BankUnited, Inc. Reports Third Quarter 2025 Results

MIAMI LAKES, Fla.--(BUSINESS WIRE)--Oct. 22, 2025-- BankUnited, Inc. (the “Company”) (NYSE: BKU) today announced financial results for the quarter ended September 30, 2025. "We continued to deliver on improved profitability this quarter, with gains in EPS, ROA and ROE. We achieved our near-term target of a 3% margin as well." said Rajinder Singh, Chairman, President and Chief Executive Officer. For the quarter ended September 30, 2025, the Company reported net income of $71.9 million, or $0.95 per diluted share, for an annualized return on average assets of 0.82%. For the immediately preceding quarter ended June 30, 2025, net income was $68.8 million, or $0.91 per diluted share and for the quarter ended September 30, 2024, net income was $61.5 million, or $0.81 per diluted share. For the nine months ended September 30, 2025, net income was $199.1 million, or $2.63 per diluted share compared to $163.2 million, or $2.17 per diluted share for the nine months ended September 30, 2024, an increase of 21% in diluted earnings per share. Quarterly Highlights The net interest margin, calculated on a tax-equivalent basis, expanded by 0.07% to 3.00% for the quarter ended September 30, 2025 from 2.93% for the immediately preceding quarter. Net interest income grew by $4.0 million compared to the prior quarter and by $16.0 million or 7% compared to the comparable quarter of the prior year. As expected, non-interest bearing demand deposits ("NIDDA") declined by $488 million for the quarter, in part due to expected seasonality in the title solutions vertical, and represented 30% of total deposits at September 30, 2025. NIDDA was up $990 million compared to September 30, 2024, one year ago. Average NIDDA grew by $210 million for the quarter ended September 30, 2025 compared to the immediately preceding quarter and by $741 million for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. Total deposits was essentially flat quarter-over-quarter, declining by $28 million. Non-brokered deposits grew by $1.2 billion compared to one year ago but, as expected, declined by $439 million for the quarter ended September 30, 2025 largely due to normal seasonality in the title solutions and government banking verticals. The average cost of total deposits declined by 0.09% to 2.38% for the quarter ended September 30, 2025 from 2.47% for the immediately preceding quarter ended June 30, 2025. The spot APY of total deposits declined by 0.06% to 2.31% at September 30, 2025 from 2.37% at June 30, 2025. The spot APY of total deposits was 2.93% at September 30, 2024, one year ago. For the quarter ended September 30, 2025, total loans declined by $231 million. In the aggregate, consistent with our balance sheet strategy, the residential, franchise, equipment and municipal finance portfolios declined by $245 million while the core commercial portfolio segments and mortgage warehouse grew by a combined $14 million. The loan to deposit ratio was 82.8% at September 30, 2025, compared to 83.6% at June 30, 2025. Total criticized and classified loans declined by $3 million for the quarter ended September 30, 2025 while total non-accrual loans increased by $3 million. The annualized net charge-off ratio for the nine months ended September 30, 2025 was 0.26%; the net charge-off ratio for the trailing twelve months was 0.27%. The NPA ratio at September 30, 2025 was 1.10%, including 0.11% related to the guaranteed portion of non-accrual SBA loans, compared to 1.08%, including 0.10% related to the guaranteed portion of non-accrual SBA loans, at June 30, 2025. The ratio of the ACL to total loans was 0.93% at September 30, 2025, consistent with the prior quarter-end. The ratio of the ACL to non-performing loans was 57.95%. The ACL to loans ratio for commercial portfolio sub-segments including C&I, CRE, franchise finance and equipment finance was 1.35% at September 30, 2025 and the ACL to loans ratio for CRE office loans was 2.21%. The provision for credit losses was $11.6 million for the quarter ended September 30, 2025 compared to $15.7 million for the preceding quarter. At September 30, 2025, the weighted average LTV of the CRE portfolio was 54.6%, the weighted