BankUnited, Inc. (Form: 8-K, Received: 01/21/2026 06:48:32)

0001504008false00015040082026-01-212026-01-210001504008exch:XNYS2026-01-212026-01-21

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 21, 2026

(Exact name of registrant as specified in its charter)

Delaware

001-35039

27-0162450

(State of Incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

14817 Oak Lane,

Miami Lakes,

33016

(Address of principal executive offices)

(Zip Code)

(Registrant’s telephone number, including area code): (305) 569-2000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Class

Trading Symbol

Name of Exchange on Which Registered

Common Stock, $0.01 Par Value

BKU

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Item 2.02 Results of Operations and Financial Condition.

On January 21, 2026, BankUnited, Inc. (the “Company”) reported its results for the quarter and year ended December 31, 2025. A copy of the Company’s press release containing this information and slides containing supplemental information related to this release are being furnished as Exhibit 99.1 and Exhibit 99.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.

Item 8.01 Other Events.

On January 20, 2026, the Company's Board of Directors authorized the repurchase of up to $200 million in shares of its outstanding common stock. This authorization is in addition to $55.5 million remaining at December 31, 2025, under our previously announced and authorized share repurchase program. Any repurchases under the program 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 without prior notice at any time.

Item 9.01 Financial Statements and Exhibits.




Exhibit Number	Description

99.1	Press release dated	January 21, 2026
99.2	Supplemental information relating to the press release dated	January 21, 2026

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.




Dated:	January 21, 2026	BANKUNITED, INC.

		/s/ James G. Mackey
		Name:	James G. Mackey
		Title:	Chief Financial Officer




Exhibit Number	Description

99.1	Press release dated	January 21, 2026
99.2	Supplemental information relating to the press release dated	January 21, 2026

BankUnited, Inc. Reports 4Q 2025 Net Income of $69 million, $0.90 Diluted EPS, Reflecting 6 Basis Point NIM Expansion, $485 million Non-Interest Bearing Deposit Growth and $769 million Core Loan Growth.

Full Year 2025 Net Income of $268 million, $3.53 Diluted EPS, Up 15% from Prior Year.

Expands Share Repurchase Program by Additional $200 Million and Quarterly Dividend Increase of $0.02.

Miami Lakes, Fla. — January 21, 2026 — BankUnited, Inc. (the “Company”) (NYSE: BKU) today announced financial results for the quarter and year ended December 31, 2025.

"We are pleased to report strong fourth quarter earnings, concluding an outstanding year for BankUnited. We continue to execute our organic growth strategy which has resulted in strong performance in NIM, ROA, ROE and EPS. In recognition of this strong performance, we are announcing an additional stock buyback authorization of $200 million and an increase to our next quarterly dividend of $0.02 per share" said Rajinder Singh, Chairman, President and Chief Executive Officer.

Fourth Quarter and Full Year 2025 Highlights

Net income was up meaningfully in 2025, increasing 15% compared to 2024.

•4Q 2025 Net Income: $69.3 million, impacted by a $3.8 million software write-down;

◦$0.90 EPS, and annualized ROA of 0.78%.

◦$115.4 million PPNR, up 5% from prior quarter, and up 11% from 4Q 2024.

•Adjusted 4Q 2025 Net Income (excluding one-time item): $72.0 million;

◦$0.94 EPS, and annualized ROA of 0.81%.

•Full Year Net Income: $268.4 million, up 15% from 2024;

◦$3.53 EPS versus $3.08 in 2024.

◦0.77% ROA versus 0.66% in 2024.

◦$429.7 million PPNR, up 16% from 2024.

Net Interest Income & Margin

We continue to expand NIM; this expansion coupled with solid core loan growth, resulted in strong NII growth.

•Net Interest Margin (tax-equivalent):

◦3.06% for the quarter, up 0.06% from prior quarter and 0.22% from 4Q 2024.

◦2.95% for the full year, up 0.22% from 2024.

•Net Interest Income;

◦Increased $8.1 million from prior quarter and $19.0 million, or 8% from 4Q 2024.

◦Increased $73.3 million, or 8% from 2024.

Despite 4Q typically being a seasonally slow quarter for BankUnited, we achieved strong Non-Interest Bearing Deposits ("NIDDA") growth.

•NIDDA: up $485 million from prior quarter and $1.5 billion for the year, or 20%.

◦Represents 31% of total deposits at December 31, 2025.

•Total Deposits: Grew $735 million in Q4 and $1.5 billion for the year.

•Non-Brokered Deposits: Up $376 million in Q4 and $1.8 billion for the year.

•Average Cost of Deposits: Declined 0.20% to 2.18%; spot APY fell to 2.10% from 2.31% for the prior quarter.

•Wholesale Funding: Reduced by $166 million in Q4 and $1.7 billion for the year.

Loan Growth & Portfolio Mix

Strong production across all core businesses lines contributed to robust loan growth in the quarter.

•Total Loans: Increased $571 million in Q4;

◦Core loans (CRE, C&I and MWL): Up $769 million.

◦Residential and other loans: Down $198 million (consistent with balance sheet strategy).

•Loan-to-Deposit Ratio: Stable at 82.7%.

While non-performing loans and criticized / capitalized loans declined; net charge offs were elevated, attributable to four loans in unrelated industries and geographies.

•Criticized and Classified Loans: Declined $27 million in Q4 and $185 million from Q4 2024,

•Non-Performing Loans: Down $7 million from prior quarter, up $122 million from Q4 2024,

•NPA Ratio: 1.08%, including 0.11% related to guaranteed portion of SBA loans, down from 1.10%, including 0.11% related to SBA, in prior quarter.

•Net Charge-offs: 0.30% for full year 2025, from 0.26% from the prior quarter.

Allowance & Provision

•Provision for Credit Losses: $25.6 million for Q4; driven by increased specific reserves related to two C&I loans.

◦0.91% of total loans

◦1.30% for commercial portfolio

◦2.03% for CRE office

◦58.99% of non-performing loans

Capital & Shareholder Returns

Strong capital levels have created an ability to increase capital returns to shareholders

•CET1: 12.3%, down 20 bps from prior quarter but up 30 bps from a year ago.

•AOCI improved by $15.6 million from prior quarter and $94.9 million from a year ago.

•Tangible Common Equity Ratio: 8.5%, up from Q3 and year-end 2024.

•Tangible Book Value per Share: $40.14, representing 10% year-over-year growth.

•Share Repurchases: Approximately 1.1 million shares repurchased in Q4 for $44.8 million, at an average price of $41.08.

