Welcome to our dedicated page for University Bancorp news (Ticker: $UNIB), a resource for investors and traders seeking the latest updates and insights on University Bancorp stock.
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Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of University Bancorp's position in the market.
University Bancorp (OTCQB: UNIB) reported a 2023 net income of $6,799,619, with $5,426,558 attributable to common shareholders, equating to $1.07 per share. This marks an increase from 2022's $4,212,873 net income. The return on equity for common shareholders rose to 6.9% from 4.9%. Equity per share increased to $16.24. The shift to holding more residential loans in the portfolio, alongside higher mortgage loan yields, boosted the net interest margin but impacted short-term gains due to associated origination costs. Notable expenses included a $1.7 million valuation decline in Mortgage Servicing Rights and a $1.7 million loss in the securities portfolio. UNIB's total assets reached $931.63 million, with the Tier 1 Capital Ratio at 10.05% and a 2023 revenue growth of 12.2% compared to 2022.