average DSCR was 1.77, 49% of the portfolio was collateralized by properties located in Florida and 22% was collateralized by properties located in the New York tri-state area. For the office sub-segment, the weighted average LTV was 65.0%, the weighted average DSCR was 1.57, 61% was collateralized by properties in Florida and was predominantly suburban; 18% was collateralized by properties located in the New York tri-state area. Our capital position is robust. At September 30, 2025, CET1 was 12.5% at a consolidated level. Pro-forma CET1 including accumulated other comprehensive income was 11.7% at September 30, 2025. The ratio of tangible common equity to tangible assets increased to 8.4% at September 30, 2025. Book value and tangible book value per common share continued to accrete, to $40.30 and $39.27, respectively, at September 30, 2025 compared to $39.26 and $38.23, respectively, at June 30, 2025 and $37.56 and $36.52, respectively, at September 30, 2024. This represents an 8% year-over-year increase in tangible book value per share. As previously reported, in August 2025, the Company redeemed all of its outstanding senior notes due November 2025 at par value plus accrued interest. Loans Loan portfolio composition at the dates indicated follows (dollars in thousands): September 30, 2025 June 30, 2025 December 31, 2024 Core C&I and CRE segments: Non-owner occupied commercial real estate $ 5,820,343 24.6 % $ 5,829,835 24.4 % $ 5,652,203 23.3 % Construction and land 714,272 3.0 % 643,630 2.7 % 561,989 2.3 % Owner occupied commercial real estate 1,943,331 8.2 % 1,942,076 8.1 % 1,941,004 8.0 % Commercial and industrial 6,612,538 27.8 % 6,743,739 28.2 % 7,042,222 28.9 % 15,090,484 63.6 % 15,159,280 63.4 % 15,197,418 62.5 % Franchise and equipment finance 134,635 0.6 % 149,022 0.6 % 213,477 0.9 % Pinnacle - municipal finance 637,198 2.7 % 694,639 2.9 % 720,661 3.0 % Mortgage warehouse lending ("MWL") 709,185 3.0 % 626,589 2.6 % 585,610 2.4 % Residential 7,130,992 30.1 % 7,303,997 30.5 % 7,580,814 31.2 % $ 23,702,494 100.0 % $ 23,933,527 100.0 % $ 24,297,980 100.0 % For the quarter ended September 30, 2025, the core C&I and CRE portfolio segments declined by a net $69 million. The CRE portfolio segments grew by $61 million while the C&I portfolio segments declined by $130 million. MWL grew by $83 million. Consistent with our balance sheet strategy, residential loans declined by $173 million. Our commercial real estate exposure totaled 28% of loans and 185% of the Bank's total risk based capital at September 30, 2025. By comparison, based on call report data as of June 30, 2025 for banks with between $10 billion and $100 billion in assets, the median level of CRE to total loans was 34% and the median level of CRE to total risk based capital was 225%. Asset Quality and the ACL The following table presents information about the ACL at the dates indicated as well as net charge-off rates for the periods ended September 30, 2025, June 30, 2025 and December 31, 2024 (dollars in thousands): ACL ACL to Total Loans Commercial ACL to Commercial Loans(2) ACL to Non-Performing Loans Net Charge-offs to Average Loans (1) September 30, 2025 $ 219,884 0.93 % 1.35 % 57.95 % 0.26 % June 30, 2025 $ 222,730 0.93 % 1.36 % 59.18 % 0.27 % December 31, 2024 $ 223,153 0.92 % 1.37 % 89.01 % 0.16 % __________________ (1) Annualized for the six months ended June 30, 2025 and the nine months ended September 30, 2025; ratio for December 31, 2024 represents annual net charge-off rate. (2) For purposes of this ratio, commercial loans includes the core C&I and CRE sub-segments as presented in the table above as well as franchise and equipment finance. Due to their unique risk profiles, MWL and municipal finance are excluded from this ratio. The ACL at September 30, 2025 represents management's estimate of lifetime expected credit losses, or the amount of amortized cost not expected to be collected, given an assessment of historical data, current conditions, and a reasonable and supportable economic forecast as of the balance sheet date. For the quarter ended September 30, 2025, the provision for credit losses, including portions related to both funded and unfunded loan commitments, was $11.6 