Unity Bancorp Reports Quarterly Earnings of $9.6 Million
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 has demonstrated steady growth, reinforcing the strength of our balance sheet and contributing to impressive first quarter earnings metrics -- NIM of 4.09%, ROA of 1.58% and ROE of 14.49%.
- 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.
- At Unity, we remain steadfast in our commitment to our shareholders.
- In addition to producing best-in-class earnings, we previously announced another increase to our cash dividend payout, the fifth increase in four years.
- 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.