Unity Bancorp (UNTY) Reports In-Line Q4 EPS

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Go back to Unity Bancorp (UNTY) Reports In-Line Q4 EPS

Unity Bancorp Reports Quarterly Earnings of $5.8 Million

January 23, 2019 6:00 AM EST

CLINTON, N.J., Jan. 23, 2019 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, reported net income of $5.8 million, or $0.53 per diluted share, for the quarter ended December 31, 2018, compared to $2.5 million, or $0.23 per diluted share, for the prior years quarter.  Approximately $912 thousand, or $0.08 per diluted share, of this increase is attributed to the lower effective tax rate due to the Tax Cuts and Jobs Act (the Tax Act.)

For the year ended December 31, 2018, Unity reported net income of $21.9 million, or $2.01 per diluted share, compared to $12.9 million, or $1.20... More