University Bancorp Inc. Announces Audited Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Provides Earnings Guidance for the Year 2016
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.