Strong Franchise Momentum Driven by Record Non-Interest-Bearing Deposits, Improved Credit Quality and Solid Fee Income Performance

Miami Lakes, Fla. - July 22, 2026 - 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."

Second Quarter Financial Highlights

			Quarter Ended																		Change From
($ in millions except per share data)			2Q26						1Q26						2Q25						1Q26						2Q25
Net income			$	70.7					$	61.9					$	68.8					$	8.8					$	1.9
Diluted EPS			$	0.97					$	0.83					$	0.91					$	0.14					$	0.06
PPNR1			$	109.9					$	106.3					$	109.6					$	3.6					$	0.3
ROA2			0.81		%				0.72		%				0.78		%				0.09		%				0.03		%
ROE2			9.3		%				8.1		%				9.4		%				1.2		%				(0.1)		%
Net interest margin2			3.06		%				2.99		%				2.93		%				0.07		%				0.13		%

Deposits			•Average Total Deposits (excluding brokered): Up $811 million from prior quarter and up $1.5 billion from a year ago.
			• Non-Interest Demand Deposits (NIDDA):
			◦Ending NIDDA up $991 million, or 11%, from prior quarter and $822 million, or 9%, from a year ago.
			◦Average NIDDA up $564 million, or 7%, from prior quarter and $1 billion, or 13% from a year ago.
			◦Represents 34.4% of total deposits, up from 31.8% a year ago. This represents the highest NIDDA balance and highest percentage of total deposits in the Company's history.
			•Wholesale funding declined by $1.4 billion for both the prior quarter and from a year ago, reflecting continued balance-sheet repositioning. Brokered deposits represents 10.5% of total deposits.
Loans			•Average Core Loans increased $195 million, or 1%, from prior quarter and increased $643 million, or 4%, from a year ago.
			•Total Average Loans were essentially flat vs both prior quarter and prior year, due to continued purposeful runoff in non-core loans.
Credit			•NPLs down $51 million, or 19%, from the prior quarter and $152 million, or 40%, from a year ago.
			•ACL to NPLs coverage ratio increased to 97.14% from 75.90% in the prior quarter.
			•Criticized and classified loans modestly increased $7 million, or 1%, and were down $170 million, or 14%, from a year ago.
Share Repurchases			•Approximately 1.1 million shares repurchased in Q2 for an aggregate of $50.1 million.

(1) Represents a non-GAAP measure. See "Non-GAAP Financial Measures" section for a reconciliation of non-GAAP financial measures to GAAP financial measures.

(2) Annualized for the three months ended June 30, 2026, March 31, 2026, and June 30, 2025.

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):

			Quarter Ended
			2Q26						1Q26						2Q25
Compensation-related items			$	-					$	(5,358)					$	-
Release of FDIC Special Assessment accrual			-						6,669						-
			$	-					$	1,311					$	-

Net Interest Income & Margin

Net Interest Income

Net Interest Margin (NIM)

p$6.3 million or 3% from prior quarter

p $9.2 million or 4% from 2Q 2025

p 7 bps from prior quarter

p 13 bps from 2Q 2025

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):

			Three Months Ended
			2Q26						1Q26						2Q25
Non-interest income			$	29.2					$	24.7					$	27.8
Non-interest expense			$	174.6					$	167.4					$	164.3

•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):

			2Q26												1Q26												2Q25
			Amortized Cost						Average Balance						Amortized Cost						Average Balance						Amortized Cost						Average Balance
Core loan segments:
CRE 1			$	7,006,901					$	6,938,213					$	6,886,411					$	6,790,769					$	6,473,465					$	6,308,051
C&I 2			8,681,166						8,706,525						8,885,932						8,752,335						8,685,815						8,744,513
MWL			876,771						730,841						805,037						649,160						626,589						616,129
Municipal Finance			636,945						630,329						616,486						618,192						694,639						694,657
Total core loans			17,201,783						17,005,908						17,193,866						16,810,456						16,480,508						16,363,350
Other			71,740						78,929						84,709						95,725						149,022						156,663
Residential			6,655,550						6,754,430						6,856,354						6,928,828						7,303,997						7,380,985
Total loans			$	23,929,073					$	23,839,267					$	24,134,929					$	23,835,009					$	23,933,527					$	23,900,998

Deposits

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

			2Q26												1Q26												2Q25
			Ending Balance						Average Balance						Ending Balance						Average Balance						Ending Balance						Average Balance
Non-Interest Bearing Demand			$	9,934,638					$	9,027,557					$	8,943,844					$	8,463,491					$	9,112,888					$	7,993,915
Interest Bearing Demand			6,619,044						6,365,179						6,449,405						6,033,099						5,583,663						5,407,538
Savings and Money Market			9,958,785						10,083,767						9,939,985						10,245,692						10,171,156						10,355,700
Time			2,368,781						3,251,965						4,026,866						3,751,256						3,778,234						3,919,526
Total deposits			$	28,881,248					$	28,728,468					$	29,360,100					$	28,493,538					$	28,645,941					$	27,676,679

(1) Commercial real estate loans, including non-owner occupied commercial real estate and construction and land.

(2) Commercial and industrial loans, including owner-occupied commercial real estate.

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):

			2Q26												1Q26												2Q25
			CRE						Total Commercial						CRE						Total Commercial						CRE						Total Commercial
Special mention			$	33,868					$	175,198					$	67,396					$	177,859					$	88,959					$	130,879
Substandard - accruing			411,167						686,274						418,033						622,436						520,955						745,811
Substandard - non-accruing			36,255						156,208						74,584						211,293						152,634						317,958
Doubtful			-						41,682						903						40,758						-						34,639
Total			$	481,290					$	1,059,362					$	560,916					$	1,052,346					$	762,548					$	1,229,287

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):

			ACL						ACL to Total Loans						Commercial ACL to Commercial Loans1						ACL to Non-Performing Loans						Net Charge-offs to Average Loans2
2Q26			$	217,516					0.91		%				1.30		%				97.14		%				0.11		%
1Q26			$	208,790					0.87		%				1.25		%				75.90		%				0.61		%
2Q25			$	222,730					0.93		%				1.36		%				59.18		%				0.21		%

			Three Months Ended
			2Q26						1Q26						2Q25
Beginning balance			$	208,790					$	219,825					$	219,747
Provision			15,098						25,103						15,694
Net charge-offs			(6,372)						(36,138)						(12,711)
Ending balance			$	217,516					$	208,790					$	222,730

•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.

(1) For purposes of this ratio, commercial loans includes the core C&I and CRE sub-segments as presented in the table above as well as franchise and equipment finance. Due to their unique risk profiles, MWL and municipal finance are excluded from this ratio.

(2) Annualized for the three months ended June 30, 2026, March 31, 2026, and June 30, 2025.

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.

(1) Represents a non-GAAP measure. See "Non-GAAP Financial Measures" section for a reconciliation of non-GAAP financial measures to GAAP financial measures.