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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August 6 2020
Unity Bank’s Virtual Car Show Raises $5,000 for Family Promise of Hunterdon and Warren Counties

CLINTON, N.J. (August 6, 2020) – Unity Bank has donated $5,000 to Family Promise of Hunterdon County and Family Promise of Warren County after holding its first virtual car show. The 14th Annual Cruisin’ Bob’s Classic Car Show, which for the prior 13 years had been held at the bank’s Clinton headquarters, was virtual due to the coronavirus pandemic.

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July 23 2020
Unity Bancorp Reports Quarterly Earnings of $5.2 Million

Clinton, NJ, July 23, 2020 - Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, reported net income of $5.2 million, or $0.47 per diluted share, for the quarter ended June 30, 2020, an 11.4 percent decrease compared to $5.8 million, or $0.53 per diluted share for the prior year’s second quarter. For the six months ended June 30, 2020, Unity reported net income of $10.5 million, or $0.96 per diluted share, an 8.9 percent decrease compared to $11.6 million or $1.05 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 and governmental responses.

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June 9 2020
Unity Bank’s 14th Annual Classic Car Show Benefiting Family Promise Will Be Virtual in 2020

CLINTON, N.J. (June 9, 2020) – Unity Bank is seeking sponsors and classic car owners for the 14th Annual Cruisin’ Bob’s Classic Car Show, which for the last 13 years has been held at the bank’s Clinton headquarters, but will be virtual this year due to the coronavirus pandemic. All proceeds from the car show will benefit Family Promise of Hunterdon County and Family Promise of Warren County.
 

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May 14 2020
Unity Bank Makes American Banker Magazine’s Top 200 List

CLINTON, N.J. (May 14, 2020) – Unity Bancorp, Inc. (NASDAQ: UNTY), the parent company of Unity Bank, was the top ranked New Jersey community bank on the recently published American Banker magazine list of the Top 200 Publicly Traded Community Banks with less than $2 billion in assets. Unity was ranked 15th nationally on the respected industry list, which reviewed 511 institutions throughout the U.S.

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May 5 2020
Unity Announces New Chief Financial Officer

CLINTON, NJ,  - Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, announced today that industry veteran Anthony L. Cossetti will be joining the Company as Executive Vice President and Chief Financial Officer, effective June 8, 2020.  Mr. Cossetti has extensive experience in finance, accounting and reporting, budgeting, liquidity and capital management, strategic planning and interest rate risk management.

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April 29 2020
Unity Bank Provides $130 Million in PPP Loans, Saving Thousands of Jobs...

CLINTON, N.J. (April 29, 2020) – Gary Shiman, Co-Owner and Executive Vice President of Bellari Home Remodeling of Branchburg, represents one of the nearly 1,000 businesses that will receive more than $130 million in Unity Bank loans through the Small Business Administration (SBA) Paycheck Protection Program (PPP), the special funding initiative designed to help small businesses survive the coronavirus (COVID-19) pandemic.

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