Business
BankUnited, Inc. Reports 2Q 2026 Net Income of $71 million, $0.97 Diluted EPS
BankUnited, Inc. Reports 2Q 2026 Net Income of $71 million, $0.97 Diluted
About this update from Bankunited, Inc.
BankUnited, Inc. (the “Company”) (NYSE: BKU) today announced financial results for the quarter ended June 30, 2026. Chairman, President and Chief Executive Officer Rajinder Singh commented, "Our second quarter performance reflects continued progress in strengthening the franchise and enhancing the quality of our balance sheet. Record non-interest-bearing deposits, solid fee income performance, and improved credit quality highlight the meaningful progress we have made over the past year. We remain focused on disciplined execution, deepening customer relationships, and building a stronger, more resilient franchise that supports long-term shareholder value creation." Second Quarter Financial Highlights Quarter Ended Change From ($ in millions except per share data) 2Q26 1Q26 2Q25 1Q26 2Q25 Net income $ 70.7 $ 61.9 $ 68.8 $ 8.8 $ 1.9 Diluted EPS $ 0.97 $ 0.83 $ 0.91 $ 0.14 $ 0.06 PPNR 1 $ 109.9 $ 106.3 $ 109.6 $ 3.6 $ 0.3 ROA 2 0.81 % 0.72 % 0.78 % 0.09 % 0.03 % ROE 2 9.3 % 8.1 % 9.4 % 1.2 % (0.1 )% Net interest margin 2 3.06 % 2.99 % 2.93 % 0.07 % 0.13 % Deposits Average Total Deposits (excluding brokered): Up $811 million from prior quarter and up $1.5 billion from a year ago. Non-Interest Demand Deposits (NIDDA): Ending NIDDA up $991 million , or 11% , from prior quarter and $822 million , or 9% , from a year ago. Average NIDDA up $564 million , or 7% , from prior quarter and $1 billion , or 13% from a year ago. Represents 34.4% of total deposits, up from 31.8% a year ago. This represents the highest NIDDA balance and highest percentage of total deposits in the Company's history. Wholesale funding declined by $1.4 billion for both the prior quarter and from a year ago, reflecting continued balance-sheet repositioning. Brokered deposits represents 10.5% of total deposits. Loans Average Core Loans increased $195 million, or 1% , from prior quarter and increased $643 million , or 4% , from a year ago. Total Average Loans were essentially flat vs both prior quarter and prior year, due to continued purposeful runoff in non-core loans. Credit NPLs down $51 million , or 19% , from the prior quarter and $152 million, or 40% , from a year ago. ACL to NPLs coverage ratio increased to 97.14% from 75.90% in the prior quarter. Criticized and classified loans modestly increased $7 million , or 1% , and were down $170 million , or 14% , from a year ago. Share Repurchases Approximately 1.1 million shares repurchased in Q2 for an aggregate of $50.1 million . ____________________ 1 Represents a non-GAAP measure. See "Non-GAAP Financial Measures" section for a reconciliation of non-GAAP financial measures to GAAP financial measures. 2 Annualized for the three months ended June 30, 2026, March 31, 2026, and June 30, 2025. Notable items that impacted results: The following table presents notable items, on a pre-tax basis, that impacted results for the periods presented (in thousands): Quarter Ended 2Q26 1Q26 2Q25 Compensation-related items $ — $ (5,358 ) $ — Release of FDIC Special Assessment accrual — 6,669 — $ — $ 1,311 $ — Net Interest Income & Margin Net Interest Income Net Interest Margin (NIM) Up $6.3 million or 3% from prior quarter Up $9.2 million or 4% from 2Q 2025 Up 7 bps from prior quarter Up 13 bps from 2Q 2025 Net interest income and margin increased from the prior quarter due to the following factors: Impact of the growth in NIDDA balances and reduced use of brokered deposits. Deposit pricing continued to improve, contributing to lower funding costs; average cost of deposits declined to 2.05% from 2.12% from the prior quarter. The tax equivalent yield on investment securities increased reflecting the benefit of securities purchased during the first quarter as periods of market volatility and spread widening created attractive investment opportunities. Net interest income and margin also increased from the same quarter of the prior year due to the following factors: Average NIDDA