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Mar 31, 2023
BankUnited Q1 2023 Earnings Report
Reported net income of $52.9 million, or $0.70 per diluted share.
Key Takeaways
BankUnited reported a net income of $52.9 million, or $0.70 per diluted share, for the quarter ended March 31, 2023. The bank's liquidity position remained strong with $9.4 billion in available liquidity at the end of the quarter, increasing to $12.3 billion by April 21, 2023. While deposits declined by $1.79 billion during the quarter, deposit flows stabilized towards the end of March.
Liquidity position is strong with $9.4 billion available at March 31, 2023, increasing to $12.3 billion by April 21, 2023.
Total deposits declined by $1.79 billion during the quarter ended March 31, 2023, but deposit flows stabilized.
Net interest margin was 2.62% for the quarter ended March 31, 2023, impacted by an increase in the cost of funds.
Common stock dividend increased by $0.02 per share to $0.27 per common share.
BankUnited
BankUnited
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.