Unity Bancorp, Inc. reports banking developments as the New Jersey bank holding company and financial holding company for Unity Bank. Unity Bank provides community-oriented commercial banking services to retail, corporate and small business customers, including deposit accounts, lending, credit cards and automated teller services through branches in New Jersey and Northampton County, Pennsylvania.
Company news commonly covers quarterly earnings, net interest income, net interest margin, loan growth, deposits, credit-loss provisions, cash dividends on common shares, capital management and governance updates. Releases also describe Unity Bank’s operating performance and branch-market activity within its regional banking franchise.
Unity Bancorp (UNTY) reported net income of $17.4 million for the third quarter of 2026, up from the preceding quarter. Diluted earnings per share were $1.70, compared with $1.42 for the quarter ended June 30, 2026, when net income was $14.5 million. A completed purchase of transferable federal investment tax credits reduced tax expense and provided a one-time $2.5 million earnings benefit.
For the nine months ended September 30, 2026, net income was $46.1 million, or $4.52 per diluted share, compared with $42.5 million, or $4.15 per diluted share, a year earlier. Unity said loans and deposits grew, net interest income increased, net interest margin expanded and asset quality improved during the quarter, while deposit gathering remained competitive. A leadership transition to President George Boyan is planned for next year.
Unity Bank (UNTY) will hold its 20th Anniversary Charity Car Show on October 4, 2026, benefiting two local Family Promise organizations. The event runs from 10:00 am to 2:00 pm at the bank's corporate headquarters in Clinton, New Jersey. All proceeds will support Family Promise of Warren County and Family Promise of Hunterdon County in assisting families experiencing or at risk of homelessness. Spectator admission is free.
Unity Bancorp (UNTY) CEO James A. Hughes will retire from the company and Unity Bank on March 31, 2027.
Current president George Boyan will succeed him as CEO of both entities on April 1, 2027, and remain president, a role he has held since January 1, 2026. The boards unanimously selected Boyan after a multi-year succession process. Hughes will continue serving on both boards after more than 26 years with Unity.
During Hughes’ tenure, total assets grew from approximately $356.0 million to $3.2 billion, and book value per share increased more than 8.5 times since his start date. Compounded annualized shareholder returns were approximately 17.0% during his leadership tenure. Market capitalization grew from approximately $7.4 million to more than $575 million, and the bank expanded to 22 branches across New Jersey and Pennsylvania.
Unity Bancorp (NASDAQ: UNTY) announced that its Board declared a quarterly cash dividend of $0.17 per common share, a 6% increase. The dividend will be paid on September 17, 2026 to shareholders of record as of September 3, 2026. Unity reports approximately $3.2 billion in assets and $2.5 billion in deposits.
Unity Bancorp (NASDAQ: UNTY) announced the passing of Robert ("Bobby") H. Dallas II, a founding member of Unity Bank and a director on the company’s Board since inception. He was also the brother of Chairman David D. Dallas. The company credits Mr. Dallas with helping guide Unity’s evolution from a community bank startup into a leading independent banking franchise in New Jersey, emphasizing his leadership, integrity, and commitment to customers, communities, employees, and shareholders over more than three decades of service.
According to Unity Bancorp, the Board and management are grateful for his many years of dedicated service and intend to honor his memory by upholding the values he championed. The company reports approximately $3.2 billion in assets and $2.5 billion in deposits, serving retail, corporate, and small business customers across multiple New Jersey counties and Northampton County, Pennsylvania.
Unity Bancorp (NASDAQ: UNTY), parent of Unity Bank, has been approved by the New Jersey Economic Development Authority Board as a participant in the NJEDA Premier Lender Program. The partnership allows NJEDA to guarantee or participate in portions of Unity Bank’s commercial loans and lines of credit, aiming to expand affordable financing access for qualifying small businesses across New Jersey and support regional economic development.
Unity Bancorp (NASDAQ: UNTY) reported net income of $14.5 million, or $1.42 per diluted share, for the quarter ended June 30, 2026, up from $14.3 million, or $1.40 per diluted share, for the prior quarter.
For the first six months of 2026, net income was $28.8 million, or $2.82 per diluted share, compared with $28.1 million, or $2.74 per diluted share, for the same period in 2025. According to Unity Bancorp, second-quarter performance generated a 2.01% return on average assets, a 15.86% return on average equity, and a 4.56% net interest margin, supported by balanced loan and deposit growth and what the company describes as robust capital and liquidity.
Unity Bancorp reported approximately $3.2 billion in assets and $2.5 billion in deposits, serving New Jersey and Pennsylvania markets through its branch network.
Unity Bank (NASDAQ: UNTY) appointed Sara M. Sooy and Alfred J. Gaburo to its Board of Directors, effective June 11, 2026.
Sooy adds expertise in banking, audit, risk, and real estate finance, while Gaburo contributes more than 30 years in public affairs, government relations, and economic development, supporting Unity Bank’s governance and regional community focus.
Unity Bancorp (NASDAQ: UNTY) declared a cash dividend of $0.16 per common share. The dividend is payable on June 18, 2026 to shareholders of record as of June 4, 2026.
Unity Bancorp is a New Jersey-based financial services company with about $3.0 billion in assets and $2.4 billion in deposits.
Unity Bancorp (NASDAQ: UNTY) reported net income of $14.3 million for the quarter ended March 31, 2026, or $1.40 per diluted share, with a 2.04% return on average assets and 16.38% return on average equity.
Net income rose 23.2% year-over-year; gross loans and core customer deposits increased modestly versus year-end 2025. Total assets approximate $3.0 billion with $2.4 billion in deposits.