ANN ARBOR, MI / ACCESS Newswire / April 23, 2025 / University Bancorp, Inc. (OTCQB:UNIB) (or "UNIB") is very pleased to announce that the University Bank Team has won four major international, national and Michigan awards as follows:
University Bank has won both the USA Today national award as a top national employer (https://topworkplaces.com/company/university-bancorp/), and the Detroit Free Press Top Workplace award as a top Michigan employer. The best part about these awards is that they were the result of metrics received from third-party polling of the employees of all the firms nominated.
University Bank's Midwest Loan Services division, which provides mortgage subservicing services to 321 financial institutions across the U.S., has received Fannie Mae's Servicer Total Achievement and Rewards (STAR) Performer Award for its 2024 performance. Midwest Loan Services was recognized for excellence in General Servicing for its measurable results that demonstrated operational effectiveness. https://www.fanniemae.com/newsroom/fannie-mae-news/fannie-mae-announces-2024-star-program-results
Stephen Lange Ranzini, University Bancorp's and University Bank's President & CEO, has won a major international award. He was invited and is being included as a member of Marquis' Who's Who in the World for 2025.
Julie Burzynski, UIF's President and University Bank's Executive Vice President, was named a National Mortgage Professional Woman of Inspiration for 2025: https://nationalmortgageprofessional.com/news/2025-mortgage-lending-women-inspiration.
These awards are the result of the hard work and excellent results of the employees of University Bank and its affiliates. UNIB recently announced its 2024 financial results and noted the following key accomplishments:
Revenue in 2024 grew 18.65%. Our 10-year average revenue growth was 18.70%;
Return on Equity (ROE) for 2024 was 12.5%. Our 10-year average ROE was 25.97%;
Shareholders' equity at University Bank exceeded $100 million for the first time ever.
Shareholders' equity at UNIB at 12/31/2024 was $93,590,773 (excluding minority interest of $11,961,541), or $18.10 per share, based on common shares outstanding at December 31, 2024 of 5,169,518.
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 12/31/2024 is available here: https://www.university-bank.com/wp-content/uploads/2025/03/4Q2024-UNIB-Financials-Preliminary-Unaudited.pdf.
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; and
100% of Hyrex Servicing, a master mortgage servicing firm, based in Ann Arbor, Michigan.
University Bank together with its Michigan-based subsidiaries, holds and manages a total of over $36 billion in financial assets for over 183,000 customers, and our 528 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:
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 in the Ann Arbor area;
Ann Arbor Insurance Centre, an independent insurance agency based in Ann Arbor, MI.
Reverse Mortgage Lending, a reverse residential mortgage lender based in Southfield, MI; and
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, pre-tax income and net income, budgeted income levels, the sustainability of past results, mortgage origination levels and margins, valuations, 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. 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
