April 15 2021
Unity Bancorp Reports Quarterly Earnings of $8.5 Million

Clinton, NJ, April 15, 2021 - Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, reported net income of $8.5 million, or $0.80 per diluted share, for the quarter ended March 31, 2021, a 58.3% increase compared to net income of $5.4 million, or $0.49 per diluted share for the prior year’s first quarter, primarily due to revenue generated by the Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”), improved net interest margin and an increase in non-interest income.

Read Story: Unity Bancorp Reports Quarterly Earnings of $8.5 Million


April 6 2021
Unity Bank President & CEO James A. Hughes Appointed to ICBA Large Community Bank Council

CLINTON, N.J. (April 6, 2021) – Unity Bank President & CEO James A. Hughes has been appointed to the Independent Community Bankers of America’s (ICBA) Large Community Bank Council. ICBA is the nation’s voice for community banks.

Read Story: Unity Bank President & CEO James A. Hughes Appointed to ICBA Large Community Bank Council


March 26 2021
Unity Bank Names New CFO

CLINTON, N.J. (March 26, 2021) – Banking industry veteran George Boyan has joined Unity Bank as Chief Financial Officer (CFO) bringing more than 20 years of financial services industry leadership experience to the community bank. Boyan is responsible for financial and accounting operations for Unity Bancorp, Inc. (NASDAQ: UNTY), the parent company of Unity Bank, which manages approximately $2 billion in assets and $1.6 billion in deposits.

Read Story: Unity Bank Names New CFO


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.

Read Story: Unity Bank and NID HCA Partnership


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.

Read Story: Unity Bank Donates $22,500


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”).

Read Story: Unity Bancorp Reports Quarterly Earnings of $7.3 Million


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.

Read Story: Unity Bank Donates $34,200 to Food Pantries in NJ and Lehigh Valley


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.

Read Story: Unity Bank Donates $5,000 to America’s Grow-A-Row


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.”

Read Story: Flemington’s Adam Kuras Joins Unity Bank as Chief Lending Officer


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.

Read Story: Unity Bancorp Reports Quarterly Earnings of $5.8 Million