University Bank Profile

Hoover--big
University Bank is an FDIC insured, locally owned and locally managed Community Bank primarily serving the Cities of Ann Arbor and Ypsilanti of Washtenaw County, Michigan. The Community Banking operation focuses on local businesses, minorities and non-profit organizations. Other Community Banking specialties include highly competitive deposit products for business owners, residential mortgages, commercial real estate lending and insurance, through its wholly owned subsidiary Ann Arbor Insurance Centre, Inc.

Everyday everyone and their fortune are truly appreciated at University Bank. Ann Arbor based University Bancorp owns 100% of University Bank. In addition to its Community Banking operations, University Bank specializes in mortgage subservicing through the Bank’s Houghton-based 80% owned subsidiary, Midwest Loan Services. University Lending Group (ULG), a subsidiary of University Bank, is a full service mortgage bank whose goal is to provide a comprehensive selection of competitively priced loan products. Our products and services are designed to meet your needs. University Islamic Financial (UIF) is a majority-owned subsidiary of University Bank (Member FDIC).  In business since 2003, our company offers Islamic finance products and services that allow our customers to remain true to their faith. Our goal is simple; to serve the financial needs of the American Muslim community.

History of University Bank

newberry
University Bank is owned by University Bancorp and was initially chartered as The Newberry State Bank located in Newberry, Michigan in the Upper Peninsula. While the bank was founded in 1890, a bank holding company owned by Stephen Lange Ranzini and Joseph Ranzini acquired controlling interest in the bank in 1988. Under Stephen Lange Ranzini’s leadership as President and CEO of the Bancorp, the bank expanded into Sault Ste. Marie and doubled in size.

In 1994 Newberry State Bank sold its loans, deposits and branches to another bank in the Upper Peninsula. Retaining the Bank charter, Stephen Ranzini changed the name of the charter to University Bank. Stephen Lange Ranzini was interested in relocating the bank charter to Ann Arbor because there was only one other community bank based in Ann Arbor at the time and this is a diverse, vibrant and growing community. A new management team was recruited and the bank opened in Ann Arbor in early 1996. After the initial management team was replaced, Stephen Lange Ranzini took over the direct day-to-day management of the bank in late 1997.

The new University Bank was positioned as a sophisticated community bank with a high degree of personalized, comprehensive, responsive customer service and low fees.

At University Bank customers experience the difference of:
• Local decision making
• Our Customers Receive Personal Service and Attention
• Competitive Pricing
• All Financial Services Products Available
• Low fees