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Stock impact report

Unity Bancorp Reports Quarterly Earnings of $9.6 Million [Yahoo! Finance]

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: Yahoo! Finance
million, or $0.93 per diluted share, for the quarter ended March 31, 2024, compared to net income of $9.8 million, or $0.96 per diluted share for the quarter ended December 31, 2023. This represents a 1.9% decrease in net income and a 3.1% decrease in net income per diluted share. James A. Hughes, President and CEO, commented on the financial results: “We are pleased to announce another strong quarter for Unity Bancorp, Inc. For the quarter, we achieved $9.6 million of net income, equivalent to $0.93 per diluted share. Our core deposit franchise has demonstrated steady growth, reinforcing the strength of our balance sheet and contributing to impressive first quarter earnings metrics -- NIM of 4.09%, ROA of 1.58% and ROE of 14.49%. At Unity, we remain steadfast in our commitment to our shareholders. In addition to producing best-in-class earnings, we previously announced another increase to our cash dividend payout, the fifth increase in four years. This quarter, we repurchased app Show less Read more
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