grew by $1 billion while average interest bearing liabilities declined by $1.1 billion. Partially offset by the decrease of tax equivalent yields on investment securities and loans as variable rate assets repriced faster than continued improvement in funding cost and funding mix dynamics due to lower SOFR/Fed funds basis. Non-Interest Income and Non-Interest Expense The following table summarizes non-interest income and non-interest expense for the periods presented (in millions): Three Months Ended 2Q26 1Q26 2Q25 Non-interest income $ 29.2 $ 24.7 $ 27.8 Non-interest expense $ 174.6 $ 167.4 $ 164.3 Non-interest income increased from prior quarter, primarily reflecting higher capital markets revenue. Non-interest income increased compared to a year ago, primarily as a result of increase in deposit service charges and fees. Non-interest expense increased from prior quarter, after adjusting for the notable items summarized above, due to higher deposit-related costs, a loss associated with a single real estate owned asset disposition of $1.1 million , and elevated operational losses of $1.3 million . Non-interest expense increased compared to a year ago, primarily due to higher employee compensation and benefits. Loans Average CRE loans increased by $147 million , or 2% , from prior quarter and increased by $630 million , or 10% , from a year ago. Average C&I loans were essentially flat from the prior quarter and from a year ago, largely due to strategic exits. Average MWL (Mortgage Warehouse Lending) loans up $82 million , or 13% from prior quarter and $115 million , or 19% from a year ago. Average Residential loan balances declined $174 million , or 3% from the prior quarter and $627 million , or 8% from a year ago; consistent with our balance sheet repositioning strategy. Loan portfolio composition at the periods indicated are as follows (dollars in thousands): 2Q26 1Q26 2Q25 Amortized Cost Average Balance Amortized Cost Average Balance Amortized Cost Average Balance Core loan segments: CRE 1 $ 7,006,901 $ 6,938,213 $ 6,886,411 $ 6,790,769 $ 6,473,465 $ 6,308,051 C&I 2 8,681,166 8,706,525 8,885,932 8,752,335 8,685,815 8,744,513 MWL 876,771 730,841 805,037 649,160 626,589 616,129 Municipal Finance 636,945 630,329 616,486 618,192 694,639 694,657 Total core loans 17,201,783 17,005,908 17,193,866 16,810,456 16,480,508 16,363,350 Other 71,740 78,929 84,709 95,725 149,022 156,663 Residential 6,655,550 6,754,430 6,856,354 6,928,828 7,303,997 7,380,985 Total loans $ 23,929,073 $ 23,839,267 $ 24,134,929 $ 23,835,009 $ 23,933,527 $ 23,900,998 Deposits Deposit portfolio composition at the periods indicated are as follows (dollars in thousands): 2Q26 1Q26 2Q25 Ending Balance Average Balance Ending Balance Average Balance Ending Balance Average Balance Non-Interest Bearing Demand $ 9,934,638 $ 9,027,557 $ 8,943,844 $ 8,463,491 $ 9,112,888 $ 7,993,915 Interest Bearing Demand 6,619,044 6,365,179 6,449,405 6,033,099 5,583,663 5,407,538 Savings and Money Market 9,958,785 10,083,767 9,939,985 10,245,692 10,171,156 10,355,700 Time 2,368,781 3,251,965 4,026,866 3,751,256 3,778,234 3,919,526 Total deposits $ 28,881,248 $ 28,728,468 $ 29,360,100 $ 28,493,538 $ 28,645,941 $ 27,676,679 ____________________ 1 Commercial real estate loans, including non-owner occupied commercial real estate and construction and land. 2 Commercial and industrial loans, including owner-occupied commercial real estate. Credit Credit Quality Credit quality metrics remained strong during Q2, as non-performing loans declined and criticized and classified loans modestly increased from the prior quarter. Non-Performing Loans: Down $51 million , or 19% , from prior quarter and down $152 million, or 40%, from a year ago. NPA Ratio: 0.66% , including 0.09% related to guaranteed portion of SBA loans, down from 0.79% , including 0.10% related to SBA, in prior quarter. Criticized and Classified Loans: Increased $7 million from prior quarter, reflecting continued portfolio monitoring, and down $170 million from a year ago. Net Charge-offs: Net Charge-offs for the quarter (annualized) was 0.11%, down 0.50% from prior quarter