# EDGAR Filing Document

**Accession Number:** 0000920427
**File Stem:** 0000920427-25-000071
**Filing Date:** 2025-10
**Character Count:** 60529
**Document Hash:** 344e7cc2b7c60a21b128a33623117030
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000920427-25-000071.hdr.sgml**: 20251014

**ACCESSION NUMBER**: 0000920427-25-000071

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20251014

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251014

**DATE AS OF CHANGE**: 20251014

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** UNITY BANCORP INC /NJ/
- **CENTRAL INDEX KEY:** 0000920427
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 223282551
- **STATE OF INCORPORATION:** NJ
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-12431
- **FILM NUMBER:** 251389826

**BUSINESS ADDRESS:**
- **STREET 1:** 64 OLD HIGHWAY 22
- **CITY:** CLINTON
- **STATE:** NJ
- **ZIP:** 08809
- **BUSINESS PHONE:** 8006182265

**MAIL ADDRESS:**
- **STREET 1:** 64 OLD HIGHWAY 22
- **CITY:** CLINTON
- **STATE:** NJ
- **ZIP:** 08809

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** UNITY BANCORP INC /DE/
- **DATE OF NAME CHANGE:** 19940316

?xml version='1.0' encoding='ASCII'? UNITY BANCORP, INC._October 14, 2025

------

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

## FORM 8-K
CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

**October 14, 2025**

Date of Report (Date of earliest event reported)

![Graphic](unty-20251014x8k003.jpg)

**UNITY BANCORP, INC.**

(Exact Name of Registrant as Specified in its Charter)

**New Jersey**

(State or Other Jurisdiction of Incorporation)

---

| | |
|:---|:---|
| **1-12431** | **22-3282551** |
| (Commission File Number) | (IRS Employer Identification No.) |

---

**64 Old Highway 22**

**Clinton, NJ 08809**

(Address of Principal Executive Office)

**(908) 730-7630**

(Registrant's Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common stock | UNTY | NASDAQ |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

#### Item 2.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Results of Operation and Financial Condition
The Registrant issued a press release on October 14, 2025 announcing results for the three months and nine months ended September 30, 2025, the full text of which is incorporated by reference to this Item.

#### Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits

[Exhibit 99.1](unty-20251014xex99d1.htm) [Press](unty-20251014xex99d1.htm) [release issued by the Registrant on October 14, 2025.](unty-20251014xex99d1.htm)

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| October 13, 2023<br>|  |  |
|  | **UNITY BANCORP, INC.** | **UNITY BANCORP, INC.** |
|  | **(Registrant)** | **(Registrant)** |
| Date: October 14, 2025 |  |  |
|  | By: | /s/ George Boyan |
|  |  | George Boyan |
|  |  | Executive Vice President and Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

![Graphic](unty-20251014xex99d1001.jpg)

------

We are proud to expand our footprint with the opening of our 22nd branch in Madison, NJ, reinforcing our commitment to serving local communities with personalized banking solutions. This new location reflects our continued growth and dedication to deepening relationships across New Jersey. As the Federal Reserve's recent rate cut aims to stimulate economic activity amid ongoing uncertainty, Unity is well-positioned to strengthen customer relationships and expand lending initiatives, driving continued momentum and long-term value for our shareholders."

------

Clinton, NJ -- Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, reported net income of $14.4 million, or $1.41 per diluted share, for the quarter ended September 30, 2025, compared to net income of $16.5 million, or $1.61 per diluted share for the quarter ended June 30, 2025. For the nine months ended September 30, 2025, Unity Bancorp reported net income of $42.5 million, or $4.15 per diluted share, compared to net income of $29.9 million, or $2.94 per diluted share, for the nine months ended September 30, 2024.

*Third Quarter Earnings Highlights*

● Net interest income, the primary driver of earnings, was $29.9 million for the quarter ended September 30, 2025, an increase of $1.3 million, as compared to $28.6 million for the quarter ended June 30, 202 5. Net interest margin ("NIM") increased 5 basis points to 4.54% for the quarter ended September 30, 2025, compared to the quarter ended June 30, 2025. The increase was due to the yield on interest-earning assets increasing.

● The provision for credit losses on loans was $1.4 million for the quarter ended September 30, 2025, compared to $1.7 million for the quarter ended June 30, 2025. The provision in the current quarter was primarily driven by loan growth.

● During the quarter ended September 30, 2025, Unity converted its debt security issued by Patriot National Bancorp, Inc. into common stock. As of September 30, 2025, Unity held approximately 2.673 million shares of restricted Patriot common stock, valued at $0.75 per share. These shares remain restricted pending registration by Patriot (or such other time that an exemption from registration is available permitting the removal of such restrictions) and eligibility for trading on a national securities exchange. In connection with the conversion, Unity released $0.8 million from the reserve for credit losses on securities and recognized a one-time unrealized gain of $0.2 million through net securities gains. Additionally, during the quarter ended June 30, 2025, Unity realized a gain of $3.5 million and released a $2.0 million reserve for credit losses on securities associated with the Patriot National Bancorp, Inc. positions.

● Noninterest income was $3.0 million for the quarter ended September 30, 2025, compared to $5.8 million for the quarter ended June 30, 2025. The $2.8 million decrease was primarily due to the Q2 one-time realized gain of $3.5 million discussed above. The decrease was partially offset by increases in core operating noninterest income components, most notably gain on sale of mortgages, gain on sale of SBA loans and service and loan fee income.

● Noninterest expense was $13.4 million for the quarter ended September 30, 2025, compared to $13.0 million for the quarter ended June 30, 2025. Increases were predominately recognized in the compensation and benefits and the processing and communication categories. The increase was partially offset by decreases in the loan related expense category.

● The effective tax rate was 23.7% for the quarter ended September 30, 2025, compared to 23.4% for the quarter ended June 30, 2025.

*Balance Sheet Highlights*

● Total gross loans increased $207.9 million, or 9.2%, from December 31, 2024, primarily due to increases in the commercial and residential mortgage loan categories. This was partially offset by decreases in the residential construction loan category. Furthermore, gross loans increase $85.9 million, or 3.6% from June 30, 2025.

● As of September 30, 2025, the allowance for credit losses as a percentage of gross loans was 1.23%.

● Total deposits increased $167.2 million, or 8.0%, from December 31, 2024. Further, total deposits increased $80.1 million, or 3.7% from June 30, 2025. As of September 30, 2025, 21.6% of total deposits were uninsured or uncollateralized. The Company's deposit composition as of September 30, 2025, consisted of 19.7% in noninterest bearing demand deposits, 17.4% in interest-bearing demand deposits, 23.7% in savings deposits and 39.2% in time deposits.

● As of September 30, 2025, investments comprised 4.6% of total assets. Available for sale debt securities ("AFS") were $82.1 million or 2.9% of total assets. Held to maturity ("HTM") debt securities were $36.5 million or 1.3% of total assets. As of September 30, 2025, pre-tax net unrealized losses on AFS and HTM were $1.9 million and $6.5 million, respectively. These pre-tax unrealized losses represent approximately 2.4% of the Company's Tier 1 capital. Equity securities were $12.7 million or 0.4% of total assets as of September 30, 2025.

