Summary of UNIVERSITY BANCORP INC /DE/

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On December 31, 2008, University Bancorp, Inc. (the "Company") issued a press release announcing that it had notified the Nasdaq Stock Market of its intent to voluntarily delist its common shares from the Nasdaq Capital Market, and that it intends to voluntarily deregister its common shares under the Securities Exchange Act of 1934, as amended, and cease filing reports with the Securities and Exchange Commission. The Board of Directors of the Company approved the delisting of its common shares from the Nasdaq Capital Market and deregistration of its common shares under the Securities Exchange Act of 1934 at a meeting of the Board of Directors held on December 31, 2008. The Company has fewer than 300 record holders of its common shares, and therefore is eligible to deregister its common shares under the Securities Exchange Act of 1934, and exit the Securities and Exchange Commissions periodic reporting system.

The Company expects that it will file with the Securities and Exchange Commission a Form 25 relating to the delisting of its common shares on or about January 12, 2009 Accordingly, the Company expects that the last day of trading of its common shares on the Nasdaq Capital Market will be on or about January 12, 2009. On the effective date of the delisting, the Company plans to file a Form 15 to deregister its common shares under Section 12(g) of the Securities Exchange Act of 1934. Upon filing of the Form 15, the Company's obligation to file periodic reports with the SEC, including Forms 10-K, 10-Q and 8-K, will be immediately suspended. The Company expects that the deregistration of its common shares will become effective 90 days after the filing of the Form 15 with the SEC.

The Company intends to continue reporting to its shareholders as required by Delaware law and the Company's bylaws.

A copy of the complete text of the Company's December 31, 2008, press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.