Unity Bancorp, Inc. reported net income of $11.6 million, or $1.13 per diluted share, for the quarter ended March 31, 2025. This represents a 0.8% increase in net income compared to the previous quarter, demonstrating continued financial strength.
The company achieved a return on average assets (ROA) of 1.83% and a return on average equity (ROE) of 15.56% for the quarter. Commercial and Residential lending drove significant loan growth, increasing by $84.5 million, or 3.74%, from year-end 2024.
Customer deposits, excluding brokered deposits, increased by $90.7 million, or 4.82% quarter over quarter, highlighting the retail division's deposit gathering capabilities. Management noted that despite capital market volatility due to tariffs, the bank anticipates no adverse impacts on prospective loan demand, with some small business customers potentially benefiting.
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