業績公告
即時報告
8-K
2026-07-14
Unity Bancorp第二季淨利1450萬美元 每股1.42美元 按年跌12.2%
AI 繁中摘要
Unity Bancorp（納斯達克：UNTY）公佈截至2026年6月30日第二季度業績，淨利潤1,450萬美元（每股攤薄1.42美元），略高於上一季的1,430萬美元（1.40美元），但較去年同期1,650萬美元（1.61美元）下跌12.2%😮。上半年累計淨利潤2,880萬美元（2.82美元），按年增2.4%。
淨息差（NIM）擴大至4.56%，環比升3基點，同比升7基點，受惠於生息資產收益率提升及日數增加。淨利息收入3,180萬美元，環比增110萬美元。信貸撥備1,040萬美元，與上季相若，主要反映貸款增長。
非利息收入僅190萬美元，環比大減100萬美元，主要因為持有Patriot National Bancorp約220萬股錄得較大未實現虧損，以及SBA及按揭貸款出售收益減少。非利息支出1,390萬美元，略低於上季，效率比率改善至40.5%。
資產負債表方面，總資產32億美元，總貸款26.8億美元，較年初增5.4%，商業、住宅建築及消費貸款類別增長帶動。存款24.6億美元，增6.0%；未保險或無抵押存款僅佔總存款21.8%，流動性充裕。股東權益3.72億美元，每股賬面值37.02美元（去年底34.63美元）。
信貸質量方面，不良資產（含OREO）3,450萬美元，佔總資產1.08%；其中一筆1,550萬美元商業地產關係佔近半，屬孤立事件。撥備覆蓋率1.29%，不良貸款覆蓋率104.65%，整體信貸風險可控。
資本實力強勁，槓桿比率13.17%，普通股一級資本比率14.19%，總資本比率15.82%，遠高於監管要求。季內回購6,616股，均價49.01美元。
管理層展望：CEO James Hughes表示，關係型銀行模式持續貢獻佳績，新澤西經濟及樓市保持韌性，客戶活動活躍。雖然宏觀不確定性仍存，但貸款渠道健康、存款吸納動力強，加上科技及人才投資，預期下半年能繼續實現盈利增長、維持資產質素及創造長期股東價值。🔮
其他亮點：季內委任兩位新董事（Sara M. Sooy及Alfred J. Gaburo），並透過FHLBNY小企業復甦補助計劃向本地小企業發放5萬美元資助。
展開英文正文
EX-99.1
2
unty-ex99_1.htm
EX-99.1
EX-99.1
Dil. EPS$1.42
$0.02 Q/Q
ROE15.86%
52 bps Q/Q
NIM4.56%
3 bps Q/Q
ROA2.01%
3 bps Q/Q
Exhibit 99.1
For Immediate Release
News Media & Financial Analyst Contact:
Unity Bancorp, Inc. (NASDAQ: UNTY)
James Davies, FSVP & CFO
July 14, 2026
(908) 713-4330
Unity Bancorp Reports Quarterly Earnings of $14.5 Million
James A. Hughes, CEO, commented on the financial results:
“We are pleased to announce that Unity Bancorp, Inc. delivered another strong quarter, reflecting the strength of our relationship-based banking model. During the second quarter, we generated net income of $14.5 million, or $1.42 per diluted share, producing a 2.01% return on average assets and a 15.86% return on average equity. Strong core operating performance, a 4.56% net interest margin, balanced loan and deposit growth, and robust capital and liquidity levels all contributed to another successful quarter. These accomplishments underscore our ability to deliver consistent earnings, prudently manage risk, and support the financial needs of the communities we serve.
While the macroeconomic environment continues to present uncertainty, including the ongoing effects of elevated interest rates and changing economic conditions, we remain encouraged by the resilience of the New Jersey economy and housing market. Home values have remained stable and customer activity continues to demonstrate the underlying strength of the communities we serve. These factors have supported sound credit performance and continued demand for both residential and commercial banking services.
We remain encouraged by the level of customer activity and business development opportunities across our markets. Loan pipelines remain healthy, deposit gathering efforts continue to gain traction, and our investments in technology and talent are enhancing our ability to serve customers more efficiently and effectively. As we look to the second half of 2026, we believe Unity is well positioned to continue delivering profitable growth, maintaining strong asset quality, and creating long-term value for our shareholders.”
