Unity Bancorp Q3 EPS Edges Up, Above Estimates

(RTTNews) - Unity Bancorp, Inc. (UNTY) Friday reported a profit of $9.95 million or $0.97 per share for the third quarter, relatively flat with $9.94 million or $0.93 per share in the same quarter a year ago. Earnings surpassed the Street estimates.

Analysts on average, polled by Thomson-Reuters expected the company to report earnings of $0.89 per share. Analysts' estimates typically exclude special items.

Net interest income for the quarter was $23.53 million compared with $23.74 million last year.

Provision for credit losses decreased to $534000 from $1.52 million in the previous year.