Unity Bancorp, Inc. (NASDAQ:UNTY) reported first-quarter results on Tuesday that came in ahead of analyst expectations, posting adjusted earnings per share of $1.40 versus the $1.37 consensus forecast. Revenue for the quarter reached $33.61 million, slightly above the $33.39 million estimate.
The bank’s shares were unchanged in after-hours trading following the release.
Net income for the period ended March 31, 2026 totaled $14.3 million, or $1.40 per diluted share, marking a 23.2% increase from $11.6 million in the same quarter a year earlier. The results translated into a return on average assets of 2.04% and a return on average equity of 16.38%.
“We are pleased to report another strong quarter for Unity Bancorp, Inc., highlighted by solid profitability and continued execution of our organic growth strategy,” said James A. Hughes, CEO.
The company delivered steady organic growth during the quarter, with gross loans rising by $56.9 million, or 2.2%, compared to year-end 2025. Customer deposits, excluding brokered deposits, increased by $58.7 million, or 2.9%, over the same period.
Unity Bancorp noted that loan demand across its operating footprint remains solid, supported by ongoing economic expansion in its core markets.
The bank also continues to invest in enhancing the customer experience, including the rollout of a new online banking platform aimed at improving digital capabilities and operational efficiency.
Unity Bancorp holds approximately $3.0 billion in assets and $2.4 billion in deposits. Its wholly owned subsidiary, Unity Bank, provides financial services through a branch network spanning eight counties in New Jersey and one county in Pennsylvania.