Unity Bancorp Reports Quarterly Earnings of $14.3 Million
Clinton, NJ -- Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, reported net income of $14.3 million, or $1.40 per diluted share, for the quarter ended March 31, 2026, compared to net income of $15.5 million, or $1.52 per diluted share for the quarter ended December 31, 2025
James A. Hughes, CEO, commented on the financial results:
“We are pleased to report another strong quarter for Unity Bancorp, Inc., highlighted by solid profitability and continued execution of our organic growth strategy. For the quarter, we delivered net income of $14.3 million, or $1.40 per diluted share, producing a 2.04% return on average assets and a 16.38% return on average equity. These results represent a $2.7 million, or 23.2%, increase in net income compared to the same period last year, and reflect the underlying strength of our balance sheet and core earnings power.
We entered 2026 with positive momentum, and during the first quarter we achieved balanced, organic growth on both sides of the balance sheet. As compared to year-end 2025, gross loans increased $56.9 million, or 2.2%, while total customer deposits, excluding brokered deposits, grew $58.7 million, or 2.9%, underscoring the continued success of our relationship-based banking model. As we move forward, we remain focused on growing loans and deposits in tandem, deepening customer relationships and supporting economic activity in the communities we serve.
While broader economic and geopolitical conditions have contributed to periods of market volatility, loan demand across our footprint remains healthy, sustained by ongoing economic development in our core markets. At the same time, we continue to invest in delivering an exceptional customer experience through targeted product and technology initiatives, including the rollout of a new online banking platform. These investments are intended to expand our digital capabilities, improve operational efficiency and support long-term, sustainable growth as we continue to serve our customers.”
For the full version of the Company's quarterly earnings release, including financial tables, please visit 2026 Q1 Earnings
Displaying results 1 - 1 (of 1)