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. (UNTY) is the holding company for Unity Bank, a community-oriented commercial bank. Unity Bank provides a comprehensive range of financial services to retail and business customers through its branches located in Hunterdon, Middlesex, Somerset, Union, and Warren counties in New Jersey, as well as Northampton County in Pennsylvania.
Unity Bank's core business includes personal and business checking accounts, time deposits, money market accounts, regular savings accounts, and a full suite of online services. The bank is dedicated to serving small and medium-sized businesses, professional communities, and individuals residing, working, and shopping in its service areas. The bank's lending activities are extensive, offering commercial loans, Small Business Administration (SBA) loans, consumer loans, mortgage loans, home equity loans, and personal loans.
Unity Bancorp has shown a commitment to growth and community development. Recent achievements include consistent financial performance, with periodic earnings releases highlighting the company's stable financial condition. Unity Bank aims to foster strong relationships with its customers through personalized service and a community-centric approach.
For the latest updates and detailed financial information, please refer to Unity Bancorp's quarterly earnings releases:
- For the full version of the Company’s 2023 first quarter earnings release, including financial tables, please visit News - Unity Bank.
- For the full version of the Company’s 2023 third quarter earnings release, including financial tables, please visit News - Unity Bank.
- For the full version of the Company’s 2023 fourth quarter earnings release, including financial tables, please visit News - Unity Bank.
- For the full version of the Company’s 2024 first quarter earnings release, including financial tables, please visit News - Unity Bank.
Unity Bancorp, Inc. (NASDAQ: UNTY) reported a net income of $10.3 million or $0.96 per diluted share for Q1 2023, reflecting a 3.0% increase in net income and a 3.2% rise in earnings per share compared to Q4 2022. The CEO, James A. Hughes, highlighted the company's resilience amid a challenging banking environment, exacerbated by significant bank failures and rising interest rates. Unity's proactive risk management and liquidity strategies have positioned the company favorably, ensuring continued service to customers and communities. With approximately $2.5 billion in assets, Unity Bank serves various sectors across New Jersey and Pennsylvania, aiming to enhance shareholder value through financial stability and technological investments.
Unity Bank has received a 5-Star Rating from BauerFinancial for its financial strength, with commendations in available capital, profitability, and asset quality. This recognition places Unity among the top tier of financial institutions in the U.S., reflecting its commitment to high-quality service. In addition to the rating, Unity's Board of Directors declared a cash dividend of $0.12 per common share, marking a 9% increase from the previous quarter and a 20% rise from the same period last year. Established in 1991, Unity Bank serves the community through 20 branches across New Jersey and Pennsylvania.
Unity Bancorp, Inc. (NASDAQ: UNTY) has declared a cash dividend of $0.12 per common share, an increase of 9% from the previous quarter and 20% from March 2022. The dividend is payable on March 24, 2023, to shareholders of record as of March 10, 2023. Unity Bancorp, with approximately $2.4 billion in assets and $1.8 billion in deposits, operates Unity Bank, which serves retail, corporate, and small business customers across several counties in New Jersey and Pennsylvania.
Unity Bank has expanded its footprint by opening a new branch in Fort Lee, New Jersey, bringing its total to 20 branches. The new facility located at 899 Palisade Avenue aims to enhance retail services, especially for small businesses in the area. This branch offers dedicated parking, drive-up banking, and ATM services, and features local artwork to reflect community engagement. Unity Bank, with assets of $2.4 billion and deposits of $1.8 billion, continues its commitment to providing essential banking services to various communities across New Jersey and Pennsylvania.
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