Latest news with #RajinderSingh
Yahoo
6 days ago
- Business
- Yahoo
BankUnited Announces CFO Succession Plan
MIAMI LAKES, Fla., July 23, 2025--(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. 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. View source version on Contacts Donna Crump-Butler, (305) 231-6707dbutler@ Amy Hoffman, (954) 776-1999ahoffman@ Sign in to access your portfolio
Business Wire
6 days ago
- 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):
News18
21-07-2025
- Sport
- News18
India A Close Out European Tour With 2-8 Hammering At Hands Of The Netherlands
Last Updated: Strikes from Rajinder Singh and forward Selvam Karthi proved to be nothing more than mere consolation as the Dutch unit registered a resounding triumph. India A concluded their European tour with a 2-8 defeat at the hands of the Netherlands at Eindhoven on Monday, following the 0-3 loss the tourists had to endure last week. Strikes from Rajinder Singh and forward Selvam Karthi proved to be nothing more than mere consolation as the Dutch unit registered a resounding triumph. India A head coach Shivendra Singh expressed that, despite defeats, the experience gained from the tour would help in improving the players. 'While we might have had more losses than wins during this European Tour, it was never about the results and more about learning and experience we gained from this tour as a team," Singh said. 'We had a mix of senior and junior players as part India A, and they gained very valuable experience during the past two weeks," he continued. 'As we head back to India, I am confident that all these players will use this valuable experience and incorporate it to better their game for all their future matches," the head coach added. view comments First Published: July 21, 2025, 13:19 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
21-07-2025
- Sport
- News18
India A mens hockey team ends Europe tour with 2-8 loss to Netherlands
Eindhoven (Netherlands), Jul 21 (PTI) The India A men's hockey team ended its campaign in the Europe tour with a 2-8 loss against the Netherlands here. Young Indian midfielder Rajinder Singh and forward Selvam Karthi scored the two goals for India A in the final match on Sunday. India A had lost their previous game against the Netherlands 0-3 last week. India A began the tour on July 8 and played a total of eight matches against five European teams. The team travelled across three cities to compete against some of the top teams in the sport, including world number 1 Netherlands and world number 3 Belgium. Talking about the overall experience, India A coach Shivendra Singh said, 'While we might have had more losses than wins during this European Tour, it was never about the results and more about learning and experience we gained from this tour as a team." He added, 'We had a mix of senior and junior players as part India A, and they gained very valuable experience during the past two weeks. 'As we head back to India, I am confident that all these players will use this valuable experience and incorporate it to better their game for all their future matches." India A played against, Ireland, France, England, Belgium and the Netherlands during this exposure tour and won three of their eight matches. PTI AH APA APA Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hindustan Times
16-07-2025
- Hindustan Times
Ludhiana: Missing man's body found in Moga canal, FB post blames wife, in-laws
A week after a man from the Tibba area went missing, his body was recovered from a canal in Moga district on Tuesday. The case, which began as a missing person complaint, has now taken a serious turn after the man's social media post hinted at suicide and blamed his wife and in-laws for pushing him to the edge. The man's social media post hinted at suicide and blamed his wife and in-laws for pushing him to the edge. (HT Photo) The deceased, a 28-year-old resident of Grewal Colony, had left home on July 8 and never returned. Just after midnight, a post appeared on his Facebook account stating his intention to end his life. In the same post, he held his wife and her family responsible for his decision. His disappearance triggered a police search, and his family registered a complaint at the Tibba police station. Initially, police registered an FIR under Section 127(6) of the Bharatiya Nyaya Sanhita (wrongful confinement). However, following the recovery of the body and fresh statements by the victim's family, additional charges are likely to be added. According to assistant sub-inspector Rajinder Singh, the investigating officer, the man's photo had been shared across police stations in the region. On Tuesday, the Moga police informed Ludhiana police that a body had been recovered from a local canal, later confirmed to be that of the missing man. The body has been sent for autopsy. Police investigations reveal that the deceased was married six months ago in what was a second marriage for both partners. Despite setting up a salon for his wife at their residence, she often chose to stay at her parental home, which reportedly led to marital tensions. According to the family, these issues escalated shortly before his disappearance. The ASI said that they will now record the family's statements in detail before amending the FIR to include relevant sections based on the latest findings. Husband, mother-in-law booked after 35-year-old woman ends life The Tibba Police booked a man and his mother for abetment to suicide after his wife ended her life by jumping off from the first floor of the house in Gautam Colony, Rahon Road. The FIR has been lodged following the statement of father of the victim, 35. The complainant stated that the accused used to harass his daughter for dowry. The complainant added that he solemnized the marriage of his daughter 13 years ago to the accused. Soon after the marriage the accused started harassing his daughter for dowry. He used to fulfil the demands of the accused. She had two sons and one daughter from the marriage. Further the complainant added that giving up before the demand of dowry his daughter jumped off from the first floor of the house on Sunday evening. She was rushed to Christian Medical College and Hospital, where she succumbed to the injuries on Monday. ASI Ravinder Kumar, who is investigating the case, stated that an FIR under sections 108 and 61 (2) of BNS has been lodged against the accused. A hunt is on for their arrest.
