Unity Bancorp, Inc. (the “Registrant”) provided the following disclosure regarding the impact of the Coronavirus epidemic on its operations and future results:

The Central and Northern New Jersey and Eastern Pennsylvania markets served by the Registrant have been significantly impact by the Coronavirus epidemic. By Executive Order, the Governor of the State of New Jersey has ordered all non-essential businesses to close, and has banned large scale gatherings. The Commonwealth of Pennsylvania has enacted similar restrictions, at least in some counties. As a result, the Registrant believes that it will likely incur higher provisions for loan losses and slower loan demand and portfolio growth, effecting at least the first and second quarters of 2020. The Registrant therefore does not expect that its results of operations for at least the first and second quarters of 2020 will track with the Registrant’s historical performance, although the Registrant is not currently able to quantify the financial impact of the epidemic.

The Registrant has and is taking steps to protect the health and safety of its employees and to work with its customers experiencing economic consequences from the epidemic. Unity Bank, the Registrant’s insured depository subsidiary, has closed its branch lobbies and is servicing clients through its drive through facilities, through ATM’s or by appointment. Approximately 75% of the Registrant’s non-branch personnel are currently working remotely. The Bank is working with its loan customers to provide short term payment deferrals and to waive certain fees. These accommodations are likely to have an impact on the Registrant’s results of operations during the duration of the epidemic.

Forward-Looking Statements

This report contains certain forward-looking statements, either expressed or implied, within the meaning of Sections 27A of the Securities Act of 1933, as amended, and 21E of the Securities Exchange Act of 1934, as amended, that involve inherent risks and uncertainties. These statements are provided to assist the reader in understanding anticipated future financial performance. These statements involve certain risks, uncertainties, estimates and assumptions by management.

Factors that may cause actual results to differ from those results expressed or implied, include, but are not limited to those listed under “Item 1A – Risk Factors” in the Registrant’s Annual Report on Form 10-K as well as the overall economy and the interest rate environment; the ability of customers to repay their obligations; the adequacy of the allowance for loan losses; competition; significant changes in tax, accounting or regulatory practices and requirements; technological changes, and the impact of the Coronavirus epidemic and the reaction of the Federal, state and local governments to the epidemic. Although management has taken certain steps to mitigate the negative effect of the aforementioned items, significant unfavorable changes could severely impact the assumptions used and have an adverse effect on future profitability.

About UNITY BANCORP, INC. (NASDAQ:UNTY)

Unity Bancorp, Inc. is a bank holding company that serves as a holding company for Unity Bank (the Bank). The Company’s primary business is ownership and supervision of the Bank. The Company, through the Bank, conducts a traditional and community-oriented commercial banking business and offers services, such as personal and business checking accounts, time deposits, money market accounts and regular savings accounts. It engages in lending activities and offers commercial, small business administration, consumer, mortgage, home equity and personal loans. The Bank is a full-service commercial bank, that provides business and consumer financial services through its office in Clinton, New Jersey and over 14 New Jersey branches located in Clinton, Edison, Flemington, Highland Park, Linden, Middlesex, North Plainfield, Phillipsburg, Scotch Plains, Somerset, South Plainfield, Union, Washington and Whitehouse. The Bank has over one Pennsylvania branch located in Forks Township.