● Borrowed funds increased $11.2 million from December 31, 2024. Borrowed funds were entirely comprised of borrowings from the FHLB.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

● Shareholders' equity was $334.0 million as of September 30, 2025, compared to $295.6 million as of December 31, 2024. The $38.4 million increase was primarily driven by 2025 earnings, partially offset by dividend payments and share repurchase activity. Unity Bancorp did not repurchase stock during the quarter ended September 30, 2025.

● Book value per common share was $33.26 as of September 30, 2025, compared to $29.48 as of December 31, 2024. This increase primarily reflects retained earnings offset partially by dividends and share repurchases.

● Below is a summary of Unity Bancorp's regulatory capital ratios:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o The Leverage Ratio increased 49 basis points to 12.71% at September 30, 2025, compared to 12.22% at December 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o The Common Equity Tier 1 Capital Ratio increased 55 basis points to 14.45% at September 30, 2025, compared to 13.90% at December 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o The Tier 1 Capital Ratio increased 51 basis points to 14.88% at September 30, 2025, compared to 14.37% at December 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o The Total Capital Ratio increased 51 basis points, to 16.13% at September 30, 2025, compared to 15.62% at December 31, 2024.

● At September 30, 2025, the Company held $203.5 million of cash and cash equivalents. The Company also maintained approximately $548.2 million of funding available from various sources, including the FHLB, FRB Discount Window and other lines of credit. Total available funding plus cash on hand represented 153.5% of uninsured or uncollateralized deposits.

● As of September 30, 2025, nonaccrual assets were $20.5 million, compared to $15.8 million as of June 30, 2025. The ratio of nonaccrual loans to total loans was 0.83% as of September 30, 2025. The ratio of nonaccrual assets to total assets was 0.71% as of September 30, 2025. The increase primarily reflects increased nonaccrual residential mortgages that are well secured by 1 to 4 family residential properties.

*Other Highlights*

---

| | |
|:---|:---|
| ❖ | In September 2025, Unity Bank celebrated the opening of a new branch in Madison, New Jersey. This branch increased the total number of branches to 22, and the new location strengthens Unity's Morris County presence. |

---

---

| | |
|:---|:---|
| ❖ | In August 2025, Unity Bancorp Inc announced a 7% increase in its third quarter cash dividend. This is in addition to the 8% increase announced in the first quarter. The third quarter cash dividend represented $0.15 per common share. |

---

---

| | |
|:---|:---|
| ❖ | In August 2025, Unity Bancorp Inc was ranked 14<sup>th</sup> among the top 25 publicly traded banks in the United States, according to Bank Director's 2025 *RankingBanking* report. Unity's consistent profitability, capital adequacy and asset quality metrics contributed to the strong placement in the national ranking. |

---

*Unity Bancorp, Inc. is a financial services organization headquartered in Clinton, New Jersey, with approximately $2.9 billion in assets and $2.3 billion in deposits. Unity Bank, the Company's wholly owned subsidiary, provides financial services to retail, corporate and small business customers through its robust branch network located in Bergen, Hunterdon, Middlesex, Morris, Ocean, Somerset, Union and Warren Counties in New Jersey and Northampton County in Pennsylvania. For additional information about Unity, visit our website at* www.unitybank.com *, or call 800-618-BANK.*

*This news release contains certain forward-looking statements, either expressed or implied, which are provided to assist the reader in understanding anticipated future financial performance. These statements may be identified by use of the words "believe", "expect", "intend", "anticipate", "estimate", "project" or similar expressions. These statements involve certain risks, uncertainties, estimates and assumptions made by management, which are subject to factors beyond the Company's control that could impede its ability to achieve these goals. These factors include those items included in our Annual Report on Form 10-K under the heading "Item IA-Risk Factors" as amended or supplemented by our subsequent filings with the SEC, as well as general economic conditions, trends in interest rates, the ability of our borrowers to repay their loans, our ability to manage and reduce the level of our nonperforming assets, results of regulatory exams, the impact of any health crisis or national disasters on the Bank, its employees and customers, and the impact of uncertain or changing political conditions or any current or future federal government shutdown and uncertainty regarding the federal government's debt limit or changes in fiscal, monetary, trade or regulatory policy, among other factors.*

