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Mar 31, 2020
BankUnited Q1 2020 Earnings Report
Reported a net loss due to the impact of COVID-19 and the application of the CECL accounting methodology.
Key Takeaways
BankUnited reported a net loss of $(31.0) million, or $(0.33) per diluted share, for the quarter ended March 31, 2020, compared to net income of $66.0 million, or $0.65 per diluted share, for the quarter ended March 31, 2019. The results were negatively impacted by the application of the Current Expected Credit Losses (CECL) accounting methodology and the expected impact of COVID-19 on the provision for credit losses.
The COVID-19 pandemic had a material impact on the provision for credit losses.
BankUnited's capital and liquidity positions remained strong.
The company focused on supporting customers, communities, and employees during the pandemic.
The company exceeded all regulatory guidelines required to be considered well capitalized.
BankUnited
BankUnited
BankUnited Revenue by Segment
Revenue by Segment
Non-owner occupied CRE Revenue
CapyFin.comConstruction and land Revenue
CapyFin.comOwner occupied CRE Revenue
CapyFin.comCommercial and industrial Revenue
CapyFin.com Forward Guidance
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the Company’s current views with respect to, among other things, future events and financial performance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income