and 0.10% from a year ago. The following table provides a breakdown of criticized and classified loans for the periods indicated (in thousands): 2Q26 1Q26 2Q25 CRE Total Commercial CRE Total Commercial CRE Total Commercial Special mention $ 33,868 $ 175,198 $ 67,396 $ 177,859 $ 88,959 $ 130,879 Substandard - accruing 411,167 686,274 418,033 622,436 520,955 745,811 Substandard - non-accruing 36,255 156,208 74,584 211,293 152,634 317,958 Doubtful — 41,682 903 40,758 — 34,639 Total $ 481,290 $ 1,059,362 $ 560,916 $ 1,052,346 $ 762,548 $ 1,229,287 Allowance & Provision Allowance levels and coverage remained appropriate during the periods presented, with changes reflecting lower net charge-offs, higher specific reserves, and improved asset quality. The following tables summarize the ACL, key coverage metrics, and changes across the periods presented (dollars in thousands): ACL ACL to Total Loans Commercial ACL to Commercial Loans 1 ACL to Non- Performing Loans Net Charge- offs to Average Loans 2 2Q26 $ 217,516 0.91 % 1.30 % 97.14 % 0.11 % 1Q26 $ 208,790 0.87 % 1.25 % 75.90 % 0.61 % 2Q25 $ 222,730 0.93 % 1.36 % 59.18 % 0.21 % Three Months Ended 2Q26 1Q26 2Q25 Beginning balance $ 208,790 $ 219,825 $ 219,747 Provision 15,098 25,103 15,694 Net charge-offs (6,372 ) (36,138 ) (12,711 ) Ending balance $ 217,516 $ 208,790 $ 222,730 The ACL to total loans ratio increased to 0.91% from 0.87% in the prior quarter, while the ACL to non-performing loans coverage ratio increased to 97.14%, primarily reflecting lower non-performing loan balances. ____________________ 1 For purposes of this ratio, commercial loans includes the core C&I and CRE sub-segments as presented in the table above as well as franchise and equipment finance. Due to their unique risk profiles, MWL and municipal finance are excluded from this ratio. 2 Annualized for the three months ended June 30, 2026, March 31, 2026, and June 30, 2025. Capital, Liquidity & shareholder returns Strong capital levels provide ability to execute on growth initiatives while also returning capital to shareholders. CET1: 12.3% , up 10 bps from prior quarter and a year ago. Tangible Common Equity Ratio: 8.4% , up 10 bps from prior quarter and 30 bps from a year ago. Tangible Book Value per Share: $40.48 1 , representing 6% year-over-year growth. AOCI declined by $13.9 million from prior quarter primarily due to an increase in unrealized losses on investment securities available for sale. Compared to a year ago, AOCI improved by $14.3 million, reflecting lower unrealized losses on investment securities available for sale. ____________________ 1 Represents a non-GAAP measure. See "Non-GAAP Financial Measures" section for a reconciliation of non-GAAP financial measures to GAAP financial measures. Earnings Conference Call and Presentation A conference call to discuss quarterly results will be held at 9:00 a.m. ET on Wednesday, July 22, 2026 with Chairman, President and Chief Executive Officer Rajinder P. Singh, Chief Financial Officer James G. Mackey and Chief Operating Officer Thomas M. Cornish. The earnings release and slides with supplemental information relating to the release will be available on the Investor Relations page under About Us on www.bankunited.com prior to the call. Due to recent demand for conference call services, participants are encouraged to listen to the call via a live Internet webcast at https://ir.bankunited.com . To participate by telephone, participants will receive dial-in information and a unique PIN number upon completion of registration at https://dpregister.com/sreg/10209248/10404062ea0 . For those unable to join the live event, an archived webcast will be available on the Investor Relations page at https://ir.bankunited.com approximately two hours following the live webcast. About BankUnited, Inc. BankUnited, Inc., with total assets of $34.9 billion at June 30, 2026, is the bank holding company of BankUnited, N.A., a national bank headquartered in Miami Lakes, Florida, with operations in Florida, New York, Dallas, Atlanta, Morristown, New Jersey, and Charlotte, North Carolina. BankUnited provides a full range of