University Bancorp, Inc. completed its previously announced acquisition of the 20% interest in UIF Corporation that it did not already own on October 30, 2026. The transaction used newly issued University Bancorp common shares and a cash payment, with final terms differing from the originally negotiated all-stock structure.
University Bancorp issued 482,054 newly issued common shares and paid $3,911,147.50 in cash for the remaining UIF interest. The company said the closing terms were different from the initial arrangement, which had been structured as an all-stock stock swap.
UIF is a subsidiary of University Bank. Following the transaction, University Bank owns 100% of UIF, compared with its previous 80% ownership.
As of September 30, 2026, UIF reported shareholders' equity of $76,050,646. Minority Interest was $15,210,129 at that date and was acquired through the transaction.
University Bancorp said its shareholders' equity would have increased by $11,298,981.70 as of September 30, 2026, had the acquisition closed on that date. The company also said University Bank's Tier 1 Capital increases by about $4 million going forward because the minority interest in UIF has been eliminated.
Ann Arbor-based University Bancorp is a Federal Reserve regulated financial holding company. Its holdings include 100% of University Bank, 100% of Bank of Whittier, N.A., 100% of Crescent Assurance, PCC and 100% of Hyrex Servicing.
University Bank and its Michigan-based subsidiaries hold and manage a total of over $36 billion in financial assets for over 185,000 customers, according to the company. University Bancorp shares trade on the OTCQB under the ticker symbol OTCQB:UNIB.
The company made detailed income statement, balance sheet and other financial information for University Bancorp and University Bank available for September 30, 2026. It also stated that FDIC Quarterly Call Reports for University Bank and Bank of Whittier would include information on loan origination, loan investment composition, delinquency ratios and Tier 1 Capital ratios for that date.
University Bancorp cautioned that its forward-looking statements involve risks and uncertainties. It identified economic, competitive, governmental and technological conditions, interest rates, service fees, credit risks, vendor and technology-related risks, and the operations of companies in which it invests as factors that could cause actual results to differ materially from those statements.
University Bancorp closed its acquisition of the 20% of UIF Corporation it did not already own on October 30, 2026.
The consideration consisted of 482,054 newly issued common shares and $3,911,147.50 in cash.
UIF had shareholders' equity of $76,050,646 and Minority Interest of $15,210,129 as of September 30, 2026.
University Bancorp said its shareholders' equity would have increased by $11,298,981.70 as of September 30, 2026, had the transaction closed then.
University Bancorp said University Bank's Tier 1 Capital increases by about $4 million going forward following the elimination of UIF's minority interest.
University Bancorp, Inc. announced that it closed on the previously announced transaction to acquire the 20% of UIF Corporation that it did not already own. UIF is a key subsidiary of University Bank, which now owns 100% of UIF.
University Bancorp announced the closing on October 30, 2026. The transaction covered the acquisition of 20% of UIF Corporation.
University Bancorp issued 482,054 newly issued shares of its common stock and paid $3,911,147.50 in cash. The final closing terms differed from the originally negotiated terms, which involved an all-stock stock swap.
University Bancorp issued 482,054 newly issued shares of its common stock as part of the transaction. It also paid $3,911,147.50 in cash.
UIF Corporation had shareholders' equity of $76,050,646 at September 30, 2026. Minority Interest was $15,210,129 as of that date and was acquired in the transaction.
The acquisition increases University Bancorp's shareholders' equity by $11,298,981.70 as of September 30, 2026, had the transaction closed then. The source presents this as the effect based on that date.
University Bank's Tier 1 Capital increases by about $4 million going forward as a result of eliminating the minority interest in UIF. This effect relates to University Bancorp acquiring the remaining 20% of UIF.
University Bancorp is a Federal Reserve regulated financial holding company that owns 100% of University Bank, 100% of Bank of Whittier, N.A., 100% of Crescent Assurance, PCC and 100% of Hyrex Servicing. University Bank and its Michigan-based subsidiaries hold and manage a total of over $36 billion in financial assets for over 185,000 customers, according to the company.
University Bancorp, Inc. shares trade on the OTCQB under the ticker symbol OTCQB:UNIB. The source identifies the company as “University Bancorp, Inc. (OTCQB:UNIB)”.
University Bancorp provided links to detailed income statement, balance sheet and other financial information for University Bancorp and University Bank as of September 30, 2026. It also stated that University Bank's and Bank of Whittier's FDIC Quarterly Call Reports, including information on loan origination, loan investment composition, delinquency ratios and Tier 1 Capital ratios for September 30, 2026, would be available by October 30, 2026.
University Bancorp cautions that forward-looking statements involve risks and uncertainties and that actual results could differ materially. The company identifies factors including economic, competitive, governmental and technological conditions, interest rates, service fees, credit risks, vendor and technology-related risks, and the operations of companies in which it invests.