Financial Performance - For Q4 2024, BankUnited reported net income of $69.3 million, or $0.91 per diluted share, up from $61.5 million, or $0.81 per diluted share in Q3 2024, and $20.8 million, or $0.27 per diluted share in Q4 2023[3]. - For the year ended December 31, 2024, net income was $232.5 million, or $3.08 per diluted share, compared to $178.7 million, or $2.38 per diluted share in 2023[3]. - Net income for the three months ended December 31, 2024, was $69,302 thousand, an increase of 12.0% from $61,452 thousand in the previous quarter[25]. - Basic earnings per common share increased to $3.10 in 2024 from $2.39 in 2023, with net income rising to $232.47 million from $178.67 million[34]. Interest Income and Margin - Net interest income for the quarter ended December 31, 2024, was $239.3 million, an increase of 2.5% from $234.1 million in the previous quarter and up 10.2% from $217.2 million in the same quarter last year[11]. - The net interest margin improved to 2.84% in Q4 2024, up from 2.78% in Q3 2024 and 2.60% in Q4 2023[5]. - The average rate paid on interest-bearing deposits declined to 3.75% for the quarter ended December 31, 2024, down from 4.20% in the previous quarter[17]. - Total interest income for the three months ended December 31, 2024, was $467,988 thousand, a decrease of 4.9% from $492,356 thousand in the previous quarter[25]. - Interest rate spread for the three months ended December 31, 2024, was 1.70%, compared to 1.55% in the previous quarter, indicating improved profitability on interest-earning assets[28]. - Net interest margin for the three months ended December 31, 2024, was 2.84%, up from 2.78% in the previous quarter, suggesting better efficiency in generating income from assets[28]. Loan and Deposit Trends - Total loans declined by $101 million in Q4 2024, with core commercial real estate (CRE) and commercial & industrial (C&I) segments growing by $185 million[5]. - Average non-interest bearing demand deposits (NIDDA) grew by $173 million in Q4 2024 compared to Q3 2024 and by $648 million compared to Q4 2023[5]. - Total deposits grew by $1.3 billion for the year ended December 31, 2024, with non-brokered deposits increasing by $1.4 billion[5]. - The loan to deposit ratio decreased to 87.2% at December 31, 2024, down from 87.6% at September 30, 2024[6]. - The company reported a loans to deposits ratio of 87.2% in 2024, consistent with the previous year, indicating stable lending practices[36]. Asset Quality and Credit Losses - The allowance for credit losses (ACL) to total loans ratio was 0.92% at December 31, 2024, with net charge-offs for the year at 0.16%[6][9]. - Non-performing loans totaled $250.7 million, representing 1.03% of total loans at December 31, 2024, up from $224.5 million or 0.92% at September 30, 2024[10]. - The provision for credit losses was $12.3 million for the quarter ended December 31, 2024, compared to $9.1 million in the previous quarter[10]. - Provision for credit losses decreased to $11,001 thousand for the three months ended December 31, 2024, down from $19,253 thousand in the same period last year, indicating improved credit quality[25]. - Criticized and classified commercial loans declined by $75.1 million for the quarter ended December 31, 2024[10]. Capital and Equity - The capital position remained strong, with a common equity tier 1 (CET1) ratio of 12.0% at December 31, 2024[6]. - Book value per common share increased to $37.65 at December 31, 2024, compared to $34.66 at December 31, 2023[6]. - Total stockholders' equity increased to $2,814,318,000 as of December 31, 2024, compared to $2,577,921,000 on December 31, 2023, reflecting a growth of approximately 9.2%[41]. - Tangible stockholders' equity reached $2,736,681,000 as of December 31, 2024, up from $2,500,284,000 a year earlier, indicating a year-over-year increase of about 9.5%[41]. - The tangible book value per common share increased to $36.61 in 2024 from $33.62 in 2023, reflecting growth in shareholder value[36]. Future Outlook - The company plans to hold a conference call on January 22, 2025, to discuss quarterly results[16].

