Unity Bancorp Reports Quarterly Earnings of $11.6 Million

Financial Performance - Unity Bancorp, Inc. reported net income of $11.6 million, or $1.13 per diluted share, for Q1 2025, reflecting a 0.8% increase from the previous quarter's net income of $11.5 million [1] - The company achieved a return on assets (ROA) of 1.83% and a return on equity (ROE) of 15.56% [2] Lending and Deposits - Commercial and residential lending saw strong originations, with loans increasing by $84.5 million, a 3.74% rise from year-end [3] - Customer deposits (excluding brokered deposits) grew by $90.7 million, or 4.82%, quarter over quarter [3] Strategic Outlook - The company aims to manage its balance sheet diligently, focusing on funding future credit growth through deposit growth [3] - Unity Bancorp remains committed to disciplined credit-risk management, including conservative underwriting practices and proactive management of delinquency and non-performing assets [3] Market Context - Despite capital market volatility due to tariffs, Unity Bancorp does not anticipate adverse impacts on loan demand, with some small business customers potentially benefiting from tariffs on foreign goods [4] - The company emphasizes its role as a trusted advisor to customers facing challenges, reinforcing its commitment to local economic development [4] Company Overview - Unity Bancorp, Inc. is headquartered in Clinton, New Jersey, with approximately $2.8 billion in assets and $2.2 billion in deposits [5] - Unity Bank, the wholly owned subsidiary, serves retail, corporate, and small business customers through a robust branch network across several counties in New Jersey and Pennsylvania [5]