Banc Funds Co LLC Maintains 9.1% Stake in Unity Bancorp

TL;DR

**Banc Funds Co LLC still owns 9.1% of Unity Bancorp, a big vote of confidence!**

AI Summary

Banc Funds Co LLC, an investment adviser, filed an amendment to its Schedule 13G on February 9, 2024, indicating its ownership of Unity Bancorp, Inc. /NJ/ common stock as of December 31, 2023. The filing shows that Banc Funds Co LLC, along with its group members Banc Fund IX L.P. and TBFC Financial Technologies Fund L.P., collectively hold 1,023,000 shares, representing 9.1% of Unity Bancorp's outstanding common stock. This matters to investors because it signals a significant institutional stake in the company, potentially indicating confidence in its future, but also means a large block of shares could be sold, impacting the stock price.

Why It Matters

This filing shows a major institutional investor's continued significant ownership in Unity Bancorp, which can influence investor sentiment and the stock's liquidity.

Risk Assessment

Risk Level: low — The filing indicates a stable, significant institutional ownership, which generally reduces volatility risk for the stock.

Analyst Insight

Investors should note the continued significant institutional ownership by Banc Funds Co LLC, which could be a positive signal of long-term value, but also monitor for any future changes in their stake that could impact stock price.

Key Numbers

• 9.1% — Percentage of Class (Represents the total voting power held by Banc Funds Co LLC and its group members in Unity Bancorp, Inc. /NJ/.)
• 1,023,000 — Shares Beneficially Owned (The total number of common stock shares of Unity Bancorp, Inc. /NJ/ beneficially owned by the reporting group as of December 31, 2023.)
• December 31, 2023 — Date of Event (The date as of which the ownership stake was calculated for this filing.)
• February 9, 2024 — Filing Date (The date this SC 13G/A amendment was filed with the SEC.)

Key Players & Entities

• Banc Funds Co LLC (company) — the investment adviser filing the SC 13G/A
• Unity Bancorp, Inc. /NJ/ (company) — the subject company whose stock is being reported
• Banc Fund IX L.P. (company) — a group member of Banc Funds Co LLC
• TBFC Financial Technologies Fund L.P. (company) — a group member of Banc Funds Co LLC
• 1,023,000 shares (dollar_amount) — the total number of shares beneficially owned by the reporting group

Forward-Looking Statements

• Banc Funds Co LLC will maintain a significant ownership stake in Unity Bancorp, Inc. /NJ/ for the foreseeable future. (Banc Funds Co LLC) — medium confidence, target: December 31, 2024

FAQ

Filing Documents

• doc1.htm (SC 13G/A) — 94KB
• 0001567619-24-000131.txt ( ) — 96KB

From the Filing

SC 13G/A 1 doc1.htm NONE Schedule 13G UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1 )* Unity Bancorp, Inc. (Name of Issuer) COMMON STOCK (Title of Class of Securities) 913290102 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: o Rule 13d-1(b) x Rule 13d-1(c) o Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 913290102 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) BANC FUND X L.P. 82-5185037 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) x 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION USA NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER 416374 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 416374 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 416374 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 4.1% 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN FOOTNOTES CUSIP No. 913290102 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) BANC FUND IX L.P. 37-1755531 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) x 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION USA NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER 575240 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 575240 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 575240 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.7% 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN FOOTNOTES CUSIP No. 913290102 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) TBFC Financial Technologies Fund L.P. 88-1405404 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) x 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION USA NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER 0 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 0 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0% 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) N/A FOOTNOTES Item 1. (a) Name of Issuer Unity Bancorp, Inc. (b) Address of Issuer's Principal Executive Offices 64 Old Highway 22, Clinton, NJ 08809 Item 2. (a) Name of Person Filing The Banc Funds Company, L.L.C. This Schedule 13G/A is being filed jointly by Banc Fund IX L.P. ("BF IX"), an Illinois Limited Partnership, Banc Fund X L.P. ("BF X"), an Illinois Limited Partnership, and TBFC Financial Technologies Fund L.P. (collectively, the "Reporting Persons"). The general partner of BF IX is MidBan IX L.P. ("MidBan IX"), whose principal business is to be a general partner of BF IX. The general partner of BF X is MidBan X L.P. ("MidBan X"), whose principal business is to be a general partner of BF X. The general partner of TBFC Financial Technologies Fund L.P. is MidBan XI L.P. ("MidBan XI"), whose principal business is to be a general partner of TBFC Financial Technologies Fund L.P. The general partner of MidBan IX, MidBan X, and MidBan XI is The Banc Funds Company, L.L.C., ("TBFC"), whose principal business is to be a general partner of MidBan IX, MidBan X, and MidBan XI. TBFC is an Illinois corporation whose principal shareholder is Charles J. Moore. Mr. Moore has been the manager of BF IX, BF X and TBFC Financial Technologies Fund L.P., since their respective inceptions. As manager, Mr. Moore has voting and dispositive power over the securities of the issuer held by each of those entities. As the controlling member of TBFC, Mr. Moore will control TBFC, and therefore each o

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