Clinton, NJ -- Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, reported net income of $14.5 million, or $1.42 per diluted share, for the quarter ended June 30, 2026, compared to net income of $14.3 million, or $1.40 per diluted share for the quarter ended March 31, 2026. For the six months ended June 30, 2026, Unity Bancorp reported net income of $28.8 million, or $2.82 per diluted share, compared to net income of $28.1 million, or $2.74 per diluted share, for the six months ended June 30, 2025.
Quarterly Earnings Highlights
•Net interest income, the primary driver of earnings, was $31.8 million for the quarter ended June 30, 2026, an increase of $1.1 million, as compared to $30.7 million for the quarter ended March 31, 2026. Net interest margin (“NIM”) increased 3 basis points to 4.56% for the quarter ended June 30, 2026, compared to the quarter ended March 31, 2026. The increase in net interest income was primarily due to day count and increased yields on interest-earning assets.
•The provision for credit losses on loans was $1.0 million for the quarters ended June 30, 2026 and March 31, 2026. The provision in the current quarter was primarily driven by loan growth.
•Noninterest income was $1.9 million for the quarter ended June 30, 2026, compared to $2.9 million for the quarter ended March 31, 2026. The $1.0 million decrease was primarily due to larger unrealized losses recognized, decreased loan fee income and lower gain on sale of SBA and mortgage loans. The increased unrealized losses are due to the Company's investment in Patriot National Bancorp, Inc., of which the Company held approximately 2.2 million shares as of June 30, 2026.
oSubsequent to June 30, 2026, Patriot National Bancorp, Inc. publicly announced the termination of its formal agreement with the OCC and the opening of a new banking office in Beverly Hills, California. These developments did not impact the Company's second quarter financial results.
•Noninterest expense was $13.9 million for the quarter ended June 30, 2026, compared to $14.1 million for the quarter ended March 31, 2026. The decrease was primarily due to decreased occupancy and loan related expenses, partially offset by increased furniture & equipment expenses.
•The effective tax rate was 22.4% for the quarter ended June 30, 2026, compared to 22.7% for the quarter ended March 31, 2026. As part of the Company's ongoing initiative to prudently reduce its tax burden and enhance after-tax earnings, Unity strategically invested in tax credit programs during the first half of 2026. During the second quarter of 2026, Unity purchased $2.6 million of state tax credits, resulting in $0.2 million of tax savings. Furthermore, during the first quarter of 2026, Unity purchased $5.1 million of federal tax credits, resulting in $0.4 million of tax savings.
Balance Sheet Highlights
•Total gross loans increased $137.8 million, or 5.4%, from December 31, 2025, primarily due to increases in the commercial, residential construction and consumer loan categories.
•As of June 30, 2026, the allowance for credit losses as a percentage of gross loans was 1.29%.
•As of June 30, 2026, nonaccrual assets (including OREO) were $34.5 million, compared to $31.3 million as of December 31, 2025. The ratio of nonaccrual loans to total loans was 1.23% as of June 30, 2026. The ratio of nonaccrual assets to total assets was 1.08% as of June 30, 2026. During the fourth quarter of 2025, one $15.5 million commercial real estate relationship migrated to nonaccrual status. This isolated relationship accounts for nearly half of nonaccrual assets.
•Total deposits increased $138.5 million, or 6.0%, from December 31, 2025. As of June 30, 2026, uninsured or uncollateralized deposits represented 21.8% of total deposits. The Company’s deposit composition as of June 30, 2026, consisted of 19.8% in noninterest bearing demand deposits, 16.8% in interest-bearing demand deposits, 23.2%
in savings deposits and 40.2% in time deposits.
•Borrowed funds increased $60.3 million from December 31, 2025. Borrowed funds were entirely comprised of borrowings from the FHLB.
•Shareholders’ equity was $371.8 million as of June 30, 2026, compared to $345.6 million as of December 31, 2025. The $26.2 million increase was primarily driven by 2026 earnings, partially offset by dividend payments. During the six months ended June 30, 2026, Unity Bancorp, Inc. repurchased 6,616 shares at a weighted average price of $49.01 per share.
•Book value per common share was $37.02 as of June 30, 2026, compared to $34.63 as of December 31, 2025. This increase is primarily due to net income partially offset by dividends.
