BankUnited (BKU) investor relations material

Executive summary

• Net income for Q1 2026 was $61.9 million with diluted EPS of $0.83, both up year-over-year despite seasonal pressures.

• Pre-provision net revenue (PPNR) reached $106.3 million, up $11.1 million year-over-year.

• Deposit and loan growth remained positive, with non-broker deposits up $1.4 billion and core loans up $906 million year-over-year.

• Credit quality improved, with non-performing loans down $98 million (26%) and criticized/classified loans down $146 million (12%) from the prior quarter.

• Management reiterated full-year guidance and expressed confidence in achieving targets despite market uncertainties.

Financial highlights

• Net interest income was $249.0 million, up $15.8 million year-over-year but down $9.2 million sequentially; NIM was 2.99%, up 18 bps year-over-year but down 7 bps sequentially.

• Non-interest income was $25 million, up $2 million year-over-year, with service charges on deposits up 18.8%.

• Non-interest expense was $167.4 million, flat sequentially (adjusted), up $7.2 million year-over-year due to higher compensation.

• Allowance for credit losses ended at $209 million, with a coverage ratio of 87 basis points.

• Tangible book value per share increased 7% year-over-year to $40.05.

Outlook and guidance

• Full-year guidance remains unchanged, with management confident in achieving NIM of 3.20% and NIDDA growth targets.

• Provision expense is expected to be front-loaded, with $68 million guidance for the year, skewed to the first half.

• Management expects improved profitability and growth, supported by increased market share and a stronger funding profile.

• Forward-looking statements highlight ongoing risks and uncertainties, including external industry conditions.

• Management expects strong deposit and NIDDA growth in Q2, consistent with historical seasonality.