University Bancorp 1Q2026 Net Income $8,904,884 $1.72 Per Share
Rhea-AI Summary
University Bancorp (OTCQB:UNIB) reported 1Q2026 net income attributable to common shareholders of $8,904,884 or $1.72 per share on 5,169,518 average shares, versus a 1Q2025 net loss. TTM ROE was 19.5% and annualized 1Q2026 ROE was 35.8%. Deposits, acquisitions and investment positions expanded, with faith-based deposits at $189.3M and CU Trust ownership increased to 49.999%.
Liquidity included $59.4M in cash and securities and a $6.4M put option portfolio; $36.8M of working capital is concentrated in three public investments.
Positive
- Net income of $8.90M in 1Q2026 versus a net loss in 1Q2025
- EPS of $1.72 on average shares outstanding of 5,169,518
- TTM ROE of 19.5% (annualized 1Q2026 ROE 35.8%)
- Faith-based deposits grew to $189.3M at March 31, 2026
- CU Trust ownership increased to 49.999% and AUM rose to $137.1M
Negative
- Efficiency ratio high at 90.30%, indicating elevated operating costs
- $36.8M of working capital concentrated in three public investments, creating concentration risk
- Put option portfolio of $6.4M signals material market stress hedging
News Market Reaction – UNIB
In the Apr 21 session, UNIB gained 1.09%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
ANN ARBOR, MI / ACCESS Newswire / April 20, 2026 / University Bancorp, Inc. (OTCQB:UNIB or "UNIB") announced that it had an unaudited net income attributable to University Bancorp, Inc. common stock shareholders in 1Q2026 of
Shareholders' equity attributable to University Bancorp, Inc. common stock shareholders was
President Stephen Lange Ranzini noted, "Return on equity (ROE) at University Bancorp in 1Q2026 annualized was excellent at
Overall, our business development efforts continue at a rapid pace. For example:
Faith-based deposits have grown past
$189.3 million at March 31, 2026, and in 4Q2025 we rolled out a new product that enables the automatic sweep of idle balances in customer accounts at brokerage firms into and out of our faith based deposit products, which is accelerating deposit growth.On December 31, 2025, University Bank closed on the acquisition of additional ownership of Credit Union Trust, increasing our ownership from
12.5% to49.999% for a total purchase price of$3.375 million . CU Trust increased its Assets Under Management at 12/31/2025 to$137.1 million from$105.7 million at 12/31/2024, and continues to grow towards the critical mass required to pass the break- even level, which is currently about$180 million .Hyrex Servicing, LLC, our mortgage wealth management arm continues to seek its initial large institutional money management client to formally launch its wealth management business.
On April 1, 2026, we closed on the acquisition of a faith-based mortgage company competitor to UIF, American Finance House Lariba, and by all accounts the acquisition was successfully integrated into UIF.
We are rolling out product extensions and geographical expansion of our existing lending product suite. University Bank is now licensed for conventional mortgage lending and home equity lending in all 50 states. We have completed the rollout of our 1st Mortgage program in all 48 states where we intend to introduce the product, we have completed the rollout of our 1st Mortgage HELOC program in all 47 states where we intend to introduce the product, and are now working on rolling out a home equity lending program in 47 states, with the loans being sold to the secondary market and subserviced by our Midwest Loan Services division.
We are working on closing two additional small acquisitions, pending regulatory approvals, and continue to look for ways to organically expand our core banking, lending, insurance and wealth management businesses.
