Unity Bancorp Inc. reported consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter the company reported net loss attributable to common shareholders of $1.1 million or $0.16 diluted loss per share against a net loss of $1.0 million or $0.14 diluted loss per share a year ago. Net interest income was $6.9 million, a decrease of 3.2%. Net loss before tax was $1.0 million against $1.1 million a year ago. Negative return on average assets was 0.33% against 0.47% a year ago. Negative return on average common equity was 9.14% against return on average common equity 8.45% a year ago. The company reported total interest income of $12.185 million compared to the total interest income of $12.965 million for the same period a year ago. For the nine months, the company reported net loss attributable to common shareholders of $2.3 million, or $0.33 diluted loss per share against net income of $1.3 million or $0.19 diluted earnings per share for the same period a year ago. Net interest income was $20.5 million, flat from prior year 2008. Net loss before tax $1.7 million was against income of $2.3 million a year ago. Negative return on average assets was 0.18% against 0.22% a year ago. Negative return on average common equity was 6.38% against return of 3.77% a year ago. Book value per common share was $6.88 against $6.55 a year ago. The company reported total interest income of $37.307 million compared to the total interest income of $37.867 million for the same period a year ago.

Unity Bancorp Inc. reported earnings results for the second quarter and six months ended June 30, 2009. The company reported a net loss available to common shareholders of $1.6 million or $0.22 per diluted share for the quarter ended June 30, 2009, compared to net income of $1.1 million or $0.15 per diluted share, for the second quarter of 2008. For the quarter ended June 30, 2009, net interest income was $6.9 million, an increase of 1.2% from $6.7 million in the quarter ended March 31, 2009, and flat from the quarter ended June 30 2008. Factors affecting second quarter net interest income include, the yield on interest-earning assets decreased 66 basis points to 5.91% from 6.57% for the same period last year; the cost of interest-bearing liabilities decreased 26 basis points from 3.31% to 3.05% in the second quarter of 2009; average earning assets, consisting primarily of loans, rose 13.1%. For the quarter ended June 30, 2009, noninterest income declined $1.9 million from the quarter ended June 30, 2008. Noninterest income was affected by service charges on deposit accounts and service and loan fee income remained re period a year ago. Year-to-date, net interest income was $13.6 million, or 1.2% higher than the $13.5 million reported for the first six months of 2008.

Unity Bancorp Inc. announced the appointment of Mr. David Hensley as its acting Chief Lending Officer. Mr. Hensley has been employed by Unity since November 2005. Mr. Hensley has over 39 years in the financial services industry, including positions of President and Chief Operating Officer of Phillipsburg National Bank, Executive Vice President of Twin Rivers Community Bank, and Regional Senior Vice President of Commercial Lending for United Trust Bank.