million, compared to $15.7 million for the immediately preceding quarter ended June 30, 2025 and $9.2 million for the quarter ended September 30, 2024. The most significant factors impacting the provision for credit losses for the quarter ended September 30, 2025 were an improvement in our economic forecast, largely offset by increases in certain qualitative factors and in specific reserves. The majority of the increase in specific reserves related to one C&I loan and one CRE office loan. Net charge-offs also impacted the ACL. The following table summarizes the activity in the ACL for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, 2025 June 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024 Beginning balance $ 222,730 $ 219,747 $ 225,698 $ 223,153 $ 202,689 Provision 11,851 15,694 9,091 43,508 46,719 Net charge-offs (14,697 ) (12,711 ) (6,540 ) (46,777 ) (21,159 ) Ending balance $ 219,884 $ 222,730 $ 228,249 $ 219,884 $ 228,249 Charge-offs for the quarter ended September 30, 2025 related primarily to one C&I loan and one CRE office loan. As detailed in the following table, total criticized and classified commercial loans was stable quarter-over-quarter, declining by $3 million (in thousands): September 30, 2025 June 30, 2025 December 31, 2024 CRE Total Commercial CRE Total Commercial CRE Total Commercial Special mention $ 54,562 $ 136,640 $ 88,959 $ 130,879 $ 58,771 $ 262,387 Substandard - accruing 521,284 733,615 520,955 745,811 633,614 894,754 Substandard - non-accruing 149,993 306,953 152,634 317,958 95,378 219,758 Doubtful — 48,635 — 34,639 — 6,856 Total $ 725,839 $ 1,225,843 $ 762,548 $ 1,229,287 $ 787,763 $ 1,383,755 Net Interest Income Net interest income for the quarter ended September 30, 2025 was $250.1 million, compared to $246.1 million for the immediately preceding quarter ended June 30, 2025. Interest income decreased by $0.9 million for the quarter ended September 30, 2025 while interest expense decreased by $4.9 million. The decline in interest expense related to both a lower average cost of funds and lower average balance of interest bearing liabilities. The Company’s net interest margin, calculated on a tax-equivalent basis, increased by 0.07% to 3.00% for the quarter ended September 30, 2025, from 2.93% for the immediately preceding quarter ended June 30, 2025. Factors impacting the net interest margin for the quarter ended September 30, 2025 were: The net interest margin was positively impacted by a more favorable funding mix. Average NIDDA increased as a percentage of both total deposits and total funding, growing by $210 million for the quarter ended September 30, 2025, while average interest bearing liabilities declined by $526 million. The average cost of interest bearing liabilities declined to 3.52% for the quarter ended September 30, 2025 from 3.57% for the prior quarter. The average rate paid on interest bearing deposits declined to 3.40% for the quarter ended September 30, 2025, from 3.48% for the quarter ended June 30, 2025. This decline reflected the maturity of higher-rate term deposits, actions taken to proactively reduce deposit pricing in response to a lower Federal funds rate and higher priced brokered deposits, on average, declining for the quarter. The redemption of higher cost senior debt also positively impacted the cost of funds. The average rate paid on FHLB advances increased to 3.94% for the quarter ended September 30, 2025 from 3.79% for the quarter ended June 30, 2025, primarily due to the expiration of cash flow hedges. The yield on interest earning assets held flat quarter-over-quarter at 5.38%. While the tax equivalent yield on loans declined marginally, the tax equivalent yield on investment securities increased to 5.13% for the quarter ended September 30, 2025, from 5.06% for the quarter ended June 30, 2025. This increase related to coupon resets during periods of rate volatility and to changes in portfolio composition. Earnings Conference Call and Presentation A conference call to discuss quarterly results will be held at 9:00 a.m. ET on Wednesday, October 22, 2025 with Chairman, President and Chief Executive Officer Rajinder P. Singh, Chief Financial Officer Leslie N. Lunak, Chief Operating Officer Thomas