Unity Bancorp Reports Strong Q2 Growth with Deposits Surge
Unity Bancorp, a Pennsylvania-based bank holding company, has reported impressive growth in the second quarter of 2025. Deposits have surged to $2.19 billion, up from $2.10 billion at the end of 2024 and $1.92 billion in 2023. The company's stock has also performed well, rising 19.9% since being rated a 'buy' in April 2025.
Unity Bancorp's balance sheet continues to strengthen, with revenue and profits increasing. Net interest income climbed to $28.7 million in the second quarter, up from $22.5 million in the previous year. Net profits also rose significantly, reaching $16.5 million compared to $9.5 million in the same period last year. The company's non-interest income has also seen a notable increase, reaching $5.8 million in the second quarter, up from $2 million in the previous year. Unity Bancorp's loans have also grown, reaching $2.35 billion in the second quarter of 2025, up from $2.23 billion at the end of 2024.
Despite the growth in deposits, only 19.5% were uninsured or uncollateralized. About 10.9% of the deposits were brokered deposits, indicating a diverse deposit base. Unity Bancorp's asset quality remains strong, with no significant issues reported.
Unity Bancorp's strong financial performance and growth in deposits, loans, and profits have positioned the company well. Its shares, with a price-to-earnings multiple of 9.2, are considered cheap relative to earnings. The company continues to expand its balance sheet while maintaining strong asset quality. As Unity Bancorp continues to grow, investors and analysts will watch for further developments and potential opportunities.
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