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Unity Bancorp Inc (UNTY) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

SEC Filings

UNTY Quarterly Reports

Unity Bancorp Inc

CIK: 920427 Ticker: UNTY


For Immediate Release
News Media & Financial Analyst Contact:
Unity Bancorp, Inc. (NSDQ: UNTY)
James A. Hughes, President and CEO
April 17, 2020
(908) 713-4306

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Quarterly Earnings of $5.4 Million
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Clinton, NJ, April 17, 2020 - 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 year’s 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.



The following information was filed by Unity Bancorp Inc (UNTY) on Monday, April 20, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Unity Bancorp Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets (Unaudited)
Consolidated Balance Sheets (Unaudited) (Parenthetical)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Changes In Shareholders' Equity (Unaudited)
Consolidated Statements Of Changes In Shareholders' Equity (Unaudited) (Parenthetical)
Consolidated Statements Of Comprehensive Income (Unaudited)
Consolidated Statements Of Income (Unaudited)
Allowance For Loan Losses And Reserve For Unfunded Loan Commitments
Allowance For Loan Losses And Reserve For Unfunded Loan Commitments (Tables)
Allowance For Loan Losses And Reserve For Unfunded Loan Commitments - Activity In Allowance For Loan Losses (Details)
Allowance For Loan Losses And Reserve For Unfunded Loan Commitments - Allowance For Credit Losses On Basis Of Impairment Method (Details)
Allowance For Loan Losses And Reserve For Unfunded Loan Commitments - Narrative (Details)
Derivative Financial Instruments And Hedging Activities
Derivative Financial Instruments And Hedging Activities (Details)
Derivative Financial Instruments And Hedging Activities (Tables)
Derivative Financial Instruments And Hedging Activities - Gain (Loss) In Aoci (Details)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Benefit Obligations Of Defined Benefit Plan (Details)
Employee Benefit Plans - Compensation Expense Related To Stock Options (Details)
Employee Benefit Plans - Narrative (Details)
Employee Benefit Plans - Net Periodic Pension Cost Of Defined Benefit Plan (Details)
Employee Benefit Plans - Schedule Of Options Exercised (Details)
Employee Benefit Plans - Stock Option Valuation Assumptions (Details)
Employee Benefit Plans - Stock Transactions - Restricted Stock Activity (Details)
Employee Benefit Plans - Stock Transactions - Restricted Stock Awards (Details)
Employee Benefit Plans - Stock Transactions - Stock Option Plans (Details)
Employee Benefit Plans - Stock Transactions - Stock Options Outstanding And Exercisable (Details)
Fair Value
Fair Value (Tables)
Fair Value - Assets And Liabilities Measured On Recurring Basis (Details)
Fair Value - Assets And Liabilities Subject To Fair Value Adjustments (Impairment) (Details)
Fair Value - Carrying Amount And Fair Values (Details)
Fair Value - Fair Value On Nonrecurring Basis - Narrative (Details)
Fair Value - Fair Value On Recurring Basis - Narrative (Details)
Income Taxes
Income Taxes (Details)
Leases
Leases - Cost (Details)
Leases - Maturity (Details)
Leases - Narrative (Details)
Leases Leases (Tables)
Litigation
Loans
Loans (Tables)
Loans - Aging Analysis Of Past Due And Nonaccrual Loans By Class (Details)
Loans - Average Recorded Investments And Interest Recognized (Details)
Loans - Classification Of Loans By Class (Details)
Loans - Credit Quality Indicators (Details)
Loans - Impaired Loans With Associated Allowance (Details)
Loans - Narrative (Details)
Loans - Troubled Debt Restructuring (Narrative) (Details)
Net Income Per Share
Net Income Per Share (Details)
Net Income Per Share (Tables)
New Accounting Pronouncements
Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss) (Details)
Other Comprehensive Income (Loss) (Tables)
Regulatory Capital
Regulatory Capital (Details)
Regulatory Capital (Tables)
Securities
Securities (Tables)
Securities - Amortized Cost To Fair Value (Details)
Securities - Realized Gains (Losses) For Equity Securities (Details)
Securities - Realized Gains And Losses (Details)
Securities - Securities By Contractual Maturity (Details)
Securities - Securities In Unrealized Loss Position (Details)
Significant Accounting Policies
Significant Accounting Policies (Policies)

Material Contracts, Statements, Certifications & more

Unity Bancorp Inc provided additional information to their SEC Filing as exhibits

Ticker: UNTY
CIK: 920427
Form Type: 10-Q Quarterly Report
Accession Number: 0000920427-20-000038
Submitted to the SEC: Tue May 05 2020 4:00:02 PM EST
Accepted by the SEC: Tue May 05 2020
Period: Tuesday, March 31, 2020
Industry: State Commercial Banks

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