Latest news with #BKU
New Indian Express
4 days ago
- Politics
- New Indian Express
AAP government facing backlash as village panchayats pass resolutions against land pooling policy
Lakhowal said that a total of around 200 panchayats of 160 where land is being acquired for residential purposes and another 40 where, in the coming week, land will be acquired for industrial purpose, are expected to pass the resolutions soon. Most of them are in Ludhiana, and around 24,000 acres of land is being acquired in the district, followed by Moga, Jalandhar, Hoshiarpur and Amritsar districts, he added. "Besides this 24,000 acres to be acquired in Ludhiana for residential purpose and another 21,000 acres is being acquired for industrial purposes, the notification of the same is expected to be issued in the coming week for that the farmers unions have called for a meeting tomorrow to oppose the acquisition and we will ask the villagers if they want to give their land to the government or not as all of them have already objected,'' he said. Pawandeep Singh of Mehlon said that 250 acres of land is being acquired in their village, which is being opposed. "The very thought of losing his small landholding and moving to a new place did not let him sleep,'' he said. Gurinder Singh of Nathu Bhaini village says that around 350 acres of land in their village are being acquired by the government, leaving nothing to the villagers. "This is the first legal hurdle we have cleared in what we assume will be a long fight with the state government,'' he said. In Bhattian village near Phillaur, where 700 acres of land is to be acquired, the sarpanch of the village Ranjit Singh Batth said that the panchayat passed a resolution against the acquisition a few days ago. Many farmers are drawing parallels between this policy and the three farm laws that were introduced in 2020 by the BJP-led Union Government, which were later repealed after a year-long struggle. Senior SKM leader and president of the BKU (Rajewal Group) said that the SKM was also guiding panchayats on filing of resolutions against their land being taken away. "The government is falsely saying that the farmers support this policy,' he said. The farmers from across the state will take out a tractor march on July 30 against the land pooling policy.
Indian Express
5 days ago
- Politics
- Indian Express
2 months since his death, Agniveer's ashes yet to be immersed; kin await ‘martyr' status amid Punjab govt silence
Over two months after the cremation of Agniveer Akashdeep Singh, 20, who died of a bullet injury while on duty in Jammu on May 15, his family has refused to immerse his ashes in protest against the 'government's indifference'. The grieving family in Kothe Chahal village in Faridkot's Kotkapura says they are still waiting for Akashdeep to be officially recognised as a martyr, and for the compensation routinely granted to the families of soldiers who die in the line of duty. On Friday, Akashdeep's parents, accompanied by members of the Bharatiya Kisan Union (Sidhupur), held a protest march through the streets of Faridkot that culminated in a sit-in demonstration inside the district administrative complex. They also submitted a memorandum to Punamdeep Kaur, Deputy Commissioner (DC). Addressing the protesters, BKU (Sidhupur) president and convenor of Samyukt Kisan Morcha (non-political), Jagjit Singh Dallewal said, 'I am shocked by the Punjab Government's apathetic response. It has been 70 days since this son of the soil was cremated, and his ashes are yet to be immersed. We sleep in peace because the Army guards our borders. And when one of them dies in uniform, does he not deserve dignity in death?' He added, 'Neither the Centre nor the State has spoken. It is unbelievable — how can we be so stone-hearted? People had protested against this Agnipath scheme right in the beginning and see the condition of the families of these soldiers.' Akashdeep reportedly died of a self-inflicted bullet wound to the head. His body was brought back in an ambulance and cremated on May 16. Though local MLA and Punjab Assembly Speaker Kultar Singh Sandhwan visited the family multiple times, the state government has made no announcement regarding compensation or his martyr status. The silence has only deepened the family's pain. On Friday, Akashdeep's father, Balwinder Singh — a long-time AAP supporter — sat under the scorching sun wearing a black turban. His mother Karamjit Kaur, draped in a white dupatta, remained silent, her eyes questioning the system. 'What was my fault in sending my young son to the armed forces?' she had asked earlier. Flex sheets at the protest site read: 'Akashdeep Amar Rahe (Long live Akashdeep)', 'Akashdeep nu shaheed da darza deo (Declare him a martyr)', and 'Akashdeep nu insaaf deo (Justice to Akashdeep)'. The family handed over the memorandum to the DC along with Dallewal, but chose not to speak at the protest. Earlier, in a conversation with The Indian Express, Balwinder had said, 'We are upset with the Punjab government's approach. No announcement has been made. Speaker Sandhwan came to our house and attended the cremation, but there has been no word from the Chief Minister (Bhagwant Mann).' The family was particularly hurt that even the DC did not visit their home — only a tahsildar was present during the cremation. 'My son died while on duty,' Kaur had said. 'People who die after drinking spurious liquor get Rs 10 lakh compensation and government jobs for their families. But my brave son, who left his BCom studies to serve the nation, has not even been acknowledged.' Kaur added that the family will not immerse Akashdeep's ashes until he is honoured as a martyr. 'What is the purpose of the Agniveer scheme if those who die in service are not even recognised?' The case has drawn comparisons to the first death of an Agniveer in India – Amritpal Singh, 19, who died by suicide in October 2023 in Punjab's Mansa. That incident had snowballed into a major political issue, following which chief minister Mann personally visited the family, announced a compensation of Rs 1 crore and a government job. AAP chief Arvind Kejriwal had then declared that the Punjab government stood with its soldiers even when the Centre failed. 'The contrast in treatment is shocking,' said Harvipan Singh, block president of BKU (Sidhupur). 'Why this silence in Akashdeep's case?' Asked about the status of the family's demands, the DC said, 'We are forwarding the memorandum to the Chief Minister's Office. So far, we haven't received any feedback.' Meanwhile, Akashdeep's ashes remain as a symbol of the family's pain and a government that appears to look the other way.
