Unity Bancorp Inc. Declares Cash Dividend

Rhea-AI Summary

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.

Positive

• Maintains consistent dividend payment to shareholders
• Strong asset base of $2.6 billion
• Solid deposit base of $2.0 billion

Negative

• None.

CLINTON, N.J., Nov. 21, 2024 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.13 per common share. Such dividend is payable on December 31, 2024, to shareholders of record as of December 13, 2024.

Unity Bancorp, Inc. is a financial services organization headquartered in Clinton, New Jersey, with approximately $2.6 billion in assets and $2.0 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, Morris, Ocean, Somerset, Union and Warren Counties in New Jersey and Northampton County in 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, results of regulatory exams, the impacts of any health crisis or natural disaster, 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 Unity Bancorp's dividend amount for Q4 2024?

Unity Bancorp (UNTY) declared a cash dividend of $0.13 per common share for Q4 2024.

When is Unity Bancorp's (UNTY) next dividend payment date?

Unity Bancorp's dividend will be paid on December 31, 2024, to shareholders of record as of December 13, 2024.

What are Unity Bancorp's (UNTY) current total assets and deposits?

Unity Bancorp has approximately $2.6 billion in assets and $2.0 billion in deposits.

In which states does Unity Bank operate its branches?

Unity Bank operates branches in New Jersey and Pennsylvania, specifically across multiple counties including Bergen, Hunterdon, Middlesex, Morris, Ocean, Somerset, Union and Warren Counties in NJ, and Northampton County in PA.