Core Viewpoint - BankUnited, Inc. (BKU) is expected to report quarterly earnings of $0.71 per share, a decline of 1.4% year-over-year, with revenues projected at $259.7 million, reflecting a 10.8% increase compared to the previous year [1] Earnings Estimates - There has been no revision in the consensus EPS estimate for the quarter over the last 30 days, indicating stability in analysts' forecasts [2] - Revisions to earnings estimates are crucial as they serve as indicators for predicting investor actions regarding the stock [3] Key Financial Metrics - Analysts project 'Average Interest-Earning Assets' to reach $34.41 billion, up from $34.07 billion year-over-year [5] - 'Total non-performing assets' are expected to be $228.82 million, significantly higher than the previous year's $130.58 million [5] - 'Total non-performing loans' are estimated at $225.96 million, compared to $127.04 million in the same quarter last year [6] - 'Net interest income before provision for credit losses' is projected at $237.17 million, up from $217.21 million year-over-year [6] - 'Total Non-Interest Income' is expected to reach $22.54 million, compared to $17.09 million last year [7] - 'Other non-interest income' is projected at $11.91 million, an increase from $7.37 million year-over-year [7] - 'Lease financing' is expected to be $5.41 million, up from $3.72 million in the same quarter last year [8] - 'Net Interest Income (FTE basis)' is projected at $239.39 million, compared to $221.44 million in the same quarter last year [8] - 'Deposit service charges and fees' are expected to be $5.13 million, slightly down from $5.39 million year-over-year [9] Market Performance - BankUnited shares have returned +5.2% over the past month, outperforming the Zacks S&P 500 composite, which declined by -2.1% [10] - The company holds a Zacks Rank 3 (Hold), indicating it is expected to mirror overall market performance in the near future [10]

Core Viewpoint - BankUnited, Inc. reported strong Q3 earnings, surpassing expectations, but faces challenges with declining non-interest income and rising expenses [2][4][7]. Financial Performance - Q3 2024 earnings per share were 81 cents, exceeding the Zacks Consensus Estimate of 73 cents and up from 63 cents in the prior year [2]. - Net income reached $61.5 million, a 30.8% increase year over year, compared to an estimate of $54.4 million [3]. - Quarterly net revenues were $257 million, a 6% increase year over year, but fell short of the Zacks Consensus Estimate of $258.7 million [4]. Key Revenue Components - Net Interest Income (NII) was $234.1 million, growing 9% year over year, slightly above the expected $230.9 million [5]. - Net Interest Margin (NIM) expanded by 22 basis points to 2.78% [6]. - Non-interest income decreased by 17.4% to $22.9 million, attributed to a decline in lease financing [6]. Expense Analysis - Non-interest expenses rose 11.9% to $164.6 million, exceeding the estimate of $161.3 million [7]. - Total loans decreased by 1% to $24.4 billion, while total deposits increased marginally to $27.9 billion [7]. Credit Quality - Provisions for credit losses were $9.2 million, down 72% year over year, significantly lower than the expected $17.6 million [8]. - The ratio of net charge-offs to average loans was 0.12%, up 5 basis points year over year, and the non-performing assets ratio increased to 0.64%, up 24 basis points [8]. Capital and Profitability - Common Equity Tier 1 risk-based capital ratio improved to 11.8%, up from 11.4% [9]. - Return on average assets rose to 0.69%, compared to 0.52% in the previous year, and return on average stockholders' equity increased to 8.8% from 7.2% [9]. Future Outlook - Management anticipates a mid-single-digit increase in NII for 2024 and expects loan growth in the mid-single digits [11][12]. - Non-interest expenses are projected to grow in the upper mid-single digits for 2024, excluding a special assessment charge [13]. - The effective tax rate is expected to be 26.5% for 2024, excluding discrete items [14]. Market Position - Estimates for BankUnited have trended downward recently, with a consensus estimate shift of -8.06% [15][16]. - The stock currently holds a Zacks Rank 3 (Hold), indicating an expectation of in-line returns in the coming months [18].

