July 15 2025
Unity Bancorp Reports Quarterly Earnings of $16.5 Million

Unity Bancorp Reports Quarterly Earnings of $16.5 Million

Clinton, NJ -- Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, reported net income of $16.5 million, or $1.61 per diluted share, for the quarter ended June 30, 2025, compared to net income of $11.6 million, or $1.13 per diluted share for the quarter ended March 31, 2025. For the six months ended June 30, 2025, Unity Bancorp reported net income of $28.1 million, or $2.74 per diluted share, compared to net income of $19.0 million, or $1.86 per diluted share, for the six months ended June 30, 2024. The increase in net income for the three and six months ended June 30, 2025 was partially attributable to pre-tax one-time gains of $3.5 million realized on the sale of securities and $2.0 million release for credit losses on securities, each related to securities of Patriot National Bancorp, Inc. held by the Company.

James A. Hughes, President & CEO, commented on the financial results:
“We are pleased to announce another record-breaking quarter for Unity Bancorp, Inc., with net income of $16.5 million, or $1.61 per diluted share. This performance reflects 2.51% ROA and 21.15% ROE.

This quarter’s results were positively impacted by one-time realized gains and provision release related to the previously disclosed non-performing $5 million par investment security. This investment, issued by Patriot National Bancorp Inc., benefited from a successful series of capital raises. We are pleased with the capital raise and Management’s new trajectory.

Excluding this one-time event, on a non-GAAP basis, we earned $12.2 million in net income, or $1.20 per diluted share, representing 1.86% ROA and 15.70% ROE. Net interest margin expanded 3 basis points to 4.49% in the second quarter.

Both Commercial and Residential lending teams continue to demonstrate exceptional origination capabilities. Loan balances grew by $37.5 million in the second quarter, representing a 1.6% increase from March 31, 2025 and a 5.4% increase from year-end. Our loan pipeline remains robust heading into the second half of the year, supported by highquality credits and disciplined pricing. Credit quality remains stable, with nonaccrual assets as a percentage of total assets declining 11 basis points to 0.54%, from the prior quarter. Additionally, total deposits have grown $12.0 million, or 0.6% from March 31, 2025, and 4.1% since year-end. We are excited to have announced our second Morris County, NJ location and we remain committed to growing loans and deposits in tandem.

We are very optimistic about Unity Bank’s future. Loan demand continues to be strong due to robust economic growth in our footprint. Recent inflation data indicates that prices have stabilized after several years of price increases, and as a result, the market is anticipating additional rate cuts this year. If those rate cuts occur, we might expect to see even stronger economic growth through the remainder of the year.”
 

Read Story: Unity Bancorp Reports Quarterly Earnings of $16.5 Million


July 8 2025
Somerset Shred Day

Unity Bank to Host ‘Shred Day’ at Somerset Branch on Saturday, July 12
Safely Dispose of Personal Documents to Guard Against Identity Theft

SOMERSET, NJ | July 2025 – Unity Bank invites local residents to its Somerset branch for a free Community Shred Day on Saturday, July 12, from 8:45 a.m. to 12:15 p.m. The event will take place at 120 Cedar Grove Lane, Somerset, New Jersey.
 

Read Story: Somerset Shred Day


June 24 2025
Madison, NJ Branch Coming Soon

Unity Bank Expands Branch Network with Opening of New Location in Madison, New Jersey
22nd Branch Enhances Unity Bank’s Community Banking Presence Across the Region
 
MADISON, NJ | June 20, 2025 – Unity Bank proudly announces the opening of its newest branch at 265 Main St, Madison, NJ. This expansion strengthens Unity Bancorp, Inc’s. (NASDAQ: UNTY) presence in the community, bringing the total number of branches to 22 and expanding its retail banking footprint across New Jersey and Pennsylvania.
 

