February 11 2021
Unity Bank and NID HCA Partnership

NID-HCA Helps NJ & Lehigh Valley Residents Through All Phases of the Homeownership Cycle

CLINTON, N.J. (February 10, 2021) – Unity Bank recently donated $5,000 to the NID Housing Counseling Agency (NID-HCA), a U.S. Department of Housing and Urban Development (HUD) approved national network of housing counselors and community-development consultants with offices in Plainfield and Allentown, Pa. Unity is launching a partnership with the agency to supplement the bank’s Low-Moderate Income Mortgage Program.
 

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February 3 2021
Unity Bank Donates $22,500

CLINTON, N.J. (February 3, 2021) – Unity Bank recently donated $22,500 to nonprofit organizations throughout its service area, a special one time gift on behalf of the bank’s customers. Nine nonprofits representing the bank’s various service regions each received a $2,500 gift.

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January 22 2021
Unity Bancorp Reports Quarterly Earnings of $7.3 Million

Clinton, NJ, January 22, 2021 - Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, reported net income of $7.3 million, or $0.69 per diluted share, for the quarter ended December 31, 2020, a 20.0 percent increase compared to net income of $6.1 million, or $0.55 per diluted share for the prior year’s fourth quarter. For the year ended December 31, 2020, Unity reported net income of $23.6 million, or $2.19 per diluted share, compared to net income of $23.7 million, or $2.14 per diluted share for the year ended December 31, 2019. Overall earnings were impacted primarily due to an increased provision for loan losses, necessitated by the COVID-19 pandemic, partially offset by revenue generated by the Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”).

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December 31 2020
Unity Bank Donates $34,200 to Food Pantries in NJ and Lehigh Valley

CLINTON, N.J. (December 31, 2020) – Unity Bank and its employees have donated a record total of $34,200 to 19 food pantries in New Jersey and Lehigh Valley, Pennsylvania. The funds were contributed by Unity Bank employees and matched by the bank as part of a special annual holiday community service project that was started more than 10 years ago.
 

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November 2 2020
Unity Bank Donates $5,000 to America’s Grow-A-Row

Unity Bank recently donated $5,000 to America’s Grow-A-Row (AGAR), a non-profit organization in Pittstown that grows and gleans fresh, healthy fruits and vegetables that are donated to those facing hunger throughout New Jersey. AGAR, supported by more than 9,000 volunteers including many Unity Bank employees, donated more than 1.5 million pounds of farm fresh produce to those in need last year. Chip Paillex, AGAR’s Founder & President, said the organization hopes to donate 1.9 million pounds of produce this year, food that is needed by many people struggling through the economic challenges presented by the coronavirus pandemic. Unity’s donation will help AGAR cover some of the incremental expenses associated with the additional volume. To learn more about America’s Grow or donate, please visit americasgrowarow.org.
 

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October 26 2020
Flemington’s Adam Kuras Joins Unity Bank as Chief Lending Officer

CLINTON, N.J. (October 26, 2020) – Adam Kuras has joined Unity Bank as Chief Lending Officer bringing more than 27 years of banking and finance leadership experience to the community bank.
 
“We are very pleased to announce that Adam has joined our leadership team,” said Unity Bank President & CEO James A. Hughes. “Adam has extensive experience providing customers with product solutions for financing, working capital, real estate, asset acquisition and cash management needs. Unity’s commercial lending program continues to grow and Adam will play an important role in its future success.”
 

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October 21 2020
Unity Bancorp Reports Quarterly Earnings of $5.8 Million

Clinton, NJ, October 21, 2020 - Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, reported net income of $5.8 million, or $0.54 per diluted share, for the quarter ended September 30, 2020, a 3.3 percent decrease compared to net income of $6.0 million, or $0.54 per diluted share for the prior year’s third quarter. For the nine months ended September 30, 2020, Unity reported net income of $16.3 million, or $1.50 per diluted share, a 7.0 percent decrease compared to net income of $17.5 million or $1.59 per diluted share for the prior year’s period. The decreases in earnings were primarily due to an increased provision for loan losses, necessitated by the COVID-19 pandemic.

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October 14 2020
Unity Bank Donates $5,000 to Housing Authority of Plainfield

Unity Bank has donated $5,000 to the Housing Authority of Plainfield (HAP) to support activities associated with affordable housing; and economic revitalization of low or moderate-income areas within the community. “Unity Bank is committed to assisting organizations who provide vital services in the community,” said Unity Bank President & CEO James A. Hughes. “We are pleased to be able to support the housing authority during these challenging times because its services are more important than ever.” Pictured (from left) are Randall Wood, HAP Executive Director; Paige Burwell, Unity Bank Area Manager; Chris Bono, Unity Bank Commercial Loan Officer; and Lewis Hurd, HAP Director of Finance.
 

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August 20 2020
Unity Supports Elumis Foundation’s Effort to Bring Electricity to Impoverished Families

CLINTON, N.J. (August 20, 2020) – Unity Bank has donated $2,500 to the Elumis Foundation to help support the organization’s mission of providing families in impoverished areas of the world with solar kits. The foundation was founded by Franklin Lakes teenagers Eva and Michael Sakellakis who were inspired by their father’s solar energy business.

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August 11 2020
Don’t Let COVID-19 Turn Our Downtowns into Ghost Towns

As a community banker, I see the toll the pandemic has had on small businesses on a daily basis. Many small businesses that we know personally are struggling to survive. While I completely understand the need to proceed with caution when it comes to COVID-19 and re-opening businesses, I think we can and should be doing more.

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