BankUnited : Q1 2026 Earnings Supplemental Information

Published: 2026-04-22 07:24:10 ET BKU

Published on 04/22/2026 at 07:24 am EDT

1Q 2026 - Financial Results

April 22, 2026

Executing On and Delivering Shareholder Value

Net Income of $61.9 million, or $0.83 diluted EPS, reflecting typical first-quarter seasonality

PPNR(1) of $106.3 million, up $11.1 million vs a year ago

Net interest income of $249.0 million; NIM of 2.99%, up 18 bps vs a year ago

Provision for credit losses of $24.6 million, reflecting increases in specific reserves on two unrelated loans amid improving overall asset quality

Total deposits excluding brokered up $1.4 billion vs a year ago, and up $277 million vs prior quarter

NIDDA represented 30% of total deposits; down $166 million vs prior quarter but up $875 million, or 11%, vs a year ago

Core loans(2) up $906 million vs prior year; residential and other down $761 million vs prior year, consistent with balance sheet strategy

Credit improvement: Criticized & classified loans down $146 million, or 12%, vs prior quarter and NPLs down $98 million, or 26%, vs prior quarter; ACL/NPL coverage increased to 75.90%.

CET1 ratio of 12.2%

Tangible book value per share of $40.05(1), up 7% vs prior year

Returned $60.0 million to share holders through repurchase of approximately 1.3 million shares

Increased dividends by $0.02, or 6%, to $0.33 per common share from $0.31 per common share.

(1) Represent a non-GAAP measure. See appendix for a reconciliation of non-GAAP financial measures to GAAP financial measures. (2) Core Loans include CRE, C&I and Mortgage

Warehouse Lending.

$233

$246

$250

$258

$249

2.93%

3.00%

3.06%

2.99%

2.81%

(3)

NIM

0.68%

0.78%

0.82% 0.81%

(1)(2)

1Q25 2Q25 3Q25 4Q25 1Q26

$72 $72

$62

$69

$58

1Q25 2Q25 3Q25 4Q25 1Q26

0.72%

0.78%

8.2%

8.1%

8.9%

9.4% 9.5% 9.2%

1Q25 2Q25 3Q25 4Q25 1Q26

$119

$0.78

$0.95 $0.94

$0.83

$0.90

$0.91

$110 $110

$95

$106

$115

1Q25 2Q25 3Q25 4Q25 1Q26

(1) Adjusted net income, ROA, ROE, and EPS are adjusted for the impact of write downs of previously capitalized software totaling $3.8 million before taxes. (2) Represents a non-GAAP measure. See appendix for a reconciliation of non-GAAP

financial measures to GAAP financial measures. (3) Quarterly annualized ratios.

NIM and Net Interest Income are seasonally lower in the first quarter of the year

(0.07%)

(0.03%)

(0.19%)

3.06% 2.99%

2.81%

2.84%

2.81%

2.62%

2.60%

2.57%

FY26

FY25

FY24

FY23

$243.1

$227.9

$239.3

$258.2

$249.0

$217.2

$214.9

$233.1

FY26

FY25

FY24

FY23

Change From

($ in millions, except per share data)

1Q25

4Q25

1Q26

1Q25

4Q25

Income Statement

Net Interest Income

$233

$258

$249

$16

($9)

Provision for Credit Losses

$15

$26

$25

$10

($1)

Total Non-Interest Income

$22

$30

$25

($5)

Total Non-Interest Expense

$160

$173

$167

($6)

Net Income

$58

$69

$62

($7)

EPS

$0.78

$0.90

$0.83

$0.05

($0.07)

Net Interest Margin

2.81%

3.06%

2.99%

0.18%

(0.07)%

Balance Sheet

Period-End Core Loans(1)

$15,671

$16,569

$16,577

$906

Period-End Loans

$23,990

$24,274

$24,135

$145

($139)

Non-Interest DDA

$8,069

$9,110

$8,944

$875

($166)

Period-End Deposits

$28,058

$29,353

$29,360

$1,302

Capital

CET1

12.2%

12.3%

12.2%

(0.1)%

Total Risk-Based Capital

14.3%

14.1%

14.0%

(0.3)%

(0.1)%

Asset Quality

Non-Performing Assets to Total Assets(2)

0.76%

1.08%

0.79%

0.03%

(0.29)%

ACL to Total Loans

0.92%

0.91%

0.87%

(0.05)%

(0.04)%

Commercial ACL to Commercial Loans(3)

1.34%

1.30%

1.25%

(0.09)%

(0.05)%

(1) Core Loans include CRE, C&I and Mortgage Warehouse Lending. (2) Includes guaranteed portion of non-accrual SBA loans. (3) For purposes of this ratio, commercial loans includes the core C&I and CRE sub-segments as well as franchise 6

and equipment finance. Due to their unique risk profiles, MWL and municipal finance are excluded from this ratio.

