HOUSTON, July 6, 2005 (PRIMEZONE) -- A local business group led by Dr. Lee P. Brown, the former Houston mayor, and Kase L. Lawal, chairman and chief executive officer of CAMAC International Inc., signed an agreement to acquire approximately 21 percent interest in Unity National Bank, officials announced today.
Brown and Lawal will join the bank's board of directors and will work to expand Unity National Bank's financial services network and capital, to provide new financial products, and to enhance customer service. Unity National Bank is a nationally chartered financial institution and the only African-American owned bank in the state of Texas.
"As valued members of the community, Brown and Lawal will bring leadership and vision to build growth and expand access for Unity stockholders and customers," Unity Board Chairman Limas Jefferson said.
Tommy Brooks, interim president and CEO of Unity National Bank, said, "We are excited about the changes taking place and the opportunities that will present themselves with Mr. Brown and Mr. Lawal on board." Brooks noted, "I believe they will re-energize both the bank and the community we serve."
Dr. Brown was elected mayor of Houston in 1997, and was re-elected twice. He left office in 2004, and is currently chairman and CEO of Brown Group International and serves as a non-executive director of CAMAC International Inc. He is also a former Houston police chief and a former police commissioner of New York City, who pioneered the concept of community policing. Following a long career in law enforcement in many parts of the U.S., Brown served as President Clinton's drug czar (Director of the White House Office of National Drug Control Policy). Dr. Brown is also a former Rice University professor and scholar.
Kase Lawal is chairman and chief executive officer of CAMAC International Inc., a multi-national corporation with approximately $1 billion in revenue in 2004, primarily in oil and gas exploration, production and energy trading. He also serves as the chairman of Allied Energy Corporation, a subsidiary of CAMAC International. In addition, Mr. Lawal was appointed vice chairman of the Port of Houston Authority Board, the largest foreign tonnage seaport in the United States, and vice chairman of the Houston Airport System Development Corporation.
Unity National Bank currently has three Houston area locations.
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