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University Bancorp (University Bancorp) Effective Interest Rate on Debt % : 14.79% (As of Dec. 2023)


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What is University Bancorp Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. University Bancorp's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was $16.50 Mil. University Bancorp's average total debt for the quarter that ended in Dec. 2023 was $111.59 Mil. Therefore, University Bancorp's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 14.79%.


University Bancorp Effective Interest Rate on Debt % Historical Data

The historical data trend for University Bancorp's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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University Bancorp Effective Interest Rate on Debt % Chart

University Bancorp Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Effective Interest Rate on Debt %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.86 1.30 0.70 3.50 14.79

University Bancorp Semi-Annual Data
Dec99 Dec00 Dec01 Dec02 Dec03 Dec04 Dec05 Dec06 Dec07 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Effective Interest Rate on Debt % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.86 1.30 0.70 3.50 14.79

Competitive Comparison of University Bancorp's Effective Interest Rate on Debt %

For the Banks - Regional subindustry, University Bancorp's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


University Bancorp's Effective Interest Rate on Debt % Distribution in the Banks Industry

For the Banks industry and Financial Services sector, University Bancorp's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where University Bancorp's Effective Interest Rate on Debt % falls into.



University Bancorp Effective Interest Rate on Debt % Calculation

University Bancorp's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: Dec. 2022 )+Total Debt  (A: Dec. 2023 ))/ count )
=-1  *  -16.503/( (81.757+141.431)/ 2 )
=-1  *  -16.503/111.594
=14.79 %

where

Total Debt  (A: Dec. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=81.757 + 0
=81.757

Total Debt  (A: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=140.431 + 1
=141.431

University Bancorp's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: Dec. 2022 )+Total Debt  (Q: Dec. 2023 ))/ count )
=-1  *  -16.503/( (81.757+141.431)/ 2 )
=-1  *  -16.503/111.594
=14.79 %

where

Total Debt  (Q: Dec. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=81.757 + 0
=81.757

Total Debt  (Q: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=140.431 + 1
=141.431

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is one times the annual (Dec. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.


University Bancorp  (OTCPK:UNIB) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.


University Bancorp Effective Interest Rate on Debt % Related Terms

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University Bancorp (University Bancorp) Business Description

Industry
Traded in Other Exchanges
N/A
Address
2015 Washtenaw Avenue, Ann Arbor, MI, USA, 48104
University Bancorp Inc is a holding company of University Bank (the Bank). It is a full-service community bank, which offers all customary banking services, including the acceptance of checking, savings and time deposits. The bank also makes commercial, real estate, personal, home improvement, automotive and another installment, credit card, and consumer loans, and provides fee-based services such as foreign currency exchange. The company's customer base is primarily located in the Ann Arbor, Michigan metropolitan statistical area. Its segments include The Bank & Midwest (community banking & servicing), ULG (mortgage banking), and UIF (faith-based lending).
Executives
Nicholas K Fortson officer: CFO 959 MAIDEN LANE, ANN ARBOR MI 48105
Jove Corp other: Affiliate of majority owner 3220 COOLIDGE HWY, BERKLEY MI 48072
Joseph Lange Ranzini director, 10 percent owner 959 MAIDEN LANE, ANN ARBOR MI 48105
Stephen Lange Ranzini director, 10 percent owner, officer: President & CEO 959 MAIDEN LANE, ANN ARBOR MI 48105
Mildred Lange Ranzini 10 percent owner 43 SWEETWATER, BELLE MEAD NJ 08502