BankUnited, Inc. reported financial results for the quarter ended September 30, 2026, filing a Current Report on Form 8-K on October 21, 2026. The company reported net income of $72.2 million for the third quarter, a slight increase of $1.5 million from the prior quarter. On a per-share basis, diluted earnings were $1.01, up from $0.97 in the second quarter of 2026.
The company’s net interest margin (NIM) expanded to 3.16% for the quarter, an increase of 10 basis points from the previous quarter and 16 basis points from the same period a year ago. This expansion was driven by improved deposit pricing, which lowered the average cost of deposits to 1.99%, and favorable repricing of commercial loans and investment securities.
BankUnited’s balance sheet showed continued deposit momentum, with non-interest bearing demand deposits averaging $9.03 billion, up 10% from a year ago. Average total deposits increased by $1.0 billion year-over-year. The company also returned capital to shareholders, repurchasing approximately 2.1 million shares for an aggregate of $97.0 million during the quarter.
Loan portfolio composition shifted during the period. Average commercial real estate (CRE) loans increased by $75 million from the prior quarter, while average commercial and industrial (C&I) loans decreased by $306 million. Average mortgage warehouse lending (MWL) loans increased by $133 million. Average residential loans decreased by $151 million, consistent with the company’s repositioning strategy.
Credit quality metrics remained strong, with criticized and classified loans decreasing by $176 million from a year ago. The net charge-off ratio remained low at 0.11%. However, non-performing loans (NPLs) increased by $40 million from the prior quarter, though they were down $116 million from a year ago. The allowance for credit losses stood at $221.5 million, representing 0.93% of total loans.
Capital ratios were reported at 12.1% for Common Equity Tier 1 (CET1) and 8.0% for the tangible common equity ratio. The company’s total assets were reported at $34.6 billion as of September 30, 2026.
