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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2026

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ____ to ____.

Commission File Number 1-12431

Unity Bancorp, Inc.

(Exact name of registrant as specified in its charter)


New Jersey	22-3282551
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

64 Old Highway 22, Clinton, NJ	08809
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code (800) 618-2265

Securities registered pursuant to Section 12(b) of the Exchange Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock	UNTY	NASDAQ

Securities registered pursuant to Section 12(g) of the Exchange Act: None

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934, as amended, during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days: Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically, every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.:


Large accelerated filer ☐	Accelerated filer ☒	Nonaccelerated filer ☐	Smaller reporting company ☐
Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act: Yes ☐ No ☒

The number of shares outstanding of each of the registrant’s classes of common equity stock, as of April 30, 2026 common stock, no par value: 10,040,902 shares outstanding.

Table of Contents

Table of Contents





		Page #
PART I	CONSOLIDATED FINANCIAL INFORMATION

ITEM 1	Consolidated Financial Statements (Unaudited)	3

	Consolidated Balance Sheets at March 31, 2026 and December 31, 2025	3

	Consolidated Statements of Income for the three months ended March 31, 2026 and 2025	4

	Consolidated Statements of Comprehensive Income for the three months ended March 31, 2026 and 2025	5

	Consolidated Statements of Changes in Shareholders’ Equity for the three months ended March 31, 2026 and 2025	6

	Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 2025	7

	Notes to the Consolidated Financial Statements	8

ITEM 2	Management’s Discussion and Analysis of Financial Condition and Results of Operations	33

ITEM 3	Quantitative and Qualitative Disclosures about Market Risk	45

ITEM 4	Controls and Procedures	46

PART II	OTHER INFORMATION	46

ITEM 1	Legal Proceedings	46

ITEM 1A	Risk Factors	46

ITEM 2	Unregistered Sales of Equity Securities and Use of Proceeds	46

ITEM 3	Defaults upon Senior Securities	46

ITEM 4	Mine Safety Disclosures	46

ITEM 5	Other Information	47

ITEM 6	Exhibits	47

	EXHIBIT INDEX	48

	Exhibit 31.1

	Exhibit 31.2 Exhibit 31.3

	Exhibit 32.1

	SIGNATURES	49

Table of Contents

PART I CONSOLIDATED FINANCIAL INFORMATION

Table of Contents

ITEM 1 Consolidated Financial Statements (Unaudited)

Unity Bancorp, Inc.

Consolidated Balance Sheets

(Unaudited)


(In thousands)		March 31, 2026			December 31, 2025
ASSETS
Cash and due from banks		$	24,591		$	19,841
Interest-bearing deposits			204,569			196,678
Cash and cash equivalents			229,160			216,519
Securities:
Debt securities available for sale ("AFS"), at fair value (amortized cost of $65,052 and $72,474 at March 31, 2026 and December 31, 2025, respectively)			63,301			70,870
Debt securities held to maturity ("HTM"), at amortized cost			36,648			36,576
Equity securities with readily determinable fair values			15,319			16,569
Total securities			115,268			124,015
Loans:
Loans held for sale			12,557			9,490
SBA loans held for investment			32,499			34,259
Commercial loans			1,559,166			1,518,032
Commercial construction loans			159,200			147,215
Residential mortgage loans			668,739			677,221
Consumer loans			85,614			85,219
Residential construction loans			83,881			73,277
Total loans			2,601,656			2,544,713
Allowance for credit losses			(33,354)			(32,342)
Net loans			2,568,302			2,512,371
Premises and equipment, net			18,118			18,022
Bank owned life insurance ("BOLI")			26,764			26,547
Deferred tax assets, net			14,888			14,640
Federal Home Loan Bank ("FHLB") stock			13,989			14,314
Accrued interest receivable			13,255			12,896
Goodwill			1,516			1,516
Other real estate owned ("OREO")			1,472			1,472
Prepaid expenses and other assets			24,595			24,340
Total assets		$	3,027,327		$	2,966,652
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities:
Deposits:
Noninterest-bearing demand		$	451,138		$	465,596
Interest-bearing demand			378,162			369,131
Savings			582,730			535,044
Brokered deposits			270,603			274,203
Time deposits			696,507			680,087
Total deposits			2,379,140			2,324,061
Borrowed funds			248,274			255,774
Subordinated debentures			10,310			10,310
Accrued interest payable			2,302			2,138
Accrued expenses and other liabilities			29,206			28,738
Total liabilities			2,669,232			2,621,021
Shareholders’ equity:
Preferred Stock			—			—
Common stock			106,034			105,892
Retained earnings			256,620			243,935
Treasury stock			(3,425)			(3,101)
Accumulated other comprehensive loss			(1,134)			(1,095)
Total shareholders’ equity			358,095			345,631
Total liabilities and shareholders’ equity		$	3,027,327		$	2,966,652

Common shares at period end
Shares issued			10,114			10,048
Shares outstanding			10,041			9,982
Treasury shares			73			66

The accompanying notes to the Consolidated Financial Statements are an integral part of these statements.

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Unity Bancorp, Inc.

Consolidated Statements of Income

(Unaudited)


