UNTY earnings analysis
What we found in UNTY's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Unity Bancorp reported a net income of $14.3 million or $1.40 per diluted share for Q1 2026, marking a 23.3% increase in net income and 17.9% increase in EPS compared to Q1 2025. Total revenue decreased slightly to $33.6 million from the prior quarter, influenced by segment performance shifts, particularly in loan volumes and rising noninterest expenses.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Q1 2026 EPS Growth
- Diluted EPS increased to $1.40, up from $1.13 in Q1 2025, a 17.9% rise.
- 12.8% Increase in Net Interest Income
- Net interest income was $30.7 million, a 12.8% increase compared to $27.3 million last year.
- Return on Average Assets Improvement
- Return on average assets improved to 2.04%, up from 1.83% in Q1 2025.
- Substantial Noninterest Income Increase
- Noninterest income rose by 36.9% year-over-year, largely due to gains on SBA and mortgage loan sales.
- Total Assets Growth
- Total assets increased by 2.0% to $3.0 billion from year-end 2025.
- Boost in Shareholders' Equity
- Total shareholders' equity rose $12.5 million to $353.7 million compared to year-end 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Rising Nonaccrual Loans
- Nonaccrual loans increased to $30.6 million from $29.8 million at year-end 2025.
- Increased Noninterest Expenses
- Noninterest expenses rose by 11.6% compared to Q1 2025, driven by higher compensation and loan-related costs.
- Decrease in Securities Portfolio
- AFS debt securities decreased by 10.7% to $63.3 million from $70.9 million at year-end 2025.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.4
- Segment
- Net Interest Income: $30.7M
- Segment
- Noninterest Income: $3.6M
What they said about what is next.
No explicit guidance provided. Outlook deferred to earnings press release / call.
The filing reads about the same as the one before it.
What came before.
- 10-K · March 4, 2026
- Unity Bancorp’s 10-K emphasizes a traditional community-banking strategy focused on net interest income, local lending and deposit-based funding (the Bank operates "twenty-two branches" and serves the NYC metro area).…
- 10-Q · August 6, 2025
- Unity Bancorp reported a strong quarter driven by higher net interest income and loan growth: GAAP net income was $16.5 million ($1.61 diluted) for Q2 2025 versus $9.5 million ($0.93) in Q2 2024, with net interest…
- 10-K · March 7, 2025
- Unity Bancorp showcased robust financial performance in 2024, with a leading revenue increase and improved EPS, reflecting strong execution of its business model in a competitive banking environment. The company's focus…
- 10-Q · November 12, 2024
- Unity Bancorp reported quarterly net income of $10.9 million, or $1.07 diluted EPS, for the quarter ended September 30, 2024, up from $9.9 million and $0.97 diluted EPS a year earlier. Net interest income rose 5.6% to…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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