Unity Bancorp Q1 net income $10.3M ($0.96 EPS); NIM down 28 bps; dividend raised 9%

UNITY BANCORP INC /NJ/

2023-Q1 EPS reported $0.96

Net income $10.3M ($0.96 diluted EPS) vs $10.0M ($0.93) prior quarter, up 3%.
Net interest margin 4.19%, down 28 bps QoQ; net interest income down $0.8M to $23.9M.
Provision for loan losses $0.1M vs $1.6M prior quarter; loans grew 1.2%.
Dividend raised 9% to $0.12/share; Q1 share repurchases of 337,945 shares for $8.2M.
COO John Kauchak retiring June 30; Chief Admin Officer Janice Bolomey resigning.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNITY BANCORP INC /NJ/ reported the three months ended March 31, 2023 results: net income $10.3 million, EPS $0.96 per diluted share.

Period: the three months ended March 31, 2023
Net income: $10.3 million
EPS: $0.96 per diluted share
Result: reported results

Exact text from the filing

Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, reported net income of $10.3 million, or $0.96 per diluted share, for the quarter ended March 31, 2023

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

UNITY BANCORP INC /NJ/ filing history →

Source: SEC EDGAR

accession 0000920427-23-000037

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