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Unity Bancorp Reports Quarterly Earnings of $14.4 Million

1. UNITY reports Q3 net income of $14.4 million, down from $16.5 million. 2. Net income for nine months increased to $42.5 million, up from $29.9 million. 3. Loans and deposits grew by 3.6% and 3.7% sequentially. 4. Company showing growth with opening of 22nd branch in Madison, NJ. 5. Federal Reserve rate cut positions UNITY for expanded lending initiatives.

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FAQ

Why Bullish?

The increase in net income year-over-year signifies a strong financial position. However, a decrease compared to the previous quarter may raise investor concerns.

How important is it?

Investors prioritize quarterly earnings; significant metrics showcased in the report bolster confidence. Future growth strategies and local branch openings are highly relevant.

Why Short Term?

Immediate results may affect investor sentiment due to quarterly performance fluctuations. The long-term growth strategy is promising but reliant on market conditions.

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CLINTON, N.J., Oct. 14, 2025 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, reported net income of $14.4 million, or $1.41 per diluted share, for the quarter ended September 30, 2025, compared to net income of $16.5 million, or $1.61 per diluted share for the quarter ended June 30, 2025. For the nine months ended September 30, 2025, Unity Bancorp reported net income of $42.5 million, or $4.15 per diluted share, compared to net income of $29.9 million, or $2.94 per diluted share, for the nine months ended September 30, 2024. James A. Hughes, President and CEO, commented on the financial results: “We are pleased to announce another outstanding quarter for Unity Bancorp, Inc., with net income of $14.4 million, or $1.41 per diluted share. This performance reflects a return on average assets of 2.11%, and return on average equity of 17.41%. Notably, our net interest margin expanded by 5 basis points to 4.54%, underscoring our ability to drive profitability in a dynamic rate environment. During the third quarter, we continued to execute on our organic balance sheet growth strategies. Sequentially, loans increased by $85.9 million, or 3.6%, and deposits grew by $80.1 million, or 3.7%. Our balance sheet remains strong, supported by disciplined credit origination and growth funded by lower-cost deposits. Looking ahead, our strategy of growing loans and deposits in tandem at a mid-to-high single digit rate, positions us well to achieve our growth targets for the remainder of 2025 and beyond. The quarter also benefited from the continued resolution of our Patriot National Bancorp, Inc. position. Unity converted the remainder of its debt position into approximately 2.7 million restricted common shares of Patriot, which will remain restricted until registered. This conversion contributed $0.8 million to net income for the quarter. Excluding this one-time event, on a non-GAAP basis, Unity earned $13.6 million in net income, or $1.33 per diluted share, representing a 2.00% return on average assets and 16.49% return on average equity. We are proud to expand our footprint with the opening of our 22nd branch in Madison, NJ, reinforcing our commitment to serving local communities with personalized banking solutions. This new location reflects our continued growth and dedication to deepening relationships across New Jersey. As the Federal Reserve’s recent rate cut aims to stimulate economic activity amid ongoing uncertainty, Unity is well-positioned to strengthen customer relationships and expand lending initiatives, driving continued momentum and long-term value for our shareholders.” For the full version of the Company’s quarterly earnings release, including financial tables, please visit News - Unity Bank (q4ir.com). Unity Bancorp, Inc. is a financial services organization headquartered in Clinton, New Jersey, with approximately $2.9 billion in assets and $2.3 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, and Warren Counties in New Jersey and Northampton County in Pennsylvania. For additional information about Unity, visit our website at www.unitybank.com , or call 800-618-BANK. This news release contains certain forward-looking statements, either expressed or implied, which are provided to assist the reader in understanding anticipated future financial performance. These statements may be identified by use of the words “believe”, “expect”, “intend”, “anticipate”, “estimate”, “project” or similar expressions. These statements involve certain risks, uncertainties, estimates and assumptions made by management, which are subject to factors beyond the Company’s control that could impede its ability to achieve these goals. These factors include those items included in our Annual Report on Form 10-K under the heading “Item IA-Risk Factors” as amended or supplemented by our subsequent filings with the SEC, as well as general economic conditions, trends in interest rates, the ability of our borrowers to repay their loans, our ability to manage and reduce the level of our nonperforming assets, results of regulatory exams, the impact of any health crisis or national disasters on the Bank, its employees and customers, and the impact of uncertain or changing political conditions or any current or future federal government shutdown and uncertainty regarding the federal government’s debt limit or changes in fiscal, monetary, trade or regulatory policy, among other factors. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. News Media & Financial Analyst Contact:George Boyan, EVP and CFO(908) 713-4565 PDF available: http://ml.globenewswire.com/Resource/Download/485fc43c-5ea3-440c-884a-9cee75328d28

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