Unity Bancorp, Inc. (UNTY)

Unity Bancorp Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	142.8	133.06	94.8	83.06	76.57	72.33
Interest Income on Investments	10.43	10.44	5.94	1.72	2.35	3.32
Total Interest Income	153.23	143.49	100.74	84.78	78.92	75.65
Interest Paid on Deposits	49.71	33.89	7.25	6.59	12.59	15.75
Interest Paid on Borrowings	7.37	14.61	3.38	1.15	1.89	2.3
Total Interest Expense	57.08	48.5	10.63	7.74	14.48	18.06
Net Interest Income	96.15	95	90.11	77.04	64.44	57.59
Net Interest Income Growth (YoY)	0.50%	5.43%	16.96%	19.56%	11.88%	7.16%
Gain (Loss) on Sale of Assets	-	-	-	-	-	0.77
Gain (Loss) on Sale of Investments	1.19	0.01	-1.31	0.61	0.09	0.37
Other Non-Interest Income	5.43	5.29	7.01	6.14	4.87	5.4
Total Non-Interest Income	9.12	8.14	8.05	12.05	12.95	9.54
Non-Interest Income Growth (YoY)	21.26%	1.21%	-33.26%	-6.89%	35.72%	9.14%
Revenues Before Loan Losses	105.27	103.14	98.15	89.09	77.38	67.13
Provision for Loan Losses	4.46	3.17	4.27	0.18	7	2.1
Revenue	100.81	99.97	93.88	88.91	70.38	65.03
Revenue Growth (YoY)	0.72%	6.49%	5.59%	26.33%	8.23%	7.60%
Salaries and Employee Benefits	27.14	27.3	25.27	23.15	21.71	19.39
Federal Deposit Insurance	1.26	1.72	1.02	0.84	0.67	0.3
Selling, General & Administrative	15.71	14.46	13.51	13.4	12.54	12.83
Other Non-Interest Expense	3.76	3.5	2.65	3.25	4.12	2.15
Total Non-Interest Expense	47.86	46.98	42.46	40.78	39.26	34.72
EBT Excluding Unusual Items	52.95	53	51.42	48.13	31.12	30.32
Pretax Income	52.95	53	51.42	48.13	31.12	30.32
Income Tax Expense	13.24	13.29	12.96	12.01	7.48	6.66
Net Income	39.72	39.71	38.46	36.12	23.64	23.65
Net Income to Common	39.72	39.71	38.46	36.12	23.64	23.65
Net Income Growth	-0.45%	3.25%	6.47%	52.76%	-0.04%	7.91%
Basic Shares Outstanding	10	10	11	10	11	11
Diluted Shares Outstanding	10	10	11	11	11	11
Shares Change (YoY)	-2.62%	-3.43%	1.51%	-2.48%	-1.95%	1.04%
EPS (Basic)	3.95	3.89	3.66	3.47	2.21	2.18
EPS (Diluted)	3.90	3.84	3.59	3.43	2.19	2.14
EPS Growth	2.66%	6.96%	4.66%	56.62%	2.34%	6.47%
Dividend Per Share	0.510	0.480	0.430	0.360	0.320	0.310
Dividend Growth	8.51%	11.63%	19.44%	12.50%	3.23%	14.81%
Effective Tax Rate	25.00%	25.07%	25.21%	24.96%	24.02%	21.98%

Source: S&P Capital IQ. Banks template. Financial Sources.