UNITY BANCORP INC /NJ/
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 5, 2026
UNTY$57.22-1.0%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-06-30; filed 2026-08-06.
0000920427-26-000045
ITEM 2 Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-09-30; filed 2026-11-05.
0001193125-26-449711
ITEM 2 Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 129 previous paragraphs and 132 current paragraphs.
54 unchanged; 68 reworded; 9 added; 7 removed; 0 previous and 1 current paragraphs rearranged.
Tables are not compared: 10 previous and 10 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (9)
Current report
Noninterest income decreased 20.5 percent compared to the prior year’s quarter, primarily due to a decrease in the gain on sale of mortgage loans and an increase in net security losses.
Current report
Noninterest expense increased 16.3 percent compared to the prior year’s quarter, primarily due to an increase in compensation and benefits relating to a one-time pre-tax expense caused by an amendment to the Unity Bancorp Inc. Supplemental Executive Retirement Plan previously disclosed in our Form 8-K filed on September 23, 2026, complemented by an increase in loan related expenses. The increase in loan expenses was primarily driven by a
Current report
$405 thousand probable broker fee expense in connection with the transfer of a $15.5 million commercial real estate relationship.
Current report
$15.0 million in purchases;
Current report
Also partially offset by $0.4 million and $0.2 million unrealized losses recognized in other comprehensive income and recognized through earnings, respectively;
Current report
$0.2 million in net accretion
Current report
$2.9 million in sales;
Current report
$1.8 million in unrealized losses;
Current report
During the fourth quarter of 2025, a well secured $15.5 million commercial real estate relationship migrated to nonaccrual status. During the three months ended September 30, 2026, the Company entered into a transaction involving this loan relationship and provided financing to the counterparty for approximately 80% of the transaction amount. As a result of the transaction and the $3.1 million of cash received, the Company reduced its reported nonaccrual loans by $3.1 million. This isolated relationship accounts for nearly half of nonaccrual assets.
Removed paragraphs (7)
Previous report
Noninterest income decreased 67.0 percent compared to the prior year’s quarter, primarily because the quarter ended June 30, 2025 included $3.5 million in one-time realized gains from the sale of Patriot National Bancorp, Inc. common stock.
Previous report
Noninterest expense increased 7.0 percent compared to the prior year’s quarter, primarily due to increases in compensation and benefits and processing and communications.
Previous report
$0.2 million in unrealized losses recognized through earnings;
Previous report
Partially offset by $6.0 million in purchases
Previous report
$0.1 million in net accretion
Previous report
$2.2 million in sales;
Previous report
$1.3 million in unrealized losses;
Reworded paragraphs (68)
Previous wording
The following discussion and analysis of financial condition and results of operations should be read in conjunction with the 2025 consolidated audited financial statements and notes thereto included in our Annual Report on Form 10‑K for the year ended December 31, 2025. When necessary, reclassifications have been made to prior period data throughout the following discussion and analysis for purposes of comparability. This Quarterly Report on Form 10‑Q contains certain “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which may be identified by the use of such words as “believe”, “expect”, “anticipate”, “should”, “planned”, “estimated” and “potential”. Examples of forward looking statements include, but are not limited to, estimates with respect to the financial condition, results of operations and business of Unity Bancorp, Inc. that are subject to various factors which could cause actual results to differ materially from these estimates. These factors include, in addition to those items contained in the Company’s Annual Report on Form 10‑K under Item IA-Risk Factors, as updated by our subsequent filings with the Securities and Exchange Commission, the following: changes in general, economic and market conditions, including the impact of inflation, tariffs, legislative and regulatory conditions and the development of an interest rate environment that adversely affects Unity Bancorp, Inc.’s interest rate spread or other income anticipated from operations and investments and the impact of health or other emergencies on our employees, operations and customers.
