# EDGAR Filing Document

**Accession Number:** 0001504008
**File Stem:** 0001504008-25-000044
**Filing Date:** 2025-10
**Character Count:** 65739
**Document Hash:** 0da8d81195ba5269a46cd80c4bd3f4f8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001504008-25-000044.hdr.sgml**: 20251022

**ACCESSION NUMBER**: 0001504008-25-000044

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 43

**CONFORMED PERIOD OF REPORT**: 20251022

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251022

**DATE AS OF CHANGE**: 20251022

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BankUnited, Inc.
- **CENTRAL INDEX KEY:** 0001504008
- **STANDARD INDUSTRIAL CLASSIFICATION:** SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 270162450
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35039
- **FILM NUMBER:** 251408566

**BUSINESS ADDRESS:**
- **STREET 1:** 14817 OAK LANE
- **CITY:** MIAMI LAKES
- **STATE:** FL
- **ZIP:** 33016
- **BUSINESS PHONE:** (305) 569-2000

**MAIL ADDRESS:**
- **STREET 1:** 14817 OAK LANE
- **CITY:** MIAMI LAKES
- **STATE:** FL
- **ZIP:** 33016

?xml version='1.0' encoding='ASCII'? bku-20251022

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): October 22, 2025 **(October 22, 2025)**

**BankUnited, Inc.** 

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-35039** | **27-0162450** |
| (State of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |

---

---

| | | | |
|:---|:---|:---|:---|
| **14817 Oak Lane,** | **Miami Lakes,** | **FL** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33016** |
| (Address of principal executive offices) | (Address of principal executive offices) | (Address of principal executive offices) | (Zip Code) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant's telephone number, including area code): **(305) 569-2000** 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Class** | **Trading Symbol** | **Name of Exchange on Which Registered** |
| Common Stock, $0.01 Par Value | BKU | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

------

**Item 2.02&nbsp;&nbsp;&nbsp;&nbsp;Results of Operations and Financial Condition.**

On October 22, 2025, BankUnited, Inc. (the "Company") reported its results for the quarter ended September 30, 2025. A copy of the Company's press release containing this information and slides containing supplemental information related to this release are being furnished as Exhibit 99.1 and Exhibit 99.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.

**Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.**

(d) Exhibits.

---

| | | |
|:---|:---|:---|
| **Exhibit<br>Number** | **Description** | **Description** |
| <u>[99.1](earningsdocex99120250930.htm)</u> | <u>[Press release dated](earningsdocex99120250930.htm)</u> | October 22, 2025 |
| <u>[99.2](exhibit99209302025.htm)</u> | <u>[Supplemental information relating to the press release dated](exhibit99209302025.htm)</u> | October 22, 2025 |

---

------

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| Dated: | October 22, 2025 | BANKUNITED, INC. | BANKUNITED, INC. |
| | | /s/ Leslie N. Lunak | /s/ Leslie N. Lunak |
| | | Name: | Leslie N. Lunak |
| | | Title: | Chief Financial Officer |

---

------

**EXHIBIT INDEX**

---

| | | |
|:---|:---|:---|
| **Exhibit<br>Number** | **Description** | **Description** |
| <u>[99.1](earningsdocex99120250930.htm)</u> | <u>[Press release dated](earningsdocex99120250930.htm)</u> | October 22, 2025 |
| <u>[99.2](exhibit99209302025.htm)</u> | <u>[Supplemental information relating to the press release dated](exhibit99209302025.htm)</u> | October 22, 2025 |

---

## Exhibit 99.1

**Exhibit 99.1**

**<u>BANKUNITED, INC. REPORTS THIRD QUARTER 2025 RESULTS</u>**

Miami Lakes, Fla. — October 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.

**<u>Quarterly Highlights</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The loan to deposit ratio was 82.8% at September 30, 2025, compared to 83.6% at June 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

  

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*•* As previously reported, in August 2025, the Company redeemed all of its outstanding senior notes due November 2025 at par value plus accrued interest.

**<u>Loans</u>**

Loan portfolio composition at the dates indicated follows (dollars in thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **September 30, 2025** | **September 30, 2025** | **June 30, 2025** | **June 30, 2025** | **December 31, 2024** | **December 31, 2024** |
| Core C&I and CRE segments: |  |  |  |  |  |  |
| &nbsp;&nbsp;Non-owner occupied commercial real estate | $5820343 | 24.6% | $5829835 | 24.4% | $5652203 | 23.3% |
| &nbsp;&nbsp;Construction and land | 714272 | 3.0% | 643630 | 2.7% | 561989 | 2.3% |
| &nbsp;&nbsp;Owner occupied commercial real estate | 1943331 | 8.2% | 1942076 | 8.1% | 1941004 | 8.0% |
| &nbsp;&nbsp;Commercial and industrial | 6612538 | 27.8% | 6743739 | 28.2% | 7042222 | 28.9% |
|  | 15090484 | 63.6% | 15159280 | 63.4% | 15197418 | 62.5% |
| Franchise and equipment finance | 134635 | 0.6% | 149022 | 0.6% | 213477 | 0.9% |
| Pinnacle - municipal finance | 637198 | 2.7% | 694639 | 2.9% | 720661 | 3.0% |
| Mortgage warehouse lending ("MWL") | 709185 | 3.0% | 626589 | 2.6% | 585610 | 2.4% |
| Residential | 7130992 | 30.1% | 7303997 | 30.5% | 7580814 | 31.2% |
|  | $23702494 | 100.0% | $23933527 | 100.0% | $24297980 | 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%.

