Ann Arbor, Michigan, May 11, 2018, — University Bancorp, Inc. (OTCQB: UNIB), announced that it was ranked as the #3 banking firm in the entire United States in 2017 based on return on average shareholders’ equity according to American Banker magazine (https://www.americanbanker.com/data/cautiously-optimistic-the-top-200-publicly-traded-community-banks). American Banker also ranked our bank holding company #3 nationwide for return on average equity for the three year period 2015-2017 and #4 nationwide for return on assets in 2017.
This marks the 6th year in a row that University Bancorp has been ranked by American Banker magazine as being in the top 3 of all U.S. publicly traded banks based return on average equity (ROAE). We were the:
- #3 top performing publicly traded bank in the U.S. in 2017 based on ROAE;
- #1 top performing publicly traded bank in the U.S. in 2016 & 2015, based on ROAE;
- #2 top performing publicly traded bank in the U.S. based over the period 2014 to 2012, based on ROAE.
Shareholders and investors are encouraged to refer to the financial information including the audited financial statements, strategic plan and prior press releases, available on our investor relations web page at: http://www.university-bank.com/bancorp/. In addition, University Bank’s FDIC Call Reports are available on the OTC Markets website at: https://www.otcmarkets.com/stock/UNIB/disclosure.
Ann Arbor-based University Bancorp owns 100% of University Bank which, together with its Michigan-based subsidiaries, holds and manages a total of over $20.8 billion in financial assets for over 120,000 customers, and our 401 employees make us the 5th largest bank based in Michigan. University Bank is an FDIC-insured, locally owned and managed community bank, and meets the financial needs of its community through its creative and innovative services. Founded in 1890, University Bank® is the 15th oldest bank headquartered in Michigan. We are proud to have been selected as the “Community Bankers of the Year” by American Banker magazine and as the recipient of the American Bankers Association’s Community Bank Award. University Bank is a Member FDIC. The members of University Bank’s corporate family, ranked by their size of revenues are:
- University Lending Group, a retail residential mortgage originator based in Clinton Township, MI;
- Midwest Loan Services, a residential mortgage subservicer based in Houghton, MI;
- UIF, a faith-based banking firm based in Southfield, MI;
- Community Banking, based in Ann Arbor, MI, which provides traditional community banking services in the Ann Arbor area;
- Midwest Loan Solutions, a residential mortgage correspondent lender based in Southfield, MI;
- Ann Arbor Insurance Centre, an independent insurance agency based in Ann Arbor.
CAUTIONARY STATEMENT: This press release contains certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, but are not limited to, statements concerning future growth in assets, pre-tax income and net income, budgeted income levels, the sustainability of past results, and other expectations and/or goals. Such statements are subject to certain risks and uncertainties which could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, economic, competitive, governmental and technological factors affecting our operations, markets, products, services, interest rates and fees for services. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.