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Mar 31, 2024
BankUnited Q1 2024 Earnings Report
Reported net income of $48.0 million, improved funding mix, maintained a stable margin, and demonstrated strong credit performance.
Key Takeaways
BankUnited reported a good start to 2024 with net income of $48.0 million, or $0.64 per diluted share. The company saw improvements in its funding mix, a stable net interest margin, and strong credit performance. Total deposits grew, and wholesale funding declined, while the company strategically managed its loan portfolio.
Non-interest bearing demand deposits grew by $404 million, and total deposits grew by $489 million.
Wholesale funding declined by $1.4 billion.
Net interest margin remained relatively stable at 2.57%.
The annualized net charge-off ratio was 0.02%, and the NPA ratio declined to 0.34%.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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