consumer and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions, and offers certain commercial lending and deposit products through national platforms. For additional information, call (877) 779-2265 or visit www.BankUnited.com . BankUnited can be found on Facebook at facebook.com/BankUnited.official, LinkedIn@BankUnited and on X@BankUnited. Forward-Looking Statements 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, dividend payments and stock repurchases. The Company generally identifies forward-looking statements by terminology such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “could,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” "forecasts" or the negative version of those words or other comparable words. Any forward-looking statements contained in this press release are based on the historical performance of the Company and its subsidiaries or on the Company’s current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by the Company that the future plans, estimates or expectations contemplated by the Company will be achieved. Such forward-looking statements are subject to various risks and uncertainties and assumptions, including (without limitation) those relating to the Company’s operations, financial results, financial condition, business prospects, growth strategy and liquidity, including as impacted by external circumstances outside the Company's direct control, such as (1) an inability to successfully execute our core business strategy; (2) adverse events or conditions impacting the financial services industry, (3) our ability to access capital, including the impact of our credit rating; (4) credit risk inherent in the business of making loans and embedded in our securities portfolio, including inadequate allowance for credit losses and real estate market conditions and valuations; (5) interest rate risk, (6) liquidity risks, (7) risks related to the regulation of our industry, (8) operational risk, including dependence on information technology and third party service providers and the risk of systems failures, interruptions or breaches of security or inability to keep pace with technological change; (9) reputational risk, (10) the impact of conditions in the financial markets and economic conditions generally; (11) ineffective risk management or internal controls; and (12) the selection and application of accounting policies and methods and related assumptions and estimates. If one or more of these or other risks or uncertainties materialize, or if the Company’s underlying assumptions prove to be incorrect, the Company’s actual results may vary materially from those indicated in these statements. These factors should not be construed as exhaustive. The Company does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. A number of important factors could cause actual results to differ materially from those indicated by the forward-looking statements. Information on these factors can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K, which are available at the SEC’s website ( www.sec.gov ). BANKUNITED, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - UNAUDITED (In thousands, except share and per share data) June 30, 2026 March 31, 2026 June 30, 2025 ASSETS Cash and due from banks: Non-interest bearing $ 11,998 $ 13,336 $ 15,595 Interest bearing 355,875 371,605 785,699 Cash and cash equivalents 367,873 384,941 801,294 Investment securities 9,317,614 9,505,168 9,401,071 Non-marketable equity securities 144,652 149,590 174,234 Loans 23,929,073 24,134,929 23,933,527 Allowance for credit losses (217,516 ) (208,790 ) (222,730 ) Loans, net 23,711,557 23,926,139 23,710,797 Bank owned life insurance 315,848 314,165 294,855 Operating lease equipment, net 157,272 150,214 214,455 Goodwill 77,637 77,637 77,637 Other assets 789,789 850,759 785,364 Total assets $ 34,882,242 $ 35,358,613 $ 35,459,707 LIABILITIES AND STOCKHOLDERS’ EQUITY Liabilities: Demand deposits: Non-interest bearing $ 9,934,638 $ 8,943,844 $ 9,112,888 Interest bearing 6,619,044 6,449,405 5,583,663 Savings and money market 9,958,785 9,939,985 10,171,156 Time 2,368,781 