Unity Bancorp (UNTY) Misses Q1 EPS by 1c

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 10/25/2026

1. RNG
2. DECK
3. WDC
4. BMY
5. BYD
6. SPOT
7. WCN
8. TSCO
9. BE
10. SPY

Go back to Unity Bancorp (UNTY) Misses Q1 EPS by 1c

Unity Bancorp Reports Quarterly Earnings of $5.4 Million

April 17, 2020 6:00 AM EDT

CLINTON, N.J., April 17, 2020 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, reported net income of $5.4 million, or $0.49 per diluted share, for the quarter ended March 31, 2020, a 6.5% decrease compared to the $5.7 million, or $0.52 per diluted share reported for the prior years first quarter, primarily due to an increase of $1.0 million in our provision for loan losses, necessitated by impacts on the loan portfolio caused by COVID-19.

James A. Hughes, President and CEO, commented on the financial results: The COVID-19 pandemic has created turmoil around the... More