•Below is a summary of Unity Bancorp’s regulatory capital ratios. During the quarter ended June 30, 2026, risk-weighted assets increased $150.1 million driven by robust loan pipelines and originated Brokered CDs pending settlement.
oThe Leverage Ratio increased 45 basis points to 13.17% at June 30, 2026, compared to 12.72% at December 31, 2025.
oThe Common Equity Tier 1 Capital Ratio decreased 26 basis points to 14.19% at June 30, 2026, compared to 14.45% at December 31, 2025.
oThe Tier 1 Capital Ratio decreased 30 basis points to 14.57% at June 30, 2026, compared to 14.87% at December 31, 2025.
oThe Total Capital Ratio decreased 30 basis points to 15.82% at June 30, 2026, compared to 16.12% at December 31, 2025.
•At June 30, 2026, the Company held $250.3 million of cash and cash equivalents. The Company also maintained approximately $421.8 million of funding available from various sources, including the FHLB, FRB Discount Window and other lines of credit. Total available funding plus cash on hand represented 125.4% of uninsured or uncollateralized deposits.
Other Highlights
•In June 2026, Unity Bank, a wholly owned subsidiary of Unity Bancorp Inc., appointed Sara M. Sooy to its Board of Directors. Ms. Sooy brings significant banking, finance, governance, and public-sector leadership experience to the Bank's Board.
•In June 2026, Unity Bank, a wholly owned subsidiary of Unity Bancorp Inc., appointed Alfred J. Gaburo to its Board of Directors. Mr. Gaburo brings more than three decades of experience in public affairs, government relations, economic development, and strategic advocacy to the Bank's Board.
•In the second quarter of 2026, Unity Bank awarded $50 thousand in grants to local small businesses through the FHLBNY Small Business Recovery Grant Program. These grants assist small businesses in overcoming challenges posed by inflation, supply chain constraints, rising energy costs, and a volatile interest rate environment.
Unity Bancorp, Inc. is a financial services organization headquartered in Clinton, New Jersey, with approximately $3.2 billion in assets and $2.5 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 1A. 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.
UNITY BANCORP, INC.
SUMMARY FINANCIAL HIGHLIGHTS
June 30, 2026 vs.
(In thousands, except percentages and per
March 31, 2026
June 30, 2025
share amounts)
June 30, 2026
March 31, 2026
June 30, 2025
%
%
BALANCE SHEET DATA
Total assets
$
3,194,313
$
3,027,327
$
2,928,523
5.5
%
9.1
%
Total deposits
2,462,549
2,379,140
2,187,366
3.5
12.6
Total gross loans
2,682,494
2,601,656
2,382,594
3.1
12.6
Total securities
119,300
115,268
139,348
3.5
(14.4
)
Total shareholders' equity
371,813
358,095
319,840
3.8
16.2
Allowance for credit losses
34,551
33,354
29,012
3.6
19.1
FINANCIAL DATA - QUARTER TO DATE
Income before provision for income taxes
$
18,652
$
18,487
$
21,528
0.9
(13.4
)
Provision for income taxes
4,180
4,199
5,037
(0.5
)
(17.0
)
Net income
$
14,472
$
14,288
$
16,491
1.3
(12.2
)
Net income per common share - Basic
$
1.44
$
1.43
$
1.64
0.7
(12.2
)
Net income per common share - Diluted
1.42
1.40
1.61
1.4
(11.8
)
PERFORMANCE RATIOS - QUARTER TO DATE (ANNUALIZED)
Return on average assets
2.01
%
2.04
%
2.51
%
