
notification of the amount due and prior to, or concurrently with, delivery to
the Holder of a certificate representing such shares of Common Stock, pay
promptly any amount necessary to satisfy applicable tax requirements (whether
federal, state, local, or otherwise). If the purchase price is to be paid in
installments, the Holder shall pay the down payment, if any, and the balance as
the related Agreement or Committee may permit.

            (e) Except as provided in Paragraphs 9 and 10, no Option may be
exercised unless the Holder thereof is then a Director, or has been a Director,
of the Corporation or any parent of the Corporation or any subsidiary of the
Corporation or any combination thereof on the date of its grant.

            (f) A Holder shall have the rights of a stockholder with respect to
shares of Common Stock covered by an Option only upon becoming the Holder of
record of such shares of Common Stock.

8.    Nontransferability.

            No Options granted under the Director Stock Option Plan shall be
transferable other than by will or by the laws of descent and distribution of
any state which has, or would have, jurisdiction of the estate of a deceased
Option Holder. Options may be exercised during the lifetime of the Holder only
by the Holder.

9.    Termination of Relationship with the Corporation.

            (a) If a Holder ceases to be a Director of the Corporation or any
parent or subsidiary thereof (except as set forth in this Paragraph 9), any
Option held by that person may, subject to the provisions of the Director Stock
Option Plan, be exercised (to the extent that he was entitled to exercise such
Option at the termination of his service as a Director or member of an advisory
committee to the Board of Directors, as the case may be, pursuant to any
Agreement) at any time within 90 days after such termination, but not more than
ten years after the date on which such Option was granted.

            (b) Other than as provided in Paragraph 9(a), Options granted under
the Director Stock Option Plan shall not be affected by any change of committee
assignment of a Holder so long as the Holder remains a Director.


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            (c) Any Agreement may contain such provisions as the Committee shall
approve with reference to the determination of the date of termination of
service as a Director for purposes of the Director Stock Option Plan and the
effect of leaves of absence, which provisions may vary from one Agreement to
another.

            (d) Nothing in the Director Stock Option Plan or in any Option
granted pursuant to the Director Stock Option Plan shall confer upon any
Director or other person any right to continue on the Board of Directors, or any
committee thereof, of the Corporation or any parent corporation or any
subsidiary corporation thereof, or affect the right of the Corporation or any
such parent corporation or any such subsidiary corporation, as the case may be,
regarding the Director or committee member.

10.   Death or Disability of Holder.

            If a person to whom an Option has been granted under the Director
Stock Option Plan shall:

            (a) die (i) while he is serving as a Director or member of an
advisory committee of the Board of Directors of the Corporation or a corporation
which is a parent corporation or a subsidiary corporation thereof; or

            (b) while serving as a Director or member of an advisory committee
of the Board of Directors of the Corporation or a corporation which is a parent
corporation or subsidiary corporation thereof, become permanently and totally
disabled within the meaning of Section 22(e)(3) of the Internal Revenue Code of
1986, as from time to time amended or the comparable provision in any future tax
statute (the "Code"), then to the extent that the Option was exercisable
immediately prior to the happening of such event, such Option may be exercised
as set forth herein by the Holder or, in the event of death, by the person or
persons to whom the Holder's rights under the Option pass by will or applicable
law, or, if no such person has such right, by his executors or administrators,
and the period for exercise to the extent provided in Paragraph 9 shall be
extended to six months in the case of the permanent and total disability or in
the case of the death of the Holder, but no more than ten years after the date
such Option was granted, as shall be prescribed in the Holder's Agreement.

11.   Adjustments upon Changes in Capitalization.

            (a) Each Agreement may contain such provisions as the Committee
shall determine to be appropriate for the adjustment of the number and class of
shares of Common Stock covered by such Option, the Option prices, and the number
of shares of Common Stock as to which Options shall be exercisable at any time,
in the event of changes in the outstanding Common Stock of the Corporation or
the number of shares of Common Stock to which any other class of stock of the
Corporation may be converted, by reason of stock dividends, split-ups,
split-downs, reverse splits, recapitalizations, mergers, consolidations,
combinations or exchanges of shares, spin-offs, reorganizations, liquidations,
and the like. In the event of any such change in the outstanding Common Stock of
the Corporation, the aggregate number of shares of Common Stock or the number of
shares of Common Stock to which any other class of stock of the Corporation may
be converted, as to which Options may be granted under the Director Stock Option
Plan and to any Director or member of an advisory committee of the Board of
Directors of the Corporation, shall be appropriately adjusted by the Committee,
whose determination shall be conclusive. No adjustment shall be made in any
minimum number of shares of Common Stock which may be purchased at any time.

            (b) In the event of the dissolution, liquidation, merger,
reorganization, separation or consolidation of the Corporation or its parent
corporation, or a sale of all or substantially all of the assets or stock of the
Corporation or its parent corporation, or the disposition by the Corporation of
substantially all of the assets or stock of a subsidiary corporation, and the
Holder is then a Director or a member of an advisory committee to the Board of
Directors of such corporation, then, if the Committee shall so determine, each
Option under the Director Stock Option Plan, if such event shall occur with
respect to the Corporation or its parent corporation, or each Option granted to
a Director or member of an advisory committee to the Board of Directors of the
Corporation, a parent or a subsidiary respecting which such event shall occur,
shall terminate simultaneously with the happening of such event, and the
Corporation shall pay the Holder in lieu thereof an amount equal to (i) the
difference between the fair market value of one share of Common Stock on the
date of such change, less the Option price per share of Common Stock, multiplied
by (ii) the number of shares subject to the Option, without regard to whether
the Option is then otherwise exercisable.


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12.   Effectiveness of the Director Stock Option Plan.

