CLINTON, N.J., Oct. 13, 2026 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ: UNTY, the "Company"), parent company of Unity Bank (the "Bank"), reported net income of $17.4 million, or $1.70 per diluted share, for the quarter ended September 30, 2026, compared to net income of $14.5 million, or $1.42 per diluted share for the quarter ended June 30, 2026. For the nine months ended September 30, 2026, Unity Bancorp, Inc. reported net income of $46.1 million, or $4.52 per diluted share, compared to net income of $42.5 million, or $4.15 per diluted share, for the nine months ended September 30, 2025.
James A. Hughes, CEO, commented on the financial results: “We are pleased to report another strong quarter for Unity, highlighted by net income of $17.4 million, or $1.70 per diluted share, and continued momentum across our core banking franchise. Loan and deposit growth remained robust, net interest income increased, net interest margin expanded, and asset quality improved meaningfully during the quarter. These results reflect the ongoing success of our relationship-driven banking model and the strength of the markets we serve.
During the quarter, we also completed the purchase of transferable federal investment tax credits, which reduced our tax expense and provided a $2.5 million benefit to earnings. Importantly, even excluding this one-time benefit, our underlying financial performance remained strong and was supported by healthy customer activity, disciplined balance sheet management, and steady execution across the organization. While interest rate expectations have shifted and deposit gathering remains competitive, we continue to see attractive growth opportunities throughout our markets. Credit quality trends are encouraging, our capital and liquidity positions remain strong, and customer engagement levels continue to support healthy loan and deposit production.
Looking ahead, we are confident in Unity's long-term prospects as we prepare for the planned leadership transition next year to our President, George Boyan. Mr. Boyan has been deeply involved in every aspect of our strategic and operational execution, and I am confident that Unity is well-positioned for continued success under his leadership. With a strong balance sheet, a talented team, and a growing customer base, we remain focused on delivering sustainable growth 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 $3.3 billion in assets and $2.6 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, the impact of global military conflicts, 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.
You should not place undue reliance on any forward-looking statements. These statements speak only as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company undertakes no obligation to update or revise these statements to reflect events or circumstances occurring after the date of this press release.
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:
James Davies, FSVP and CFO
(908) 713-4330
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