BankUnited, Inc.
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Item 1. Business
Overview
BankUnited, Inc., with total consolidated assets of $35.0 billion at December 31, 2025, is a bank holding company with one direct wholly-owned subsidiary, BankUnited, collectively, the Company. BankUnited, a national banking association headquartered in Miami Lakes, Florida, with operations in Florida, New York Tri-State, Dallas, Atlanta, and Charlotte. 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 and certain consumer deposit products through an online channel. Our core business strategy is to build a leading regional commercial and small business bank with a distinctive value proposition based on strong service-oriented relationships, robust digital enabled customer experiences and operational excellence, and with an entrepreneurial work environment that empowers employees to deliver their best. To date, we have executed our strategy primarily through organic growth and anticipate that we will most likely continue to do so, although we will evaluate and consider opportunities to engage in merger and acquisition activity when they arise.
Our Products and Services
Lending
General—Our primary lending focus is to serve small, middle-market and larger corporate businesses with a variety of financial products and services while maintaining a disciplined credit culture. We offer a full array of lending products that cater to our customers' needs and have attracted and invested in experienced relationship management teams in our primary lending markets.
Commercial loans—Our commercial loans, which are generally made to growing small business, middle-market and larger corporate entities and non-profit organizations, include secured and unsecured lines of credit, formula-based lines of credit, equipment loans, owner-occupied commercial real estate term loans and lines of credit, mortgage warehouse lines, subscription finance facilities, letters of credit, commercial credit cards, SBA and USDA product offerings, Export-Import Bank financing products, trade finance and business acquisition finance credit facilities.
The Bank has two commercial lending subsidiaries, Pinnacle, headquartered in Scottsdale, Arizona and Bridge, headquartered in Baltimore, Maryland. Pinnacle provides financing to state and local governmental entities directly and through vendor programs and alliances. Pinnacle offers a full array of financing structures including essential use equipment lease purchase and loan agreements and direct (private placement) bond refundings. The Bridge portfolio consists of (i) businesses equipment loans and leases, including finance lease and operating lease structures, and (ii) franchise equipment, acquisition and expansion financing facilities. The Bridge lines of business have been de-emphasized due to their risk/return and liquidity profiles. We expect that related loan balances will continue to decline.
Commercial real estate loans—We offer term financing for the acquisition or refinancing of properties, primarily rental apartments, mixed-use commercial properties, industrial properties, warehouses, retail shopping centers, free-standing single-tenant buildings, office buildings and hotels. Other products that we provide include real estate secured lines of credit, lending to REITs and institutional asset owners, subscription lines of credit to real estate funds, and, to a lesser extent, acquisition, development and construction loan facilities and construction financing. In the current environment, we have de-emphasized lending in the office sector and been more focused on warehouse/industrial, multi-family and the retail sectors. While we have a small amount of New York rent regulated multi-family loans, we are not actively engaged in lending in this sub-sector.
Residential mortgages—We do not originate residential mortgages, but do invest in residential loans originated through established correspondent channels and community partners. Our residential loan portfolio is primarily comprised of loans purchased on a national basis through select correspondent channels. This national purchase program allows us to diversify our loan portfolio, both by product type and geography. Residential loans purchased are primarily closed-end, first lien jumbo mortgages for the purchase or re-finance of owner-occupied property. A limited portion of the portfolio is secured by investor-owned properties. We do not originate or purchase negatively amortizing or sub-prime residential loans. We also acquire non-performing FHA and VA insured mortgages from third party servicers who have exercised their right to purchase these loans out of GNMA securitizations. Such loans that re-perform, either through modification or self-cure, may be eligible for re-securitization. The Company and the servicer share in the economics of the sale of these loans into new securitizations.
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Other consumer loans—We do not originate, or currently intend to originate a significant amount of consumer loans. Home equity loans and lines of credit and other consumer loans are not significant components of our loan portfolio or of our lending strategy.
Credit risk management—Credit is managed through our three lines of defense framework as prescribed in our credit policies and procedures.
•First Line of Defense - Credit opportunities are sourced, analyzed, recommended and managed by our lines of business in accordance with established credit procedures.
•Second Line of Defense - Our Credit Administration division, reporting to the Chief Risk Officer, is responsible for the evaluation and approval of recommended credit opportunities. Approval of credit and confirmation of risk ratings is performed within a risk-based delegated credit approval framework. The Credit Administration division also provides governance and oversight of our credit policies and procedures.
