# University Bancorp Closes Purchase of UIF's Remaining 20% for Cash and Stock

> University Bancorp closed its purchase of the remaining 20% of UIF Corporation for 482,054 shares and $3.91 million in cash, making UIF wholly owned.

- Published: 2026-10-31T00:13:06+00:00
- Section: Mergers & Acquisitions
- Author: News Desk
- URL: https://newsforagent.com/news/2026-10-31/university-bancorp-uif-remaining-stake
- Source: [TradingView](https://www.tradingview.com/news/tradingview:67a64b2af52ee:0-university-bancorp-inc-unib-acquires-remaining-20-of-uif-for-cash-and-stock/)

## Key takeaways

- University Bancorp paid 482,054 new shares plus $3.91 million in cash for the remaining 20% of UIF Corporation.
- The deal added $11.30 million to University Bancorp's equity and about $4 million to Tier 1 capital.
- UIF Corporation, founded in 2006 and based in Southfield, is licensed to provide home financing in 32+ states.

University Bancorp, Inc. closed its purchase of the remaining 20% of [UIF Corporation](https://akta.pro/company-profiles/0008l5r/uif-corporation) for 482,054 new University Bancorp shares plus $3.91 million in cash, making UIF a wholly owned unit of University Bank. [TradingView](https://www.tradingview.com/news/tradingview:67a64b2af52ee:0-university-bancorp-inc-unib-acquires-remaining-20-of-uif-for-cash-and-stock/) carried the announcement on October 30, 2026.

UIF Corporation is a Southfield-based private company founded in 2006 that offers home, commercial, vehicle and community center financing as well as time deposit accounts, according to [akta.pro company records](https://akta.pro/company-data). University Bancorp is the parent of University Bank.

## University Bancorp's Cash-and-Stock Terms for UIF

University Bancorp paid $3.9 million.50 in cash and issued 482,054 shares, [FinanzNachrichten.de](https://www.finanznachrichten.de/nachrichten-2026-10/69994908-university-bancorp-inc-university-bancorp-closes-on-the-acquisition-of-20-of-uif-corporation-for-cash-stock-worth-about-dollar-15-2-million-200.htm) reported on October 31, 2026, describing the consideration as worth about $15.2 million. The same report put the increase in University Bancorp's shareholders' equity at $11.3 million.70 and the rise in University Bank's Tier 1 capital at about $4 million.

The report states that the transaction adds $11.30 million to University Bancorp equity as of September 30, 2026, and about $4 million to Tier 1 capital going forward. UIF equity stood at $76.05 million at September 30, 2026, according to the report. The report describes the closing as completing a previously announced move to fully consolidate a core subsidiary, shifting from an all-stock plan to cash-and-stock at close.

## UIF's Financing Footprint and Licensing

UIF Corporation merged with American Finance House LARIBA effective April 1, 2026, with UIF as the surviving combined platform, according to akta.pro company records. The same records show UIF licensed to provide home financing in 32+ states as of 2026, with additional vehicle financing available in Michigan, Ohio, Illinois and Texas. UIF has been a member of AAOIFI, the Accounting and Auditing Organization for Islamic Financial Institutions, since 2007.

## Minority Buyouts at Scotiabank and Fortum

Scotiabank completed its acquisition of all outstanding ordinary shares of Scotia Group Jamaica Limited on October 30, 2026, through a court-approved Scheme of Arrangement, [Newswire](https://www.newswire.ca/news-releases/scotiabank-closes-previously-announced-transaction-to-fully-acquire-scotia-group-jamaica-limited-898601839.html) reported. The deal paid approximately C$0.6 billion in cash to minority shareholders.

Fortum carried out a compulsory acquisition of the remaining shares in Elmera Group ASA and owns 100% of the company, [news.cision.com](https://news.cision.com/fortum/r/fortum-carried-out-a-compulsory-acquisition-of-the-remaining-shares-in-elmera-group-asa-and-owns-100,c4417880) reported on October 30, 2026. The aggregate consideration is approximately EUR 482 million, at a redemption price of NOK 47 per share paid by November 5, 2026.

## Elmera Consolidation and Delisting Dates

Elmera will be consolidated into Fortum's Consumer Solutions segment from October 31, 2026, with delisting expected in early November, according to news.cision.com. UniCredit SA/NV will merge into UniCredit effective November 1, 2026, [The future of trading](https://capital.com/en-int/news/unicredit-sets-nov-1-effective-date-for-merger-with-unicredit) reported, after the merger deed signed October 28, 2026, was registered with the Milan companies register on October 29, 2026.

## Companies in this story

- [UIF Corporation company profile](https://akta.pro/company-profiles/0008l5r/uif-corporation) · website: https://www.myuif.com

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