•The Company's Board of Directors authorized the following capital actions:

◦An increase of $0.02 per share in the Company's common stock dividend for future quarterly dividends, to $0.33 per common share, a 6% increase from the Company's previous level of $0.31 per share.

◦Authorized the repurchase of up to an additional $200 million in shares of the Company's outstanding common stock.

Loan portfolio composition at the dates indicated follows (dollars in thousands):


	December 31, 2025				September 30, 2025				December 31, 2024
Core loan segments:

Non-owner occupied commercial real estate	$	6,105,207	25.2	%	$	5,820,343	24.6	%		$	5,652,203	23.3	%
Construction and land	705,664		2.9	%	714,272		3.0	%		561,989		2.3	%
Owner occupied commercial real estate	2,020,572		8.3	%	1,943,331		8.2	%		1,941,004		8.0	%
Commercial and industrial	7,008,903		28.8	%	6,612,538		27.8	%		7,042,222		28.9	%
Mortgage warehouse lending ("MWL")	728,241		3.0	%	709,185		3.0	%		585,610		2.4	%
	16,568,587		68.2	%	15,799,669		66.6	%		15,783,028		64.9	%
Franchise and equipment finance	102,746		0.4	%	134,635		0.6	%		213,477		0.9	%
Pinnacle - municipal finance	619,374		2.6	%	637,198		2.7	%		720,661		3.0	%
Residential	6,983,000		28.8	%	7,130,992		30.1	%		7,580,814		31.2	%
	$	24,273,707	100.0	%	$	23,702,494	100.0	%		$	24,297,980	100.0	%

For the quarter ended December 31, 2025, total loans grew by $571 million. The CRE and C&I portfolio segments grew by $276 million and $474 million, respectively while MWL grew by $19 million. Consistent with our balance sheet strategy, residential loans declined by $148 million; the franchise, equipment, and municipal finance portfolios declined by an aggregate $50 million.

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 December 31, 2025, September 30, 2025 and December 31, 2024 (dollars in thousands):


	ACL		ACL to Total Loans		Commercial ACL to Commercial Loans(2)		ACL to Non-Performing Loans		Net Charge-offs to Average Loans (1)
December 31, 2025	$	219,825	0.91	%	1.30	%	58.99	%	0.30	%
September 30, 2025	$	219,884	0.93	%	1.35	%	57.95	%	0.26	%
December 31, 2024	$	223,153	0.92	%	1.37	%	89.01	%	0.16	%

(1) Annualized for the nine months ended September 30, 2025; ratios for December 31, 2025 and 2024 represent 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.

The ACL at December 31, 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 December 31, 2025, the provision for credit losses, including portions related to both funded and unfunded loan commitments, was $25.6 million, compared to $11.6 million for the immediately preceding quarter ended September 30, 2025 and $11.0 million for the quarter ended December 31, 2024. The most significant factor impacting the provision for credit losses for the quarter ended December 31, 2025 was an increase in specific reserves, primarily related to two C&I loans in unrelated industries. Net charge-offs also impacted the ACL.

The following table summarizes the activity in the ACL for the periods indicated (in thousands):


	Three Months Ended						Years Ended
	December 31, 2025		September 30, 2025		December 31, 2024		December 31, 2025		December 31, 2024
Beginning balance	$	219,884	$	222,730	$	228,249	$	223,153	$	202,689


Provision	24,843		11,851		12,267		68,351		58,986
Net charge-offs	(24,902)		(14,697)		(17,363)		(71,679)		(38,522)
Ending balance	$	219,825	$	219,884	$	223,153	$	219,825	$	223,153

Charge-offs for the quarter ended December 31, 2025 related primarily to four C&I loans. As detailed in the following table, total criticized and classified commercial loans declined by $27 million for the quarter (in thousands):


	December 31, 2025				September 30, 2025				December 31, 2024
	CRE		Total Commercial		CRE		Total Commercial		CRE		Total Commercial
Special mention	$	82,147	$	175,009	$	54,562	$	136,640	$	58,771	$	262,387
Substandard - accruing	474,592		674,368		521,284		733,615		633,614		894,754
Substandard - non-accruing	108,959		300,903		149,993		306,953		95,378		219,758
Doubtful	—		48,247		—		48,635		—		6,856
Total	$	665,698	$	1,198,527	$	725,839	$	1,225,843	$	787,763	$	1,383,755

Net interest income for the quarter ended December 31, 2025 was $258.2 million, compared to $250.1 million for the immediately preceding quarter ended September 30, 2025. Interest income decreased by $10.5 million for the quarter ended December 31, 2025 while interest expense decreased by $18.6 million. 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 0.06% to 3.06% for the quarter ended December 31, 2025, from 3.00% for the immediately preceding quarter ended September 30, 2025. Factors impacting the net interest margin for the quarter ended December 31, 2025 were:

•The average rate paid on interest bearing deposits declined to 3.15% for the quarter ended December 31, 2025, from 3.40% for the quarter ended September 30, 2025. This decline reflected actions taken to proactively reduce deposit pricing in response to a lower Federal funds rate and re-pricing of term deposits.

•The average rate paid on FHLB advances decreased to 3.84% for the quarter ended December 31, 2025 from 3.94% for the quarter ended September 30, 2025, primarily due to repayment of higher rate short-term advances.

•The average cost of interest bearing liabilities declined to 3.26% for the quarter ended December 31, 2025 from 3.52% for the prior quarter. The redemption of higher cost senior debt in the third quarter positively impacted the cost of funds.

•The tax-equivalent yield on loans declined to 5.37% for the quarter ended December 31, 2025, from 5.53% for the quarter ended September 30, 2025, reflecting the impact of declining market rates on the predominantly floating rate commercial portfolio.

•The tax-equivalent yield on investment securities decreased to 4.93% for the quarter ended December 31, 2025, from 5.13% for the quarter ended September 30, 2025. This decrease resulted primarily from the rest of coupon on variable rate securities.

Overall, the reduction in cost of interest bearing liabilities outpaced the decline in yield on interest earning assets.

Non-interest income and Non-interest expense

Non-interest income totaled $30.0 million for the quarter ended December 31, 2025, compared to $25.6 million for the immediately preceding quarter ended September 30, 2025, and $25.2 million for the quarter ended December 31, 2024. For the year ended December 31, 2025 non-interest income totaled $105.6 million compared to $99.2 million for the year ended December 31, 2024. The increase in non-interest income for the quarter and year ended December 31, 2025 was primarily a result of increases in capital markets revenue, consisting of customer derivative revenue, foreign exchange fees and syndication fees.