		For the three months ended March 31,
(In thousands, except per share amounts)		2026			2025
INTEREST INCOME
Interest-bearing deposits		$	558		$	332
FHLB stock			134			182
Securities:
Taxable			1,409			1,786
Tax-exempt			18			18
Total securities			1,427			1,804
Loans:
SBA loans			844			934
Commercial loans			25,016			21,314
Commercial construction loans			3,038			2,946
Residential mortgage loans			10,913			9,947
Consumer loans			1,424			1,346
Residential construction loans			1,825			1,996
Total loans			43,060			38,483
Total interest income			45,179			40,801
INTEREST EXPENSE
Interest-bearing demand deposits			1,910			1,622
Savings deposits			3,160			2,593
Brokered deposits			2,267			1,787
Time deposits			6,128			6,415
Borrowed funds and subordinated debentures			984			1,133
Total interest expense			14,449			13,550
Net interest income			30,730			27,251
Provision for credit losses, loans			1,043			1,358
Provision for credit losses, off-balance sheet			5			(41)
Net interest income after provision for credit losses			29,682			25,934
NONINTEREST INCOME
Branch fee income			489			447
Service and loan fee income			912			864
Gain on sale of SBA loans held for sale, net			427			139
Gain on sale of mortgage loans, net			500			168
BOLI income			217			151
Net security losses			(82)			(49)
Other income			413			381
Total noninterest income			2,876			2,101
NONINTEREST EXPENSE
Compensation and benefits			8,673			7,902
Processing and communications			1,146			986
Occupancy			987			880
Furniture and equipment			715			746
Professional services			488			364
Advertising			393			391
Loan related expenses			473			46
Deposit insurance			300			241
Director fees			260			495
Other expenses			636			560
Total noninterest expense			14,071			12,611
Income before provision for income taxes			18,487			15,424
Provision for income taxes			4,199			3,826
Net income		$	14,288		$	11,598
Net income per common share – Basic		$	1.43		$	1.15
Net income per common share – Diluted		$	1.40		$	1.13
Weighted average common shares outstanding – Basic			10,012			10,054
Weighted average common shares outstanding – Diluted			10,199			10,247

The accompanying notes to the Consolidated Financial Statements are an integral part of these statements.

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Unity Bancorp, Inc.

Consolidated Statements of Comprehensive Income

(Unaudited)


		For the three months ended
		March 31, 2026									March 31, 2025

					Income tax									Income tax
			Before tax		expense				Net of tax			Before tax			expense			Net of tax
(In thousands)		amount			(benefit)			amount			amount			(benefit)			amount
Net income		$	18,487		$	4,199		$	14,288		$	15,424		$	3,826		$	11,598
Other comprehensive income (loss) before reclassifications
Debt securities available for sale:
Unrealized holding (losses) gains on debt securities arising during the period			(147)			(34)			(113)			684			167			517
Less: reclassification adjustment on debt securities included in net income			—			—			—			—			—			—
Total unrealized (losses) gains on debt securities available for sale			(147)			(34)			(113)			684			167			517
Cash flow hedges:
Unrealized holding gains (losses) on cash flow hedges arising during the period			63			17			46			(489)			(134)			(355)
Less: reclassification adjustment for gains on cash flow hedges included in net income			(39)			(11)			(28)			(156)			(43)			(113)
Total unrealized gains (losses) on cash flow hedges			102			28			74			(333)			(91)			(242)
Total other comprehensive (loss) income			(45)			(6)			(39)			351			76			275
Total comprehensive income		$	18,442		$	4,193		$	14,249		$	15,775		$	3,902		$	11,873

The accompanying notes to the Consolidated Financial Statements are an integral part of these statements.

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Unity Bancorp, Inc.

Consolidated Statements of Changes in Shareholders’ Equity

For the three months ended March 31, 2026 and 2025

(Unaudited)


												Accumulated
												other	Total
		Common Stock				Retained				Treasury		comprehensive	shareholders’
(In thousands, except per share data)		Shares	Amount			earnings				stock		loss	equity
Balance, December 31, 2025		9,982	$	105,892		$	243,935		$	(3,101)	$	(1,095)	$	345,631
Net income		—		—			14,288			—		—		14,288
Other comprehensive loss, net of tax		—		—			—			—		(39)		(39)
Dividends on common stock ($0.16 per share)		1		60			(1,603)			—		—		(1,543)
Share-based compensation (1)		65		82			—			—		—		82
Treasury stock purchased, at cost		(7)		—			—			(324)		—		(324)
Balance, March 31, 2026		10,041	$	106,034		$	256,620		$	(3,425)	$	(1,134)	$	358,095


												Accumulated
												other	Total
		Common Stock				Retained				Treasury		comprehensive	shareholders’
(In thousands, except per share data)		Shares	Amount			earnings				stock		(loss) income	equity
Balance, December 31, 2024		10,026	$	103,936		$	227,331		$	(33,577)	$	(2,107)	$	295,583
Net income		—		—			11,598			—		—		11,598
Other comprehensive income, net of tax		—		—			—			—		275		275
Dividends on common stock ($0.14 per share)		1		56			(1,411)			—		—		(1,355)
Share-based compensation (1)		49		41			—			—		—		41
Balance, March 31, 2025		10,076	$	104,033		$	237,518		$	(33,577)	$	(1,832)	$	306,142

(1)	Includes the issuance of common stock under employee benefit plans, which includes nonqualified stock options and restricted stock expense related entries, employee option exercises and the tax benefit of options exercised.

The accompanying notes to the Consolidated Financial Statements are an integral part of these statements.

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Unity Bancorp, Inc.

Consolidated Statements of Cash Flows

(Unaudited)


		For the three months ended March 31,
(In thousands)		2026			2025
OPERATING ACTIVITIES:
Net income		$	14,288		$	11,598
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses, loans			1,043			1,358
Net accretion of purchase premiums and discounts on securities			(80)			(16)
Depreciation and amortization			296			683
Deferred income tax benefit			(240)			(598)
Net security losses			82			49
Stock compensation expense			556			493
Origination of mortgage loans held for sale			(16,414)			7,869
Origination of SBA loans held for sale			(1,745)			2,859
Proceeds from sale of mortgage loans held for sale			16,914			(8,037)
Proceeds from sale of SBA loans held for sale			2,172			(2,998)
BOLI income			(217)			(151)
Net change in other assets and liabilities			(1,733)			4,745
Net cash provided by operating activities			14,922			17,854
INVESTING ACTIVITIES
Purchases of equity securities			(384)			(77)
Purchases of AFS securities			—			(4,000)
Redemption (purchase) of FHLB stock, at cost, net			325			(1,076)
Maturities, calls, and principal payments on HTM securities			—			364
Maturities, calls, and principal payments on AFS securities			7,242			6,304
Proceeds from sales on AFS securities			—			998
Proceeds from sales of equity securities			1,737			—
Net increase in loans			(56,014)			(85,000)
Purchases of premises and equipment			(425)			(279)
Net cash used in investing activities			(47,519)			(82,766)
FINANCING ACTIVITIES
Net increase in deposits			55,079			75,085
(Repayments of) proceeds from short-term borrowings, net			(7,500)			23,000
Repayments of long-term borrowings, net			—			(212)
(Shares withheld for taxes), net of proceeds from stock option exercises			(474)			(451)
Dividends on common stock			(1,543)			(1,355)
Purchase of treasury stock, including excise tax accrual			(324)			—
Net cash provided by financing activities			45,238			96,067
Increase in cash and cash equivalents			12,641			31,155
Cash and cash equivalents, beginning of year			216,519			180,438
Cash and cash equivalents, end of period		$	229,160		$	211,593
SUPPLEMENTAL DISCLOSURES
Cash:
Interest paid		$	14,285		$	13,104
Income taxes paid			88			96
Noncash activities:
Capitalization of servicing rights			131			41

