Unity Bancorp Stock Price, News & Analysis

Unity Bancorp reported a net income of $9.5 million, or $0.90 per diluted share, for Q3 2021, reflecting a 64.2% increase compared to $5.8 million in Q3 2020. For the first nine months of 2021, net income surged to $26.4 million, or $2.50 per diluted share, a 61.8% increase from $16.3 million in the previous year. The company highlighted steady growth in loans and deposits, contributing positively to core earnings amidst ongoing pandemic effects.

Unity Bank president and CEO James A. Hughes will be honored at the Generations Gala on November 16, 2021, at The Palace at Somerset Park. This event, organized by the Adult Day Center (ADC) of Somerset County, aims to support vulnerable seniors and their families through fundraising. Unity Bank has been a key partner, providing funding for caregiver support and program expansion amid the Covid-19 pandemic. All proceeds from the gala will benefit ADC's programs and services, highlighting the importance of community support in enhancing care for those in need.

Unity Bancorp (NASDAQ: UNTY) has declared a cash dividend of $0.09 per common share, payable on September 24, 2021, to shareholders of record as of September 10, 2021. The company, headquartered in Clinton, New Jersey, has approximately $2.0 billion in assets and $1.6 billion in deposits, operating 19 retail service centers across New Jersey and Pennsylvania. Unity Bank serves retail, corporate, and small business clients, showcasing its strong market presence amidst evolving economic conditions.

Unity Bancorp, Inc. (NASDAQ: UNTY) reported a net income of $8.4 million or $0.80 per diluted share for Q2 2021, reflecting a 62.8% increase from $5.2 million or $0.47 per diluted share in Q2 2020. For the first half of 2021, net income reached $16.9 million or $1.60 per diluted share, up 60.5% from $10.5 million or $0.96 per diluted share in the same period last year. The company also highlighted strong demand for loans and a robust outlook for mortgage and SBA lending as the economy rebounds from the pandemic.

Unity Bank has been recognized as one of the 2021 Best Places to Work in New Jersey, marking the fifth consecutive year it has received this accolade. The bank is the only financial institution in the state to be honored on this prestigious list, which highlights employers contributing positively to the local economy and workforce. The rankings will be announced at an awards ceremony on September 9th, with a special NJBIZ publication profiling the top companies to follow on September 13th. Unity Bank is committed to providing a personalized banking experience.

Unity Bank (NASDAQ: UNTY) has donated $50,000 to St. Jude Children’s Research Hospital as part of the Inspiration4 campaign, a $200 million initiative. This campaign, led by Jared Isaacman of Shift4 Payments (NYSE: FOUR), aims to support St. Jude's mission of finding cures for childhood cancer. The campaign underscores the urgent need for advancements in childhood cancer treatments globally, especially in low-income regions. The donation is part of a broader effort to enhance research capabilities at St. Jude, contributing to increased survival rates in childhood cancer.

Unity Bancorp, Inc. (NASDAQ: UNTY) has been ranked 20th nationally on the American Banker magazine's list of the Top 200 Publicly Traded Community Banks with under $2 billion in assets. This recognition highlights Unity as the top community bank in New Jersey, showcasing a three-year return on average equity (ROAE) of 15.72%, significantly exceeding the industry average of 8.81%. The ranking demonstrates Unity's financial strength, supported by its commitment to lending during the COVID-19 pandemic, funding 1,947 PPP loans totaling $228 million.

Unity Bancorp, Inc. (NASDAQ: UNTY) has declared a cash dividend of $0.09 per share, scheduled for payment on June 25, 2021, to shareholders of record as of June 11, 2021. The company, headquartered in Clinton, NJ, manages approximately $2.0 billion in assets and $1.6 billion in deposits. Its wholly-owned subsidiary, Unity Bank, serves retail and corporate clients across 19 locations in New Jersey and Pennsylvania. This dividend reflects the company’s ongoing commitment to returning value to its shareholders.

Unity Bancorp, Inc. (NASDAQ: UNTY) reported a net income of $8.5 million, or $0.80 per diluted share, for Q1 2021, marking a 58.3% increase from $5.4 million or $0.49 per share in Q1 2020. This growth is attributed to revenues from the SBA Paycheck Protection Program, a better net interest margin, and increased non-interest income. The company anticipates a strong year ahead, bolstered by robust performance in mortgage and SBA lending.