UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date
of Report (Date of earliest event reported) March 31, 2005
Commission file number 0-16023
UNIVERSITY BANCORP, INC.
(Exact name of registrant as specified in its charter)
Delaware 38-2929531
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(State or other jurisdiction of (I.R.S. Employer incorporation)
Identification No.
959 Maiden Lane, Ann Arbor, Michigan 48105
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (734) 741-5858
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Item 4.01 Change in Registrant's Certifying Accountants
(a) Effective May 12, 2005, University Bancorp, Inc. (the "Registrant")
dismissed Grant Thornton LLP ("Grant Thornton") as its independent registered
public accounting firm. The dismissal of Grant Thornton was approved by the
Registrant's Audit Committee on May 12, 2005.
The audit reports of Grant Thornton LLP on the consolidated financial statements
of the Registrant as of and for the years ended December 31, 2004 and 2003, and
Grant Thornton's report on management's assessment of internal control over
financial reporting as of December 31, 2004 and the effectiveness of internal
control over financial reporting as of December 31, 2004, 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").
The Registrant has provided Grant Thornton with a copy of the foregoing
disclosures and has requested, pursuant to the rules of the Commission, that
Grant Thornton provide the Registrant with a letter addressed to the Commission
stating whether Grant Thornton agrees with the statements set forth in this
subsection (a) and, if not, stating the respects in which it does not agree. The
Registrant has provided a copy of the foregoing statements to Grant Thornton.
Attached as Exhibit 4.01 is a copy of Grant Thornton's letter to the Securities
and Exchange Commission, dated May 17, 2005.
(b) Effective May 12, 2005, the Registrant engaged UHY LLP as its independent
registered public accounting firm to audit the Registrant's financial statements
for its current fiscal year, subject to satisfactory completion by UHY LLP of
its standard client acceptance procedures. The engagement of UHY LLP was
approved by the Registrant's Audit Committee on May 12, 2005.
During the Relevant Period, neither the Registrant nor (to the Registrant's
knowledge) anyone acting on behalf of the Registrant consulted with UHY LLP
regarding either (i) the application of accounting principles to a specified
transaction (either completed or proposed), (ii) the type of audit opinion that
might be rendered on the Registrant's financial statements, or (iii) any
Reportable Event.
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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University Bancorp, Inc.
Date: May 25, 2005 /s/ Stephen Lange Ranzini
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Stephen Lange Ranzini
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