University Bancorp Inc. reported audited earnings results for the year 2011. For the year, the company's net loss was $932,074 versus net income of $169,359 in 2010. After taking into account preferred stock dividends and net income attributable to the minority interests held by outside shareholders in University Bank's subsidiaries, net income attributable to the common stockholders of company was a net loss of $380,384 or $0.089 per share in 2011 versus a net loss of $318,575 or $0.073 per share in 2010. Negative return on common stockholders' equity was 6.4%. Total Revenue increased to $21.3 million from $20.4 million, up 4.1%. For the year 2012, the company is projecting $5.7 million of pre-tax income, and for the first three months of the year, company pre-tax profits were $668,931 ahead of the budget projection. For the first three months of 2012 all of the bank's subsidiaries are performing ahead of the budgeted net income, and the bank's Tier 1 Capital had risen to 9.66%.