BankUnited, Inc. Reports 2Q 2026 Net Income of $71 million, $0.97 Diluted EPS

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.”

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):

Net Interest Income & Margin

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):

• 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):

Deposits

Deposit portfolio composition at the periods indicated are as follows (dollars in thousands):

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):

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):

• 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.

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: $40.48¹, 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.

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).