------

**UNITY BANCORP, INC.**

**SUMMARY FINANCIAL HIGHLIGHTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | | **September 30, 2025 vs.** | **September 30, 2025 vs.** |
| | | | | **June 30, 2025** | **September 30, 2024** |
| <br>*(In thousands, except percentages and per share amounts)* | <br>**September 30, 2025** | <br>**June 30, 2025** | <br>**September 30, 2024** | **%** | **%** |
| **BALANCE SHEET DATA** |  |  |  |  |  |
| Total assets | $**2876365** | $2928523 | $2635319 | (1.8)% | 9.1% |
| Total deposits | **2267484** | 2187366 | 2046137 | 3.7 | 10.8 |
| Total gross loans | **2468527** | 2382594 | 2217393 | 3.6 | 11.3 |
| Total securities | **131252** | 139348 | 143712 | (5.8) | (8.7) |
| Total shareholders' equity | **334023** | 319840 | 284257 | 4.4 | 17.5 |
| Allowance for credit losses | **30245** | 29012 | 27002 | 4.2 | 12.0 |
| **FINANCIAL DATA - QUARTER TO DATE** |  |  |  |  |  |
| Income before provision for income taxes | $**18866** | $21528 | $14567 | (12.4) | 29.5 |
| Provision for income taxes | **4476** | 5037 | 3662 | (11.1) | 22.2 |
| Net income | $**14390** | $16491 | $10905 | (12.7) | 32.0 |
| Net income per common share - Basic  | $**1.43** | $1.64 | $1.09 | (12.8) | 31.2 |
| Net income per common share - Diluted  | **1.41** | 1.61 | 1.07 | (12.4) | 31.8 |
| **PERFORMANCE RATIOS - QUARTER TO DATE (ANNUALIZED)** |  |  |  |  |  |
| &nbsp;&nbsp;Return on average assets | **2.11%** | 2.51% | 1.76% |  |  |
| &nbsp;&nbsp;Return on average equity  | **17.41** | 21.15 | 15.55 |  |  |
| &nbsp;&nbsp;Efficiency ratio\*\* | **41.47** | 42.31 | 44.23 |  |  |
| &nbsp;&nbsp;Cost of funds | **2.46** | 2.46 | 2.71 |  |  |
| &nbsp;&nbsp;Net interest margin | **4.54** | 4.49 | 4.16 |  |  |
| &nbsp;&nbsp;Noninterest expense to average assets | **1.97** | 1.98 | 1.94 |  |  |
| **FINANCIAL DATA - YEAR TO DATE** |  |  |  |  |  |
| Income before provision for income taxes | $**55823** |  | $39901 |  | 39.9 |
| Provision for income taxes | **13339** |  | 9956 |  | 34.0 |
| Net income | $**42484** |  | $29945 |  | 41.9 |
| Net income per common share - Basic  | $**4.23** |  | $2.98 |  | 41.9 |
| Net income per common share - Diluted  | **4.15** |  | 2.94 |  | 41.2 |
| **PERFORMANCE RATIOS - YEAR TO DATE (ANNUALIZED)** |  |  |  |  |  |
| &nbsp;&nbsp;Return on average assets | **2.15%** |  | 1.64% |  |  |
| &nbsp;&nbsp;Return on average equity  | **18.07** |  | 14.72 |  |  |
| &nbsp;&nbsp;Efficiency ratio\*\* | **42.20** |  | 46.25 |  |  |
| &nbsp;&nbsp;Cost of funds | **2.46** |  | 2.70 |  |  |
| &nbsp;&nbsp;Net interest margin | **4.50** |  | 4.09 |  |  |
| &nbsp;&nbsp;Noninterest expense to average assets | **1.98** |  | 1.97 |  |  |
| **SHARE INFORMATION** |  |  |  |  |  |
| &nbsp;&nbsp;Market price per share | $**48.87** | $47.08 | $34.06 | 3.8 | 43.5 |
| &nbsp;&nbsp;Dividends paid (QTD) | **0.15** | 0.14 | 0.13 | 7.1 | 15.4 |
| &nbsp;&nbsp;Book value per common share | **33.26** | 31.88 | 28.48 | 4.3 | 16.8 |
| &nbsp;&nbsp;Average diluted shares outstanding (QTD) | **10233** | 10212 | 10148 | 0.2 | 0.8 |
| **UNITY BANCORP CAPITAL RATIOS** |  |  |  |  |  |
| &nbsp;&nbsp;Total equity to total assets | **11.61%** | 10.92% | 10.79% | 6.3 | 7.6 |
| &nbsp;&nbsp;Leverage ratio | **12.71** | 12.50 | 11.94 | 1.7 | 6.4 |
| &nbsp;&nbsp;Common Equity Tier 1 Capital Ratio | **14.45** | 13.96 | 13.50 | 3.5 | 7.0 |
| &nbsp;&nbsp;Risk-based Tier 1 Capital Ratio | **14.88** | 14.39 | 13.98 | 3.4 | 6.4 |
| &nbsp;&nbsp;Risk-based Total Capital Ratio | **16.13** | 15.65 | 15.23 | 3.1 | 5.9 |
| **CREDIT QUALITY AND RATIOS** |  |  |  |  |  |
| &nbsp;&nbsp;Nonaccrual assets | $**20514** | $15840 | $15879 | 29.5 | 29.2 |
| &nbsp;&nbsp;QTD annualized net (chargeoffs) to QTD average loans | **(0.03)%** | (0.06)% | (0.02)% |  |  |
| &nbsp;&nbsp;Allowance for credit losses to total loans | **1.23** | 1.22 | 1.22 |  |  |
| &nbsp;&nbsp;Nonaccrual loans to total loans | **0.83** | 0.66 | 0.59 |  |  |
| &nbsp;&nbsp;Nonaccrual assets to total assets | **0.71** | 0.54 | 0.60 |  |  |
| \*\* The efficiency ratio is a non-GAAP measure, calculated based on the noninterest expense divided by the sum of net interest income plus non interest income, excluding net gains and losses on securities. | \*\* The efficiency ratio is a non-GAAP measure, calculated based on the noninterest expense divided by the sum of net interest income plus non interest income, excluding net gains and losses on securities. | \*\* The efficiency ratio is a non-GAAP measure, calculated based on the noninterest expense divided by the sum of net interest income plus non interest income, excluding net gains and losses on securities. | \*\* The efficiency ratio is a non-GAAP measure, calculated based on the noninterest expense divided by the sum of net interest income plus non interest income, excluding net gains and losses on securities. | \*\* The efficiency ratio is a non-GAAP measure, calculated based on the noninterest expense divided by the sum of net interest income plus non interest income, excluding net gains and losses on securities. | \*\* The efficiency ratio is a non-GAAP measure, calculated based on the noninterest expense divided by the sum of net interest income plus non interest income, excluding net gains and losses on securities. |

---

------

**UNITY BANCORP, INC.**

**CONSOLIDATED BALANCE SHEETS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | | **September 30, 2025 vs.** | **September 30, 2025 vs.** |
| | | | | **December 31, 2024** | **September 30, 2024** |
| <br>*(In thousands, except percentages)* | <br>**September 30, 2025** | <br>**December 31, 2024** | <br>**September 30, 2024** | **%** | **%** |
| **ASSETS** |  |  |  |  |  |
| Cash and due from banks | $**20860** | $20206 | $28892 | 3.2% | (27.8)% |
| Interest-bearing deposits | **182626** | 160232 | 165609 | 14.0 | 10.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | **203486** | 180438 | 194501 | 12.8 | 4.6 |
| Securities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt securities available for sale, at market value, net of valuation allowance | **82063** | 93884 | 97651 | (12.6) | (16.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt securities held to maturity, at book value | **36505** | 41294 | 36225 | (11.6) | 0.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity securities, at market value | **12684** | 9850 | 9836 | 28.8 | 29.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total securities | **131252** | 145028 | 143712 | (9.5) | (8.7) |
| Loans: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans held for sale | **15421** | 12163 | 14621 | 26.8 | 5.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;SBA loans held for investment | **37537** | 38309 | 39497 | (2.0) | (5.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial loans | **1582608** | 1411629 | 1368763 | 12.1 | 15.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage loans | **676862** | 630927 | 623529 | 7.3 | 8.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer loans  | **82857** | 76711 | 72291 | 8.0 | 14.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential construction loans | **73242** | 90918 | 98692 | (19.4) | (25.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans | **2468527** | 2260657 | 2217393 | 9.2 | 11.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allowance for credit losses | **(30245)** | (26788) | (27002) | 12.9 | 12.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loans  | **2438282** | 2233869 | 2190391 | 9.2 | 11.3 |
| Premises and equipment, net | **18439** | 18778 | 18857 | (1.8) | (2.2) |
| Bank owned life insurance ("BOLI") | **26319** | 25773 | 25619 | 2.1 | 2.7 |
| Deferred tax assets | **15022** | 14106 | 14517 | 6.5 | 3.5 |
| Federal Home Loan Bank ("FHLB") stock | **13218** | 12507 | 14584 | 5.7 | (9.4) |
| Accrued interest receivable | **13288** | 12691 | 12913 | 4.7 | 2.9 |
| Goodwill | **1516** | 1516 | 1516 | - | - |
| Prepaid expenses and other assets | **15543** | 9311 | 18709 | 66.9 | (16.9) |
| Total assets | $**2876365** | $2654017 | $2635319 | 8.4% | 9.1% |
| **LIABILITIES AND SHAREHOLDERS' EQUITY** | **LIABILITIES AND SHAREHOLDERS' EQUITY** |  |  |  |  |
| Liabilities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposits: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing demand | $**447510** | $440803 | $423968 | 1.5% | 5.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing demand  | **362449** | 321780 | 325264 | 12.6 | 11.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Savings  | **535560** | 491175 | 524607 | 9.0 | 2.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brokered deposits | **235122** | 217931 | 214679 | 7.9 | 9.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time deposits | **686843** | 628624 | 557619 | 9.3 | 23.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | **2267484** | 2100313 | 2046137 | 8.0 | 10.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Borrowed funds | **231707** | 220504 | 266798 | 5.1 | (13.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;Subordinated debentures | **10310** | 10310 | 10310 | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued interest payable | **1790** | 1702 | 1765 | 5.2 | 1.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | **31051** | 25605 | 26052 | 21.3 | 19.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | **2542342** | 2358434 | 2351062 | 7.8 | 8.1 |
| Shareholders' equity: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock | **105320** | 103936 | 102886 | 1.3 | 2.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | **265491** | 227331 | 217141 | 16.8 | 22.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Treasury stock, at cost | **(35515)** | (33577) | (33566) | 5.8 | 5.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | **(1273)** | (2107) | (2204) | (39.6) | (42.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity | **334023** | 295583 | 284257 | 13.0 | 17.5 |
| Total liabilities and shareholders' equity | $**2876365** | $2654017 | $2635319 | 8.4% | 9.1% |
| Shares issued | **11681** | 11616 | 11570 |  |  |
| Shares outstanding | **10041** | 10026 | 9980 |  |  |
| Treasury shares | **1640** | 1590 | 1590 |  |  |
| \*NM=Not meaningful |  |  |  |  |  |