  

------

**<u>Asset Quality and the ACL</u>**

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**<sup>(2)</sup> | **ACL to Non-Performing Loans** | **Net Charge-offs to Average Loans** <sup>(1)</sup> |
| September 30, 2025 | $219884 | 0.93% | 1.35% | 57.95% | 0.26% |
| June 30, 2025 | $222730 | 0.93% | 1.36% | 59.18% | 0.27% |
| December 31, 2024 | $223153 | 0.92% | 1.37% | 89.01% | 0.16% |

---

(1)&nbsp;&nbsp;&nbsp;&nbsp;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)&nbsp;&nbsp;&nbsp;&nbsp;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** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **September 30, 2025** | **June 30, 2025** | **September 30, 2024** | **September 30, 2025** | **September 30, 2024** |
| Beginning balance | $222730 | $219747 | $225698 | $223153 | $202689 |
| &nbsp;&nbsp;&nbsp;Provision | 11851 | 15694 | 9091 | 43508 | 46719 |
| &nbsp;&nbsp;&nbsp;Net charge-offs | (14697) | (12711) | (6540) | (46777) | (21159) |
| Ending balance | $219884 | $222730 | $228249 | $219884 | $228249 |

---

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** | **September 30, 2025** | **June 30, 2025** | **June 30, 2025** | **December 31, 2024** | **December 31, 2024** |
| | **CRE** | **Total Commercial** | **CRE** | **Total Commercial** | **CRE** | **Total Commercial** |
| Special mention | $54562 | $136640 | $88959 | $130879 | $58771 | $262387 |
| Substandard - accruing | 521284 | 733615 | 520955 | 745811 | 633614 | 894754 |
| Substandard - non-accruing | 149993 | 306953 | 152634 | 317958 | 95378 | 219758 |
| Doubtful |  | 48635 |  | 34639 |  | 6856 |
| &nbsp;&nbsp;Total | $725839 | $1225843 | $762548 | $1229287 | $787763 | $1383755 |

---

**<u>Net Interest Income</u>**

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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

**<u>Earnings Conference Call and Presentation</u>**

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 <u>www.bankunited.com</u> 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 <u>https://ir.bankunited.com</u>. To participate by telephone, participants will receive dial-in information and a unique PIN number upon completion of registration at <u>https://register-conf.media-server.com/register/BIfa1eb10c2cce4ebcba9bc778ae3f56ae</u>. For those unable to join the live event, an archived webcast will be available on the Investor Relations page at <u>https://ir.bankunited.com</u> approximately two hours following the live webcast.

**<u>About BankUnited, Inc.</u>**

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.

  

------

**<u>Forward-Looking Statements</u>**

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).

Contact

BankUnited, Inc.

Investor Relations:

Leslie N. Lunak, 786-313-1698

Source: BankUnited, Inc.

  

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**BANKUNITED, INC. AND SUBSIDIARIES**

**CONSOLIDATED BALANCE SHEETS - UNAUDITED**

**(In thousands, except share and per share data)** 

---

| | | | |
|:---|:---|:---|:---|
| | **September 30,<br>2025** | **June 30,<br>2025** | **December 31,<br>2024** |
| **ASSETS** |  |  |  |
| Cash and due from banks: |  |  |  |
| &nbsp;&nbsp;&nbsp;Non-interest bearing | $13589 | $15595 | $12078 |
| &nbsp;&nbsp;&nbsp;Interest bearing | 545916 | 785699 | 479038 |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | 559505 | 801294 | 491116 |
| Investment securities | 9467082 | 9401071 | 9130244 |
| Non-marketable equity securities | 165922 | 174234 | 206297 |
| Loans | 23702494 | 23933527 | 24297980 |
| Allowance for credit losses | (219884) | (222730) | (223153) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans, net | 23482610 | 23710797 | 24074827 |
| Bank owned life insurance | 303368 | 294855 | 284570 |
| Operating lease equipment, net | 201777 | 214455 | 223844 |
| Goodwill | 77637 | 77637 | 77637 |
| Other assets | 817872 | 785364 | 753207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $35075773 | $35459707 | $35241742 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |  |
| **Liabilities:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Demand deposits: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-interest bearing | $8625115 | $9112888 | $7616182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest bearing | 6609679 | 5583663 | 4892814 |
| &nbsp;&nbsp;&nbsp;Savings and money market | 9936797 | 10171156 | 11055418 |
| &nbsp;&nbsp;&nbsp;Time | 3446696 | 3778234 | 4301289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 28618287 | 28645941 | 27865703 |
| &nbsp;&nbsp;&nbsp;FHLB advances | 2080000 | 2255000 | 2930000 |
| &nbsp;&nbsp;&nbsp;Notes and other borrowings | 320431 | 708937 | 708553 |
| &nbsp;&nbsp;&nbsp;Other liabilities | 1024681 | 896812 | 923168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 32043399 | 32506690 | 32427424 |
| **Commitments and contingencies** |  |  |  |
| **Stockholders' equity:** |  |  |  |
| &nbsp;&nbsp;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 |
| &nbsp;&nbsp;&nbsp;Paid-in capital | 310974 | 306271 | 301672 |
| &nbsp;&nbsp;&nbsp;Retained earnings | 2925806 | 2877237 | 2796440 |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (205158) | (231243) | (284541) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 3032374 | 2953017 | 2814318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $35075773 | $35459707 | $35241742 |

---

  