Business Wire
23-07-2025
- Business
- Business Wire
BankUnited Announces CFO Succession Plan
MIAMI LAKES, Fla.--(BUSINESS WIRE)--BankUnited Inc. (NYSE: BKU) announced its succession plan for the role of chief financial officer. James G. Mackey will join the company as senior executive vice president, reporting to BankUnited chairman, president and CEO Rajinder P. Singh, effective August 15, 2025. He will assume the role of chief financial officer on November 1, 2025. Mackey will succeed longtime CFO Leslie Lunak, who plans to retire effective January 1, 2026, after a distinguished tenure with the company. "With over three decades of experience leading some of the industry's most respected names, Jim brings a wealth of expertise that will be instrumental as we continue to grow and evolve." Share Mackey is a seasoned business executive with extensive experience as a CFO for a variety of highly regarded financial institutions, helping to lead them through transformative periods of growth across finance, operations, risk and controls. Most recently, Mackey served as the CFO for Wells Fargo's consumer lending division. Previously, Mackey was the CFO for Freddie Mac and Ally Financial and was a divisional CFO for Bank of America's corporate investments, corporate treasury and private equity divisions. 'We are delighted to welcome Jim to BankUnited as our new chief financial officer, effective this November. With over three decades of experience leading some of the industry's most respected names, Jim brings a wealth of expertise that will be instrumental as we continue to grow and evolve,' said Singh. 'His proven ability to drive performance and deliver value, while cultivating strong relationships with stakeholders, makes him an excellent addition to our leadership team.' During Mackey's time with Wells Fargo, he led the finance team supporting the newly formed consumer lending division, assisting with successful strategic reviews to optimize earnings, minimize operational risk and increase enterprise value. As CFO of Freddie Mac, Mackey helped guide the strategic execution of an enterprise-wide transformation to modernize the institution, improve customer service, adopt modernized capital standards and improve the overall housing finance system. Mackey joined Ally Financial shortly after Ally became a bank holding company. As CFO, he helped transform the company into a leading diversified digital bank, ultimately laying the foundation for significant capital raises. At Bank of America, he led a global team through the financial crisis, with finance responsibility for the parent company and several banking subsidiaries. He played a key role in business, finance and treasury activities related to several major acquisitions. He began his career at PwC, after earning his master's in accounting and bachelor's in business administration from the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill. The transition comes as Lunak announces her retirement. Lunak joined BankUnited in 2010 and assumed the CFO role in 2013. Before rising to her current position, she held the roles of executive vice president, chief accounting officer and senior vice president, finance. During her tenure as CFO, which saw the bank's total assets grow from $12 billion to over $35 billion, Lunak was at the forefront of a successful enterprise-wide initiative aimed at strengthening BankUnited's core business model, streamlining its organizational structure and broadening its portfolio of products and services. 'As an integral member of our C-suite management team, Leslie has made many significant and lasting contributions that have helped to transform BankUnited into a leading national commercial bank,' said Singh. 'Leslie has strengthened BankUnited's capital position, led the implementation of a new credit loss accounting standard, guided impactful cost savings and revenue-generating initiatives and helped steer the company through periods of market volatility and a pandemic. We are grateful for her 15 years of dedication and commitment and wish her well as she begins a new chapter.' BankUnited, N.A. is a national bank and one of the largest independent depository institutions headquartered in Florida, now operating in Florida, New York, Dallas, Atlanta, Morristown, New Jersey and Charlotte, North Carolina. BankUnited provides a broad range of consumer and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. For more information, call (877) 779-2265 or visit About BankUnited, N.A. BankUnited, Inc. (NYSE: BKU), with total assets of $35.5 billion at June 30, 2025, 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 BankUnited can be found on Facebook at LinkedIn @BankUnited and on X @BankUnited.