4,026,866 3,778,234 Total deposits 28,881,248 29,360,100 28,645,941 Federal funds purchased 265,000 — — FHLB advances 1,630,000 1,755,000 2,255,000 Notes and other borrowings 318,936 319,340 708,937 Other liabilities 783,653 908,636 896,812 Total liabilities 31,878,837 32,343,076 32,506,690 Commitments and contingencies Stockholders' equity: Common stock, par value $0.01 per share, 400,000,000 shares authorized; 72,276,530, 73,354,206 and 75,218,911 shares issued and outstanding 722 734 752 Paid-in capital 164,020 209,270 306,271 Retained earnings 3,055,604 3,008,613 2,877,237 Accumulated other comprehensive loss (216,941 ) (203,080 ) (231,243 ) Total stockholders' equity 3,003,405 3,015,537 2,953,017 Total liabilities and stockholders' equity $ 34,882,242 $ 35,358,613 $ 35,459,707 BANKUNITED, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED (In thousands, except per share data) Three Months Ended Six Months Ended June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Interest income: Loans $ 312,991 $ 310,162 $ 328,090 $ 623,153 $ 649,474 Investment securities 107,603 106,230 117,346 213,833 231,215 Other 5,916 5,794 8,343 11,710 16,779 Total interest income 426,510 422,186 453,779 848,696 897,468 Interest expense: Deposits 146,605 148,694 170,695 295,299 344,905 Borrowings 24,577 24,505 36,965 49,082 73,305 Total interest expense 171,182 173,199 207,660 344,381 418,210 Net interest income before provision for credit losses 255,328 248,987 246,119 504,315 479,258 Provision for credit losses 15,559 24,586 15,698 40,145 30,809 Net interest income after provision for credit losses 239,769 224,401 230,421 464,170 448,449 Non-interest income: Deposit service charges and fees 6,310 6,219 5,323 12,529 10,558 Gain on investment securities, net 941 3,290 347 4,231 1,291 Lease financing 3,885 3,347 4,612 7,232 8,925 Capital markets income 8,081 3,684 7,123 11,765 12,021 Other non-interest income 10,022 8,160 10,405 18,182 17,285 Total non-interest income 29,239 24,700 27,810 53,939 50,080 Non-interest expense: Employee compensation and benefits 89,432 96,689 83,153 186,121 165,899 Occupancy and equipment 11,192 11,002 10,945 22,194 22,288 Deposit insurance expense 5,334 (1,026 ) 6,976 4,308 14,203 Technology 22,910 22,415 23,492 45,325 46,272 Depreciation of operating lease equipment 3,169 3,366 3,869 6,535 7,878 Other non-interest expense 42,611 34,917 35,892 77,528 68,013 Total non-interest expense 174,648 167,363 164,327 342,011 324,553 Income before income taxes 94,360 81,738 93,904 176,098 173,976 Provision for income taxes 23,697 19,863 25,138 43,560 46,734 Net income $ 70,663 $ 61,875 $ 68,766 $ 132,538 $ 127,242 Earnings per common share, basic $ 0.97 $ 0.83 $ 0.91 $ 1.80 $ 1.70 Earnings per common share, diluted $ 0.97 $ 0.83 $ 0.91 $ 1.79 $ 1.68 BANKUNITED, INC. AND SUBSIDIARIES AVERAGE BALANCES AND YIELDS (Dollars in thousands) Three Months Ended June 30, Three Months Ended March 31, Three Months Ended June 30, 2026 2026 2025 Average Balance Interest 1 Yield/ Rate 1,2 Average Balance Interest 1 Yield/ Rate 1,2 Average Balance Interest 1 Yield/ Rate 1,2 Assets: Interest earning assets: Loans $ 23,839,310 $ 315,747 5.31 % $ 23,835,417 $ 312,812 5.31 % $ 23,901,218 $ 330,805 5.55 % Investment securities 3 9,381,602 108,693 4.64 % 9,471,480 106,953 4.55 % 9,352,504 118,046 5.06 % Other interest earning assets 682,205 5,916 3.48 % 672,001 5,794 3.49 % 807,721 8,343 4.14 % Total interest earning assets 33,903,117 430,356 5.09 % 33,978,898 425,559 5.06 % 34,061,443 457,194 5.38 % Allowance for credit losses (213,533 ) (218,808 ) (227,191 ) Non-interest earning assets 1,356,431 1,328,791 1,370,990 Total assets $ 35,046,015 $ 35,088,881 $ 35,205,242 Liabilities and Stockholders' Equity: Interest bearing liabilities: Interest bearing demand deposits $ 6,365,179 $ 45,432 2.87 % $ 6,033,099 $ 43,294 2.91 % $ 5,407,538 $ 45,689 3.39 % Savings and money market deposits 10,083,767 72,729 2.89 % 10,245,692 73,278 2.90 % 10,355,700 88,023 3.41 % Time deposits 3,251,965 28,444 3.51 % 3,751,256 32,122 3.48 % 3,919,526 36,983 3.79 % Total interest bearing deposits 19,700,911 