------

**BANKUNITED, INC. AND SUBSIDIARIES**

**CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED**

**(In thousands, except per share data)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **September 30, 2025** | **June 30, 2025** | **September 30, 2024** | **September 30, 2025** | **September 30, 2024** |
| **Interest income:** | | | | | |
| &nbsp;&nbsp;&nbsp;Loans | $324390 | $328090 | $355220 | $973864 | $1053081 |
| &nbsp;&nbsp;&nbsp;Investment securities | 120419 | 117346 | 127907 | 351634 | 375794 |
| &nbsp;&nbsp;&nbsp;Other | 8113 | 8343 | 9229 | 24892 | 28253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest income | 452922 | 453779 | 492356 | 1350390 | 1457128 |
| **Interest expense:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Deposits | 163555 | 170695 | 208630 | 508460 | 626719 |
| &nbsp;&nbsp;&nbsp;Borrowings | 39255 | 36965 | 49598 | 112560 | 155402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 202810 | 207660 | 258228 | 621020 | 782121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income before provision for credit losses | 250112 | 246119 | 234128 | 729370 | 675007 |
| &nbsp;&nbsp;&nbsp;Provision for credit losses | 11577 | 15698 | 9248 | 42386 | 44071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income after provision for credit losses | 238535 | 230421 | 224880 | 686984 | 630936 |
| **Non-interest income:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Deposit service charges and fees | 5387 | 5323 | 5016 | 15945 | 15238 |
| &nbsp;&nbsp;&nbsp;Lease financing | 4152 | 4612 | 6368 | 13077 | 23448 |
| &nbsp;&nbsp;&nbsp;Other non-interest income | 16027 | 17875 | 11504 | 46624 | 35264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total non-interest income | 25566 | 27810 | 22888 | 75646 | 73950 |
| **Non-interest expense:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Employee compensation and benefits | 85196 | 83153 | 81781 | 251095 | 233289 |
| &nbsp;&nbsp;&nbsp;Occupancy and equipment | 10929 | 10945 | 12242 | 33217 | 33784 |
| &nbsp;&nbsp;&nbsp;Deposit insurance expense | 6601 | 6976 | 7421 | 20804 | 29481 |
| &nbsp;&nbsp;&nbsp;Technology | 21630 | 23492 | 21094 | 67902 | 61976 |
| &nbsp;&nbsp;&nbsp;Depreciation of operating lease equipment | 4423 | 3869 | 4666 | 12301 | 21775 |
| &nbsp;&nbsp;&nbsp;Other non-interest expense | 37390 | 35892 | 37378 | 105403 | 101223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total non-interest expense | 166169 | 164327 | 164582 | 490722 | 481528 |
| Income before income taxes | 97932 | 93904 | 83186 | 271908 | 223358 |
| Provision for income taxes | 26081 | 25138 | 21734 | 72815 | 60193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income | $71851 | $68766 | $61452 | $199093 | $163165 |
| 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 September 30,** | **Three Months Ended September 30,** | **Three Months Ended June 30,** | **Three Months Ended June 30,** | **Three Months Ended June 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
| | **Average<br>Balance** | **Interest** <sup>(1)</sup> | **Yield/**<br>**Rate** <sup>(1)(2)</sup> | **Average<br>Balance** | **Interest** <sup>(1)</sup> | **Yield/**<br>**Rate** <sup>(1)(2)</sup> | **Average<br>Balance** | **Interest** <sup>(1)</sup> | **Yield/**<br>**Rate** <sup>(1)(2)</sup> |
| **Assets:** |  |  |  |  |  |  |  |  |  |
| **Interest earning assets:** |  |  |  |  |  |  |  |  |  |
| Loans | $23533712 | $327266 | 5.53% | $23901218 | $330805 | 5.55% | $24299898 | $358259 | 5.87% |
| Investment securities <sup>(3)</sup> | 9404188 | 121124 | 5.13% | 9352504 | 118046 | 5.06% | 9171185 | 128762 | 5.62% |
| Other interest earning assets | 793366 | 8113 | 4.06% | 807721 | 8343 | 4.14% | 722366 | 9229 | 5.08% |
| &nbsp;&nbsp;&nbsp;Total interest earning assets | 33731266 | 456503 | 5.38% | 34061443 | 457194 | 5.38% | 34193449 | 496250 | 5.79% |
| Allowance for credit losses | (227694) |  |  | (227191) |  |  | (231383) |  |  |
| Non-interest earning assets | 1390051 |  |  | 1370990 |  |  | 1444410 |  |  |
| &nbsp;&nbsp;&nbsp;Total assets | $34893623 |  |  | $35205242 |  |  | $35406476 |  |  |
| **Liabilities and Stockholders' Equity:** |  |  |  |  |  |  |  |  |  |
| **Interest bearing liabilities:** |  |  |  |  |  |  |  |  |  |
| Interest bearing demand deposits | $5586547 | $47304 | 3.36% | $5407538 | $45689 | 3.39% | $3930101 | $37294 | 3.78% |
| Savings and money market deposits | 9921293 | 83862 | 3.35% | 10355700 | 88023 | 3.41% | 11304999 | 119856 | 4.22% |
| Time deposits | 3535051 | 32389 | 3.63% | 3919526 | 36983 | 3.79% | 4524215 | 51480 | 4.53% |
| &nbsp;&nbsp;&nbsp;Total interest bearing deposits | 19042891 | 163555 | 3.40% | 19682764 | 170695 | 3.48% | 19759315 | 208630 | 4.20% |
| FHLB advances | 3221577 | 32027 | 3.94% | 2941264 | 27828 | 3.79% | 3766630 | 40471 | 4.27% |
| Notes and other borrowings | 542241 | 7228 | 5.34% | 709081 | 9137 | 5.16% | 708829 | 9127 | 5.15% |
| &nbsp;&nbsp;&nbsp;Total interest bearing liabilities | 22806709 | 202810 | 3.52% | 23333109 | 207660 | 3.57% | 24234774 | 258228 | 4.24% |
| Non-interest bearing demand deposits | 8203439 |  |  | 7993915 |  |  | 7384721 |  |  |
| Other non-interest bearing liabilities | 868385 |  |  | 931879 |  |  | 1009157 |  |  |
| &nbsp;&nbsp;&nbsp;Total liabilities | 31878533 |  |  | 32258903 |  |  | 32628652 |  |  |
| Stockholders' equity | 3015090 |  |  | 2946339 |  |  | 2777824 |  |  |
| &nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $34893623 |  |  | $35205242 |  |  | $35406476 |  |  |
| Net interest income |  | $253693 |  |  | $249534 |  |  | $238022 |  |
| Interest rate spread |  |  | 1.86% |  |  | 1.81% |  |  | 1.55% |
| Net interest margin |  |  | 3.00% |  |  | 2.93% |  |  | 2.78% |

