Unity Bancorp, Inc. · NASDAQ:UNTY
Unity Bancorp — Shareholder Meeting (April 2024)
13 slides from Unity Bancorp's shareholder meeting presentation, Apr 25, 2024
Slide 1: Unity Bancorp 2024 Shareholders' Meeting
@ Unity BANcorRP 2024 Shareholders’ Meeting April 25, 2024
Slide 2: 1st Quarter Results
1*t Quarter Results ‘Net income Net income (in thousands) $ 9.586 $ 9,770 Net income per common share - Diluted 0.93 0.96 Operating Ratios Return on average assets 158 % 159 % Return on average equity 14.49 15.12 Efficiency ratio 47.57 43.06 Net interest margin 4.09 4.06
Slide 3: Inverted Yield Curve
Inverted Yield Curve Y Prime Rate 3.25% 7.50% 8.50% Sy US T-Note 1.26% 3.99% 3.84% 10y US T-Note 1.52% 3.88% 3.88% Effective Fed Funds 0.07% 4.33% 5.33%
Slide 4: Unity Bank's Attractive Footprint
Unity Bank’s Attractive Footprint Unity Bank Locations New Jersey Bergen County: Somerset County: nerson, NI 12) North Plainfield, NI 15) Somerset, NI 14) Somerville, NI Hunterdon County: 3) Clinton, NI 4) Flemington, NJ 5) Whitehouse Station, NJ Middlesex County: 6) Edison, NJ 7) Highland Park, NI
Slide 5: Loan and Deposit Growth
Loan and Deposit Growth (dollars in millions) $1,924 $2,107 $2172 $1,788 2022 2023 2022 2023 =Total Loans Total Deposits « Total Loans — 3.1% increase + Total Deposits — 7.6% increase + 7.6% increase in commercial loans + 57.5% increase in time deposits ‘+ 4.4% increase in residential mortgage loans
Slide 6: Asset Quality Remains Strong
Asset Quality Remains Strong Loan Loss Reserves/Gross Loans (%) ‘Nonperforming Assets/T otal Assets (%) 074 1.20 0.66 ost Las m2 203 mq 22 3 aq 0.08 m2 2003 24a 1) Value shown for Ql 2024 Net Charge-Offs/Avg Loans is annu
Slide 7: Summary Income Statement
Summary Income Statement (dollars in thousands) 2023 2022 % Change ‘Net Interest Income $ 94,997 $ 90,108 54 % Provision for Credit Losses (-) 3,168 4.274 (25.9) ‘Noninterest Income (+) 8,142 8,045 12 ‘Noninterest Expense (-) 46,976 42,458 10.6 Provision for Income Taxes (-) 13,288 12,964 25 ‘Net In
Slide 8: Net Interest Margin
$100 $80 $60 $40 $20 Net Interest Margin (dollars in millions) 4.37% 2019 2020 2021 2022 2023 \GamiNet Interest Income =titeNet Interest Margin 4.50% 4.00% 3.50% 3.00% 2.50% 2.00% 1.50% 1.00%
Slide 9: Noninterest Income
Noninterest Income (dollars in thousands) Branch fee income 8 997 |$ 1,117 (10.7) % Service and loan fee income 1,928 2,433 (20.8) ain on sale of SBA loans held for sale, net 1,299 954 36.2 ain on sale of mortgage loans, net 1,546 1,399 10.5 BOLI income 852 636 34.0 Net security gains (losses) 7 (1,
Slide 10: Noninterest Expense
Noninterest Expense Zn (dollars in thousands) y 2023 2022 % Change ‘ompensation and benefits S$ 29,051 |$ 26,949 78% Processing and communications 2,994 2,848 5.1 Occupancy 3,087 2,963 4.2 [Furniture and equipment 2,780 2,493 11.5 Professional services 1,563 1,401 11.6 Advertising 1,436 1,212 18.5 L
Slide 11: Book Value Growth
Book Value Growth $29.59 $26.25 $27.60 2019 2020 2021 2022 SeBook Value Per Share =u=Stock Price 2023 2024Q1
Slide 12: Unity's Strategy & Vision
Unity’s Strategy & Vision y Diversified Business Model (4) Balance Sheet Protection & Strong Yields Experienced & Proven Management Team High Levels of Management & Board Stock Ownership (+) Best In Class Financial Performance
Slide 13: Slide 13