Return on average equity
15.86
16.38
21.15
Efficiency ratio**
40.50
41.77
42.31
Cost of funds
2.38
2.38
2.46
Net interest margin
4.56
4.53
4.49
Noninterest expense to average assets
1.93
2.01
1.98
FINANCIAL DATA - YEAR TO DATE
Income before provision for income taxes
$
37,138
$
36,952
0.5
Provision for income taxes
8,378
8,863
(5.5
)
Net income
$
28,760
$
28,089
2.4
Net income per common share - Basic
$
2.87
$
2.79
2.9
Net income per common share - Diluted
2.82
2.74
2.9
PERFORMANCE RATIOS - YEAR TO DATE
Return on average assets
2.02
%
2.18
%
Return on average equity
16.11
18.42
Efficiency ratio**
41.13
42.59
Cost of funds
2.38
2.46
Net interest margin
4.54
4.48
Noninterest expense to average assets
1.97
1.99
SHARE INFORMATION
Market price per share
$
58.69
$
51.83
$
47.08
13.2
24.7
Dividends paid (QTD)
0.16
0.16
0.14
—
14.3
Book value per common share
37.02
35.66
31.88
3.8
16.1
Average diluted shares outstanding (QTD)
10,221
10,199
10,212
0.2
0.1
UNITY BANCORP CAPITAL RATIOS
Total equity to total assets
11.64
%
11.83
%
10.92
%
(1.6
)
6.6
Leverage ratio
13.17
12.93
12.50
1.9
5.4
Common Equity Tier 1 Capital Ratio
14.19
14.50
13.96
(2.1
)
1.6
Risk-based Tier 1 Capital Ratio
14.57
14.91
14.39
(2.3
)
1.3
Risk-based Total Capital Ratio
15.82
16.16
15.65
(2.1
)
1.1
CREDIT QUALITY AND RATIOS
Nonaccrual assets
$
34,489
$
32,092
$
15,840
7.5
117.7
QTD annualized net recoveries (chargeoffs) to QTD average loans
0.03
%
(0.01
)%
(0.06
)%
Allowance for credit losses to total loans
1.29
1.28
1.22
Nonaccrual loans to total loans
1.23
1.18
0.66
Nonaccrual assets to total assets
1.08
1.06
0.54
** The efficiency ratio is a non-GAAP measure, calculated based on the noninterest expense divided by the sum of net interest income plus non interest income, excluding net gains and losses on securities.
UNITY BANCORP, INC.
QUARTERLY BALANCE SHEETS
June 30, 2026 vs.
December 31, 2025
June 30, 2025
(In thousands, except percentages)
June 30, 2026
December 31, 2025
June 30, 2025
%
%
ASSETS
Cash and due from banks
$
28,267
$
19,841
$
26,045
42.5
%
8.5
%
Interest-bearing deposits
222,054
196,678
267,688
12.9
(17.0
)
Cash and cash equivalents
250,321
216,519
293,733
15.6
(14.8
)
Securities:
Debt securities available for sale, at market value, net of valuation allowance
67,221
70,870
92,491
(5.1
)
(27.3
)
Debt securities held to maturity, at book value
37,707
36,576
36,434
3.1
3.5
Equity securities, at market value
14,372
16,569
10,423
(13.3
)
37.9
Total securities
119,300
124,015
139,348
(3.8
)
(14.4
)
Loans:
Loans held for sale
9,458
9,490
13,352
(0.3
)
(29.2
)
SBA loans held for investment
35,816
34,259
38,059
4.5
(5.9
)
Commercial loans
1,649,252
1,518,032
1,409,139
8.6
17.0
Commercial construction loans
128,628
147,215
101,990
(12.6
)
26.1
Residential mortgage loans
668,502
677,221
666,560
(1.3
)
0.3
Consumer loans
94,757
85,219
82,564
11.2
14.8
Residential construction loans
96,081
73,277
70,930
31.1
35.5
Total loans
2,682,494
2,544,713
2,382,594
5.4
12.6
Allowance for credit losses
(34,551
)
(32,342
)
(29,012
)
6.8
19.1
Net loans
2,647,943
2,512,371
2,353,582
5.4
12.5
Premises and equipment, net
17,878
18,022
18,561
(0.8
)
(3.7
)
Bank owned life insurance ("BOLI")
26,977
26,547
26,108
1.6
3.3
Deferred tax assets
