Unity Bancorp, Inc. and Unity Bank Announce Retirement of CEO James A. Hughes and Planned Leadership Succession

CLINTON, N.J., 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.