UNITY BANCORP INC /NJ/ SEC 10-Q Report
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Unity Bancorp Inc., a New Jersey-based financial services company, has released its Form 10-Q report for the second quarter of 2025. The report highlights significant growth in key financial metrics and provides insights into the company's operational performance and future outlook.
Financial Highlights
Unity Bancorp Inc. reported robust financial performance for the three months ended June 30, 2025, showcasing substantial growth across various metrics:
- Total Interest Income: $42.6 million, up from $37.987 million in the same period in 2024, driven by higher interest income from commercial loans.
- Net Interest Income: $28.557 million, an increase from $23.424 million in the same period in 2024, indicating improved interest income performance.
- Net Income: $16.491 million, compared to $9.454 million in the same period in 2024, showcasing strong profitability growth.
- Net Income Per Common Share – Basic: $1.64, up from $0.94 in the same period in 2024, reflecting increased earnings per share.
- Net Income Per Common Share – Diluted: $1.61, compared to $0.93 in the same period in 2024, indicating enhanced diluted earnings per share.
Business Highlights
Unity Bancorp Inc. also reported notable operational performance and provided insights into its business activities:
- Revenue Segments: The company reported revenue from various loan segments, including SBA loans, commercial loans, residential mortgage loans, and consumer loans. Commercial loans were the largest segment.
- Geographical Performance: The company's credit risk is geographically concentrated in New Jersey, particularly in the counties where it operates. This concentration could impact loan performance based on regional economic conditions.
- Sales Units: The company reported a total of $2,369,242 thousand in loans held for investment as of June 30, 2025, with commercial loans making up the largest portion at $1,511,129 thousand.
- Future Outlook: Unity Bancorp Inc. continues to monitor macro-economic trends, such as interest rate pressures and inflation, which could impact its operations. The company believes its current sources of liquidity are adequate to fund operations but acknowledges potential challenges in meeting future liquidity demands.
SEC Filing: UNITY BANCORP INC /NJ/ [ UNTY ] - 10-Q - Aug. 06, 2025