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Unity Bancorp (UNTY) Financials

Unity Bancorp logo
$46.62 -3.60 (-7.17%)
Closing price 10/10/2025 04:00 PM Eastern
Extended Trading
$46.60 -0.02 (-0.03%)
As of 10/10/2025 05:09 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
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Annual Income Statements for Unity Bancorp

Annual Income Statements for Unity Bancorp

This table shows Unity Bancorp's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 38 40 41
Consolidated Net Income / (Loss)		 38 40 41
Net Income / (Loss) Continuing Operations		 38 40 41
Total Pre-Tax Income 		51 53 54
Total Revenue		 98 103 107
Net Interest Income / (Expense)		 90 95 99
Total Interest Income		 101 143 156
Loans and Leases Interest Income		 95 134 146
Investment Securities Interest Income		 4.81 7.34 7.38
Deposits and Money Market Investments Interest Income		 0.74 1.72 2.03
Total Interest Expense		 11 48 57
Deposits Interest Expense		 7.25 34 52
Long-Term Debt Interest Expense		 3.38 15 5.62
Total Non-Interest Income		 8.05 8.14 8.47
Other Service Charges		 2.82 4.44 1.64
Net Realized & Unrealized Capital Gains on Investments		 1.04 2.85 2.73
Other Non-Interest Income		 4.19 0.85 4.10
Provision for Credit Losses		 4.27 3.17 3.95
Total Non-Interest Expense		 42 47 49
Salaries and Employee Benefits		 27 29 30
Net Occupancy & Equipment Expense		 8.30 8.86 9.80
Marketing Expense		 1.21 1.44 1.61
Property & Liability Insurance Claims		 1.02 1.72 1.10
Other Operating Expenses		 4.97 5.91 6.48
Income Tax Expense		 13 13 13
Basic Earnings per Share		 $3.66 $3.89 $4.13
Weighted Average Basic Shares Outstanding		 10.51M 10.21M 10.03M
Diluted Earnings per Share		 $3.59 $3.84 $4.06
Weighted Average Diluted Shares Outstanding		 10.71M 10.34M 10.20M
Weighted Average Basic & Diluted Shares Outstanding		 10.59M 10.14M 10.06M
Cash Dividends to Common per Share		 $0.43 $0.48 $0.52

Quarterly Income Statements for Unity Bancorp

This table shows Unity Bancorp's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 9.94 9.96 10 9.70 9.95 9.77 9.59 9.45 11 12
Consolidated Net Income / (Loss)		 9.94 9.96 10 9.70 9.95 9.77 9.59 9.45 11 12
Net Income / (Loss) Continuing Operations		 9.94 9.96 10 9.70 9.95 9.77 9.59 9.45 11 12
Total Pre-Tax Income 		13 14 14 13 13 13 13 13 15 14
Total Revenue		 25 27 25 26 26 27 26 25 28 28
Net Interest Income / (Expense)		 24 25 24 24 24 24 24 23 25 26
Total Interest Income		 26 30 33 35 37 38 38 38 40 40
Loans and Leases Interest Income		 25 28 31 33 35 35 36 36 37 38
Investment Securities Interest Income		 1.42 1.61 1.76 1.82 1.87 1.90 1.87 1.77 1.92 1.83
Deposits and Money Market Investments Interest Income		 0.17 0.32 0.33 0.44 0.48 0.47 0.42 0.44 0.70 0.48
Total Interest Expense		 2.49 5.62 9.44 12 13 14 14 15 15 14
Deposits Interest Expense		 1.80 3.44 5.64 7.75 9.64 11 12 13 14 13
Long-Term Debt Interest Expense		 0.69 2.18 3.80 4.13 3.82 2.87 2.25 1.19 1.06 1.11
Total Non-Interest Income		 1.11 1.95 1.42 2.12 2.04 2.57 1.72 2.03 2.80 1.92
Other Service Charges		 0.36 -0.48 1.11 1.15 1.00 1.19 1.04 1.25 1.55 -2.21
Net Realized & Unrealized Capital Gains on Investments		 -0.30 0.59 0.23 0.89 0.37 1.37 0.61 0.59 1.12 0.41
Other Non-Interest Income		 1.05 1.84 0.08 0.08 0.68 0.01 0.07 0.19 0.14 3.71
Provision for Credit Losses		 1.52 1.75 0.11 0.69 0.56 1.81 0.64 0.93 1.08 1.30
Total Non-Interest Expense		 10 11 11 12 12 12 12 12 12 13
Salaries and Employee Benefits		 6.47 7.16 7.09 7.27 7.44 7.25 7.36 7.12 7.27 8.00
Net Occupancy & Equipment Expense		 2.03 2.12 2.26 2.13 2.11 2.35 2.39 2.47 2.45 2.48
Marketing Expense		 0.31 0.34 0.26 0.44 0.41 0.33 0.40 0.40 0.47 0.35
Property & Liability Insurance Claims		 0.23 0.27 0.35 0.62 0.40 0.35 0.34 0.32 0.25 0.20
Other Operating Expenses		 1.03 1.38 1.47 1.37 1.62 1.46 1.65 1.67 1.58 1.59
Income Tax Expense		 3.33 3.68 3.50 3.41 3.10 3.28 3.20 3.10 3.66 2.98
Basic Earnings per Share		 $0.94 $0.95 $0.98 $0.96 $0.98 $0.97 $0.95 $0.94 $1.09 $1.15
Weighted Average Basic Shares Outstanding		 10.52M 10.51M 10.54M 10.10M 10.13M 10.21M 10.13M 10.02M 9.98M 10.03M
Diluted Earnings per Share		 $0.93 $0.93 $0.96 $0.95 $0.97 $0.96 $0.93 $0.93 $1.07 $1.13
Weighted Average Diluted Shares Outstanding		 10.71M 10.71M 10.69M 10.20M 10.26M 10.34M 10.28M 10.15M 10.15M 10.20M
Weighted Average Basic & Diluted Shares Outstanding		 10.55M 10.59M 10.07M 10.14M 10.06M 10.14M 10.04M 9.98M 9.99M 10.06M
Cash Dividends to Common per Share		 $0.11 - $0.12 $0.12 $0.12 $0.12 $0.13 $0.13 $0.13 $0.13