Business Wire
23-07-2025
- Business
- Business Wire
BankUnited, Inc. Reports Second Quarter 2025 Results
BUSINESS WIRE)--BankUnited, Inc. (the 'Company') (NYSE: BKU) today announced financial results for the quarter ended June 30, 2025. "This was an outstanding quarter - we continued to deliver on key priorities with strong NIDDA growth and continued margin expansion," said Rajinder Singh, Chairman, President and Chief Executive Officer. For the quarter ended June 30, 2025, the Company reported net income of $68.8 million, or $0.91 per diluted share, an 18% increase over $58.5 million, or $0.78 per diluted share for the immediately preceding quarter ended March 31, 2025. For the quarter ended June 30, 2024, net income was $53.7 million, or $0.72 per diluted share. For the six months ended June 30, 2025, net income was $127.2 million, or $1.68 per diluted share compared to $101.7 million, or $1.36 per diluted share for the six months ended June 30, 2024, an increase of 25%. Quarterly Highlights As expected, the net interest margin, calculated on a tax-equivalent basis, expanded by 0.12%, to 2.93% for the quarter ended June 30, 2025 from 2.81% for the immediately preceding quarter. Net interest income grew by $13.0 million, or 5.6% compared to the prior quarter. The Company's funding profile continued to improve this quarter. Non-interest bearing demand deposits ("NIDDA") grew by $1.0 billion, or 13%, to 32% of total deposits, up from 29% at March 31, 2025. NIDDA was also up $1.0 billion compared to June 30, 2024, one year ago. Average NIDDA grew $581 million for the quarter ended June 30, 2025. Non-brokered deposits grew by $1.2 billion, or 5.1%, for the quarter ended June 30, 2025 while total deposits grew by $588 million. The average cost of total deposits declined by 0.11% to 2.47% for the quarter ended June 30, 2025 from 2.58% for the immediately preceding quarter ended March 31, 2025. The spot APY of total deposits declined by 0.15% to 2.37% at June 30, 2025 from 2.52% at March 31, 2025. The spot APY of total deposits was 3.09% at June 30, 2024, one year ago. Wholesale funding, including FHLB advances and brokered deposits, declined by $749 million for the quarter ended June 30, 2025. For the quarter ended June 30, 2025, CRE loans grew by $267 million, largely in line with our expectations. C&I loans declined by $199 million; a continued high level of unscheduled payoffs and some strategic exits impacted C&I growth. Consistent with our balance sheet strategy, the residential, franchise, equipment and municipal finance portfolios declined by a combined $171 million. Total loans declined by $56 million for the quarter ended June 30, 2025. The loan to deposit ratio declined to 83.6% at June 30, 2025, from 85.5% at March 31, 2025. With respect to credit, total criticized and classified loans declined by $156 million for the quarter ended June 30, 2025. We experienced net migration of $117 million of loans to non-accrual for the quarter, the majority of which, not unexpectedly, was attributable to office exposure. The NPA ratio at June 30, 2025 was 1.08%, including 0.10% related to the guaranteed portion of non-accrual SBA loans, compared to 0.76%, including 0.09% related to the guaranteed portion of non-accrual SBA loans, at March 31, 2025. The annualized net charge-off ratio for the six months ended June 30, 2025 was 0.27%; the net charge-off ratio for the trailing twelve months was 0.23%. The ratio of the ACL to total loans was 0.93% at June 30, 2025, compared to 0.92% at the prior quarter-end. The ratio of the ACL to non-performing loans was 59.18%. The ACL to loans ratio for commercial portfolio sub-segments including C&I, CRE, franchise finance and equipment finance was 1.36% at June 30, 2025 and the ACL to loans ratio for CRE office loans was 1.92%. The provision for credit losses was $15.7 million for the quarter ended June 30, 2025 compared to $15.1 million for the preceding quarter. At June 30, 2025, the weighted average LTV of the CRE portfolio was 54.2%, the weighted average DSCR was 1.76, 51% of the portfolio was collateralized by properties located in Florida and 24% was collateralized by properties located in the New York tri-state area. For the office sub-segment, the weighted average LTV was 63.3%, the weighted average DSCR was 1.52, 59% was collateralized by properties in Florida, substantially all of which was suburban, and 22% was collateralized by properties located in the New York tri-state area. Our capital position is robust. At June 30, 2025, CET1 was 12.2% at a consolidated level. Pro-forma CET1 including accumulated other comprehensive income was 11.3% at June 30, 2025. The ratio of tangible common equity to tangible assets increased to 8.1% at June 30, 2025. Book value