Unity Bancorp, Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2018
January 23, 2019 at 04:30 pm IST
Share
Unity Bancorp, Inc. reported consolidated earnings results for the fourth quarter and year ended December 31, 2018. For the quarter, the company reported net interest income of $14,164,000 compared to $12,500,000 a year ago. Net income was $5,803,000 compared to $2,500,000 a year ago. Basic net income per common share was $0.54 compared to $0.24 a year ago. Diluted net income per common share was $0.53 compared to $0.23 a year ago.
For the year, the company reported net interest income of $53,747,000 compared to $45,857,000 a year ago. Net income was $21,919,000 compared to $12,893,000 a year ago. Basic net income per common share was $2.04 compared to $1.22 a year ago. Diluted net income per common share was $2.01 compared to $1.20 a year ago.
Unity Bancorp, Inc. is a bank holding company that serves as a holding company for Unity Bank (the Bank). The primary activity of the Company is ownership and supervision of the Bank. The Bank, the Companyâs wholly owned subsidiary, provides financial services to retail, corporate and small business customers through its branch network located in Bergen, Hunterdon, Middlesex, Morris, Ocean, Somerset, Union and Warren Counties in New Jersey and Northampton County in Pennsylvania. The Bank conducts a traditional and community-oriented commercial banking business and offers services, including personal and business checking accounts, time deposits, money market accounts, savings accounts, credit cards, debit cards, wire transfers, safe deposit boxes, access to automated teller services and Internet and mobile banking, typical of a community banking business. The Bank also offers retirement accounts, automated clearing house (ACH) origination and remote deposit capture (RDC).
UNITY BANCORP, INC. 
