SOURCE: University Bancorp

July 10, 2006 15:00 ET

University Bancorp Audio Interview on WallSt.net

ANN ARBOR, MI -- (MARKET WIRE) -- July 10, 2006 -- University Bancorp, Inc. (NASDAQ: UNIB) announces that an audio interview with its President & CEO, Stephen Lange Ranzini, has been posted on WallSt.Net. The interview is a detailed and very informative discussion of the current strategy, management and business units of the Company. Existing subscribers can access the interview at http://www.wallst.net/audio/audio.asp?symbol=UNIB&id=2257. Members of the public who are not yet subscribers to WallSt.Net can access the interview at http://www.wallst.net/audio/audio.asp under the New Interviews tab under NASDAQ on the left hand side of the page, or the Search Archives box at the bottom of that page.

Ann Arbor-based University Bancorp owns 100% of University Bank which manages a total of over $3.75 billion in assets. University Bank is an FDIC-insured, locally owned and managed Community Bank, and is the only financial institution headquartered in Washtenaw County rated "Outstanding" by the FDIC for Community Service and Community Reinvestment. The Community Banking Division focuses on local businesses, minorities and the non-profit communities primarily serving the cities of Ann Arbor and Ypsilanti of Washtenaw County. Other Community Banking Division specialties include highly competitive deposit products for business owners, residential mortgages, commercial real estate lending and insurance, investments and money management through its wholly-owned subsidiary University Insurance & Investments, Inc. University Bank also engages in Islamic Banking through 80%-owned University Islamic Financial Corporation, the first and only Islamic Banking subsidiary of a bank in the U.S. University Islamic offers mortgage alternative financing, the only FDIC-insured Islamic deposits (offered through University Bank) and Islamic equity mutual funds (offered through University Insurance & Investments). University Bank also specializes in mortgage subservicing and mortgage origination primarily serving over 230 credit unions (representing 2.4% of all credit unions nationwide) through its Houghton-based 80%-owned subsidiary, Midwest Loan Services.

Any prediction of the future is inherently not assured. Investors should read the risk factors listed on pages 22 through 24 in the Company's report on Form 10K for the year ended December 31, 2005 and any prediction in this release is intended to be covered by the Safe Harbor provisions of Section 21E of the Securities Exchange Act of 1934.

Contact Information

  • Contact:
    Stephen Lange Ranzini
    President and CEO
    Phone: 734-741-5858, Ext. 226
    Email: Email Contact