Unity Bancorp Declares 20% Increase in Cash Dividend

CLINTON, N.J., April 28, 2017 -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a 20% increase it its cash dividend from $0.05 per common share to $0.06 per common share.  Such dividend is payable on June 29, 2017, to shareholders of record as of June 15, 2017. 

James A. Hughes, President and CEO stated “I am proud to announce that the Board and Management wish to reward our loyal shareholders with a larger dividend payment.”

Unity Bancorp, Inc. is a financial service organization headquartered in Clinton, New Jersey, with approximately $1.2 billion in assets and $981 million in deposits.  Unity Bank provides financial services to retail, corporate and small business customers through its 17 retail service centers located in Bergen, Hunterdon, Middlesex, Somerset, Union and Warren Counties in New Jersey and Northampton County, Pennsylvania.  For additional information about Unity, visit our website at www.unitybank.com, or call 800-618-BANK.

This news release contains certain forward-looking statements, either expressed or implied, which are provided to assist the reader in understanding anticipated future financial performance.  These statements may be identified by use of the words “believe”, “expect”, “intend”, “anticipate”, “estimate”, “project” or similar expressions.  These statements involve certain risks, uncertainties, estimates and assumptions made by management, which are subject to factors beyond the company’s control and could impede its ability to achieve these goals.  These factors include those items included in our Annual Report on Form 10-K under the heading “Item IA-Risk Factors” as well as general economic conditions, trends in interest rates, the ability of our borrowers to repay their loans, our ability to manage and reduce the level of our nonperforming assets, and results of regulatory exams, among other factors.                                                                                                                                                                                      

News Media & Financial Analyst Contact:
Alan Bedner, EVP
Chief Financial Officer
(908) 713-4308