Current wording
The following discussion and analysis of financial condition and results of operations should be read in conjunction with the 2025 consolidated audited financial statements and notes thereto included in our Annual Report on Form 10‑K for the year ended December 31, 2025. When necessary, reclassifications have been made to prior period data throughout the following discussion and analysis for purposes of comparability. This Quarterly Report on Form 10‑Q contains certain “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which may be identified by the use of such words as “believe”, “expect”, “anticipate”, “should”, “planned”, “estimated” and “potential”. Examples of forward looking statements include, but are not limited to, estimates with respect to the financial condition, results of operations and business of Unity Bancorp, Inc. that are subject to various factors which could cause actual results to differ materially from these estimates. These factors include, in addition to those items contained in the Company’s Annual Report on Form 10‑K under Item IA-Risk Factors, as updated by our subsequent filings with the Securities and Exchange Commission, the following: caused by general, economic and market conditions, including the impact of inflation, tariffs, legislative and regulatory conditions and the development of an interest rate environment that adversely affects Unity Bancorp, Inc.’s interest rate spread or other income anticipated from operations and investments, the adverse effect to our region caused by military conflicts around the world, the impact of any future federal government shutdowns and the impact of health or other emergencies on our employees, operations and customers.
Previous wording
Net income totaled $14.5 million, or $1.42 per diluted share for the three months ended June 30, 2026, compared to $16.5 million, or $1.61 per diluted share for the same period in 2025. Return on average assets and return on average common equity for the quarter were 2.01 percent and 15.86 percent, respectively, compared to 2.51 percent and 21.15 percent for the same period in 2025.
Current wording
Net income totaled $17.4 million, or $1.70 per diluted share for the three months ended September 30, 2026, compared to $14.4 million, or $1.41 per diluted share for the same period in 2025. Return on average assets and return on average common equity for the quarter were 2.29 percent and 18.11 percent on an annualized basis, respectively, compared to 2.11 percent and 17.41 percent for the same period in 2025.
Previous wording
Net interest income increased 11.5 percent compared to the prior year’s quarter, primarily due to the increased volume on loans and decreased cost of time deposits and decreased volume on borrowed funds and subordinated debentures, partially offset by increases in the volume of interest-bearing deposits.
Current wording
Net interest income increased 14.9 percent compared to the prior year’s quarter, primarily due to the increased rate and volume on loans as a result of strong loan originations and the repricing of existing loans, complemented by increased volume on interest-bearing deposits and decreased volume on borrowed funds and subordinated debentures, partially offset by increases in the volume of interest-bearing deposits.
Previous wording
Net interest margin equaled 4.56 percent this quarter compared to 4.49 percent in the prior year’s quarter. The increase was primarily due to the increased yield on FHLB stock complemented by decrease in cost of interest-bearing liabilities.
Current wording
Net interest margin equaled 4.67 percent this quarter compared to 4.54 percent in the prior year’s quarter. The increase was primarily due to the increased yield on interest-earning assets, complemented by a decrease in the cost of interest-bearing liabilities.
Previous wording
The provision for credit losses on loans and off-balance sheet items was $1.2 million for the three months ended June 30, 2026, compared to $1.9 million in provision for credit losses on loans and off-balance sheet items for the prior year’s quarter. The decrease was primarily due to qualitative adjustments.
Current wording
The provision for credit losses on loans and off-balance sheet items was $1.0 million for the three months ended September 30, 2026, compared to $1.3 million in the provision for credit losses on loans and off-balance sheet items for the prior year’s quarter. The decrease was primarily due to qualitative adjustments.
Previous wording
The effective tax rate was 22.4 percent compared to 23.4 percent in the prior year’s quarter.
Current wording
The effective tax rate was 13.1 percent compared to 23.7 percent in the prior year’s quarter.
Previous wording
The Company’s performance ratios may be found in the table below.
Current wording
The Company’s net income per share and performance ratios may be found in the table below.
Previous wording
The primary source of the Company’s operating income is net interest income, which is the difference between interest and dividends earned on interest-earning assets and fees earned on loans and interest paid on interest-bearing liabilities. Interest-earning assets include loans to individuals and businesses, investment securities and interest-earning deposits. Interest-bearing liabilities include interest-bearing demand, savings, brokered and time deposits, FHLB advances and other borrowings.
Current wording
The primary source of the Company’s operating income is net interest income, which is the difference between interest and dividends earned on interest-earning assets plus fees earned on loans, and interest paid on interest-bearing liabilities. Interest-earning assets include loans to individuals and businesses, investment securities and interest-earning deposits. Interest-bearing liabilities include interest-bearing demand, savings, brokered and time deposits, FHLB advances and other borrowings.
