2023-04-25 06:49:58 ET
- BankUnited press release ( NYSE: BKU ): Q1 GAAP EPS of $0.70 misses by $0.19 .
- Revenue of $244.41M (+9.6% Y/Y) misses by $15.97M .
- For the quarter ended March 31, 2023, the provision for credit losses was $19.8 million compared to provisions of $39.6 million and $7.8 million for the quarters ended December 31, 2022 and March 31, 2022, respectively.
- The ratio of the ACL to total loans increased to 0.64%, at March 31, 2023 from 0.59% at December 31, 2022.
- CET1 was 10.8% at the holding company and 12.5% at the Bank at March 31, 2023. Pro-forma CET1 at the holding company, including accumulated other comprehensive income, was 9.4%.
- Book value and tangible book value per common share improved to $33.34 and $32.30, respectively, at March 31, 2023, from $32.19 and $31.16, respectively at December 31, 2022.
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BankUnited GAAP EPS of $0.70 misses by $0.19, revenue of $244.41M misses by $15.97M