Unity Bancorp, Inc. (UNTY) 10-Year Financial Performance & Capital Metrics

UNTY • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingNortheast Community Banks

AboutUnity Bancorp, Inc. operates as the holding company for Unity Bank that provides commercial and retail banking products and services to individuals, small and medium sized businesses, and professional communities. The company offers personal and business checking accounts, time deposits, money market accounts, and regular savings accounts, as well as noninterest and interest-bearing demand deposits. It also provides small business administration loans; commercial loans; and residential mortgage and consumer loans, including residential real estate, home equity lines and loans, and residential construction lines, as well as personal loans. the company offered its services through the Internet and nineteen branch offices located in Bergen, Hunterdon, Middlesex, Somerset, Union, and Warren counties in New Jersey, as well as Northampton County, Pennsylvania. Unity Bancorp, Inc. was incorporated in 1991 and is based in Clinton, New Jersey.Show more

Net Interest Income $99M +3.8%
Total Revenue $163M +8.2%
Net Income $41M +4.4%
Return on Equity 14.88% -6.2%
Net Interest Margin 3.72% +0.9%
Efficiency Ratio 29.19% -4.5%
ROA 1.58% +0.2%
Equity / Assets 11.14% +9.8%
Book Value per Share 28.97 +14.6%
Tangible BV/Share 28.82 +14.6%
Debt/Equity 0.78 -44.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Strong NIM of 3.7%
✓Efficient operations: 29.2% efficiency ratio
✓11 consecutive years of dividend growth
✓Well capitalized: 11.1% equity/assets
✓Good 3Y average ROE of 16.0%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y13.97%

5Y14.16%

3Y19.41%

TTM-

Profit (Net Income) CAGR

10Y20.53%

5Y11.87%

3Y4.7%

TTM35.94%

EPS CAGR

10Y18.56%

5Y13.66%

3Y5.78%

TTM35.73%

ROCE

10Y Avg9.12%

5Y Avg10.24%

3Y Avg9.71%

Latest9.22%

Peer Comparison

Northeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DCOMDime Community Bancshares, Inc.	1.37B	31.13	56.60	0.1%	4.5%	4.02%	6.79%	0.70
EBCEastern Bankshares, Inc.	4.4B	19.56	29.64	91.64%	11.17%	1.3%	6.14%	0.01
LYGLloyds Banking Group plc	80.5B	5.48	21.92	10.79%	11.75%	9.93%		1.76
CFGCitizens Financial Group, Inc.	26.03B	60.61	20.00	1.31%	12.22%	6.6%	7.22%	0.51
PFSProvident Financial Services, Inc.	2.65B	20.29	19.32	63.91%	10.13%	7.51%	16.04%	0.93
CBUCommunity Bank System, Inc.	3.3B	62.73	18.24	24.44%	19.4%	10.34%	6.71%	0.57
VLYValley National Bancorp	6.7B	12.02	17.42	6.51%	10.65%	6.53%	8.18%	0.50
INDBIndependent Bank Corp.	3.8B	76.62	16.95	6.89%	19.72%	7.76%	5.51%	0.23