Non-interest expense totaled $172.8 million for the quarter ended December 31, 2025, compared to $166.2 million for the immediately preceding quarter ended September 30, 2025, and $160.5 million for the quarter ended December 31, 2024. For the year ended December 31, 2025, non-interest expense totaled $663.5 million compared to $642.0 million for the year ended December 31, 2024. Non-interest expense for the quarter and year ended December 31, 2025 included $3.8 million of write downs of previously capitalized software. Increases in employee compensation and benefits expense for the quarter and year ended December 31, 2025 compared to the comparable periods of the prior year relate to investments we are making in people to support future growth of the commercial business, regular merit increases, and increased variable compensation cost, related in part to an increase in the Company's stock price.

Earnings Conference Call and Presentation

A conference call to discuss quarterly results will be held at 9:00 a.m. ET on Wednesday, January 21, 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/10204934/1007fa66926. 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 $35.0 billion at December 31, 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 www.BankUnited.com. BankUnited can be found on Facebook at facebook.com/BankUnited.official, 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, dividend payments and stock repurchases. 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 (www.sec.gov).

James G. Mackey, 305-231-6793

Source: BankUnited, Inc.

BANKUNITED, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS - UNAUDITED

(In thousands, except share and per share data)


	December 31, 2025		September 30, 2025		December 31, 2024
ASSETS
Cash and due from banks:
Non-interest bearing	$	11,511	$	13,589	$	12,078
Interest bearing	206,273		545,916		479,038
Cash and cash equivalents	217,784		559,505		491,116
Investment securities	9,263,651		9,467,082		9,130,244
Non-marketable equity securities	140,684		165,922		206,297

Loans	24,273,707		23,702,494		24,297,980
Allowance for credit losses	(219,825)		(219,884)		(223,153)
Loans, net	24,053,882		23,482,610		24,074,827
Bank owned life insurance	305,313		303,368		284,570
Operating lease equipment, net	171,371		201,777		223,844

Goodwill	77,637		77,637		77,637
Other assets	809,129		817,872		753,207
Total assets	$	35,039,451	$	35,075,773	$	35,241,742

LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Demand deposits:
Non-interest bearing	$	9,109,984	$	8,625,115	$	7,616,182
Interest bearing	6,189,534		6,609,679		4,892,814
Savings and money market	10,164,703		9,936,797		11,055,418
Time	3,888,684		3,446,696		4,301,289
Total deposits	29,352,905		28,618,287		27,865,703

FHLB advances	1,555,000		2,080,000		2,930,000
Notes and other borrowings	319,740		320,431		708,553
Other liabilities	757,977		1,024,681		923,168
Total liabilities	31,985,622		32,043,399		32,427,424

Commitments and contingencies

Stockholders' equity:
Common stock, par value $0.01 per share, 400,000,000 shares authorized; 74,138,066, 75,242,935 and 74,748,370 shares issued and outstanding	741		752		747
Paid-in capital	271,695		310,974		301,672
Retained earnings	2,970,988		2,925,806		2,796,440
Accumulated other comprehensive loss	(189,595)		(205,158)		(284,541)
Total stockholders' equity	3,053,829		3,032,374		2,814,318
Total liabilities and stockholders' equity	$	35,039,451	$	35,075,773	$	35,241,742

BANKUNITED, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED

(In thousands, except per share data)


	Three Months Ended						Years Ended
	December 31, 2025		September 30, 2025		December 31, 2024		December 31, 2025		December 31, 2024

Interest income:
Loans	$	317,539	$	324,390	$	336,816	$	1,291,403	$	1,389,897
Investment securities	117,878		120,419		121,872		469,512		497,666
Other	6,986		8,113		9,300		31,878		37,553
Total interest income	442,403		452,922		467,988		1,792,793		1,925,116
Interest expense:
Deposits	155,875		163,555		188,853		664,335		815,572
Borrowings	28,318		39,255		39,876		140,878		195,278
Total interest expense	184,193		202,810		228,729		805,213		1,010,850
Net interest income before provision for credit losses	258,210		250,112		239,259		987,580		914,266
Provision for credit losses	25,554		11,577		11,001		67,940		55,072
Net interest income after provision for credit losses	232,656		238,535		228,258		919,640		859,194
Non-interest income:
Deposit service charges and fees	5,787		5,387		4,988		21,732		20,226


Lease financing	4,662		4,152		7,162		17,739		30,610
Capital markets	9,512		6,117		4,814		27,402		14,444
Other non-interest income	10,032		9,910		8,241		38,766		33,875
Total non-interest income	29,993		25,566		25,205		105,639		99,155
Non-interest expense:
Employee compensation and benefits	89,952		85,196		82,315		341,047		315,604
Occupancy and equipment	10,749		10,929		11,776		43,966		45,560
Deposit insurance expense	6,391		6,601		6,662		27,195		36,143

Technology	20,430		21,630		21,002		88,332		82,978
Depreciation of operating lease equipment	4,068		4,423		4,352		16,369		26,127
Other non-interest expense	41,221		37,390		34,365		146,624		135,588
Total non-interest expense	172,811		166,169		160,472		663,533		642,000
Income before income taxes	89,838		97,932		92,991		361,746		316,349
Provision for income taxes	20,578		26,081		23,689		93,393		83,882
Net income	$	69,260	$	71,851	$	69,302	$	268,353	$	232,467
Earnings per common share, basic	$	0.91	$	0.96	$	0.92	$	3.55	$	3.10
Earnings per common share, diluted	$	0.90	$	0.95	$	0.91	$	3.53	$	3.08

BANKUNITED, INC. AND SUBSIDIARIES

AVERAGE BALANCES AND YIELDS

(Dollars in thousands)