---

(1)&nbsp;&nbsp;&nbsp;&nbsp;On a tax-equivalent basis where applicable

(2)&nbsp;&nbsp;&nbsp;&nbsp;Annualized

(3)&nbsp;&nbsp;&nbsp;&nbsp;At fair value

  

------

**BANKUNITED, INC. AND SUBSIDIARIES**

**AVERAGE BALANCES AND YIELDS**

**(Dollars in thousands)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
| | **Average<br>Balance** | **Interest** <sup>(1)</sup> | **Yield/**<br>**Rate** <sup>(1)(2)</sup> | **Average<br>Balance** | **Interest** <sup>(1)</sup> | **Yield/**<br>**Rate** <sup>(1)(2)</sup> |
| **Assets:** |  |  |  |  |  |  |
| **Interest earning assets:** |  |  |  |  |  |  |
| Loans | $23788158 | $982184 | 5.52% | $24309134 | $1062407 | 5.84% |
| Investment securities <sup>(3)</sup> | 9288070 | 353760 | 5.08% | 9006654 | 378358 | 5.60% |
| Other interest earning assets | 798956 | 24892 | 4.17% | 732435 | 28253 | 5.15% |
| &nbsp;&nbsp;&nbsp;Total interest earning assets | 33875184 | 1360836 | 5.37% | 34048223 | 1469018 | 5.76% |
| Allowance for credit losses | (227680) |  |  | (221135) |  |  |
| Non-interest earning assets | 1376969 |  |  | 1534800 |  |  |
| &nbsp;&nbsp;&nbsp;Total assets | $35024473 |  |  | $35361888 |  |  |
| **Liabilities and Stockholders' Equity:** |  |  |  |  |  |  |
| **Interest bearing liabilities:** |  |  |  |  |  |  |
| Interest bearing demand deposits | $5271474 | $132886 | 3.37% | $3752828 | $106050 | 3.77% |
| Savings and money market deposits | 10366899 | 263664 | 3.40% | 11238662 | 357440 | 4.25% |
| Time deposits | 3924209 | 111910 | 3.82% | 4834209 | 163229 | 4.51% |
| &nbsp;&nbsp;&nbsp;Total interest bearing deposits | 19562582 | 508460 | 3.48% | 19825699 | 626719 | 4.22% |
| FHLB advances | 3052253 | 87060 | 3.81% | 4032737 | 128000 | 4.24% |
| Notes and other borrowings | 652843 | 25500 | 5.21% | 709668 | 27402 | 5.15% |
| &nbsp;&nbsp;&nbsp;Total interest bearing liabilities | 23267678 | 621020 | 3.57% | 24568104 | 782121 | 4.25% |
| Non-interest bearing demand deposits | 7873052 |  |  | 7132351 |  |  |
| Other non-interest bearing liabilities | 934559 |  |  | 958888 |  |  |
| &nbsp;&nbsp;&nbsp;Total liabilities | 32075289 |  |  | 32659343 |  |  |
| Stockholders' equity | 2949184 |  |  | 2702545 |  |  |
| &nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $35024473 |  |  | $35361888 |  |  |
| Net interest income |  | $739816 |  |  | $686897 |  |
| Interest rate spread |  |  | 1.80% |  |  | 1.51% |
| Net interest margin |  |  | 2.92% |  |  | 2.69% |

---

(1)&nbsp;&nbsp;&nbsp;&nbsp;On a tax-equivalent basis where applicable

(2)&nbsp;&nbsp;&nbsp;&nbsp;Annualized

(3)&nbsp;&nbsp;&nbsp;&nbsp;At fair value

  

