secwatch.observer — SEC 8-K summary
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Issuer:     BankUnited, Inc. (BKU)
CIK:        0001504008
Form:       8-K
Filed at:   2024-01-26T23:59:59+00:00
Accession:  0001504008-24-000003
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BankUnited Q4 net income $20.8M ($0.27 EPS), down 68% YoY; FDIC special assessment weighs
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- Q4 net income $20.8M ($0.27 EPS) vs $47.0M ($0.63) in Q3 and $64.2M ($0.82) in Q4 2022.
- Full-year 2023 net income $178.7M ($2.38 EPS) vs $285.0M ($3.54 EPS) in 2022.
- Pre-tax income hit by $41.8M notable items: $35.4M FDIC special assessment and $6.5M loss on sale of equipment.
- Net interest margin (tax-equivalent) expanded to 2.60% from 2.56% QoQ; non-brokered deposits grew $604M.
- Allowance for credit losses increased to 0.82% of loans; NPAs declined to $127M (0.52% of loans).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1504008/000150400824000003/0001504008-24-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1504008/000150400824000003/bku-20240126.htm
  HTML page:      https://secwatch.observer/filing/0001504008-24-000003

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