15,975
14,640
14,784
9.1
8.1
Federal Home Loan Bank ("FHLB") stock
17,401
14,314
19,730
21.6
(11.8
)
Accrued interest receivable
12,988
12,896
12,411
0.7
4.6
Goodwill
1,516
1,516
1,516
—
—
Other real estate owned ("OREO")
1,472
1,472
—
—
*NM
Prepaid expenses and other assets
82,542
24,340
48,750
239.1
69.3
Total assets
$
3,194,313
$
2,966,652
$
2,928,523
7.7
%
9.1
%
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits:
Noninterest-bearing demand
$
487,132
$
465,596
$
464,610
4.6
%
4.8
%
Interest-bearing demand
380,473
369,131
321,863
3.1
18.2
Savings
566,649
535,044
505,706
5.9
12.1
Brokered deposits
301,525
274,203
237,978
10.0
26.7
Time deposits
726,770
680,087
657,209
6.9
10.6
Total deposits
2,462,549
2,324,061
2,187,366
6.0
12.6
Borrowed funds
316,123
255,774
377,107
23.6
(16.2
)
Subordinated debentures
10,310
10,310
10,310
—
—
Accrued interest payable
2,758
2,138
1,463
29.0
88.5
Accrued expenses and other liabilities
30,760
28,738
32,437
7.0
(5.2
)
Total liabilities
2,822,500
2,621,021
2,608,683
7.7
8.2
Shareholders' equity:
Common stock
106,701
105,892
104,674
0.8
1.9
Retained earnings
269,486
243,935
252,606
10.5
6.7
Treasury stock, at cost
(3,425
)
(3,101
)
(35,515
)
(10.4
)
(90.4
)
Accumulated other comprehensive loss
(949
)
(1,095
)
(1,925
)
(13.3
)
(50.7
)
Total shareholders' equity
371,813
345,631
319,840
7.6
16.2
Total liabilities and shareholders' equity
$
3,194,313
$
2,966,652
$
2,928,523
7.7
%
9.1
%
Shares issued
10,116
10,048
11,672
Shares outstanding
10,043
9,982
10,032
Treasury shares
73
66
1,640
*NM=Not meaningful
UNITY BANCORP, INC.
QTD CONSOLIDATED STATEMENTS OF INCOME
June 30, 2026 vs.
For the three months ended
March 31, 2026
June 30, 2025
(In thousands, except percentages and per share amounts)
June 30, 2026
March 31, 2026
June 30, 2025
$
%
$
%
INTEREST INCOME
Interest-bearing deposits
$
455
$
558
$
487
$
(103
)
(18.5
)
%
$
(32
)
(6.6
)
%
FHLB stock
140
134
130
6
4.5
10
7.7
Securities:
Taxable
1,391
1,409
1,735
(18
)
(1.3
)
(344
)
(19.8
)
Tax-exempt
24
18
17
6
33.3
7
41.2
Total securities
1,415
1,427
1,752
(12
)
(0.8
)
(337
)
(19.2
)
Loans:
SBA loans
840
844
856
(4
)
(0.5
)
(16
)
(1.9
)
Commercial loans
26,509
25,016
23,352
1,493
6.0
3,157
13.5
Commercial construction loans
3,347
3,038
2,384
309
10.2
963
40.4
Residential mortgage loans
10,411
10,913
10,390
(502
)
(4.6
)
21
0.2
Consumer loans
1,471
1,424
1,491
47
3.3
(20
)
(1.3
)
Residential construction loans
2,047
1,825
1,758
222
12.2
289
16.4
Total loans
44,625
43,060
40,231
1,565
3.6
4,394
10.9
Total interest income
46,635
45,179
42,600
1,456
3.2
4,035
9.5
INTEREST EXPENSE
Interest-bearing demand deposits
2,084
1,910
1,898
174
9.1
186
9.8
Savings deposits
3,291
3,160
2,718
131
4.1
573
21.1
Brokered deposits
2,247
2,267
1,786
(20
)
(0.9
)
461
25.8
Time deposits
6,282
6,128
6,560
154
2.5
(278
)
(4.2
)
Borrowed funds and subordinated debentures
904
984
1,081
(80
)
(8.1
)
(177
)
(16.4
)
Total interest expense
14,808
14,449
14,043
359
2.5
765
5.4
Net interest income
31,827
30,730
28,557
1,097
3.6
3,270
11.5
Provision for credit losses, loans
1,040
1,043
1,725
(3
)
(0.3
)
(685
)
(39.7
)
Provision for credit losses, off-balance sheet
127
5
136
122
*NM
(9
)
(6.6
)
Release of credit losses, securities
—
—
(2,036
