BankUnited Q3 profit rallies to $72 million

• BankUnited (NYSE:BKU) reported third-quarter 2026 GAAP net income of $72.2 million, or $1.01 per diluted share, compared with $70.7 million and $0.97 per share in the second quarter.
• Net interest margin expanded to 3.16%, up 10 basis points sequentially and 16 basis points year over year, supported by lower deposit costs and improved funding composition.
• Excluding securities sales, net income reached $73.9 million, or $1.03 per diluted share, while BankUnited repurchased approximately $97 million in common shares.

BankUnited (NYSE:BKU) reported third-quarter 2026 net income of $72.2 million, compared with $70.7 million sequentially and $71.9 million a year earlier.

GAAP diluted earnings increased to $1.01 per share from $0.97 in the second quarter and $0.95 in the prior-year period.

Excluding securities sales, adjusted net income reached $73.9 million, or $1.03 per diluted share, compared with $70.0 million and $0.96 in the previous quarter.

Net interest margin improved to 3.16% from 3.06% sequentially, while average deposit costs declined six basis points to 1.99%.

Average core loans increased $706 million year over year, while noninterest-bearing demand deposits represented 32.2% of total deposits, up from 30.1%.

BankUnited repurchased approximately 2.1 million shares for $97 million during the quarter, while its annualized net charge-off ratio remained at 0.11%.