•Third Line of Defense - Credit Review, reporting directly to the Risk Committee of the Board of Directors, provides an independent assessment of credit risk and the effectiveness of credit risk management processes across the organization. Credit Review performs risk-based testing through both examinations and ongoing monitoring.
Asset oversight committees meet at least quarterly and provide oversight of key credit governance, transactional and credit management functions. These committees include:
•Credit Risk Management Committee with responsibilities including credit governance policies and procedures and changes thereto and establishing and maintaining the delegated credit approval framework;
•Executive Credit Committee with responsibilities including transactional credit approval for large and/or complex credit exposures as well as the approval of periodic asset monitoring reports for large and/or complex credit exposures;
•Criticized Asset Committee with responsibilities including the evaluation and oversight of higher risk assets and oversight of workout and recovery functions; and
•Residential Credit Risk Management Committee with responsibilities including residential portfolio performance monitoring and certain bulk purchase transactional authorities.
Our in-house lending limits, ranging from $125 million to $150 million, are based upon loan type and are further limited by risk-based hold limits that incorporate our assessment of the borrower’s financial condition and industry exposure. These limits are significantly below our legal lending limit and are reviewed periodically by the Credit Risk Management Committee and approved annually by the Board of Directors.
Deposit and Treasury Solutions Products
We offer traditional deposit products including commercial and consumer checking accounts, money market deposit accounts, savings accounts and certificates of deposit with a variety of terms and rates, as well as a robust suite of treasury, payments and cash management services. We offer commercial and retail deposit products across our primary geographic footprint and certain commercial deposit, payments and treasury management products and services nationally. We offer the CDARS program, providing additional FDIC insurance to our customers. We also offer other insured cash sweep programs allowing customers the ability to insure deposits above standard FDIC deposit insurance limits by distributing funds among banks that participate in the network while providing competitive rates and easy access to funds. For our consumers, we offer competitive money market and time deposit products through our online channel as well as through our retail branch network. Demand deposit balances are concentrated in commercial and small business accounts and our deposit growth strategy is focused on small business and middle market companies generally, as well as select industry verticals such as the title services and HOA industry segments. Our service fee schedule and rates are competitive with other financial institutions in our markets. We do not charge consumer overdraft or NSF fees.
Our Markets
Our largest banking market is Florida, followed by the Tri-State market of New York, concentrated in the New York Metropolitan area. We believe both represent long-term attractive banking markets. In Florida, our focus is on urban markets including the Miami-Dade, Broward, Palm Beach, Tampa, Orlando and Jacksonville markets.
We have more recently entered the Atlanta, Dallas and Charlotte markets; in Charlotte with a wholesale banking office focused on the Southeastern United States, and in Atlanta and Dallas with a retail branches as well as full-service wholesale
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banking capabilities. Our future strategy may include organic expansion into other markets, but no specific additional markets have been identified at this time.
Through our NTS and HOA businesses, we offer a suite of commercial deposit, treasury solutions and cash management products nationally. The Bank also provides mortgage warehouse financing and through Pinnacle and BFG, we also offer municipal, equipment and franchise financing; all on a national basis.
Competition
Our primary markets are highly competitive, containing not only a large number of community and regional banks, but also a significant presence of the country's largest commercial banks. We compete with other state, national and foreign banks as well as savings associations, savings banks and credit unions with physical presence in our market areas or targeting our market areas digitally for deposits and loans. In addition, we compete with financial intermediaries, such as private credit funds, FinTech companies, consumer finance companies, mortgage banking companies, insurance companies, securities firms, mutual funds and several government agencies as well as major retailers, all actively engaged in providing various types of loans and other financial services.
Interest rates on both loans and deposits and prices of fee-based services are significant competitive factors among financial institutions generally. Other important competitive factors include convenience, quality of customer service, quality and variety of product offerings, availability and quality of digital offerings, community reputation, continuity of personnel and services, and, in the case of larger commercial customers, relative lending limits and ability to offer sophisticated cash management and other commercial banking services. While we continue to provide competitive interest rates on both depository and lending products, we believe that we can compete most successfully by focusing on the financial needs of growing companies and small and middle-market businesses, offering them a broad range of personalized services, digital platforms and sophisticated cash management tools tailored to their businesses.
Regulation and Supervision
The U.S. banking industry is highly regulated under federal and state law. These regulations have a material effect on the operations of BankUnited, Inc. and its direct and indirect subsidiaries.