	Three Months Ended December 31,						Three Months Ended September 30,						Three Months Ended December 31,
	2025						2025						2024
	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	$	23,697,215	$	320,252	5.37	%	$	23,533,712	$	327,266	5.53	%	$	24,152,602	$	339,725	5.60	%
Investment securities (3)	9,583,958		118,573		4.93	%	9,404,188		121,124		5.13	%	9,236,863		122,648		5.31	%
Other interest earning assets	737,306		6,986		3.76	%	793,366		8,113		4.06	%	785,947		9,300		4.71	%
Total interest earning assets	34,018,479		445,811		5.21	%	33,731,266		456,503		5.38	%	34,175,412		471,673		5.50	%
Allowance for credit losses	(222,451)						(227,694)						(235,211)
Non-interest earning assets	1,389,731						1,390,051						1,405,129
Total assets	$	35,185,759					$	34,893,623					$	35,345,330
Liabilities and Stockholders' Equity:
Interest bearing liabilities:
Interest bearing demand deposits	$	6,072,259	$	48,032	3.14	%	$	5,586,547	$	47,304	3.36	%	$	5,045,860	$	46,759	3.69	%
Savings and money market deposits	10,123,959		77,378		3.03	%	9,921,293		83,862		3.35	%	10,462,295		93,912		3.57	%
Time deposits	3,449,304		30,465		3.50	%	3,535,051		32,389		3.63	%	4,529,737		48,182		4.23	%
Total interest bearing deposits	19,645,522		155,875		3.15	%	19,042,891		163,555		3.40	%	20,037,892		188,853		3.75	%

FHLB advances	2,486,250		24,065		3.84	%	3,221,577		32,027		3.94	%	3,200,652		30,750		3.82	%
Notes and other borrowings	328,322		4,253		5.18	%	542,241		7,228		5.34	%	708,689		9,126		5.15	%
Total interest bearing liabilities	22,460,094		184,193		3.26	%	22,806,709		202,810		3.52	%	23,947,233		228,729		3.80	%
Non-interest bearing demand deposits	8,708,397						8,203,439						7,557,267
Other non-interest bearing liabilities	922,581						868,385						995,789
Total liabilities	32,091,072						31,878,533						32,500,289
Stockholders' equity	3,094,687						3,015,090						2,845,041
Total liabilities and stockholders' equity	$	35,185,759					$	34,893,623					$	35,345,330
Net interest income			$	261,618					$	253,693					$	242,944
Interest rate spread					1.95	%					1.86	%					1.70	%
Net interest margin					3.06	%					3.00	%					2.84	%

(1) On a tax-equivalent basis where applicable

BANKUNITED, INC. AND SUBSIDIARIES

AVERAGE BALANCES AND YIELDS

(Dollars in thousands)


	Years Ended December 31,
	2025						2024
	Average Balance		Interest (1)		Yield/ Rate (1)			Average Balance		Interest (1)		Yield/ Rate (1)
Assets:
Interest earning assets:


Loans	$	23,765,232	$	1,302,438	5.48	%		$	24,269,787	$	1,402,132	5.78	%
Investment securities (2)	9,362,652		472,331		5.04	%		9,064,521		501,006		5.53	%
Other interest earning assets	783,417		31,878		4.07	%		745,885		37,553		5.03	%
Total interest earning assets	33,911,301		1,806,647		5.33	%		34,080,193		1,940,691		5.69	%
Allowance for credit losses	(226,362)							(224,673)
Non-interest earning assets	1,380,186							1,502,205
Total assets	$	35,065,125						$	35,357,725
Liabilities and Stockholders' Equity:
Interest bearing liabilities:
Interest bearing demand deposits	$	5,473,316	$	180,918	3.31	%		$	4,077,852	$	152,809	3.75	%
Savings and money market deposits	10,305,664		341,042		3.31	%		11,043,510		451,352		4.09	%
Time deposits	3,804,507		142,375		3.74	%		4,757,675		211,411		4.44	%
Total interest bearing deposits	19,583,487		664,335		3.39	%		19,879,037		815,572		4.10	%

FHLB advances	2,909,589		111,126		3.82	%		3,823,579		158,750		4.15	%
Notes and other borrowings	571,046		29,752		5.21	%		709,422		36,528		5.15	%
Total interest bearing liabilities	23,064,122		805,213		3.49	%		24,412,038		1,010,850		4.14	%
Non-interest bearing demand deposits	8,083,605							7,239,161
Other non-interest bearing liabilities	931,540							968,163
Total liabilities	32,079,267							32,619,362
Stockholders' equity	2,985,858							2,738,363
Total liabilities and stockholders' equity	$	35,065,125						$	35,357,725
Net interest income			$	1,001,434						$	929,841
Interest rate spread					1.84	%						1.55	%
Net interest margin					2.95	%						2.73	%

(1) On a tax-equivalent basis where applicable

BANKUNITED, INC. AND SUBSIDIARIES

EARNINGS PER COMMON SHARE

(In thousands except share and per share amounts)


	Three Months Ended						Years Ended
c	December 31, 2025		September 30, 2025		December 31, 2024		December 31, 2025		December 31, 2024
Basic earnings per common share:
Numerator:
Net income	$	69,260	$	71,851	$	69,302	$	268,353	$	232,467
Distributed and undistributed earnings allocated to participating securities	(2,311)		(1,030)		(1,598)		(5,697)		(4,113)
Income allocated to common stockholders for basic earnings per common share	$	66,949	$	70,821	$	67,704	$	262,656	$	228,354
Denominator:
Weighted average common shares outstanding	74,789,191		75,227,314		74,750,961		75,039,662		74,694,303
Less average unvested stock awards	(1,119,854)		(1,116,965)		(1,075,384)		(1,115,829)		(1,098,045)
Weighted average shares for basic earnings per common share	73,669,337		74,110,349		73,675,577		73,923,833		73,596,258
Basic earnings per common share	$	0.91	$	0.96	$	0.92	$	3.55	$	3.10
Diluted earnings per common share:
Numerator:
Income allocated to common stockholders for basic earnings per common share	$	66,949	$	70,821	$	67,704	$	262,656	$	228,354
Adjustment for earnings reallocated from participating securities	(229)		7		(198)		(648)		(402)
Income used in calculating diluted earnings per common share	$	66,720	$	70,828	$	67,506	$	262,008	$	227,952
Denominator:
Weighted average shares for basic earnings per common share	73,669,337		74,110,349		73,675,577		73,923,833		73,596,258
Dilutive effect of certain share-based awards	436,863		715,117		616,913		380,640		382,043
Weighted average shares for diluted earnings per common share	74,106,200		74,825,466		74,292,490		74,304,473		73,978,301
Diluted earnings per common share	$	0.90	$	0.95	$	0.91	$	3.53	$	3.08

BANKUNITED, INC. AND SUBSIDIARIES


	At or for the Three Months Ended									At or for the Years Ended
	December 31, 2025			September 30, 2025			December 31, 2024				December 31, 2025			December 31, 2024
Financial ratios (4)
Return on average assets	0.78		%	0.82		%	0.78		%		0.77		%	0.66		%

