University Bancorp : March 31, 2022 University Bank Call Report

Board of Governors of the Federal Reserve System	OMB Number 7100-0036
Federal Deposit Insurance Corporation	OMB Number 3064-0052
Office of the Comptroller of the Currency	OMB Number 1557-0081
	Approval expires December 31, 2024
	Page 1 of 87

Federal Financial Institutions Examination Council

Consolidated Reports of Condition and Income for a Bank with Domestic Offices Only-FFIEC 041

Report at the close of business March 31, 2022

This report is required by law: 12 U.S.C. §324 (State member banks); 12 U.S.C. §1817 (State nonmember banks); 12 U.S.C. §161 (National banks); and 12 U.S.C. §1464 (Savings associations).

(20220331)

(RCON 9999)

Unless the context indicates otherwise, the term "bank" in this report form refers to both banks and savings associations.

This report form is to be filed by banks with domestic offices only and total consolidated assets of less than $100 billion, except those banks that file the FFIEC 051, and those banks that are advanced approaches institutions for regulatory capital purpose that are required to file the FFIEC 031.

NOTE: Each bank's board of directors and senior management are responsible for establishing and maintaining an effective system of internal control, including controls over the Reports of Condition and Income. The Reports of Condition and Income are to be prepared in accordance with federal regulatory authority instructions. The Reports

of Condition and Income must be signed by the Chief Financial

Officer (CFO) of the reporting bank (or by the individual performing an equivalent function) and attested to by not less than two directors

(trustees) for State nonmember banks and three directors for state member banks, national banks, and savings associations.

I, the undersigned CFO (or equivalent) of the named bank, attest that the Reports of Condition and Income (including the supporting

schedules) for this report date have been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and are true and correct to the best of my knowledge and belief.

We, the undersigned directors (trustees), attest to the correctness of

the Reports of Condition and Income (including the supporting schedules) for this report date and declare that the Reports of Condition and Income have been examined by us and to the best of our knowledge and belief have been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and are true

and correct.

		Director (Trustee)
Signature of Chief Financial Officer (or Equivalent)		Director (Trustee)
Date of Signature		Director (Trustee)

Submission of Reports

Each bank must file its Reports of Condition and Income (Call Report) data by either:

1. Using computer software to prepare its Call Report and then submitting the report data directly to the FFIEC's Central Data Repository (CDR), an Internet-based system for data collection (https://cdr.ffiec.gov/cdr/), or
2. Completing its Call Report in paper form and arranging with

a software vendor or another party to convert the data into the electronic format that can be processed by the CDR. The software vendor or other party then must electronically submit the bank's data file to the CDR.

To fulfill the signature and attestation requirement for the Reports of Condition and Income for this report date, attach your bank's completed signature page (or a photocopy or a computer-generated version of this page) to the hard-copy record of the data file submitted to the CDR that your bank must place in its files.

The appearance of your bank's hard-copy record of the submitted data file need not match exactly the appearance of the FFIEC's sample report forms, but should show at least the caption of each Call Report item and the reported amount.

University Bank

Legal Title of Bank (RSSD 9017)

For technical assistance with submissions to the CDR, please contact the CDR Help Desk by telephone at (888) CDR-3111, by fax at [phone], or by e-mail at [e-mail].

Ann Arbor

City (RSSD 9130)
MI	48104
State Abbreviation (RSSD 9200)	Zip Code (RSSD 9220)

FDIC Certificate Number	14587	Legal Entity Identifier (LEI)
	(RSSD 9050)	(Report only if your institution already has an LEI.)(RCON 9224)

The estimated average burden associated with this information collection is 55.53 hours per respondent and is expected to vary by institution, depending on individual circumstances. Burden estimates include the time for reviewing instructions, gathering and maintaining data in the required form, and completing the information collection, but exclude the time for compiling and maintaining business records in the normal course of a respondent's activities. A Federal agency may not conduct or sponsor, and an organization(or a person) is not required to respond to a collection of information, unless it displays a currently valid OMB control number. Comments concerning the accuracy of this burden estimate and suggestions for reducing this burden should be directed to the Office of Information and Regulatory Affairs, Office of Management and Budget,Washington, DC 20503, and to one of the following: Secretary, Board of Governors of the Federal Reserve System,20th and C Streets, NW, Washington, DC 20551; Legislative and Regulatory Analysis Division, Office of the Comptroller of the Currency, Washington, DC 20219; Assistant Executive Secretary, Federal Deposit Insurance Corporation, Washington, DC 20429.