Statutes, regulations and policies limit the activities in which we may engage and the conduct of our permitted activities and establish capital requirements with which we must comply. The regulatory framework is intended primarily for the protection of depositors, borrowers, customers and clients, the FDIC deposit insurance fund and the banking system as a whole, and not for the protection of our stockholders or creditors. In many cases, the applicable regulatory authorities have broad enforcement power over BHCs, banks and their subsidiaries, including the power to impose substantial monetary fines and other penalties for violations of laws and regulations or engaging in unsafe and unsound banking practices. Further, the regulatory system imposes reporting and information collection obligations. We incur significant costs related to compliance with these laws and regulations.
The material statutory and regulatory requirements that are applicable to us are summarized below. The description below is not intended to summarize all laws and regulations applicable to us and is qualified in its entirety by reference to the full text of the statutes, regulations, policies and other written guidance that are described.
Bank and Bank Holding Company Regulation
As a national bank, BankUnited is subject to ongoing and comprehensive supervision, regulation, examination and enforcement by the OCC.
BankUnited, Inc., which controls BankUnited, is a BHC and, as such, is subject to regulation, inspection, supervision and enforcement by the Federal Reserve Board under the BHC Act. The Federal Reserve Board's jurisdiction also extends to any company that is directly or indirectly controlled by BankUnited, Inc.
Broad Supervision, Examination and Enforcement Powers
A principal objective of the U.S. bank regulatory system is to protect depositors by ensuring the financial safety and soundness of banking organizations. To that end, the banking regulators have broad regulatory, examination and enforcement authority. The regulators regularly examine the operations of banking organizations. In addition, banking organizations are subject to periodic reporting requirements.
The regulators have various remedies available if they determine that the financial condition, capital resources, asset quality, earnings prospects, management, liquidity, sensitivity to market risk, compliance or other aspects of a banking
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organization's operations are less than satisfactory, or that the banking organization is operating in an unsafe or unsound manner. The regulators may also take action if they determine that the banking organization or its management is violating or has violated any law or regulation. The regulators have the power to, among other things:
•enjoin "unsafe or unsound" practices;
•require affirmative actions to correct any violation or practice;
•issue administrative orders that can be judicially enforced;
•refer allegations of significant consumer compliance violations to the U.S. Justice Department;
•direct increases in capital;
•direct the sale of subsidiaries or other assets;
•limit dividends and distributions;
•restrict growth, including new retail branch openings;
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Financial statements
data from SEC XBRL filings. Values are as-reported; restatements supersede originals. Values reported in .
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Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
The following discussion and analysis is intended to focus on significant matters impacting and changes in the financial condition and results of operations of the Company during the three and six months ended June 30, 2026 and should be read in conjunction with the consolidated financial statements and notes hereto included in this Quarterly Report on Form 10-Q and BKU's 2025 Annual Report on Form 10-K for the year ended December 31, 2025 (the "2025 Annual Report on Form 10-K").
Forward-Looking Statements
This Quarterly Report on Form 10-Q 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. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” "future", "could", and similar expressions identify forward-looking statements. These forward-looking statements are based on the historical performance of the Company 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 so contemplated will be achieved. Such forward-looking statements are subject to various risks and uncertainties and assumptions 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 (1) an inability to successfully execute our core business strategy; (2) adverse events or conditions impacting the financial services industry, (3) our ability to access capital, including the impact of our credit rating; (4) credit risk inherent in the business of making loans and embedded in our securities portfolio, including inadequate allowance for credit losses and real estate market conditions and valuations; (5) interest rate risk, (6) liquidity risks, (7) risks related to the regulation of our industry, (8) operational risk, including dependence on information technology and third party service providers and the risk of systems failures, interruptions or breaches of security or inability to keep pace with technological change; (9) reputational risk, (10) the impact of conditions in the financial markets and economic conditions generally; (11) ineffective risk management or internal controls; and (12) the selection and application of accounting policies and methods and related assumptions and estimates. 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. A number of important factors could cause actual results to differ materially from those indicated by the forward-looking statements, including, but not limited to, the risk factors described in Part I, Item 1A of the 2025 Annual Report on Form 10-K and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K. 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.
Executive Overview
Quarterly Highlights
In evaluating our financial performance, we consider (i) the funding mix and the composition of interest earning assets; (ii) the level of and trends in net interest income and the net interest margin; (iii) the cost of deposits, trends in non-interest income and non-interest expense; (iv) performance ratios such as the return on average equity and return on average assets and trends in those metrics; and (v) asset quality metrics, including the level of criticized and classified assets, the ratios of non-performing loans to total loans and non-performing assets to total assets, delinquency and net charge-off rates, as well as trends in those metrics. We analyze these ratios and trends against our own historical performance, our expected performance, our risk appetite and the financial condition and performance of comparable financial institutions.
