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Stock impact report

Unity Bancorp Reports Quarterly Earnings Of $9.1 Million [TheStreet.com]

Unity Bancorp, Inc. (UNTY) 
Last unity bancorp, inc. earnings: 4/17 06:00 am Check Earnings Report
US:NASDAQ Investor Relations: snl.com/irw/corporateprofile/101233
Company Research Source: TheStreet.com
of $9.1 million, or $0.85 per diluted share, for the quarter ended March 31, 2022, a 7.2 percent increase compared to net income of $8.5 million, or $0.80 per diluted share for the prior year's first quarter. James A. Hughes, President and CEO, commented on the financial results: "Building on the momentum from 2021, Unity Bancorp continues to generate outstanding financial performance. Despite speculation about rate hikes, outsized inflation, supply-chain issues, and geopolitical uncertainty, our outstanding team has delivered Unity's products and services to individuals and small businesses across New Jersey and the Lehigh Valley. Our loan portfolio grew nearly $70 million (over and above the nearly $18 million in PPP loans that were forgiven by the Small Business Administration), and our deposits grew more than $12 million. We do not simply measure our performance on financial metrics, but on our ability to come together, with our clients, and solve problems and deliver extraordina Show less Read more
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