BankUnited (BKU) investor relations material

Executive summary

• Net income was $72.2 million, or $1.01 diluted EPS; adjusted net income was $73.9 million, or $1.03 EPS, excluding securities-sale effects.

• NIM rose 10 bps QoQ and 16 bps YoY to 3.16%, supported by lower funding costs and balance-sheet repositioning.

• Credit trends improved YoY, though non-performing loans rose $40 million QoQ; average core loans grew 4% YoY and declined 1% QoQ.

Financial highlights

• Net interest income was $260.7 million, up $5.3 million QoQ and $10.5 million YoY; nine-month NII was $765.0 million versus $729.4 million.

• Provision for credit losses was $9.0 million, down $2.6 million, or 23%, YoY; non-interest income was $19.8 million and non-interest expense was $174.6 million.

• PPNR was $105.9 million; adjusted PPNR was $108.2 million, excluding software write-downs and securities-sale effects.

• Nine-month net income was $204.7 million versus $199.1 million; diluted EPS was $2.80 versus $2.63.

Outlook and guidance

• Q4 guidance: ending core loans of $17.6–$17.7 billion, average NIDDA of ~$8.65 billion, NII of ~$265 million and NIM of ~3.20%.

• Q4 guidance also includes non-interest income of ~$28 million, non-interest expense of ~$178 million, PPNR of ~$115 million, provision of ~$15 million and a 25.5% tax rate.

• Assumptions include continued economic strength, a 25-bp rate increase in December 2026 and use of remaining buyback capacity by year-end.

• Balance-sheet repositioning remains focused on funding profile and asset mix; non-core residential and franchise/equipment finance balances are expected to decline.