other material
confidence high
sentiment positive
materiality 0.55
Unity Bancorp approves new share repurchase program for up to 500,000 shares (~5% of outstanding)
UNITY BANCORP INC /NJ/
- Board authorized repurchase of up to 500,000 shares (~5% of outstanding common stock).
- New program begins after completion of 2023 plan, which has 184,645 shares remaining.
- Since April 2023, company repurchased 315,355 shares under the prior program.
- CEO cites strong capital position and says repurchases may occur when stock trades near tangible book value.