Unity Bancorp reports Q3 EPS 97c, consensus 89c

James Hughes, President and CEO, commented on the financial results: “Unity’s operating performance remains strong during this challenging economic environment. For the quarter, we achieved $9.9 million of net income, or $0.97 per diluted share. This represents 1.61% ROA and 15.84% ROE, which is among the highest in the community banking space. Although our 3.96% net interest margin has modestly declined over the past few quarters due to increased interest rates and a shift in funding mix, our interest rate risk management remains sound, enabling us to consistently deliver top-tier operating results.”