and tangible book value per common share continued to accrete, to $39.26 and $38.23, respectively, at June 30, 2025 compared to $38.51 and $37.48, respectively, at March 31, 2025 and $36.11 and $35.07, respectively, at June 30, 2024. This represents a 9% year-over-year increase in tangible book value per share. As previously announced, we are excited about the launch of new wholesale banking offices in Morristown, NJ and Charlotte, NC. On July 22, 2025, the Company's Board of Directors authorized the repurchase of up to $100 million in shares of its outstanding common stock. Any repurchases will be made in accordance with applicable securities laws from time to time in open market or private transactions. The extent to which the Company repurchases shares, and the timing of such repurchases, will depend upon a variety of factors, including market conditions, the Company's capital position and amount of retained earnings, regulatory requirements and other considerations. No time limit was set for the completion of the share repurchase program, and the program may be suspended or discontinued at any time. On July 22, 2025, the Company's Board of Directors authorized the redemption of all of its outstanding 4.875% senior notes due November 2025. Loans Loan portfolio composition at the dates indicated follows (dollars in thousands): For the quarter ended June 30, 2025, the core C&I and CRE portfolio segments grew by a net $68 million. The CRE portfolio grew by $267 million while the C&I portfolio declined by $199 million. A continued high level of unscheduled payoffs and strategic exits contributed to this decline. MWL grew by $46 million. Consistent with our balance sheet strategy, residential loans declined by $160 million. Our commercial real estate exposure totaled 27% of loans and 185% of the Bank's total risk based capital at June 30, 2025. By comparison, based on call report data as of March 31, 2025 for banks with between $10 billion and $100 billion in assets, the median level of CRE to total loans was 35% and the median level of CRE to total risk based capital was 217%. Asset Quality and the ACL The following table presents information about the ACL at the dates indicated as well as net charge-off rates for the periods ended June 30, 2025, March 31, 2025 and December 31, 2024 (dollars in thousands): _______________________________ (1) Annualized for the three months ended March 31, 2025 and the six months ended June 30, 2025; ratio for December 31, 2024 represents annual net charge-off rate. (2) 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. Expand The ACL at June 30, 2025 represents management's estimate of lifetime expected credit losses, or the amount of amortized cost not expected to be collected, given an assessment of historical data, current conditions, and a reasonable and supportable economic forecast as of the balance sheet date. For the quarter ended June 30, 2025, the provision for credit losses, including portions related to both funded and unfunded loan commitments, was $15.7 million, compared to $15.1 million for the immediately preceding quarter ended March 31, 2025 and $19.5 million for the quarter ended June 30, 2024. Factors impacting the provision for credit losses and increase in the ACL for the quarter included increases in specific reserves and deterioration in the economic forecast, substantially offset by the impact of upgrades and payoffs of criticized and classified commercial loans, some reduction in certain qualitative factors and net charge-offs. The quarter-over-quarter decline in the ratio of the ACL to non-performing loans is related to non-performing loans that have no or relatively low related ACL due to the adequacy of estimated collateral value to cover the remaining outstanding balance, which is in some cases net of partial charge-offs recognized. The following table summarizes the activity in the ACL for the periods indicated (in thousands): As detailed in the following table, criticized and classified commercial loans declined during the quarter ended June 30, 2025 (in thousands): Total criticized and classified loans declined by $156 million for the quarter ended June 30, 2025, although total non-accrual loans increased by $117 million. Of the net increase, $86 million was office related exposure. At June 30, 2025, 75% of non-accrual loans were current. Net Interest Income Net interest income for the quarter ended June 30, 2025 was $246.1 million, compared to $233.1 million for the immediately preceding quarter ended March 31, 2025, a 5.6% increase. Net interest income increased by 8.9% compared to $226.0 million for the quarter ended June 30, 2024. Interest income increased by $10.1 million for the quarter ended June 30, 2025 while interest