------

**BANKUNITED, INC. AND SUBSIDIARIES**

**EARNINGS PER COMMON SHARE**

**(In thousands except share and per share amounts)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| **c** | **September 30, 2025** | **June 30, 2025** | **September 30, 2024** | **September 30, 2025** | **September 30, 2024** |
| **Basic earnings per common share:** |  |  |  |  |  |
| **Numerator:** |  |  |  |  |  |
| Net income | $71851 | $68766 | $61452 | $199093 | $163165 |
| Distributed and undistributed earnings allocated to participating securities | (1030) | (979) | (850) | (2829) | (2282) |
| &nbsp;&nbsp;&nbsp;Income allocated to common stockholders for basic earnings per common share | $70821 | $67787 | $60602 | $196264 | $160883 |
| **Denominator:** |  |  |  |  |  |
| Weighted average common shares outstanding | 75227314 | 75222756 | 74753372 | 75124070 | 74675279 |
| Less average unvested stock awards | (1116965) | (1124872) | (1079182) | (1114472) | (1105654) |
| &nbsp;&nbsp;&nbsp;Weighted average shares for basic earnings per common share | 74110349 | 74097884 | 73674190 | 74009598 | 73569625 |
| **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 | $70821 | $67787 | $60602 | $196264 | $160883 |
| Adjustment for earnings reallocated from participating securities | 7 | 5 | 6 | 15 | 9 |
| &nbsp;&nbsp;&nbsp;Income used in calculating diluted earnings per common share | $70828 | $67792 | $60608 | $196279 | $160892 |
| **Denominator:** |  |  |  |  |  |
| Weighted average shares for basic earnings per common share | 74110349 | 74097884 | 73674190 | 74009598 | 73569625 |
| &nbsp;&nbsp;&nbsp;Dilutive effect of certain share-based awards | 715117 | 523812 | 817866 | 601031 | 481126 |
| &nbsp;&nbsp;Weighted average shares for diluted earnings per common share | 74825466 | 74621696 | 74492056 | 74610629 | 74050751 |
| **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 Three Months Ended** | **At or for the Three Months Ended** | **At or for the Nine 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** <sup>(4)</sup> |  |  |  |  |  |
| 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 <sup>(3)</sup> | 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 <sup>(1)(5)</sup> | 1.60% | 1.57% | 1.03% |
| Non-performing assets to total assets <sup>(2)(5)</sup> | 1.10% | 1.08% | 0.73% |
| ACL to total loans | 0.93% | 0.93% | 0.92% |
| Commercial ACL to commercial loans <sup>(6)</sup> | 1.35% | 1.36% | 1.37% |
| ACL to non-performing loans <sup>(1)(5)</sup> | 57.95% | 59.18% | 89.01% |
| Net charge-offs to average loans<sup>(7)</sup> | 0.26% | 0.27% | 0.16% |

---

(1)&nbsp;&nbsp;&nbsp;&nbsp;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)&nbsp;&nbsp;&nbsp;&nbsp;Non-performing assets include non-performing loans, OREO and other repossessed assets.

(3)&nbsp;&nbsp;&nbsp;&nbsp;On a tax-equivalent basis.

(4)&nbsp;&nbsp;&nbsp;&nbsp;Annualized for the three and nine month periods as applicable.

(5)&nbsp;&nbsp;&nbsp;&nbsp;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)&nbsp;&nbsp;&nbsp;&nbsp;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)&nbsp;&nbsp;&nbsp;&nbsp;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** | **September 30, 2025** | **June 30, 2025** | **June 30, 2025** | **December 31, 2024** | **December 31, 2024** | **Required to be Considered Well Capitalized** |
| | **BankUnited, Inc.** | **BankUnited, N.A.** | **BankUnited, Inc.** | **BankUnited, N.A.** | **BankUnited, Inc.** | **BankUnited, N.A.** | **Required to be Considered Well Capitalized** |
| **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 |

---

  

------

**<u>Non-GAAP Financial Measures</u>**

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 | $3032374 | $2953017 | $2807804 |
| &nbsp;&nbsp;Less: goodwill and other intangible assets | 77637 | 77637 | 77637 |
| Tangible stockholders' equity | $2954737 | $2875380 | $2730167 |
| Common shares issued and outstanding | 75242935 | 75218911 | 74749012 |
| Book value per common share | $40.30 | $39.26 | $37.56 |
| Tangible book value per common share | $39.27 | $38.23 | $36.52 |

---

## Exhibit 99.2

![](exhibit99209302025001.jpg)

October 22, 2025 Q3 2025 – Supplemental Information 1 Exhibit 99.2

------

![](exhibit99209302025002.jpg)

Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the current views of BankUnited, Inc. ("BankUnited," "BKU" or the "Company") 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 presentation 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). 2

------

![](exhibit99209302025003.jpg)

Quarterly Highlights 3

------

![](exhibit99209302025004.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Funding and Asset Mix Robust Capital Driving Earnings Growth Delivering on Organic Transformation Strategy 4 • Average NIDDA up $210 million QoQ and $741 million YoY • NIDDA up $1.0 billion or 13% YTD; as expected, NIDDA declined by $488 million QoQ reflecting normal seasonality; • NIDDA 30% of total deposits at September 30, 2025 • Cost of deposits down 0.09% to 2.38% from 2.47%; spot APY 2.31% at September 30 • Total loans down $231 million; lower yielding and non-core resi, franchise, equipment and municipal finance down an aggregate $245 million • Net income $71.9 million, 5% quarter-over-quarter increase • NIM expanded by 0.07% to 3.00% from 2.93%; up 22 bps from Q3 2024 • Annualized ROA improved to 0.82%, ROE improved to 9.5% • CET 1 ratio 12.5%; 11.7% pro-forma CET1 including AOCI • TCE/TA 8.4% • Tangible book value per share now $39.27, 8% year-over-year growth Expansion Opportunities • Full service commercial banking offices launched in Morristown NJ and Charlotte NC

------

![](exhibit99209302025005.jpg)