)
—
—
2,036
*NM
Net interest income after provision for credit losses
30,660
29,682
28,732
978
3.3
1,928
6.7
NONINTEREST INCOME
Branch fee income
612
489
465
123
25.2
147
31.6
Service and loan fee income
657
912
536
(255
)
(28.0
)
121
22.6
Gain on sale of SBA loans held for sale, net
213
427
163
(214
)
(50.1
)
50
30.7
Gain on sale of mortgage loans, net
406
500
435
(94
)
(18.8
)
(29
)
(6.7
)
BOLI income
213
217
183
(4
)
(1.8
)
30
16.4
Net securities (losses) gains
(643
)
(82
)
3,600
(561
)
*NM
(4,243
)
*NM
Other income
463
413
433
50
12.1
30
6.9
Total noninterest income
1,921
2,876
5,815
(955
)
(33.2
)
(3,894
)
(67.0
)
NONINTEREST EXPENSE
Compensation and benefits
8,669
8,673
8,160
(4
)
—
509
6.2
Processing and communications
1,131
1,146
980
(15
)
(1.3
)
151
15.4
Occupancy
842
987
809
(145
)
(14.7
)
33
4.1
Furniture and equipment
831
715
787
116
16.2
44
5.6
Professional services
456
488
350
(32
)
(6.6
)
106
30.3
Advertising
442
393
456
49
12.5
(14
)
(3.1
)
Loan related expenses
396
473
265
(77
)
(16.3
)
131
49.4
Deposit insurance
300
300
313
—
—
(13
)
(4.2
)
Director fees
270
260
265
10
3.8
5
1.9
Other expenses
592
636
634
(44
)
(6.9
)
(42
)
(6.6
)
Total noninterest expense
13,929
14,071
13,019
(142
)
(1.0
)
910
7.0
Income before provision for income taxes
18,652
18,487
21,528
165
0.9
(2,876
)
(13.4
)
Provision for income taxes
4,180
4,199
5,037
(19
)
(0.5
)
(857
)
(17.0
)
Net income
$
14,472
$
14,288
$
16,491
$
184
1.3
%
$
(2,019
)
(12.2
)
%
Effective tax rate
22.4
%
22.7
%
23.4
%
Net income per common share - Basic
$
1.44
$
1.43
$
1.64
Net income per common share - Diluted
1.42
1.40
1.61
Weighted average common shares outstanding - Basic
10,041
10,012
10,033
Weighted average common shares outstanding - Diluted
10,221
10,199
10,212
*NM=Not meaningful
UNITY BANCORP, INC.
YTD CONSOLIDATED STATEMENTS OF INCOME
For the six months ended June 30,
Current YTD vs. Prior YTD
(In thousands, except percentages and per share amounts)
2026
2025
$
%
INTEREST INCOME
Interest-bearing deposits
$
1,013
$
819
$
194
23.7
%
FHLB stock
274
312
(38
)
(12.2
)
Securities:
Taxable
2,800
3,521
(721
)
(20.5
)
Tax-exempt
42
35
7
20.0
Total securities
2,842
3,556
(714
)
(20.1
)
Loans:
SBA loans
1,684
1,790
(106
)
(5.9
)
Commercial loans
51,525
44,666
6,859
15.4
Commercial construction loans
6,385
5,330
1,055
19.8
Residential mortgage loans
21,324
20,337
987
4.9
Consumer loans
2,895
2,837
58
2.0
Residential construction loans
3,872
3,754
118
3.1
Total loans
87,685
78,714
8,971
11.4
Total interest income
91,814
83,401
8,413
10.1
INTEREST EXPENSE
Interest-bearing demand deposits
3,994
3,520
474
13.5
Savings deposits
6,451
5,311
1,140
21.5
Brokered deposits
4,513
3,573
940
26.3
Time deposits
12,411
12,975
(564
)
(4.3
)
Borrowed funds and subordinated debentures
1,887
2,214
(327
)
(14.8
)
Total interest expense
29,256
27,593
1,663
6.0
Net interest income
62,558
55,808
6,750
12.1
Provision for credit losses, loans
2,083
3,083
(1,000
)
(32.4
)
Provision for credit losses, off-balance sheet
133
95
38
40.0
Release of credit losses, securities
—
(2,036
)
(2,036
)
*NM
Net interest income after provision for credit losses
60,342
54,666
5,676
10.4
NONINTEREST INCOME
Branch fee income
1,101
912
189
20.7
Service and loan fee income
