Unity Bancorp, Inc.

, Sept. 23, 2026 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ: UNTY) and its wholly owned subsidiary, Unity Bank, today announced that James A. Hughes will retire from his position as Chief Executive Officer of the Company and the Bank effective March 31, 2027, following more than 26 years of dedicated service. Mr. Hughes will continue to serve on the Boards of Directors of both Unity Bancorp, Inc. and Unity Bank following his retirement. As part of a deliberate, multi-year succession planning process, the Boards unanimously selected current President George Boyan to succeed Mr.

Hughes as Chief Executive Officer effective April 1, 2027. Mr. Boyan will continue to serve as President of the Company and the Bank, a position he has held since January 1, 2026. During his tenure with Unity, he has held key executive leadership responsibilities and has been a key contributor to the Company’s growth, commercial banking expansion, operational performance, and talent development initiatives. During Mr. Hughes’ tenure, Unity achieved significant growth, enhanced shareholder value, expanded its presence across New Jersey and Pennsylvania, strengthened its commercial and retail banking capabilities, and established itself as a leading community banking institution.

Under his leadership, Unity remained committed to relationship-based banking while delivering strong financial performance and fostering a culture centered on customer service, integrity, accountability, and community involvement. "Jim Hughes has left an indelible mark on Unity." said David D. Dallas, Chairman of the Board. "His vision, integrity, and commitment to community banking have shaped our organization and positioned it for long-term success. On behalf of the Boards of Directors, I thank Jim for his extraordinary leadership and more than 26 years of dedicated service to our customers, employees, shareholders, and communities.

” "It has been the privilege of a lifetime to serve Unity, our customers, our shareholders, our employees, and the communities we serve,” said James A. Hughes. “I am incredibly proud of what we have accomplished together over the past 26 years. Unity’s success has always been driven by the dedication of our employees and our commitment to building meaningful relationships with our customers. I have complete confidence in Unity’s future and in George’s ability to lead the organization through its next chapter. ” "George is the right leader to guide Unity forward,” said Dallas.

“He has a deep understanding of our business, culture, markets, and strategic priorities. His selection reflects the strength of our succession planning process and the Boards’ confidence in Unity’s future. We are confident that George will build upon the strong foundation established under Jim’s leadership while preserving the relationship-based banking model that has been central to Unity’s success." "I am honored by the Boards’ confidence and grateful for Jim’s mentorship, leadership, and friendship over the years,” said George Boyan. “Unity has an exceptional team, a strong culture, and a proven relationship-based banking model.