---
schema_version: "secwatch.filing_event.v1"
accession: "0000920427-23-000037"
form_type: "8-K"
ticker: "UNTY"
cik: "0000920427"
company_name: "UNITY BANCORP INC /NJ/"
filed_at: "2023-04-17T23:59:59+00:00"
generated_at: "2026-06-17T01:43:08.721212+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000920427-23-000037
- form_type: 8-K
- ticker: UNTY
- cik: 0000920427
- company_name: UNITY BANCORP INC /NJ/
- filed_at: 2023-04-17T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/920427/000092042723000037/0000920427-23-000037-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/920427/000092042723000037/unty-20230417x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000920427-23-000037
- JSON: https://secwatch.observer/filing/0000920427-23-000037.json
- Plain text: https://secwatch.observer/filing/0000920427-23-000037.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/920427/000092042723000037/0000920427-23-000037-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.