Bankunited ( (BKU) ) has released its Q1 earnings. Here is a breakdown of the information Bankunited presented to its investors.
BankUnited, Inc. is a bank holding company headquartered in Miami Lakes, Florida, providing a range of banking services to individual and corporate customers across Florida, the New York metropolitan area, and Dallas, Texas, with additional commercial lending and deposit products offered through national platforms.
In its first-quarter 2025 earnings report, BankUnited, Inc. announced a net income of $58.5 million, or $0.78 per diluted share, marking a decrease from the previous quarter but an increase compared to the same period last year. The company highlighted improvements in its funding profile and a robust capital position amidst a challenging macroeconomic environment.
Key financial metrics for the quarter included a 5.9% growth in non-interest bearing demand deposits, a decline in wholesale funding by $1.1 billion, and a decrease in total loans by $308 million. The net interest margin slightly decreased to 2.81%, and the average cost of total deposits fell to 2.58%. Despite a decrease in net interest income by $6.1 million from the prior quarter, the company increased its common stock dividend by $0.02 per share.
The company’s asset quality remained stable, with a non-performing assets ratio of 0.76% and an allowance for credit losses to total loans ratio of 0.92%. BankUnited’s capital ratios, including a CET1 of 12.2%, underscore its strong capital position, with tangible book value per share rising to $37.48.
Looking ahead, BankUnited’s management remains cautiously optimistic about its prospects for the year, focusing on strategic initiatives to navigate the uncertain economic landscape while maintaining a strong balance sheet and capital position.