BKU · BankUnited, Inc.

BankUnited, Inc. reported Q1 2026 results reflecting typical first-quarter seasonality, with net income of $61.9 million and diluted EPS of $0.83, down from Q4 2025's $69.3 million and $0.90 but up from Q1 2025's $58.5 million and $0.78. Chairman Rajinder Singh noted the company continues to gather market share despite the slow quarter, positioning for improved profitability. Net interest income fell $9 million quarter-over-quarter to $249 million due to variable rate assets repricing faster than funding costs and seasonal NIDDA decline increasing reliance on higher-cost wholesale funding, though NIM improved 18 bps year-over-year to 2.99%. Non-interest income dropped $5.3 million from prior quarter on lower capital markets revenue but rose $2.4 million year-over-year from a $3.3 million investment securities gain. Non-interest expense declined $5.4 million quarter-over-quarter but increased $7.2 million year-over-year on higher compensation. Provision for credit losses was $24.6 million, driven by specific reserves on two C&I loans amid improving asset quality, with criticized loans down 12% and NPLs down 26% quarter-over-quarter. Balance sheet showed total assets at $35.4 billion, non-brokered deposits up $277 million quarter-over-quarter and $1.4 billion year-over-year, NIDDA at 30% of deposits, and core loans up modestly. Credit metrics strengthened with ACL/NPL coverage at 75.90%. Capital returns included $60 million in share repurchases and a 6% dividend hike to $0.33 per share, supported by CET1 at 12.2%. No forward guidance provided.