Welcome to our dedicated page for Unity Bancorp news (Ticker: UNTY), a resource for investors and traders seeking the latest updates and insights on Unity Bancorp stock.
Unity Bancorp, Inc. (NASDAQ: UNTY), the bank holding company for Unity Bank, regularly issues news and updates related to its community‑oriented commercial banking operations. As a financial services organization headquartered in Clinton, New Jersey, Unity Bancorp uses news releases to report on earnings, dividends, branch expansion and recognition within the small bank sector.
Company earnings announcements provide details on net income, return on average assets, return on average equity, loan growth, deposit growth, net interest margin and credit quality. These releases often include management commentary on balance sheet trends, lending pipelines and specific items affecting results, such as gains or losses related to securities or the performance of particular credit relationships.
Unity Bancorp also publishes news about its capital return practices. Dividend announcements disclose cash dividends per common share, payable dates and shareholder record dates, and are often accompanied by Form 8‑K filings under Item 8.01 (Other Events). These items help investors track the company’s approach to returning capital to shareholders.
Branch expansion is another recurring theme in Unity Bancorp’s news. The company has highlighted the opening of new Unity Bank branches, such as a location in Madison, New Jersey, noting the resulting increase in its total number of branches and the extension of its retail banking footprint across New Jersey and into Northampton County, Pennsylvania.
In addition, Unity Bancorp reports on executive leadership changes and external recognition. News releases and related 8‑K filings describe promotions within the leadership team, appointments to the Boards of Directors and inclusion on the Hovde Group’s list of top‑performing small banks. Investors, customers and analysts can use this news feed to follow Unity Bancorp’s financial performance, governance developments and community banking growth.
Unity Bancorp (NASDAQ: UNTY) reported Q1 2025 net income of $11.6 million, or $1.13 per diluted share, showing a 0.8% increase from Q4 2024's $11.5 million. The company achieved a 1.83% ROA and 15.56% ROE.
Key highlights include strong Commercial and Residential lending growth of $84.5 million (3.74% increase) and customer deposit growth of $90.7 million (4.82% increase) quarter-over-quarter. The bank maintains approximately $2.8 billion in assets and $2.2 billion in deposits.
Unity Bank operates through its branch network across multiple New Jersey counties and Northampton County in Pennsylvania, focusing on retail, corporate, and small business customers while maintaining conservative loan-to-value and debt-service-coverage levels.
Unity Bancorp (NASDAQ: UNTY) has announced an 8% increase in its quarterly cash dividend to $0.14 per common share, up from $0.13 in the previous quarter. The dividend will be payable on March 28, 2025, to shareholders of record as of March 14, 2025.
The company, headquartered in Clinton, New Jersey, currently manages approximately $2.7 billion in assets and $2.1 billion in deposits. Unity Bank provides financial services through its branch network across multiple counties in New Jersey and Pennsylvania.
CEO James A. Hughes emphasized that this dividend increase reflects the company's strong financial health and positive outlook on growth and earnings, while maintaining a conservative capital position.
Unity Bancorp (NASDAQ: UNTY) reported strong financial results for Q4 and full-year 2024. The company achieved quarterly net income of $11.5 million ($1.13 per diluted share), up 5.5% from Q3 2024's $10.9 million. Full-year 2024 net income reached $41.5 million ($4.06 per diluted share), representing a 4.4% increase from 2023's $39.7 million.
Q4 2024 highlights include a 21 basis points expansion in net interest margin, achieved through a 20 basis points reduction in cost of funds and a 4 basis points increase in loan yield. Loan portfolio grew by $43.3 million (1.95%) quarter-over-quarter, while deposits increased by $54.2 million (2.65%). Notably, noninterest bearing demand deposits rose by $16.8 million (3.97%).
The company maintains a strong presence with approximately $2.7 billion in assets and $2.1 billion in deposits, serving retail, corporate, and small business customers across multiple counties in New Jersey and Pennsylvania.
Unity Bank has launched new electric vehicle (EV) charging stations at its Clinton, New Jersey headquarters, marking a significant step in its sustainability initiatives. The facility features Lynkwell DCFC chargers with four plugs and 60kW DC fast charging capabilities, allowing multiple vehicles to charge simultaneously. During charging sessions, visitors can enjoy complimentary beverages at the Unity Bank café during business hours, while employees and customers receive special charging fee discounts.
