Unity Bank is opening a new full-service branch at 66 North Beverwyck Road in Lake Hiawatha, the community bank’s first location in Morris County. — Courtesy: Unity Bank
By Joshua Burd
Unity Bank is expanding to yet another county in New Jersey with a planned branch opening in the Lake Hiawatha section Parsippany.
The lender, which is based in Clinton, said the 3,864-square-foot location at 66 North Beverwyck Road is slated to open this summer. The move will bring its retail banking presence to 21 branches in Bergen, Hunterdon, Middlesex, Morris, Ocean, Somerset, Union and Warren counties in New Jersey and Northampton County in Pennsylvania.
It also marks Unity’s third announcement since December of a new retail banking site in the Garden State, following openings in Fort Lee and Lakewood. The latter served as its entrance to Ocean County.
“The bank’s business and residential lending programs have been active in Morris County for some time, making the new branch a logical expansion of our retail service footprint,” said James A. Hughes, the bank’s CEO and president. “The Morris County population is growing and we believe there is a good opportunity to enhance our residential mortgage lending business. 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.”
The new North Beverwyck Road facility will occupy a space that housed another bank, according to a news release. The branch will include six dedicated parking spaces and drive-up banking and ATM services.
Unity holds about $2.5 billion in assets and $1.8 billion in deposits.