expense decreased by $2.9 million. The quarter-over-quarter increase in interest income was primarily related to higher yields on loans. The decline in interest expense related to both a lower average cost of funds and lower average balance of interest bearing liabilities. The Company's net interest margin, calculated on a tax-equivalent basis, increased by 0.12% to 2.93% for the quarter ended June 30, 2025, from 2.81% for the immediately preceding quarter ended March 31, 2025. Factors impacting the net interest margin for the quarter ended June 30, 2025 were: The net interest margin was positively impacted by the increase in average NIDDA as a percentage of both total deposits and total funding. Average NIDDA grew by $581 million for the quarter ended June 30, 2025, while average interest bearing deposits declined by $290 million. The average rate paid on interest bearing deposits declined to 3.48% for the quarter ended June 30, 2025, from 3.54% for the quarter ended March 31, 2025. This decline reflected the maturity of higher-rate term deposits, a reduction in higher priced brokered deposits and continued pricing discipline. The tax-equivalent yield on loans increased to 5.55% for the quarter ended June 30, 2025, from 5.48% for the quarter ended March 31, 2025. This increase reflects the origination of new loans at higher rates, paydowns and maturities of lower rate loans and balance sheet repositioning. The average rate paid on FHLB advances increased to 3.79% for the quarter ended June 30, 2025 from 3.69% for the quarter ended March 31, 2025, primarily due to the expiration of cash flow hedges, partially offset by maturities of higher rate advances. Earnings Conference Call and Presentation A conference call to discuss quarterly results will be held at 9:00 a.m. ET on Wednesday, July 23, 2025 with Chairman, President and Chief Executive Officer Rajinder P. Singh, Chief Financial Officer Leslie N. Lunak 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 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 To participate by telephone, participants will receive dial-in information and a unique PIN number upon completion of registration at For those unable to join the live event, an archived webcast will be available on the Investor Relations page at approximately two hours following the live webcast. About BankUnited, Inc. BankUnited, Inc., with total assets of $35.5 billion at June 30, 2025, is the bank holding company of BankUnited, N.A., a national bank headquartered in Miami Lakes, Florida that provides a full range of banking and related services to individual and corporate customers through banking centers located in the state of Florida, the New York metropolitan area and Dallas, Texas, and a comprehensive suite of wholesale products to customers through an Atlanta office focused on the Southeast region. BankUnited also offers certain commercial lending and deposit products through national platforms. For additional information, call (877) 779-2265 or visit BankUnited can be found on Facebook at LinkedIn @BankUnited and on X @BankUnited. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the Company's current views with respect to, among other things, future events and financial performance. The Company generally identifies forward-looking statements by terminology such as 'outlook,' 'believes,' 'expects,' 'potential,' 'continues,' 'may,' 'will,' 'could,' 'should,' 'seeks,' 'approximately,' 'predicts,' 'intends,' 'plans,' 'estimates,' 'anticipates,' "forecasts" or the negative version of those words or other comparable words. Any forward-looking statements contained in this press release are based on the historical performance of the Company and its subsidiaries or on the Company's current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by the Company that the future plans, estimates or expectations contemplated by the Company will be achieved. Such forward-looking statements are subject to various risks and uncertainties and assumptions, including (without limitation) those relating to the Company's operations, financial results, financial condition, business prospects, growth strategy and liquidity, including as impacted by external circumstances outside the Company's direct control, such as but not limited to adverse events or conditions impacting the financial services industry. If one or more of these or other risks or uncertainties materialize, or if the Company's underlying assumptions prove to be incorrect, the Company's actual results may vary materially from those indicated in these statements. These factors should not be construed as exhaustive. The Company does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. A number of important factors could cause actual