M. Cornish and incoming Chief Financial Officer, James G. Mackey. The earnings release and slides with supplemental information relating to the release will be available on the Investor Relations page under About Us on www.bankunited.com prior to the call. Due to recent demand for conference call services, participants are encouraged to listen to the call via a live Internet webcast at https://ir.bankunited.com. To participate by telephone, participants will receive dial-in information and a unique PIN number upon completion of registration at https://register-conf.media-server.com/register/BIfa1eb10c2cce4ebcba9bc778ae3f56ae. For those unable to join the live event, an archived webcast will be available on the Investor Relations page at https://ir.bankunited.com approximately two hours following the live webcast. About BankUnited, Inc. BankUnited, Inc., with total assets of $35.1 billion at September 30, 2025, is the bank holding company of BankUnited, N.A., a national bank headquartered in Miami Lakes, Florida, with operations in Florida, New York, Dallas, Atlanta, Morristown, New Jersey, and Charlotte, North Carolina. BankUnited provides a full range of consumer and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions, and offers certain commercial lending and deposit products through national platforms. For additional information, call (877) 779-2265 or visit www.BankUnited.com. BankUnited can be found on Facebook at facebook.com/BankUnited.official, LinkedIn @BankUnited and on X @BankUnited. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the Company’s current views with respect to, among other things, future events and financial performance. The Company generally identifies forward-looking statements by terminology such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “could,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” "forecasts" or the negative version of those words or other comparable words. Any forward-looking statements contained in this press release are based on the historical performance of the Company and its subsidiaries or on the Company’s current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by the Company that the future plans, estimates or expectations contemplated by the Company will be achieved. Such forward-looking statements are subject to various risks and uncertainties and assumptions, including (without limitation) those relating to the Company’s operations, financial results, financial condition, business prospects, growth strategy and liquidity, including as impacted by external circumstances outside the Company's direct control, such as but not limited to adverse events or conditions impacting the financial services industry. If one or more of these or other risks or uncertainties materialize, or if the Company’s underlying assumptions prove to be incorrect, the Company’s actual results may vary materially from those indicated in these statements. These factors should not be construed as exhaustive. The Company does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. A number of important factors could cause actual results to differ materially from those indicated by the forward-looking statements. Information on these factors can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K, which are available at the SEC’s website (www.sec.gov). BANKUNITED, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - UNAUDITED (In thousands, except share and per share data) September 30, 2025 June 30, 2025 December 31, 2024 ASSETS Cash and due from banks: Non-interest bearing $ 13,589 $ 15,595 $ 12,078 Interest bearing 545,916 785,699 479,038 Cash and cash equivalents 559,505 801,294 491,116 Investment securities 9,467,082 9,401,071 9,130,244 Non-marketable equity securities 165,922 174,234 206,297 Loans 23,702,494 23,933,527 24,297,980 Allowance for credit losses (219,884 ) (222,730 ) (223,153 ) Loans, net 23,482,610 23,710,797 24,074,827 Bank owned life insurance 303,368 294,855 284,570 Operating lease equipment, net 201,777 214,455 223,844 Goodwill 77,637 77,637 77,637 Other assets 817,872 785,364 753,207 Total assets $ 35,075,773 $ 35,459,707 $ 35,241,742 LIABILITIES AND STOCKHOLDERS’ EQUITY Liabilities: Demand