            The Director Stock Option Plan shall become effective on the date
that it is adopted by the Board of Directors and ratified in accordance with
applicable law by a vote of not less than two-thirds of the stockholders
entitled to vote thereon. At any time commencing on the date of the adoption of
this Director Stock Option Plan by the Board of Directors and its ratification
by the stockholders, the Committee may, in its discretion, grant Options under
the Director Stock Option Plan, the exercise of which shall be expressly subject
to the conditions that at the time of exercise a Registration Statement under
the Securities Act of 1933 (the "Act") with respect to such shares shall be
effective, or other provision satisfactory to the Committee shall have been made
so that shares may be issued without violation of the Act or applicable state or
foreign securities laws. If the shares of the Common Stock issuable upon
exercise of an Option are not registered under the Act, and if the Committee
shall deem it advisable, the Holder may be required to represent and agree in
writing (i) that he or she will be acquiring such shares for his or her own
account and not with a view to the distribution thereof, (ii) that any shares of
Common Stock acquired pursuant to the Director Stock Option Plan will not be
sold except pursuant to an effective registration statement under the Act or an
exemption from the registration provisions of the Act and in accordance with
applicable state or foreign securities laws, and (iii) that the Holder accepts
such restrictions on transfer of such shares (including, without limitation, the
affixing to any certificate representing such shares of an appropriate legend
restricting transfer of such shares), as the Corporation may reasonably impose
under the Act or applicable state or foreign securities laws.

13.   Termination and Amendment of the Director Stock Option Plan.

            The Board of Directors of the Corporation may, at any time prior to
the termination of the Director Stock Option Plan, suspend, terminate, modify or
amend the Director Stock Option Plan; provided that any increase in the
aggregate number of shares of Common Stock reserved for issue upon the exercise
of Options, any increase in the maximum number of shares for which Options may
be granted to any person during any period, any reduction in the purchase price
of the Common Stock covered by any Option, any extension of the period during
which Options may be granted or exercised, any change in the formula for
determining the amount payable upon exercise of the Option, or any material
modification in the requirements as to eligibility for participation in the
Director Stock Option Plan, shall be subject to the approval of stockholders in
the manner provided in Paragraph 12, except that any such increase, reduction,
or change that may result from adjustments authorized by Paragraph 11 or
adjustments based on revisions to the Code (to the extent permitted by such
authorities) shall not require such approval, and further, shall be subject to
the limitations set forth in Paragraph 2. No suspension, termination,
modification, or amendment of the Director Stock Option Plan may, without the
express written consent of the Holder of an Option, adversely affect the rights
of such Holder under such Option.

14.   Financing for Investment in Stock of the Corporation.

            Upon exercise by a Holder of an Option, the Board of Directors may
cause the Corporation or any subsidiary to give or arrange for financing,
including direct loans, secured or unsecured, or guaranties of loans by banks,
which loans may be secured in whole or in part by assets of the Corporation or
any subsidiary, to any person who shall have served as a Director or member of
an advisory committee to the Board of Directors of the Corporation, a parent
corporation of the Corporation or subsidiary corporation of the Corporation for
a period of at least six months at the end of the fiscal year last ended
immediately prior to arranging such financing; but the Board of Directors may,
in any specific case, authorize financing for any person who shall not have
served for such a period. Such financing shall be for the purpose of providing
funds for the purchase by the person pursuant to the exercise of an Option
and/or for payment of taxes incurred in connection with its exercise, and/or for
the purpose of otherwise purchasing or carrying a stock investment in the
Corporation. The maximum amount of liability incurred by the Corporation and its
subsidiaries in connection with all such financing outstanding shall be
determined from time to time in the sole and absolute discretion of the Board of
Directors. Each loan shall bear interest at a rate determined by the Committee
provided that such rate of interest shall not be less than the lowest rate which
avoids imputation of interest at a higher rate under the Code. Each recipient of
such financing shall be personally liable for the full amount of all financing
extended to him or her. Such financing shall be based upon the judgment of the
Board of Directors that such financing may reasonably be expected to benefit the
Corporation, and that such financing as may be granted shall be consistent with
the Certificate of Incorporation and bylaws of the Corporation or a parent or
subsidiary corporation of the Corporation, and applicable laws.


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If any such financing is authorized by the Board of Directors, it shall be
administered by the Committee.

15.   Withholding.

            In the discretion of the Committee, the Corporation's obligation to
deliver the Common Stock upon the exercise of an Option shall be subject to the
Holder's satisfaction of all applicable federal, state, and local income and
employment tax obligations.

16.   Severability.

            In the event that any one or more provisions of the Director Stock
Option Plan or any Agreement, or any action taken pursuant to the Director Stock
Option Plan or such Agreement, should, for any reason, be unenforceable or
invalid in any respect under the laws of the United States, any state of the
United States or any other government, such unenforceability or invalidity shall
not affect any other provision of the Director Stock Option Plan or of any
Agreement but in such particular jurisdiction and instance the Director Stock
Option Plan and the affected Agreement shall be construed as if such
unenforceable or invalid provision had not been contained therein or if the
action in question had not been taken thereunder.

17.   Applicable Law.

            The Director Stock Option Plan shall be governed by, and
interpreted, construed and applied in accordance with, the laws of the State of
New Jersey.

18.   Miscellaneous.

            1. The terms "parent corporation" and "subsidiary corporation" shall
have the meanings set forth in Sections 425(e) and (f) of the Code,
respectively.

            2. The term "Holder" means a member of the Board of Directors of the
Corporation and/or a member of an advisory committee to the Board of Directors,
as the case may be, of the Corporation, a parent corporation, or a subsidiary
corporation thereof who is granted an Option under the Director Stock Option
Plan and any person who is entitled to exercise such Holder's Option pursuant to
paragraphs 9 or 10.


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