Annual Cash Flow Statements for Unity Bancorp

This table details how cash moves in and out of Unity Bancorp's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -130 80 -14
Net Cash From Operating Activities		 43 47 48
Net Cash From Continuing Operating Activities		 43 47 48
Net Income / (Loss) Continuing Operations		 38 40 41
Consolidated Net Income / (Loss)		 38 40 41
Provision For Loan Losses		 4.16 3.12 3.95
Depreciation Expense		 2.76 2.38 2.58
Amortization Expense		 0.01 -0.26 -0.26
Non-Cash Adjustments to Reconcile Net Income		 -3.93 -2.47 -2.72
Changes in Operating Assets and Liabilities, net		 1.21 4.44 2.99
Net Cash From Investing Activities		 -541 -58 -93
Net Cash From Continuing Investing Activities		 -541 -58 -93
Purchase of Property, Leasehold Improvements and Equipment		 -1.48 -0.96 -0.69
Purchase of Investment Securities		 -577 -70 -108
Sale and/or Maturity of Investments		 -5.19 13 16
Net Cash From Financing Activities		 369 91 30
Net Cash From Continuing Financing Activities		 369 91 30
Net Change in Deposits		 29 137 176
Issuance of Debt		 343 39 1.07
Repayment of Debt		 0.00 -66 -137
Repurchase of Common Equity		 -0.04 -16 -6.21
Payment of Dividends		 -4.37 -4.72 -5.02
Other Financing Activities, Net		 1.36 1.28 1.48
Cash Interest Paid		 10 47 57
Cash Income Taxes Paid		 14 13 14

Quarterly Cash Flow Statements for Unity Bancorp

This table details how cash moves in and out of Unity Bancorp's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 54 -49 12 24 10 33 -12 14 -2.92 -14
Net Cash From Operating Activities		 -2.28 33 14 -5.08 13 25 16 -8.45 18 23
Net Cash From Continuing Operating Activities		 -2.28 33 14 -5.08 13 25 16 -8.45 18 23
Net Income / (Loss) Continuing Operations		 9.94 9.96 10 9.70 9.95 9.77 9.59 9.45 11 12
Consolidated Net Income / (Loss)		 9.94 9.96 10 9.70 9.95 9.77 9.59 9.45 11 12
Provision For Loan Losses		 1.52 1.63 0.11 0.78 0.53 1.70 0.64 0.91 1.03 1.37
Depreciation Expense		 0.70 0.64 -0.74 1.40 1.42 0.31 0.55 0.21 0.97 0.85
Amortization Expense		 -0.02 -0.01 0.04 -0.07 -0.17 -0.07 0.03 -0.16 -0.06 -0.07
Non-Cash Adjustments to Reconcile Net Income		 -1.25 0.85 -0.30 -1.22 -1.00 0.05 -0.26 -0.89 -1.80 0.22
Changes in Operating Assets and Liabilities, net		 -13 20 4.36 -16 2.60 13 5.21 -18 6.61 9.15
Net Cash From Investing Activities		 -156 -175 -20 -39 -2.38 3.80 -3.03 0.96 -47 -44
Net Cash From Continuing Investing Activities		 -156 -175 -20 -39 -2.38 3.80 -3.03 0.96 -47 -44
Purchase of Property, Leasehold Improvements and Equipment		 -0.14 -1.24 -0.20 -0.39 -0.21 -0.16 -0.08 -0.14 -0.14 -0.34
Purchase of Investment Securities		 -161 -160 -23 -40 -7.30 0.47 -6.87 -1.74 -50 -49
Sale and/or Maturity of Investments		 -2.64 -15 3.28 -2.18 5.07 6.99 3.92 2.84 3.09 5.67
Net Cash From Financing Activities		 213 93 18 69 -0.74 4.63 -25 22 26 7.16
Net Cash From Continuing Financing Activities		 213 93 18 69 -0.74 4.63 -25 22 26 7.16
Net Change in Deposits		 99 -9.07 36 26 35 39 37 50 35 54
Issuance of Debt		 - - 5.00 - 15 19 4.36 10 -10 -3.29
Repayment of Debt		 115 -240 -14 49 -49 -52 -61 -35 2.00 -43
Repurchase of Common Equity		 - -0.04 -8.22 -5.14 -0.92 -1.41 -4.08 -1.84 -0.28 -0.01
Payment of Dividends		 -1.12 -1.13 -1.22 -1.17 -1.17 -1.17 -1.26 -1.25 -1.25 -1.26
Other Financing Activities, Net		 0.40 0.23 0.53 0.24 0.36 0.16 0.72 0.05 0.16 0.56
Cash Interest Paid		 2.32 5.22 9.20 12 13 13 14 14 15 14
Cash Income Taxes Paid		 4.67 4.57 3.56 - 6.54 3.12 0.25 6.37 3.87 3.59

