Bankunited, Inc. - BKU STOCK NEWS

BankUnited Inc. (NYSE: BKU) has announced the election of Dr. Germaine Smith-Baugh to its Board of Directors. Dr. Baugh, with over 25 years of experience in executive leadership and nonprofit management, is the President and CEO of the Urban League of Broward County. Her expertise includes organizational development and enhancing equity and inclusion in the business community.

Under Dr. Baugh's leadership, the Urban League expanded to include the Entrepreneurship Center and Small Business Loan Fund, now designated as a Certified Development Financial by the U.S. Department of Treasury. She serves on various boards and has received numerous awards, including induction into the JM Family Enterprises African American Achievers and Broward County Women's Hall of Fame.

Dr. Baugh joins BankUnited's board alongside Chairman and CEO Rajinder P. Singh and nine other directors. BankUnited, with total assets of $37.2 billion as of March 31, 2023, operates in Florida, New York, Texas, and Atlanta.

BankUnited, Inc. (NYSE: BKU) reported a net income of $52.9 million for Q1 2023, down from $64.2 million in Q4 2022 and $67.2 million in Q1 2022. The diluted earnings per share decreased to $0.70 from $0.82 and $0.79 for the same periods, respectively. Total deposits declined by $1.79 billion during the quarter, including a $671 million drop in non-interest bearing demand deposits. The Bank's total liquidity available rose to $12.3 billion by April 21, 2023. The net interest margin fell to 2.62%, and net interest income decreased by $15.2 million quarter-over-quarter. The company declared an 8% dividend increase to $0.27 per share and repurchased 1.6 million shares for $55 million. The provision for credit losses was $19.8 million, up from $39.6 million in the prior quarter.

BankUnited, Inc. (NYSE: BKU) is set to release its financial results for the quarter ended March 31, 2023 on April 25, 2023, before market opening. A conference call will follow at 9:00 a.m. ET featuring key executives including Chairman Rajinder P. Singh and CFO Leslie N. Lunak. Interested parties can access the earnings release and additional data on BankUnited’s Investor Relations page. The company also provides banking services in Florida, New York, and Texas, with total assets reported at $37.0 billion as of December 31, 2023. Archived webcasts will be available post-event for those unable to attend live.

BankUnited, N.A. has announced the expansion of its corporate banking division in Florida, hiring three experienced bankers to enhance services for middle-market and large corporate clients. Jeffrey Brandt, Eric Boritz, and Ilian Obregon, all previously from HSBC Bank USA, bring over two decades of combined experience. The new team will focus on business development and loan origination. This move underscores BankUnited's commitment to growth and servicing a diverse client base in the region. As of December 31, 2022, BankUnited reported total assets of $37.0 billion.

BankUnited, Inc. (NYSE:BKU) has announced a quarterly cash dividend increase of $0.27 per common share, up 8% from the previous $0.25. This dividend will be payable on April 28, 2023, to stockholders of record as of April 12, 2023. As of December 31, 2022, BankUnited reported total assets of $37 billion.

BankUnited, Inc. (NYSE: BKU) announced financial results for the quarter and year ending December 31, 2022. The company reported a net income of $64.2 million ($0.82 per diluted share) for Q4 2022, down from $87.9 million in Q3 2022 and $125.3 million in Q4 2021. For the full year 2022, net income was $285.0 million ($3.54 per diluted share), compared to $415.0 million in 2021. Key metrics include a 15% growth in net interest income year-over-year, a net interest margin of 2.81%, and total loans growing by $619 million in Q4. The company also experienced a provision for credit losses of $39.6 million.