BankUnited Q3 net income $47M ($0.63 EPS), down 46% YoY; margin expands to 2.56%

BankUnited, Inc.

2023-Q3 EPS reported $2.11 revenue$16,296,000

Net income $47.0M ($0.63 diluted EPS) vs $87.9M ($1.12) in Q3 2022; provision for credit losses rose to $33.0M.
Net interest margin expanded to 2.56% from 2.47% QoQ; net interest income $214.8M vs $213.9M prior quarter.
Non-brokered deposits grew $484M, total deposits up $274M; FHLB advances reduced by $810M.
CRE loans at 23.5% of loans (168% of risk-based capital); weighted avg LTV 55.8%, DSCR 1.80.
CET1 ratio 11.4% (holding co) and 13.2% (bank); ACL to loans ratio 0.80% vs 0.68% prior quarter.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BankUnited, Inc. reported the quarter ended September 30, 2023 results: net income $47.0 million, EPS $0.63 per diluted share.

Period: the quarter ended September 30, 2023
Net income: $47.0 million
EPS: $0.63 per diluted share
Result: reported results

Exact text from the filing

On October 19, 2023, BankUnited, Inc. (the “Company”) reported its results for the quarter ended September 30, 2023.

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Source: SEC EDGAR

accession 0001504008-23-000032

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