Annual Balance Sheets for Unity Bancorp

This table presents Unity Bancorp's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 2,445 2,579 2,654
Cash and Due from Banks		 20 21 20
Interest Bearing Deposits at Other Banks		 95 174 160
Trading Account Securities		 141 136 145
Loans and Leases, Net of Allowance		 2,081 2,146 2,234
Loans and Leases		 2,107 2,172 2,261
Allowance for Loan and Lease Losses		 25 26 27
Premises and Equipment, Net		 20 20 19
Goodwill		 - 1.52 1.52
Other Assets		 86 81 74
Total Liabilities & Shareholders' Equity		 2,445 2,579 2,654
Total Liabilities		 2,206 2,317 2,358
Non-Interest Bearing Deposits		 494 420 441
Interest Bearing Deposits		 1,293 1,505 1,660
Accrued Interest Payable		 0.69 1.92 1.70
Long-Term Debt		 393 367 231
Other Long-Term Liabilities		 24 24 26
Total Equity & Noncontrolling Interests		 239 261 296
Total Preferred & Common Equity		 239 261 296
Preferred Stock		 - 0.00 0.00
Total Common Equity		 239 261 296
Common Stock		 97 100 104
Retained Earnings		 157 191 227
Treasury Stock		 -12 -27 -34
Accumulated Other Comprehensive Income / (Loss)		 -3.26 -2.74 -2.11

Quarterly Balance Sheets for Unity Bancorp

This table presents Unity Bancorp's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 2,340 2,476 2,552 2,563 2,568 2,598 2,635
Cash and Due from Banks		 25 24 23 26 21 31 29
Interest Bearing Deposits at Other Banks		 138 103 129 135 162 166 166
Trading Account Securities		 137 138 137 136 139 145 144
Loans and Leases, Net of Allowance		 1,919 2,128 2,141 2,147 2,148 2,144 2,190
Loans and Leases		 1,942 2,154 2,167 2,173 2,174 2,171 2,217
Allowance for Loan and Lease Losses		 24 26 26 26 26 26 27
Premises and Equipment, Net		 19 20 20 20 19 19 19
Intangible Assets		 1.52 1.52 1.52 1.52 1.52 1.52 1.52
Other Assets		 100 2,189 101 97 77 90 86
Total Liabilities & Shareholders' Equity		 2,340 2,476 2,552 2,563 2,568 2,598 2,635
Total Liabilities		 2,109 2,235 2,308 2,311 2,301 2,324 2,351
Non-Interest Bearing Deposits		 498 450 439 425 396 422 424
Interest Bearing Deposits		 1,299 1,374 1,410 1,459 1,566 1,589 1,622
Accrued Interest Payable		 0.29 0.93 0.72 1.41 1.55 1.66 1.77
Long-Term Debt		 290 384 433 399 310 285 277
Other Long-Term Liabilities		 22 26 25 25 29 27 26
Total Equity & Noncontrolling Interests		 230 240 244 252 267 273 284
Total Preferred & Common Equity		 230 240 244 252 267 273 284
Total Common Equity		 230 240 244 252 267 273 284
Common Stock		 96 98 99 100 102 102 103
Retained Earnings		 148 165 174 183 199 208 217
Treasury Stock		 -12 -20 -25 -26 -31 -33 -34
Accumulated Other Comprehensive Income / (Loss)		 -2.80 -3.18 -3.62 -3.96 -2.85 -3.08 -2.20

