- Unity Bancorp, Inc. reported **net income of $14.4 million**, or **$1.41 per diluted share**, for the quarter ended **September 30, 2025**. This compares to net income of **$16.5 million**, or **$1.61 per diluted share**, for the quarter ended June 30, 2025.  **[1098146_302f3b8fc25742d6952de784c5261a37_0]** 
- For the nine months ended September 30, 2025, net income was **$42.5 million**, or **$4.15 per diluted share**, an increase from **$29.9 million**, or **$2.94 per diluted share**, for the same period in 2024.  **[1098146_302f3b8fc25742d6952de784c5261a37_0]** 
- The company's net interest margin expanded by **5 basis points to 4.54%** in Q3 2025, and sequential growth included loans increasing by **$85.9 million (3.6%)** and deposits growing by **$80.1 million (3.7%)**.  **[1098146_302f3b8fc25742d6952de784c5261a37_0]** 
- Unity Bancorp opened its **22nd branch in Madison, NJ**, and converted its Patriot National Bancorp, Inc. debt position into approximately **2.7 million restricted common shares**, contributing **$0.8 million** to net income for the quarter.  **[1098146_302f3b8fc25742d6952de784c5261a37_0]**

Unity Bancorp Reports Q3 2025 Earnings

- Patriot National Bancorp, Inc. entered into agreements on **August 29, 2025**, for a registered direct offering of **31,985,103** shares of common stock and warrants.  **[1098146_0001437749-25-028159_pnbk20250902_8k.htm:0]** **[1098146_0001437749-25-028159_pnbk20250902_8k.htm:1]** 
- The offering includes **19,196,000** shares of voting common stock and **12,789,103** shares of non-voting common stock that will be issuable upon exercise of three-year warrants.  **[1098146_0001437749-25-028159_pnbk20250902_8k.htm:1]** 
- Shares are being sold at **$1.25 per share**, and warrants at **$0.125 per Warrant Share**, with an exercise price of **$1.56 per Warrant Share**.  **[1098146_0001437749-25-028159_ex_858523.htm:0]** **[1098146_0001437749-25-028159_pnbk20250902_8k.htm:1]** 
- The company expects to receive approximately **$25.6 million** in gross proceeds from the offering, which will be used for general corporate purposes including capital expenditures, working capital, and debt repayment.  **[1098146_0001437749-25-028159_pnbk20250902_8k.htm:1]** **[1098146_0001437749-25-028159_ex_858523.htm:11]** 
- The closing of the offering is anticipated on or about **September 3, 2025**.  **[1098146_0001437749-25-028159_pnbk20250902_8k.htm:1]**

PATRIOT NATIONAL BANCORP (PNBK)