secwatch.observer — SEC 8-K summary
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Issuer:     BankUnited, Inc. (BKU)
CIK:        0001504008
Form:       8-K
Filed at:   2024-07-18T23:59:59+00:00
Accession:  0001504008-24-000019
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BankUnited Q2 net income $53.7M ($0.72 EPS); NIM expands to 2.72% but NPAs rise on office exposure
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- EPS $0.72 (diluted) vs $0.64 prior quarter and $0.78 year-ago; net income $53.7M.
- Net interest margin (tax-equiv) expanded 15bps to 2.72%; average cost of deposits declined 9bps to 3.09%.
- Non-interest bearing deposits grew $826M; total deposits up $736M; wholesale funding down $1.2B.
- Core C&I and CRE loans grew $589M; residential loans declined $212M; total loans up $402M.
- NPAs increased to $176M ($50M office exposure) from $118.9M; ACL ratio 0.92%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1504008/000150400824000019/0001504008-24-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1504008/000150400824000019/bku-20240718.htm
  HTML page:      https://secwatch.observer/filing/0001504008-24-000019

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