Annual Metrics And Ratios for Unity Bancorp

This table displays calculated financial ratios and metrics derived from Unity Bancorp's official financial filings.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - -
Revenue Growth		 10.17% 5.08% 3.82%
EBITDA Growth		 8.49% 1.71% 2.90%
EBIT Growth		 6.84% 3.06% 2.63%
NOPAT Growth		 6.47% 3.25% 4.39%
Net Income Growth		 6.47% 3.25% 4.39%
EPS Growth		 4.66% 6.96% 5.73%
Operating Cash Flow Growth		 31.17% 9.94% 2.30%
Free Cash Flow Firm Growth		 -305.74% 113.04% 225.04%
Invested Capital Growth		 147.05% -0.69% -16.20%
Revenue Q/Q Growth		 3.35% -0.06% 1.72%
EBITDA Q/Q Growth		 1.16% -1.75% 3.63%
EBIT Q/Q Growth		 0.99% -1.10% 2.72%
NOPAT Q/Q Growth		 0.55% -0.47% 4.37%
Net Income Q/Q Growth		 0.55% -0.47% 4.37%
EPS Q/Q Growth		 0.00% 0.79% 4.37%
Operating Cash Flow Q/Q Growth		 94.73% -14.90% -3.77%
Free Cash Flow Firm Q/Q Growth		 -56.70% 148.50% 10.47%
Invested Capital Q/Q Growth		 21.51% -3.55% -6.23%
Profitability Metrics		 - - -
EBITDA Margin		 55.21% 53.44% 52.96%
EBIT Margin		 52.39% 51.38% 50.79%
Profit (Net Income) Margin		 39.18% 38.50% 38.71%
Tax Burden Percent		 74.79% 74.93% 76.21%
Interest Burden Percent		 100.00% 100.00% 100.00%
Effective Tax Rate		 25.21% 25.07% 23.79%
Return on Invested Capital (ROIC)		 8.66% 6.30% 7.18%
ROIC Less NNEP Spread (ROIC-NNEP)		 8.66% 6.30% 7.18%
Return on Net Nonoperating Assets (RNNOA)		 8.63% 9.56% 7.70%
Return on Equity (ROE)		 17.29% 15.86% 14.88%
Cash Return on Invested Capital (CROIC)		 -76.09% 6.99% 24.81%
Operating Return on Assets (OROA)		 2.30% 2.11% 2.08%
Return on Assets (ROA)		 1.72% 1.58% 1.58%
Return on Common Equity (ROCE)		 17.29% 15.86% 14.88%
Return on Equity Simple (ROE_SIMPLE)		 16.08% 15.19% 14.02%
Net Operating Profit after Tax (NOPAT)		 38 40 41
NOPAT Margin		 39.18% 38.50% 38.71%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 37.15% 38.15% 38.44%
Operating Expenses to Revenue		 43.26% 45.55% 45.52%
Earnings before Interest and Taxes (EBIT)		 51 53 54
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 54 55 57
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 1.15 1.12 1.47
Price to Tangible Book Value (P/TBV)		 1.16 1.12 1.48
Price to Revenue (P/Rev)		 2.81 2.83 4.05
Price to Earnings (P/E)		 7.18 7.35 10.47
Dividend Yield		 1.64% 2.07% 1.20%
Earnings Yield		 13.93% 13.61% 9.55%
Enterprise Value to Invested Capital (EV/IC)		 0.88 0.74 0.92
Enterprise Value to Revenue (EV/Rev)		 5.65 4.50 4.52
Enterprise Value to EBITDA (EV/EBITDA)		 10.23 8.41 8.54
Enterprise Value to EBIT (EV/EBIT)		 10.78 8.75 8.91
Enterprise Value to NOPAT (EV/NOPAT)		 14.42 11.68 11.69
Enterprise Value to Operating Cash Flow (EV/OCF)		 13.00 9.89 10.09
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 10.52 3.38
Leverage & Solvency		 - - -
Debt to Equity		 1.64 1.40 0.78
Long-Term Debt to Equity		 1.64 1.40 0.78
Financial Leverage		 1.00 1.52 1.07
Leverage Ratio		 10.07 10.03 9.39
Compound Leverage Factor		 10.07 10.03 9.39
Debt to Total Capital		 62.18% 58.38% 43.85%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 62.18% 58.38% 43.85%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 37.82% 41.62% 56.15%
Debt to EBITDA		 7.26 6.65 4.07
Net Debt to EBITDA		 5.14 3.12 0.89
Long-Term Debt to EBITDA		 7.26 6.65 4.07
Debt to NOPAT		 10.23 9.24 5.57
Net Debt to NOPAT		 7.24 4.33 1.22
Long-Term Debt to NOPAT		 10.23 9.24 5.57
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00%
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 -338 44 143
Operating Cash Flow to CapEx		 2,879.15% 4,911.94% 6,924.53%
Free Cash Flow to Firm to Interest Expense		 -31.80 0.91 2.51
Operating Cash Flow to Interest Expense		 4.01 0.97 0.84
Operating Cash Flow Less CapEx to Interest Expense		 3.87 0.95 0.83
Efficiency Ratios		 - - -
Asset Turnover		 0.04 0.04 0.04
Fixed Asset Turnover		 4.92 5.21 5.59
Capital & Investment Metrics		 - - -
Invested Capital		 633 628 526
Invested Capital Turnover		 0.22 0.16 0.19
Increase / (Decrease) in Invested Capital		 376 -4.36 -102
Enterprise Value (EV)		 555 464 484
Market Capitalization		 276 292 434
Book Value per Share		 $22.69 $25.99 $29.60
Tangible Book Value per Share		 $22.54 $25.84 $29.45
Total Capital		 633 628 526
Total Debt		 393 367 231
Total Long-Term Debt		 393 367 231
Net Debt		 279 172 50
Capital Expenditures (CapEx)		 1.48 0.96 0.69
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 393 367 231
Total Depreciation and Amortization (D&A)		 2.77 2.12 2.32
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $3.66 $3.89 $4.13
Adjusted Weighted Average Basic Shares Outstanding		 10.51M 10.21M 10.03M
Adjusted Diluted Earnings per Share		 $3.59 $3.84 $4.06
Adjusted Weighted Average Diluted Shares Outstanding		 10.71M 10.34M 10.20M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 10.59M 10.14M 10.06M
Normalized Net Operating Profit after Tax (NOPAT)		 38 40 41
Normalized NOPAT Margin		 39.18% 38.50% 38.71%
Pre Tax Income Margin		 52.39% 51.38% 50.79%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 4.84 1.09 0.95
NOPAT to Interest Expense		 3.62 0.82 0.73
EBIT Less CapEx to Interest Expense		 4.70 1.07 0.94
NOPAT Less CapEx to Interest Expense		 3.48 0.80 0.71
Payout Ratios		 - - -
Dividend Payout Ratio		 11.37% 11.89% 12.11%
Augmented Payout Ratio		 11.48% 51.41% 27.10%

