Quarterly ResultApr 14, 2026, 12:49 PM
Unity Bancorp Q1 Net Income Falls to $14.3M, EPS at $1.40
AI Summary
Unity Bancorp, Inc. reported a decrease in net income and diluted earnings per share for the quarter ended March 31, 2026. Net income fell to $14.3 million, or $1.40 per diluted share, from $15.5 million, or $1.52 per diluted share, in the prior quarter. The decline was primarily driven by a decrease in net interest income and noninterest income, partially offset by a lower provision for credit losses.
Key Highlights
- Net income was $14.3 million for Q1 2026, down from $15.5 million in Q4 2025.
- Diluted EPS was $1.40 for Q1 2026, compared to $1.52 in Q4 2025.
- Net interest income decreased by $0.7 million to $30.7 million.
- Net interest margin (NIM) decreased 7 basis points to 4.53%.
- Provision for credit losses on loans was $1.0 million, down from $2.2 million.