The accompanying notes to the Consolidated Financial Statements are an integral part of these statements.

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Unity Bancorp, Inc.

Notes to the Consolidated Financial Statements (Unaudited)

March 31, 2026

NOTE 1. Significant Accounting Policies

The accompanying Consolidated Financial Statements include the accounts of Unity Bancorp, Inc. (the "Parent Company") and its wholly-owned subsidiary, Unity Bank (the "Bank" or when consolidated with the Parent Company, the "Company"). The Bank has multiple subsidiaries used to hold part of its investment and loan portfolios and may be used to hold other real estate owned when the Bank takes title to properties securing loans. All significant intercompany balances and transactions have been eliminated in consolidation. Certain reclassifications have been made to prior period amounts to conform to the current year presentation, with no impact on current earnings or shareholders’ equity. The financial information has been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and has not been audited. In preparing the financial statements, Management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and revenues and expenses during the reporting periods. Actual results could differ from those estimates. Amounts requiring the use of significant estimates include the allowance for credit losses. Management believes that the allowance for credit losses is adequate. While Management uses available information to recognize credit losses, future additions to the allowance for credit losses may be necessary based on changes in economic conditions, changes in customer-related circumstances, and the general credit quality of the loan portfolio.

The interim unaudited Consolidated Financial Statements included herein have been prepared in accordance with instructions for Form 10-Q and the rules and regulations of the Securities and Exchange Commission (“SEC”) and consist of normal recurring adjustments, that in the opinion of Management, are necessary for the fair presentation of interim results. The results of operations for the three months ended March 31, 2026 are not necessarily indicative of the results which may be expected for the entire year. As used in this Form 10-Q, “we” and “us” and “our” refer to Unity Bancorp, Inc., and its consolidated subsidiary, Unity Bank, depending on the context. Certain information and financial disclosures required by U.S. GAAP have been condensed or omitted from interim reporting pursuant to SEC rules. Interim financial statements should be read in conjunction with the Company’s Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. The Company continues to operate as a single reportable segment as described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

Risks and Uncertainties

Overall, the markets and customers serviced by the Company may be significantly impacted by ongoing macro-economic trends, such as pressures created by a lower interest rate environment, uncertainty surrounding tariffs and the impact of uncertain or changing political conditions and geopolitical conflicts, uncertainty surrounding potential for economic slowdown or recession, and uncertainty regarding the federal government’s debt limit or changes in fiscal, monetary, trade or regulatory policy. Additionally, the Company assesses the impact of inflation on an ongoing basis.

Market conditions and external factors may unpredictably impact the competitive landscape for deposits in the banking industry. Additionally, the current interest rate environment has increased competition for liquidity. The Company believes the sources of liquidity presented in the Unaudited Consolidated Financial Statements and the Notes to the Unaudited Consolidated Financial Statements are sufficient to meet its needs as of the balance sheet date.

An unexpected withdrawal of deposits could adversely impact the Company's ability to rely on organic deposits to primarily fund its operations, potentially requiring greater reliance on secondary sources of liquidity to meet withdrawal demands or to fund continuing operations. These sources may include proceeds from Federal Home Loan Bank (“FHLB”) advances, sales of securities and loans, federal funds lines of credit from correspondent banks, out-of-market time deposits and other wholesale funding sources.

Such reliance on secondary funding sources could increase the Company's overall cost of funding and thereby reduce net income. While the Company believes its current sources of liquidity are adequate to fund operations, there is no

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guarantee they will suffice to meet future liquidity demands. This may necessitate slowing or discontinuing loan growth, capital expenditures or other investments, or liquidating assets.

Recent Accounting Pronouncements

ASU 2024-03, “Disaggregation of Income Statement Expenses”, requires public entities to provide further disclosure surrounding expenses, including but not limited to, employee compensation, depreciation and intangible asset amortization. ASU 2025-01 clarified the effective date of ASU 2024-03. This ASU is effective for fiscal years beginning after December 31, 2026. The Company expects ASU 2024-03 to have no material impact to its financials.

ASU 2025-08, “Credit Losses: Purchased Loans”, expands the “gross-up” method to more types of purchased loans and reduce day-1 credit loss exposure volatility on purchased credit-deteriorated (“PCD”) assets. This ASU is effective for fiscal years beginning after December 31, 2026. The Company expects ASU 2025-08 to have no material impact to its financials.

ASU 2025-09, “Hedge Accounting Improvements”, aims to align hedge accounting with the economics of an entity’s risk management activities. This ASU is effective for fiscal years beginning after December 31, 2026. The Company expects ASU 2025-09 to have no material impact to its financials.

NOTE 2. Litigation

The Company may, in the ordinary course of business, become a party to litigation involving collection matters, contract claims and other legal proceedings relating to the conduct of its business. In the best judgment of Management, based upon consultation with counsel, the consolidated financial position and results of operations of the Company will not be affected materially by the final outcome of any pending legal proceedings or other contingent liabilities and commitments.

