BankUnited Q3 net income $86.9M ($0.94 EPS); announces $150M share repurchase authorization

BankUnited, Inc.

2021-Q3 EPS reported $3.12 revenue$15,870,000

Net income $86.9M ($0.94 diluted EPS), down from $104.0M ($1.11) in Q2 2021 but up from $66.6M ($0.70) in Q3 2020.
Net interest margin (tax-equivalent) 2.33%, down 4bps QoQ; net interest income $195.1M vs $198.3M Q2.
Recorded recovery of credit losses of $11.8M vs $27.5M recovery in Q2; ACL ratio 0.70% vs 0.77% Q2.
Residential loans grew $751M to $7.83B; commercial loan segments declined; total loans (ex-PPP) up $74M.
Board authorized new $150M share repurchase program; Q3 repurchases 3.2M shares for $129.4M at avg $40.62.

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