secwatch.observer — SEC 8-K summary
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Issuer:     UNITY BANCORP INC /NJ/ (UNTY)
CIK:        0000920427
Form:       8-K
Filed at:   2023-04-17T23:59:59+00:00
Accession:  0000920427-23-000037
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/920427/000092042723000037/0000920427-23-000037-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/920427/000092042723000037/unty-20230417x8k.htm
  HTML page:      https://secwatch.observer/filing/0000920427-23-000037

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