146,605 2.99 % 20,030,047 148,694 3.01 % 19,682,764 170,695 3.48 % FHLB advances 2,028,901 18,991 3.75 % 2,193,944 19,897 3.68 % 2,941,264 27,828 3.79 % Notes and other borrowings 471,725 5,586 4.74 % 366,487 4,608 5.03 % 709,081 9,137 5.16 % Total interest bearing liabilities 22,201,537 171,182 3.10 % 22,590,478 173,199 3.11 % 23,333,109 207,660 3.57 % Non-interest bearing demand deposits 9,027,557 8,463,491 7,993,915 Other non-interest bearing liabilities 776,682 930,784 931,879 Total liabilities 32,005,776 31,984,753 32,258,903 Stockholders' equity 3,040,239 3,104,128 2,946,339 Total liabilities and stockholders' equity $ 35,046,015 $ 35,088,881 $ 35,205,242 Net interest income $ 259,174 $ 252,360 $ 249,534 Interest rate spread 1.99 % 1.95 % 1.81 % Net interest margin 3.06 % 2.99 % 2.93 % ____________________ 1 On a tax-equivalent basis where applicable 2 Annualized 3 At fair value BANKUNITED, INC. AND SUBSIDIARIES AVERAGE BALANCES AND YIELDS (Dollars in thousands) Six Months Ended June 30, 2026 2025 Average Balance Interest (1) Yield/ Rate (1)(2) Average Balance Interest (1) Yield/ Rate (1)(2) Assets: Interest earning assets: Loans $ 23,837,373 $ 628,561 5.31 % $ 23,917,488 $ 654,918 5.51 % Investment securities (3) 9,426,293 215,644 4.59 % 9,229,050 232,636 5.06 % Other interest earning assets 677,425 11,710 3.49 % 801,797 16,779 4.22 % Total interest earning assets 33,941,091 855,915 5.07 % 33,948,335 904,333 5.36 % Allowance for credit losses (216,156 ) (227,672 ) Non-interest earning assets 1,342,393 1,370,321 Total assets $ 35,067,328 $ 35,090,984 Liabilities and Stockholders' Equity: Interest bearing liabilities: Interest bearing demand deposits $ 6,200,056 $ 88,726 2.89 % $ 5,111,328 $ 85,582 3.37 % Savings and money market deposits 10,164,282 146,007 2.89 % 10,593,396 179,802 3.42 % Time deposits 3,500,231 60,566 3.49 % 4,122,014 79,521 3.89 % Total interest bearing deposits 19,864,569 295,299 3.00 % 19,826,738 344,905 3.50 % FHLB advances 2,110,967 38,889 3.72 % 2,966,188 55,034 3.74 % Notes and other borrowings 419,396 10,193 4.86 % 709,059 18,271 5.16 % Total interest bearing liabilities 22,394,932 344,381 3.10 % 23,501,985 418,210 3.58 % Non-interest bearing demand deposits 8,747,082 7,705,120 Other non-interest bearing liabilities 853,307 968,195 Total liabilities 31,995,321 32,175,300 Stockholders' equity 3,072,007 2,915,684 Total liabilities and stockholders' equity $ 35,067,328 $ 35,090,984 Net interest income $ 511,534 $ 486,123 Interest rate spread 1.97 % 1.78 % Net interest margin 3.03 % 2.87 % ____________________ (1) On a tax-equivalent basis where applicable (2) Annualized (3) At fair value BANKUNITED, INC. AND SUBSIDIARIES EARNINGS PER COMMON SHARE (In thousands except share and per share amounts) Three Months Ended Six Months Ended June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Basic earnings per common share: Numerator: Net income $ 70,663 $ 61,875 $ 68,766 $ 132,538 $ 127,242 Distributed and undistributed earnings allocated to participating securities (1,094 ) (911 ) (979 ) (2,000 ) (1,799 ) Income allocated to common stockholders for basic earnings per common share $ 69,569 $ 60,964 $ 67,787 $ 130,538 $ 125,443 Denominator: Weighted average common shares outstanding 72,630,405 74,518,354 75,222,756 73,569,419 75,071,593 Less average unvested stock awards (1,180,777 ) (1,138,483 ) (1,124,872 ) (1,159,749 ) (1,113,205 ) Weighted average shares for basic earnings per common share 71,449,628 73,379,871 74,097,884 72,409,670 73,958,388 Basic earnings per common share $ 0.97 $ 0.83 $ 0.91 $ 1.80 $ 1.70 Diluted earnings per common share: Numerator: Income allocated to common stockholders for basic earnings per common share $ 69,569 $ 60,964 $ 67,787 $ 130,538 $ 125,443 Adjustment for earnings reallocated from participating securities 4 4 5 8 9 Income used in calculating diluted earnings per common share $ 69,573 $ 60,968 $ 67,792 $ 130,546 $ 125,452 Denominator: Weighted average shares for basic earnings per common share 71,449,628 73,379,871 74,097,884 72,409,670 73,958,388 Dilutive effect of certain share-based awards 342,179 511,677 