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Unity Bancorp, Inc. operates as the bank holding company for Unity Bank that provides commercial and retail banking services. It offers personal and business checking, money market, savings, retirement, money market accounts, as well as time and noninterest and interest-bearing demand deposits. The company also provides commercial, small business administration, consumer, mortgage, and home equity and personal loans; and owner and non-owner-occupied commercial mortgages. In addition, it is involved in the residential construction, commercial, and industrial lending activities secured by business assets, including real estate, receivables, inventory, and equipment. Further, the company offers credit and debit cards, wire transfers, safe deposit boxes, automated teller, and internet and mobile banking services; automated clearing house origination and remote deposit capture services; and business services, such as escrow account, merchant, and online services. Unity Bancorp, Inc. was founded in 1991 and is headquartered in Clinton, New Jersey.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $134M | - | $58M | $44M | 16.8% | 28.1% | 39.8% |
| 2024 | $104M | - | $41M | $47M | 14.0% | 3.4% | 4.4% |
| 2023 | $101M | - | $40M | $46M | 15.2% | 3.4% | 3.3% |
| 2022 | $98M | - | $38M | $41M | 16.1% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 97.64 | 100.94 | 104.40 | 133.75 |
| Pretax Income | 51.42 | 52.99 | 54.39 | 75.51 |
| Tax Provision | 12.96 | 13.29 | 12.94 | 17.56 |
| Net Income | 38.46 | 39.71 | 41.45 | 57.95 |
| Net Income Common Stockholders | 38.46 | 39.71 | 41.45 | 57.95 |
| Interest Expense | 10.63 | 48.50 | 57.13 | 56.59 |
| Interest Income | 100.74 | 143.49 | 155.74 | 173.63 |
| Selling General And Administration | 30.10 | 33.05 | 33.42 | 36.34 |
| Normalized Income | 38.46 | 39.71 | 41.45 | 57.95 |
| Basic EPS | 3.66 | 3.89 | 4.13 | 5.78 |
| Diluted EPS | 3.59 | 3.84 | 4.06 | 5.67 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.25 | 0.25 | 0.24 | 0.23 |
| Total Unusual Items | 0 | 0 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 38.46 | 39.71 | 41.45 | 57.95 |
| Reconciled Depreciation | 2.76 | 2.38 | 2.57 | 2.81 |
| Net Interest Income | 90.11 | 95 | 98.61 | 117.03 |
| Net Income From Continuing And Discontinued Operation | 38.46 | 39.71 | 41.45 | 57.95 |
| Diluted Average Shares | 10.71 | 10.34 | 10.20 | 10.22 |
| Basic Average Shares | 10.51 | 10.21 | 10.03 | 10.03 |
| Diluted NI Availto Com Stockholders | 38.46 | 39.71 | 41.45 | 57.95 |
| Net Income Including Noncontrolling Interests | 38.46 | 39.71 | 41.45 | 57.95 |
| Net Income Continuous Operations | 38.46 | 39.71 | 41.45 | 57.95 |
| Special Income Charges | 0 | 0 | 0 | 0 |
| Gain On Sale Of Security | -1.31 | -1.28 | -0.95 | 8.42 |
| Selling And Marketing Expense | 1.21 | 1.44 | 1.61 | 1.68 |
| General And Administrative Expense | 28.89 | 31.61 | 31.80 | 34.65 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Insurance And Claims | 1.02 | 1.72 | 1.10 | 1.17 |
| Salaries And Wages | 27.86 | 29.90 | 30.70 | 33.48 |
| Operating Revenue | 97.64 | 100.94 | 104.40 | 133.75 |
| Occupancy And Equipment | 5.46 | 5.87 | 6.32 | 6.63 |
| Professional Expense And Contract Services Expense | 1.40 | 1.56 | 1.68 | 1.76 |
| Other Non Interest Expense | 4.98 | 5.58 | 6.18 | 6.75 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Unity Bancorp, Inc.this co. | UNTY | $524M | 8.79↓ discount | 1.46 | 16.8% | - |
| Northrim BanCorp, Inc. | NRIM | $543M | 8.45 | 1.65 | 19.8% | - |
| Flushing Financial Corporation | FFIC | $542M | 16.00 | 0.76 | 2.7% | - |
| Midland States Bancorp, Inc. | MSBI | $533M | 21.34 | 1.19 | -22.0% | - |
| Southern First Bancshares, Inc. | SFST |
| $528M |
| 13.11 |
| 1.24 |
| 8.2% |
| - |
| ACNB Corporation | ACNB | $523M | 10.23 | 1.23 | 8.8% | - |
| Civista Bancshares, Inc. | CIVB | $515M | 9.18 | 0.93 | 8.5% | - |
| AlTi Global, Inc. | ALTI | $512M | - | 1.38 | -13.7% | -20.39 |
| Kearny Financial Corp. | KRNY | $507M | 15.52 | 0.67 | 3.5% | - |
| Peer Median | - | 13.11 | 1.21 | 5.9% | -20.39 | |