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) has been ranked 20th nationally on the American Banker magazine's list of the Top 200 Publicly Traded Community Banks with under $2 billion in assets. This recognition highlights Unity as the top community bank in New Jersey, showcasing a three-year return on average equity (ROAE) of 15.72%, significantly exceeding the industry average of 8.81%. The ranking demonstrates Unity's financial strength, supported by its commitment to lending during the COVID-19 pandemic, funding 1,947 PPP loans totaling $228 million.
Unity Bancorp, Inc. (NASDAQ: UNTY) has declared a cash dividend of $0.09 per share, scheduled for payment on June 25, 2021, to shareholders of record as of June 11, 2021. The company, headquartered in Clinton, NJ, manages approximately $2.0 billion in assets and $1.6 billion in deposits. Its wholly-owned subsidiary, Unity Bank, serves retail and corporate clients across 19 locations in New Jersey and Pennsylvania. This dividend reflects the company’s ongoing commitment to returning value to its shareholders.
Unity Bancorp, Inc. (NASDAQ: UNTY) reported a net income of $8.5 million, or $0.80 per diluted share, for Q1 2021, marking a 58.3% increase from $5.4 million or $0.49 per share in Q1 2020. This growth is attributed to revenues from the SBA Paycheck Protection Program, a better net interest margin, and increased non-interest income. The company anticipates a strong year ahead, bolstered by robust performance in mortgage and SBA lending.
Unity Bancorp, Inc. (NASDAQ: UNTY) has appointed George Boyan as Chief Financial Officer, bringing over 20 years of experience in the financial services sector. Responsible for financial and accounting operations, Boyan previously held senior roles at Bank Leumi USA and has a strong background with Goldman Sachs and MetLife. Unity Bank manages approximately $2 billion in assets and aims to enhance its financial products and customer relationships, aligning with its mission of 'Growing with You'.
Unity Bancorp, Inc. (NASDAQ: UNTY) has declared a cash dividend of $0.08 per common share, payable on March 26, 2021, to shareholders of record by March 12, 2021. The company, based in Clinton, New Jersey, manages approximately $2.0 billion in assets and $1.6 billion in deposits through its subsidiary, Unity Bank, which operates 19 retail service centers across New Jersey and Pennsylvania. This announcement highlights Unity's ongoing commitment to returning value to shareholders amidst a robust financial position.
Unity Bancorp, Inc. (NASDAQ: UNTY) announced a new Share Repurchase Program approved by its Board of Directors, allowing repurchase of up to 750,000 shares, representing about 7.5% of its outstanding stock. Repurchases are subject to market conditions and will be conducted in the open market or via private transactions. The timing, volume, and price will be managed at management's discretion. This buyback program aims to enhance shareholder value while prioritizing the company's capital needs and regulatory requirements.
Unity Bancorp, Inc. (NASDAQ: UNTY) reported a net income of $7.3 million, or $0.69 per diluted share, for Q4 2020, marking a 20% increase from Q4 2019's $6.1 million. For the full year, net income stood at $23.6 million, slightly down from $23.7 million in 2019. The earnings growth was primarily driven by revenue from the SBA Paycheck Protection Program, although higher provisions for loan losses due to the COVID-19 pandemic impacted overall earnings. Unity's resilience is underscored by record loan volume in its mortgage division and a strong balance sheet.
Unity Bancorp, Inc. (NASDAQ: UNTY) has declared a cash dividend of $0.08 per common share, payable on December 31, 2020, to shareholders of record as of December 17, 2020. With approximately $1.9 billion in assets and $1.5 billion in deposits, Unity Bank serves retail and corporate clients through its 19 retail service centers located in New Jersey and Pennsylvania. The announcement reflects the company's ongoing commitment to returning value to shareholders.
Unity Bank announces the appointment of Adam Kuras as Chief Lending Officer, bringing over 27 years of banking experience to the role. Kuras, previously with Fulton Bank, will enhance Unity's commercial lending program, vital for the bank's growth. Unity Bank, a community-oriented financial services provider, has 19 branches in New Jersey and Pennsylvania, aiming to strengthen its regional lending capabilities.
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