At 3/31/2026 cash & equity investment securities at UNIB, available to meet working capital needs and to support investment opportunities at UNIB were
A portion of UNIB's working capital,
Currency Exchange International (Symbol CURN), a company that specializes in foreign exchange, of which we now own 762,339 shares,
12.82% of the currently outstanding shares of common stock, at an average cost of$13.38 per share;Pulsar Helium (Symbol PSRHF), of which we now own 9,035,435 shares,
4.88% of the currently outstanding shares of common stock, at an average cost of$0.534 per share. Pulsar is developing what may be North America's largest reservoir of Helium-4, in Minnesota's Iron Range region, and a second major reservoir of Helium-4, in Greenland. Pulsar's Minnesota reservoir also contains the only known commercial reservoir of Helium-3 in the World, a very useful substance constantly in supply deficit currently worth about$20 million per kilogram. Until recently, Qatar had been supplying33% of the World's supply of Helium-4, the use of which is critical to most advanced manufacturing processes. In the first week of the Iran War, Iran's military destroyed the helium gas compression plant at Ras Laffan in Qatar, eliminating Qatar's ability to produce Helium-4. It will take at least two years to rebuild this plant once the fighting stops. In the third week of the Iran War, Iran's military destroyed17% of Qatar's natural gas trains, from which the Helium-4 is extracted. It will take 3-7 years to rebuild these natural gas trains, reducing global Helium-4 supply by5.6% over that time. Due to the rapid adoption of new production techniques for computer semiconductor chips, global usage of Helium-4 is projected to rise from25% of global Helium-4 supply in 2025 to125% of global Helium-4 supply in 2026, which would add10% per year to global demand for the next 10 years. Assuming that price based rationing of Helium-4 occurs, and that annual demand increases by just6% , absent new and higher levels of Helium-4 production, the following supply deficits are possible (in 2026 the supply deficit will be reduced by8% through the usage of all Helium-4 in storage)Deficit Year 1:
33% +3% (half of annual growth to average it for a year) -8% storage =28% Deficit Year 2:
33% +9% =42% Deficit Year 3:
5.6% +15% =20.6% Deficit Year 4:
2.8% (giving a50% chance of coming back on line early) +21% =23.8% Deficit Year 5:
0% (giving zero chance of coming back on line late) +27% Deficit Year 6:
0% (giving zero chance of coming back on line late) +33% Deficit Year 7:
0% (giving zero chance of coming back on line late) +39%
In sum, annual global supply of Helium-4 is projected to be in deficit over the next seven years in a range of
A portfolio of put options on the following indices: S&P500, KRE (S&P 500 Banks) & XLF (S&P 500 Banks, Shadow Banks, Insurance Companies & REITs) as well as on one large regional bank that we have strong concerns about, which if it fails will negatively impact our loan portfolio in Michigan. UNIB's put option portfolio was worth
$6.4 million at 3/31/2026.
Other Key statistics as of 3/31/2026:
1-year annual revenue growth*, | |
10-year annual average revenue growth*, | |
TTM Revenue | |
1 Year ROE | |
10 Year Average ROE | |
LLR/NPAs>90 days | |
Debt to equity ratio, | |
Current Ratio,# | 6.94 |
Efficiency Ratio, %+ | |
Average Assets, University Bank | |
Loans Held for Sale, fair value, | |
NPAs >90 days | |
TTM ROA % | |
Tier 1 Capital Ratio % | |
NPAs/Assets % | |
Texas Ratio % | |
NIM % | |
NCOs/Loans % | |
Trailing 12 Months P-E Ratio x | 6.2 |
Price/Book Value Ratio x |
#Parent company only current assets divided by 12-month projected cash expenses.
+Calculated as: (non-interest expense/ (net interest income + non-interest income)).
xBased on last sale of
Excluding
Shareholders and investors are encouraged to refer to the financial information including the investor presentations, audited financial statements, strategic plan and prior press releases, available on our investor relations web page at: http://www.university-bank.com/bancorp/.
A detailed income statement, balance sheet and other financial information for UNIB and University Bank as of 3/31/2026 is available here: https://www.university-bank.com/wp-content/uploads/2026/04/UNIB-University-Bank-Detailed-Financial-Supplemental-Information-March-2026.pdf.
University Bank's FDIC Quarterly Call Report, with substantial additional information including loan origination, loan investment composition, delinquency ratios and Tier 1 Capital ratios for 3/31/2026 will be available here on or about April 30, 2026: https://cdr.ffiec.gov/public/ManageFacsimiles.aspx
About UNIB
Ann Arbor-based University Bancorp is a Federal Reserve regulated financial holding company that owns:
100% of University Bank, a bank based in Ann Arbor, Michigan;100% of Crescent Assurance, PCC, a captive insurance company licensed in Washington DC; and100% of Hyrex Servicing, a master mortgage servicing firm, based in Ann Arbor, Michigan.
In addition, UNIB recently announced that it had agreed to purchase Bank of Whittier, N.A. (BOW) to expand its faith-based banking business.
University Bank together with its Michigan-based subsidiaries, holds and manages a total of over
UIF, a faith-based banking firm based in Southfield, MI;
University Lending Group, a retail residential mortgage originator based in Clinton Township, MI;
Midwest Loan Services, a residential mortgage subservicer based in Houghton, MI;
Community Banking, based in Ann Arbor, MI, which provides traditional community banking services and wealth management;
Ann Arbor Insurance Centre, an independent insurance agency based in Ann Arbor, MI.
Mortgage Warehouse Lending, a mortgage warehouse lender based in Southfield, MI.
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, future profitability, efficiencies and economies of scale from the merger, the sustainability of past results, future products, valuations, economic, market or industry conditions, 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, or the operations of companies that we invest in. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The BOW transaction and other acquisitions are subject to receipt of all necessary regulatory approvals. We undertake no obligation to update any information or forward-looking statement.
Contact: Stephen Lange Ranzini, President and CEO
Phone: 734-741-5858, Ext. 9226
Email: ranzini@university-bank.com
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SOURCE: University Bancorp, Inc.
View the original press release on ACCESS Newswire