Leadership & Pay ·
Unity Bancorp announced that CEO James A. Hughes will retire effective March 31, 2027, following over 26 years of…
UNTYUnity Bancorp Inc
Unity Bancorp announced that CEO James A. Hughes will retire effective March 31, 2027, following over 26 years of service. President George Boyan will succeed him as Chief Executive Officer on April 1, 2027, while Hughes remains on the Board. The transition involves a SERP amendment increasing Hughes' retirement benefit from 60% to 65%, triggering a one-time pre-tax expense of $769 thousand in Q3 2026. Under Hughes, assets grew from $356 million to $3.2 billion and market capitalization exceeded $575 million. The company operates as a community bank providing commercial banking services across New Jersey and Pennsylvania.