Highlights from Third Quarter Earnings Change From ($ in millions, except per share data) Q3'25 Q2'25 Q3'24 Q2'25 Q3'24 Net Interest Income $250 $246 $234 $4 $16 Provision for Credit Losses $12 $16 $9 ($4) $3 Total Non-interest Income $26 $28 $23 ($2) $3 Total Non-interest Expense $166 $164 $165 $2 $1 Net Income $72 $69 $61 $3 $11 EPS $0.95 $0.91 $0.81 $0.04 $0.14 Period-end Core C&I and CRE loans $15,090 $15,159 $15,013 ($69) $77 C&I growth impacted by strategic exits and high level of payoffs Period-end Loans $23,702 $23,934 $24,399 ($231) ($697) Strategic runoff of resi and non-core commercial categories NIDDA to total deposits 30% 32% 27% (2)% 3% Non-interest DDA $8,625 $9,113 $7,635 ($488) $990 Q3 impacted by expected seasonality Period-end Deposits $28,618 $28,646 $27,856 ($28) $762 Loans to Deposits 82.8% 83.6% 87.6% (0.8%) (4.8%) CET1 12.5% 12.2% 11.8% 0.3% 0.7% Total Capital 14.4% 14.3% 13.9% 0.1% 0.5% Yield on Loans 5.53% 5.55% 5.87% (0.02%) (0.34%) Yield on Securities 5.13% 5.06% 5.62% 0.07% (0.49%) Cost of Deposits 2.38% 2.47% 3.06% (0.09%) (0.68%) Down rate cycle beta of 89% on non-maturity interest-bearing deposits Net Interest Margin 3.00% 2.93% 2.78% 0.07% 0.22% Organic transformation strategy generating margin expansion Non-performing Assets to Total Assets(1) 1.10% 1.08% 0.64% 0.02% 0.46% ACL to Total Loans 0.93% 0.93% 0.94% —% (0.01%) Commercial ACL to Total Commercial Loans(3) 1.35% 1.36% 1.41% (0.01)% (0.06)% Net Charge-offs to Average Loans(2) 0.26% 0.27% 0.12% (0.01)% 0.14% 1. Includes guaranteed portion of non-accrual SBA loans. 2. Annualized for the nine months ended September 30, 2025 and 2024; and the six months ended June 30, 2025. 3. For purposes of this ratio, commercial loans includes the core 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. 5

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![](exhibit99209302025006.jpg)

Deposits 6

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![](exhibit99209302025007.jpg)

Deposit Trends ($ in millions) $3,384 $4,268 $5,164 $4,724 $4,301 $3,778 $3,447 $13,369 $13,061 $11,136 $10,325 $11,056 $10,171 $9,937 $3,709 $2,142 $3,403 $5,172 $4,893 $5,584 $6,609 $8,976 $8,038 $6,835 $7,635 $7,616 $9,113 $8,625 $29,438 $27,509 $26,538 $27,856 $27,866 $28,646 $28,618 Non-interest Demand Interest Demand Money Market / Savings Time 12/31/21 12/31/22 12/31/23 09/30/24 12/31/24 06/30/25 09/30/25 Quarterly Cost of Deposits 0.19% 1.42% 2.96% 3.06% 2.72% 2.47% 2.38% Non-interest bearing as a % of Total Deposits 30.5% 29.2% 25.8% 27.4% 27.3% 31.8% 30.1% 7 Diverse deposit book by sector; largest industry verticals at September 30: • National Title Solutions - $4.7 billion; • National HOA - $2.1 billion

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![](exhibit99209302025008.jpg)

Cost of Funds Trend 8 0.16% 1.92% 3.18% 2.63% 2.37% 2.31% 0.25% 4.50% 5.50% 4.50% 4.50% 4.25% Spot APY - Total Deposits Target Federal Funds Rate Upper Bound 12/31/21 12/31/22 12/31/23 12/31/24 06/30/25 09/30/25 (1.00)% —% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% Spot Average Annual Percentage Yield ("APY") At December 31, 2021 At December 31, 2022 At December 31, 2023 At December 31, 2024 At June 30, 2025 At September 30, 2025 Total non-maturity deposits 0.14% 1.83% 2.87% 2.37% 2.16% 2.13% Total interest-bearing deposits 0.23% 2.66% 4.20% 3.58% 3.41% 3.27% Total deposits 0.16% 1.92% 3.18% 2.63% 2.37% 2.31% Spread Between Fed Funds Upper Bound and Spot APY of Total Deposits

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![](exhibit99209302025009.jpg)

Loans and the Allowance for Credit Losses 9

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![](exhibit99209302025010.jpg)

10 Prudently Underwritten and Well-Diversified Loan Portfolio At September 30, 2025 ($ in millions) Loan Portfolio Over Time $8,368 $8,901 $8,209 $7,581 $7,304 $7,131 $5,702 $5,700 $5,819 $6,214 $6,473 $6,534 $6,735 $8,305 $8,907 $8,982 $8,686 $8,556 $1,092 $525 $433 $586 $627 $709$1,868 $1,455 $1,266 $935 $844 $772 $23,765 $24,886 $24,634 $24,298 $23,934 $23,702 Other Mortgage Warehouse Lending C&I CRE Residential 12/31/21 12/31/22 12/31/23 12/31/24 06/30/25 09/30/25

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![](exhibit99209302025011.jpg)

