The Bank Slate


Black-owned bank in Houston lands $50M investment

Unity National Bank of Houston has received a $50 million investment from Baker Hughes, an energy technology company.

Baker Hughes said in a press release that the investment in the $215 million-asset Black-owned bank came in the form of a $50 million deposit in J.P. Morgan Asset Management’s Empower share class.

“We have a responsibility to improve and support the communities in which we live and work,” Nancy Buese, Baker Hughes’ chief financial officer, said in the release.

“As part of our commitment to increase supplier diversity and create lasting and sustainable change, this investment will enable Unity Bank to increase its offerings and drive meaningful impact within the communities it serves,” Buese added.

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