deposits: Non-interest bearing $ 8,625,115 $ 9,112,888 $ 7,616,182 Interest bearing 6,609,679 5,583,663 4,892,814 Savings and money market 9,936,797 10,171,156 11,055,418 Time 3,446,696 3,778,234 4,301,289 Total deposits 28,618,287 28,645,941 27,865,703 FHLB advances 2,080,000 2,255,000 2,930,000 Notes and other borrowings 320,431 708,937 708,553 Other liabilities 1,024,681 896,812 923,168 Total liabilities 32,043,399 32,506,690 32,427,424 Commitments and contingencies Stockholders' equity: Common stock, par value $0.01 per share, 400,000,000 shares authorized; 75,242,935, 75,218,911 and 74,748,370 shares issued and outstanding 752 752 747 Paid-in capital 310,974 306,271 301,672 Retained earnings 2,925,806 2,877,237 2,796,440 Accumulated other comprehensive loss (205,158 ) (231,243 ) (284,541 ) Total stockholders' equity 3,032,374 2,953,017 2,814,318 Total liabilities and stockholders' equity $ 35,075,773 $ 35,459,707 $ 35,241,742 BANKUNITED, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED (In thousands, except per share data) Three Months Ended Nine Months Ended September 30, 2025 June 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024 Interest income: Loans $ 324,390 $ 328,090 $ 355,220 $ 973,864 $ 1,053,081 Investment securities 120,419 117,346 127,907 351,634 375,794 Other 8,113 8,343 9,229 24,892 28,253 Total interest income 452,922 453,779 492,356 1,350,390 1,457,128 Interest expense: Deposits 163,555 170,695 208,630 508,460 626,719 Borrowings 39,255 36,965 49,598 112,560 155,402 Total interest expense 202,810 207,660 258,228 621,020 782,121 Net interest income before provision for credit losses 250,112 246,119 234,128 729,370 675,007 Provision for credit losses 11,577 15,698 9,248 42,386 44,071 Net interest income after provision for credit losses 238,535 230,421 224,880 686,984 630,936 Non-interest income: Deposit service charges and fees 5,387 5,323 5,016 15,945 15,238 Lease financing 4,152 4,612 6,368 13,077 23,448 Other non-interest income 16,027 17,875 11,504 46,624 35,264 Total non-interest income 25,566 27,810 22,888 75,646 73,950 Non-interest expense: Employee compensation and benefits 85,196 83,153 81,781 251,095 233,289 Occupancy and equipment 10,929 10,945 12,242 33,217 33,784 Deposit insurance expense 6,601 6,976 7,421 20,804 29,481 Technology 21,630 23,492 21,094 67,902 61,976 Depreciation of operating lease equipment 4,423 3,869 4,666 12,301 21,775 Other non-interest expense 37,390 35,892 37,378 105,403 101,223 Total non-interest expense 166,169 164,327 164,582 490,722 481,528 Income before income taxes 97,932 93,904 83,186 271,908 223,358 Provision for income taxes 26,081 25,138 21,734 72,815 60,193 Net income $ 71,851 $ 68,766 $ 61,452 $ 199,093 $ 163,165 Earnings per common share, basic $ 0.96 $ 0.91 $ 0.82 $ 2.65 $ 2.19 Earnings per common share, diluted $ 0.95 $ 0.91 $ 0.81 $ 2.63 $ 2.17 BANKUNITED, INC. AND SUBSIDIARIES AVERAGE BALANCES AND YIELDS (Dollars in thousands) Three Months Ended September 30, Three Months Ended June 30, Three Months Ended September 30, 2025 2025 2024 Average Balance Interest (1) Yield/ Rate (1)(2) Average Balance Interest (1) Yield/ Rate (1)(2) Average Balance Interest (1) Yield/ Rate (1)(2) Assets: Interest earning assets: Loans $ 23,533,712 $ 327,266 5.53 % $ 23,901,218 $ 330,805 5.55 % $ 24,299,898 $ 358,259 5.87 % Investment securities (3) 9,404,188 121,124 5.13 % 9,352,504 118,046 5.06 % 9,171,185 128,762 5.62 % Other interest earning assets 793,366 8,113 4.06 % 807,721 8,343 4.14 % 722,366 9,229 5.08 % Total interest earning assets 33,731,266 456,503 5.38 % 34,061,443 457,194 5.38 % 34,193,449 496,250 5.79 % Allowance for credit losses (227,694 ) (227,191 ) (231,383 ) Non-interest earning assets 1,390,051 1,370,990 1,444,410 Total assets $ 34,893,623 $ 35,205,242 $ 35,406,476 Liabilities and Stockholders' Equity: Interest bearing liabilities: Interest bearing demand deposits $ 5,586,547 $ 47,304 3.36 % $ 5,407,538 $ 45,689 3.39 % $ 3,930,101 $ 37,294 3.78 % Savings and money market deposits 9,921,293 83,862 3.35 % 10,355,700 88,023 3.41 % 11,304,999 119,856 4.22 % Time deposits 3,535,051 32,389 3.63 % 3,919,526 36,983 3.79 % 4,524,215 51,480 4.53 % Total interest bearing deposits 19,042,891 