High Quality CRE Portfolio At September 30, 2025 ($ in millions) Property Type Balance % of Total CRE FL NY Tri State Other Wtd. Avg. DSCR Wtd. Avg. LTV Office $1,525 24 % 61 % 18 % 21 % 1.57 65.0 % Warehouse/Industrial 1,554 24 % 43 % 9 % 48 % 1.83 47.3 % Multifamily 749 11 % 52 % 46 % 2 % 1.98 48.0 % Retail 1,352 21 % 39 % 25 % 36 % 1.75 58.7 % Hotel 481 7 % 78 % 10 % 12 % 1.63 43.8 % Construction and Land 714 11 % 28 % 42 % 30 % NA NA Other 159 2 % 46 % 2 % 52 % 2.95 43.2 % $6,534 100 % 49 % 22 % 29 % 1.77 54.6 % 11 Florida NY Tri State Property Type Wtd. Avg. DSCR Wtd. Avg. LTV Wtd. Avg. DSCR Wtd. Avg. LTV Office 1.62 62.9 % 1.53 62.2 % Warehouse/Industrial 1.95 45.8 % 1.81 32.5 % Multifamily 2.63 44.1 % 1.24 52.6 % Retail 1.85 56.1 % 1.51 60.6 % Hotel 1.63 44.1 % 1.79 30.0 % Other 3.68 35.3 % 2.31 32.2 % 1.92 52.3 % 1.47 55.1 % Construction and land includes $87 million of office exposure, $83 million in NY New York rent regulated multi-family exposure $107 million

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![](exhibit99209302025012.jpg)

Manageable CRE Maturity Risk At September 30, 2025 ($ in millions) Property Type Maturing in the Next 12 Months % Maturing in the Next 12 Months Fixed Rate or Swapped Maturing in the Next 12 Months Fixed Rate to Borrower Maturing in Next 12 mos. as a % of Total Portfolio Office $456 30 % $318 21 % Warehouse/Industrial 342 22 % 164 11 % Multifamily 153 20 % 100 13 % Retail 309 23 % 233 17 % Hotel 194 40 % 147 30 % Construction and Land 278 39 % 42 6 % Other 26 16 % 26 16 % $1,758 27 % $1,030 16 % 12 16% of total CRE portfolio fixed and maturing in the next 12 months Property Type 2025 2026 2027 2028 2029 Thereafter Total Office $154 $503 $290 $241 $271 $66 $1,525 Warehouse/Industrial 104 406 308 281 158 297 1,554 Multifamily 57 144 144 166 134 104 749 Retail 124 260 175 368 127 298 1,352 Hotel 38 235 30 63 59 56 481 Construction and Land 82 213 316 10 35 58 714 Other — 26 19 29 15 70 159 $559 $1,787 $1,282 $1,158 $799 $949 $6,534 Maturity Distribution of CRE Loans

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![](exhibit99209302025013.jpg)

CRE Peer Benchmarking 13 34% 33% 28% Peer Median Peer Mean BankUnited, N.A —% 5% 10% 15% 20% 25% 30% 35% 40% 225% 206% 185% —% 50% 100% 150% 200% 250% 1. BKU information as of September 30, 2025 2. CRE peer median information based on June 30, 2025 Call Report data (most recent date available) for banks with total assets between $10 billion and $100 billion CRE / Total Loans(1)(2) CRE / Total Risk Based Capital(1)(2)

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![](exhibit99209302025014.jpg)

CRE Office Portfolio - Additional Information At September 30, 2025 14 • 19% or $292 million of the total office portfolio is medical office • Rent rollover in next 12 months approximately 12% of the total office portfolio; 14% for FL and 10% in NY Tri State • Manhattan stabilized portfolio has approximately 98% occupancy and rent rollover in the next 12 months of 9% • The Florida portfolio is predominantly suburban 30% 23% 19% 18% 6% 4% Manhattan Long Island NY Tri-State Other Queens Brooklyn Bronx 30% 22%20% 11% 10% 7% Tampa Orlando Boca/Palm Beach Miami-Dade Other Broward NY Tri-State by Sub-Market Florida by Sub-Market

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![](exhibit99209302025015.jpg)

Granular, Diversified Commercial & Industrial Portfolio At September 30, 2025 ($ in millions) Industry Balance(1) % of Portfolio Finance and Insurance $1,281 15.0 % Health Care and Social Assistance 831 9.7 % Utilities 721 8.4 % Manufacturing 712 8.3 % Wholesale Trade 652 7.6 % Educational Services 633 7.4 % Construction 575 6.7 % Transportation and Warehousing 529 6.2 % Real Estate and Rental and Leasing 523 6.1 % Information 469 5.5 % Retail Trade 363 4.2 % Professional, Scientific, and Technical Services 309 3.6 % Public Administration 254 3.0 % Other Services (except Public Administration) 240 2.8 % Arts, Entertainment, and Recreation 143 1.7 % Accommodation and Food Services 125 1.5 % Administrative and Support and Waste Management 80 0.9 % Other 116 1.4 % $8,556 100.0 % 15 1. Includes $1.9 billion of owner-occupied real estate Geographic Distribution FL 30% NY Tri State 27% Other 28% NDFI 15%

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![](exhibit99209302025016.jpg)

Loans to Non-Depository Financial Institutions (NDFI) At September 30, 2025 ($ in millions) 16 B2B $463 Capital Call / Subscription Lines $344 Other $449 NDFI Portfolio Distribution Portfolio characteristics: • $1.3B NDFI Exposure • NDFI loans make up 5% of total loans; 8% of commercial loans • Substantial majority of NDFI portfolio is pass rated. One $26 million loan is classified • Only $5 million past due 30 days • Chart excludes $709 million in mortgage warehouse lines • "Other" includes REITs, B2C, Private Equity Funds, Insurance Carriers and Investment Services

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![](exhibit99209302025017.jpg)

