-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FmsldsCEdk9ZS0tAoOoQbo5Opp69rB3EqoF2SF723G0iLkKyeeNrHgyoB9JV3HYL Q5WYUsOW47PB32LFwGduEg== 0000950110-98-000092.txt : 19980128 0000950110-98-000092.hdr.sgml : 19980128 ACCESSION NUMBER: 0000950110-98-000092 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980120 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980127 SROS: AMEX FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNITY BANCORP INC /DE/ CENTRAL INDEX KEY: 0000920427 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 223282551 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-12431 FILM NUMBER: 98513908 BUSINESS ADDRESS: STREET 1: 64 OLD HIGHWAY 22 CITY: CLINTON STATE: NJ ZIP: 08809 BUSINESS PHONE: 9087307630 MAIL ADDRESS: STREET 1: 64 OLD HIGHWAY 22 CITY: CLINTON STATE: NJ ZIP: 08809 8-K 1 FORM 8-K =============================================================================== SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 -------- FORM 8-K -------- CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) January 20, 1998 ---------------- UNITY BANCORP, INC. ------------------------------------------------------ (Exact name of registrant as specified in its charter) DELAWARE 1-12431 22-3282551 - ---------------------------- ------------ ------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 64 OLD HIGHWAY 22, CLINTON, NEW JERSEY 08809 ---------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (908) 730-7630 -------------- =============================================================================== Item 5. Other. ------ The Registrant issued a press release on January 20, 1998 announcing its preliminary year end 1997 and fourth quarter 1997 results. Item 7. Exhibits. --------- The following exhibit is filed with this Current Report on Form 8-K Exhibit No. Description ----------- ----------- 99(a) Press Release dated January 20, 1998 Page 2 of 5 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, Unity Bancorp, Inc. has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. UNITY BANCORP, INC. ------------------------------- (Registrant) Dated: January 20, 1998 By: /s/ JULIE Y. CARLSON --------------------------- Julie Y. Carlson Chief Financial Officer Page 3 of 5 EXHIBIT INDEX CURRENT REPORT ON FORM 8-K Exhibit No. Description Page No. ----------- ----------- -------- 99 Press Release dated January 20, 1998 Page 4 of 5 EX-99 2 PRESS RELEASE DATED JANUARY 20, 1998 CLINTON, NEW JERSEY, JANUARY 20, 1998 ... UNITY BANCORP, INC. (AMEX:UBI, UBI:WS), parent company of FIRST COMMUNITY BANK reported record earnings on an unaudited basis of $2 million for the fiscal year ended December 31, 1997, a 93% increase over the $1 million reported for 1996. The record earnings resulted in basic earnings per share of $1.02 for the fiscal year 1997, a 38% increase over the $.74 earnings per share reported for fiscal 1996. Diluted earnings per share, as calculated by FASB 128 which includes unexercised warrants and stock options, was $1.01 per share in 1997 compared to $.73 in 1996. Additionally, UNITY BANCORP, INC. reported record fourth quarter 1997 earnings of $780 thousand, an 88% increase over the $415 thousand reported for the same period of 1996. As a result the earnings per share for the fourth quarter of 1997 are $.39, a 55% increase over the $.25 reported for the same period in 1996. Total assets at year end 1997 were up 24% to $214 million from the 1996 total of $173 million. During the same period total depots grew 25% to $192 million from $154 million and net loans increased 37% to $133 million from $97 million. Total equity at year end 1997 had grown to $20 million from the $18 million reported December 31, 1996, representing an 11% increase. Mr. Robert J. Van Volkenburgh, Chairman of the Board and Chief Executive Officer, stated, "The record results reported for the fiscal year 1997 and fourth quarter are the direct result of our business plan which is to provide quality personal financial service to our customers. The three new branches opened over the last eighteen months are now providing deposit, loan and earnings growth, as anticipated. We believe that providing excellent community banking service to all our customers and communities, differentiates UNITY BANCORP, INC. from the large regional and national banks that have proliferated throughout New Jersey." UNITY BANCORP, INC. and FIRST COMMUNITY BANK President John F. Tremblay noted, "UNITY's continued strong asset and profit growth in 1997 represents the strength of its community bank service philosophy. First Community Bank's excellent commercial lending staff including its' SBA guarantee loan program and accounts receivable financing product for small companies, provide a combination of products and service that the larger our-of-state banks cannot match. The expansion of the consumer lending function, including the residential mortgage division in 1997 contributed significantly to our increased profitability." UNITY BANCORP, INC.'s subsidiary, First Community Bank, is a community oriented full service commercial bank, providing a wide range of business and consumer financial services through its main office in Clinton, New Jersey and its six branches located in Flemington, Linden, North Plainfield, Scotch Plains, Springfield and Union, New Jersey. Page 5 of 5 -----END PRIVACY-ENHANCED MESSAGE-----