Unity Bancorp recorded earnings per share of $1.40, surpassing the consensus estimate of $1.32. This represents an increase from the $1.13 reported in the same period last year.
The company generated revenue of $33.61 million for the quarter, slightly above the estimated $33.39 million. This marks an improvement from the $29.35 million reported a year ago.
James A. Hughes, CEO, commented: “We are pleased to report another strong quarter for Unity Bancorp highlighted by solid profitability and continued execution of our organic growth strategy.”
For the quarter, net interest income was $30.7 million, a decrease from $31.4 million in the previous year. Noninterest income totaled $2.9 million, down from $3.9 million last year.
Total deposits increased by $55.1 million, or 2.4 percent, from December 31, 2025. Uninsured or uncollateralized deposits represented 21.6 percent of total deposits as of March 31, 2026. Total gross loans rose by $56.9 million, or 2.2 percent, primarily due to growth in commercial and residential and commercial construction loan categories.
