Unity Bank Board Vice Chairman Allen Tucker Retires, Succeeded by Son Aaron

Rhea-AI Summary

Unity Bancorp has announced the retirement of Allen Tucker, who served as Vice Chairman since 1995. Tucker, 95, has had a significant impact on the company and its community, being recognized for his leadership. His son, Aaron Tucker, has succeeded him as Vice Chairman. Unity Bank currently holds approximately $2.1 billion in assets and $1.8 billion in deposits, providing various financial services through its 19 branches in New Jersey and Pennsylvania. The company looks forward to future growth under its experienced leadership.

Positive

• Allen Tucker's long tenure provided stability and experience to Unity's board.
• Aaron Tucker's succession ensures continuity in leadership.
• Unity Bank holds substantial assets ($2.1 billion) and deposits ($1.8 billion), indicating strong financial health.

Negative

• None.

Active in Banking and Real Estate for More than 50 Years, Allen Tucker Served as a Unity Director since 1995

CLINTON, N.J., April 28, 2022 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, today announced that Allen Tucker, 95, has retired as Vice Chairman of its Board of Directors. Tucker had been a member of the Unity Board since 1995.

“Allen Tucker has been a cherished member of the Unity family for nearly three decades,” said Unity Bank President & CEO James A. Hughes. “Allen’s commitment to the Unity Board, investors, employees, and the community has truly been inspiring. We are forever indebted to Allen for the wisdom and guidance he has provided.”

The Founder & Chairman of Tucker Enterprises of Clark, Tucker has been active in the real estate and banking communities for more than 50 years. In 2000, Unity Bank created the Allen Tucker Award to honor employees that demonstrate outstanding service to both internal and external customers.

“I have many great memories from my experiences with Unity over the years,” said Tucker, a U.S. Navy Veteran of World War II. “I particularly enjoyed attending the Unity Bank employee holiday party where the Allen Tucker Service Award was presented each year. The naming of the award has always been a very special honor. I have been fortunate to develop many long lasting relationships and friendships with the bank community over the years, which is why I have remained as a Unity Director.”

Tucker’s son Aaron, 59, a Unity Director since 2014, has succeeded his father as Vice Chairman of the Unity Board. Aaron Tucker is President & CEO of Tucker Enterprises, a diversified, privately held real estate company that has owned, developed, constructed, and managed over one million square feet of industrial, residential, office, and commercial properties along the east coast.

“I feel very proud of where Unity is headed, the bank is like my second home,” said Allen Tucker. “It feels like the right time to pass the torch to the next generation of leaders. The future is bright for Unity. By virtue of the quality and experience of the Board, the maturation of our senior staff and the energy of our talented employees, the bank is well positioned to take advantage of every opportunity that may present itself.”

Unity Bank holds about $2.1 billion in assets and $1.8 billion in deposits.

About Unity Bancorp, Inc.
Unity Bancorp, Inc. (Nasdaq: UNTY), the parent company of Unity Bank, its primary and wholly owned subsidiary, is a financial services organization headquartered in Clinton, New Jersey. Unity Bank provides financial services to businesses and consumers at 19 branches throughout New Jersey and the Lehigh Valley, Pennsylvania. Unity Bank provides community-oriented commercial banking services, including deposit accounts, loans, online and mobile services. For more information, please visit unitybank.com or call 800-618-BANK (800-618-2265).

MEDIA CONTACT:
Fred Feiner
Yankee Public Relations
(908) 425-4878
fred@yankeepr.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c07e7ecf-b5c2-4330-86eb-e0bdbe38787f

FAQ

Who recently retired from Unity Bancorp's Board of Directors?

Allen Tucker retired as Vice Chairman of Unity Bancorp's Board of Directors.

Who succeeded Allen Tucker as Vice Chairman of Unity Bancorp?

Aaron Tucker succeeded his father, Allen Tucker, as Vice Chairman of Unity Bancorp.

What are Unity Bancorp's total assets and deposits?

Unity Bancorp holds approximately $2.1 billion in assets and $1.8 billion in deposits.

How long did Allen Tucker serve on Unity Bancorp's Board?

Allen Tucker served on Unity Bancorp's Board since 1995.

What significant award did Unity Bank create in honor of Allen Tucker?

Unity Bank created the Allen Tucker Award to honor employees for outstanding service.