BankUnited expands into Charlotte with trio of banking executives

MIAMI LAKES - BankUnited Inc. (NYSE:BKU), a $2.85 billion market cap financial institution with an impressive 11.13% revenue growth in the last twelve months, announced its entry into the Charlotte, North Carolina market with the appointment of three corporate banking and commercial real estate executives.

The expansion adds Charlotte to BankUnited’s growing southeastern presence, which already includes operations in Atlanta, Dallas, and Morristown, New Jersey, according to a company press release.

Robert Hoak joins as senior vice president and corporate banking producing team leader, while R. Bryan Moore, who has been with the bank since 2023, will lead commercial real estate business from Charlotte while continuing to serve clients throughout the southeast. Brand Hosford has been appointed as vice president and senior credit products officer.

Thomas M. Cornish, BankUnited Chief Operating Officer, cited North Carolina’s status as the top-ranked state for business in 2025 as a factor in the expansion decision.

Hoak brings 17 years of commercial banking experience, most recently serving as senior vice president at Woodforest National Bank. Moore has managed over $2 billion in commercial real estate loans during his 15-year career. Hosford joins with 24 years of experience, previously working as senior portfolio manager at Woodforest National Bank.

BankUnited reported total assets of $34.8 billion as of March 31, 2025. The bank provides consumer and commercial banking services through locations in Florida, New York, Dallas, Atlanta, Morristown, and now Charlotte. Trading at a P/E ratio of 11.69 and offering a 3.35% dividend yield, InvestingPro analysis suggests the stock is currently fairly valued. Investors anticipating the company’s upcoming earnings report on July 23 can access comprehensive analysis and additional insights through InvestingPro’s detailed Research Report, part of its coverage of over 1,400 US stocks.

In other recent news, BankUnited reported its first-quarter 2025 earnings, surpassing analyst expectations with an earnings per share (EPS) of $0.78, compared to a forecast of $0.74. However, the company’s revenue fell short of projections, recording $255.41 million against the expected $264.35 million. In response, RBC Capital Markets adjusted its outlook on BankUnited shares, reducing the price target from $42.00 to $40.00, while maintaining a Sector Perform rating. RBC Capital noted that the bank’s management remains confident in its guidance for 2025, anticipating solid core commercial loan growth and positive funding remix changes to drive margin expansion.

Goldman Sachs maintained a Sell rating on BankUnited shares with a price target of $38.00, citing a mixed quarter due to a miss in net interest income and margin. Jefferies began coverage with a Hold rating and a $39.00 price target, highlighting the bank’s efforts in growing non-interest-bearing deposits and potential for net interest margin expansion. Citi also raised its price target for BankUnited to $38.00 from $36.00, maintaining a Neutral rating, and noted stronger net interest margin trend projections.

These developments come as BankUnited continues to focus on optimizing its balance sheet and reducing reliance on wholesale funding, despite challenges posed by a decline in net interest income and margin. The bank’s strategic initiatives and analyst evaluations will be key factors for investors to watch in the coming quarters.

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