Incorporated on June 30, 1982, with Juan M. Cofield as its leading founder and president from 1982-1983, Boston Bank of Commerce is the only fully insured Black-owned and operated bank in Boston and New England. A successor to Unity Bank and Trust, Boston's first Black-owned Bank, the Boston Bank of Commerce is unique in its outreach and service to religious, academic, social service, health and human service agencies and organizations. Under the leadership of Ronald A. Homer, who became president and chief executive officer in June 1983, a winning investment strategy has been showing an annual growth rate of 30 percent. Commenting on the $70 million bank with its record of consistent profitability, growth, and service, Homer anticipates 'that our most significant contribution to community reinvestment . . . is destined to become a national model for neighborhood revitalization and minority business opportunity.' The bank has been named 'Bank of the Year' by Black Enterprise magazine and 'One of New England's Ten Best' by the Boston Herald.