Unity Bancorp, Inc. operates as the holding company for Unity Bank that provides commercial and retail banking products and services to individuals, small and medium sized businesses, and professional communities. The company offers personal and business checking accounts, time deposits, money market accounts, and regular savings accounts, as well as noninterest and interest-bearing demand deposits. It also provides small business administration loans; commercial loans; and residential mortgage and consumer loans, including residential real estate, home equity lines and loans, and consumer construction lines, as well as personal loans. As of December 31, 2020, the company offered its services through the Internet and nineteen branch offices located in Bergen, Hunterdon, Middlesex, Somerset, Union, and Warren counties in New Jersey, as well as Northampton County, Pennsylvania. Unity Bancorp, Inc. was incorporated in 1991 and is headquartered in Clinton, New Jersey.
IPO Year:
Exchange: NASDAQ
Website: unitybank.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/15/2022 | $32.00 | Buy | Janney |
| 4/7/2022 | $33.00 | Overweight | Piper Sandler |
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CLINTON, N.J., Feb. 27, 2025 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.14 per common share. Such dividend is payable on March 28, 2025, to shareholders of record as of March 14, 2025. This represents an 8% increase from the $0.13 dividend per common share paid in the prior quarter. "Consistent with the past several years, we are pleased to announce an increase in our dividend payout, a true testament to our robust financial health and confidence in the Company's growth and earnings outlook. We remain committed to delivering shareholder returns while managing a prudent and c
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, Somer
CLINTON, N.J., Aug. 15, 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 September 20, 2024, to shareholders of record as of September 6, 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, Some
CLINTON, N.J., May 16, 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 June 21, 2024, to shareholders of record as of June 7, 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
CLINTON, N.J., April 12, 2024 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, reported net income of $9.6 million, or $0.93 per diluted share, for the quarter ended March 31, 2024, compared to net income of $9.8 million, or $0.96 per diluted share for the quarter ended December 31, 2023. This represents a 1.9% decrease in net income and a 3.1% decrease in net income per diluted share. James A. Hughes, President and CEO, commented on the financial results: "We are pleased to announce another strong quarter for Unity Bancorp, Inc. For the quarter, we achieved $9.6 million of net income, equivalent to $0.93 per diluted share. Our core deposit franchise ha
CLINTON, N.J., Feb. 22, 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 March 29, 2024, to shareholders of record as of March 15, 2024. This represents an 8% increase from the $0.12 dividend per common share paid in the prior quarter. "We are pleased to announce another increase in our dividend payout, a testament to our robust financial performance and our unwavering commitment to delivering shareholder value. Our confidence in the Company's long-term prospects drives this decision. While maintaining a conservative capital po
CLINTON, N.J., Nov. 16, 2023 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.12 per common share. Such dividend is payable on December 29, 2023, to shareholders of record as of December 15, 2023. Unity Bancorp, Inc. is a financial services organization headquartered in Clinton, New Jersey, with approximately $2.6 billion in assets and $1.9 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, Som
CLINTON, N.J., Aug. 17, 2023 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.12 per common share. Such dividend is payable on September 22, 2023, to shareholders of record as of September 8, 2023. Unity Bancorp, Inc. is a financial service organization headquartered in Clinton, New Jersey, with approximately $2.6 billion in assets and $1.8 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, Ocean, Somerset, Uni
CLINTON, N.J., April 27, 2023 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.12 per common share. Such dividend is payable on June 23, 2023, to shareholders of record as of June 9, 2023. Unity Bancorp, Inc. is a financial service organization headquartered in Clinton, New Jersey, with approximately $2.5 billion in assets and $1.8 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, Ocean, Somerset, Union and Wa
CLINTON, N.J., March 30, 2023 (GLOBE NEWSWIRE) -- Unity Bank has earned the Top (5-Star) Rating for financial strength and stability from BauerFinancial, Inc., the nation's premier bank rating firm. BauerFinancial rates every federally-insured U.S. chartered bank with the same strict standards, and is pleased to report that Unity Bank continues to outperform its peers. "The 5-Star Rating by BauerFinancial indicates that Unity Bank excels in many different areas, including available capital, profitability and asset quality," said Unity Bank President & CEO James A. Hughes. "The rating places Unity Bank in the top tier of financial institutions in the United States. We are honored by the ra
Janney initiated coverage of Unity Bancorp with a rating of Buy and set a new price target of $32.00
Piper Sandler initiated coverage of Unity Bancorp with a rating of Overweight and set a new price target of $33.00
CLINTON, N.J., June 28, 2023 (GLOBE NEWSWIRE) -- Banking industry veteran Daniel Sharabba has joined Unity Bank as Senior Vice President/Senior Retail Officer. The Morris Plains resident is responsible for the development and execution of the community bank's branch banking operations. "We are excited to welcome Daniel to the Unity Bank family," said Unity Bank President & CEO James A. Hughes. "Daniel brings great banking experience to the team and has an impressive background growing both business and consumer relationships. We look forward to his continued success with Unity." Sharabba previously served as Regional Manager/Vice President with Citizens Bank, overseeing 17 retail loc
