BankUnited Q1 Profit Rises - Quick Facts

(RTTNews) - BankUnited, Inc. (BKU) reported first-quarter net income of $55.3 million, or $0.53 per share, up from $48.2 million or $0.47 per share in the prior year quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.45 per share for the quarter. Analysts' estimates typically exclude special items.

Net interest income before provision for loan losses for the quarter increased to $166.5 million from $153.8 million last year. Non-interest income totaled $30.2 million for the quarter compared to $20.1 million in the previous year.

Loans, net of premiums, discounts and deferred fees and costs, increased to $10.0 billion at March 31, 2014 from $9.1 billion at December 31, 2013. New loans grew by $1.1 billion to $8.6 billion at March 31, 2014. Covered loans declined to $1.3 billion at March 31, 2014 from $1.5 billion at December 31, 2013.