---

------

**UNITY BANCORP, INC.**

**QTD CONSOLIDATED STATEMENTS OF INCOME**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| |  |  |  | **September 30, 2025 vs.** | **September 30, 2025 vs.** | **September 30, 2025 vs.** | **September 30, 2025 vs.** |
| | **For the three months ended** | **For the three months ended** | **For the three months ended** | **June 30, 2025** | **June 30, 2025** | **September 30, 2024** | **September 30, 2024** |
| <br>*(In thousands, except percentages and per share amounts)* | **September 30, 2025** | **June 30, 2025** | **September 30, 2024** | $**%** | **%** | $**%** | **%** |
| **INTEREST INCOME** |  |  |  |  |  |  |  |
| Interest-bearing deposits | $**472** | $487 | $695 |  | (3.1)% |  | (32.1)% |
| FHLB stock | **121** | 130 | 164 |  | (6.9) |  | (26.2) |
| Securities: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxable | **1735** | 1735 | 1904 |  | - |  | (8.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax-exempt | **18** | 17 | 17 |  | 5.9 |  | 5.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total securities | **1753** | 1752 | 1921 |  | 0.1 |  | (8.7) |
| Loans: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SBA loans | **964** | 856 | 1159 |  | 12.6 |  | (16.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial loans | **27197** | 25736 | 22283 |  | 5.7 |  | 22.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage loans | **10749** | 10390 | 9657 |  | 3.5 |  | 11.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer loans | **1469** | 1491 | 1436 |  | (1.5) |  | 2.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential construction loans | **1636** | 1758 | 2235 |  | (6.9) |  | (26.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans | **42015** | 40231 | 36770 |  | 4.4 |  | 14.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest income | **44361** | 42600 | 39550 |  | 4.1 |  | 12.2 |
| **INTEREST EXPENSE** |  |  |  |  |  |  |  |
| Interest-bearing demand deposits | **1998** | 1898 | 1802 |  | 5.3 |  | 10.9 |
| Savings deposits | **3177** | 2718 | 3605 |  | 16.9 |  | (11.9) |
| Brokered deposits | **2003** | 1786 | 2039 |  | 12.2 |  | (1.8) |
| Time deposits | **6247** | 6560 | 6186 |  | (4.8) |  | 1.0 |
| Borrowed funds and subordinated debentures | **1080** | 1081 | 1062 |  | (0.1) |  | 1.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | **14505** | 14043 | 14694 |  | 3.3 |  | (1.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income | **29856** | 28557 | 24856 |  | 4.5 |  | 20.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses, loans | **1409** | 1725 | 1029 |  | (18.3) |  | 36.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Release) Provision for credit losses, off-balance sheet | **(80)** | 136 | 51 |  | \*NM |  | \*NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Release of credit losses, securities | **(787)** | (2036) | - |  | 61.3 |  | \*NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income after provision for credit losses | **29314** | 28732 | 23776 |  | 2.0 |  | 23.3 |
| **NONINTEREST INCOME** |  |  |  |  |  |  |  |
| Branch fee income | **450** | 465 | 420 |  | (3.2) |  | 7.1 |
| Service and loan fee income | **607** | 536 | 753 |  | 13.2 |  | (19.4) |
| Gain on sale of SBA loans held for sale, net | **238** | 163 | 70 |  | 46.0 |  | 240.0 |
| Gain on sale of mortgage loans, net | **582** | 435 | 549 |  | 33.8 |  | 6.0 |
| BOLI income | **211** | 183 | 135 |  | 15.3 |  | 56.3 |
| Net securities gains | **475** | 3600 | 499 |  | (86.8) |  | (4.8) |
| Other income | **404** | 433 | 377 |  | (6.7) |  | 7.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | **2967** | 5815 | 2803 |  | (49.0) |  | 5.9 |
| **NONINTEREST EXPENSE** |  |  |  |  |  |  |  |
| Compensation and benefits | **8430** | 8160 | 7274 |  | 3.3 |  | 15.9 |
| Processing and communications | **1150** | 980 | 868 |  | 17.3 |  | 32.5 |
| Occupancy | **838** | 809 | 781 |  | 3.6 |  | 7.3 |
| Furniture and equipment | **838** | 787 | 803 |  | 6.5 |  | 4.4 |
| Professional services | **405** | 350 | 326 |  | 15.7 |  | 24.2 |
| Advertising | **456** | 456 | 465 |  | - |  | (1.9) |
| Loan related expenses | **151** | 265 | 223 |  | (43.0) |  | (32.3) |
| Deposit insurance | **320** | 313 | 245 |  | 2.2 |  | 30.6 |
| Director fees | **263** | 265 | 232 |  | (0.8) |  | 13.4 |
| Other expenses | **564** | 634 | 795 |  | (11.0) |  | (29.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | **13415** | 13019 | 12012 |  | 3.0 |  | 11.7 |
| Income before provision for income taxes | **18866** | 21528 | 14567 |  | (12.4) |  | 29.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for income taxes | **4476** | 5037 | 3662 |  | (11.1) |  | 22.2 |
| Net income | $**14390** | $16491 | $10905 |  | (12.7)% |  | 32.0% |
| Effective tax rate | **23.7%** | 23.4% | 25.1% |  |  |  |  |
| Net income per common share - Basic  | $**1.43** | $1.64 | $1.09 |  |  |  |  |
| Net income per common share - Diluted  | **1.41** | 1.61 | 1.07 |  |  |  |  |
| Weighted average common shares outstanding - Basic | **10036** | 10033 | 9978 |  |  |  |  |
| Weighted average common shares outstanding - Diluted | **10233** | 10212 | 10148 |  |  |  |  |
| \*NM=Not meaningful |  |  |  |  |  |  |  |