Financial Performance - Net income for Q3 2024 was $61.5 million, or $0.81 per diluted share, compared to $47.0 million, or $0.63 per diluted share in Q3 2023, reflecting a 30.6% increase in net income year-over-year [126]. - For the nine months ended September 30, 2024, net income was $163.2 million, or $2.17 per diluted share, compared to $157.9 million, or $2.11 per diluted share for the same period in 2023, indicating a 3.3% increase [126]. - Net interest income for the three months ended September 30, 2024, was $238.0 million, an increase of $8.0 million from $230.0 million for the three months ended June 30, 2024 [153]. - Net interest income for the three months ended September 30, 2024 was $238.0 million, an increase of $18.9 million compared to $219.1 million for the same period in 2023 [154]. Interest Margin and Deposits - The net interest margin expanded by 0.06% to 2.78% for Q3 2024 from 2.72% in Q2 2024, and improved from 2.56% in Q3 2023 [129]. - The average cost of total deposits declined by 0.03% to 3.06% for Q3 2024, down from 3.09% in Q2 2024 [130]. - Total deposits grew by $1.3 billion during the nine months ended September 30, 2024, with non-brokered deposits increasing by $1.7 billion [175]. Loan Portfolio - Total loans decreased by $230 million for Q3 2024, with commercial real estate loans growing by $34 million, while residential loans declined by $422 million [135]. - As of September 30, 2024, the total loan portfolio amounted to $24.4 billion, a slight decrease from $24.6 billion on December 31, 2023 [191]. - The commercial loan segment represented 68.1% of total loans, increasing from 66.7% in the previous period, with a total of $16.6 billion [191]. - The residential loan segment decreased to $7.8 billion, representing 31.9% of total loans, down from 33.3% [191]. Credit Quality and Losses - Net charge-offs for Q3 2024 were $6.5 million, with an annualized net charge-off ratio of 0.12% for the nine months ended September 30, 2024 [137]. - The ratio of the allowance for credit losses (ACL) to total loans increased to 0.94% at September 30, 2024, with the ACL to non-performing loans ratio at 101.68% [138]. - Total non-performing loans increased to $224,484 thousand as of September 30, 2024, up from $173,455 thousand in June 30, 2024, and $127,044 thousand in December 31, 2023, representing a growth of 29.4% and 76.7% respectively [239]. - The allowance for credit losses (ACL) to total loans ratio was 0.94% as of September 30, 2024, slightly up from 0.92% in June 30, 2024, and 0.82% in December 31, 2023 [239]. Liquidity and Capital - Total same day available liquidity was $15.0 billion, with an available liquidity to uninsured, uncollateralized deposits ratio of 147% at September 30, 2024 [140]. - The Tier 1 leverage ratio for BankUnited, Inc. is 8.31% as of September 30, 2024, exceeding the required 4.00% [283]. - Total risk-based capital for BankUnited, Inc. stands at $3,502,509, with a ratio of 13.93%, well above the required 10.00% [283]. - The estimated amount of uninsured deposits at September 30, 2024, was $13.59 billion, an increase from $12.4 billion at December 31, 2023 [266]. Investment Securities - As of September 30, 2024, the investment securities portfolio had a net unrealized loss of $338.0 million, an improvement of $196.8 million from a loss of $534.8 million at December 31, 2023 [179]. - The total amortized cost of investment securities was $9.43 billion, with a carrying value of $9.09 billion as of September 30, 2024, compared to an amortized cost of $9.38 billion and a carrying value of $8.84 billion at December 31, 2023 [178]. - The estimated effective duration of the investment portfolio was 1.74 years, and the estimated weighted average life was 5.4 years as of September 30, 2024 [178]. Employee Compensation - Employee compensation and benefits increased to $81.781 million for the three months ended September 30, 2024, up from $68.825 million for the same period in 2023 [171].

BankUnited, Inc.’s (BKU) third-quarter 2024 earnings of 81 cents per share surpassed the Zacks Consensus Estimate of 73 cents. The bottom line compares favorably with 63 cents in the prior-year quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Results were aided by growth in net interest income (NII), lower provisions and a slight improvement in deposit balance. However, lower non-interest income, a fall in loan balance and a jump in expenses were the undermining factors.Net i ...