The installation, completed in collaboration with Encore Energy Group, aims to promote EV adoption and environmental sustainability. The charging stations are located at 64 Old Highway 22 in Clinton, NJ, and are now fully operational for public use.
Unity Bank announces that Amanda Roche, Vice President and Finance Department Supervisor, has been named a 2024 New Leader in Banking by the New Jersey Bankers Association. Roche, one of 22 banking professionals under 40 to receive this recognition, was selected through an impartial evaluation process focusing on leadership qualities, communication skills, and community service commitment. A licensed CPA who joined Unity Bank in 2022, Roche was honored at an awards ceremony on November 7, 2024, at The Stone House at Stirling Ridge in Warren, New Jersey.
Unity Bancorp (NASDAQ: UNTY) has announced a quarterly cash dividend of $0.13 per common share, payable on December 31, 2024, to shareholders of record as of December 13, 2024. The company, which operates through its subsidiary Unity Bank, has approximately $2.6 billion in assets and $2.0 billion in deposits. Unity Bank provides financial services across multiple counties in New Jersey and Pennsylvania through its branch network.
Unity Bancorp (NASDAQ: UNTY) reported record quarterly earnings of $10.9 million, or $1.07 per diluted share, for Q3 2024. This represents a 15.3% increase in net income and a 15.1% increase in net income per diluted share compared to Q2 2024. For the first nine months of 2024, net income remained stable at $29.9 million, with earnings per share increasing 2.1% to $2.94.
Key highlights include:
- Net interest margin expanded to 4.16%
- ROA of 1.76% and ROE of 15.55%
- Gross loans grew $46.9 million (2.2%) quarter-over-quarter
- Commercial loans increased $50.6 million (3.8%)
- Customer deposits grew $42.6 million (2.4%)
The company maintains strong profitability metrics across interest rate scenarios and continues to focus on supporting local communities through loan and deposit growth.
Unity Bank has awarded $50,000 in grants to five local businesses through the Federal Home Loan Bank of New York (FHLB) Small Business Recovery Grant (SBRG) Program. Each business received a $10,000 grant to help overcome challenges such as inflation, supply chain constraints, rising energy costs, and a volatile rate environment.
The grant recipients include:
- Isaac Simon Realty – Child Care Services, Brooklyn, NY
- Sontort Realty Holding – Full Service Restaurant, Flemington, NJ
- Lebanon Hotel – Full Service Restaurant, Lebanon, NJ
- Ionian Sky Inc. – Full Service Restaurant, Edison, NJ
- Statewide Environmental – Environmental Consulting Services, Bridgewater, NJ
Unity Bank's President & CEO, James A. Hughes, emphasized the importance of supporting small businesses as they are vital to the local economy. The bank's partnership with FHLB demonstrates its commitment to empowering small businesses and fostering community growth.
Unity Bank (UNTY) is hosting its 18th Annual Crusin' Bob's Classic Car Show on October 27th, 2024, from 10 a.m. to 2 p.m. at its Clinton headquarters. The event aims to benefit Family Promise of Warren County and Family Promise of Hunterdon County, with all proceeds going directly to these non-profits. Last year's show featured nearly 160 classic cars and set a new donation record. Car owners can pre-register for $15 by October 11th or register on the day for $20. The event will include entertainment, games, prizes, and food sales, with free admission for the public. Family Promise organizations provide services to help families overcome and prevent homelessness.
Unity Bancorp, Inc. (NASDAQ: UNTY) has achieved significant recognition in Bank Director magazine's Top 25 Banks ranking. The bank is now listed as the 13th best publicly traded bank nationally and 5th in Return on Assets (ROA) among banks with less than $5 billion in assets. This marks an improvement from its 21st position in 2022. Unity Bank's total assets have grown to approximately $2.6 billion, with deposits reaching $2.0 billion.
The ranking, published annually since 2017, evaluates banks based on balance growth, profitability, asset quality, long-term shareholder value, and safety. Unity's success is attributed to its growth strategy, including new branch openings, expanded service areas, and employee development initiatives. The bank's strong performance, particularly in profitability, has been highlighted by its high ROA ranking in its asset category.
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