163,555 3.40 % 19,682,764 170,695 3.48 % 19,759,315 208,630 4.20 % FHLB advances 3,221,577 32,027 3.94 % 2,941,264 27,828 3.79 % 3,766,630 40,471 4.27 % Notes and other borrowings 542,241 7,228 5.34 % 709,081 9,137 5.16 % 708,829 9,127 5.15 % Total interest bearing liabilities 22,806,709 202,810 3.52 % 23,333,109 207,660 3.57 % 24,234,774 258,228 4.24 % Non-interest bearing demand deposits 8,203,439 7,993,915 7,384,721 Other non-interest bearing liabilities 868,385 931,879 1,009,157 Total liabilities 31,878,533 32,258,903 32,628,652 Stockholders' equity 3,015,090 2,946,339 2,777,824 Total liabilities and stockholders' equity $ 34,893,623 $ 35,205,242 $ 35,406,476 Net interest income $ 253,693 $ 249,534 $ 238,022 Interest rate spread 1.86 % 1.81 % 1.55 % Net interest margin 3.00 % 2.93 % 2.78 % __________________ (1) On a tax-equivalent basis where applicable (2) Annualized (3) At fair value BANKUNITED, INC. AND SUBSIDIARIES AVERAGE BALANCES AND YIELDS (Dollars in thousands) Nine Months Ended September 30, 2025 2024 Average Balance Interest (1) Yield/ Rate (1)(2) Average Balance Interest (1) Yield/ Rate (1)(2) Assets: Interest earning assets: Loans $ 23,788,158 $ 982,184 5.52 % $ 24,309,134 $ 1,062,407 5.84 % Investment securities (3) 9,288,070 353,760 5.08 % 9,006,654 378,358 5.60 % Other interest earning assets 798,956 24,892 4.17 % 732,435 28,253 5.15 % Total interest earning assets 33,875,184 1,360,836 5.37 % 34,048,223 1,469,018 5.76 % Allowance for credit losses (227,680 ) (221,135 ) Non-interest earning assets 1,376,969 1,534,800 Total assets $ 35,024,473 $ 35,361,888 Liabilities and Stockholders' Equity: Interest bearing liabilities: Interest bearing demand deposits $ 5,271,474 $ 132,886 3.37 % $ 3,752,828 $ 106,050 3.77 % Savings and money market deposits 10,366,899 263,664 3.40 % 11,238,662 357,440 4.25 % Time deposits 3,924,209 111,910 3.82 % 4,834,209 163,229 4.51 % Total interest bearing deposits 19,562,582 508,460 3.48 % 19,825,699 626,719 4.22 % FHLB advances 3,052,253 87,060 3.81 % 4,032,737 128,000 4.24 % Notes and other borrowings 652,843 25,500 5.21 % 709,668 27,402 5.15 % Total interest bearing liabilities 23,267,678 621,020 3.57 % 24,568,104 782,121 4.25 % Non-interest bearing demand deposits 7,873,052 7,132,351 Other non-interest bearing liabilities 934,559 958,888 Total liabilities 32,075,289 32,659,343 Stockholders' equity 2,949,184 2,702,545 Total liabilities and stockholders' equity $ 35,024,473 $ 35,361,888 Net interest income $ 739,816 $ 686,897 Interest rate spread 1.80 % 1.51 % Net interest margin 2.92 % 2.69 % __________________ (1) On a tax-equivalent basis where applicable (2) Annualized (3) At fair value BANKUNITED, INC. AND SUBSIDIARIES EARNINGS PER COMMON SHARE (In thousands except share and per share amounts) Three Months Ended Nine Months Ended September 30, 2025 June 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024 Basic earnings per common share: Numerator: Net income $ 71,851 $ 68,766 $ 61,452 $ 199,093 $ 163,165 Distributed and undistributed earnings allocated to participating securities (1,030 ) (979 ) (850 ) (2,829 ) (2,282 ) Income allocated to common stockholders for basic earnings per common share $ 70,821 $ 67,787 $ 60,602 $ 196,264 $ 160,883 Denominator: Weighted average common shares outstanding 75,227,314 75,222,756 74,753,372 75,124,070 74,675,279 Less average unvested stock awards (1,116,965 ) (1,124,872 ) (1,079,182 ) (1,114,472 ) (1,105,654 ) Weighted average shares for basic earnings per common share 74,110,349 74,097,884 73,674,190 74,009,598 73,569,625 Basic earnings per common share $ 0.96 $ 0.91 $ 0.82 $ 2.65 $ 2.19 Diluted earnings per common share: Numerator: Income allocated to common stockholders for basic earnings per common share $ 70,821 $ 67,787 $ 60,602 $ 196,264 $ 160,883 Adjustment for earnings reallocated from participating securities 7 5 6 15 9 Income used in calculating diluted earnings per common share $ 70,828 $ 67,792 $ 60,608 $ 196,279 $ 160,892 Denominator: Weighted average shares for basic earnings per common share 74,110,349 74,097,884 73,674,190 74,009,598 73,569,625 Dilutive effect of certain share-based awards 715,117 523,812 817,866 601,031 481,126 Weighted average shares