For more information, visit ICBA's website at About Unity Bancorp, Inc. Holding $5.8 trillion in assets, $4.8 trillion in deposits, and $3.8 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers' dreams in communities throughout America. With nearly 50,000 locations nationwide, community banks employ nearly 700,000 Americans and are the only physical banking presence in one in three U.S. ICBA is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education, and high-quality products and services. The Independent Community Bankers of America ® creates and promotes an environment where community banks flourish. To see the full Best-Performing Banks 2023 list, please visit ICBA at About ICBA A bank must have a rating of C or higher by Kroll Bond Ratings (formerly LACE) to be considered for ranking. ICBA then divides the community banks into three broad segments based on asset size and ranks each segment based on the three-year weighted average ROA. Using Federal Deposit Insurance Corporation (FDIC) data, ICBA takes into account pre-tax return-on-assets (ROA) figures from the past three years, with the most recent year weighted at three times, second most recent year at two times and third most recent year at one time. ICBA compiles the rankings by recognizing community banks who are high performers over several years. The ICBA recognition is a tribute to our employees, board and management team for delivering value for our shareholders and customers by maintaining the bank’s financial strength and investing in our future.” “As a conservatively run and profitable community bank, we are well-capitalized and well-positioned to continue to serve our customers and community. “We are honored to make this prestigious list of the top performing community banks in the U.S.,” said Unity Bank President & CEO James A. Unity holds about $2.5 billion in assets and $1.8 billion in deposits. Unity, the only New Jersey headquartered bank selected for the honor, was listed at number 25 out of 352 ICBA member banks with assets of $1 billion or higher. Unity is Only New Jersey Headquartered Bank Recognized on the Annual RankingĬLINTON, N.J., (GLOBE NEWSWIRE) - The Independent Community Bankers of America ® (ICBA) has selected Unity Bank for its Best-Performing Banks 2023 list, which annually ranks the top community banks in the country.
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