Avg. NIDDA down $245 million Q-o-Q; up $1.1 billion for the 12 months

$7,413

$7,994

$8,203

$8,708

$8,463

2.58%

2.47%

2.38%

2.18%

2.12%

$19,972

$19,683

$19,043

$19,646

$20,030

$27,385 $27,677 $27,246 $28,354 $28,494

$8,069

$9,113

$8,625

$9,110

$8,944

$4,776

$5,584

$6,609

$6,189

$6,449

2.52%

2.37%

2.31%

2.10%

2.09%

$10,789

$10,171

$9,937

$10,165

$9,940

$4,424

$3,778

$3,447

$3,889

$4,027

$28,058 $28,646 $28,618 $29,353 $29,360

1Q25 2Q25 3Q25 4Q25 1Q26

Quarterly Cost of Deposits

Diverse deposit book by sector; largest industry verticals at March 31:

National HOA

$2.3 billion

National Title Solutions

$4.1 billion

1Q25 2Q25 3Q25 4Q25 1Q26

28.8%

31.8%

30.1%

28.8%

30.5%

NIDDA %

Non-Interest Demand Deposit Balances Have Returned to COVID-Era Peak Levels and Are Well-Positioned for Continued Growth ($ in millions)

$23,990 $23,934

$23,702

$24,274 $24,134

$24,274 $75

$77

$854

$580

$844

$627

$772

$709

$722

$728

$701

$805

$8,885

$8,686

$8,556

$9,030

$8,886

$6,206

$6,473

$6,534

$6,811

$6,886

$7,465

$7,304

$7,131

$6,983

$6,856

$24,134

($144)

($127)

($21)

4Q25 CRE C&I MWL Resi Other 1Q26

5.48%

5.55%

5.53%

5.37%

5.31%

1Q25 2Q25 3Q25 4Q25 1Q26

Core Loan Growth While Resi and Other Loan Balances

Continue to Decline ($ in millions)

CRE Portfolio by Geography Geographic Data by Property Type

Office

Warehouse/Industrial

20%

23%

30%

20%

10%

22%

46%

Multifamily

Retail

Hotel Construction

& Land Other

11%

15%

22%

32%

47%

21%

and Land

34%

57%

42%

44%

78%

43%

38%

64.2%

48.3%

53.2%

58.7%

55.4%

48.0%

44.4%

3.13

1.78

1.82

1.94

1.81

1.75

1.84

11%

36%

23%

49%

55%

40%

12%

Total

Other

Hotel

Retail

Multifamily

Industrial

Office

Total

Other

Hotel

Retail

Multifamily

Industrial

Office

Finance and Insurance 16.2%

Health Care

Utilities Wholesale Trade Manufacturing Construction Educational Services Transport / Warehousing

8.8%

8.3%

8.1%

7.8%

7.3%

6.0%

19%

16%

28%

Information R/E and Rental & Leasing

5.2%

5.1%

Prof., Scientific, Tech. Svcs.

Retail Trade Other Services Public Administration

Arts, Entertainment, and Rec. Adm., Support and Waste Mgnt.

4.4%

4.2%

3.3%

2.8%

1.7%

1.2%

$9,030

$311

($354) ($65) ($36)

$8,886

Accom. & Food Services

Other

0.8%

1.5%

4Q25 Production Payments/ Payoffs

Strategic Exits

Net Charge-Offs

1Q26

(1) Includes $2.0 billion in owner-occupied real estate, excludes MWL

$219.8

$22.1 $1.9 $8.3

($3.0)

($36.1)

($3.9)

($0.3)

Some elements related to economic uncertainty and model imprecision

Portfolio composition changes

New production, net of exits

Current market adjustment

Scenario weighting

Changes in borrower financials

Changes to

forward path of forecast

$208.8

4Q25 1Q26

Office Portfolio ACL at 1Q26 was 1.69%

$219.7

$222.7

$219.9

$219.8

$208.8

0.92%

0.93%

0.91%

0.87%

Net Charge-Offs, Trailing 12 months was 0.37%

ACL Ratio

1Q25 2Q25 3Q25 4Q25 1Q26

Net Charge-Offs Composition of ACL at March 31, 2026

$19.4

Commercial:

