earnings
confidence high
sentiment neutral
materiality 0.65
BankUnited Q1 net income $67.2M ($0.79 EPS); NIM expands to 2.50%, dividend raised to $0.25
BankUnited, Inc.
2022-Q1 EPS reported
$0.79
revenue$5,960,000
- Net income $67.2M ($0.79 diluted EPS) vs $98.8M ($1.06) in Q1 2021; net interest margin rose to 2.50% from 2.39%.
- Dividend increased 9% to $0.25 per share from $0.23; $82.1M in share repurchases at ~$42.50 per share.
- Non-performing loans ratio improved to 0.65% from 0.87%; total deposits fell $897M but non-interest bearing deposits rose $688M.
- Provision for credit losses $7.8M vs $28.0M recovery in Q1 2021; AOCI declined $142M on rising rates and securities losses.
- Expanding geographically with new Atlanta corporate office and Dallas branch opening in late April.