Unity Bancorp buys $27.6M tax credits, expects $2.5M Q3 net income boost

UNITY BANCORP INC /NJ/

Purchased ~$27.6M of transferable federal investment tax credits for ~$25.1M (~$0.91 per $1 credit).
Expects one-time reduction in income tax expense and ~$2.5M increase in net income in quarter ending Sept 30, 2026.
Credits subject to five-year recapture period; company obtained contractual protections to mitigate recapture losses.
Investment consistent with strategy of prudently enhancing shareholder value via tax-advantaged investments.

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