FFIEC 041

Page 2 of 87

Consolidated Reports of Condition and Income for a Bank with Domestic Offices Only

Table of Contents

Signature Page

1

Contact Information__________________________________ 3,4

Report of Income

Schedule RI - Income Statement _____________________ RI-1, 2, 3, 4

Schedule RI-A - Changes in Bank Equity Capital _______________ RI-5

Schedule RI-B - Charge-offs and Recoveries on Loans and Leases and Changes in Allowances for Credit Losses

Part I. Charge-offs and Recoveries on Loans and Leases_________________________________________________ RI-6, 7

Part II. Changes in Allowances for Credit Losses_______________ RI-8

Schedule RI-C - Disaggregated Data on the Allowance for Loan and Lease Losses (to be completed only by selected banks)

Part I. Disaggregated Data on the Allowance for

Loan and Lease Losses_________________________________ RI-9

Part II. Disaggregated Data on the Allowance for

Credit Losses ____________________________________________ RI-10

Schedule RI-E - Explanations __________________________ RI-11, 12

Report of Condition

Schedule RC - Balance Sheet ____________________________ RC-1, 2

Schedule RC-A - Cash and Balances Due From Depository Institutions

(to be completed only by selected banks) __________________ RC-3

Schedule RC-B - Securities _______________________ RC-3, 4, 5, 6, 7

Schedule RC-C - Loans and Lease Financing Receivables:

Part I. Loans and Leases___________________RC- 8, 9, 10, 11, 12,13

Part II. Loans to Small Businesses and

Small Farms____________________________________ RC-14, 15

Schedule RC-D - Trading Assets and Liabilities

(to be completed only by selected banks) ___________________RC-16

Schedule RC-E - Deposit Liabilities ______________________________ RC-17, 18, 19

Schedule RC-F - Other Assets ___________________________________ RC-20

Schedule RC-G - Other Liabilities ______________________________________ RC-20

Schedule RC-K - Quarterly Averages ________________________ RC-21, 22

Schedule RC-L - Derivatives and

Off-Balance Sheet Items ____________________________RC-23, 24, 25, 26

Schedule RC-M - Memoranda ______________________________ RC-27, 28, 29, 30

Schedule RC-N - Past Due and Nonaccrual

Loans, Leases, and Other Assets __________________ RC-31, 32, 33, 34, 35

Schedule RC-O - Other Data for Deposit

Insurance Assessments __________________________RC-36, 37, 38, 39, 40, 41

Schedule RC-P-1-4 Family Residential Mortgage Banking Activities (to be completed

only by selected banks) ______________________________________ RC-42

Schedule RC-Q- Assets and Liabilities Measured at Fair Value on a Recurring Basis (to

be completed only by selected banks) ____________________ RC-43, 44, 45

Schedule RC-R - Regulatory Capital:

Part I. Regulatory Capital Components

and Ratios________________________________________ RC-46, 47, 48, 49

Part II. Risk-Weighted Assets__________________________________RC - 50,

51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62,63

Schedule RC-S - Servicing, Securitization,

and Asset Sale Activities __________________________________ RC-64, 65

Schedule RC-T - Fiduciary and Related

Services _________________________________________ RC-66, 67, 68, 69

Schedule RC-V - Variable Interest Entities__________________________ RC-70

Optional Narrative Statement Concerning

the Amounts Reported in the consolidated Reports

of Condition and Income ______________________________________ RC-71

For information or assistance, national banks, state nonmember banks, and savings associations should contact the FDIC's Data Collection and Analysis Section, 550 17th Street, NW, Washington, DC 20429, toll free on (800) 688-FDIC(3342), Monday through Friday between 8:00 a.m. and 5:00 p.m., Eastern Time. State member banks should contact their Federal Reserve District Bank.

