Stock Data
$2.13 (4.43%)
Asset Type
Common Stock
Exchange
NYSE
Currency
USD
Country
USA
Sector
FINANCIAL SERVICES
Industry
BANKS - REGIONAL
BankUnited Inc is a prominent banking institution based in Miami Lakes, Florida, offering a wide array of financial services. This includes various deposit accounts like checking and savings, certificates of deposit, and comprehensive treasury and cash management services. They have a robust loan portfolio catering to commercial, real estate, and personal financing needs. BankUnited stands out for its online, mobile, and telephone banking platforms, ensuring convenience for its customers. With a strong presence in Florida, the New York metropolitan area, and Dallas, Texas, it serves a diverse clientele since its inception in 2009.
BankUnited missed on both earnings and revenue in Q2, though net interest margin expanded to 3.06% driven by record non-interest-bearing deposits that now comprise 34.4% of total deposits. Management slashed full-year revenue and NII growth guidance to 5-6% from prior forecasts of 8-9%, signaling a more cautious path forward despite improving credit quality with NPLs down 19% sequentially.
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