Second quarter 2026 results compared to first quarter 2026:
•Net income was $70.7 million, or $0.97 per diluted share, up from $61.9 million, or $0.83, per diluted share.
•PPNR, a non-GAAP measure, increased by 3%, to $109.9 million from $106.3 million.
•Annualized ROAA increased to 0.81% from 0.72% and annualized ROAE improved to 9.3% from 8.1%.
•The net interest margin, calculated on a tax-equivalent basis, expanded to 3.06%, up 0.07%, from 2.99%.
•Total deposits, excluding brokered deposits, grew by $1 billion.
•NIDDA increased by $991 million, or 11%, and represented 34% of total deposits; average NIDDA was up 7% or $564 million.
•Wholesale funding, including FHLB advances and brokered deposits, declined by $1.4 billion reflecting continued balance sheet repositioning.
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•Total loans declined by $206 million due to continued purposeful runoff in non-core loans. Average core loans increased by $195 million.
•Total criticized and classified loans increased by $7 million, or 1%, while non-performing loans declined by $51 million, or 19%. The NPA ratio improved to 0.66%, down 0.13%; the annualized net charge-off ratio was 0.11%, down 0.50%.
•The ratio of the ACL to total loans increased to 0.91% from 0.87%; the ratio of the ACL to non-performing loans increased to 97.14% from 75.90%; the provision for credit losses was down $9 million.
•At June 30, 2026, CET1 was 12.3%; the ratio of tangible common equity to tangible assets was 8.4%.
•Book value and tangible book value per common share were, $41.55 and $40.48, respectively, at June 30, 2026, compared to $41.11 and $40.05, respectively, at March 31, 2026.
•The Company repurchased approximately 1.1 million shares of its common stock for an aggregate purchase price of $50.1 million.
Our results for the second quarter of 2026 were driven primarily by continued balance sheet repositioning and improvements in funding mix. Growth in NIDDA and core deposits in general, together with lower brokered deposits and wholesale funding, contributed to lower funding costs and higher net interest margin. Profitability improved during the quarter, as reflected in increases in net income, pre-provision net revenue and returns on average assets and equity. Asset quality metrics also improved, including lower non-performing loan and net charge-off ratios, while capital and tangible book value metrics remained strong.
Results of Operations
Net Interest Income
Net interest income is the difference between interest earned on interest earning assets and interest incurred on interest bearing liabilities and is the primary driver of core earnings. Net interest income is impacted by the mix of interest earning assets and interest bearing liabilities, the ratio of interest earning assets to total assets and of interest bearing liabilities to total funding sources, movements in market interest rates and monetary policy, the shape of the yield curve, levels of non-performing assets and pricing pressure from competitors.
The mix of interest earning assets is influenced by loan demand, market and competitive conditions in our primary lending markets, by management's continual assessment of the rate of return and relative risk associated with various classes of earning assets and liquidity considerations. The mix of funding sources is influenced by the Company's liquidity profile, management's assessment of the desire for lower-cost funding sources weighed against relationships with customers, our ability to attract and retain core deposit relationships, competition for deposits in the Company's markets and the availability and pricing of other sources of funds.
