Unity Bank Ranked 13th Nationally by Bank Director in U.S. Ranking of the Best Publicly Traded Banks
01 Agosto 2023 - 6:42PM
Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank,
has been selected for the second year in a row for the national Top
25 Banks ranking published by Bank Director magazine.
Unity was 13th nationally on the ranking of the
largest 300 publicly traded banks and 7th nationally for banks in
the $1 billion to $5 billion asset category. Both of those rankings
represented improvements from the 2022 ranking for Unity, which
came in at 21st nationally and 9th in its asset category on the
previous list. Unity holds approximately $2.6 billion in assets and
$1.8 billion in deposits.
Published annually since 2017, the list is based
on the prior year’s performance and identifies the best U.S. banks
in the areas of balance growth and profitability, asset quality,
long-term shareholder value and achieving goals in a safe and sound
manner. The rankings evaluate profitability, capital adequacy,
asset quality and total shareholder return. The investment bank
Piper Sandler compiles the list using data from S&P Global
Market Intelligence.
“We are honored to be recognized on this
prestigious national ranking for the second consecutive year,” said
Unity Bank President & CEO James A. Hughes. “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. Our customers,
employees and directors have positioned Unity for success, a fact
that is quite evident in the Bank Director rankings.”
Unity’s second appearance on Top 25 Banks was
highlighted by its profitability performance. The bank ranked 12th
nationally for Return on Average Assets (ROAA). Please see the
third quarter issue of Bank Director, for complete details on Top
25 Banks.
About Bank DirectorBank
Director reaches the leaders of the institutions that comprise
America’s banking industry. Since 1991, Bank Director has provided
board-level research, peer insights and in-depth executive and
board services. Built for banks, Bank Director extends into and
beyond the boardroom by providing timely and relevant information
through Bank Director magazine, board training services and the
financial industry’s premier event, Acquire or Be Acquired. For
more information, please visit BankDirector.com.
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
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