523,812 426,460 543,043 Weighted average shares for diluted earnings per common share 71,791,807 73,891,548 74,621,696 72,836,130 74,501,431 Diluted earnings per common share $ 0.97 $ 0.83 $ 0.91 $ 1.79 $ 1.68 BANKUNITED, INC. AND SUBSIDIARIES SELECTED RATIOS At or for the Three Months Ended At or for the Years Ended June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Financial ratios 1 Return on average assets 0.81 % 0.72 % 0.78 % 0.76 % 0.73 % Return on average stockholders’ equity 9.3 % 8.1 % 9.4 % 8.7 % 8.8 % Net interest margin 2 3.06 % 2.99 % 2.93 % 3.03 % 2.87 % Loans to deposits 82.9 % 82.3 % 83.6 % 82.9 % 83.6 % Tangible book value per common share $ 40.48 $ 40.05 $ 38.23 $ 40.48 $ 38.23 June 30, 2026 March 31, 2026 June 30, 2025 Asset quality ratios Non-performing loans to total loans 3,4 0.94 % 1.14 % 1.57 % Non-performing assets to total assets 4,5 0.66 % 0.79 % 1.08 % ACL to total loans 0.91 % 0.87 % 0.93 % Commercial ACL to commercial loans 6 1.30 % 1.25 % 1.36 % ACL to non-performing loans 3,4 97.14 % 75.90 % 59.18 % Net charge-offs to average loans 7 0.11 % 0.61 % 0.21 % June 30, 2026 March 31, 2026 June 30, 2025 Required to be Considered Well Capitalized BankUnited, Inc. BankUnited, N.A. BankUnited, Inc. BankUnited, N.A. BankUnited, Inc. BankUnited, N.A. Capital ratios Tier 1 leverage 8.9 % 9.4 % 8.9 % 9.4 % 8.8 % 9.3 % 5.0 % Common Equity Tier 1 ("CET1") risk-based capital 12.3 % 13.0 % 12.2 % 12.9 % 12.2 % 13.0 % 6.5 % Total risk-based capital 13.9 % 13.9 % 14.0 % 13.7 % 14.3 % 13.9 % 10.0 % Tangible Common Equity/Tangible Assets 8.4 % N/A 8.3 % N/A 8.1 % N/A N/A ____________________ 1 Annualized for the three month periods as applicable. 2 On a tax-equivalent basis. 3 We define non-performing loans to include non-accrual loans and loans other than purchased credit deteriorated and government insured residential loans that are past due 90 days or more and still accruing. Contractually delinquent purchased credit deteriorated and government insured residential loans on which interest continues to be accrued are excluded from non-performing loans. 4 Non-performing loans and assets include the guaranteed portion of non-accrual SBA loans totaling $31.8 million or 0.13% of total loans and 0.09% of total assets at June 30, 2026, $33.8 million or 0.14% of total loans and 0.10% of total assets at March 31, 2026, and $35.9 million or 0.15% of total loans and 0.10% of total assets at June 30, 2025. 5 Non-performing assets include non-performing loans, OREO and other repossessed assets. 6 For purposes of this ratio, commercial loans includes the C&I and CRE sub-segments, as well as franchise and equipment finance. Due to their unique risk profiles, MWL and municipal finance are excluded from this ratio. 7 Annualized for the three months ended June 30, 2026, March 31, 2026, and June 30, 2025. Non-GAAP Financial Measures Tangible book value per common share is a non-GAAP financial measure. Management believes this measure is relevant to understanding the capital position and performance of the Company. Disclosure of this non-GAAP financial measure also provides a meaningful basis for comparison to other financial institutions as it is a metric commonly used in the banking industry. 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 at the dates and for the periods indicated (in thousands except share and per share data): June 30, 2026 March 31, 2026 June 30, 2025 Total stockholders’ equity $ 3,003,405 $ 3,015,537 $ 2,953,017 Less: goodwill and other intangible assets 77,637 77,637 77,637 Tangible stockholders’ equity $ 2,925,768 $ 2,937,900 $ 2,875,380 Common shares issued and outstanding 72,276,530 73,354,206 75,218,911 Book value per common share $ 41.55 $ 41.11 $ 39.26 Tangible book value per common share $ 40.48 $ 40.05 $ 38.23 Quarter Ended June 30, 2026 March 31, 2026 June 30, 2025 Pre-Provision Net Revenue ("PPNR") Income before income taxes $ 94,360 $ 81,738 $ 93,904 Provision for credit losses 15,559 24,586 15,698 PPNR $ 109,919 $ 106,324 $ 109,602 View source version on businesswire.com: https://www.businesswire.com/news/home/20260722822461/en/