BankUnited, Inc. reported a net income of $58.5 million, or $0.78 per diluted share, for the quarter ended March 31, 2025, marking an increase from $48.0 million, or $0.64 per diluted share, in the same period last year. The annualized return on average stockholders' equity was 8.2%, while the return on average assets stood at 0.68%. The company's net interest income before provision for credit losses was $233.1 million, up from $214.9 million year-over-year, driven by a favorable funding mix and improved asset quality.
In comparison to the previous fiscal period, total loans decreased by $308 million to $23.99 billion, with notable declines in the commercial and industrial (C&I) and commercial real estate (CRE) segments. The loan-to-deposit ratio improved to 85.5% from 87.2% at the end of 2024. The net interest margin, calculated on a tax-equivalent basis, was 2.81%, slightly down from 2.84% in the previous quarter, reflecting the impact of declining interest rates on a modestly asset-sensitive balance sheet.
Strategically, BankUnited focused on enhancing its funding profile, with non-interest bearing demand deposits increasing by $453 million, or 5.9%, to represent 29% of total deposits. The company also reduced its reliance on wholesale funding, which declined by $1.1 billion during the quarter. Additionally, the bank announced a dividend increase of $0.02 per share, bringing the quarterly dividend to $0.31, a 7% increase from the previous quarter.
Operationally, BankUnited's total assets decreased to $34.83 billion from $35.24 billion at the end of 2024. The allowance for credit losses (ACL) was $219.7 million, representing 0.92% of total loans, consistent with the previous quarter. The provision for credit losses was $15.1 million, slightly lower than the $15.3 million recorded in the same quarter last year. The company maintained a robust capital position, with a common equity tier 1 (CET1) capital ratio of 12.2% as of March 31, 2025.
Looking ahead, BankUnited aims to continue improving its core profitability by growing core deposits, optimizing its asset mix, and managing credit risk effectively. The company remains focused on maintaining strong liquidity and capital levels while navigating the evolving economic landscape.
About BankUnited, Inc.
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