Previous wording
During the three months ended June 30, 2026, tax-equivalent net interest income amounted to $31.8 million, an increase of $3.3 million or 11.5 percent when compared to the same period in 2025. The net interest margin increased 7 basis points to 4.56 percent for the three months ended June 30, 2026, compared to 4.49 percent for the same period in 2025.
Current wording
During the three months ended September 30, 2026, tax-equivalent net interest income amounted to $34.3 million, an increase of $4.4 million or 14.9 percent when compared to the same period in 2025. The net interest margin increased 13 basis points to 4.67 percent for the three months ended September 30, 2026, compared to 4.54 percent for the same period in 2025.
Previous wording
During the three months ended June 30, 2026, tax-equivalent interest income was $46.6 million, an increase of $4.0 million or 9.5% when compared to the same period in 2025. The increase was mainly driven by increases in balance of loans, partially offset by a decrease in yield on loans.
Current wording
During the three months ended September 30, 2026, tax-equivalent interest income was $50.0 million, an increase of $5.6 million or 12.7% when compared to the same period in 2025. The increase was mainly driven by increases in the balance and yield on loans.
Previous wording
Of the $4.0 million increase in interest income on a tax-equivalent basis, $4.5 million is due to an increase in volume of interest earning assets, partially offset by a decrease of $0.5 million due to decreases in yield on interest earning assets
Current wording
Of the $5.6 million increase in interest income on a tax-equivalent basis, $5.4 million is due to an increase in the volume of interest earning assets and $0.2 million is due to an increase in the yield on interest earning assets.
Previous wording
The average volume of interest-earning assets increased $248.7 million to $2.8 billion for the second quarter of 2026 compared to $2.6 billion in 2025. This was due primarily to a $265.2 million increase in average loans and $5.4 million increase in interest-bearing deposits, partially offset by $21.3 million and $0.6 million in securities and FHLB stock, respectively.
Current wording
The average volume of interest-earning assets increased $302.1 million to $2.9 billion for the third quarter of 2026 compared to $2.6 billion in 2025. This was due primarily to a $294.6 million increase in average loans and a $26.3 million increase in interest-bearing deposits, partially offset by decreases of $17.8 million and $1.0 million in securities and FHLB stock, respectively.
Previous wording
The yield on total interest-earning assets decreased 2 basis points to 6.68 percent for the three months ended June 30, 2026, when compared to the same period in 2025.The yield on the loan portfolio decreased 2 basis points to 6.73 percent.
Current wording
The yield on total interest-earning assets increased 7 basis points to 6.81 percent for the three months ended September 30, 2026, when compared to the same period in 2025.The yield on the loan portfolio increased 10 basis points to 6.88 percent.
Previous wording
Total interest expense was $14.8 million for the three months ended June 30, 2026, an increase of $0.8 million or 5.4 percent when compared to the same period in 2025. The increase was driven by an increase in volume of interest-bearing deposits, partially offset by a decrease in yield on interest-bearing deposits and volume of borrowed funds.
Current wording
Total interest expense was $15.7 million for the three months ended September 30, 2026, an increase of $1.2 million or 8.2 percent when compared to the same period in 2025. The increase was driven by an increase in the volume of interest-bearing deposits, partially offset by decreases in the average rate on interest-bearing deposits and the volume of borrowed funds.
Previous wording
The $0.8 increase in interest expense resulted from a $1.4 million increase in volume of average interest-bearing deposits, partially offset by a $0.4 million and $0.2 million decrease in rate paid on interest-bearing deposits and volume of borrowed funds, respectively.
Current wording
Of the $1.2 million increase in interest expense, $1.8 million resulted from increases in the volume of average interest-bearing deposits, partially offset by a $0.3 million and $0.3 million decrease in the rate paid on interest-bearing deposits and the volume of borrowed funds, respectively.
Previous wording
The average cost of interest-bearing liabilities decreased 13 basis points to 2.92 percent for the three months ended June 30, 2026 compared to 2025. The cost of interest-bearing deposits decreased 12 basis points to 2.88 percent.
Current wording
The average cost of interest-bearing liabilities decreased 10 basis points to 2.95 percent for the three months ended September 30, 2026 compared to 2025. The average cost of interest-bearing deposits decreased 10 basis points to 2.91 percent.
Previous wording
Interest-bearing liabilities averaged $2.0 billion during the three months ended June 30, 2026, an increase of $182.0 million compared to the same period in 2025. The increase in interest-bearing liabilities was primarily due to an increase in savings deposits, brokered deposits, interest-bearing demand deposits and time deposits, partially offset by a decrease in borrowed funds.
