BankUnited Q3 net income $61.5M ($0.81 EPS), up from $0.72 last Q; NIM expands to 2.78%

BankUnited, Inc.

2024-Q3 EPS reported $2.17 revenue$15,238,000

Net income $61.5M ($0.81 diluted EPS) vs $53.7M ($0.72) in Q2 2024 and $47.0M ($0.63) in Q3 2023.
Net interest margin (tax-equivalent) rose 6bp to 2.78%; avg cost of total deposits fell 3bp to 3.06%.
Total loans declined $230M QoQ; core CRE and C&I grew $286M YTD while residential and specialty fell.
ACL ratio increased to 0.94%; NPAs rose to 0.92% of loans (0.70% prior Q) driven by two C&I loans.
CET1 ratio 11.8% (pro-forma 10.9% incl. AOCI); tangible book value per share $36.52, up from $35.07.

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