Unity Bancorp, Inc. (UNTY) Financial Statements (2024 and earlier)

Company Profile

Business Address 64 OLD HIGHWAY 22
CLINTON, NJ 08809
State of Incorp. NJ
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments114,793244,81824,70423,39520,33823,701
Cash and cash equivalents114,793244,81822,75021,10620,02823,701
Short-term investments   1,9542,289310 
Receivables   1,589,9091,394,5121,280,4221,139,556
Prepaid expense  9428087331,7551,633
Total current assets:114,793245,7601,615,4211,418,6401,302,5151,164,890
Noncurrent Assets
Operating lease, right-of-use asset 5,6005,2492,365 
Property, plant and equipment20,00219,91420,22621,31523,37123,470
Intangible assets, net (including goodwill), including:1,5161,5161,5161,5161,5161,516
Goodwill 1,5001,5001,5001,5001,5001,500
Other undisclosed intangible assets, net (including goodwill)161616161616
Deferred income tax assets12,34510,0409,183 
Total noncurrent assets:39,46336,71933,29022,83124,88724,986
Other undisclosed assets2,290,6921,751,234310,203277,471251,755265,620
TOTAL ASSETS:2,444,9482,033,7131,958,9141,718,9421,579,1571,455,496
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities2,205,7211,827,9841,785,0031,558,2331,440,6691,337,391
Total liabilities:2,205,7211,827,9841,785,0031,558,2331,440,6691,337,391
Equity
Equity, attributable to parent, including:239,227205,729173,911160,709138,488118,105
Treasury stock, value(11,675)(11,633)(7,442)   
Accumulated other comprehensive income (loss)(3,260)322(1,189)154(157)206
Retained earnings156,958123,03790,66970,44250,16131,117
Other undisclosed equity, attributable to parent97,20494,00391,87390,11388,48486,782
Total equity:239,227205,729173,911160,709138,488118,105
TOTAL LIABILITIES AND EQUITY:2,444,9482,033,7131,958,9141,718,9421,579,1571,455,496

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues101,74289,15084,67076,44767,74357,065
Net investment income100,34384,58378,32674,35766,02854,089
Cost of revenue (181)(7,000)(2,100)(2,050)(1,650)
Provision for loan, lease, and other losses (181)(7,000)(2,100)(2,050)
Financial services costs(1,650)
Other undisclosed gross profit      
Gross profit:101,74288,96977,67074,34765,69355,415
Operating expenses(8,424)(8,790)(8,104)(7,552)(8,208)(24,597)
Other operating income, net
(Noninterest Income, Other Operating Income)
2,8191,5611,4661,3461,2071,108
Operating income:96,13781,74071,03268,14158,69231,926
Nonoperating income (expense)63627258207623(20)
Bank owned life insurance income636689613588975469
Other nonoperating expense  (417)(555)(381)(352)(489)
Interest and debt expense(10,631)(7,741)(14,480)(18,055)(13,516)(9,453)
Other undisclosed loss from continuing operations before equity method investments, income taxes   (25,491)(19,978)(18,492)(20)
Income from continuing operations before equity method investments, income taxes:86,14274,27131,11930,31527,30722,433
Other undisclosed loss from continuing operations before income taxes(34,721)(26,141)    
Income from continuing operations before income taxes:51,42148,13031,11930,31527,30722,433
Income tax expense(12,964)(12,011)(7,475)(6,662)(5,388)(9,540)
Income from continuing operations:38,45736,11923,64423,65321,91912,893
Income before gain (loss) on sale of properties:36,11923,64423,65321,91912,893
Net income available to common stockholders, diluted:38,45736,11923,64423,65321,91912,893

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:38,45736,11923,64423,65321,91912,893
Other comprehensive income (loss)(3,582)1,511(1,343)311(328)46
Comprehensive income, net of tax, attributable to parent:34,87537,63022,30123,96421,59112,939

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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