Unity Bancorp approves share repurchase of up to 500,000 shares (5% of outstanding)

UNITY BANCORP INC /NJ/

Board authorized repurchase of up to 500,000 shares, approximately 5.0% of outstanding common stock.
Repurchases may be made in open market or private transactions; possible implementation under Rule 10b5-1 plan.
CEO cites commitment to shareholder returns and strong capital base, but will proceed cautiously due to economic conditions.
Company has ~$2.5B in assets and $1.8B in deposits; headquarters in Clinton, NJ.

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