NOTE 3. Net Income per Share

Basic net income per common share is calculated as net income divided by the weighted average common shares outstanding during the reporting period. Common shares include vested and unvested restricted shares.

Diluted net income per common share is computed similarly to that of basic net income per common share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if all potentially dilutive common shares, principally stock options, were issued during the reporting period utilizing the treasury stock method.

The following is a reconciliation of the calculation of basic and diluted income per share:


		For the three months ended March 31,
(In thousands, except per share amounts)		2026			2025
Net income		$	14,288		$	11,598
Weighted average common shares outstanding - Basic			10,012			10,054
Plus: Potential dilutive common stock equivalents			187			193
Weighted average common shares outstanding - Diluted			10,199			10,247
Net income per common share - Basic		$	1.43		$	1.15
Net income per common share - Diluted			1.40			1.13
Stock options and common stock excluded from the income per share calculation as their effect would have been anti-dilutive			—			—

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NOTE 4. Other Comprehensive (Loss) Income

The following tables show the changes in other comprehensive (loss) income for the three months ended March 31, 2026 and 2025, net of tax:


	For the three months ended March 31, 2026
					Accumulated
	Net unrealized		Net unrealized		other
	losses		gains (losses) from		comprehensive
(In thousands)	on securities		cash flow hedges		loss
Balance, beginning of period	$	(1,215)	$	120	$	(1,095)
Other comprehensive (loss) income before reclassifications		(113)		46		(67)
Less: amounts reclassified from accumulated other comprehensive loss		—		(28)		(28)
Period change		(113)		74		(39)
Balance, end of period	$	(1,328)	$	194	$	(1,134)


	For the three months ended March 31, 2025

			Net unrealized		Accumulated
	Net unrealized		gains (losses)		other
	(losses) gains on		from cash flow		comprehensive
(In thousands)	securities		hedges		(loss) income
Balance, beginning of period	$	(2,653)	$	546	$	(2,107)
Other comprehensive income (loss) before reclassifications		517		(355)		162
Less: amounts reclassified from accumulated other comprehensive loss		—		(113)		(113)
Period change		517		(242)		275
Balance, end of period	$	(2,136)	$	304	$	(1,832)

NOTE 5. Fair Value

Fair Value Measurement

The Company follows Financial Accounting Standards Board (“FASB”) ASC Topic 820, “Fair Value Measurement and Disclosures,” which requires additional disclosures about the Company’s assets and liabilities that are measured at fair value. Fair value is the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. In determining fair value, the Company uses various methods including market, income and cost approaches. Based on these approaches, the Company often utilizes certain assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and/or the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated or generally unobservable inputs. The Company utilizes techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy ranks the quality and reliability of the information used to determine fair values. Financial assets and liabilities carried at fair value will be classified and disclosed as follows:

Level 1 Inputs

●

Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

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●

Generally, this includes debt and equity securities and derivative contracts that are traded in an active exchange market (i.e. New York Stock Exchange), as well as certain U.S. Treasury securities that are highly liquid and are actively traded in over-the-counter markets.

Level 2 Inputs

●

Quoted prices for similar assets or liabilities in active markets.

●

Quoted prices for identical or similar assets or liabilities in inactive markets.

●

Inputs other than quoted prices that are observable, either directly or indirectly, for the term of the asset or liability (i.e. interest rates, yield curves, credit risks, prepayment speeds or volatilities) or “market corroborated inputs.”

●

Generally, this includes U.S. Government and sponsored entity mortgage-backed securities, corporate debt securities and derivative contracts.

Level 3 Inputs

●

Prices or valuation techniques that require inputs that are both unobservable (i.e. supported by little or no market activity) and that are significant to the fair value of the assets or liabilities.

●

These assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.

Fair Value on a Recurring Basis

The following is a description of the valuation methodologies used for instruments measured at fair value on a recurring basis:

Debt Securities Available for Sale

As of March 31, 2026, the fair value of the Company’s AFS debt securities portfolio was $63.3 million. Most of the Company’s AFS debt securities were classified as Level 2 assets at March 31, 2026. The valuation of AFS debt securities using Level 2 inputs was primarily determined using the market approach, which uses quoted prices for similar assets or liabilities in active markets and all other relevant information. It includes third-party model pricing, defined as valuing securities based upon their relationship with other benchmark securities.

Included in the Company’s AFS debt securities are select corporate bonds which are classified as Level 3 assets at March 31, 2026. The valuation of these corporate bonds is determined using broker quotes, third-party vendor prices, or other valuation techniques. Market inputs used in the other valuation techniques or underlying third-party vendor prices or broker quotes include benchmark and government bond yield curves, credit spreads and trade execution data.

Equity Securities

As of March 31, 2026, the fair value of the Company’s equity securities portfolio was $15.3 million. All of the Company’s equity marketable securities were classified as Level 1 assets at March 31, 2026.

The following table presents a reconciliation of the Level 3 securities measured at fair value on a recurring basis for the the three months ended March 31, 2026 and 2025:


		For the three months ended
		March 31, 2026					March 31, 2025
(In thousands)		Corporate Debt		Restricted Stock		Corporate Debt		Restricted Stock
Balance of recurring Level 3 assets at January 1		$	6,708	$	3,480	$	6,488	$	—
Activity
Transfers from corporate debt to restricted stock			—		—		(818)		818

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Transfers from restricted stock to unrestricted equity securities categorized as Level 1		—		(3,480)		—		—
Unrealized holding (losses) gains included in other comprehensive income		(138)		—		95		—
Unrealized holding losses included in net income		(185)		—		—		—
Balance of recurring Level 3 assets at March 31	$	6,385	$	—	$	5,765	$	818

Interest Rate Swap Agreements

The Company’s derivative instruments are classified as Level 2 assets, as the readily observable market inputs to these models are validated to external sources, such as industry pricing services, or are corroborated through recent trades, dealer quotes, yield curves, implied volatility or other market-related data.