Read Story: Madison, NJ Branch Coming Soon


April 28 2025
Somerset County Business Partnership

Somerset County Business Partnership Announces
Naming Rights Partnership with Unity Bank

Somerset Business Hub Now “Powered by Unity Bank”
at New Downtown Somerville Location

SOMERSET, NJ | APRIL 2025 - Somerset County Business Partnership (SCBP) is proud to announce a multi-year partnership agreement with Unity Bank, which includes exclusive naming rights to the Somerset Business Hub at its new location, 50 Division Street, in downtown Somerville. The partnership highlights Unity Bank’s dedication to supporting local businesses and fostering entrepreneurship within Somerset County.

Read Story: Somerset County Business Partnership


April 21 2025
Unity Named to Hovde List

 Unity Bank Recognized Again on Hovde Group’s High-Performer List
Bank earns spot for the third time in annual ranking of top-performing small banks
 
 

Read Story: Unity Named to Hovde List


April 11 2025
Unity Reports Quarterly Earnings of $11.6 Million

Clinton, NJ -- Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, reported net income of $11.6 million, or $1.13 per diluted share, for the quarter ended March 31, 2025, compared to net income of $11.5 million, or $1.13 per diluted share for the quarter ended December 31, 2024. This represents a 0.8% increase in net income.

Read Story: Unity Reports Quarterly Earnings of $11.6 Million


March 5 2025
Bauer 5-Star Rating

 
Unity Bank Rated 5-Stars for 9 Consecutive Quarters
 
Clinton, New Jersey - March 2025: Unity Bank, Clinton, NJ proudly acknowledges that it has, once again, received a 5-Star Superior rating from BauerFinancial, the Nation’s Premier Bank Rating Firm. A 5-Star Superior rating indicates that Unity Bank is one of the strongest banks in the nation, excelling in areas of capital, loan quality, profitability and more. This marks the 9th consecutive quarter that Unity Bank has earned this top rating.


 

Read Story: Bauer 5-Star Rating


January 16 2025
Unity Bank Donates $25,000 to Food Pantries

Unity Bank Donates Over $25,000 to Food Pantries Across New Jersey and Pennsylvania
Continuing Over a Decade of Holiday Giving Tradition
 
CLINTON, NJ | January 2025 -  In the spirit of giving, Unity Bank and its employees have donated over $25,000 to 21 food pantries across New Jersey and the Lehigh Valley, Pennsylvania. Each pantry received a $1,200 donation check, continuing the bank's longstanding commitment to supporting local communities during the holiday season.
 

Read Story: Unity Bank Donates $25,000 to Food Pantries


January 15 2025
Unity Reports Quarterly & Full Year Earnings

CLINTON, N.J., Jan. 15, 2025 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, reported net income of $11.5 million, or $1.13 per diluted share, for the quarter ended December 31, 2024, compared to net income of $10.9 million, or $1.07 per diluted share for the quarter ended September 30, 2024. This represents a 5.5% increase in net income and a 5.6% increase in net income per diluted share. For the twelve months ended December 31, 2024, Unity Bancorp reported net income of $41.5 million, or $4.06 per diluted share, compared to net income of $39.7 million, or $3.84 per diluted share, for the twelve months ended December 31, 2023. This represents a 4.4% increase net income and a 5.7% increase in net income per diluted share.

Read Story: Unity Reports Quarterly & Full Year Earnings


November 26 2024
Roche Named Rising Star

Unity Bank’s Amanda Roche Honored as a New Leader in Banking by NJ Bankers Association
Prestigious Recognition Celebrates Rising Stars in New Jersey’s Banking Industry
 
CLINTON, NJ | November 2024 -  Unity Bank proudly announces that Amanda Roche, Vice President and Finance Department Supervisor, has been recognized as a 2024 New Leader in Banking by the New Jersey Bankers Association (NJBankers). This esteemed award honors outstanding young professionals who are making significant contributions to the New Jersey banking sector.
 

Read Story: Roche Named Rising Star

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