Unity Bank Added to Membership of US Small-Cap Russell 2000 Index
CLINTON, N.J. (July 12, 2022) – Unity Bancorp, Inc. (Nasdaq: UNTY), parent company of Unity Bank, was added as a member of the U.S. small-cap Russell 2000® Index, widely regarded as a bellwether of the U.S. economy due to its focus on American small businesses.
The Russell 2000® membership became effective on June 27th, as part of the 2022 Russell indexes reconstitution. Membership in the Russell 2000® Index, which remains in place for one year, is based on membership in the broad-market Russell 3000® Index. Unity’s stock also was automatically added to the appropriate growth and value indexes. Unity holds approximately $2.1 billion in assets and $1.8 billion in deposits.
“We are extremely pleased to have been added as a member of the Russell 2000® Index as it illustrates Unity’s continued financial strength and performance,” said Unity Bank President & CEO James A. Hughes. “We measure the bank’s performance on both financial metrics and Unity’s ability to come together with our customers to fulfill their needs and deliver extraordinary service. The bank’s mission is to grow with the communities we serve and the dedication of Unity’s employees and the loyalty and trust of our customers help the bank achieve those goals everyday.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 2000® Index and the Russell indexes reconstitution, please visit https://www.ftserussell.com/resources/russell-reconstitution.
About Unity Bancorp, Inc.
Unity Bancorp, Inc. (Nasdaq: UNTY), the parent company of Unity Bank, its primary and wholly owned subsidiary, is a financial services organization headquartered in Clinton, New Jersey. Unity Bank provides financial services to businesses and consumers at 19 branches throughout New Jersey and the Lehigh Valley, Pennsylvania. Unity Bank provides community-oriented commercial banking services, including deposit accounts, loans, online and mobile services. For more information, please visit unitybank.com or call 800-618-BANK (800-618-2265).
About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell is wholly owned by the London Stock Exchange Group. For more information, please visit ftserussell.com.