BankUnited, Inc. reports developments as a bank holding company for BankUnited, N.A., a national bank serving consumer and commercial customers across Florida, New York, Dallas, Atlanta, Morristown, New Jersey, and Charlotte, North Carolina. Its recurring updates cover quarterly earnings, net interest margin, loan and deposit trends, credit metrics, and the mix of commercial real estate, commercial and industrial, residential, mortgage warehouse, franchise, equipment and municipal finance portfolios.
Company news also includes capital actions such as dividends and share repurchase authorizations, investor presentations, and executive leadership changes. Releases commonly frame performance through core commercial lending, non-interest-bearing deposits, funding costs, capital markets revenue, non-performing assets, criticized and classified loans, and provisions for credit losses.
BankUnited (NYSE: BKU) has appointed Lynetta Tipton Steed as executive vice president and head of business banking for Florida and Texas markets. Steed, who brings over 35 years of banking experience, will lead the development and management of strategic objectives for BankUnited's business banking teams, focusing on expanding the company's business banking loan portfolio.
Previously, Steed served as executive vice president at Regions Bank and as business banking executive at Fifth Third Bank. She is a current member and past chairperson of the Consumer Banker Association's Small Business Committee-Washington, D.C., where she has testified before the U.S. House of Representatives' Small Business Committee.
BankUnited, with total assets of $35.2 billion as of December 31, 2024, operates banking centers across Florida, New York metropolitan area, and Dallas, Texas, offering comprehensive banking services to individual and corporate customers.
BankUnited (NYSE: BKU) reported strong financial results for Q4 and full-year 2024. The company achieved net income of $69.3 million ($0.91 per share) in Q4 2024, up from $61.5 million in Q3 2024 and $20.8 million in Q4 2023. Full-year 2024 net income reached $232.5 million ($3.08 per share), compared to $178.7 million in 2023.
Key highlights include: net interest margin expansion to 2.84% in Q4 2024; average cost of total deposits declined to 2.72%; total loans decreased by $101 million in Q4; and the loan-to-deposit ratio improved to 87.2%. The company maintained strong capital positions with CET1 at 12.0%. Non-performing loans increased to $250.7 million (1.03% of total loans), primarily due to one CRE office loan.
The bank's commercial real estate exposure represented 26% of loans and 169% of total risk-based capital, significantly below industry medians for similar-sized banks.
BankUnited (NYSE: BKU) has announced it will release its financial results for Q4 and fiscal year 2024 on Wednesday, January 22, 2025, before market opening. The company will host a conference call at 9:00 a.m. ET featuring Chairman, President and CEO Rajinder P. Singh, CFO Leslie N. Lunak, and COO Thomas M. Cornish.
The earnings release and supplemental information will be available on BankUnited's Investor Relations page. BankUnited, with total assets of $35.8 billion as of September 30, 2024, operates as a national bank headquartered in Miami Lakes, Florida, providing banking services through locations in Florida, New York metropolitan area, Dallas, Texas, and Atlanta.
BankUnited (NYSE:BKU) has announced that its Board of Directors has declared a quarterly cash dividend of $0.29 per common share. The dividend will be paid on January 31, 2025, to stockholders who are on record as of the close of business on January 10, 2025.
BankUnited, Inc. (NYSE: BKU) reported net income of $61.5 million, or $0.81 per diluted share, for Q3 2024, compared to $53.7 million in Q2 2024 and $47.0 million in Q3 2023. The net interest margin expanded to 2.78% from 2.72% in the previous quarter. Total deposits grew by $93 million for Q3 2024, while total loans declined by $230 million. The loan to deposit ratio decreased to 87.6% from 88.7% in Q2 2024. The CET1 ratio was 11.8% at the consolidated level. The company's liquidity remains strong with $15.0 billion in total same-day available liquidity. Book value per common share increased to $37.56 from $36.11 in Q2 2024.
BankUnited, Inc. (NYSE: BKU) has announced that it will release its financial results for the third quarter ended September 30, 2024, on Tuesday, October 22, 2024, before the market opens. The company will host a conference call at 9:00 a.m. ET on the same day to discuss the quarterly results. Chairman, President and CEO Rajinder P. Singh, CFO Leslie N. Lunak, and COO Thomas M. Cornish will lead the call.
Investors can access the earnings release and supplemental information on BankUnited's Investor Relations page prior to the call. The live webcast will be available through the Event Calendar section of the Investor Relations page. Participants are advised to sign in at least 15 minutes before the call. For those unable to attend, an archived webcast will be available approximately two hours after the live event.
BankUnited (NYSE:BKU) has announced a quarterly cash dividend of $0.29 per common share. The dividend will be paid on October 31, 2024 to stockholders of record as of the close of business on October 11, 2024. This announcement demonstrates the company's commitment to returning value to its shareholders through regular dividend payments.
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.