United Bank and Trust- Shareholder Meeting Tomorrow

For anyone who does not know, tomorrow there is a United Bank and Trust shareholder meeting.  The details are as follows: Date: September 23, 2010 Time: 4:30 PM Location: Downing Center, 209 E. Russell Road, Tecumseh, MI 49286 If you are able to attend, I encourage you to attend. Summary of the issue:  The main […]

Continue Reading

United Bank and Trust- Quarter 2 Results Comparison

I visited the FDIC website and found the results of Q2 of United Bank and Trust's as compared with other Nationally Chartered banks its size.  If you'd like the spreadsheet, right click and download the spreadsheet here: UBT Q2 2010 Analysis. Here are the highlights:  Loan loss expense) as compared to other banks) was in […]

Continue Reading

United Bank and Trust- Financial Comparison to Other Banks

I have often mentioned that I need to compare UBT’s financial results to the results of other similar sized banks.  As it turns out, the government already does this. At www.fdic.gov, you are able to download a spreadsheet of the bank you’re interested in.  What happens is that the FDIC aggregates all the financial data […]

Continue Reading

United Bank and Trust- How Much Money Do You Need?

United Bank and Trust Management has asked us to authorize the issuance of 20M more shares so that some of them can be sold to raise more capital. The bank mentioned in its proxy statement that it couldn’t say how many shares it would sell or at what price.  So I’ll ask a very basic […]

Continue Reading

United Bank and Trust- 2010 Q2 Results

Today, United Bank and Trust Michigan reported its 2010 Second quarter Financial Results.  Below are the key items and my comments. Income Statement Items Interest Revenue: $10.0M Non Interest Revenue: $3.7M Total Expense (excluding Loan Loss): $10.6M Loan Loss Expense: $8.7 M Net Loss: $3.5M Balance Sheet Items Interest Bearing Deposits with Banks: $54.7M (Down […]

Continue Reading


United Bank and Trust Q2 Results- Delayed

Howdy, Since late July, I have been looking for United Bank and Trust’s Q2 results.  The bank usually posts its results about 30 days after the close of the quarter.  In addition, you’ll remember that the bank must improve its capital ratio (by selling about $8M in stock), and the target date for that (July […]

Continue Reading


United Bank and Trust Capital Raise

United Bank and Trust Must Raise Capital It’s almost the middle of June, we should see some announcement soon about the bank giving us an opportunity to buy a further equity stake in it.  I had thought it had to do this before June 15, maybe the due date is mid July.  It’s almost too […]

Continue Reading

Projected Results of $8M Capital Infusion

Finally I am analyzing the projected results of the $8M capital infusion that the bank will get in the next few weeks. My conclusion is that in the worst case, at Year End, the bank will have a 9.3% capital ratio, which is the minimum required by its Memorandum of Understanding.  I assume that all […]

Continue Reading