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Mar 31, 2021
BankUnited Q1 2021 Earnings Report
BankUnited reported net income and growth in non-interest bearing demand deposits, along with an improved net interest margin.
Key Takeaways
BankUnited reported a net income of $98.8 million, or $1.06 per diluted share, for the quarter ended March 31, 2021, compared to a net loss of $(31.0) million, or $(0.33) per diluted share, for the quarter ended March 31, 2020. Non-interest bearing demand deposits grew by $957 million during the quarter. The net interest margin improved to 2.39%.
Net income was $98.8 million, or $1.06 per diluted share, compared to a net loss of $(31.0) million, or $(0.33) per diluted share, for the same quarter last year.
Net interest income increased by $15.7 million compared to the quarter ended March 31, 2020.
Non-interest bearing demand deposits grew by $957 million during the quarter.
The Company recorded a recovery of the provision for credit losses of $(28.0) million.
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.
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