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Unity Bancorp, Inc. Reports Strong Q3 2023 Financial Performance with 2.6% Net Income Growth
Quarterly Revenue Reaches $36.99 Million as Unity Bancorp, Inc. Shows Resilience
Unity Bancorp, Inc.(UNTY) has released its financi al results for the third quarter of 2023, showcasing robust performance and sustained growth despite challenging economic conditions. The report highlights a 2.6% increase in net income and $36.99 million in revenue for the quarter. Unity Bancorp, Inc. continues to maintain a strong financial position with its balance sheet data and performance ratios reflecting stability and progress.
Balance Sheet Data
Total Assets Continue to Grow
Unity Bancorp, Inc.'s total assets saw a modest increase of 0.4% to reach $2.56 billion on September 30, 2023, compared to $2.55 billion on June 30, 2023. This growth reflects the bank's consistent efforts to expand its operations, even in the face of economic uncertainty, as the year-over-year total assets increase of 9.6% from $2.34 billion on September 30, 2022, demonstrates.