University Bancorp, Inc. reported earnings results for the first quarter of 2018. For the quarter, the company reported net income of $625,247 or $0.12 per share. Net income in the first quarter of each year is usually seasonally slow due to the lower pace of mortgage originations. The company had an annualized return on equity attributable to common stock shareholders of 10.7% on initial equity of $23,376,660.

Management currently projects budgeted annual net income in 2018 of at least $5,366,728 or $1.03 per share.