---

------

**UNITY BANCORP, INC.**

**YTD CONSOLIDATED STATEMENTS OF INCOME**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **For the nine months ended September 30,**  | **For the nine months ended September 30,**  | **Current YTD vs. Prior YTD** | **Current YTD vs. Prior YTD** |
| <br>*(In thousands, except percentages and per share amounts)* | **2025** | **2024** | $**%** | **%** |
| **INTEREST INCOME** |  |  |  |  |
| Interest-bearing deposits | $**1291** | $1549 |  | (16.7)% |
| FHLB stock | **433** | 624 |  | (30.6) |
| Securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxable | **5257** | 5503 |  | (4.5) |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax-exempt | **53** | 53 |  | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total securities | **5310** | 5556 |  | (4.4) |
| Loans: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SBA loans | **2753** | 3787 |  | (27.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial loans | **77192** | 64273 |  | 20.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage loans | **31086** | 28192 |  | 10.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer loans | **4306** | 4228 |  | 1.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential construction loans | **5390** | 7265 |  | (25.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans | **120727** | 107745 |  | 12.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest income | **127761** | 115474 |  | 10.6 |
| **INTEREST EXPENSE** |  |  |  |  |
| Interest-bearing demand deposits | **5518** | 5523 |  | (0.1) |
| Savings deposits | **8488** | 10097 |  | (15.9) |
| Brokered deposits | **5575** | 6516 |  | (14.4) |
| Time deposits | **19222** | 16718 |  | 15.0 |
| Borrowed funds and subordinated debentures | **3294** | 4499 |  | (26.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | **42097** | 43353 |  | (2.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income | **85664** | 72121 |  | 18.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses, loans | **4491** | 1937 |  | 131.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses, off-balance sheet | **16** | 66 |  | (75.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Release) Provision for credit losses, securities | **(2824)** | 646 |  | (537.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income after provision for credit losses | **83981** | 69472 |  | 20.9 |
| **NONINTEREST INCOME** |  |  |  |  |
| Branch fee income | **1362** | 929 |  | 46.6 |
| Service and loan fee income | **2007** | 1677 |  | 19.7 |
| Gain on sale of SBA loans held for sale, net | **540** | 613 |  | (11.9) |
| Gain on sale of mortgage loans, net | **1185** | 1134 |  | 4.5 |
| BOLI income | **546** | 389 |  | 40.4 |
| Net securities gains | **4026** | 573 |  | \*NM |
| Other income | **1217** | 1238 |  | (1.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | **10883** | 6553 |  | 66.1 |
| **NONINTEREST EXPENSE** |  |  |  |  |
| Compensation and benefits | **24492** | 21751 |  | 12.6 |
| Processing and communications | **3116** | 2615 |  | 19.2 |
| Occupancy | **2527** | 2394 |  | 5.6 |
| Furniture and equipment | **2370** | 2306 |  | 2.8 |
| Professional services | **1118** | 1167 |  | (4.2) |
| Advertising | **1302** | 1263 |  | 3.1 |
| Loan related expenses | **462** | 959 |  | (51.8) |
| Deposit insurance | **874** | 905 |  | (3.4) |
| Director fees | **1022** | 709 |  | 44.1 |
| Other expenses | **1758** | 2055 |  | (14.5) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | **39041** | 36124 |  | 8.1 |
| Income before provision for income taxes | **55823** | 39901 |  | 39.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for income taxes | **13339** | 9956 |  | 34.0 |
| Net income | $**42484** | $29945 |  | 41.9% |
| Effective tax rate | **23.9**% | 25.0% |  |  |
| Net income per common share - Basic  | $**4.23** | $2.98 |  |  |
| Net income per common share - Diluted  | **4.15** | 2.94 |  |  |
| Weighted average common shares outstanding - Basic | **10041** | 10040 |  |  |
| Weighted average common shares outstanding - Diluted | **10231** | 10192 |  |  |
| \*NM=Not meaningful |  |  |  |  |

---

------

**UNITY BANCORP, INC.**

**QUARTER TO DATE NET INTEREST MARGIN**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three months ended** | **For the three months ended** | **For the three months ended** | **For the three months ended** | **For the three months ended** | **For the three months ended** |
| *(Dollar amounts in thousands, interest amounts and* | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2024** | **September 30, 2024** | **September 30, 2024** |
| *interest rates/yields on a fully tax-equivalent basis)* | **Average Balance** | **Interest** | **Rate/Yield** | **Average Balance** | **Interest** | **Rate/Yield** |
| **ASSETS** |  |  |  |  |  |  |
| *Interest-earning assets:* |  |  |  |  |  |  |
| Interest-bearing deposits | $**42014**  | $**472** | **4.46%** | $50232  | $695 | 5.50% |
| FHLB stock | **7588**  | **121** | **6.31**  | 7530  | 164 | 8.67  |
| Securities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxable | **135170**  | **1735** | **5.14**  | 141682  | 1904 | 5.38  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax-exempt | **1460**  | **24** | **6.43**  | 1579  | 18 | 4.48  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total securities (A) | **136630**  | **1759** | **5.15**  | 143261  | 1922 | 5.37  |
| Loans: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SBA loans | **46001**  | **964** | **8.38**  | 53987  | 1159 | 8.59  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial loans | **1552462**  | **27197** | **6.86**  | 1321336  | 22283 | 6.60  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage loans | **674260**  | **10749** | **6.38**  | 628299  | 9657 | 6.15  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer loans  | **82851**  | **1469** | **6.94**  | 70740  | 1436 | 7.94  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential construction loans | **68056**  | **1636** | **9.41**  | 99865  | 2235 | 8.76  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans (B) | **2423630**  | **42015** | **6.78**  | 2174227  | 36770 | 6.62  |
| Total interest-earning assets | $**2609862**  | $**44367** | **6.74%** | $2375250  | $39551 | 6.62% |
| *Noninterest-earning assets:* |  |  |  |  |  |  |
| Cash and due from banks | **23335**  |  |  | 23728  |  |  |
| Allowance for credit losses | **(29641)** |  |  | (26406) |  |  |
| Other assets | **98914**  |  |  | 93000  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest-earning assets | **92608**  |  |  | 90322  |  |  |
| Total assets | $**2702470**  |  |  | $2465572  |  |  |
| **LIABILITIES AND SHAREHOLDERS' EQUITY** |  |  |  |  |  |  |
| *Interest-bearing liabilities:* |  |  |  |  |  |  |
| Interest-bearing demand deposits | $**363353**  | $**1998** | **2.18%** | $320256  | $1802 | 2.24% |
| Savings deposits | **510616**  | **3177** | **2.47**  | 530954  | 3605 | 2.70  |
| Brokered deposits | **230728**  | **2003** | **3.44**  | 217851  | 2039 | 3.72  |
| Time deposits | **665691**  | **6247** | **3.72**  | 560297  | 6186 | 4.39  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | **1770388**  | **13425** | **3.01**  | 1629358  | 13632 | 3.33  |
| Borrowed funds and subordinated debentures | **118350**  | **1080** | **3.57**  | 120067  | 1062 | 3.46  |
| Total interest-bearing liabilities | $**1888738**  | $**14505** | **3.05%** | $1749425  | $14694 | 3.34% |
| *Noninterest-bearing liabilities:* |  |  |  |  |  |  |
| Noninterest-bearing demand deposits | **453140**  |  |  | 408376  |  |  |
| Other liabilities | **32741**  |  |  | 28761  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest-bearing liabilities | **485881**  |  |  | 437137  |  |  |
| Total shareholders' equity | **327851**  |  |  | 279010  |  |  |
| Total liabilities and shareholders' equity | $**2702470**  |  |  | $2465572  |  |  |
| Net interest spread |  | $**29862** | **3.69%** |  | $24857 | 3.28% |
| Tax-equivalent basis adjustment |  | **(6)** |  |  | (1) |  |
| Net interest income |  | $**29856** |  |  | $24856 |  |
| Net interest margin |  |  | **4.54%** |  |  | 4.16% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(A) Yields related to securities exempt from federal and state income taxes are stated on a fully tax-equivalent basis. They are reduced by the nondeductible portion of interest expense, assuming a federal tax rate of 21 percent and applicable state rates.

