BankUnited(US:BKU)2025-01-22 14:11Financial Performance Highlights - Net interest income increased by 10% year-over-year, reaching $239 million in Q4 2024[7] - Net income significantly increased to $69 million in Q4 2024, compared to $21 million in Q4 2023[7] - Earnings per share (EPS) rose to $0.91 in Q4 2024, up from $0.27 in Q4 2023[7] - Net Interest Margin (NIM) improved to 2.84% in Q4 2024, a 0.06% increase from 2.78% in Q3 2024[6, 8] Deposit and Funding Trends - Non-interest DDA (Demand Deposit Accounts) grew by 11% year-over-year, reaching $7.616 billion[6, 7] - Non-interest DDA accounted for 27% of total deposits[7] - Non-brokered deposits increased by $1.4 billion for the year ended December 31, 2024[6] - Wholesale funding decreased by $2.3 billion for the year ended December 31, 2024[6] Loan Portfolio and Asset Quality - Core C&I (Commercial & Industrial) and CRE (Commercial Real Estate) loans grew by $470 million for the year ended December 31, 2024[6] - The company strategically reduced lower-yielding and non-core assets by $959 million[6] - The allowance for credit losses to total loans stood at 0.92%[6, 8] - Net charge-off rate for the year was 0.16%[6, 8]