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Jun 30, 2024
BankUnited Q2 2024 Earnings Report
Reported an outstanding quarter with margin expansion, deposit cost decline, non-interest bearing deposit growth, and core commercial loan portfolio growth.
Key Takeaways
BankUnited reported a strong second quarter in 2024, with net income of $53.7 million, or $0.72 per diluted share. The net interest margin expanded, the cost of deposits declined, non-interest bearing deposits grew, and the core commercial loan portfolio segments experienced good growth.
Net interest margin expanded by 0.15% to 2.72%.
Average cost of total deposits declined by 0.09% to 3.09%.
Non-brokered deposits grew by $1.3 billion and total deposits grew by $736 million.
Total loans grew by $402 million, with core C&I and commercial real estate portfolios growing by $589 million.
BankUnited
BankUnited
Forward Guidance
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.