&nbsp;&nbsp;&nbsp;&nbsp;(B) The loan averages are stated net of unearned income, and the averages include loans on which the accrual of interest has been discontinued.

------

**UNITY BANCORP, INC.**

**QUARTER TO DATE NET INTEREST MARGIN**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three months ended** | **For the three months ended** | **For the three months ended** | **For the three months ended** | **For the three months ended** | **For the three months ended** |
| *(Dollar amounts in thousands, interest amounts and* | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| *interest rates/yields on a fully tax-equivalent basis)* | **Average Balance** | **Interest** | **Rate/Yield** | **Average Balance** | **Interest** | **Rate/Yield** |
| **ASSETS** |  |  |  |  |  |  |
| *Interest-earning assets:* |  |  |  |  |  |  |
| Interest-bearing deposits | $**42014**  | $**472**  | **4.46%** | $43985  | $487 | 4.44% |
| FHLB stock | **7588**  | **121**  | **6.31**  | 7626  | 130 | 6.82  |
| Securities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxable | **135170**  | **1735**  | **5.14**  | 138283  | 1735 | 5.02  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax-exempt | **1460**  | **24**  | **6.43**  | 1471  | 20 | 5.59  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total securities (A) | **136630**  | **1759**  | **5.15**  | 139754  | 1755 | 5.02  |
| Loans: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SBA loans | **46001**  | **964** | **8.38**  | 48646  | 856 | 7.04  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial loans | **1552462**  | **27197** | **6.86**  | 1497021  | 25736 | 6.80  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage loans | **674260**  | **10749** | **6.38**  | 658239  | 10390 | 6.31  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer loans  | **82851**  | **1469** | **6.94**  | 82265  | 1491 | 7.17  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential construction loans | **68056**  | **1636** | **9.41**  | 72525  | 1758 | 9.59  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans (B) | **2423630**  | **42015** | **6.78**  | 2358696  | 40231 | 6.75  |
| Total interest-earning assets | $**2609862**  | $**44367**  | **6.74%** | $2550061  | $42603 | 6.70% |
| *Noninterest-earning assets:* |  |  |  |  |  |  |
| Cash and due from banks | **23335**  |  |  | 21601  |  |  |
| Allowance for credit losses | **(29641)** |  |  | (28067) |  |  |
| Other assets | **98914**  |  |  | 95195  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest-earning assets | **92608**  |  |  | 88729  |  |  |
| Total assets | $**2702470**  |  |  | $2638790  |  |  |
| **LIABILITIES AND SHAREHOLDERS' EQUITY** |  |  |  |  |  |  |
| *Interest-bearing liabilities:* |  |  |  |  |  |  |
| Interest-bearing demand deposits | $**363353**  | $**1998**  | **2.18%** | $354353  | $1898 | 2.15% |
| Savings deposits | **510616**  | **3177**  | **2.47**  | 487307  | 2718 | 2.24  |
| Brokered deposits | **230728**  | **2003**  | **3.44**  | 207128  | 1786 | 3.46  |
| Time deposits | **665691**  | **6247**  | **3.72**  | 682426  | 6560 | 3.86  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | **1770388**  | **13425**  | **3.01**  | 1731214  | 12962 | 3.00  |
| Borrowed funds and subordinated debentures | **118350**  | **1080**  | **3.57**  | 118166  | 1081 | 3.62  |
| Total interest-bearing liabilities | $**1888738**  | $**14505**  | **3.05%** | $1849380  | $14043 | 3.05% |
| *Noninterest-bearing liabilities:* |  |  |  |  |  |  |
| Noninterest-bearing demand deposits | **453140**  |  |  | 442151  |  |  |
| Other liabilities | **32741**  |  |  | 34464  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest-bearing liabilities | **485881**  |  |  | 476615  |  |  |
| Total shareholders' equity | **327851**  |  |  | 312795  |  |  |
| Total liabilities and shareholders' equity | $**2702470**  |  |  | $2638790  |  |  |
| Net interest spread |  | $**29862** | **3.69%** |  | $28560 | 3.66% |
| Tax-equivalent basis adjustment |  | **(6)** |  |  | (3) |  |
| Net interest income |  | $**29856** |  |  | $28557 |  |
| Net interest margin |  |  | **4.54%** |  |  | 4.49% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(A) Yields related to securities exempt from federal and state income taxes are stated on a fully tax-equivalent basis. They are reduced by the nondeductible portion of interest expense, assuming a federal tax rate of 21 percent and applicable state rates.

&nbsp;&nbsp;&nbsp;&nbsp;(B) The loan averages are stated net of unearned income, and the averages include loans on which the accrual of interest has been discontinued.

------

**UNITY BANCORP, INC.**

**YTD NET INTEREST MARGIN**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the nine months ended**  | **For the nine months ended**  | **For the nine months ended**  | **For the nine months ended**  | **For the nine months ended**  | **For the nine months ended**  |
| *(Dollar amounts in thousands, interest amounts and* | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2024** | **September 30, 2024** | **September 30, 2024** |
| *interest rates/yields on a fully tax-equivalent basis)* | **Average Balance** | **Interest** | **Rate/Yield** | **Average Balance** | **Interest** | **Rate/Yield** |
| **ASSETS** |  |  |  |  |  |  |
| *Interest-earning assets:* |  |  |  |  |  |  |
| Interest-bearing deposits | $**38796**  | $**1291**  | **4.45%** | $37764  | $1549 | 5.48% |
| FHLB stock | **7558**  | **433**  | **7.65**  | 8822  | 624 | 9.45  |
| Securities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxable | **138739**  | **5257**  | **5.05**  | 139029  | 5503 | 5.28  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax-exempt | **1508**  | **62**  | **5.51**  | 1603  | 56 | 4.50  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total securities (A) | **140247**  | **5319**  | **5.06**  | 140632  | 5559 | 5.27  |
| Loans: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SBA loans | **48082**  | **2753** | **7.55**  | 57330  | 3787 | 8.71  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial loans | **1499213**  | **77192** | **6.79**  | 1301303  | 64273 | 6.49  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage loans | **657540**  | **31086** | **6.30**  | 626286  | 28192 | 6.00  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer loans  | **80119**  | **4306** | **7.09**  | 70313  | 4228 | 7.90  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential construction loans  | **74938**  | **5390** | **9.49**  | 113901  | 7265 | 8.38  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans (B) | **2359892**  | **120727** | **6.75**  | 2169133  | 107745 | 6.53  |
| Total interest-earning assets | $**2546493**  | $**127770**  | **6.71%** | $2356351  | $115477 | 6.55% |
| *Noninterest-earning assets:* |  |  |  |  |  |  |
| Cash and due from banks | **22684**  |  |  | 23499  |  |  |
| Allowance for credit losses | **(28396)** |  |  | (26223) |  |  |
| Other assets | **95248**  |  |  | 92658  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest-earning assets | **89536**  |  |  | 89934  |  |  |
| Total assets | $**2636029**  |  |  | $2446285  |  |  |
| **LIABILITIES AND SHAREHOLDERS' EQUITY** |  |  |  |  |  |  |
| *Interest-bearing liabilities:* |  |  |  |  |  |  |
| Interest-bearing demand deposits | $**353310**  | $**5518**  | **2.09%** | $327544  | $5523 | 2.25% |
| Savings deposits | **497715**  | **8488**  | **2.28**  | 512969  | 10097 | 2.63  |
| Brokered deposits | **217187**  | **5575**  | **3.43**  | 229862  | 6516 | 3.79  |
| Time deposits | **662119**  | **19222**  | **3.88**  | 520448  | 16718 | 4.29  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | **1730331**  | **38803**  | **3.00**  | 1590823  | 38854 | 3.26  |
| Borrowed funds and subordinated debentures | **118548**  | **3294**  | **3.66**  | 150278  | 4499 | 3.93  |
| Total interest-bearing liabilities | $**1848879**  | $**42097**  | **3.04%** | $1741101  | $43353 | 3.33% |
| *Noninterest-bearing liabilities:* |  |  |  |  |  |  |
| Noninterest-bearing demand deposits | **440388**  |  |  | 404471  |  |  |
| Other liabilities | **32356**  |  |  | 28883  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest-bearing liabilities | **472744**  |  |  | 433354  |  |  |
| Total shareholders' equity | **314406**  |  |  | 271830  |  |  |
| Total liabilities and shareholders' equity | $**2636029**  |  |  | $2446285  |  |  |
| Net interest spread |  | $**85673** | **3.67%** |  | $72124 | 3.22% |
| Tax-equivalent basis adjustment |  | **(9)** |  |  | (3) |  |
| Net interest income |  | $**85664** |  |  | $72121 |  |
| Net interest margin |  |  | **4.50%** |  |  | 4.09% |