There were no material changes in the inputs or methodologies used to determine fair value during the period ended March 31, 2026, as compared to the periods ended December 31, 2025 and March 31, 2025.

The tables below present the balances of assets measured at fair value on a recurring basis as of March 31, 2026 and December 31, 2025:

Fair Value Measurements at March 31, 2026

Quoted Prices in

Assets

Active Markets

Significant Other

Significant

Measured at Fair

for Identical

Observable

Unobservable

(In thousands)

 

Value

 

Assets (Level 1)

 

Inputs (Level 2)

 

Inputs (Level 3)

Measured on a recurring basis:

Assets:

Debt securities available for sale:

U.S. Government sponsored entities

4,968

—

4,968

—

State and political subdivisions

150

—

150

—

Residential mortgage-backed securities

11,437

—

11,437

—

Asset backed securities

14,992

—

14,992

—

Corporate and other securities

31,754

—

25,369

6,385

Total debt securities available for sale

63,301

—

56,916

6,385

Equity securities, at fair value

15,319

—

Total equity securities

15,319

—

Interest rate swap agreements

259

—

259

—

Total swap agreements

259

—

259

—

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		Fair value Measurements at December 31, 2025
					Quoted Prices in
		Assets			Active Markets			Significant Other			Significant
		Measured at Fair			for Identical			Observable			Unobservable
(In thousands)		Value			Assets (Level 1)			Inputs (Level 2)			Inputs (Level 3)
Measured on a recurring basis:
Assets:
Debt securities available for sale:
U.S. Government sponsored entities		$	4,969		$	—		$	4,969		$	—
State and political subdivisions			159			—			159			—
Residential mortgage-backed securities			11,752			—			11,752			—
Asset backed securities			22,000			—			22,000			—
Corporate and other securities			31,990			—			25,282			6,708
Total debt securities available for sale		$	70,870		$	—		$	64,162		$	6,708

Equity securities, at fair value		$	16,569		$	13,089		$	—		$	3,480
Total equity securities		$	16,569		$	13,089		$	—		$	3,480

Interest rate swap agreements		$	157		$	—		$	157		$	—
Total swap agreements		$	157		$	—		$	157		$	—

There were no liabilities measured on a recurring basis as of March 31, 2026 or December 31, 2025.

Fair Value on a Nonrecurring Basis

The following tables present the assets and liabilities subject to fair value adjustments on a non-recurring basis carried on the balance sheet by caption and by level within the hierarchy (as described above):

Fair Value Measurements at December 31, 2025

Quoted Prices

Significant

in Active

Other

Significant

Assets

Markets for

Observable

Unobservable

Measured at Fair

Identical Assets

Inputs

(In thousands)

 

Value

 

(Level 1)

 

(Level 2)

 

(Level 3)

Measured on a non-recurring basis:

Financial assets:

Collateral-dependent loans

3,376

—

3,376

There were no assets or liabilities measured on a non-recurring basis as of March 31, 2026.

Certain assets and liabilities are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). The following is a description of the valuation methodologies used for instruments measured at fair value on a nonrecurring basis:

Collateral-Dependent Loans

Fair value is determined based on the fair value of the collateral and is measured for impairment based upon a third-party appraisal. When an updated appraisal is received for a nonperforming loan, the value on the appraisal may be discounted. If there is a deficiency in the value after the Company applies these discounts, Management applies a specific reserve and the loan remains in nonaccrual status. The receipt of an updated appraisal would not qualify as a reason to put a loan back into accruing status. The Company removes loans from nonaccrual status generally when the ability to collect is reasonably assured or when the loan is brought current as to principal and interest. Charge-offs are

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determined based upon the loss that Management believes the Company will incur after evaluating collateral for impairment based upon the valuation methods described above and the ability of the borrower to pay any deficiency.

The allowance for individually evaluated loans is included in the allowance for credit losses in the Consolidated Balance Sheets. At March 31, 2026, there was no allowance for individually evaluated loans, compared to $0.1 million at December 31, 2025.

Fair Value of Financial Instruments

FASB ASC Topic 825, “Financial Instruments,” requires the disclosure of the estimated fair value of certain financial instruments, including those financial instruments for which the Company did not elect the fair value option. These estimated fair values as of March 31, 2026 and December 31, 2025 have been determined using available market information and appropriate valuation methodologies. Considerable judgment is required to interpret market data to develop estimates of fair value. The estimates presented are not necessarily indicative of amounts the Company could realize in a current market exchange. The use of alternative market assumptions and estimation methodologies could have had a material effect on these estimates of fair value. The methodology for estimating the fair value of financial assets and liabilities that are measured on a recurring or nonrecurring basis is discussed above.

The following methods and assumptions were used to estimate the fair value of other financial instruments for which it is practicable to estimate that value:

Securities

The fair value of securities is based upon quoted market prices for similar or identical assets or other observable inputs (Level 2) or externally developed models that use unobservable inputs due to limited or no market activity of the instrument (Level 3).

Loans Held for Sale

The fair value of loans held for sale is estimated by using a market approach that includes significant other observable inputs.

Loans

The fair value of loans is estimated by discounting the future cash flows using current market rates that reflect the interest rate risk inherent in the loan, except for previously discussed loans.

Deposit Liabilities

The fair value of demand deposits and savings accounts is the amount payable on demand at the reporting date (i.e. carrying value). The fair value of fixed-maturity certificates of deposit is estimated by discounting the future cash flows using current market rates.

Borrowed Funds and Subordinated Debentures

The fair value of borrowings is estimated by discounting the projected future cash flows using current market rates.