Current wording
Interest-bearing liabilities averaged $2.1 billion during the three months ended September 30, 2026, an increase of $222.4 million compared to the same period in 2025. The increase in interest-bearing liabilities was primarily due to an increase in savings deposits, interest-bearing demand deposits, time deposits and brokered deposits, partially offset by a decrease in borrowed funds.
Previous wording
During the six months ended June 30, 2026, tax-equivalent interest income was $91.8 million, an increase of $8.4 million or 10.1 percent when compared to the same period in 2025. This increase was mainly driven by increases in the average balance of loans offset by a decrease in average balance of securities and yield on loans and securities.
Current wording
During the nine months ended September 30, 2026, tax-equivalent interest income was $141.8 million, an increase of $14.0 million or 11.0 percent when compared to the same period in 2025. This increase was mainly driven by increases in the average balance of loans and yield on loans, offset by decreases in the average balance of securities and the yield on securities.
Previous wording
Of the $8.4 million increase in interest income on a tax-equivalent basis, $8.9 million was due to the increased average volume of interest-earning assets, offset by $0.5 million due to decreased rate on interest earning assets.
Current wording
The $14.0 million increase in interest income on a tax-equivalent basis was due to a $14.3 million increase in the average volume of interest-earning assets, offset by $0.3 million due to decreased rate on interest earning assets.
Previous wording
The average volume of interest-earning assets increased $261.9 million to $2.8 billion for the second quarter of 2026 compared to $2.5 billion in 2025. This was due primarily to a $267.0 million increase in average loans and $18.2 million increase in interest-bearing deposits. The increase was offset by a $22.9 and $0.4 million decrease in average investments and FHLB stock respectively.
Current wording
The average volume of interest-earning assets increased $275.5 million to $2.8 billion for the nine months ended September 30, 2026 compared to $2.5 billion in 2025. This was due primarily to a $276.3 million increase in average loans and a $21.0 million increase in interest-bearing deposits. The increase was offset by a $21.2 and $0.6 million decrease in average investments and FHLB stock, respectively.
Previous wording
The yield on total interest-earning assets decreased 2 basis points to 6.67 percent for the six months ended June 30, 2026, when compared to the same period in 2025. The yield on the loan portfolio decreased 1 basis point to 6.72 percent.
Current wording
The yield on total interest-earning assets increased 1 basis point to 6.72 percent for the nine months ended September 30, 2026, when compared to the same period in 2025. The yield on the loan portfolio increased 3 basis points to 6.78 percent.
Previous wording
Total interest expense was $29.3 million for the six months ended June 30, 2026, an increase of $1.7 million or 6.0 percent compared to the same period in 2025. This increase was driven by the increased average volume of interest-bearing deposits, partially offset by decreased cost of time deposits and volume of borrowed funds.
Current wording
Total interest expense was $45.0 million for the nine months ended September 30, 2026, an increase of $2.9 million or 6.8 percent compared to the same period in 2025. This increase was driven by the increased average volume of interest-bearing deposits, partially offset by decreased cost of time deposits and volume of borrowed funds.
Previous wording
The $1.7 million increase in interest expense resulted from an increase of $2.9 million in the average volume of interest-bearing deposits, partially offset by a $0.9 million decrease in rate on average interest-bearing liabilities and a $0.3 million decrease in volume of borrowed funds.
Current wording
The $2.9 million increase in interest expense resulted from an increase of $4.7 million due to changes in the average volume of interest-bearing deposits, partially offset by a $1.2 million decrease due to change in the rate on average interest-bearing liabilities and a $0.6 million decrease due to changes in the volume of borrowed funds.
Previous wording
The average cost of interest-bearing liabilities decreased 12 basis points to 2.92 percent for the six months ended June 30, 2026 compared to 2025. The average cost of interest-bearing deposits decreased 11 basis points to 2.88.
Current wording
The average cost of interest-bearing liabilities decreased 11 basis points to 2.93 percent for the nine months ended September 30, 2026 compared to 2025. The average cost of interest-bearing deposits decreased 11 basis points to 2.89%.
