University Bancorp Inc. reported unaudited earnings results for the third quarter and nine months of 2016. For the period, the company reported that it had net income attributable to common stock shareholders in third quarter of 2016 of $1,500,414 or $0.294 per share on average shares outstanding of 5,100,899 for the third quarter, versus an unaudited net income of $703,623 or $0.138 per share on average shares outstanding of 5,100,899 for third quarter of 2015.

Net income attributable to company common stock shareholders for the first nine months of 2016 was $2,267,451 or $0.445 per share on average shares outstanding of 5,100,899 for the first nine months, versus an unaudited net income of $2,955,513 or $0.580 per share on average shares outstanding of 5,093,015.

The company currently projects budgeted annual net income in 2016 of at least $3,630,000 or $0.71 per share.