UNIVERSITY BANCORP Business Summary

University Bancorp Inc. (UNIB) operates a highly diversified financial services model through its primary subsidiary, University Bank, generating revenue through a combination of net interest income and significant fee-based streams from specialized national niches. The company’s business is structured into five core segments: University Islamic Financial (the premier U.S. provider of Sharia-compliant products), University Lending Group (retail mortgage origination), Midwest Loan Services (a subservicer managing over $38 billion for credit unions), Mortgage Warehouse Lending, and traditional Community Banking. This multi-pillar approach allows UNIB to maintain high returns on equity by leveraging non-interest income from mortgage servicing rights and faith-based financial contracts. Direct competitors include Mercantile Bank Corporation, Independent Bank Corporation, and Horizon Bancorp, Inc. UNIB distinguishes itself by occupying a dominant, first-mover position in the domestic Islamic finance market and providing essential back-office infrastructure to the credit union sector. The institution is led by President and CEO Stephen Lange Ranzini, who has steered the company since 1988 after acquiring a controlling interest with his family. A Yale University alumnus, Ranzini is a recognized authority on payment systems and regulatory standards, having served on the Federal Reserve’s Secure Payments Steering Committee and the board of ANSI ASC X9. The executive leadership team includes Gerhard Naude (EVP & COO) and Veronica Sellers (EVP & Chief Risk Officer), with Joseph Lange Ranzini serving as Chairman of the Board. In late 2025, the company secured a transformative $25 million equity investment from Castle Creek Capital to fund the strategic acquisitions of Greater Pacific Bancshares and American Finance House LARIBA. This institutional backing, paired with the Ranzini family’s long-standing control, supports the bank’s ongoing transition into a national platform for wealth management and specialized faith-based financial services.