results to differ materially from those indicated by the forward-looking statements. Information on these factors can be found in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K, which are available at the SEC's website ( BANKUNITED, INC. AND SUBSIDIARIES AVERAGE BALANCES AND YIELDS (Dollars in thousands) Assets: Interest earning assets: Loans $ 23,901,218 $ 330,805 5.55 % $ 23,933,938 $ 324,113 5.48 % $ 24,290,169 $ 353,707 5.85 % Investment securities (3) 9,352,504 118,046 5.06 % 9,104,228 114,590 5.07 % 8,894,517 124,572 5.60 % Other interest earning assets 807,721 8,343 4.14 % 788,547 8,436 4.33 % 711,586 8,986 5.08 % Total interest earning assets 34,061,443 457,194 5.38 % 33,826,713 447,139 5.34 % 33,896,272 487,265 5.77 % Allowance for credit losses (227,191 ) (228,158 ) (225,161 ) Non-interest earning assets 1,370,990 1,376,904 1,571,649 Total assets $ 35,205,242 $ 34,975,459 $ 35,242,760 Liabilities and Stockholders' Equity: Interest bearing liabilities: Interest bearing demand deposits $ 5,407,538 $ 45,689 3.39 % $ 4,811,826 $ 39,893 3.36 % $ 3,742,071 $ 35,249 3.79 % Savings and money market deposits 10,355,700 88,023 3.41 % 10,833,734 91,779 3.44 % 11,176,000 118,945 4.28 % Time deposits 3,919,526 36,983 3.79 % 4,326,750 42,538 3.99 % 4,750,640 53,897 4.56 % Total interest bearing deposits 19,682,764 170,695 3.48 % 19,972,310 174,210 3.54 % 19,668,711 208,091 4.26 % FHLB advances 2,941,264 27,828 3.79 % 2,991,389 27,206 3.69 % 3,764,286 40,032 4.28 % Notes and other borrowings 709,081 9,137 5.16 % 709,037 9,134 5.15 % 711,167 9,153 5.15 % Total interest bearing liabilities 23,333,109 207,660 3.57 % 23,672,736 210,550 3.61 % 24,144,164 257,276 4.28 % Non-interest bearing demand deposits 7,993,915 7,413,117 7,448,633 Other non-interest bearing liabilities 931,879 1,004,917 960,691 Total liabilities 32,258,903 32,090,770 32,553,488 Stockholders' equity 2,946,339 2,884,689 2,689,272 Total liabilities and stockholders' equity $ 35,205,242 $ 34,975,459 $ 35,242,760 Net interest income $ 249,534 $ 236,589 $ 229,989 Interest rate spread 1.81 % 1.73 % 1.49 % Net interest margin 2.93 % 2.81 % 2.72 % Expand _______________________________ (1) On a tax-equivalent basis where applicable (2) Annualized (3) At fair value Expand BANKUNITED, INC. AND SUBSIDIARIES AVERAGE BALANCES AND YIELDS (Dollars in thousands) Six Months Ended June 30, 2025 2024 Assets: Interest earning assets: Loans $ 23,917,488 $ 654,918 5.51 % $ 24,313,806 $ 704,149 5.82 % Investment securities (3) 9,229,050 232,636 5.06 % 8,923,485 249,596 5.59 % Other interest earning assets 801,797 16,779 4.22 % 737,523 19,024 5.19 % Total interest earning assets 33,948,335 904,333 5.36 % 33,974,814 972,769 5.74 % Allowance for credit losses (227,672 ) (215,954 ) Non-interest earning assets 1,370,321 1,580,491 Total assets $ 35,090,984 $ 35,339,351 Liabilities and Stockholders' Equity: Interest bearing liabilities: Interest bearing demand deposits $ 5,111,328 $ 85,582 3.37 % $ 3,663,217 $ 68,756 3.77 % Savings and money market deposits 10,593,396 179,802 3.42 % 11,205,130 237,584 4.26 % Time deposits 4,122,014 79,521 3.89 % 4,990,909 111,749 4.50 % Total interest bearing deposits 19,826,738 344,905 3.50 % 19,859,256 418,089 4.23 % FHLB advances 2,966,188 55,034 3.74 % 4,167,253 87,528 4.22 % Notes and other borrowings 709,059 18,271 5.16 % 710,092 18,276 5.15 % Total interest bearing liabilities 23,501,985 418,210 3.58 % 24,736,601 523,893 4.26 % Non-interest bearing demand deposits 7,705,120 7,004,780 Other non-interest bearing liabilities 968,195 933,479 Total liabilities 32,175,300 32,674,860 Stockholders' equity 2,915,684 2,664,491 Total liabilities and stockholders' equity $ 35,090,984 $ 35,339,351 Net interest income $ 486,123 $ 448,876 Interest rate spread 1.78 % 1.48 % Net interest margin 2.87 % 2.64 % Expand _______________________________ (1) On a tax-equivalent basis where applicable (2) Annualized (3) At fair value Expand BANKUNITED, INC. AND SUBSIDIARIES EARNINGS PER COMMON SHARE (In thousands except share and per share amounts) Three Months Ended Six Months Ended June 30, 2025 March 31, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Basic earnings per common share: Numerator: Net income $ 68,766 $ 58,476 $ 53,733 $ 127,242 $ 101,713 Distributed and undistributed earnings allocated to participating securities (979 ) (821 ) (748 ) (1,799 ) (1,429 ) Income allocated to common stockholders for basic earnings per common share $ 67,787 $ 57,655 $ 52,985 $ 125,443 $ 100,284 Denominator: Weighted average common shares outstanding 75,222,756 74,918,750 74,762,498 75,071,593 74,635,803 Less average unvested stock awards (1,124,872 ) (1,101,408 ) (1,110,233 ) (1,113,205 ) (1,119,035 ) Weighted average shares for basic earnings