Quarterly Metrics And Ratios for Unity Bancorp

This table displays calculated financial ratios and metrics derived from Unity Bancorp's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 10.28% 13.56% 14.38% 4.62% 2.93% -0.21% 0.92% -0.70% 8.14% 6.79%
EBITDA Growth		 5.11% 4.55% 5.82% 6.14% 2.52% -6.88% 2.16% -12.76% 8.22% 14.94%
EBIT Growth		 4.70% 3.83% 15.78% 3.97% -1.66% -4.31% -7.30% -4.25% 11.65% 11.03%
NOPAT Growth		 5.11% 2.15% 12.94% 2.63% 0.08% -1.87% -6.81% -2.54% 9.60% 17.76%
Net Income Growth		 5.11% 2.15% 12.94% 2.63% 0.08% -1.87% -6.81% -2.54% 9.60% 17.76%
EPS Growth		 3.33% 0.00% 12.94% 7.95% 4.30% 3.23% -3.13% -2.11% 10.31% 17.71%
Operating Cash Flow Growth		 -597.39% 168.00% -29.89% 34.63% 684.19% -24.79% 14.63% -66.32% 32.37% -7.56%
Free Cash Flow Firm Growth		 -250.24% -365.75% -431.46% -1,102.66% 50.49% 103.85% 116.57% 147.25% 183.47% 701.80%
Invested Capital Growth		 95.27% 147.05% 135.55% 71.01% 25.12% -0.69% -7.73% -17.55% -13.81% -16.20%
Revenue Q/Q Growth		 1.40% 7.28% -4.99% 1.22% -0.24% 4.00% -3.91% -0.40% 8.65% 2.70%
EBITDA Q/Q Growth		 2.52% 2.27% -8.25% 10.33% -0.98% -7.10% 0.66% -5.79% 22.84% -1.34%
EBIT Q/Q Growth		 5.23% 2.77% 1.14% -4.95% -0.47% 0.01% -2.02% -1.81% 16.05% -0.55%
NOPAT Q/Q Growth		 5.20% 0.14% 3.32% -5.71% 2.58% -1.81% -1.88% -1.38% 15.35% 5.50%
Net Income Q/Q Growth		 5.20% 0.14% 3.32% -5.71% 2.58% -1.81% -1.88% -1.38% 15.35% 5.50%
EPS Q/Q Growth		 5.68% 0.00% 3.23% -1.04% 2.11% -1.03% -3.13% 0.00% 15.05% 5.61%
Operating Cash Flow Q/Q Growth		 70.62% 1,550.37% -58.47% -136.95% 362.54% 86.71% -36.70% -153.60% 308.95% 30.40%
Free Cash Flow Firm Q/Q Growth		 -980.62% -50.21% 4.72% 22.24% 55.52% 111.70% 309.70% 121.70% -21.42% 12.34%
Invested Capital Q/Q Growth		 31.42% 21.51% -1.23% 8.42% -3.85% -3.55% -8.23% -3.12% 0.51% -6.23%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 56.14% 53.52% 51.68% 56.33% 55.91% 49.94% 52.32% 49.49% 55.95% 53.75%
EBIT Margin		 53.39% 51.15% 54.45% 51.13% 51.01% 49.05% 50.02% 49.31% 52.67% 51.00%
Profit (Net Income) Margin		 40.01% 37.35% 40.62% 37.84% 38.90% 36.73% 37.51% 37.14% 39.43% 40.50%
Tax Burden Percent		 74.94% 73.02% 74.59% 74.00% 76.26% 74.88% 74.98% 75.32% 74.86% 79.42%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 25.06% 26.98% 25.41% 26.01% 23.74% 25.12% 25.02% 24.68% 25.14% 20.58%
Return on Invested Capital (ROIC)		 9.66% 8.25% 9.25% 7.22% 6.85% 6.01% 6.46% 6.20% 6.85% 7.51%
ROIC Less NNEP Spread (ROIC-NNEP)		 9.66% 8.25% 9.25% 7.22% 6.85% 6.01% 6.46% 6.20% 6.85% 7.51%
Return on Net Nonoperating Assets (RNNOA)		 8.16% 8.23% 8.83% 9.46% 9.79% 9.12% 8.83% 8.61% 8.62% 8.06%
Return on Equity (ROE)		 17.82% 16.48% 18.08% 16.68% 16.64% 15.13% 15.29% 14.81% 15.47% 15.57%
Cash Return on Invested Capital (CROIC)		 -54.81% -76.09% -71.89% -44.98% -15.51% 6.99% 14.54% 25.51% 21.38% 24.81%
Operating Return on Assets (OROA)		 2.34% 2.24% 2.43% 2.24% 2.15% 2.01% 2.05% 1.98% 2.13% 2.09%
Return on Assets (ROA)		 1.75% 1.64% 1.81% 1.66% 1.64% 1.51% 1.54% 1.49% 1.60% 1.66%
Return on Common Equity (ROCE)		 17.82% 16.48% 18.08% 16.68% 16.64% 15.13% 15.29% 14.81% 15.47% 15.57%