1,570
1,400
170
12.1
Gain on sale of SBA loans held for sale, net
640
302
338
111.9
Gain on sale of mortgage loans, net
905
603
302
50.1
BOLI income
430
334
96
28.7
Net securities (losses) gains
(725
)
3,551
(4,276
)
*NM
Other income
876
814
62
7.6
Total noninterest income
4,797
7,916
(3,119
)
(39.4
)
NONINTEREST EXPENSE
Compensation and benefits
17,342
16,062
1,280
8.0
Processing and communications
2,277
1,966
311
15.8
Occupancy
1,829
1,689
140
8.3
Furniture and equipment
1,546
1,533
13
0.8
Professional services
944
714
230
32.2
Advertising
835
847
(12
)
(1.4
)
Loan related expenses
868
311
557
179.1
Deposit insurance
600
554
46
8.3
Director fees
530
760
(230
)
(30.3
)
Other expenses
1,230
1,194
36
3.0
Total noninterest expense
28,001
25,630
2,371
9.3
Income before provision for income taxes
37,138
36,952
186
0.5
Provision for income taxes
8,378
8,863
(485
)
(5.5
)
Net income
$
28,760
$
28,089
$
671
2.4
%
Effective tax rate
22.6
%
24.0
%
Net income per common share - Basic
$
2.87
$
2.79
Net income per common share - Diluted
2.82
2.74
Weighted average common shares outstanding - Basic
10,026
10,043
Weighted average common shares outstanding - Diluted
10,210
10,229
*NM=Not meaningful
UNITY BANCORP, INC.
QUARTER TO DATE NET INTEREST MARGIN
For the three months ended
(Dollar amounts in thousands, interest amounts and
June 30, 2026
June 30, 2025
interest rates/yields on a fully tax-equivalent basis)
Average Balance
Interest
Rate/Yield
Average Balance
Interest
Rate/Yield
ASSETS
Interest-earning assets:
Interest-bearing deposits
$
49,429
$
455
3.69
%
$
43,985
$
487
4.44
%
FHLB stock
7,012
140
8.03
7,626
130
6.82
Securities:
Taxable
116,246
1,391
4.78
138,283
1,735
5.02
Tax-exempt
2,197
28
5.17
1,471
20
5.59
Total securities (A)
118,443
1,419
4.79
139,754
1,755
5.02
Loans:
SBA loans
41,163
840
8.16
48,646
856
7.04
Commercial loans
1,566,240
26,509
6.70
1,383,062
23,352
6.68
Commercial construction loans
167,917
3,347
7.89
113,959
2,384
8.28
Residential mortgage loans
669,245
10,411
6.22
658,239
10,390
6.31
Consumer loans
88,833
1,471
6.55
82,265
1,491
7.17
Residential construction loans
90,479
2,047
8.95
72,525
1,758
9.59
Total loans (B)
2,623,877
44,625
6.73
2,358,696
40,231
6.75
Total interest-earning assets
$
2,798,761
$
46,639
6.68
%
$
2,550,061
$
42,603
6.70
%
Noninterest-earning assets:
Cash and due from banks
26,650
21,601
Allowance for credit losses
(33,833
)
(28,067
)
Other assets
102,359
95,195
Total noninterest-earning assets
95,176
88,729
Total assets
$
2,893,937
$
2,638,790
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
Interest-bearing demand deposits
$
396,128
$
2,084
2.11
%
$
354,353
$
1,898
2.15
%
Savings deposits
570,929
3,291
2.31
487,307
2,718
2.24
Brokered deposits
261,454
2,247
3.45
207,128
1,786
3.46
Time deposits
706,984
6,282
3.56
682,426
6,560
3.86
Total interest-bearing deposits
1,935,495
13,904
2.88
1,731,214
12,962
3.00
Borrowed funds and subordinated debentures
95,890
904
3.73
118,166
1,081
3.62
Total interest-bearing liabilities
$
2,031,385
$
14,808
2.92
%
$
1,849,380
$
14,043
3.05
%
Noninterest-bearing liabilities:
Noninterest-bearing demand deposits
468,772
442,151
Other liabilities
27,705
34,464
Total noninterest-bearing liabilities
496,477