FFIEC 041

Page 3 of 87

Contact Information for the Reports of Condition and Income

To facilitate communication between the Agencies and the bank concerning the Reports of Condition and Income, please provide contact information for (1) the Chief Financial Officer (or equivalent) of the bank signing the reports for this quarter, and (2) the person at the bank - other than the Chief Financial Officer (or equivalent) - to whom questions about the reports should be directed. If the Chief Financial Officer (or equivalent) is the primary contact for questions about the reports, please provide contact information for another person at the bank who will serve as a secondary contact for communications between the Agencies and the bank concerning the Reports of Condition and Income. Enter "none" for the contact's e-mail address or fax number if not available. Contact information for the Reports of Condition and Income is for the confidential use of the Agencies and will not be released to the public.

Chief Financial Officer (or Equivalent) Signing the Reports

Michael Yeager

Name (TEXT C490)

EVP, Chief Financial Officer

Title (TEXT C491)

[e-mail]

E-mail Address (TEXT C492)

[phone]

Area Code/Phone Number/Extension (TEXT C493)

[phone]

Area Code/FAX Number (TEXT C494)

Other Person to Whom Questions about the Reports Should be Directed

Matthew VerVaecke

Name (TEXT C495)

Assistant Controller

Title (TEXT C496)

[e-mail]

E-mail Address (TEXT 4086)

[phone]

Area Code/Phone Number/Extension (TEXT 8902)

[phone]

Area Code/FAX Number (TEXT 9116)

Chief Executive Officer Contact Information

This information is being requested so the Agencies can distribute notifications about policy initiatives, deposit insurance assessments, and other matters directly to the Chief Executive Officers of reporting institutions. Notifications about other matters may include emergency notifications that may or may not also be sent to the institution's emergency contacts listed below. Please provide contact information for the Chief Executive Officer of the reporting institution. Enter "none" for the Chief Executive Officer's e-mail address or fax number if not available. Chief Executive Officer contact information is for the confidential use of the Agencies and will not be released to the public.

Chief Executive Officer

Stephen Lange Ranzini	(734)	741-5858 Ext. 9226
Name (TEXT FT42 )		Area Code/Phone Number/Extension (TEXT FT43)
[e-mail]	(734)	741-5859
E-mail Address (TEXT FT44)		Area Code/FAX Number (TEXT FT45)

Emergency Contact Information

This information is being requested so the Agencies can distribute critical, time sensitive information to emergency contacts at banks. Please provide primary contact information for a senior official of the bank who has decision-making authority. Also provide information for a secondary contact if available. Enter "none" for the contact's e-mail address or fax number if not available. Emergency contact information is for the confidential use of the Agencies and will not be released to the public.

Primary Contact

Stephen Lange Ranzini

Name (TEXT C366)

CEO, President

Title (TEXT C367)

[e-mail]

E-mail Address (TEXT C368)

[phone] Ext. 9226

Area Code/Phone Number/Extension (TEXT C369)

[phone]

Secondary Contact

Gerhard Naude

Name (TEXT C371)

COO & EVP

Title (TEXT C372)

[e-mail]

E-mail Address (TEXT C373)

[phone] Ext. 9285

Area Code/Phone Number/Extension (TEXT C374)

[phone]

Area Code/FAX Number (TEXT C370)

Area Code/FAX Number (TEXT C375)

FFIEC 041

Page 4 of 87

USA PATRIOT Act Section 314(a) Anti-Money Laundering Contact Information

This information is being requested to identify points-of-contact who are in charge of your bank's USA PATRIOT Act Section 314(a) information requests. Bank personnel listed could be contacted by law enforcement officers or the Financial Crimes Enforcement Network (FinCEN) for additional information related to specific Section 314(a) search requests or other anti-terrorist financing and anti-money laundering matters. Communications sent by FinCEN to the bank for purposes other than Section 314(a) notifications will state the intended purpose and should be directed to the appropriate bank personnel for review. Any disclosure of customer records to law enforcement officers or FinCEN must be done in compliance with applicable law, including the Right to Financial Privacy Act (12 U.S.C. 3401 et seq.).

Please provide information for a primary and secondary contact. Information for a third and fourth contact may be provided at the bank's option. Enter "none" for the contact's e-mail address if not available. This contact information is for the confidential use of the Agencies, FinCEN, and law enforcement officers and will not be released to the public.

