Unity Bancorp - UNTY STOCK NEWS

Unity Bank has opened a new full-service branch in Lakewood, NJ, enhancing its presence in Ocean County, where bank branches have significantly declined. This location aims to serve the growing local population, which surged by 46% in the last decade. The new branch complements existing services and addresses unmet banking needs, particularly among senior citizens. With plans to establish another branch in Fort Lee by January, Unity Bank strengthens its commitment to local economic growth, providing vital financial services to small businesses and consumers.

Unity Bancorp, Inc. (NASDAQ: UNTY) has declared a cash dividend of $0.11 per common share, payable on December 30, 2022, to shareholders of record by December 16, 2022. The company, headquartered in Clinton, New Jersey, boasts approximately $2.3 billion in assets and $1.8 billion in deposits. Unity Bank, its wholly-owned subsidiary, serves various customers through 18 retail service centers primarily located in New Jersey and Pennsylvania.

Unity Bancorp, Inc. (NASDAQ: UNTY) reported a net income of $9.9 million for Q3 2022, up 5.1% from Q3 2021. Earnings per diluted share rose to $0.93. Year-to-date, net income increased 8.1% to $28.5 million, with year-to-date earnings per share at $2.67, reflecting a 6.8% growth. The company noted an impressive 1.85% ROA and 17.39% ROE but acknowledged challenges due to rising interest rates.

Unity Bancorp, Inc. (NASDAQ: UNTY) has declared a cash dividend of $0.11 per common share, payable on September 23, 2022, to shareholders on record as of September 9, 2022. The company, headquartered in Clinton, New Jersey, holds approximately $2.1 billion in assets and $1.7 billion in deposits. Unity Bank, its wholly owned subsidiary, operates 18 retail service centers across New Jersey and Pennsylvania, catering to retail and business customers. The press release also contains forward-looking statements subject to risks and uncertainties.

Unity Bancorp has achieved a significant milestone by ranking 21st in the U.S. and 9th among banks with $1 billion to $5 billion in assets, according to Bank Director's Top 25 Banks list. This recognition highlights Unity's strong performance in profitability, with notable rankings in Return on Equity (11th) and Return on Assets (19th). The bank maintains approximately $2.1 billion in assets and $1.7 billion in deposits, underscoring its financial strength.

Unity Bancorp, Inc. (NASDAQ: UNTY) reported a solid second quarter for 2022 with a net income of $9.5 million or $0.88 per diluted share, reflecting a 12.3% increase year-over-year. For the first half of the year, net income rose to $18.6 million ($1.74 per diluted share), up 9.7% compared to the prior period. The bank also increased its dividend by 10% to $0.11 per share, demonstrating its commitment to returning value to shareholders. With assets around $2.1 billion and a recent inclusion in the Russell 2000 Index, Unity shows strong financial management and growth.

Unity Bancorp, Inc. (Nasdaq: UNTY) was added to the Russell 2000® Index effective June 27, 2022. This membership reflects Unity's financial strength and performance in the small-cap sector, which is vital for U.S. economic indicators. Unity Bancorp holds approximately $2.1 billion in assets and $1.8 billion in deposits. The Russell 2000® Index, used by numerous investment managers, is a key benchmark in the investment community, with about $12 trillion in assets indexed against it. Unity's inclusion enhances its visibility and potential attractiveness to investors.

Unity Bancorp has announced the retirement of Allen Tucker, who served as Vice Chairman since 1995. Tucker, 95, has had a significant impact on the company and its community, being recognized for his leadership. His son, Aaron Tucker, has succeeded him as Vice Chairman. Unity Bank currently holds approximately $2.1 billion in assets and $1.8 billion in deposits, providing various financial services through its 19 branches in New Jersey and Pennsylvania. The company looks forward to future growth under its experienced leadership.

Unity Bancorp, Inc. (NASDAQ: UNTY) announced a cash dividend of $0.11 per common share, representing a 10% increase from the previous quarter and a 22% increase from June 2021. The dividend is payable on June 24, 2022, to shareholders of record as of June 10, 2022. The company, with approximately $2.1 billion in assets, aims to assist readers in understanding future financial performance while acknowledging inherent risks and uncertainties.