---

(A) Yields related to securities exempt from federal and state income taxes are stated on a fully tax-equivalent basis. They are reduced by the nondeductible portion of interest expense, assuming a federal tax rate of 21 percent and applicable state rates.

(B) The loan averages are stated net of unearned income, and the averages include loans on which the accrual of interest has been discontinued.

------

**UNITY BANCORP, INC.**

**QUARTERLY ALLOWANCE FOR CREDIT LOSSES AND ASSET QUALITY SCHEDULES**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *Amounts in thousands, except percentages*  | **September 30, 2025** | **June 30, 2025** | **March 31, 2025** | **December 31, 2024** | **September 30, 2024** |
| **ALLOWANCE FOR CREDIT LOSSES:** |  |  |  |  |  |
| Balance, beginning of period | $**29012** | $27651 | $26788 | $27002 | $26107 |
| Provision for credit losses on loans | **1409** | 1725 | 1358 | 470 | 1029 |
|  | **30421** | 29376 | 28146 | 27472 | 27136 |
| Less: Chargeoffs |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SBA loans | **211** | 105 | 350 | 300 | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial loans | **-** | 100 | 2 | 350 | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage loans | **85** | 282 | 130 | 150 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer loans | **30** | 21 | 50 | 93 | 68 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential construction loans | **-** | - | - | - | - |
| Total chargeoffs | **326** | 508 | 532 | 893 | 184 |
| Add: Recoveries |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SBA loans | **50** | 2 | 5 | 26 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial loans | **92** | 102 | 5 | 171 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage loans | **-** | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer loans | **8** | 40 | 27 | 12 | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential construction loans | **-** | - | - | - | - |
| Total recoveries | **150** | 144 | 37 | 209 | 50 |
| Net chargeoffs | **(176)** | (364) | (495) | (684) | (134) |
| Balance, end of period | $**30245** | $29012 | $27651 | $26788 | $27002 |
| **ASSET QUALITY INFORMATION:** |  |  |  |  |  |
| Nonaccrual loans: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SBA loans | $**4225** | $4177 | $3231 | $3850 | $3646 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial loans | **4006** | 3512 | 4821 | 2974 | 3674 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage loans | **11174** | 7980 | 8622 | 5711 | 5053 |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer loans | **938** | - | - | - | 100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential construction loans | **171** | 171 | 171 | 547 | 547 |
| Total nonaccrual loans | **20514** | 15840 | 16845 | 13082 | 13020 |
| Debt securities available for sale, net of valuation allowance | **-** | - | 1145 | 1964 | 2859 |
| Nonaccrual assets | **20514** | 15840 | 17990 | 15046 | 15879 |
| Loans 90 days past due & still accruing | $**356** | $2876 | $1123 | $760 | $- |
| Nonaccrual loans to total loans | **0.83%** | 0.66% | 0.72% | 0.58% | 0.59% |
| Nonaccrual assets to total assets | **0.71** | 0.54 | 0.65 | 0.57 | 0.60 |
| Allowance for credit losses to: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans at quarter end | **1.23%** | 1.22% | 1.18% | 1.18% | 1.22% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total nonaccrual loans | **147.44** | 183.16 | 164.15 | 204.77 | 207.39 |