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The following table presents, for the periods indicated, information about (i) average balances, the total dollar amount of taxable equivalent interest income from earning assets and the resultant average yields; (ii) average balances, the total dollar amount of interest expense on interest bearing liabilities and the resultant average rates; (iii) net interest income; (iv) the interest rate spread; and (v) the net interest margin. Non-accrual loans are included in the average balances presented in this table; however, interest income foregone on non-accrual loans is not included. Interest income, yields, spread and margin have been calculated on a tax-equivalent basis for loans and investment securities that are exempt from federal income taxes, at a federal tax rate of 21% (dollars in thousands):
| Three Months Ended June 30, | Three Months Ended March 31, | Three Months Ended June 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2026 | 2026 | 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Average Balance | Interest (1) | Yield/ Rate (1)(2) | Average Balance | Interest (1) | Yield/ Rate (1)(2) | Average Balance | Interest (1) | Yield/ Rate (1)(2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Assets: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest earning assets: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loans | $ | 23,839,310 | $ | 315,747 | 5.31 | % | $ | 23,835,417 | $ | 312,812 | 5.31 | % | $ | 23,901,218 | $ | 330,805 | 5.55 | % | |||||||||||||||||||||||||||||||||||||||||||||
Investment securities (3) | 9,381,602 | 108,693 | 4.64 | % | 9,471,480 | 106,953 | 4.55 | % | 9,352,504 | 118,046 | 5.06 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Other interest earning assets | 682,205 | 5,916 | 3.48 | % | 672,001 | 5,794 | 3.49 | % | 807,721 | 8,343 | 4.14 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Total interest earning assets | 33,903,117 | 430,356 | 5.09 | % | 33,978,898 | 425,559 | 5.06 | % | 34,061,443 | 457,194 | 5.38 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses | (213,533) | (218,808) | (227,191) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-interest earning assets | 1,356,431 | 1,328,791 | 1,370,990 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets | $ | 35,046,015 | $ | 35,088,881 | $ | 35,205,242 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Liabilities and Stockholders' Equity: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest bearing liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest bearing demand deposits | $ | 6,365,179 | $ | 45,432 | 2.87 | % | $ | 6,033,099 | $ | 43,294 | 2.91 | % | $ | 5,407,538 | $ | 45,689 | 3.39 | % | |||||||||||||||||||||||||||||||||||||||||||||
| Savings and money market deposits | 10,083,767 | 72,729 | 2.89 | % | 10,245,692 | 73,278 | 2.90 | % | 10,355,700 | 88,023 | 3.41 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Time deposits | 3,251,965 | 28,444 | 3.51 | % | 3,751,256 | 32,122 | 3.48 | % | 3,919,526 | 36,983 | 3.79 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Total interest bearing deposits | 19,700,911 | 146,605 | 2.99 | % | 20,030,047 | 148,694 | 3.01 | % | 19,682,764 | 170,695 | 3.48 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
| FHLB advances | 2,028,901 | 18,991 | 3.75 | % | 2,193,944 | 19,897 | 3.68 | % | 2,941,264 | 27,828 | 3.79 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Notes and other borrowings | 471,725 | 5,586 | 4.74 | % | 366,487 | 4,608 | 5.03 | % | 709,081 | 9,137 | 5.16 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Total interest bearing liabilities | 22,201,537 | 171,182 | 3.10 | % | 22,590,478 | 173,199 | 3.11 | % | 23,333,109 | 207,660 | 3.57 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-interest bearing demand deposits | 9,027,557 | 8,463,491 | 7,993,915 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other non-interest bearing liabilities | 776,682 | 930,784 | 931,879 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities | 32,005,776 | 31,984,753 | 32,258,903 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stockholders' equity | 3,040,239 | 3,104,128 | 2,946,339 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities and stockholders' equity | $ | 35,046,015 | $ | 35,088,881 | $ | 35,205,242 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net interest income | $ | 259,174 | $ | 252,360 | $ | 249,534 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest rate spread | 1.99 | % | 1.95 | % | 1.81 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net interest margin | 3.06 | % | 2.99 | % | 2.93 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(1)On a tax-equivalent basis where applicable. The tax-equivalent adjustment for tax-exempt loans was $2.8 million for the three months ended June 30, 2026, and $2.7 million for both the three months ended March 31, 2026 and June 30, 2025. The tax-equivalent adjustment for tax-exempt investment securities was $1.1 million for the three months ended June 30, 2026, and $0.7 million for both the three months ended March 31, 2026 and June 30, 2025.
(2)Annualized.
(3)At fair value.
