Unity Bancorp reports Q1 EPS $1.40 vs. $1.52 the previous quarter

James A. Hughes, CEO, commented on the financial results: “We are pleased to report another strong quarter for Unity Bancorp (UNTY), highlighted by solid profitability and continued execution of our organic growth strategy. For the quarter, we delivered net income of $14.3M, or $1.40 per diluted share, producing a 2.04% return on average assets and a 16.38% return on average equity. These results represent a $2.7M, or 23.2%, increase in net income compared to the same period last year, and reflect the underlying strength of our balance sheet and core earnings power. We entered 2026 with positive momentum, and during the first quarter we achieved balanced, organic growth on both sides of the balance sheet. As compared to year-end 2025, gross loans increased $56.9M, or 2.2%, while total customer deposits, excluding brokered deposits, grew $58.7M, or 2.9%, underscoring the continued success of our relationship-based banking model. As we move forward, we remain focused on growing loans and deposits in tandem, deepening customer relationships and supporting economic activity in the communities we serve.”