% of Loans

Balance

$24.9

Commercial real estate

$55.7

0.81 %

Commercial and industrial

141.9

1.60 %

Franchise and equipment finance

0.4

0.47 %

$36.1

Total commercial 198.0 1.25 %

$12.7

$14.7

0.24%

0.23%

0.27%

0.30%

0.37%

1Q25

2Q25

3Q25

4Q25

1Q26

Pinnacle - municipal finance

0.1

0.02 %

Residential and mortgage warehouse lending

10.7

0.14 %

Allowance for credit losses

$208.8

0.87 %

1.00%

0.94%

1.38%

1.42% 1.43%

0.69%

0.67%

0.97%

0.99%

0.98%

$376 $379

1.57% 1.60% 1.54%

1.08% 1.10% 1.08%

$34

$149

$40

$173

$83

$105

$33

$142

$136

$97

$67

$30

$23

$36

$167

$38

$211

1Q25 2Q25 3Q25 4Q25 1Q26

At March 31, 2026

$48

1Q25 2Q25 3Q25 4Q25 1Q26

$67

$55

$71

$82

$89

$82

$41

$110

$93

$122

$130 $137

$412

$471

$517

$515

$192

$644

$187

$198

$210

$297

$725 $715 $658

$142

$83

$136

$97

$67

$312

$193

$170

$176

$110

$546

$650

$708

$746

$798

$452

$493

$456

$421

$529

(1) Excludes SBA. (2) Includes C&I and franchise and equipment finance

Appendix

B2B

$265

Other

$684

$1.4B NDFI Exposure vs

$1.5B in 4Q25

6% of total loans; 8% of commercial loans

"Other" includes REITs, B2C, Private Equity Funds, Insurance Carriers and Investment Services

Excludes $806 million in MWL

One loan past due 30 -59 days

Commercial:

December 31, 2025

Balance

% of Loans

March 31, 2026

Balance

% of Loans

Commercial real estate

$58.3

0.86 %

$55.7

0.81 %

Commercial and industrial

148.6

1.65 %

141.9

1.60 %

Franchise and equipment finance

1.0

0.93 %

0.4

0.47 %

Total commercial

207.9

1.30 %

198.0

1.25 %

Pinnacle - municipal finance

0.1

0.02 %

0.1

0.02 %

Residential and mortgage warehouse lending

11.8

0.15 %

10.7

0.14 %

Allowance for credit losses

$219.8

0.91 %

$208.8

0.87 %

Office Portfolio ACL: 1.69% at March 31, 2026, 2.03% at December 31, 2025

Asset Quality Ratios

December 31, 2025

March 31, 2026

Non-performing loans to total loans(1)

1.54 %

1.14 %

Non-performing loans, excluding the guaranteed portion of non-accrual SBA loans, to total loans

1.38 %

1.00 %

Non-performing assets to total assets(1)

1.08 %

0.79 %

Non-performing assets, excluding the guaranteed portion of non-accrual SBA loans, to total assets

0.97 %

0.69 %

Allowance for credit losses to non-performing loans(1)

58.99 %

75.90 %

Net charge-offs to average loans(2)

0.30 %

0.61 %

Net charge-offs to average loans, trailing twelve months

0.30 %

0.37 %

(1) Non-performing loans and assets include the guaranteed portion of non-accrual SBA loans totaling $33.8 million and $37.9 million at March 31, 2026 and December 31, 2025, respectively. 17

(2) Annualized for the three months ended March 31, 2026.

13%

34%

27%

13%

10%

76%

High quality residential portfolio consists primarily of high FICO, low LTV, prime jumbo mortgages with de-minimis charge-offs since inception as well as government insured loans

74%

33%

39%

(1) Excludes government insured residential loans. FICOs are refreshed routinely. LTVs are typically at origination

Portfolio

December 31, 2025

March 31, 2026

Net Unrealized Loss

Fair Value

Net Unrealized Loss

Fair Value

US Government and Agency

($51)

$3,424

($51)

$3,457

Unrealized losses just 3% of amortized cost

AFS portfolio duration of 1.92;

approximately 65.3% of the portfolio floating rate

No expected credit losses on AFS securities

Private label RMBS and CMOs

(193)

2,491

(195)

2,516

Private label CMBS

(14)

2,168

(16)

2,402

CLOs

781

(1)

772

Other

(9)

394

(9)

352

($267) $9,258 ($272) $9,499

GOV

36%

A NR

36%

25%

Net income, EPS, ROA and ROE excluding the impact of the write-off are non-GAAP financial measures. Disclosure of these measures enhances the reader's ability to compare the Company's performance for 4Q25 to other periods presented. PPNR is a non-GAAP financial measure. Management believes this measure is relevant to understanding the performance of the Company attributable to elements other than the provision for credit losses and the ability of the Company to generate earnings sufficient to cover estimated credit losses. This measure also provides a meaningful basis for comparison to other financial institutions since it is commonly employed and is a measure frequently cited by investors and analysts.

The following tables reconciles these non-GAAP financial measurements to the comparable GAAP financial measurements of net income, EPS, ROA and ROE for 4Q25 and PPNR for the periods presented:

4Q25

($ in millions)

1Q25

2Q25

3Q25

4Q25

1Q26

($ in millions except per share data)

Income before income taxes (GAAP)

$80

$94

$98

$90

$82

Net income (GAAP)

$69

Plus: provision for credit losses

Write downs on capitalized software

PPNR

$95

$110

$115

$106

Tax effect of adjustment

(1)

Adjusted net income

$72

Average assets

$35,186

ROA

0.78 %

Adjusted ROA

0.81 %

Average stockholders' equity

$3,095

ROE

8.9 %

Adjusted ROE

9.2 %

EPS (GAAP)

$0.90

Write downs on capitalized software

0.04

Adjusted EPS

$0.94

Disclaimer

BankUnited Inc. published this content on April 22, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 22, 2026 at 11:23 UTC.