Primary Contact

Stacy Shepanski

Name (TEXT C437)

VP, BSA/AML/OFAC Officer

Title (TEXT C438)

[e-mail]

E-mail Address (TEXT C439)

[phone] Ext. 9222

Area Code/Phone Number/Extension (TEXT C440)

Secondary Contact

Paula Boegner

Name (TEXT C442)

VP, Senior BSA Officer & Deposit Ops

Title (TEXT C443)

[e-mail]

E-mail Address (TEXT C444)

[phone] Ext. 9233

Area Code/Phone Number/Extension (TEXT C445)

Third Contact

Veronica Sellers

Name (TEXT C870)

EVP, Chief Risk Officer

Title (TEXT C871)

[e-mail]

E-mail Address (TEXT C872)

[phone]

Area Code/Phone Number/Extension (TEXT C873)

Fourth Contact

Name (TEXT C875)

Title (TEXT C876)

E-mail Address (TEXT C877)

Area Code/Phone Number/Extension (TEXT C878)

University Bank		FFIEC 041
Legal Title of Bank		Page 5 of 87
Ann Arbor		RI-1
City
MI	48104
State	Zip Code
FDIC Certificate Number:	14587

Submitted to CDR on 4/29/2022 at 4:32 PM

Consolidated Report of Income

for the period January 1, 2022 - March 31, 2022 Schedule RI-Income Statement

	Dollar Amounts in Thousands	RIAD	Amount
1. Interest income:
	a. Interest and fee income on loans:
	(1) Loans secured by real estate:
	(a) Loans secured by 1-4 family residential properties	4435	1,951
	(b) All other loans secured by real estate	4436	1,111
	(2) Commercial and industrial loans	4012	62
	(3) Loans to individuals for household, family, and other personal
	expenditures:
	(a) Credit cards	B485	1
	(b) Other (includes revolving credit plans other than credit cards, automobile loans, and
	other consumer loans) ______________________________________________________________________	B486	9
	(4) Not applicable
	(5) All other loans(1)	4058	49
	(6) Total interest and fee income on loans (sum of items 1.a.(1)(a) through 1.a.(5))	4010	3,183
	b. Income from lease financing receivables	4065	0
	c. Interest income on balances due from depository institutions (2)	4115	44
	d. Interest and dividend income on securities:
	(1) U.S. Treasury securities and U.S. Government agency obligations
	(excluding mortgage-backed securities)	B488	0
	(2) Mortgage-backed securities	B489	30
	(3) All other securities (includes securities issued by states and
	political subdivisions in the U.S.)	4060	0
	e. Not applicable
	f. Interest income on federal funds sold and securities purchased under agreements to resell	4020	0
	g. Other interest income	4518	11
	h. Total interest income (sum of items 1.a.(6) through 1.g)	4107	3,268
2. Interest expense:
	a. Interest on deposits:
	(1) Transaction accounts (interest-bearing demand deposits, NOW accounts, ATS accounts,
	and telephone and preauthorized transfer accounts)	4508	1
	(2) Nontransaction accounts:
	(a) Savings deposits (includes MMDAs) ____________________________________________________________	0093	4
	(b) Time deposits of $250,000 or less	HK03	2
	(c) Time deposits of more than $250,000	HK04	9
	b. Expense of federal funds purchased and securities sold
	under agreements to repurchase	4180	0
	c. Interest on trading liabilities and other borrowed money	4185	21
	d. Interest on subordinated notes and debentures________________________________________________________	4200	0
	e. Total interest expense (sum of items 2.a through 2.d)	4073	37

1. Includes interest and fee income on "Loans to depository institutions and acceptances of other banks," "Loans to finance agricultural production and other loans to farmers," "Obligations (other than securities and leases) of states and political subdivisions in the U.S.," and "Loans to nondepository financial institutions and other loans."
2. Includes interest income on time certificates of deposit not held for trading.

1.a.1.a

1.a.1.b

1.a.2

1.a.3.a

1.a.3.b

1.a.5

1.a.6

1.b

1.c

1.d.1

1.d.2

1.d.3

1.f

1.g

1.h

2.a.1

2.a.2.a

2.a.2.b

2.a.2.c

2.b

2.c

2.d

2.e