University Bancorp Inc. announced audited earnings results for the fourth quarter and year ended December 31, 2015. Net income attributable to company common stockholders in 2015 was $3,139,217 or $0.618 per share compared to $755,181, or $0.16 per share a year ago. Return on equity attributable to common stock shareholders of 30.3% on initial equity of $10,356,429. Return on equity in 2014 was 8.0% on initial equity of $9,492,494.

For the quarter, net income was $183,704 or $0.036 on average shares outstanding of 5,100,899 for the period, versus net loss of $70,947 in the final quarter of 2014 or $0.015 on average shares outstanding of 4,751,260 for the period.

For the year 2016, the company projects annual net income of at least $4,000,000 or $0.79 per share.