The table below presents the carrying amount and estimated fair values of the Company’s financial instruments presented as of March 31, 2026 and December 31, 2025:

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	March 31, 2026
	Carrying
(In thousands)	amount			Level 1			Level 2			Level 3
Financial assets:
Debt securities held to maturity	$	36,648		$	—		$	30,373		$	—
Loans held for sale		12,557			—			13,471			—
Loans, net of allowance for credit losses		2,555,745			—			2,523,033			—
Financial liabilities:
Deposits		2,379,140			—			2,376,742			—
Borrowed funds and subordinated debentures		258,584			—			258,905			—


	December 31, 2025
	Carrying
(In thousands)	amount			Level 1			Level 2			Level 3
Financial assets:
Debt securities held to maturity	$	36,576		$	—		$	30,405		$	—
Loans held for sale		9,490			—			10,041			—
Loans, net of allowance for credit losses		2,502,881			—			2,466,691			3,376
Financial liabilities:
Deposits		2,324,061			—			2,322,637			—
Borrowed funds and subordinated debentures		266,084			—			266,769			—

Limitations

Fair value estimates are made at a point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

Fair value estimates are based on existing on- and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. In addition, the tax ramifications related to the effect of fair value estimates have not been considered in the above estimates.

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NOTE 6. Securities

This table provides the major components of debt securities available for sale ("AFS") and held to maturity (“HTM”) at amortized cost and estimated fair value at March 31, 2026 and December 31, 2025:

March 31, 2026

 

Gross

 

Gross

Amortized

unrealized

Estimated

(In thousands)

cost

gains

losses

fair value

Available for sale:

U.S. Government sponsored entities

5,000

—

(32)

4,968

State and political subdivisions

176

—

(26)

150

Residential mortgage-backed securities

12,467

(1,055)

11,437

Asset backed securities

15,000

(10)

14,992

Corporate and other securities

32,409

337

(992)

31,754

Total debt securities available for sale

65,052

364

(2,115)

63,301

Held to maturity:

U.S. Government sponsored entities

28,000

—

(3,803)

24,197

State and political subdivisions

1,316

—

1,352

Residential mortgage-backed securities

7,332

—

(2,508)

4,824

Total debt securities held to maturity

36,648

(6,311)

30,373


	December 31, 2025
				Gross			Gross
	Amortized			unrealized			unrealized			Estimated
(In thousands)	cost			gains			losses			fair value
Available for sale:
U.S. Government sponsored entities	$	5,000		$	—		$	(31)		$	4,969
State and political subdivisions		185			—			(26)			159
Residential mortgage-backed securities		12,702			27			(977)			11,752
Asset backed securities		22,001			11			(12)			22,000
Corporate and other securities		32,586			314			(910)			31,990
Total debt securities available for sale	$	72,474		$	352		$	(1,956)		$	70,870
Held to maturity:
U.S. Government sponsored entities	$	28,000		$	—		$	(3,812)		$	24,188
State and political subdivisions		1,299			42			—			1,341
Residential mortgage-backed securities		7,277			—			(2,401)			4,876
Total debt securities held to maturity	$	36,576		$	42		$	(6,213)		$	30,405

There was no provision for credit losses on securities for the the three months ended March 31, 2026 and March 31, 2025. During the three months ended March 31, 2026, Unity entered into a modification agreement with a borrower experiencing financial difficulty. Unity holds $2.0 million par of the original senior debt security. As a component of the modification agreement, the issuer deferred the interest payment due in Q1 2026 to June 2026. The agreement noted that the issuer will pay this interest plus what is accrued until payment, else the bond will be considered delinquent. As Management has plans to sell this bond in Q2 2026, the loss has been recognized through Net Securities Gains (Losses) in the Consolidated Statements of Income, as recovery through sale is expected.

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The contractual maturities of AFS and HTM debt securities at March 31, 2026 are set forth in the following table. Maturities may differ from contractual maturities in residential mortgage-backed securities because the mortgages underlying the securities may be prepaid without any penalties. Therefore, residential mortgage-backed securities are not included in the maturity categories in the following summary.



		Amortized		Fair
(In thousands)		Cost		Value
Available for sale:
Due in one year	$	4,000	$	3,978
Due after one year through five years		14,059		13,737
Due after five years through ten years		24,351		24,005
Due after ten years		10,175		10,144
Residential mortgage-backed securities		12,467		11,437
Total	$	65,052	$	63,301
Held to maturity:
Due in one year	$	—	$	—
Due after one year through five years		3,000		2,990
Due after five years through ten years		—		—
Due after ten years		26,316		22,559
Residential mortgage-backed securities		7,332		4,824
Total	$	36,648	$	30,373

Actual maturities of AFS and HTM debt securities may differ from those presented above since certain obligations provide the issuer the right to call or prepay the obligation prior to scheduled maturity without penalty.

The fair value of debt securities with unrealized losses by length of time that the individual securities have been in a continuous unrealized loss position at March 31, 2026 and December 31, 2025 are as follows:

March 31, 2026

Less than 12 months

12 months and greater

Total

 

Estimated

Unrealized

Estimated

Unrealized

Estimated

Unrealized

(In thousands)

fair value

loss

fair value

loss

fair value

loss

Available for sale:

U.S. Government sponsored entities

—

4,968

(32)

4,968

(32)

State and political subdivisions

—

150

(26)

150

(26)

Residential mortgage-backed securities

—

11,322

(1,055)

11,322

(1,055)

Asset backed securities

10,990

(10)

—

10,990

(10)

Corporate and other securities

2,462

(38)

9,477

(955)

11,939

(992)

Total temporarily impaired AFS securities

13,452

(48)

25,917

(2,068)

39,369

(2,115)

Held to maturity:

U.S. Government sponsored entities

—

20,197

(3,803)

20,197

(3,803)

Residential mortgage-backed securities

—

4,824

(2,508)

4,824

(2,508)

Total temporarily impaired HTM securities

—

25,021

(6,311)

25,021

(6,311)

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			December 31, 2025
			Less than 12 months						12 months and greater						Total

