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What were the key takeaways from BankUnited's earnings call?

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- **3% NIM Achievement**: Margin target met 3 months early, driven by funding mix (broker deposits down 9 bps to 2.38%).
- **Fee Income Surge**: 24% YoY growth in core fees, with FX, syndications, and purchasing card businesses in early innings.
- **Credit Stability**: ACL ratio stable at 93 bps, with NDFI portfolio (1.3B, 5% of loans) well-secured and no consumer credit risks.
- **Strategic Growth**: 2026 outlook includes C&amp;I loan growth, disciplined CRE expansion, and opportunistic buybacks.

**【CEO Summary Section】**
- **Strong Financial Performance**: Q3 net income of $71.9 million ($0.95 EPS), up 15% YoY. Net interest margin (NIM) reached 3%, 7 basis points higher than last quarter, driven by improved funding mix and reduced broker deposits.
- **Operational Efficiency**: Noninterest income grew 24% YoY, with fee income initiatives (e.g., FX, syndications) showing early traction. Operating expenses were well-controlled, with a focus on capital allocation (buybacks, fee-based growth).
- **Strategic Priorities**: Emphasized disciplined loan growth, particularly in CRE (retail, industrial, multifamily), and reducing reliance on high-cost funding. Buybacks will be opportunistic amid market volatility.

**【CFO Financial Commentary】**
- **Balance Sheet Management**: Average deposits grew $210 million, while interest-bearing liabilities declined $526 million, reducing cost of deposits to 2.38%. NIM expansion offset runoff in C&amp;I loans ($130M) and mortgage warehouse growth ($83M).
- **Credit Quality**: Net charge-offs of $14.7 million (26 bps) were stable, with provisions of $11.6 million reflecting economic outlook. ACL ratio remained stable at 93 bps, with no significant emerging risks in NDFI ($1.3B, 5% of loans).
- **Capital Position**: CET1 ratio at 12.5%, tangible book value $39.27/share. Buybacks will be opportunistic, with no special dividends planned.

**【Q&A Highlights】**
- **Credit &amp; Loan Growth**: C&amp;I runoff ($69M) offset by CRE growth ($61M). Expect Q4 loan flattish, with 2026 C&amp;I growth driven by pipeline. NDFI portfolio stable, with no subprime consumer exposure.
- **Fee Income Potential**: Early-stage businesses (FX, syndications) show promise, with 24% core fee growth masking lease financing decline. Synergies with core lending to drive recurring income.
- **Market Outlook**: Optimistic on CRE (retail, industrial, multifamily), with disciplined pricing and risk management. Buybacks and fee growth key to margin expansion.

BankUnited, Inc. (BKU) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

BKU

BKU fundamentals

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