Return on Equity Simple (ROE_SIMPLE)		 16.61% 0.00% 16.48% 16.34% 15.81% 0.00% 14.62% 14.18% 13.97% 0.00%
Net Operating Profit after Tax (NOPAT)		 9.94 9.96 10 9.70 9.95 9.77 9.59 9.45 11 12
NOPAT Margin		 40.01% 37.35% 40.62% 37.84% 38.90% 36.73% 37.51% 37.14% 39.43% 40.50%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 35.44% 36.10% 37.96% 38.41% 38.93% 37.34% 39.69% 39.25% 36.85% 38.12%
Operating Expenses to Revenue		 40.50% 42.29% 45.12% 46.16% 46.81% 44.14% 47.47% 47.06% 43.43% 44.42%
Earnings before Interest and Taxes (EBIT)		 13 14 14 13 13 13 13 13 15 14
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 14 14 13 14 14 13 13 13 15 15
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 1.09 1.15 0.97 0.94 0.91 1.12 1.03 1.07 1.19 1.47
Price to Tangible Book Value (P/TBV)		 1.10 1.16 0.97 0.95 0.92 1.12 1.04 1.08 1.19 1.48
Price to Revenue (P/Rev)		 2.65 2.81 2.29 2.24 2.24 2.83 2.67 2.85 3.21 4.05
Price to Earnings (P/E)		 6.58 7.18 5.86 5.76 5.79 7.35 7.07 7.58 8.51 10.47
Dividend Yield		 1.75% 1.64% 2.05% 2.02% 2.06% 2.07% 2.24% 2.12% 1.86% 1.20%
Earnings Yield		 15.20% 13.93% 17.06% 17.37% 17.28% 13.61% 14.15% 13.19% 11.76% 9.55%
Enterprise Value to Invested Capital (EV/IC)		 0.73 0.88 0.78 0.76 0.72 0.74 0.70 0.68 0.75 0.92
Enterprise Value to Revenue (EV/Rev)		 3.99 5.65 4.83 4.99 4.54 4.50 3.89 3.70 3.99 4.52
Enterprise Value to EBITDA (EV/EBITDA)		 7.07 10.23 8.92 9.18 8.35 8.41 7.26 7.12 7.68 8.54
Enterprise Value to EBIT (EV/EBIT)		 7.44 10.78 9.19 9.51 8.74 8.75 7.74 7.42 7.94 8.91
Enterprise Value to NOPAT (EV/NOPAT)		 9.90 14.42 12.35 12.83 11.74 11.68 10.32 9.84 10.59 11.69
Enterprise Value to Operating Cash Flow (EV/OCF)		 17.28 13.00 13.30 12.96 8.50 9.89 8.23 8.38 8.43 10.09
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 10.52 4.61 2.42 3.24 3.38
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 1.26 1.64 1.60 1.78 1.58 1.40 1.16 1.04 0.97 0.78
Long-Term Debt to Equity		 1.26 1.64 1.60 1.78 1.58 1.40 1.16 1.04 0.97 0.78
Financial Leverage		 0.85 1.00 0.95 1.31 1.43 1.52 1.37 1.39 1.26 1.07
Leverage Ratio		 10.15 10.07 9.98 10.04 10.16 10.03 9.94 9.95 9.69 9.39
Compound Leverage Factor		 10.15 10.07 9.98 10.04 10.16 10.03 9.94 9.95 9.69 9.39
Debt to Total Capital		 55.77% 62.18% 61.51% 63.97% 61.25% 58.38% 53.72% 51.05% 49.36% 43.85%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 55.77% 62.18% 61.51% 63.97% 61.25% 58.38% 53.72% 51.05% 49.36% 43.85%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 44.23% 37.82% 38.49% 36.03% 38.75% 41.62% 46.28% 48.95% 50.64% 56.15%
Debt to EBITDA		 5.42 7.26 7.00 7.77 7.11 6.65 5.59 5.32 5.06 4.07
Net Debt to EBITDA		 2.37 5.14 4.68 5.06 4.23 3.12 2.29 1.64 1.51 0.89
Long-Term Debt to EBITDA		 5.42 7.26 7.00 7.77 7.11 6.65 5.59 5.32 5.06 4.07
Debt to NOPAT		 7.59 10.23 9.70 10.86 10.00 9.24 7.94 7.36 6.98 5.57
Net Debt to NOPAT		 3.32 7.24 6.49 7.07 5.95 4.33 3.25 2.26 2.08 1.22
Long-Term Debt to NOPAT		 7.59 10.23 9.70 10.86 10.00 9.24 7.94 7.36 6.98 5.57
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -244 -367 -349 -272 -121 14 58 128 101 113
