Unity Bank Opens Fort Lee Branch, Enhancing Bergen County Financial Services

Rhea-AI Summary

Unity Bank has expanded its footprint by opening a new branch in Fort Lee, New Jersey, bringing its total to 20 branches. The new facility located at 899 Palisade Avenue aims to enhance retail services, especially for small businesses in the area. This branch offers dedicated parking, drive-up banking, and ATM services, and features local artwork to reflect community engagement. Unity Bank, with assets of $2.4 billion and deposits of $1.8 billion, continues its commitment to providing essential banking services to various communities across New Jersey and Pennsylvania.

Positive

• Opened new branch in Fort Lee, increasing total branches to 20.
• Enhanced retail presence in Bergen County, targeting small business owners.
• Strong financial position with $2.4 billion in assets and $1.8 billion in deposits.

Negative

• None.

Community Bank Now Manages 20 Branches in New Jersey & Lehigh Valley, Pa.

FORT LEE, N.J., Feb. 06, 2023 (GLOBE NEWSWIRE) -- Unity Bank has opened a new full service branch in Fort Lee, increasing its service footprint to 20 branches and enhancing its retail presence in Bergen County. The new branch is located at 899 Palisade Avenue at the intersection with Columbia Avenue.

“We are committed to Bergen County and Fort Lee is a natural fit to our footprint,” said Unity Bank President & CEO James A. Hughes. “Banking services at the branch level are increasingly important to our customers, particularly small business owners who still, even in the age of electronic banking, rely on branches. Community banks are engines for economic growth and we are focused on bringing that drive to Bergen County.”

Unity is bringing a local flavor to the 1890 square foot branch. The facility features the abstract landscape oil paintings of Bergen County artist Sol Zaretsky of Teaneck. Unity purchased several of Zaretsky’s paintings through its program to support local artists in communities where it has branches.

The facility, previously operated by another bank, includes dedicated parking and drive-up banking and ATM services. Surrounding businesses include an insurance company, salon and a dentist.

Ryan Peene, Unity Bank’s Senior Vice President/Chief Depository Officer, who is well known in the Bergen County and Hudson County communities for his leadership roles on the City of Hoboken Planning Board and Greater Bergen Community Action, leads the development of the Fort Lee branch and all of Unity’s retail banking operations. The Fort Lee team also includes Franca Fabrizio, Area Manager; Sunita Pereira, Operations Manager; Vince Forma, Commercial Lender; Kathleen Hay, SBA Lender; and Mortgage Lenders Nicholas Aversa and Pasquale Grande.

Fort Lee is the second new branch opened by Unity in the last two months. In December, the bank opened a branch in Lakewood in Ocean County. Unity Bank now provides financial services to retail, corporate and small business customers in Bergen, Hunterdon, Middlesex, Ocean, Somerset, Union and Warren Counties in New Jersey and Northampton County in Pennsylvania. The bank holds about $2.4 billion in assets and $1.8 billion in deposits.

“Unity is committed to supporting small businesses and families,” said Hughes. “The new branches are bringing our full suite of products and services to the local marketplace. We are helping launch small businesses, grow existing companies and enable families to purchase a house, or put an addition on their existing home.”

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 20 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/dec6936f-3d1d-4aad-8291-66f677fa2210

FAQ

When did Unity Bank open its new branch in Fort Lee?

Unity Bank opened its new Fort Lee branch on February 6, 2023.

What is the significance of Unity Bank's new branch in Fort Lee?

The new branch enhances Unity Bank's retail presence in Bergen County and supports small businesses.

How many branches does Unity Bank manage now?

Unity Bank now manages a total of 20 branches.

What are Unity Bank's total assets and deposits?

Unity Bank has approximately $2.4 billion in assets and $1.8 billion in deposits.

Where is the new Unity Bank branch located?

The new branch is located at 899 Palisade Avenue, Fort Lee, New Jersey.