per common share 74,097,884 73,817,342 73,652,265 73,958,388 73,516,768 Basic earnings per common share $ 0.91 $ 0.78 $ 0.72 $ 1.70 $ 1.36 Diluted earnings per common share: Numerator: Income allocated to common stockholders for basic earnings per common share $ 67,787 $ 57,655 $ 52,985 $ 125,443 $ 100,284 Adjustment for earnings reallocated from participating securities 5 4 2 9 4 Income used in calculating diluted earnings per common share $ 67,792 $ 57,659 $ 52,987 $ 125,452 $ 100,288 Denominator: Weighted average shares for basic earnings per common share 74,097,884 73,817,342 73,652,265 73,958,388 73,516,768 Dilutive effect of certain share-based awards 523,812 562,488 365,988 543,043 310,906 Weighted average shares for diluted earnings per common share 74,621,696 74,379,830 74,018,253 74,501,431 73,827,674 Diluted earnings per common share $ 0.91 $ 0.78 $ 0.72 $ 1.68 $ 1.36 Expand BANKUNITED, INC. AND SUBSIDIARIES SELECTED RATIOS June 30, 2025 March 31, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Financial ratios (4) Return on average assets 0.78 % 0.68 % 0.61 % 0.73 % 0.58 % Return on average stockholders' equity 9.4 % 8.2 % 8.0 % 8.8 % 7.7 % Net interest margin (3) 2.93 % 2.81 % 2.72 % 2.87 % 2.64 % Loans to deposits 83.6 % 85.5 % 88.7 % 83.6 % 88.7 % Tangible book value per common share $ 38.23 $ 37.48 $ 35.07 $ 38.23 $ 35.07 Expand June 30, 2025 March 31, 2025 December 31, 2024 Asset quality ratios Non-performing loans to total loans (1)(5) 1.57 % 1.08 % 1.03 % Non-performing assets to total assets (2)(5) 1.08 % 0.76 % 0.73 % ACL to total loans 0.93 % 0.92 % 0.92 % Commercial ACL to commercial loans (6) 1.36 % 1.34 % 1.37 % ACL to non-performing loans (1)(5) 59.18 % 84.58 % 89.01 % Net charge-offs to average loans (7) 0.27 % 0.33 % 0.16 % Expand _______________________________ (1) We define non-performing loans to include non-accrual loans and loans other than purchased credit deteriorated and government insured residential loans that are past due 90 days or more and still accruing. Contractually delinquent purchased credit deteriorated and government insured residential loans on which interest continues to be accrued are excluded from non-performing loans. (2) Non-performing assets include non-performing loans, OREO and other repossessed assets. (3) On a tax-equivalent basis. (4) Annualized for the three and six month periods as applicable. (5) Non-performing loans and assets include the guaranteed portion of non-accrual SBA loans totaling $35.9 million or 0.15% of total loans and 0.10% of total assets at June 30, 2025, $33.0 million or 0.14% of total loans and 0.09% of total assets at March 31, 2025, and $34.3 million or 0.14% of total loans and 0.10% of total assets at December 31, 2024. (6) For purposes of this ratio, commercial loans includes the C&I and CRE sub-segments, as well as franchise and equipment finance. Due to their unique risk profiles, MWL and municipal finance are excluded from this ratio. (7) Annualized for the three months ended March 31, 2025 and the six months ended June 30, 2025; ratio for December 31, 2024 represents annual net charge-off rate. Expand Non-GAAP Financial Measures Tangible book value per common share is a non-GAAP financial measure. Management believes this measure is relevant to understanding the capital position and performance of the Company. Disclosure of this non-GAAP financial measure also provides a meaningful basis for comparison to other financial institutions as it is a metric commonly used in the banking industry. The following table reconciles the non-GAAP financial measurement of tangible book value per common share to the comparable GAAP financial measurement of book value per common share at the dates indicated (in thousands except share and per share data):
Indian Express
23-07-2025
- Politics
- Indian Express
Decode Politics: Why Haryana fertiliser crisis has landed Saini govt in a spot
Farmers across Haryana have been struggling to obtain urea and di-ammonium phosphate (DAP) fertilisers in recent days, even as the BJP-led state government has continued to claim that there was no shortage of fertilisers. However, many farmers seem to have joined long queues, braving heavy rains in their bid to secure fertilisers. In Charkhi Dadri district, for instance, police were deployed to ensure orderly distribution amid growing tensions on Monday. Protests have already erupted at several locations across the state. With over two-thirds of Haryana's population directly or indirectly reliant on agriculture, the issue has taken centre stage in state politics. The Opposition has seized on the crisis, attacking the government for what it calls a failure to ensure uninterrupted fertiliser supply. As the second-largest contributor to