CLINTON, N.J., March 13, 2013 /PRNewswire/ -- Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, today announced the passing of Director Charles S. Loring. Mr. Loring passed away on March 8, 2013, at the age of 71.
James A. Hughes, President and CEO, stated "I am deeply saddened by the death of Mr. Loring. Mr. Loring was a founding member of Unity Bancorp, Inc., and ran a successful CPA firm in Bridgewater for over forty years. Mr. Loring will be missed greatly. On behalf of Unity Bancorp, Inc., I wish to extend our deepest condolences to his family and friends."
Unity Bancorp, Inc. is a financial service organization headquartered in Clinton, New Jersey, with approximately $820 million in assets and $649 million in deposits. Unity Bank provides financial services to retail, corporate and small business customers through its 15 retail service centers located in Hunterdon, Middlesex, Somerset, Union and Warren Counties in New Jersey and Northampton County, Pennsylvania. For additional information about Unity, visit our website at www.unitybank.com, or call 800- 618-BANK.
This news release contains certain forward-looking statements, either expressed or implied, which are provided to assist the reader in understanding anticipated future financial performan ce. These statements may be ident ified by use of t h e words "believe", "expec t", "intend", "anticipate", "estimate", "project" or similar expressions. These statements involve certain risks, uncertainties, estimates and assumptions made by management, which are subject to factors beyond the company's control and could impede its ability to achieve these goals. These factors include those items included in our Annual Report on Form 10-K under the heading "Item IA-Risk Factors" as well as general economic conditions, trends in interest rates, the ability of our borrowers to repay their loans, our ability to manage and reduce the level of our nonperforming assets, and results of regulatory exams, among other factors.SOURCE Unity Bancorp, Inc.