Return on average stockholders’ equity	8.9		%	9.5		%	9.7		%		9.0		%	8.5		%
Net interest margin (3)	3.06		%	3.00		%	2.84		%		2.95		%	2.73		%
Loans to deposits	82.7		%	82.8		%	87.2		%		82.7		%	87.2		%
Tangible book value per common share	$	40.14		$	39.27		$	36.61			$	40.14		$	36.61


	December 31, 2025		September 30, 2025		December 31, 2024

Asset quality ratios
Non-performing loans to total loans (1)(5)	1.54	%	1.60	%	1.03	%
Non-performing assets to total assets (2)(5)	1.08	%	1.10	%	0.73	%
ACL to total loans	0.91	%	0.93	%	0.92	%
Commercial ACL to commercial loans (6)	1.30	%	1.35	%	1.37	%
ACL to non-performing loans (1)(5)	58.99	%	57.95	%	89.01	%

Net charge-offs to average loans(7)	0.30	%	0.26	%	0.16	%

(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 nine month periods as applicable.

(5) Non-performing loans and assets include the guaranteed portion of non-accrual SBA loans totaling $37.9 million or 0.16% of total loans and 0.11% of total assets at December 31, 2025, $40.0 million or 0.17% of total loans and 0.11% of total assets at September 30, 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 nine months ended September 30, 2025; ratios for December 31, 2025 and December 31, 2024 represents annual net charge-off rate.


	December 31, 2025				September 30, 2025				December 31, 2024				Required to be Considered Well Capitalized
	BankUnited, Inc.		BankUnited, N.A.		BankUnited, Inc.		BankUnited, N.A.		BankUnited, Inc.		BankUnited, N.A.
Capital ratios
Tier 1 leverage	8.9	%	9.3	%	9.0	%	9.5	%	8.5	%	9.7	%	5.0	%
Common Equity Tier 1 ("CET1") risk-based capital	12.3	%	12.7	%	12.5	%	13.2	%	12.0	%	13.7	%	6.5	%


Total risk-based capital	14.1	%	13.6	%	14.4	%	14.1	%	14.1	%	14.6	%	10.0	%
Tangible Common Equity/Tangible Assets	8.5	%	N/A		8.4	%	N/A		7.8	%	N/A		N/A

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.

Adjusted net income, EPS and ROA excluding the one-time item are non-GAAP financial measures. Disclosure of these measures enhances the reader's ability to compare the Company's performance for 4Q 2025 to other periods presented.

PPNR is a non-GAAP financial measure. Management believes this measure is relevant to understanding the performance of the Company attributable to elements other than the provision for credit losses and the ability of the Company to generate earnings sufficient to cover estimated credit losses. This measure also provides a meaningful basis for comparison to other financial institutions since it is commonly employed and is a measure frequently cited by investors and analysts.

The following tables reconciles these non-GAAP financial measurement to the comparable GAAP financial measurements at the dates and for the periods indicated (in thousands except share and per share data):


	December 31, 2025		December 31, 2024
Total stockholders’ equity	$	3,053,829	$	2,814,318
Less: goodwill and other intangible assets	77,637		77,637
Tangible stockholders’ equity	$	2,976,192	$	2,736,681

Common shares issued and outstanding	74,138,066		74,748,370

Book value per common share	$	41.19	$	37.65

Tangible book value per common share	$	40.14	$	36.61


	Three Months Ended December 31, 2025
Adjusted Net Income
Net Income	$	69,260
Write down on capitalized software	3,770
Tax effect of adjustment(1)	(980)
Adjusted net income	$	72,050

Adjusted annualized ROA
Average assets	$	35,185,759
Return on average assets	0.78		%
Adjusted return on average assets	0.81		%

Adjusted diluted earnings per share
Income used in calculating diluted earnings per share	$	66,720
Write down on capitalized software	3,770
Tax effect of adjustment(1)	(980)
Adjusted income used in calculating diluted earnings per share	$	69,510

Weighted average shares for diluted earnings per common share	74,106,200
Diluted EPS	$	0.90
Adjusted diluted EPS	$	0.94


	Three Months Ended						Years Ended
	December 31, 2025		September 30, 2025		December 31, 2024		December 31, 2025		December 31, 2024
Pre-Provision Net Revenue ("PPNR")
Income before income taxes	$	89,838	$	97,932	$	92,991	$	361,746	$	316,349
Provision for credit losses	25,554		11,577		11,001		67,940		55,072
PPNR	$	115,392	$	109,509	$	103,992	$	429,686	$	371,421

(1) A tax rate of 26.00% was applied

4Q 2025 - Financial Results January 21, 2026 Exhibit 99.2

Forward-Looking Statements 2 This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the current views of BankUnited, Inc. (“BankUnited,” “BKU” or the “Company”) with respect to, among other things, future events and financial performance, dividend payments and stock repurchases. 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 presentation 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 (www.sec.gov).

Executing On and Delivering Shareholder Value 3 • Continued growth in core deposits ◦ NIDDA up $485 million, or 6%, vs prior quarter; and up $1.5 billion, or 20%, vs prior year • Core loan(2) growth momentum continues ◦ Core loans up $769 million, or 5% vs prior quarter; and up $786 million, or 5% vs prior year ◦ Total loans up $571 million or 2% vs prior quarter; and roughly flat vs prior year • As reported, Net Income of $69.3 million, or $0.90 per diluted share • Excluding one-time item(1), Adjusted Net Income of $72.0 million, or $0.94 per diluted share • PPNR of $115.4 million, up 5% from prior quarter and 11% from 4Q24 • NIM of 3.06%, up 6 bps from prior quarter and 22 bps from 4Q24 • Annualized ROA of 0.78% — excluding the one-time item(1) annualized ROA of 0.81% • Provision expense of $26 million, due to episodic charge-off activity; however, lower non-performance and criticized/ classified loan balances at quarter end Financial Performance Funding and Asset Mix • Our organic growth strategy, coupled with operational discipline, continues to deliver improved profitability • Given the continued momentum, the Board has decided on the following capital actions: ◦ Increase the quarterly dividend $0.02 to $0.33 per share ◦ Increase the share repurchase authorization by an additional $200 million - incremental to the previously announced $100 million buyback, of which ~$50 million has been repurchased to date (1) Adjusted net income, ROA, and EPS are adjusted for the impact of write downs of previously capitalized software totaling $3.8 million before taxes and represent a non-GAAP measure. See appendix for a reconciliation of non-GAAP financial measures to GAAP financial measures. (2) Core Loans include CRE, C&I and Mortgage Warehouse Lending.