Financial Data and Key Metrics Changes - Net income for Q3 2024 was $61.5 million, or $0.81 per share, compared to $0.72 in the previous quarter and $0.63 a year ago, exceeding consensus estimates of $0.74 [4][31] - Net interest margin (NIM) increased to 2.78% from 2.72% in the previous quarter, marking a 9% increase year-over-year [4][31] - Cost of deposits declined to 3.06% from 3.09% in the previous quarter, while the cost of interest-bearing deposits decreased from 4.26% to 4.20% [5][31] - Average tangible common equity to total assets (TCE/TA) rose to 7.6%, and tangible book value increased to $36.52 [10] Business Line Data and Key Metrics Changes - Total loans decreased by $230 million, with notable declines in residential and franchise leasing, while commercial real estate (CRE) grew by $34 million [21] - Year-to-date, C&I and CRE portfolios increased by a combined $286 million, while residential loans decreased by $422 million [21] - Average non-interest-bearing deposits (NIDDA) were down $64 million, but margins still increased by 6 basis points [8][31] Market Data and Key Metrics Changes - The commercial portfolio was 68% floating, and the securities portfolio was 70% floating, indicating a sensitivity to interest rate changes [32] - The weighted average loan-to-value (LTV) of the CRE portfolio was 55%, with a debt service coverage ratio of 1.77 [27] Company Strategy and Development Direction - The company is focused on balance sheet transformation to improve profitability, with a goal to increase NIDDA above 30% and achieve ROA over 1% and ROE in the 10-12% range [62] - The strategy includes being proactive in managing deposit costs and maintaining a disciplined approach to loan growth [5][19] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the fourth quarter, expecting strong production numbers in C&I and CRE, despite a higher level of payoffs in Q3 [25][59] - The company anticipates NIDDA to be flat in Q4 but expects growth in the first half of next year [40][45] Other Important Information - The company has made significant hires to strengthen its team, including a new leader for the small business and commercial segment [10] - There were no significant impacts from recent hurricanes on the loan portfolio or physical premises [11][12] Q&A Session All Questions and Answers Question: Guidance on margin and non-interest-bearing deposits - Management indicated that margin is expected to be roughly flat next quarter, with non-interest-bearing deposits likely to be slightly down due to seasonality [42][50] Question: Capital deployment and buyback plans - The company is in discussions regarding capital planning and may consider share buybacks if growth does not materialize as expected [48][49] Question: Credit quality and office segment expectations - Management confirmed that past due loans in the CRE segment were primarily administrative issues and expect upgrades once lease concessions expire [50][51]

BankUnited Go for more™ Q3 2024 – Supplemental Information October 22, 2024 1 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the current views of BankUnited, Inc. ("BankUnited," "BKU" or the "Company") with respect to, among other things, future events and financial performance. The Company generally identifies forward-looking statements by terminology such as "outlook," "believes," "exp ...

BankUnited, Inc. (BKU) reported $257.02 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 6%. EPS of $0.81 for the same period compares to $0.63 a year ago.The reported revenue represents a surprise of -0.63% over the Zacks Consensus Estimate of $258.65 million. With the consensus EPS estimate being $0.73, the EPS surprise was +10.96%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to d ...

BankUnited, Inc. (BKU) came out with quarterly earnings of $0.81 per share, beating the Zacks Consensus Estimate of $0.73 per share. This compares to earnings of $0.63 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 10.96%. A quarter ago, it was expected that this company would post earnings of $0.65 per share when it actually produced earnings of $0.72, delivering a surprise of 10.77%.Over the last four quarters, the company ...

Exhibit 99.1 BANKUNITED, INC. REPORTS THIRD QUARTER 2024 RESULTS Miami Lakes, Fla. — October 22, 2024 — BankUnited, Inc. (the "Company") (NYSE: BKU) today announced financial results for the quarter ended September 30, 2024. "We're happy with third quarter results as our balance sheet transformation story continues. Margin expanded again this quarter and credit remains well managed. Looking forward, we are optimistic about the environment, our markets and opportunities to grow core customer relationships. O ...