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	33.99M	38.26M	45.86M	53.75M	57.59M	64.44M	77.04M	90.11M	95M	98.61M
NII Growth %	0.13%	0.13%	0.2%	0.17%	0.07%	0.12%	0.2%	0.17%	0.05%	0.04%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	41.65M	47.02M	55.31M	67.26M	75.65M	78.92M	84.78M	100.74M	143.49M	155.74M
Interest Expense	7.66M	8.77M	9.45M	13.52M	18.05M	14.48M	7.74M	10.63M	48.5M	57.13M
Loan Loss Provision	500K	1.22M	1.65M	2.05M	2.1M	7M	181K	4.27M	3.17M	3.95M
Non-Interest Income+	7.73M	7.99M	7.62M	9.18M	8.46M	12.11M	11M	7.53M	7.22M	7.33M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	49.38M	55.01M	62.93M	76.45M	84.11M	91.02M	95.78M	108.27M	150.72M	163.07M
Revenue Growth %	0.12%	0.11%	0.14%	0.21%	0.1%	0.08%	0.05%	0.13%	0.39%	0.08%
Non-Interest Expense	26.85M	24.56M	29.39M	33.57M	33.64M	38.42M	39.73M	41.94M	46.06M	47.6M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	14.37M	20.47M	22.43M	27.31M	30.32M	31.12M	48.13M	51.42M	52.99M	54.39M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.5%	0.42%	0.1%	0.22%	0.11%	0.03%	0.55%	0.07%	0.03%	0.03%
Pretax Income+	14.37M	20.47M	22.43M	27.31M	30.32M	31.12M	48.13M	51.42M	52.99M	54.39M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	4.81M	7.26M	9.54M	5.39M	6.66M	7.47M	12.01M	12.96M	13.29M	12.94M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	9.56M	13.21M	12.89M	21.92M	23.65M	23.64M	36.12M	38.46M	39.71M	41.45M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.49%	0.38%	-0.02%	0.7%	0.08%	-0%	0.53%	0.06%	0.03%	0.04%
Net Income (Continuing)	9.56M	13.21M	12.89M	21.92M	23.65M	23.64M	36.12M	38.46M	39.71M	41.45M
EPS (Diluted)+	1.02	1.38	1.20	2.01	2.14	2.19	3.43	3.59	3.84	4.06
EPS Growth %	0.38%	0.35%	-0.13%	0.68%	0.06%	0.02%	0.57%	0.05%	0.07%	0.06%
EPS (Basic)	1.03	1.40	1.22	2.04	2.18	2.21	3.47	3.66	3.89	4.13
Diluted Shares Outstanding	9.38M	9.57M	10.75M	10.92M	11.03M	10.81M	10.55M	10.71M	10.34M	10.2M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	22.68M	22.11M	23.7M	20.03M	21.11M	22.75M	244.82M	114.79M	194.78M	180.44M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	947.53M	1.02B	1.23B	1.35B	1.48B	1.65B	1.71B	2.22B	2.28B	2.38B
Investments Growth %	0.14%	0.08%	0.2%	0.1%	0.09%	0.12%	0.03%	0.3%	0.03%	0.04%
Long-Term Investments	894.67M	983.02M	1.18B	1.31B	1.41B	1.61B	1.65B	2.13B	2.19B	2.36B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	1.5M	1.52M	1.52M	1.52M	1.52M	1.52M	1.52M	1.52M	1.52M	1.52M
Intangible Assets	16K	0	0	0	0	0	0	0	0	0
PP&E (Net)	15.17M	23.4M	23.47M	23.37M	24.11M	22.59M	25.11M	20M	19.57M	18.78M
Other Assets	87.37M	107.1M	166.75M	165.28M	181.54M	236.45M	29.75M	51.44M	54.62M	47.59M
Total Current Assets	80.17M	69.36M	83.7M	76.11M	94.5M	82.5M	316.9M	232.73M	300.12M	208.66M
Total Non-Current Assets	1B	1.12B	1.37B	1.5B	1.62B	1.88B	1.72B	2.21B	2.28B	2.45B
Total Assets+	1.08B	1.19B	1.46B	1.58B	1.72B	1.96B	2.03B	2.44B	2.58B	2.65B
Asset Growth %	0.08%	0.1%	0.22%	0.08%	0.09%	0.14%	0.04%	0.2%	0.05%	0.03%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.02%	0.02%	0.02%
Accounts Payable	461K	430K	436K	406K	455K	248K	129K	691K	1.92M	1.7M
Total Debt+	107.47M	146.31M	285.31M	220.31M	293.31M	212.73M	55.61M	398.91M	366.75M	230.81M
Net Debt	84.78M	124.2M	261.61M	200.28M	272.2M	189.98M	-189.21M	284.12M	171.97M	50.38M
Long-Term Debt	92.47M	131.31M	285.31M	220.31M	293.31M	210.31M	50.31M	393.31M	366.75M	230.81M
Short-Term Debt	15M	15M	0	0	0	0	0	0	0	0
Other Liabilities	0	-15M	0	0	0	4.71M	-1.36M	-5.6M	0	25.61M
Total Current Liabilities	913.93M	967.3M	1.05B	1.22B	1.26B	1.57B	1.77B	1.81B	1.95B	2.1B
Total Non-Current Liabilities	92.47M	116.31M	285.31M	220.31M	293.31M	218.36M	55.61M	393.31M	366.75M	256.42M