Key Profitability Metrics Are Steadily Improving ($ in millions) 4 $69 $58 $69 $72 $72 $69 Net Income Adj. Net Income 4Q24 1Q25 2Q25 3Q25 4Q25 9.7% 8.2% 9.4% 9.5% 9.2% 8.9% ROE Adj. ROE 4Q24 1Q25 2Q25 3Q25 4Q25 $239 $233 $246 $250 $258 2.84% 2.81% 2.93% 3.00% 3.06%Net Interest Income NIM 4Q24 1Q25 2Q25 3Q25 4Q25 0.78% 0.68% 0.78% 0.82% 0.81% 0.78% ROA Adj. ROA 4Q24 1Q25 2Q25 3Q25 4Q25 Net Interest Income & Net Interest Margin Net Income Return on Assets(3) Return on Equity(3) $104 $95 $110 $110 $119 $115 PPNR Adj. PPNR 4Q24 1Q25 2Q25 3Q25 4Q25 Pre-Provision Net Revenue(2) $0.91 $0.78 $0.91 $0.95 $0.94 $0.90 EPS Adj. EPS 4Q24 1Q25 2Q25 3Q25 4Q25 EPS (1) Adjusted net income, ROA, ROE, and EPS are adjusted for the impact of write downs of previously capitalized software totaling $3.8 million before taxes. (2) Represents a non-GAAP measure. See appendix for a reconciliation of non-GAAP financial measures to GAAP financial measures. (3) Quarterly annualized ratios. (1)(2) (1)(2) (1)(2) (1)(2) (3)

Fourth Quarter Earnings Highlights 5 Change From ($ in millions, except per share data) 4Q24 3Q25 4Q25 4Q24 3Q25 Income Statement Net Interest Income $239 $250 $258 $19 $8 Provision for Credit Losses $11 $12 $26 $15 $14 Total Non-Interest Income $25 $26 $30 $5 $4 Total Non-Interest Expense $160 $166 $173 $13 $7 Net Income $69 $72 $69 $— ($3) EPS $0.91 $0.95 $0.90 ($0.01) ($0.05) Net Interest Margin 2.84% 3.00% 3.06% 0.22% 0.06% Balance Sheet Period-End Core Loans(1) $15,783 $15,800 $16,569 $786 $769 Period-End Loans $24,298 $23,702 $24,274 ($24) $571 Non-Interest DDA $7,616 $8,625 $9,110 $1,494 $485 Period-End Deposits $27,866 $28,618 $29,353 $1,487 $735 Capital CET1 12.0% 12.5% 12.3% 0.3% (0.2)% Total Risk-Based Capital 14.1% 14.4% 14.1% —% (0.3)% Asset Quality Non-Performing Assets to Total Assets(2) 0.73% 1.10% 1.08% 0.35% (0.02)% ACL to Total Loans 0.92% 0.93% 0.91% (0.01)% (0.02)% Commercial ACL to Commercial Loans(3) 1.37% 1.35% 1.30% (0.07)% (0.05)% (1) Core Loans include CRE, C&I and Mortgage Warehouse Lending. (2) Includes guaranteed portion of non-accrual SBA loans. (3) For purposes of this ratio, commercial loans includes the core 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.

Non-Interest Demand Deposit Balances Have Returned to COVID-Era Peak Levels and Are Well-Positioned for Continued Growth ($ in millions) $4,301 $4,424 $3,778 $3,447 $3,889 $11,056 $10,789 $10,171 $9,937 $10,165 $4,893 $4,776 $5,584 $6,609 $6,189 $7,616 $8,069 $9,113 $8,625 $9,110 $27,866 $28,058 $28,646 $28,618 $29,353 2.63% 2.52% 2.37% 2.31% 2.10% Spot APY Non-Interest Demand Interest Demand Money Market / Savings Time 4Q24 1Q25 2Q25 3Q25 4Q25 6 $27,595 $27,385 $27,677 $27,246 $28,354 $20,038 $19,972 $19,683 $19,043 $19,646 $7,557 $7,413 $7,994 $8,203 $8,708 2.72% 2.58% 2.47% 2.38% 2.18% Quarterly Cost of Deposits Avg NIDDA Avg IB Deposits 4Q24 1Q25 2Q25 3Q25 4Q25 27.3% 28.8% 31.8% 30.1% 31.0% NIDDA % Diverse deposit book by sector; largest industry verticals at December 31: National Title Solutions $4.4 billion National HOA $2.3 billion Deposit Portfolio Over Time Quarterly Avg. Deposits & Cost of Deposits Avg. NIDDA up $505 million Q-o-Q; $1.2 billion for the 12 months

Core Loan Growth While Resi and Other Loan Balances Continue to Decline ($ in millions) $7,581 $7,465 $7,304 $7,131 $6,983 $6,214 $6,206 $6,473 $6,534 $6,811 $8,982 $8,885 $8,686 $8,556 $9,030 $586 $580 $627 $709 $728 $935 $854 $844 $772 $722 $24,298 $23,990 $23,934 $23,702 $24,274 Residential CRE C&I MWL Other 4Q24 1Q25 2Q25 3Q25 4Q25 7 Loan Portfolio Over Time $23,702 $277 $474 $19 ($148) ($50) $24,274 3Q25 CRE C&I MWL Resi Other 4Q25 Fourth Quarter 2025 Loan Attribution 5.60% 5.48% 5.55% 5.53% 5.37% 4Q24 1Q25 2Q25 3Q25 4Q25 Quarterly Loan Yield

High Quality Diversified CRE Portfolio At December 31, 2025 ($ in millions) 8 $6.8 billion 48% 22% 30% FL NY Tri-State Other 21% 23% 14% 23% 7% 10% 2% Office Warehouse/Industrial Multifamily Retail Hotel Construction & Land Other 1.70 1.86 1.91 1.80 1.62 2.96 1.82 Office Industrial Multifamily Retail Hotel Other Total 64.8% 48.2% 52.2% 58.8% 46.9% 47.0% 55.3% Office Industrial Multifamily Retail Hotel Other Total 61% 47% 48% 38% 78% 49% 30% Office Industrial Multifamily Retail Hotel Other Construction and Land 20% 7% 44% 25% 10%2% 34% 19% 46% 8%37% 12% 49% 36% Other FL NY Tri- State CRE Portfolio by Property Type Wtd. Avg. DSCR by Property Type CRE Portfolio by Geography Geographic Data by Property Type Wtd. Avg. LTV by Property Type

