BankUnited Q4 2024 EPS $0.91 vs $0.81 Q3; net margin expands to 2.84%

BankUnited, Inc.

2024-FY EPS reported $3.08 revenue$20,226,000

Net income $69.3M ($0.91 diluted EPS) compared to $61.5M ($0.81) in Q3 2024 and $20.8M ($0.27) in Q4 2023.
Net interest margin (tax-equivalent) improved to 2.84% from 2.78% QoQ; average cost of deposits fell 34 bps to 2.72%.
Total deposits flat QoQ; wholesale funding down $346M QoQ and $2.3B YoY; NIDDA grew $173M QoQ.
Criticized/classified commercial loans declined $75.1M QoQ; NPLs up $26.2M due to one CRE office loan; net charge-off ratio 0.16% for FY 2024.
CET1 ratio 12.0%, tangible book value $36.61 per share; loan to deposit ratio 87.2%.

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