Previous wording
Interest-bearing liabilities averaged $2.0 billion during the six months ended June 30, 2026, an increase of $191.2 million, compared to the same period in 2025. The increase in interest-bearing liabilities was primarily due to an increase in savings deposits, brokered deposits, interest-bearing demand deposits and time deposits, partially offset by a decrease in borrowed funds.
Current wording
Interest-bearing liabilities averaged $2.1 billion during the nine months ended September 30, 2026, an increase of $201.7 million, compared to the same period in 2025. The increase in interest-bearing liabilities was primarily due to an increase in savings deposits, interest-bearing demand deposits, brokered deposits and time deposits, partially offset by a decrease in borrowed funds.
Previous wording
The provision for credit losses for loans was $1.0 million and $2.1 million during the three and six months ended June 30, 2026, compared to $1.7 million and $3.1 million for the same periods in 2025.
Current wording
The provision for credit losses for loans was $0.9 million and $3.0 million during the three and nine months ended September 30, 2026, compared to $1.4 million and $4.5 million for the same periods in 2025.
Previous wording
The provision for credit losses for off-balance sheet exposures was $0.1 million for the three and six months ended June 30, 2026 and 2025.
Current wording
The provision for credit losses for off-balance sheet exposures was $0.1 million and $0.2 million for the three and nine months ended September 30, 2026, compared to a release of $80 thousand and a provision of $16 thousand for the same periods in 2025.
Previous wording
There was no provision for credit losses on securities for the three and six months ended June 30, 2026, compared to a release of $2.0 million for the same periods in 2025.
Current wording
There was no provision for credit losses on securities for the three and nine months ended September 30, 2026, compared to a $0.8 million and $2.8 million release for the same periods in 2025.
Previous wording
For the quarter ended June 30, 2026, the Company reported income tax expense of $4.2 million for an effective tax rate of 22.4 percent, compared to income tax expense of $5.0 million and an effective tax rate of 23.4 percent for the prior year’s quarter. For the six months ended June 30, 2026, the Company reported income tax expense of $8.4 million for an effective tax rate of 22.6 percent, compared to an income tax expense of $8.9 million and an effective tax rate of 24.0 percent for the six months ended June 30, 2025. During the first quarter of 2026, Unity purchased $5.1 million in federal tax credits, resulting in $0.4 million of tax savings. Furthermore, during the second quarter of 2026, Unity purchased an additional $2.6 million of state tax credits, resulting in $0.2 million of tax savings.
Current wording
For the quarter ended September 30, 2026, the Company reported income tax expense of $2.6 million for an effective tax rate of 13.1 percent, compared to income tax expense of $4.5 million and an effective tax rate of 23.7 percent for the prior year’s quarter. For the nine months ended September 30, 2026, the Company reported income tax expense of $11.0 million for an effective tax rate of 19.3 percent, compared to an income tax expense of $13.3 million and an effective tax rate of 23.9 percent for the nine months ended September 30, 2025. During the third quarter of 2026, Unity purchased $27.6 million of transferable federal investment tax credits and $0.6 million of state tax credits, resulting in $2.6 million of tax savings. During the second quarter of 2026, Unity purchased $2.6 million of state tax credits, resulting in $0.2 million of tax savings. Furthermore, during the first quarter of 2026, Unity purchased $5.1 million in federal tax credits, resulting in $0.4 million of tax savings. The volume of tax credits recognized during the period was unusually high, and tax benefits of this magnitude are not expected to recur in future periods.
Previous wording
Total assets increased $227.7 million or 7.7 percent, to $3.2 billion at June 30, 2026, when compared to year end 2025. This increase was primarily due to increases of $137.8 million in gross loans, $58.2 million in prepaid expenses and other assets, $33.8 million in cash and cash equivalents and $3.1 million in FHLB stock, partially offset by a decrease of $4.7 million in securities. For the quarter ended June 30, 2026, the increase in prepaid expenses and other assets was primarily driven by $65 million of originated Brokered CDs pending settlements compared to $10 million of originated Brokered CDs pending settlements at year end 2025.
Current wording
Total assets increased $283.8 million or 9.6 percent, to $3.3 billion at September 30, 2026, when compared to year end 2025. This increase was primarily due to increases of $235.6 million in gross loans, $35.7 million in prepaid expenses and other assets, and $13.6 million in cash and cash equivalents, partially offset by a decrease of $1.2 million in securities.