Commercial and Industrial Loans(1) At December 31, 2025 ($ in millions) 9 16.3% 8.8% 7.8% 7.8% 7.7% 7.3% 7.2% 6.6% 5.8% 4.9% 4.2% 4.0% 3.2% 2.8% 1.7% 1.2% 1.2% 1.5% Finance and Insurance Health Care Manufacturing Wholesale Trade Utilities Educational Services Construction Transport / Warehousing R/E and Rental & Leasing Information Retail Trade Prof., Scientific, Tech. Svcs. Other Services Public Administration Arts, Entertainment, and Rec. Adm., Support and Waste Mgnt. Accom. & Food Services Other $8,556 $678 ($92) ($87) ($25) $9,030 3Q25 Production Payments/ Payoffs Strategic Exits Net Charge- Offs 4Q25 28% 27%8% 20% 17% FL NY Tri State GA, TX, NC Other NDFI Diverse Industry Exposure Geographic Distribution Fourth Quarter 2025 C&I Loan Walk $9.0 billion (1) Includes $2.0 billion in owner-occupied real estate, excludes MWL

Drivers of Change in the ACL ($ in millions) 10 $219.9 $32.1 $1.5 ($6.9) ($1.5) ($24.9) ($0.4) $219.8 3Q25 4Q25 % of Total Loans 0.93% 0.91% Increase in Specific Reserves Risk Rating Migration Change in Qualitative Overlay Portfolio Changes and Other Net Charge- Offs Economic Forecast Primarily related to two C&I loans Primarily related to four C&I loans Current market adjustment Scenario weighting Changes to forward path of forecast Portfolio composition changes New production, net of exits Changes in borrower financials Some elements related to economic uncertainty and idiosyncratic risk now being captured in quantitative modeling

Allocation of the ACL ($ in millions) 11 Office Portfolio ACL at 4Q25 was 2.03% $223.2 $219.7 $222.7 $219.9 $219.8 0.92% 0.92% 0.93% 0.93% 0.91% ACL ACL Ratio 4Q24 1Q25 2Q25 3Q25 4Q25 $17.4 $19.4 $12.7 $14.7 $24.9 0.16% 0.33% 0.27% 0.26% 0.30% Net Charge-Offs Net Charge-Off Ratio 4Q24 1Q25 2Q25 3Q25 4Q25 Allowance for Credit Losses Net Charge-Offs(1) Composition of ACL at December 31, 2025 (1) Annualized for three months for 1Q25, six months for 2Q25 and nine months 3Q25; 4Q24 and 4Q25 represent annual net charge-off rate. Balance % of Loans Commercial: Commercial real estate $58.3 0.86 % Commercial and industrial 148.6 1.65 % Franchise and equipment finance 1.0 0.93 % Total commercial 207.9 1.30 % Pinnacle - municipal finance 0.1 0.02 % Residential and mortgage warehouse lending 11.8 0.15 % Allowance for credit losses $219.8 0.91 %

Non-Performing Metrics ($ in millions) 12 1.03% 1.08% 1.57% 1.60% 1.54% 0.89% 0.94% 1.42% 1.43% 1.38% NPL Excl. Guaranteed Portion of Non-Accrual SBA Loans NPL Ratio 4Q24 1Q25 2Q25 3Q25 4Q25 NPL RatioNon-Performing Loans by Portfolio Segment $251 $260 $376 $379 $373 $24 $30 $23 $23 $23 $86 $83 $142 $136 $97 $97 $105 $167 $173 $211 $6 $6 $4 $3 $2 $34 $33 $36 $40 $38 $4 $3 $4 $4 $2 Residential CRE C&I Franchise and Equipment Guaranteed Portion of SBA Non-Guaranteed Portion of SBA 4Q24 1Q25 2Q25 3Q25 4Q25 0.73% 0.76% 1.08% 1.10% 1.08% 0.63% 0.67% 0.98% 0.99% 0.97% NPA Excl. Guaranteed Portion of Non-Accrual SBA Loans NPA Ratio 4Q24 1Q25 2Q25 3Q25 4Q25 NPA Ratio $48 $3 $16 $30 Office Industrial Multifamily - NY Rent Regulated Construction and Land - Office Non-Performing CRE Loans by Property Type At December 31, 2025 $97 million

Criticized and Classified Loans Trend ($ in millions) 13 $263 $193 $130 $137 $175 $59 $71 $89 $55 $82 $204 $122 $41 $82 $93 Commercial Real Estate Commercial 4Q24 1Q25 2Q25 3Q25 4Q25 $188 $193 $312 $312 $310 $86 $83 $142 $136 $97 $102 $110 $170 $176 $213 Commercial Real Estate Commercial 4Q24 1Q25 2Q25 3Q25 4Q25 (1) Excludes SBA. (2) Includes C&I and franchise and equipment finance Special Mention Substandard Non-Accruing and Doubtful $878 $941 $725 $715 $658 $629 $644 $515 $517 $471 $249 $297 $210 $198 $187 Commercial Real Estate Commercial 4Q24 1Q25 2Q25 3Q25 4Q25 $1,329 $1,327 $1,167 $1,164 $1,143 $774 $798 $746 $708 $650 $555 $529 $421 $456 $493 Commercial Real Estate Commercial 4Q24 1Q25 2Q25 3Q25 4Q25 Total Criticized and Classified Substandard Accruing (1) (1)(2) (1) (1)(2) (1) (1)(2) (1) (1)(2)

2025 Guidance vs Actual Results 14 Met or exceeded the majority of 2025 earning guidance metrics provided in January 2025 Metric Guidance Actual Results Net Interest Income Grow mid to high single digits 8 % Net Interest Margin 3.00% by late 2025 3.06 % Total Deposits Mid-single digits 5 % Non-Interest Deposits Low double digits 20 % Core Loans High single digits in commercial and CRE 5 % Non-Core Loans Continued decline in residential and non-core -10 % Expenses Mid-single digits 3 %