India's Central foodgrain pool, Haryana — often referred to as the 'bread basket of India' along with Punjab — finds itself in the middle of a agricultural row and a political showdown. Haryana officials cite two main reasons behind the current panic over a shortage of fertilisers. The first is the advance sowing of paddy prompted by early monsoon rains in the region. The second is the announcement by the state government that the fertiliser distribution would soon be restricted to farmers registered on the government's 'Meri Fasal-Mera Byora' portal, detailing crops sown on their land. Officials believe this shift has triggered anxiety among farmers, many of whom fear they might be left out of the fertiliser supply system. As one official noted, 'Even those farmers who don't need urea and DAP immediately have rushed to procure them, creating panic across farming communities.' In part, the panic has also been rooted in previous years' fertiliser shortfalls. Government figures show that of the 10.07 lakh metric tonnes (MT) of urea allocated for this season, 5.8 lakh MT has already arrived in the state. Combined with the earlier stock of 2.7 lakh MT, total availability is 8.5 lakh MT, with 7.5 lakh MT already sold. 'Farmers only need 5.91 lakh MT of urea from April 1 to July 19,' an official claimed. Regarding DAP fertilisers, officials said that 1.46 lakh MT had landed in Haryana against an allocation of 2.83 lakh MT, with 1.1 lakh MT sold and 36,000 MT currently in stock. An additional 5,467 MT is in transit. Farmers needed 1.37 lakh MT for the April-July period, according to the officials. Farmer leaders, however, argue this crisis is 'real and urgent'. Rakesh Bains, a Bharatiya Kisan Union (BKU) leader from Kurukshetra, said, 'The farmers immediately need urea for their crop of paddy but they want to take DAP too to meet their future needs.' Tejveer Singh of the BKU (Shaheed Bhagat Singh) said, 'Farmers in rural areas are struggling more to obtain fertilisers than those living near towns.' On July 17, angry protesters allegedly held an agriculture department official hostage in Pehowa and blocked the Hisar-Chandigarh highway. Congress leader and former chief minister Bhupinder Singh Hooda and INLD chief Abhay Singh Chautala accused the Nayab Singh Saini-led BJP government of 'failing' to maintain uninterrupted fertiliser supply. Deepender Singh Hooda, the Congress's Rohtak MP, said, 'With the kharif season's planting in full swing, farmers are deeply worried about saving their crops due to the unavailability of fertilisers. Even women and children from farmers' families are forced to wait in long queues through the night for several days — yet they still don't receive sufficient quantities of DAP and urea.' State Agriculture and Farmers Welfare Minister Shyam Singh Rana held a video-conference meeting with senior officials Tuesday to assess the fertiliser situation in Haryana. Rana reiterated that there was no shortage of fertilisers in any district and assured that the supply was being managed according to the demand. Rana said the government has intensified its vigilance and enforcement efforts to curb black marketing, hoarding, adulteration, and illegal tagging (a practice that often forces farmers to buy substandard products) of fertilisers. As part of these measures, 1,974 inspections have recently been conducted across Haryana. The crackdown has resulted in the registration of eight FIRs, suspension of 26 dealer licences, revocation of one licence, and issuance of 96 show-cause notices. The minister also appealed to farmers to purchase fertilisers based strictly on the immediate requirements of the kharif season. He urged them to refrain from stockpiling fertilisers for the Rabi season in advance, cautioning that such practices could lead to unnecessary shortages and disrupt equitable distribution. Amid a DAP fertiliser crisis last year, the Centre in November 2024 allocated 1.1 lakh MT of DAP to farmers in Haryana. At the time, the Saini government said it had been in touch with Union Chemical and Fertilisers Minister J P Nadda to ensure timely supply of the allocated fertiliser. Then too, the state government had said there was no fertiliser shortage. Haryana had faced fertiliser shortages under the previous Manohar Lal Khattar-led BJP government too. In 2021, for instance, a spike in global prices had hurt India's import capacity. Since last year, the Centre has sought to discourage farmers from applying too much urea and DAP as a key policy goal. In recent years, global disruptions like the Russian invasion of Ukraine, have led to shocks in the supply of fertiliser in India, which is heavily dependent on its imports. The rupee's depreciation has also had a negative impact on imports.
