Skip to main content

Unity Bank Awarded the Raymond James Community Bankers Cup

Written by Customer Service on . Posted in Public Companies.

Unity is the Only New Jersey Bank To Receive the Honor

Raymond James Award Photo

Unity Bank has been awarded the Raymond James Community Bankers Cup for 2022. Pictured with the award are Unity’s Clinton branch team (from left) Cynthia O’Keefe, Lisa Steele, Tracy Tortorello, Jadzia Card, Lauren Clark, and Armine Schonmon.
Unity Bank has been awarded the Raymond James Community Bankers Cup for 2022. Pictured with the award are Unity’s Clinton branch team (from left) Cynthia O’Keefe, Lisa Steele, Tracy Tortorello, Jadzia Card, Lauren Clark, and Armine Schonmon.

CLINTON, N.J., July 07, 2023 (GLOBE NEWSWIRE) — Unity Bank has been awarded the Raymond James Community Bankers Cup for 2022, an honor that recognizes the top 10% of community banks based on various profitability, operational efficiency, and balance sheet metrics. Unity was the only New Jersey headquartered bank recognized for the honor from Raymond James, an independent investment bank and research firm.

“We are honored to be selected for the Raymond James Community Bankers Cup,” said Unity Bank President & CEO James A. Hughes. “Unity Bank is a financially strong, conservatively managed community bank that is ideally positioned to continue to serve our customers and community. We continue to invest in our future by opening new branches, expanding our service area and providing new opportunities for our employees to grow while delivering value for our shareholders.”

Unity was ranked 17th nationally among the 216 community banks considered for the Community Bankers Cup. The top 10% demonstrated superior performance for:

  • Nonperforming assets to loans and real estate owned
  • Five-year average core deposit percentage
  • Net interest margin (NIM)
  • Efficiency ratio
  • Return on average assets (ROAA)
  • Return on average tangible common equity (ROTCE)

The pool of banks considered for recognition included all exchange-traded domestic banks, excluding mutual holding companies and potential acquisition targets, with assets between $500 million and $10 billion as of December 31, 2022.

Unity Bank holds about $2.5 billion in assets and $1.8 billion in deposits. The bank currently operates 20 branches throughout New Jersey and Lehigh Valley, Pennsylvania.

About Unity Bancorp, Inc.
Unity Bancorp, Inc. (NASDAQ: UNTY), the parent company of Unity Bank, its primary and wholly owned subsidiary, is a financial services organization headquartered in Clinton, New Jersey. Unity Bank provides financial services to businesses and consumers at 20 branches throughout New Jersey and the Lehigh Valley, Pennsylvania. Unity Bank provides community-oriented commercial banking services, including deposit accounts, loans, online and mobile services. For more information, please visit unitybank.com or call 800-618-BANK (800-618-2265). Unity Bank is a member of the Federal Deposit Insurance Corporation (FDIC). To learn about FDIC insurance for deposits with member banks, please visit FDIC.gov.

MEDIA CONTACT:
Fred Feiner
Yankee Public Relations
(908) 425-4878
fred@yankeepr.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c3a0d514-3e91-46e1-a5c2-eb058fb70a1b

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.