FDIC terminates July 2020 consent order against Unity Bank effective Nov 22, 2022

UNITY BANCORP INC /NJ/

FDIC advised Unity Bank on Nov 23, 2022 that the Consent Order issued July 8, 2020 was terminated.
Termination effective November 22, 2022.
Unity Bank is a wholly owned subsidiary of Unity Bancorp, Inc. (UNTY).
The consent order had been in place since July 2020; its removal lifts regulatory restrictions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

UNITY BANCORP INC /NJ/ terminated Consent Order with Federal Deposit Insurance Corporation (FDIC) valued at Terminated (effective 2022-11-22).

Action: termination
Counterparty: Federal Deposit Insurance Corporation (FDIC)
Value: Terminated
Effective: 2022-11-22

Exact text from the filing

On November 23, 2022, the Federal Deposit Insurance Corporation (“FDIC) advised Unity Bank (the “Bank”), a wholly owned subsidiary of Unity Bancorp, Inc. (the “Company”), that the Consent Order issued on July 8, 2020 against Unity Bank was terminated effective November 22, 2022.

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Source: SEC EDGAR

accession 0000920427-22-000071

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