Operating Cash Flow to CapEx		 -1,596.50% 2,666.02% 7,051.28% -1,319.48% 6,232.24% 15,467.08% 20,207.69% -6,167.15% 12,700.72% 6,790.56%
Free Cash Flow to Firm to Interest Expense		 -98.16 -65.27 -36.98 -22.88 -8.98 1.03 4.11 8.81 6.86 8.22
Operating Cash Flow to Interest Expense		 -0.92 5.90 1.46 -0.43 0.99 1.81 1.12 -0.58 1.20 1.67
Operating Cash Flow Less CapEx to Interest Expense		 -0.98 5.67 1.44 -0.46 0.98 1.80 1.11 -0.59 1.19 1.65
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04
Fixed Asset Turnover		 4.85 4.92 5.14 5.23 5.31 5.21 5.28 5.29 5.45 5.59
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 521 633 625 677 651 628 576 559 561 526
Invested Capital Turnover		 0.24 0.22 0.23 0.19 0.18 0.16 0.17 0.17 0.17 0.19
Increase / (Decrease) in Invested Capital		 254 376 360 281 131 -4.36 -48 -119 -90 -102
Enterprise Value (EV)		 379 555 490 512 468 464 402 382 420 484
Market Capitalization		 252 276 232 230 231 292 276 294 338 434
Book Value per Share		 $21.91 $22.69 $22.71 $24.24 $24.90 $25.99 $26.31 $27.23 $28.48 $29.60
Tangible Book Value per Share		 $21.76 $22.54 $22.57 $24.09 $24.75 $25.84 $26.16 $27.08 $28.33 $29.45
Total Capital		 521 633 625 677 651 628 576 559 561 526
Total Debt		 290 393 384 433 399 367 310 285 277 231
Total Long-Term Debt		 290 393 384 433 399 367 310 285 277 231
Net Debt		 127 279 257 282 237 172 127 88 83 50
Capital Expenditures (CapEx)		 0.14 1.24 0.20 0.39 0.21 0.16 0.08 0.14 0.14 0.34
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 290 393 384 433 399 367 310 285 277 231
Total Depreciation and Amortization (D&A)		 0.68 0.63 -0.70 1.33 1.25 0.24 0.59 0.05 0.91 0.78
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.94 $0.95 $0.98 $0.96 $0.98 $0.97 $0.95 $0.94 $1.09 $1.15
Adjusted Weighted Average Basic Shares Outstanding		 10.52M 10.51M 10.54M 10.10M 10.13M 10.21M 10.13M 10.02M 9.98M 10.03M
Adjusted Diluted Earnings per Share		 $0.93 $0.93 $0.96 $0.95 $0.97 $0.96 $0.93 $0.93 $1.07 $1.13
Adjusted Weighted Average Diluted Shares Outstanding		 10.71M 10.71M 10.69M 10.20M 10.26M 10.34M 10.28M 10.15M 10.15M 10.20M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 10.55M 10.59M 10.07M 10.14M 10.06M 10.14M 10.04M 9.98M 9.99M 10.06M
Normalized Net Operating Profit after Tax (NOPAT)		 9.94 9.96 10 9.70 9.95 9.77 9.59 9.45 11 12
Normalized NOPAT Margin		 40.01% 37.35% 40.62% 37.84% 38.90% 36.73% 37.51% 37.14% 39.43% 40.50%
Pre Tax Income Margin		 53.39% 51.15% 54.45% 51.13% 51.01% 49.05% 50.02% 49.31% 52.67% 51.00%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 5.34 2.43 1.46 1.10 0.97 0.95 0.91 0.86 0.99 1.05
NOPAT to Interest Expense		 4.00 1.77 1.09 0.82 0.74 0.71 0.68 0.65 0.74 0.84
EBIT Less CapEx to Interest Expense		 5.28 2.21 1.44 1.07 0.95 0.94 0.90 0.85 0.98 1.03
NOPAT Less CapEx to Interest Expense		 3.94 1.55 1.07 0.78 0.72 0.70 0.67 0.64 0.73 0.81
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 11.12% 11.37% 11.56% 11.61% 11.73% 11.89% 12.22% 12.51% 12.41% 12.11%
Augmented Payout Ratio		 11.34% 11.48% 32.40% 45.22% 47.63% 51.41% 41.83% 33.80% 31.58% 27.10%

