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Unity Bancorp, Inc. reported the passing of director Robert ("Bobby") H. Dallas II, who died on August 3, 2026. Dallas was a founding member of Unity Bank and had served on the company’s board since inception, providing leadership and guidance for more than three decades.
On August 7, 2026, the company publicly announced his passing via a press release furnished as an exhibit. Unity Bancorp, headquartered in Clinton, New Jersey, is a financial services organization with approximately $3.2 billion in assets and $2.5 billion in deposits, serving customers across multiple counties in New Jersey and Pennsylvania.
Unity Bancorp, Inc. reported Q2 2026 results with total assets of 3,194,313 (in thousands) at June 30, 2026, up from 2,966,652 at December 31, 2025. Loans grew to 2,682,494 and deposits to 2,462,549, while shareholders’ equity increased to 371,813.
For the quarter, net interest income rose to 31,827 from 28,557 a year earlier as total interest income reached 46,635. Net income was 14,472 versus 16,491 in Q2 2025, and six‑month net income was 28,760 versus 28,089, reflecting higher interest expense and lower securities results.
The allowance for credit losses increased to 34,551, and noninterest expenses rose to 13,929 for the quarter. Management describes competitive pressures for deposits and notes that significant deposit outflows could require greater use of Federal Home Loan Bank advances and other wholesale funding, potentially raising funding costs and limiting loan growth or other investments.
Unity Bancorp, Inc. 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 share, in the prior quarter. Return on average assets was 2.01% and return on average equity 15.86%. Net interest income rose to $31.8 million as net interest margin expanded to 4.56%, supported by loan growth and higher yields on interest-earning assets, while the provision for credit losses on loans held steady at $1.0 million. For the first six months of 2026, net income was $28.8 million, or $2.82 per diluted share, slightly above $28.1 million, or $2.74 per share, a year earlier, aided by tax credit investments that lowered the effective tax rate.
Total assets reached approximately $3.19 billion at June 30, 2026, with total gross loans of $2.68 billion and deposits of $2.46 billion, each up 12.6% year-over-year. Nonaccrual assets, including OREO, were $34.5 million, or 1.08% of total assets, with nearly half tied to a single $15.5 million commercial real estate relationship; the allowance for credit losses was 1.29% of gross loans. Quarterly noninterest income declined to $1.9 million from $5.8 million a year earlier, mainly due to unrealized losses on an equity investment and lower loan-related fees and gains, while noninterest expense was stable, producing an efficiency ratio of 40.50%. Capital and liquidity remained strong, with a leverage ratio of 13.17%, total risk-based capital ratio of 15.82%, $250.3 million of cash and cash equivalents, and total available funding plus cash equal to 125.4% of uninsured or uncollateralized deposits.
Unity Bancorp executive Daniel C. Sharabba reported routine share updates related to restricted stock vesting. On the vesting of 250 restricted shares, 90 shares of Unity Bancorp common stock were withheld at $55.45 per share to cover tax liabilities, a non-market tax-withholding disposition rather than an open-market sale. After these transactions, he holds 4,651 restricted shares, including 89 dividend reinvested shares, and 1,286 common shares, all directly owned.
UNITY BANCORP INC /NJ/ director Mark S. Brody reported an option exercise and related share sale. On May 27, 2026, he exercised stock options for 1,600 shares of Common Stock at $15.70 per share, then sold 1,600 shares in open-market transactions at a weighted average price of $55.235, with individual trades between $55.22 and $55.25. After these transactions, he reports beneficial ownership of 113,854 shares of Common Stock, including 40,160 held jointly with his spouse, plus 4,000 restricted shares held at Computershare with upcoming vesting dates. The filing also notes an option position for 16,800 shares expiring on January 3, 2027.
Unity Bancorp, Inc. announced that its Board of Directors has declared a cash dividend of $0.16 per common share. The dividend will be paid on June 18, 2026 to shareholders who are on record as of June 4, 2026.
The company describes itself as a financial services organization headquartered in Clinton, New Jersey, with approximately $3.0 billion in assets and $2.4 billion in deposits, serving retail, corporate and small business customers through its regional branch network.
Unity Bancorp’s Chief Lending Officer James Joseph Donovan reported routine share updates. On May 18, 69 Restricted Stock shares were withheld at $52.43 per share to cover taxes on 250 restricted shares vesting, a non‑market, tax-withholding disposition. Following these events, he holds 4,950 Restricted Shares in a Computershare account with upcoming vesting dates and 181 Common Stock shares in a Shareworks account, indicating a continuing equity stake in the company.
Unity Bancorp, Inc. reported stronger quarterly results for the three months ended March 31, 2026. Net income rose to $14.3 million from $11.6 million a year earlier, with diluted earnings per share increasing to $1.40 from $1.13. Higher loan balances drove total interest income to $45.2 million versus $40.8 million, while net interest income reached $30.7 million compared with $27.3 million. The provision for credit losses on loans decreased to $1.0 million from $1.4 million, reflecting stable credit performance.
Noninterest income improved to $2.9 million, helped by higher gains on sales of SBA and mortgage loans, though this was partly offset by net security losses. Noninterest expense increased to $14.1 million from $12.6 million, mainly from higher compensation, processing and loan-related costs. Total assets grew to $3.03 billion, net loans to $2.57 billion, deposits to $2.38 billion, and shareholders’ equity to $358.1 million.
Unity Bancorp, Inc. reported the results of its Annual Meeting of Shareholders held in Clinton, New Jersey on April 23, 2026. A total of 7,969,020 shares were present or represented by proxy.
Shareholders voted on the election of directors, with each nominee receiving more votes "for" than "withheld." They also voted on ratifying Wolf & Company P.C. as the independent registered public accounting firm for the fiscal year ending December 31, 2026, casting 7,964,492 votes for, 2,787 against, and 1,741 abstentions.