Unity Bancorp Declares Cash Dividend

Rhea-AI Summary

Unity Bancorp, Inc. (NASDAQ: UNTY) has declared a cash dividend of $0.12 per common share. The dividend will be payable on September 22, 2023, to shareholders of record as of September 8, 2023. Unity Bancorp has approximately $2.6 billion in assets and $1.8 billion in deposits. Unity Bank, its subsidiary, offers financial services to retail, corporate, and small business customers through its branch network in New Jersey and Pennsylvania.

CLINTON, N.J., Aug. 17, 2023 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.12 per common share. Such dividend is payable on September 22, 2023, to shareholders of record as of September 8, 2023.

Unity Bancorp, Inc. is a financial service organization headquartered in Clinton, New Jersey, with approximately $2.6 billion in assets and $1.8 billion in deposits. Unity Bank, the company’s wholly owned subsidiary, provides financial services to retail, corporate and small business customers through its robust branch network located in Bergen, Hunterdon, Middlesex, Ocean, Somerset, Union and Warren Counties in New Jersey and Northampton County, Pennsylvania. For additional information about Unity, visit our website at www.unitybank.com , or call 800-618-BANK.

This news release contains certain forward-looking statements, either expressed or implied, which are provided to assist the reader in understanding anticipated future financial performance. These statements may be identified by use of the words “believe”, “expect”, “intend”, “anticipate”, “estimate”, “project” or similar expressions. These statements involve certain risks, uncertainties, estimates and assumptions made by management, which are subject to factors beyond the Company’s control and could impede its ability to achieve these goals. These factors include those items included in our Annual Report on Form 10-K under the heading “Item IA-Risk Factors” as amended or supplemented by our subsequent filings with the SEC, as well as general economic conditions, trends in interest rates, the ability of our borrowers to repay their loans, our ability to manage and reduce the level of our nonperforming assets, and results of regulatory exams, and the impact of COVID-19 on the Bank, its employees and customers, among other factors.

News Media & Financial Analyst Contact:
George Boyan
EVP and Chief Financial Officer
(908) 713-4565

FAQ

What is the dividend declared by Unity Bancorp?

Unity Bancorp has declared a cash dividend of $0.12 per common share.

When will the dividend be payable?

The dividend will be payable on September 22, 2023.

Who are eligible for the dividend?

Shareholders of record as of September 8, 2023, are eligible for the dividend.

How much assets does Unity Bancorp have?

Unity Bancorp has approximately $2.6 billion in assets.

How much deposits does Unity Bancorp have?

Unity Bancorp has approximately $1.8 billion in deposits.

Where does Unity Bank provide its financial services?

Unity Bank offers financial services through its branch network located in New Jersey and Pennsylvania.