CLINTON, N.J., April 22, 2025 (GLOBE NEWSWIRE) -- Unity Bank has been named one of the top-performing small banks in the United States by the Hovde Group, a nationally respected financial advisory and research firm. This marks the third time Unity Bancorp, Inc. (NASDAQ:UNTY) has been included in Hovde's annual high-performer list, underscoring the bank's sustained excellence in financial management and customer service. The 2025 edition of Hovde Group's report evaluates small banks with market capitalizations between $100 million and $1.5 billion, ranking them on key financial metrics such as pre-tax pre-provision net revenue, efficiency ratios, loan and deposit growth, tangible book valu
CLINTON, N.J., April 11, 2025 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, reported net income of $11.6 million, or $1.13 per diluted share, for the quarter ended March 31, 2025, compared to net income of $11.5 million, or $1.13 per diluted share for the quarter ended December 31, 2024. This represents a 0.8% increase in net income. James A. Hughes, President and CEO, commented on the financial results: "We are pleased to announce another strong quarter for Unity Bancorp, Inc. We earned $11.6 million in net income, or $1.13 per diluted share, representing 1.83% ROA and 15.56% ROE. Our Commercial and Residential lending had strong originations, grow
CLINTON, N.J., Feb. 27, 2025 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.14 per common share. Such dividend is payable on March 28, 2025, to shareholders of record as of March 14, 2025. This represents an 8% increase from the $0.13 dividend per common share paid in the prior quarter. "Consistent with the past several years, we are pleased to announce an increase in our dividend payout, a true testament to our robust financial health and confidence in the Company's growth and earnings outlook. We remain committed to delivering shareholder returns while managing a prudent and c
CLINTON, N.J., Jan. 15, 2025 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, reported net income of $11.5 million, or $1.13 per diluted share, for the quarter ended December 31, 2024, compared to net income of $10.9 million, or $1.07 per diluted share for the quarter ended September 30, 2024. This represents a 5.5% increase in net income and a 5.6% increase in net income per diluted share. For the twelve months ended December 31, 2024, Unity Bancorp reported net income of $41.5 million, or $4.06 per diluted share, compared to net income of $39.7 million, or $3.84 per diluted share, for the twelve months ended December 31, 2023. This represents a 4.4% in
CLINTON, N.J., Nov. 27, 2024 (GLOBE NEWSWIRE) -- Start your journey with a boost – for both you and your electric vehicle – at Unity Bank's new EV charging stations, now open to the public at its Clinton, New Jersey headquarters. The stations can accommodate up to four vehicles and are part of the Lynkwell charging network. EV drivers are invited to enjoy complimentary beverages from the Unity Bank café during business hours while their vehicles charge. Employees and customers of the bank will also benefit from a special discount on charging fees. "This significant enhancement not only supports our commitment to sustainability but also directly benefits those utilizing plug-in hybrid el
CLINTON, N.J., Nov. 26, 2024 (GLOBE NEWSWIRE) -- Unity Bank proudly announces that Amanda Roche, Vice President and Finance Department Supervisor, has been recognized as a 2024 New Leader in Banking by the New Jersey Bankers Association (NJBankers). This esteemed award honors outstanding young professionals who are making significant contributions to the New Jersey banking sector. A resident of Long Valley, New Jersey, Roche is one of only 22 banking professionals under the age of 40 to receive this distinguished recognition from NJBankers, a trade association representing over 200 financial institutions across the state. Award nominees were evaluated based on a variety of leadership qua
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, Somer
CLINTON, N.J., Oct. 11, 2024 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, reported net income of $10.9 million, or $1.07 per diluted share, for the quarter ended September 30, 2024, compared to net income of $9.5 million, or $0.93 per diluted share for the quarter ended June 30, 2024. This represents a 15.3% increase in net income and a 15.1% increase in net income per diluted share. For the nine months ended September 30, 2024, Unity Bancorp reported net income of $29.9 million, or $2.94 per diluted share, compared to net income of $29.9 million, or $2.88 per diluted share, for the nine months ended September 30, 2023. This represents no change in n
CLINTON, N.J., Sept. 26, 2024 (GLOBE NEWSWIRE) -- Unity Bank is proud to announce that five local businesses have each been awarded $10,000 grants through the Federal Home Loan Bank of New York (FHLB) Small Business Recovery Grant (SBRG) Program. These grants aim to help businesses overcome challenges posed by inflation, supply chain constraints, rising energy costs, and a volatile rate environment. As a committed member of FHLB, Unity Bank continues to champion local businesses, providing vital support as they navigate today's economic challenges. By leveraging their SBRG Program, Unity Bank granted $10,000 each to five businesses: Isaac Simon Realty LLC – Child Care Services, Br
CLINTON, N.J., Sept. 12, 2024 (GLOBE NEWSWIRE) -- Unity Bank is inviting classic car owners and local businesses to participate in the 18th Annual Crusin' Bob's Classic Car Show, which will be held at the bank's Clinton headquarters, 64 Old Highway 22 in Clinton, on Sunday, October 27th, from 10:00 a.m. to 2:00 p.m. The event will benefit Family Promise of Warren County and Family Promise of Hunterdon County, with all proceeds going directly to these non-profits. Unity Bank employees also volunteer their time to coordinate and support the event. "The annual car show is a highlight for the community and our employees alike. It's a fantastic opportunity to bring people together for a great
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