University Bancorp 1Q2026 Net Income $8,904,884 $1.72 Per Share

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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 $8,904,884, $1.72 per share on average shares outstanding of 5,169,518 for the first quarter, versus an unaudited net loss of $(231,170), ($0.04) per share on average shares outstanding of 5,169,518 for 1Q2025. On a fully diluted basis, net income per share in 1Q2026 was $1.37. There were no dilutive instruments outstanding in 1Q2025.

Shareholders’ equity attributable to University Bancorp, Inc. common stock shareholders was $107,743,551.94 or $20.84 per share, based on shares outstanding at March 31, 2026 of 5,169,518, and $132,743,552 or $20.48 per share, on a fully diluted basis, based on 6,481,854 shares outstanding.

President Stephen Lange Ranzini noted, “Return on equity (ROE) at University Bancorp in 1Q2026 annualized was excellent at 35.8%, despite mortgage originations nationwide continuing to be at 30-year lows with respect to units originated. The annualized ROE for the TTM ended March 31, 2026 was 19.5% on initial shareholders’ equity of $93,132,755 at March 31, 2025.”

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% to 49.999% 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 1^st Mortgage program in all 48 states where we intend to introduce the product, we have completed the rollout of our 1^st 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 $59.4 million. UNIB also has available a $12.5 million line of credit with a balance due of $0.

A portion of UNIB’s working capital, $36.8 million (at market value), has been invested in a portfolio of publicly traded investments concentrated in three large investments. The three largest investments at 3/31/2026 were:

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 supplying 33% 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 destroyed 17% 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 by 5.6% 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 from 25% of global Helium-4 supply in 2025 to 125% of global Helium-4 supply in 2026, which would add 10% 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 just 6%, absent new and higher levels of Helium-4 production, the following supply deficits are possible (in 2026 the supply deficit will be reduced by 8% 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 a 50% 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 20.6% to 42%, with a median of 28%, and all reserves of Helium-4 around the entire World will be fully exhausted in 2026.

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*,	9.94%
10-year annual average revenue growth*,	22.49%
TTM Revenue	$ 141,818,981
1 Year ROE	19.51%
10 Year Average ROE	26.96%
LLR/NPAs>90 days	89.49%
Debt to equity ratio,	24.5%
Current Ratio,#	6.94
Efficiency Ratio, %+	90.30%
Average Assets, University Bank	$ 1,129,062,000
Loans Held for Sale, fair value,	$ 66,672,963
NPAs >90 days	$ 4,144,278
TTM ROA %	1.66%
Tier 1 Capital Ratio %	10.11%
NPAs/Assets %	0.36%
Texas Ratio %	8.43%
NIM %	4.13%
NCOs/Loans %	0.00%
Trailing 12 Months P-E Ratio x	6.2
Price/Book Value Ratio x	103.8%

^#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 $21.63 per share.

Excluding $562,175 of goodwill & other intangibles related to the acquisition of Midwest Loan Services and Ann Arbor Insurance Center, net tangible shareholders’ equity attributable to University Bancorp, Inc. common stock shareholders was $107,181,377 or $20.73 per share (and $132,181,377 or $20.39 on a fully diluted basis) at 3/31/2026. Please note that we view the current market values of our insurance agency and Midwest Loan Services as being substantially in excess of their carrying value including this goodwill.

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; and
100% 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 $35 billion in financial assets for over 180,000 customers, and our 530 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 quality, 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 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.