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| Six Months Ended June 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||
| 2026 | 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Average Balance | Interest (1) | Yield/ Rate (1)(2) | Average Balance | Interest (1) | Yield/ Rate (1)(2) | ||||||||||||||||||||||||||||||||||||||||||||||
| Assets: | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest earning assets: | |||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | $ | 23,837,373 | $ | 628,561 | 5.31 | % | $ | 23,917,488 | $ | 654,918 | 5.51 | % | |||||||||||||||||||||||||||||||||||||||
Investment securities (3) | 9,426,293 | 215,644 | 4.59 | % | 9,229,050 | 232,636 | 5.06 | % | |||||||||||||||||||||||||||||||||||||||||||
| Other interest earning assets | 677,425 | 11,710 | 3.49 | % | 801,797 | 16,779 | 4.22 | % | |||||||||||||||||||||||||||||||||||||||||||
| Total interest earning assets | 33,941,091 | 855,915 | 5.07 | % | 33,948,335 | 904,333 | 5.36 | % | |||||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses | (216,156) | (227,672) | |||||||||||||||||||||||||||||||||||||||||||||||||
| Non-interest earning assets | 1,342,393 | 1,370,321 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets | $ | 35,067,328 | $ | 35,090,984 | |||||||||||||||||||||||||||||||||||||||||||||||
| Liabilities and Stockholders' Equity: | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest bearing liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest bearing demand deposits | $ | 6,200,056 | $ | 88,726 | 2.89 | % | $ | 5,111,328 | $ | 85,582 | 3.37 | % | |||||||||||||||||||||||||||||||||||||||
| Savings and money market deposits | 10,164,282 | 146,007 | 2.89 | % | 10,593,396 | 179,802 | 3.42 | % | |||||||||||||||||||||||||||||||||||||||||||
| Time deposits | 3,500,231 | 60,566 | 3.49 | % | 4,122,014 | 79,521 | 3.89 | % | |||||||||||||||||||||||||||||||||||||||||||
| Total interest bearing deposits | 19,864,569 | 295,299 | 3.00 | % | 19,826,738 | 344,905 | 3.50 | % | |||||||||||||||||||||||||||||||||||||||||||
FHLB advances | 2,110,967 | 38,889 | 3.72 | % | 2,966,188 | 55,034 | 3.74 | % | |||||||||||||||||||||||||||||||||||||||||||
| Notes and other borrowings | 419,396 | 10,193 | 4.86 | % | 709,059 | 18,271 | 5.16 | % | |||||||||||||||||||||||||||||||||||||||||||
| Total interest bearing liabilities | 22,394,932 | 344,381 | 3.10 | % | 23,501,985 | 418,210 | 3.58 | % | |||||||||||||||||||||||||||||||||||||||||||
| Non-interest bearing demand deposits | 8,747,082 | 7,705,120 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Other non-interest bearing liabilities | 853,307 | 968,195 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities | 31,995,321 | 32,175,300 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Stockholders' equity | 3,072,007 | 2,915,684 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities and stockholders' equity | $ | 35,067,328 | $ | 35,090,984 | |||||||||||||||||||||||||||||||||||||||||||||||
| Net interest income | $ | 511,534 | $ | 486,123 | |||||||||||||||||||||||||||||||||||||||||||||||
| Interest rate spread | 1.97 | % | 1.78 | % | |||||||||||||||||||||||||||||||||||||||||||||||
| Net interest margin | 3.03 | % | 2.87 | ||||||||||||||||||||||||||||||||||||||||||||||||
Recent insider activity
| Date | Insider | Role | Action | Shares | Price | Value |
|---|---|---|---|---|---|---|
| 2026-08-13 | PAULS DOUGLAS J | Director | Sell | -3,000 | $47.90 | -$143,700 |
| 2026-06-15 | Richards Jay D. | Officer of Subsidiary | Sell | -4,000 | $48.67 | -$194,680 |
| 2026-06-01 | DiGiacomo John N. | Director | Sell | -1,000 | $45.97 | -$45,970 |
Source: SEC Form 4 filings.
Next expected filings
- ~2026-11-06 10-Q expected by 2026-11-11 (in 82 days)
- ~2027-02-25 10-K expected by 2027-02-28 (in 193 days)
- ~2027-05-08 10-Q expected by 2027-05-13 (in 265 days)
- ~2027-08-07 10-Q expected by 2027-08-12 (in 356 days)
Predicted from historical filing cadence; not an SEC commitment.
Recent SEC filings
- 2026-08-06 10-Q Quarterly Report
- 2026-07-22 8-K Earnings Release; Financial Statements and Exhibits
- 2026-05-27 S-8 Employee Benefit Plan Registration
- 2026-05-21 8-K Officer/Director Change; Shareholder Vote Results
- 2026-05-12 8-K Officer/Director Change; Financial Statements and Exhibits
- 2026-05-07 10-Q Quarterly Report
- 2026-04-22 8-K Earnings Release; Financial Statements and Exhibits
- 2026-04-10 DEF 14A Proxy Statement
- 2026-02-26 10-K Annual Report
- 2026-01-21 8-K Earnings Release; Other Events; Financial Statements and Exhibits
- 2025-11-21 8-K Officer/Director Change; Financial Statements and Exhibits
- 2025-11-10 8-K Officer/Director Change; Regulation FD Disclosure
- 2025-11-05 10-Q Quarterly Report
- 2025-10-22 8-K Earnings Release; Financial Statements and Exhibits
- 2025-08-22 8-K Material Agreement Entered