Unity Bancorp Q3 net income rises quarter-over-quarter on loan growth
UNTY•Unity Bancorp’s Q3 net income and EPS rose quarter-over-quarter, with EPS at $1.70. Results benefited from loan and deposit growth and a $2.5 million one-time federal tax credit purchase.
1. Quarterly results
Unity Bancorp reported that Q3 net income and EPS rose quarter-over-quarter, with EPS at $1.70. The company said loan and deposit growth, expanded net interest income and net interest margin, and improved asset quality contributed to results; a $2.5 million one-time federal tax credit purchase also benefited the quarter.
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