Previous wording
Total shareholders’ equity increased $26.2 million, when compared to year end 2025, primarily due to earnings, partially offset by dividends paid on common stock and the repurchase of shares during the six months ended June 30, 2026.
Current wording
Total shareholders’ equity increased $42.8 million, when compared to year end 2025, primarily due to earnings, partially offset by dividends paid on common stock and the repurchase of shares during the nine months ended September 30, 2026.
Previous wording
AFS debt securities totaled $67.2 million at June 30, 2026, a decrease of $3.7 million or 5.1 percent, compared to $70.9 million at December 31, 2025. This net decrease was the result of:
Current wording
AFS debt securities totaled $71.6 million at September 30, 2026, an increase of $0.7 million or 1.0 percent, compared to $70.9 million at December 31, 2025. This net increase was the result of:
Previous wording
$9.5 million in principal payments, calls and maturities; and
Current wording
Partially offset by $13.7 million in principal payments, calls and maturities;
Previous wording
At June 30, 2026, the portfolio had a net unrealized loss of $1.6 million compared to a net unrealized loss of $1.6 million at December 31, 2025. These net unrealized losses are reflected net of tax in shareholder’s equity as accumulated other comprehensive loss.
Current wording
At September 30, 2026, the portfolio had a net unrealized loss of $2.0 million compared to a net unrealized loss of $1.6 million at December 31, 2025. These net unrealized losses are reflected net of tax in shareholder’s equity as accumulated other comprehensive loss.
Previous wording
HTM debt securities were $37.7 million at June 30, 2026, an increase of $1.1 or 3.1 percent, compared to $36.6 million at December 31, 2025. This net increase was the result of:
Current wording
HTM debt securities were $37.8 million at September 30, 2026, an increase of $1.2 million or 3.3 percent, compared to $36.6 million at December 31, 2025. This net increase was the result of:
Previous wording
The weighted average life of HTM securities, adjusted for prepayments, amounted to 14.1 years and 14.8 years at June 30, 2026 and December 31, 2025, respectively. As of June 30, 2026 and December 31, 2025, the fair value of HTM securities was $31.4 million and $30.4 million respectively. The effective duration of HTM securities amounted to 9.6 years and 10.7 years at June 30, 2026 and December 31, 2025, respectively.
Current wording
The weighted average life of HTM securities, adjusted for prepayments, amounted to 14.5 years and 14.8 years at September 30, 2026 and December 31, 2025, respectively. As of September 30, 2026 and December 31, 2025, the fair value of HTM securities was $29.0 million and $30.4 million, respectively. The effective duration of HTM securities amounted to 10.0 years and 10.7 years at September 30, 2026 and December 31, 2025, respectively.
Previous wording
Equity securities totaled $14.4 million at June 30, 2026, a decrease of $2.2 million or 13.3 percent, compared to $16.6 million at December 31, 2025. This net decrease was the result of:
Current wording
Equity securities totaled $13.4 million at September 30, 2026, a decrease of $3.2 million or 18.9 percent, compared to $16.6 million at December 31, 2025. This net decrease was the result of:
Previous wording
Partially offset by $0.8 million in realized gains; and
Current wording
Partially offset by $1.0 million in realized gains; and
Previous wording
The unrealized losses are largely due to the Company's investment in Patriot National Bancorp, Inc., of which the Company held approximately 2.2 million shares as of June 30, 2026.
Current wording
The unrealized losses are largely due to the Company's investment in Patriot National Bancorp, Inc., of which the Company held approximately 1.8 million shares as of September 30, 2026.
Previous wording
Securities with a carrying value of $67.0 million and $69.2 million at June 30, 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 June 30, 2026 and December 31, 2025.
Current wording
Securities with a carrying value of $69.9 million and $69.2 million at September 30, 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 September 30, 2026 and December 31, 2025.
Showing the first 40 of 68 pairs. Open the source sections for the rest.
Rearranged current paragraphs (1)
Current report — wording carried from elsewhere
Residential mortgage loans consist of loans secured by 1 to 4 family residential properties. These loans amounted to $672.5 million at September 30, 2026, a decrease of $4.7 million from year end 2025. Sales of conforming mortgage loans totaled $60.7 million for the nine months ended September 30, 2026, compared to sales of $50.9 million in the prior year period.