Total Liabilities	1.01B	1.08B	1.34B	1.44B	1.56B	1.79B	1.83B	2.21B	2.32B	2.36B
Total Equity+	78.47M	106.29M	118.11M	138.49M	160.71M	173.91M	205.73M	239.23M	261.43M	295.58M
Equity Growth %	0.12%	0.35%	0.11%	0.17%	0.16%	0.08%	0.18%	0.16%	0.09%	0.13%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.13%	0.14%	0.11%	0.17%	0.16%	0.14%	0.19%	0.17%	0.16%	0.15%
Book Value per Share	8.36	11.10	10.99	12.69	14.57	16.08	19.51	22.35	25.29	28.97
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	59.37M	85.38M	86.78M	88.48M	90.11M	91.87M	94M	97.2M	100.43M	103.94M
Additional Paid-in Capital	0	0	0	0	0	0	0	0	0	0
Retained Earnings	19.57M	20.75M	31.12M	50.16M	70.44M	90.67M	123.04M	156.96M	191.11M	227.33M
Accumulated OCI	-467K	160K	206K	-157K	154K	-1.19M	322K	-3.26M	-2.74M	-2.11M
Treasury Stock	0	0	0	0	0	-7.44M	-11.63M	-11.68M	-27.37M	-33.58M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	2.98M	8.79M	14.45M	38.59M	33.2M	22.32M	32.53M	42.67M	46.91M	47.99M
Operating CF Growth %	-0.75%	1.95%	0.64%	1.67%	-0.14%	-0.33%	0.46%	0.31%	0.1%	0.02%
Net Income	9.56M	13.21M	12.89M	21.92M	23.65M	23.64M	36.12M	38.46M	39.71M	41.45M
Depreciation & Amortization	530K	734K	1.24M	1.94M	1.62M	1.91M	1.61M	2.76M	2.38M	2.58M
Deferred Taxes	367K	110K	1.55M	-1.26M	-299K	-3.09M	-1.46M	-1.21M	-87K	-1.75M
Other Non-Cash Items	-7.6M	-6.45M	-3.21M	13.88M	5.48M	1.42M	-7.11M	-230K	-1.28M	894K
Working Capital Changes	-325K	639K	1.23M	1.06M	1.48M	-2.98M	1.75M	1.21M	4.44M	2.99M
Cash from Investing+	-110.69M	-81.83M	-219.63M	-140.65M	-133.12M	-175.36M	-40.52M	-541.28M	-57.85M	-92.81M
Purchase of Investments	-3.52M	-20.66M	-29.55M	-1.71M	-13.08M	-3.8M	-58.32M	-78.64M	-876K	-17.75M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0	0
Other Investing	-117.76M	-81.83M	-209.38M	-144.22M	-131.2M	-192.95M	-8.26M	-471.02M	-62.47M	-83.08M
Cash from Financing+	66.04M	90.78M	249.54M	97.32M	112.41M	214.33M	33.49M	368.59M	90.92M	30.49M
Dividends Paid	-1.11M	-1.52M	-2.38M	-2.8M	-3.25M	-3.3M	-3.62M	-4.37M	-4.72M	-5.02M
Share Repurchases	0	0	0	0	0	-7.44M	-4.19M	-42K	-15.69M	-6.21M
Stock Issued	0	14.41M	509K	576K	453K	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	1000K	1000K	-1000K	1000K	-1000K	-1000K	1000K	-1000K	-1000K
Other Financing	100.15M	51.78M	97.92M	165.13M	42.67M	308.07M	201.3M	30M	137.9M	177.65M
Net Change in Cash+	-41.66M	17.74M	44.36M	-4.74M	12.5M	61.3M	25.51M	-130.03M	79.98M	-14.34M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	129.82M	88.16M	105.89M	150.25M	145.51M	158.02M	219.31M	244.82M	114.79M	194.78M
Cash at End	88.16M	105.89M	150.25M	145.51M	158.02M	219.31M	244.82M	114.79M	194.78M	180.44M
Interest Paid	7.67M	8.8M	9.45M	13.55M	18.01M	14.69M	7.86M	10.07M	47.26M	57.35M
Income Taxes Paid	4.79M	7.59M	7M	5.94M	8.22M	11.11M	13.99M	13.93M	13.22M	14.07M
Free Cash Flow+	2.03M	-807K	12.94M	37.08M	32.49M	21.76M	31.28M	41.19M	45.95M	47.29M
FCF Growth %	-0.82%	-1.4%	17.03%	1.87%	-0.12%	-0.33%	0.44%	0.32%	0.12%	0.03%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	12.86%	14.3%	11.49%	17.08%	15.81%	14.13%	19.03%	17.29%	15.86%	14.88%
Return on Assets (ROA)	0.91%	1.16%	0.97%	1.44%	1.43%	1.29%	1.81%	1.72%	1.58%	1.58%
Net Interest Margin	3.13%	3.22%	3.15%	3.4%	3.35%	3.29%	3.79%	3.69%	3.68%	3.72%
Efficiency Ratio	54.38%	44.64%	46.71%	43.92%	39.99%	42.21%	41.48%	38.74%	30.56%	29.19%
Equity / Assets	7.23%	8.93%	8.11%	8.77%	9.35%	8.88%	10.12%	9.78%	10.14%	11.14%
Book Value / Share	8.36	11.1	10.99	12.69	14.57	16.08	19.51	22.35	25.29	28.97
NII Growth	12.88%	12.55%	19.87%	17.21%	7.16%	11.88%	19.56%	16.96%	5.43%	3.8%
Dividend Payout	11.6%	11.54%	18.46%	12.78%	13.76%	13.95%	10.01%	11.37%	11.89%	12.11%

