ANN ARBOR, MI / ACCESS Newswire / December 16, 2025 / University Bancorp, Inc. (OTCQB:UNIB or "UNIB") announced that University Bank, a wholly-owned subsidiary of UNIB, will acquire effective on December 31, 2025 an additional 37.4999% of the shares of Credit Union Trust for $3.75 million, increasing its ownership to 49.9999%. The acquisition is a key part of University Bank' wealth management strategy. All regulatory approvals and all paperwork required for the share acquisition have been completed and the closing has been scheduled for month-end to simplify the post-acquisition accounting requirements under GAAP.
Credit Union Trust, based in Troy, Michigan, is a full-service trust bank and credit union service organization (CUSO) which assists individuals, families and companies with trust and estate administration, wealth management and education. As of 11/30/2025 Credit Union Trust had $134.7 million in Assets Under Management. Unlike the regional and mega banks that provide largely centralized services and contact centers, Credit Union Trust provides direct personal services with trust officers and advisors who are based locally and available to its clients at any time.
Credit Union Trust is led by its President & CEO, Jordan Summers, an accomplished trust officer who has led Credit Union Trust since March 2021. "We are very excited about University Bank's increased investment in Credit Union Trust and its plans to accelerate our growth," Summers stated. Prior to joining Credit Union Trust as President and CEO, Jordan Summers served as Chief Fiduciary Officer and Market President for a Michigan-based regional bank.
"We are uniquely positioned to assist individuals and families by delivering a full suite of trust solutions," according to Summers. "With the team's expertise, our credit union partnerships, the support of University Bank and relationships with legal, accounting, and other practitioners across our footprint, we have the perfect opportunity to help people improve their lives and increase their peace of mind."
Summers is actively involved in both estate planning and Michigan community organizations. A licensed attorney, he currently serves on the Michigan Bankers Association's Trust Executive and Trust Counsel Committees. He also serves on the board of the Midland Business Alliance and the Chippewa Nature Center. Summers received his BBA from Northwood University, his MBA from the DeVos Graduate School at Northwood University, and his JD from Wayne State University.
The head of University Bank's Wealth Management division, Ben Bolen, has earned the elite CFP designation. As a Certified Financial Planner™, he provides boutique planning and consulting services that integrate financial, aging, caregiving and legacy planning, including trusts. Ben is available to consult with members of the public, and there is no charge for an initial meeting.
Ben Bolen's book, "Clarity Before Crisis: Beyond Financial, Legal, and Healthcare Guidance for Aging, Caregiving, and Family Legacy", was recently published. It helps individuals begin organizing the practical and relational aspects of aging, caregiving, and family planning. You can explore these topics in detail at www.claritybeforecrisis.com.
As the U.S. population continues to age, many of the families University Bank serves already have someone helping with their investments and may have traditional legal documents in place. What is often missing are the family dynamics, caregiving realities, communication breakdowns, and emotional challenges that can derail even well-structured plans. Ben's book and wealth management practice are designed to open those conversations in a safe and accessible way. Ben can make those conversations more approachable for our customers.
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/.
About University Bank's Wealth Management Services in association with LPL
University Bank's securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. University Bank and University Investment Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using University Investment Services, and may also be employees of University Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, University Bank or University Investment Services.
The LPL Financial registered representative may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
Securities and insurance offered through LPL or its affiliates are:
Not Insured by FDIC or Any Other Government Agency
Not Bank Guaranteed
Not Bank Deposits or Obligations
May Lose Value
University Bank provides referrals to financial professionals of LPL Financial LLC ("LPL") pursuant to an agreement that allows LPL to pay the Financial Institution for these referrals. This creates an incentive for the Financial Institution to make these referrals, resulting in a conflict of interest. The Financial Institution is not a current client of LPL for brokerage or advisory services. Please visit https://www.lpl.com/disclosures/is-lpl-relationship-disclosure.html
About UNIB
When UNIB announced its 2024 financial results, we noted the following key accomplishments:
Revenue in 2024 grew 18.65%. Our 10-year average revenue growth was 18.70%;
Return on Equity (ROE) for 2024 was 12.5%. Our 10-year average ROE was 25.97%;
Shareholders' equity at University Bank exceeded $100 million for the first time ever.
Shareholders' equity at UNIB as of 9/30/2025 was $98,317,449.51 (excluding minority interest of $12,668,501), or $19.02 per share, based on common shares outstanding as of September 30, 2025 of 5,169,518.
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/.
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. 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 183,000 customers, and our 533 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 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:
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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, 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. 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 GPB, BOW and LARIBA transactions 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.
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