Financials Breakdown Chart

Key Financial Trends

Unity Bancorp (NASDAQ: UNTY) has demonstrated steady financial performance across the last several quarters and years, reflecting consistent growth in key areas such as net interest income and total revenue, alongside prudent management of expenses and credit losses. Below are the major highlights and trends derived from the recent and historical quarterly financial statements:

  • Consistent Growth in Net Interest Income: Net interest income has increased from approximately $23.7 million in Q3 2022 to $26.5 million in Q4 2024, showing a steady upward trend driven primarily by growth in loans and leases interest income.
  • Increasing Loan Portfolio: The loans and leases balance has grown from around $1.94 billion in Q3 2022 to over $2.21 billion by Q3 2024, indicating expanding lending operations.
  • Stable Net Income Growth: Net income attributable to common shareholders increased from about $9.9 million in Q3 2022 to $11.5 million in Q4 2024, translating into rising earnings per share (basic EPS grew from $0.94 to $1.15 over this timeframe).
  • Strong Operating Cash Flows: Cash flow from operating activities was healthy, with $23 million in Q4 2024 and generally positive cash flow trends seen over recent quarters, supporting business flexibility and growth.
  • Increasing Deposit Base: Total deposits have increased significantly, from approximately $1.81 billion (sum of interest and non-interest bearing deposits) in Q3 2022 to over $2 billion by Q3 2024, supporting loan growth and liquidity.
  • Dividend Stability: The company has maintained quarterly cash dividends per share consistently around $0.13 in 2024, reflecting a steady return of capital to shareholders.
  • Moderate Increase in Provision for Credit Losses: The provision for credit losses has seen variation but remains moderate relative to loan portfolio size, with quarters like Q4 2024 showing a provision of $1.3 million, indicating active risk management but a need for ongoing attention.
  • Fluctuating Non-Interest Income: Non-interest income shows some fluctuations, with occasional realized/unrealized investment gains and other service charges that sometimes are negative (e.g., Q4 2024 with a -$2.2 million impact), suggesting income diversification volatility.
  • Seasonal and Investment Activity Impacts on Cash Flow: Investment purchases and sales have significantly impacted cash flows, notably large investment security purchases (e.g., $48.8 million in Q4 2024), which although reducing cash, suggest strategic portfolio management activity.
  • Rising Interest Expense on Deposits: The cost of deposits (interest expense) has increased notably from about $1.8 million in Q3 2022 to over $12.6 million in Q4 2024, reflecting higher interest rate environment pressures, likely compressing net interest margins to a degree.
  • Long-Term Debt Levels and Interest Expense: Long-term debt remains high, near $277 million (Q3 2024), and associated interest expenses remain elevated, contributing over $1 million in interest cost per quarter in recent periods, potentially adding to financial leverage risks.
  • Net Cash Outflows in Investing Activities: Significant cash outflows in investing activities were noted, with $44.2 million used in Q4 2024, mostly related to securities purchases, which could pressure liquidity if not carefully managed.
  • Equity Repurchases Variability: The company has been repurchasing shares sporadically, with notable outflows like $4 million in Q1 2023 and $11,000 in Q4 2024; such buybacks need to be balanced against liquidity and capital adequacy concerns.

Summary: Unity Bancorp exhibits solid and consistent financial growth with expanding revenue, improving profitability, and a growing loan and deposit base. However, rising interest expenses and significant investing cash outflows highlight some risks in margin pressures and capital deployment. Investors should monitor credit loss provisions and debt levels as potential influences on future earnings. Overall, the financial statements suggest a bank expanding carefully in a moderately challenging interest rate environment while maintaining shareholder returns.

10/12/25 10:26 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Unity Bancorp's Financials

When does Unity Bancorp's fiscal year end?

According to the most recent income statement we have on file, Unity Bancorp's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Unity Bancorp's net income changed over the last 2 years?

Unity Bancorp's net income appears to be on an upward trend, with a most recent value of $41.45 million in 2024, rising from $38.46 million in 2022. The previous period was $39.71 million in 2023. View Unity Bancorp's forecast to see where analysts expect Unity Bancorp to go next.

How has Unity Bancorp's revenue changed over the last 2 years?

Over the last 2 years, Unity Bancorp's total revenue changed from $98.15 million in 2022 to $107.08 million in 2024, a change of 9.1%.

How much debt does Unity Bancorp have?

Unity Bancorp's total liabilities were at $2.36 billion at the end of 2024, a 1.8% increase from 2023, and a 6.9% increase since 2022.

How much cash does Unity Bancorp have?

In the past 2 years, Unity Bancorp's cash and equivalents has ranged from $19.70 million in 2022 to $20.67 million in 2023, and is currently $20.21 million as of their latest financial filing in 2024.

How has Unity Bancorp's book value per share changed over the last 2 years?

Over the last 2 years, Unity Bancorp's book value per share changed from 22.69 in 2022 to 29.60 in 2024, a change of 30.5%.


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This page (NASDAQ:UNTY) was last updated on 10/12/2025 by MarketBeat.com Staff
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