Bankunited Inc Stock Price, News & Analysis

BankUnited Inc. (NYSE: BKU) has appointed Beth Hosen as executive vice president and head of treasury management, based in New York City. With 30 years of experience in commercial, government, and consumer banking, Hosen will oversee the company's treasury management sales, service, product, and commercial card business. She joins BankUnited from Wells Fargo, where she was managing director of segment strategy and client advisory. Previously, Hosen held various leadership positions at JPMorgan Chase Bank, N.A.

Lisa Shim, BankUnited's senior executive vice president and head of technology and innovation, expressed confidence in Hosen's ability to contribute to the growth of the company's treasury solutions practice. BankUnited, with total assets of $35.4 billion as of June 30, 2024, operates in Florida, New York, Dallas, and Atlanta, offering a full range of banking and related services to individual and corporate customers.

BankUnited (NYSE: BKU) has launched the Small Business, Big Dreams: Women in Business Challenge & Summit, offering women business owners a chance to win $15,000. The event, culminating on October 8 in Fort Lauderdale, includes inspirational talks and a live pitch competition. Key features:

- $15,000 grand prize, with additional prizes of $5,000 and $2,500
- Open to women-owned businesses in Florida, New York, or Texas
- Keynote address by Ann Marie Sorrell, CEO of The Mosaic Group
- Panel discussion with successful women business leaders
- Contest closes August 30, 2024
- Summit tickets are $25 per person

The initiative aligns with BankUnited's commitment to supporting women entrepreneurs and fostering business growth.

BankUnited, Inc. (NYSE: BKU) reported net income of $53.7 million, or $0.72 per diluted share, for Q2 2024. Key highlights include:

- Net interest margin expanded by 0.15% to 2.72%
- Average cost of total deposits declined by 0.09% to 3.09%
- Non-brokered deposits grew by $1.3 billion
- Non-interest bearing demand deposits grew by $826 million
- Total loans grew by $402 million
- Loan to deposit ratio declined to 88.7%

The company maintained strong liquidity with $14.9 billion in total same-day available liquidity and robust capital position with CET1 at 11.6%. Credit trends remained largely favorable with an annualized net charge-off ratio of 0.12% for H1 2024.

BankUnited (NYSE: BKU) will announce its financial results for the quarter ending June 30, 2024, on July 18, 2024, before the market opens. A conference call to discuss the results will be held at 9:00 a.m. ET on the same day, featuring key executives including CEO Rajinder P. Singh, CFO Leslie N. Lunak, and COO Thomas M. Cornish. The earnings release and supplementary information will be available on BankUnited's Investor Relations page prior to the call.

The live webcast can be accessed through the Investor Relations page's Event Calendar section. Participants should register at least 15 minutes in advance and will receive a unique PIN for telephone access. An archived version of the webcast will be available approximately two hours after the live event.

BankUnited, based in Miami Lakes, Florida, had total assets of $35.1 billion as of March 31, 2024. The bank operates in Florida, the New York metropolitan area, Dallas, Texas, and offers wholesale banking services through an Atlanta office focused on the Southeast region.

BankUnited (NYSE:BKU) has declared a quarterly cash dividend of $0.29 per common share, approved by its Board of Directors. This dividend will be payable on July 31, 2024, to shareholders recorded by the close of business on July 12, 2024.

BankUnited (NYSE: BKU) has appointed Ernie Diaz as Senior Executive Vice President to oversee their consumer, small business, and commercial banking operations, effective May 29, 2024. Diaz, with nearly 40 years of industry experience, joins from TD Bank where he held significant leadership roles, including EVP handling a vast distribution network. Diaz will be responsible for BankUnited's sales and branch strategies across Florida, Texas, and New York. The bank aims to leverage his expertise to enhance growth and service delivery. BankUnited, with assets of $35.1 billion as of March 31, 2024, is recognized as one of the World’s Most Trustworthy Companies and operates in multiple states with extensive digital banking services.