In Brief: Unity of N.J. Has Another Losing Year

CLINTON, N.J. — Unity Bancorp reported a loss for the second consecutive year.

The $356 million-asset parent of Unity Bank said it lost $5.9 million for the full year and $1.3 million in the fourth quarter, despite selling five branches in December. The company also closed its mortgage subsidiary in the fourth quarter, which accounted for $4.4 million of Unity’s losses and writeoffs for the year.