BankUnited Reports Strong Financial Results for Late 2024**

$BKU

BankUnited, Inc. (NYSE: BKU) has announced its financial performance for the final quarter of 2024, highlighting significant growth. The company reported revenue of $264.46 million, a 12.9% increase compared to the same period last year. This result also slightly exceeded analysts’ expectations of $259.7 million.

Earnings per share (EPS)—a key measure of profitability—rose to $0.91, up from $0.72 in the previous year. This performance far surpassed the forecast of $0.71, demonstrating the company’s ability to consistently deliver better-than-expected results. The company’s lending operations remained stable, with a net interest margin of 2.8%, meeting market expectations. Loan quality also is 0.2% of loans written off as losses. However, non-performing loans, or loans not being repaid as scheduled, totaled $250.7 million, which was slightly above the expected $225.96 million.

In the stock market, BankUnited shares gained 3.9% over the past month, outperforming the S&P 500’s 2.1% increase.Throughout 2024, BankUnited focused on cutting costs and boosting profitability. Key initiatives included reducing the cost of deposits and improving earnings from lending, which significantly strengthened the company’s financial position. According to Rajinder Singh, Chairman, President, and CEO of BankUnited, these efforts have made the company more resilient and efficient.

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