Revenue by Segment

	2021	2022	2023	2024
Service and loan fee income	2.76M	2.43M	1.93M	2.17M
Service and loan fee income Growth	-	-11.75%	-20.76%	12.29%
Branch fee income	1.13M	1.12M	997K	1.39M
Branch fee income Growth	-	-1.15%	-10.74%	39.52%

Frequently Asked Questions

Valuation & Price

Unity Bancorp, Inc. (UNTY) has a price-to-earnings (P/E) ratio of 13.6x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Unity Bancorp, Inc. (UNTY) grew revenue by 8.2% over the past year. This is steady growth.

Yes, Unity Bancorp, Inc. (UNTY) is profitable, generating $54.0M in net income for fiscal year 2024 (25.4% net margin).

Dividend & Returns

Yes, Unity Bancorp, Inc. (UNTY) pays a dividend with a yield of 0.89%. This makes it attractive for income-focused investors.

Unity Bancorp, Inc. (UNTY) has a return on equity (ROE) of 14.9%. This is reasonable for most industries.

Industry Metrics

Unity Bancorp, Inc. (UNTY) has a net interest margin (NIM) of 3.7%. This indicates healthy earnings from lending activities.

Unity Bancorp, Inc. (UNTY) has an efficiency ratio of 29.2%. This is excellent, indicating strong cost control.

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