Financial
Statements
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8
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8
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Assets:
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2007
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2006
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Investments
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$ | 3,462,807 | $ | 3,360,138 | ||||
Participant
loans
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121,017 | 160,827 | ||||||
Net
assets available for benefits at fair value
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3,583,824 | 3,520,965 | ||||||
Adjustment
from fair value to contract value for fully benefit-responsive investment
contracts
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4,857 | - | ||||||
Net
assets available for benefits
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$ | 3,588,681 | $ | 3,520,965 |
2007
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2006
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Additions
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Contributions
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Employee
contributions
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$ | 446,901 | $ | 464,606 | ||||
Employer
contributions, net of forfeitures
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185,267 | 195,168 | ||||||
Total
contributions
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632,168 | 659,774 | ||||||
Investment
income
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Net
appreciation (depreciation) in fair value of investments
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(248,117 | ) | 312,343 | |||||
Interest
and dividends
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35,575 | 31,635 | ||||||
Net
investment income (loss)
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(212,542 | ) | 343,978 | |||||
Total
additions
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419,626 | 1,003,752 | ||||||
Deductions
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||||||||
Benefits
paid to participants
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(327,603 | ) | (188,473 | ) | ||||
Expenses
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(24,307 | ) | (19,951 | ) | ||||
Total
deductions
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(351,910 | ) | (208,424 | ) | ||||
Net
increase
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67,716 | 795,328 | ||||||
Net
assets available for benefits
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Beginning
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3,520,965 | 2,725,637 | ||||||
Ending
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$ | 3,588,681 | $ | 3,520,965 |
(6)
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Investments
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2007
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2006
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Mutual
funds
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$ | 132,586 | $ | 212,838 | ||||
Common
stock
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(380,703 | ) | 99,505 | |||||
Total
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$ | (248,117 | ) | $ | 312,343 |
2007
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2006
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Unity
Bancorp, Inc. Stock Fund
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$ | 627,158 | $ | 1,017,336 | ||||
SSA-Midcap
400
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450,668 | 362,345 | ||||||
SSA-Equity
Index/S&P 500
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445,693 | 405,870 | ||||||
SSA-S&P
500 Growth
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282,145 | 242,434 | ||||||
SSA-S&P
500/Value
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224,369 | 178,078 | ||||||
SSA-Moderate
Strategic Balanced
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222,229 | 207,835 |
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SSA-Government
Money Market
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210,430 | - | ||||||
SSA-Russell
2000
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199,760 | 181,113 | ||||||
SSA-EAFE
Index Fund
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190,140 | - |
(7)
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New
Accounting Pronouncements
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(8)
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Reconciliation
of Financial Statements to Form
5500
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As of December 31, | |||||||
2007
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2006
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Net
assets available for benefits per the financial statements
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$ | 3,588,681 | $ |
3,520,965
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Less:
Adjustment from contract value to fair value
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(4,857) | - | ||||||
Net assets available for benefits per Form 5500
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$ | 3,583,824 | $ | 3,520,965 |
Shares
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Current
Value
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Unity
Bancorp, Inc. Stock Fund *
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74,510
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$
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627,158
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SSA-Midcap
400
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14,809
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450,668
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SSA-Equity
Index/S&P 500
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1,571
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445,693
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SSA-S&P
500 Growth
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22,664
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282,145
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SSA-S&P
500/Value
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17,741
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224,369
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SSA-Moderate
Strategic Balanced
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15,226
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222,229
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SSA-Government
Money Market
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210,430
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210,430
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SSA-Russell
2000
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7,918
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199,760
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SSA-EAFE
Index Fund
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8,046
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190,140
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Pentegra
Stable Value Fund
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12,982
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142,836
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SSA-Aggressive
Strategic Balanced
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10,542
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139,414
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SSA-Passive
Long Treasury Fund
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11,656
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135,659
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SSA-NASDAQ
100 Index Fund
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4,542
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58,623
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SSA-Conservative
Strategic Balanced
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3,673
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57,908
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SSA-US
Real Estate Investment Fund
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1,507
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40,668
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SSGA
Aggregate Bond
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594
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10,953
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Loans
to Participants (Range of interest rates charged 5.00% to
9.25%)*
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121,017
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121,017
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Collective
Short Term Investment Funds
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24,005
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24,005
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$
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3,583,824
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