University Bancorp - On February 25, 2008, Mr. Nicholas K. Fortson...

University Bancorp - Recent Material Event

Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers.

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Resignation of Principal Officers and Directors

On February 25, 2008, Mr. Nicholas K. Fortson resigned as Chief Financial Officer, effective March 7, 2008. He has agreed to continue on as a Director of the Company’s subsidiaries, University Bank, Midwest Loan Services and University Islamic Financial.

Prior to his resignation, there were no disagreements between Mr. Fortson and any officer or director of the Company. The Company provided a copy of the disclosures it is making in response to this Item 5.02 to Mr. Fortson and Mr. Fortson informed the Company that he agrees with the disclosures. This letter is attached to this Report as an Exhibit.

Item 9.01

Financial Statements and Exhibits.

(c)

Exhibits.

Exhibit No.

Description

10.1

Letter of Resignation, dated February 25, 2008 signed by Nicholas K. Fortson.

10.2

Letter regarding agreement with disclosures, dated February 28, 2008 signed by Nicholas K. Fortson.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.