2026 Guidance 15 Metric 2025 Actual 2026 Plan Loans 5% 6% Core (10)% (8)% Resi/Other —% 2% Total Average Deposits 12% 12% NIDDA 6% 6% Total ex Brokered Revenue 8% 8% Net Interest Income 8% 9% Fourth Quarter NIM 3.06% 3.20% Non-Interest Income 7% 6% Expenses 3% 4% Credit Provision $68 $68 Capital (CET1) 12.3% 11.6% Tax Rate 26% 26% Strategic Priorities • Organic growth in our core commercial businesses, led by deposits / payment products • Continue to de-emphasize / shrink residential mortgage portfolio • Focus on business segments where our delivery model is a differentiator • Continue to build momentum in our fee businesses • Maintain robust capital levels while returning excess capital to shareholders • Invest in our organic growth capabilities – people, processes and technology, while limiting expense growth in aggregate • Continue to stay vigilant on credit Forecast Assumptions • No changes in the economic environment • Continued credit spread tightening on lending activity • Utilize the forward interest rate curve; 2 Fed funds rate cuts – maintain ~80% deposit beta • Up to $250 million of stock buybacks

Appendix

Loans to Non-Depository Financial Institutions (NDFI) 17 B2B $544 Capital Call / Subscription Lines $502 Other $433 NDFI Portfolio Distribution ($ in millions) “Other” includes REITs, B2C, Private Equity Funds, Insurance Carriers and Investment Services NDFI Portfolio Characteristics $1.5B NDFI Exposure vs $1.3B in 3Q25 6% of total loans; 9% of commercial loans Entire book is current Excludes $728 million in MWL

Allocation of the ACL 18 December 31, 2024 September 30, 2025 December 31, 2025 Balance % of Loans Balance % of Loans Balance % of Loans Commercial: Commercial real estate $70.5 1.13 % $62.3 0.95 % $58.3 0.86 % Commercial and industrial 138.0 1.54 % 142.9 1.67 % 148.6 1.65 % Franchise and equipment finance 2.3 1.12 % 1.1 0.79 % 1.0 0.93 % Total commercial 210.8 1.37 % 206.3 1.35 % 207.9 1.30 % Pinnacle - municipal finance 0.1 0.02 % 0.1 0.01 % 0.1 0.02 % Residential and mortgage warehouse lending 12.3 0.15 % 13.5 0.17 % 11.8 0.15 % Allowance for credit losses $223.2 0.92 % $219.9 0.93 % $219.8 0.91 % Office Portfolio ACL: 2.03% at December 31, 2025, 2.21% at September 30, 2025 Asset Quality Ratios December 31, 2024 September 30, 2025 December 31, 2025 Non-performing loans to total loans(1) 1.03 % 1.60 % 1.54 % Non-performing loans, excluding the guaranteed portion of non-accrual SBA loans, to total loans 0.89 % 1.43 % 1.38 % Non-performing assets to total assets(1) 0.73 % 1.10 % 1.08 % Non-performing assets, excluding the guaranteed portion of non-accrual SBA loans, to total assets 0.63 % 0.99 % 0.97 % Allowance for credit losses to non-performing loans(1) 89.01 % 57.95 % 58.99 % Net charge-offs to average loans(2) 0.16 % 0.26 % 0.30 % Net charge-offs to average loans, trailing twelve months 0.16 % 0.27 % 0.30 % (1) Non-performing loans and assets include the guaranteed portion of non-accrual SBA loans totaling $37.9 million, $40.0 million and $34.3 million at December 31, 2025, September 30, 2025 and December 31, 2024, respectively. (2) Annualized for the nine months ended September 30, 2025.

Residential Portfolio Overview 19 34% 12% 13% 27% 1% 13%30 Yr Fixed 15 & 20 Year Fixed 10/1 ARM 5/1 & 7/1 ARM Formerly Covered Govt Insured 33% 25% 39% 3% 60% or less 61% - 70% 71% - 80% More than 80% 76% 14% 10% >759 720-759 <720 or NA 32% 42% 15% 4% 3% 4% Prior 2021 2022 2023 2024 2025 High quality residential portfolio consists primarily of high FICO, low LTV, prime jumbo mortgages with de- minimis charge-offs since inception as well as government insured loans (1) Excludes government insured residential loans. FICOs are refreshed routinely. LTVs are typically at origination Residential Loan Product Type Breakdown by LTV(1) FICO Distribution(1) Breakdown by Vintage(1)

High Quality, Short-Duration Securities Portfolio 20 37% 27% 23% 9% 4% US Government and Agency Private label RMBS and CMOs Private label CMBS CLOs Other GOV 37% AAA 54% AA 5% A 3% NR 1% December 31, 2024 September 30, 2025 December 31, 2025 Portfolio Net Unrealized Loss Fair Value Net Unrealized Loss Fair Value Net Unrealized Loss Fair Value US Government and Agency ($99) $3,421 ($57) $3,453 ($51) $3,424 Private label RMBS and CMOs (253) 2,238 (207) 2,356 (193) 2,491 Private label CMBS (39) 1,784 (17) 2,260 (14) 2,168 CLOs 2 1,133 — 988 — 781 Other (17) 525 (9) 401 (9) 394 ($406) $9,101 ($290) $9,458 ($267) $9,258 Portfolio Composition Rating Distribution No expected credit losses on AFS securities Unrealized losses just 3% of amortized cost AFS portfolio duration of 1.72; approximately 68.5% of the portfolio floating rate

Non-GAAP Financial Measures 21 4Q25 ($ in millions except per share data) Net income (GAAP) $69 Write downs on capitalized software 4 Tax effect of adjustment (1) Adjusted net income $72 Average assets $35,186 ROA 0.78 % Adjusted ROA 0.81 % Average stockholders’ equity $3,095 ROE 8.9 % Adjusted ROE 9.2 % EPS (GAAP) $0.90 Write downs on capitalized software 0.04 Adjusted EPS $0.94 Net income, EPS, ROA and ROE excluding the impact of the write-off are non-GAAP financial measures. Disclosure of these measures enhances the reader’s ability to compare the Company’s performance for 4Q25 to other periods presented. PPNR is a non-GAAP financial measure. Management believes this measure is relevant to understanding the performance of the Company attributable to elements other than the provision for credit losses and the ability of the Company to generate earnings sufficient to cover estimated credit losses. This measure also provides a meaningful basis for comparison to other financial institutions since it is commonly employed and is a measure frequently cited by investors and analysts. The following tables reconciles these non-GAAP financial measurements to the comparable GAAP financial measurements of net income, EPS, ROA and ROE for 4Q25 and PPNR for the periods presented: ($ in millions) 4Q24 1Q25 2Q25 3Q25 4Q25 Income before income taxes (GAAP) $93 $80 $94 $98 $90 Plus: provision for credit losses 11 15 16 12 26 PPNR $104 $95 $110 $110 $115