---

------

**UNITY BANCORP, INC.**

**QUARTERLY FINANCIAL DATA**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In thousands, except %'s, employee, office and per share amounts)* | **September 30, 2025** | **June 30, 2025** | **March 31, 2025** | **December 31, 2024** | **September 30, 2024** |
| **SUMMARY OF INCOME:** |  |  |  |  |  |
| Total interest income | $**44361** | $42600 | $40801 | $40264 | $39550 |
| Total interest expense | **14505** | 14043 | 13550 | 13774 | 14694 |
| Net interest income | **29856** | 28557 | 27251 | 26490 | 24856 |
| Provision (Release) for credit losses | **542** | (175) | 1317 | 1300 | 1080 |
| Net interest income after provision for credit losses | **29314** | 28732 | 25934 | 25190 | 23776 |
| Total noninterest income | **2967** | 5815 | 2101 | 1916 | 2803 |
| Total noninterest expense | **13415** | 13019 | 12611 | 12617 | 12012 |
| Income before provision for income taxes | **18866** | 21528 | 15424 | 14489 | 14567 |
| Provision for income taxes | **4476** | 5037 | 3826 | 2984 | 3662 |
| Net income | $**14390** | $16491 | $11598 | $11505 | $10905 |
| Net income per common share - Basic | $**1.43** | $1.64 | $1.15 | $1.15 | $1.09 |
| Net income per common share - Diluted | **1.41** | 1.61 | 1.13 | 1.13 | 1.07 |
| **COMMON SHARE DATA:** |  |  |  |  |  |
| Market price per share | $**48.87** | $47.08 | $40.70 | $43.61 | $34.06 |
| Dividends paid | **0.15** | 0.14 | 0.14 | 0.13 | 0.13 |
| Book value per common share | **33.26** | 31.88 | 30.38 | 29.48 | 28.48 |
| Weighted average common shares outstanding - Basic | **10036** | 10033 | 10054 | 10002 | 9978 |
| Weighted average common shares outstanding - Diluted | **10233** | 10212 | 10247 | 10204 | 10148 |
| Issued common shares | **11681** | 11672 | 11666 | 11616 | 11570 |
| Outstanding common shares | **10041** | 10032 | 10076 | 10026 | 9980 |
| Treasury shares | **1640** | 1640 | 1590 | 1590 | 1590 |
| **QUARTERLY PERFORMANCE RATIOS (ANNUALIZED):** |  |  |  |  |  |
| Return on average assets | **2.11%** | 2.51% | 1.83% | 1.83% | 1.76% |
| Return on average equity | **17.41** | 21.15 | 15.56 | 15.77 | 15.55 |
| Efficiency ratio\*\* | **41.47** | 42.31 | 42.89 | 44.44 | 44.23 |
| Noninterest expense to average assets | **1.97** | 1.98 | 1.99 | 2.01 | 1.94 |
| **BALANCE SHEET DATA:** |  |  |  |  |  |
| Total assets | $**2876365** | $2928523 | $2767943 | $2654017 | $2635319 |
| Total securities | **131252** | 139348 | 142092 | 145028 | 143712 |
| Total loans | **2468527** | 2382594 | 2345130 | 2260657 | 2217393 |
| Allowance for credit losses | **30245** | 29012 | 27651 | 26788 | 27002 |
| Total deposits  | **2267484** | 2187366 | 2175398 | 2100313 | 2046137 |
| Total shareholders' equity | **334023** | 319840 | 306142 | 295583 | 284257 |
| **TAX EQUIVALENT YIELDS AND RATES:** |  |  |  |  |  |
| Interest-earning assets | **6.74%** | 6.70% | 6.68% | 6.64% | 6.62% |
| Interest-bearing liabilities | **3.05** | 3.05 | 3.04 | 3.13 | 3.34 |
| Net interest spread | **3.69** | 3.66 | 3.64 | 3.51 | 3.28 |
| Net interest margin | **4.54** | 4.49 | 4.46 | 4.37 | 4.16 |
| **CREDIT QUALITY:** |  |  |  |  |  |
| Nonaccrual assets | $**20514** | $15840 | $17990 | $15046 | $15879 |
| QTD annualized net chargeoffs to QTD average loans | **(0.03)%** | (0.06)% | (0.09)% | (0.12)% | (0.02)% |
| Allowance for credit losses to total loans | **1.23** | 1.22 | 1.18 | 1.18 | 1.22 |
| Nonaccrual loans to total loans | **0.83** | 0.66 | 0.72 | 0.58 | 0.59 |
| Nonaccrual assets to total assets | **0.71** | 0.54 | 0.65 | 0.57 | 0.60 |
| **UNITY BANCORP CAPITAL RATIOS:** |  |  |  |  |  |
| Total equity to total assets | **11.61%** | 10.92% | 11.06% | 11.14% | 10.79% |
| Leverage ratio | **12.71** | 12.50 | 12.32 | 12.22 | 11.94 |
| Common Equity Tier 1 Capital Ratio | **14.45** | 13.96 | 13.87 | 13.90 | 13.50 |
| Risk-based Tier 1 Capital Ratio | **14.88** | 14.39 | 14.33 | 14.37 | 13.98 |
| Risk-based Total Capital Ratio | **16.13** | 15.65 | 15.58 | 15.62 | 15.23 |
| Number of banking offices | **22** | 21 | 21 | 21 | 21 |
| Employee Full-Time Equivalent | **238** | 237 | 227 | 224 | 222 |

---

------

*\*\* The efficiency ratio is a non-GAAP measure, calculated based on the noninterest expense divided by the sum of net interest income plus non interest income, excluding net gains and losses on securities.*

**UNITY BANCORP, INC.**

**LOAN PORTFOLIO COMPOSITION**

---

| | | | | |
|:---|:---|:---|:---|:---|
| *In thousands, except percentages* | **September 30, 2025** | **%** | **December 31, 2024** | **%** |
| **Loans Held for Sale** | $**15421** | **0.6%** | $12163 | 0.5% |
| **SBA Loans** | **37537** | **1.5%** | 38309 | 1.7% |
| **Commercial Loans** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial construction | **117111** | **4.7%** | 130193 | 5.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;SBA 504 | **41870** | **1.7%** | 48479 | 2.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial & industrial | **168579** | **6.8%** | 147186 | 6.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial mortgage - owner occupied | **640837** | **26.0%** | 577541 | 25.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial mortgage - nonowner occupied  | **525974** | **21.3%** | 428600 | 19.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | **88237** | **3.6%** | 79630 | 3.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Commercial Loans | **1582608** | **64.1%** | 1411629 | 62.5% |
| **Residential Mortgage Loans** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Primary residence | **471747** | **19.1%** | 427738 | 18.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Secondary residence | **70465** | **2.9%** | 65063 | 2.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor property | **134650** | **5.4%** | 138126 | 6.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Residential Mortgage Loans | **676862** | **27.4%** | 630927 | 27.9% |
| **Consumer Loans** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity  | **78951** | **3.2%** | 73223 | 3.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer other | **3906** | **0.2%** | 3488 | 0.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Consumer Loans | **82857** | **3.4%** | 76711 | 3.4% |
| **Residential Construction Loans** | **73242** | **3.0%** | 90918 | 4.0% |
| **Total Gross Loans** | $**2468527** | **100.0%** | $2260657 | 100.0% |

---

------

**UNITY BANCORP, INC.**

**QUARTERLY NON-GAAP RECONCILIATION**

---

| | | | |
|:---|:---|:---|:---|
| | **For the three months ended** | **For the three months ended** | **For the three months ended** |
| <br>*(In thousands, except percentages and per share amounts)* | **September 30, 2025** | **June 30, 2025** | **September 30, 2024** |
| **Adjusted net income:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income (GAAP) | $**14390** | $16491 | $10905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-recurring transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Release of credit losses, securities | **(787)** | (2036) | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Net securities gains, pertaining to one-time sales | **-** | (3509) | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Net securities gains, unrealized | **(218)** | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Add: Adjusted release (provision) for income taxes | **238** | 1301 | - |
| **Adjusted net income (non-GAAP)** | $**13623** | $12247 | $10905 |
| **Adjusted net income per common share:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted average common shares outstanding - Basic | **10036** | 10033 | 9978 |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted average common shares outstanding - Diluted | **10233** | 10212 | 10148 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income per common share - Basic (GAAP) | $**1.43** | $1.64 | $1.09 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income per common share - Diluted (GAAP) | **1.41** | 1.61 | 1.07 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted net income per common share - Basic (non-GAAP) | $**1.36** | $1.22 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted net income per common share - Diluted (non-GAAP) | **1.33** | 1.20 |  |
| **Adjusted return on average assets:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total QTD average assets | **2702470**  | 2638790  | 2465572  |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on average assets (GAAP) | **2.11**% | 2.51% | 1.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted return on average assets (non-GAAP) | **2.00** | 1.86 |  |
| **Adjusted return on average equity:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total QTD average equity | **327851**  | 312795  | 279010  |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on average equity (GAAP) | **17.41**% | 21.15% | 15.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted return on average equity (non-GAAP) | **16.49** | 15.70 |  |

---

------