PARSIPPANY — Unity Bancorp, Inc. (NASDAQ: UNTY), the parent company of Unity Bank, has been honored once again in Bank Director magazine’s prestigious Top 25 Banks ranking. This year, Unity Bank is recognized as the 13th-best publicly traded bank in the nation and ranks 5th in Return on Assets (ROA) among banks with less than $5 billion in assets. This marks a significant improvement from its 2022 position of 21st overall, showcasing Unity Bank’s ongoing progress and strong performance.
Unity Bank’s total assets have grown to approximately $2.6 billion, with deposits reaching $2.0 billion. The bank’s inclusion in the Top 25 Banks list, published annually since 2017, is based on its performance over the prior year. The rankings assess various criteria, including balance growth, profitability, asset quality, long-term shareholder value, and safety. The investment bank Piper Sandler conducts the evaluation using S&P Global Market Intelligence data.
James A. Hughes, President & CEO of Unity Bank, expressed his pride in the achievement, stating, “We are pleased to be once again featured on this esteemed national list. Our commitment to growth through new branch openings, expanding service areas, and fostering employee development continues to drive our success. The support from our customers, employees, and directors is evident in these rankings.”
Unity Bank’s strong profitability is particularly noteworthy. The bank ranks 5th nationally in Return on Assets (ROA) within its asset category. This recognition underscores the bank’s robust financial performance and strategic focus on growth and stability. For further details on the Top 25 Banks list, readers are encouraged to refer to Bank Director magazine.
Unity Bank is located at 66 North Beverwyck Road, Lake Hiawatha.
Unity Bank operates a comprehensive network of branches across New Jersey and Pennsylvania, ensuring convenient access to banking services for its customers. In New Jersey, Unity Bank has locations in Clinton (which also serves as the corporate office), Flemington, Somerville, Edison, North Plainfield, Phillipsburg, Union, Whitehouse, Metuchen, Lake Hiawatha, South Plainfield, Lakewood, Colonia, New Brunswick, Fairfield, Somerset (Easton Avenue), Newton, and Plainfield (South Avenue). In Pennsylvania, the bank extends its services to Forks Township (Easton), Bethlehem, and Northampton communities. This extensive presence allows Unity Bank to offer a full range of personal and business banking services and financial advising across the region.
