UNITY BANCORP INC /NJ/ UNTY
Unity Bancorp, Inc., ("we", "us", "our", the "Company" or "Registrant"), is a bank holding company incorporated under the laws of the State of New Jersey to serve as a holding company for Unity Bank (the "Bank"). The Company has also elected to become a financial holding company pursuant to regulations of the Board of Governors of the Federal Reserve system (the "FRB"). The Company was organized at the direction of the Board of Directors of the Bank for the purpose of acquiring all the capital stock of the Bank. Pursuant to the New Jersey Banking Act of 1948 (the "Banking Act"), and pursuant to approval of the shareholders of the Bank, the Company acquired the Bank and became its holding company on December 1, 1994. The primary activity of the Company is ownership and supervision of the Bank. The Company also owns 100 percent of the common equity of Unity (NJ) Statutory Trust II. The trust has issued $10.3 million of preferred securities to investors.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $173.6M | $155.7M | $143.5M | $100.7M | $84.8M | $78.9M | $75.6M | $67.3M | $55.3M | $47.0M |
| Interest expense | $117.0M | $98.6M | $95.0M | $10.6M | $7.7M | $14.5M | $18.1M | $13.5M | $9.5M | $8.8M |
| Pre-tax income | $75.5M | $54.4M | $53.0M | $51.4M | $48.1M | $31.1M | $30.3M | $27.3M | $22.4M | $20.5M |
| Income tax | $17.6M | $12.9M | $13.3M | $13.0M | $12.0M | $7.5M | $6.7M | $5.4M | $9.5M | $7.3M |
| Net income | $58.0M | $41.5M | $39.7M | $38.5M | $36.1M | $23.6M | $23.7M | $21.9M | $12.9M | $13.2M |
| EPS, basic | 5.78 | 4.13 | 3.89 | 3.66 | 3.47 | 2.21 | 2.18 | 2.04 | 1.22 | 1.40 |
| EPS, diluted | 5.67 | 4.06 | 3.84 | 3.59 | 3.43 | 2.19 | 2.14 | 2.01 | 1.20 | 1.38 |
| Shares, diluted (wtd. avg.) | $10.2M | $10.2M | $10.3M | $10.7M | $10.5M | $10.8M | $11.0M | $10.9M | $10.7M | $9.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $216.5M | $180.4M | $194.8M | $114.8M | $244.8M | $219.3M | $158.0M | $145.5M | $150.3M | $105.9M |
| Property, plant and equipment | $18.0M | $18.8M | $19.6M | $20.0M | $19.9M | $20.2M | $21.3M | $23.4M | $23.5M | $23.4M |
| Goodwill | $1.5M | $1.5M | $1.5M | $1.5M | $1.5M | $1.5M | $1.5M | $1.5M | $1.5M | $1.5M |
| Total assets | $2.97B | $2.65B | $2.58B | $2.44B | $2.03B | $1.96B | $1.72B | $1.58B | $1.46B | $1.19B |
| Long-term debt | — | $230.8M | $366.7M | $393.3M | $50.3M | $210.3M | $293.3M | $220.3M | $285.3M | $131.3M |
| Total liabilities | $2.62B | $2.36B | $2.32B | $2.21B | $1.83B | $1.79B | $1.56B | $1.44B | $1.34B | $1.08B |
| Retained earnings | $243.9M | $227.3M | $191.1M | $157.0M | $123.0M | $90.7M | $70.4M | $50.2M | $31.1M | $20.7M |
| Total equity | $345.6M | $295.6M | $261.4M | $239.2M | $205.7M | $173.9M | $160.7M | $138.5M | $118.1M | $106.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $44.9M | $48.0M | $46.9M | $42.7M | $32.5M | $22.3M | $33.2M | $38.6M | $14.4M | $8.8M |
| Depreciation and amortisation | $1.4M | $1.5M | $1.4M | $1.4M | $1.6M | $1.6M | $1.7M | $1.6M | $1.4M | $1.1M |
| Stock-based compensation | $2.1M | $1.8M | $1.8M | $1.7M | $1.6M | $1.4M | $1.3M | $1.1M | $746.0K | $545.0K |
| Capital expenditure | $564.0K | $693.0K | $955.0K | $1.5M | $1.2M | $559.0K | $709.0K | $1.5M | $1.5M | $9.6M |
| Investing cash flow | -$256.8M | -$92.8M | -$57.8M | -$541.3M | -$40.5M | -$175.4M | -$133.1M | -$140.7M | -$219.6M | -$81.8M |
| Financing cash flow | $248.0M | $30.5M | $90.9M | $368.6M | $33.5M | $214.3M | $112.4M | $97.3M | $249.5M | $90.8M |
| Dividends paid | $5.6M | $5.0M | $4.7M | $4.4M | $3.6M | $3.3M | $3.3M | $2.8M | $2.4M | $1.5M |
| Buybacks | $5.0M | $6.2M | $15.7M | $42.0K | $4.2M | $7.4M | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000920427-26-000012.
Others in SIC 6022
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| BNY | Bank of New York Mellon Corp | $111.84B | 22.3x | 7.8% |
| STT | STATE STREET CORP | $53.36B | 20.7x | 7.3% |
| FITB | FIFTH THIRD BANCORP | $49.76B | 15.5x | -5.0% |
| MTB | M&T BANK CORP | $34.64B | 14.1x | 7.5% |
| NTRS | NORTHERN TRUST CORP | $34.15B | 21.4x | 6.1% |
| CFG | CITIZENS FINANCIAL GROUP INC/RI | $29.81B | 18.3x | 6.7% |
| FCNCA | FIRST CITIZENS BANCSHARES INC /DE/ | $25.48B | 13.4x | -2.2% |
| EWBC | EAST WEST BANCORP INC | $17.92B | 13.7x | 2.4% |