Unity Bank Achieves Top Rankings in National Bank Performance
Unity Bank's National Recognition
Unity Bancorp, Inc. (NASDAQ: UNTY), the parent company of Unity Bank, has once again been celebrated in the prestigious Top 25 Banks ranking published by Bank Director magazine. The bank has earned the notable distinction of being the 13th best publicly traded bank in the nation and securing 5th place in Return on Assets (ROA) among banks with assets below $5 billion.
Year-on-Year Progress and Growth
This commendation reflects Unity Bank's significant improvements over the past year, advancing from its previous ranking of 21st in 2022. The bank's total assets have risen to approximately $2.6 billion, alongside an impressive deposit figure of $2.0 billion, signifying strong financial health and customer trust.
Criteria for Evaluation
The Top 25 Banks list, an annual publication since 2017, assesses financial institutions based on their performance metrics, including balance growth, profitability, asset quality, long-term shareholder value, and safety indicators. Critical components such as profitability, capital adequacy, asset quality, and total shareholder return are meticulously examined, utilizing data compiled by investment bank Piper Sandler and sourced from S&P Global Market Intelligence.
Leadership Commitment to Growth
James A. Hughes, President & CEO of Unity Bank, expressed his satisfaction with the bank's recognition, stating, “We are pleased to once again be 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.”
Strong Profitability Performance
Unity Bank's notable ranking is a testament to its strong profitability performance. The institution has ranked 5th nationally for Return on Assets (ROA) in its asset category, underscoring its commitment to efficient operations and customer service.
Insights into Bank Director
Bank Director plays a crucial role in connecting with the leaders of America’s banking sector. Since its inception in 1991, it has provided invaluable research, peer insights, and executive services tailored specifically for banking institutions. Through its magazine, board training services, and conferences like Acquire or Be Acquired, Bank Director delivers timely information relevant to today’s banking landscape.
Unity Bank Overview
Unity Bancorp, Inc. (NASDAQ: UNTY) serves as the parent entity of Unity Bank, which is a community-oriented financial services provider based in Clinton. Unity Bank boasts 21 branches across various locations, focusing on community-focused commercial banking solutions that encompass deposit accounts, loan services, and digital banking facilities. The bank is committed to serving its customers and enhancing their banking experience.
Comprehensive Customer Support
Unity Bank is dedicated to not only providing banking services but also offering support that meets customer needs. As a member of the Federal Deposit Insurance Corporation (FDIC), Unity Bank adheres to the highest standards of banking safety and security, ensuring that customers' deposits are protected.
Contact Information
For further inquiries, please reach out to:
Crystal Rose
Marketing Director
(908) 713-4310
Crystal.Rose@unitybank.com
Frequently Asked Questions
What is the recent ranking of Unity Bank?
Unity Bank is ranked 13th nationally and 5th in ROA among banks with assets under $5 billion.
How has Unity Bank's performance changed over the years?
The bank improved its ranking from 21st in 2022 to 13th in the latest rankings, showing significant growth.
What are the criteria for the Top 25 Banks ranking?
The rankings assess balance growth, profitability, asset quality, long-term shareholder value, and safety metrics.
Who is the CEO of Unity Bank?
James A. Hughes is the President & CEO of Unity Bank.
What services does Unity Bank provide?
Unity Bank offers a range of community-focused commercial banking services, including loans, deposit accounts, and digital banking solutions.
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