Unity Bank Awarded the Raymond James Community Bankers Cup
07 Luglio 2023 - 3:43PM
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 FeinerYankee
Public Relations(908) 425-4878fred@yankeepr.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/c3a0d514-3e91-46e1-a5c2-eb058fb70a1b
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