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what it is
Unity Bancorp is a New Jersey and Pennsylvania community bank that takes deposits and makes loans to local businesses and households.
how it gets paid
FY 2025 (Form 10-K): total interest income ~$173.6M; net interest income ~$117.0M; noninterest income ~$14.8M. (Banks: “revenue” in feeds is often NII + noninterest—~$131.8M for 2025 using those lines.)
why it's growing
Total interest income rose ~11.5% in 2025 vs. 2024 (~$173.6M vs. ~$155.7M per 10-K). Full-year net income rose 39.8% to $58.0M ($5.67 diluted EPS) vs. $41.5M ($4.06) in 2024.
what just happened
Latest quarter revenue hit $46M and EPS reached $1.52, with both up double digits vs. prior year.
At a glance
B+ balance sheet — decent shape, but not bulletproof
90/100 earnings predictability — you can trust these numbers
~9.2x trailing p/e on FY2025 $5.67 EPS — the market's not buying it — or you found a deal
1.3% dividend yield — cash in your pocket every quarter
$4.06 fy2024 eps (feed print)
xvary composite: 66/100 — average
What they do
Unity Bancorp is a New Jersey and Pennsylvania community bank that takes deposits and makes loans to local businesses and households.
This bank wins by being plain. It had 239 full-time and 6 part-time employees at Dec 31, 2025 (10-K), a B+ balance sheet grade on this page, and targets local businesses that want a lender who picks up the phone. Deposits are cheap funding—if relationships stay sticky, earning power can compound without national scale.
How they make money
$174M
FY 2025 total interest income · +11.5% vs. 2024 (~$173.6M vs. ~$155.7M) · Form 10-K filed Mar 4, 2026
total revenue
$174M
+11.5%
The products that matter
commercial property lending
Commercial Real Estate Loans
core profit engine
This is the loan book feeding the bank's $128M in net interest income. If credit stays clean, this is where the earnings power comes from. If it doesn't, this is where the thesis breaks first.
rate-sensitive
government-backed loans
SBA Lending
stated growth lane
Management points to SBA lending as a growth lever. Fair enough. But you still own a $501M bank. This can help the mix. It does not rewrite the business model.
growth watch
deposit gathering and treasury services
Personal & Business Banking
funding base
Deposits are the raw material here. They fund a bank that earned $15.5M in Q4 2025 ($58.0M for the full year), and the price of those deposits decides how much of that profit sticks.
cost of funds
Key numbers
~9.2x
trailing p/e
Rough check: price vs. FY2025 diluted EPS $5.67. FY2024 was $4.06; FY2025 net income was up 39.8% vs. 2024.
$174M
FY interest income
FY 2025 total interest income ~$173.6M, up ~11.5% from ~$155.7M in 2024 (10-K).
$231M
long-term debt
Debt equals 32% of capital, which is reasonable but still the number to watch if funding tightens.
1.3%
dividend yield
The payout is small, so most of your return case depends on earnings and valuation, not income.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 2 — safer than 80% of stocks
- price stability 65 / 100
- long-term debt $231M (32% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for UNTY right now.
source: institutional data · return history unavailable
What just happened
record fy
Q4 2025: $1.52 diluted EPS on $15.5M net income; FY 2025 $5.67 EPS on $58.0M net income.
Source: GlobeNewswire Jan 13, 2026. Quarterly “revenue” (NII + noninterest income) was ~$35.3M in Q4 2025 per the FY 2025 10-K tables—not the old ~$46M misread.
~$35M
q4 NII+nonint.
$1.52
q4 diluted eps
$5.67
fy2025 eps
the number that mattered
FY net income up 39.8% vs. 2024 with ROA ~2.17%—read alongside the disclosed nonaccrual commercial mortgage and Patriot-related items in the same release.
source: Unity Bancorp Q4/FY 2025 release (Jan 13, 2026); Form 10-K FY 2025 (SEC, Mar 4, 2026)
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What could go wrong
Your main risk is specific: a commercial real estate lender with FY 2025 ~$117M net interest income and ~$14.8M noninterest income (10-K), plus ~$173.6M total interest income as the headline interest-earnings line—not the same construct as a non-bank “revenue” total.
high
interest rate sensitivity
FY 2025 net interest income ~$117M vs. noninterest income ~$14.8M; total interest income ~$173.6M. Spreads and deposit costs move those lines.
If spreads compress, the cheap multiple can stay cheap for a reason.
high
commercial real estate concentration
Commercial real estate lending is core to the story. If property values weaken or borrowers struggle in Unity's footprint, asset quality is where the pain shows up first.
You do not need a dramatic funding event to hurt a regional bank. A few bad credits can do the job.
med
deposit competition
Personal and business banking funds the loan book. If customers demand higher rates to keep deposits parked here, profitability gets squeezed from the liability side.
Banks do not fully control the price of money, even when investors talk like they do.
low
m&a execution
Management has pointed to acquisitions as part of the growth path. Small-bank deals look neat on paper and import trouble fast when the credit book or deposit base disappoints.
Bad deals do not just slow growth. They bring in someone else's problems.
With ~$117M of net interest income (FY 2025), $231M of long-term debt on this feed, and a loan book tied to commercial real estate, most of the downside still runs through rates, credit quality, or deposit costs.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
net interest income holding near ~$117M (annual)
That is the core earnings engine. If it slips while noninterest income fails to grow off ~$15M, earnings lose their cushion fast.
calendar
q1 2026 earnings report
Scheduled for April 7, 2026. You are looking for commentary on loan growth, deposit pricing, and whether the Q4 beat was repeatable.
risk
commercial real estate credit quality
Any rise in problem loans matters more here than it would at a more diversified bank. CRE is not a side pocket. It is the main book.
trend
fed rate path and deposit competition
Lower rates can hurt asset yields. Aggressive deposit pricing can hurt funding costs. You care about both, because UNTY does not have many other profit levers.
Analyst rankings
earnings predictability
90 / 100
A 90/100 score means results have been consistent. In human-speak, analysts think this bank is easier to model than most small caps.
risk rank
2
Risk rank 2 means safer than roughly 80% of stocks in the system. That is reassuring. It does not erase rate or CRE exposure.
source: institutional data
Institutional activity
institutional ownership data for UNTY is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$52
current price
n/a
target midpoint · n/a from current
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