for diluted earnings per common share 74,825,466 74,621,696 74,492,056 74,610,629 74,050,751 Diluted earnings per common share $ 0.95 $ 0.91 $ 0.81 $ 2.63 $ 2.17 BANKUNITED, INC. AND SUBSIDIARIES SELECTED RATIOS At or for the Three Months Ended At or for the Nine Months Ended September 30, 2025 June 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024 Financial ratios (4) Return on average assets 0.82 % 0.78 % 0.69 % 0.76 % 0.62 % Return on average stockholders’ equity 9.5 % 9.4 % 8.8 % 9.0 % 8.1 % Net interest margin (3) 3.00 % 2.93 % 2.78 % 2.92 % 2.69 % Loans to deposits 82.8 % 83.6 % 87.6 % 82.8 % 87.6 % Tangible book value per common share $ 39.27 $ 38.23 $ 36.52 $ 39.27 $ 36.52 September 30, 2025 June 30, 2025 December 31, 2024 Asset quality ratios Non-performing loans to total loans (1)(5) 1.60 % 1.57 % 1.03 % Non-performing assets to total assets (2)(5) 1.10 % 1.08 % 0.73 % ACL to total loans 0.93 % 0.93 % 0.92 % Commercial ACL to commercial loans (6) 1.35 % 1.36 % 1.37 % ACL to non-performing loans (1)(5) 57.95 % 59.18 % 89.01 % Net charge-offs to average loans(7) 0.26 % 0.27 % 0.16 % __________________ (1) We define non-performing loans to include non-accrual loans and loans other than purchased credit deteriorated and government insured residential loans that are past due 90 days or more and still accruing. Contractually delinquent purchased credit deteriorated and government insured residential loans on which interest continues to be accrued are excluded from non-performing loans. (2) Non-performing assets include non-performing loans, OREO and other repossessed assets. (3) On a tax-equivalent basis. (4) Annualized for the three and nine month periods as applicable. (5) Non-performing loans and assets include the guaranteed portion of non-accrual SBA loans totaling $40.0 million or 0.17% of total loans and 0.11% of total assets at September 30, 2025, $35.9 million or 0.15% of total loans and 0.10% of total assets at June 30, 2025, and $34.3 million or 0.14% of total loans and 0.10% of total assets at December 31, 2024. (6) For purposes of this ratio, commercial loans includes the C&I and CRE sub-segments, as well as franchise and equipment finance. Due to their unique risk profiles, MWL and municipal finance are excluded from this ratio. (7) Annualized for the six months ended June 30, 2025 and the nine months ended September 30, 2025; ratio for December 31, 2024 represents annual net charge-off rate. September 30, 2025 June 30, 2025 December 31, 2024 Required to be Considered Well Capitalized BankUnited, Inc. BankUnited, N.A. BankUnited, Inc. BankUnited, N.A. BankUnited, Inc. BankUnited, N.A. Capital ratios Tier 1 leverage 9.0 % 9.5 % 8.8 % 9.3 % 8.5 % 9.7 % 5.0 % Common Equity Tier 1 ("CET1") risk-based capital 12.5 % 13.2 % 12.2 % 13.0 % 12.0 % 13.7 % 6.5 % Total risk-based capital 14.4 % 14.1 % 14.3 % 13.9 % 14.1 % 14.6 % 10.0 % Tangible Common Equity/Tangible Assets 8.4 % N/A 8.1 % N/A 7.8 % N/A N/A Non-GAAP Financial Measures Tangible book value per common share is a non-GAAP financial measure. Management believes this measure is relevant to understanding the capital position and performance of the Company. Disclosure of this non-GAAP financial measure also provides a meaningful basis for comparison to other financial institutions as it is a metric commonly used in the banking industry. The following table reconciles the non-GAAP financial measurement of tangible book value per common share to the comparable GAAP financial measurement of book value per common share at the dates indicated (in thousands except share and per share data): September 30, 2025 June 30, 2025 September 30, 2024 Total stockholders’ equity $ 3,032,374 $ 2,953,017 $ 2,807,804 Less: goodwill and other intangible assets 77,637 77,637 77,637 Tangible stockholders’ equity $ 2,954,737 $ 2,875,380 $ 2,730,167 Common shares issued and outstanding 75,242,935 75,218,911 74,749,012 Book value per common share $ 40.30 $ 39.26 $ 37.56 Tangible book value per common share $ 39.27 $ 38.23 $ 36.52 View source version on businesswire.com: https://www.businesswire.com/news/home/20251022991032/en/ BankUnited, Inc. Investor Relations: Leslie N. Lunak, 786-313-1698 Source: BankUnited, Inc.