			Estimated			Unrealized			Estimated			Unrealized			Estimated			Unrealized
(In thousands)			fair value			loss			fair value			loss			fair value			loss
Available for sale:
U.S. Government sponsored entities			$	—		$	—		$	4,969		$	(31)		$	4,969		$	(31)
State and political subdivisions				—			—			159			(26)			159			(26)
Residential mortgage-backed securities				—			—			11,625			(977)			11,625			(977)
Asset backed securities				9,988			(12)			—			—			9,988			(12)
Corporate and other securities				2,483			(18)			9,681			(892)			12,164			(910)
Total temporarily impaired AFS securities			$	12,471		$	(30)		$	26,434		$	(1,926)		$	38,905		$	(1,956)
Held to maturity:
U.S. Government sponsored entities			$	—		$	—		$	24,188		$	(3,812)		$	24,188		$	(3,812)
Residential mortgage-backed securities				—			—			4,876			(2,401)			4,876			(2,401)
Total temporarily impaired HTM securities			$	—		$	—		$	29,064		$	(6,213)		$	29,064		$	(6,213)

Unrealized losses in each of the categories presented in the tables above were primarily driven by market interest rate fluctuations. Residential mortgage-backed securities are guaranteed by either Ginnie Mae, Freddie Mac or Fannie Mae.

The Company is using the practical expedient to exclude accrued interest receivable from credit loss measurement. At March 31, 2026, there was $1.2 million of accrued interest on securities. At December 31, 2025, there was $0.8 million of accrued interest on securities.

Securities with a carrying value of $69.0 million and $69.2 million at March 31, 2026 and December 31, 2025, respectively, were held at the FHLB or FRB and were pledged for borrowing purposes; however, there were no securities borrowed against at March 31, 2026 and December 31, 2025.

Realized Gains and Losses on Debt Securities

Net realized gains (losses) on debt securities are included in noninterest income in the Consolidated Statements of Income as net security gains (losses). There were no gains or losses on sales of AFS debt securities during the three months ended March 31, 2026 compared to a $3 thousand loss on AFS debt securities during the three months ended March 31, 2025. There were no realized gains or losses on HTM debt securities during the three months ended March 31, 2026 and 2025.

Equity Securities

Included in this category are Community Reinvestment Act ("CRA") investments and the Company’s current other equity holdings of financial institutions. Equity securities are defined to include (a) preferred, common and other ownership interests in entities including partnerships, joint ventures and limited liability companies and (b) rights to acquire or dispose of ownership interests in entities at fixed or determinable prices.

The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during the three months ended March 31, 2026 and 2025:


		For the three months ended March 31,
(In thousands)		2026			2025
Net unrealized losses occurring during the period on equity securities		$	(504)		$	(34)
Net gains (losses) recognized during the period on equity securities sold during the period			607			(12)
Gains (losses) recognized during the reporting period on equity securities		$	103		$	(46)

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NOTE 7. Loans

The following table sets forth the classification of loans by class, including unearned fees and deferred costs and excluding the allowance for credit losses as of March 31, 2026 and December 31, 2025:


(In thousands)		March 31, 2026			December 31, 2025
SBA loans held for investment			32,499			34,259
Commercial loans
SBA 504			43,254			43,802
Commercial & industrial			185,207			183,163
Commercial real estate²			1,330,705			1,291,067
Commercial real estate construction			159,200			147,215
Residential mortgage loans			668,739			677,221
Consumer loans
Home equity			82,980			82,488
Consumer other			2,634			2,731
Residential construction loans			83,881			73,277
Total loans held for investment		$	2,589,099		$	2,535,223
Loans held for sale¹			12,557			9,490
Total loans		$	2,601,656		$	2,544,713

¹Loans held for sale included SBA and residential mortgage loans of $8.2 million and $4.4 million as of March 31, 2026, respectively. Loans held for sale included SBA and residential mortgage loans of $8.0 million and $1.5 million as of December 31, 2025, respectively.

²Commercial real estate includes Commercial Mortgage – Owner Occupied, Commercial Mortgage – Nonowner Occupied and Commercial Mortgage – Other. Commercial Mortgage – Other primarily includes multifamily and land loans.

Loans are made to individuals and commercial entities. Specific loan terms vary as to interest rate, repayment and collateral requirements based on the type of loan requested and the credit worthiness of the prospective borrower. Credit risk tends to be geographically concentrated in that a majority of the loan customers are located in the markets serviced by the Bank, most notably in New Jersey. Additionally, the New Jersey credit concentration is primarily focused within the counties that the Company operates in. Loan performance may be adversely affected by factors impacting the general economy or conditions specific to the real estate market such as geographic location and/or property type. A description of the Company’s different loan segments follows:

SBA Loans: SBA 7(a) loans, on which the SBA has historically provided guarantees of up to 90 percent of the principal balance, are considered a higher risk loan product for the Company than its other loan products. The guaranteed portion of the Company’s SBA loans is generally sold in the secondary market with the nonguaranteed portion held in the portfolio as a loan held for investment. SBA loans are for the purpose of providing working capital, business acquisitions, financing the purchase of equipment, inventory or commercial real estate and for other business purposes. Loans are guaranteed by the businesses’ major owners. SBA loans are made based primarily on the historical and projected cash flow of the business and secondarily on the underlying collateral provided.

Loans held for sale includes the guaranteed portion of SBA loans and are reflected at the lower of aggregate cost or market value. When sales of SBA loans do occur, the premium received on the sale and the present value of future cash flows of the servicing assets are recognized in income. All criteria for sale accounting must be met in order for the loan sales to occur.

Servicing assets represent the estimated fair value of retained servicing rights, net of servicing costs, at the time loans are sold. Servicing assets are amortized in proportion to, and over the period of, estimated net servicing revenues. Impairment is evaluated based on stratifying the underlying financial assets by date of origination and term. Fair value is

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determined using prices for similar assets with similar characteristics, when available, or based upon discounted cash flows using market-based assumptions.

Serviced loans sold to others are not included in the accompanying Consolidated Balance Sheets. Income and fees collected for loan servicing are credited to noninterest income when earned, net of amortization on the related servicing assets, in the accompanying Consolidated Statements of Income.

