UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(CHECK ONE): [ ]Form 10-K [ ]Form 20-F [ ]Form 11-K [X]Form 10-Q [ ]Form N-SAR
For Period Ended: March 31, 2005
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended: ----------------------------
Nothing in this form shall be construed to imply that the Commission
has verified any information contained herein.
If the notification relates to a portion of the filing checked above, identify
the item(s) to which the notification relates:
PART I -- REGISTRANT INFORMATION
University Bancorp, Inc.
Full Name of Registrant
Former Name if Applicable
959 Maiden Lane
Address of Principal Executive Office (Street and Number)
Ann Arbor, Michigan 48105
City, State and Zip Code
PART II -- RULES 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate.)
(a) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or
expense;
(b) The subject annual report, semi-annual report, transition
report on Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion
thereof, will be filed on or before the 15th calendar day
following the
[X] prescribed due date; or the subject quarterly report or
transition report on Form 10-Q, or portion thereof will be
filed on or before the fifth calendar day following the
prescribed due date; and
(c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
PART III--NARRATIVE
State below in reasonable detail the reasons why Form 10-K, 20-F, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed period. (Attach Extra Sheets if Needed)
The registrant recently changed its auditors, effective May 12, 2005. The Audit
Committee appointed UHY, LLP as the auditors of University Bancorp, Inc.
Formerly, the registrant's auditors were Grant Thornton. The audit reports of
Grant Thornton LLP on the consolidated financial statements of the Registrant as
of December 31, 2004 and for each of the three years then ended, did not contain
an adverse opinion or a disclaimer of opinion and were not qualified or modified
as to uncertainty, audit scope, or accounting principles. During the two most
recent calendar years ended December 31, 2004 and 2003, and from December 31,
2004 through the effective date of Grant Thornton's dismissal (the "Relevant
Period"), there have been no disagreements between the Registrant and Grant
Thornton on any matters of accounting principle or practices, financial
statement disclosure, or auditing scope or procedure, which disagreements, if
not resolved to their satisfaction, would have caused Grant Thornton to make
reference to the subject matter of such disagreements in connection with its
reports. Also, during the Relevant Period, there were no reportable events as
described in Item 304(a)(1)(v) ("Reportable Events") of Regulation S-K issued by
the Securities and Exchange Commission (the "Commission").
PART IV--OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
Stephen L. Ranzini (734) 741-5858
------------------------- --------------- ----------------------
(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of
the Securities Exchange Act of 1934 or Section 30 of the Investment
Company Act of 1940 during the preceding 12 months or for such shorter
period that the registrant was required to file such report(s) been
filed? If the answer is no, identify report(s).
[X] Yes [ ] No
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(3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be
reflected by the earnings statements to be included in the subject
report or portion thereof?
[ ] Yes [X] No
If so, attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the reasons
why a reasonable estimate of the results cannot be made.
University Bancorp, Inc.
------------------------
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date: May 16, 2005 By: /s/ Stephen L. Ranzini
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Stephen L. Ranzini
Chief Executive Officer
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