University Bancorp 2020 Net Income $28,002,817, $5.39 Per Share; #1 Publicly Traded Bank in U.S. With ROAE of 65.4% ACCESSWIRE 31 Jul 2021, 06:19 GMT+10 ANN ARBOR, MI / ACCESSWIRE / July 30, 2021 / University Bancorp, Inc. (OTCQB:UNIB) announced that it had audited net income of $28,002,817 in 2020, of which $27,702,817 was attributable to University Bancorp, Inc. common stockholders, $5.39 per share on average shares outstanding of 5,141,148 for the year, versus audited net income of $3,616,824 in 2019, of which $3,316,824 was attributable to University Bancorp, Inc. common stockholders, $0.64 per share on average shares outstanding of 5,203,967 for 2019. For 2020, University Bancorp, Inc. (the Company) had a return on equity attributable to common stock shareholders of 97.0% on initial equity attributable to common stock shareholders of $28,552,142. Return on equity attributable to common stock in 2019 was 13.2% on initial equity of $25,189,720. Shareholders' equity attributable to University Bancorp, Inc. common stock shareholders at December 31, 2020 was $51,594,523 (excluding minority interest of $6,092,879 and excluding $5,000,000 of equity attributable to the 6% Series 5 Preferred Stock, which is convertible at $10 per share), or $10.83 per share, based on common shares outstanding at December 31, 2020 of 4,765,518, up from $5.49 per share at the end of 2019.