Commercial Loans: Commercial credit is extended primarily to middle market and small business customers. Commercial loans are generally made in the Company’s marketplace for the purpose of providing working capital, financing the purchase of equipment, inventory or commercial real estate and for other business purposes. The SBA 504 program consists of real estate backed commercial mortgages where the Company has the first mortgage and the SBA has the second mortgage on the property. Loans will generally be guaranteed in full or for a meaningful amount by the businesses’ major owners. Commercial loans are made based primarily on the historical and projected cash flow of the business and secondarily on the underlying collateral provided.

Residential Mortgage, Consumer and Residential Construction Loans: The Company originates mortgage and consumer loans including principally residential real estate and home equity lines and loans and residential construction lines. The Company originates qualified mortgages which are generally sold in the secondary market and nonqualified mortgages which are generally held for investment. Each loan type is evaluated on debt to income, type of collateral, loan to collateral value, credit history and Company relationship with the borrower.

Loans held for sale includes a portion of residential mortgage loans and are reflected at the lower of aggregate cost or market value. When sales of residential mortgage loans do occur, the premium received on the sale and the present value of future cash flows of the servicing assets are recognized in income. All criteria for sale accounting must be met in order for the loan sales to occur.

Inherent in the lending function is credit risk, which is the possibility a borrower may not perform in accordance with the contractual terms of their loan. A borrower’s inability to pay their obligations according to the contractual terms can create the risk of past due loans and, ultimately, credit losses, especially on collateral deficient loans. The Company minimizes its credit risk by loan diversification and adhering to credit administration policies and procedures. Due diligence on loans begins when the Company initiates contact regarding a loan with a borrower. Documentation, including a borrower’s credit history, materials establishing the value and liquidity of potential collateral, the purpose of the loan, the source of funds for repayment of the loan and other factors, are analyzed before a loan is submitted for approval. The commercial loan portfolio is then subject to on-going internal reviews for credit quality which in part is derived from ongoing collection and review of borrowers’ financial information, as well as, independent credit reviews performed by an independent external firm.

The Company’s extension of credit is governed by the Loan Policy which was established to control the quality of the Company’s loans. This policy and the underlying procedures are reviewed and approved by the Board of Directors on a regular basis.

Credit Ratings

The Company places all SBA, commercial and residential construction loans into various credit risk rating categories based on an assessment of the expected ability of the borrowers to properly service their debt. The assessment considers numerous factors including, but not limited to, current financial information on the borrower, historical payment experience, strength of any guarantor, nature of and value of any collateral, acceptability of the loan structure and documentation, relevant public information and current economic trends. The credit risk rating is evaluated at the time of loan approval and subsequently during the annual reviews, in accordance with the guidelines set forth in the Loan Policy.

The Company uses the following regulatory definitions for criticized and classified risk ratings:

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Pass: Risk ratings of 1 through 6 are used for loans that are performing, as they meet, and are expected to continue to meet, all of the terms and conditions set forth in the original loan documentation, and are generally current on principal and interest payments. These performing loans are termed “Pass”.

Special Mention: These loans have a potential weakness that deserves Management’s close attention. If left uncorrected, the potential weaknesses may result in deterioration of the repayment prospects for the loans or of the institution’s credit position at some future date.

Substandard: These loans are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans classified as Substandard have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

Doubtful: These loans have all the weaknesses inherent in those classified as Substandard, with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable, based on currently existing facts, conditions and values. Once a borrower is deemed incapable of repayment of unsecured debt, the loan is termed a “Loss” and charged off immediately, subject to government guarantee.

Loss: These loans are considered uncollectible and hold minute value that their continuance as bankable loans is no longer warranted. This classification does not imply zero possible recovery or salvage value; rather, it is neither practical nor desirable to postpone writing off the asset despite some partial recovery occurring later.

For residential mortgage and consumer loans, Management uses performing versus nonperforming as the best indicator of credit quality. Nonperforming loans consist of loans that are not accruing interest (nonaccrual loans) as a result of principal or interest being in default for a period of 90 days or more or when the ability to collect principal and interest according to the contractual terms is in doubt. These credit quality indicators are updated on an ongoing basis, as a loan is placed on nonaccrual status as soon as Management believes there is sufficient doubt as to the ultimate ability to collect interest on a loan.

Nonaccrual and Past Due Loans

Nonaccrual loans consist of loans that are not accruing interest as a result of principal or interest being in default, typically for a period of 90 days or more or when the ability to collect principal and interest according to the contractual terms is in doubt. When a loan is classified as nonaccrual, interest accruals are discontinued and all past due interest previously recognized as income is reversed and charged against current period earnings. Generally, until the loan becomes current, any payments received from the borrower are applied to outstanding principal until such time as Management determines that the financial condition of the borrower and other factors merit recognition of a portion of such payments as interest income. Loans may be returned to an accrual status when the ability to collect is reasonably assured and when the loan is brought current as to principal and interest. The risk of loss is difficult to quantify and is subject to fluctuations in collateral values, general economic conditions and other factors. The Company values its collateral through the use of appraisals, broker price opinions and knowledge of its local market.

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The following tables set forth an aging analysis of past due and nonaccrual loans as of March 31, 2026 and December 31, 2025:

March 31, 2026

 

90+ days

 

30‑59 days

60‑89 days

and still

Total past

(In thousands)

past due

accruing

Nonaccrual

due

Current

Total loans

SBA loans held for investment

949

—

1,645

2,684

29,815

32,499

Commercial loans

SBA 504

—

43,254

Commercial & industrial

—

803

—

1,205

2,008

183,199

185,207

Commercial real estate

4,860

321

—

17,170

22,351

1,308,354

1,330,705

Commercial real estate construction

—

159,200

Residential mortgage loans

9,133

6,030

—

8,915

24,078

644,661

668,739

Consumer loans

Home equity

415

1,958

—

1,557

3,930

79,050

82,980

Consumer other

—

2,634

Residential construc

UNITY BANCORP INC /NJ/ 10-Q