$222.7 $19.1 $3.2 $9.3 $(1.9) $(14.7) $(17.8) $219.9 Drivers of Change in the ACL - Current Quarter ($ in millions) Increase in Specific Reserves Economic Forecast Net Charge- Offs ACL 09/30/25 ACL 06/30/25 0.93%0.93%% of Total Loans 17 Change in Qualitative Overlay Portfolio Changes and Other • Current market adjustment • Lower weight to downside scenario • Changes to forward path of forecast • Portfolio composition changes • New production net of exits • Changes in borrower financials • Primarily related to model imprecision and idiosyncratic risk • Primarily related to one C&I and one CRE office loan • Primarily related to one C&I and one CRE office loan Risk Rating Migration

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![](exhibit99209302025018.jpg)

Allocation of the ACL ($ in millions) December 31, 2024 June 30, 2025 September 30, 2025 Balance % of Loans Balance % of Loans Balance % of Loans Commercial: Commercial real estate $70.5 1.13 % $58.4 0.90 % $62.3 0.95 % Commercial and industrial 138.0 1.54 % 149.0 1.72 % 142.9 1.67 % Franchise and equipment finance 2.3 1.12 % 1.1 0.73 % 1.1 0.79 % Total commercial 210.8 1.37 % 208.5 1.36 % 206.3 1.35 % Pinnacle - municipal finance 0.1 0.02 % 0.1 0.01 % 0.1 0.01 % Residential and mortgage warehouse lending 12.3 0.15 % 14.1 0.18 % 13.5 0.17 % Allowance for credit losses $223.2 0.92 % $222.7 0.93 % $219.9 0.93 % Asset Quality Ratios December 31, 2024 June 30, 2025 September 30, 2025 Non-performing loans to total loans(1) 1.03 % 1.57 % 1.60 % Non-performing loans, excluding the guaranteed portion of non- accrual SBA loans, to total loans 0.89 % 1.42 % 1.43 % Non-performing assets to total assets(1) 0.73 % 1.08 % 1.10 % Non-performing assets, excluding the guaranteed portion of non- accrual SBA loans, to total assets 0.63 % 0.98 % 0.99 % Allowance for credit losses to non-performing loans(1) 89.01 % 59.18 % 57.95 % Net charge-offs to average loans(2) 0.16 % 0.27 % 0.26 % Net charge-offs to average loans, trailing twelve months 0.16 % 0.23 % 0.27 % 18 1. Non-performing loans and assets include the guaranteed portion of non-accrual SBA loans totaling $40.0 million, $35.9 million and $34.3 million at September 30, 2025, June 30, 2025 and December 31, 2024, respectively. 2. Annualized for the six months ended June 30, 2025 and the nine months ended September 30, 2025. Office Portfolio ACL: 2.21% at September 30, 2025, 1.92% at June 30, 2025

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![](exhibit99209302025019.jpg)

Asset Quality Metrics 19 Non-Performing Loans to Total Loans Non-Performing Assets to Total Assets Net Charge-offs to Average Loans(1) 0.87% 0.42% 0.52% 1.03% 1.57% 1.60% 0.68% 0.26% 0.35% 0.89% 1.42% 1.43% Incl. guaranteed portion of non-accrual SBA loans Excl. guaranteed portion of non-accrual SBA loans 12/31/21 12/31/22 12/31/23 12/31/24 06/30/25 09/30/25 —% 0.25% 0.50% 0.75% 1.00% 1.25% 1.50% 1.75% 0.58% 0.29% 0.37% 0.73% 1.08% 1.10% 0.45%0.18% 0.25% 0.63% 0.98% 0.99% Incl. guaranteed portion of non-accrual SBA loans Excl. guaranteed portion of non-accrual SBA loans 12/31/21 12/31/22 12/31/23 12/31/24 06/30/25 09/30/25 —% 0.25% 0.50% 0.75% 1.00% 1.25% 1.50% 1.75% 0.29% 0.22% 0.09% 0.16% 0.27% 0.26% 12/31/21 12/31/22 12/31/23 12/31/24 06/30/25 09/30/25 —% 0.20% 0.40% 0.60% 1. Annualized for the six months ended June 30, 2025 and the nine months ended September 30, 2025.

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![](exhibit99209302025020.jpg)

Non-Accrual Loans by Portfolio Segment ($ in millions) 20 $206 $105 $127 $251 $376 $379 $29 $21 $21 $24 $23 $23 $30 $86 $142 $136$58 $22 $34 $97 $167 $173 $33 $13 $24 $6 $4 $3 $46 $40 $42 $34 $36 $40 $10 $9 $6 $4 $4 $4 Non-Guaranteed Portion of SBA Guaranteed Portion of SBA Franchise and Equipment C&I CRE Residential and Other Consumer 12/31/21 12/31/22 12/31/23 12/31/24 06/30/25 09/30/25 $89$17 $30 Office Multifamily - NY Rent Regulated Construction and Land - Office Non-performing CRE loans by Property Type at September 30, 2025 Non-performing loans by Portfolio Segment

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![](exhibit99209302025021.jpg)

Criticized and Classified Loans Trend ($ in millions) 21 Commercial Real Estate(1) Commercial(1)(2) Special Mention Substandard Accruing Substandard Non-accruing and Doubtful 12/31/21 12/31/2022 12/31/23 12/31/24 06/30/25 09/30/25 $— $100 $200 $300 $400 $500 $600 $700 $800 $900 $1,000 12/31/21 12/31/2022 12/31/23 12/31/24 06/30/25 09/30/25 $— $100 $200 $300 $400 $500 $600 $700 $800 $900 $1,000 1. Excludes SBA 2. Includes C&I and franchise and equipment finance

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![](exhibit99209302025022.jpg)

Criticized and Classified CRE Loans by Property Type ($ in millions) 22 December 31, 2024 $138 $17 $47 $101 $340 $128 $3 $14 $147 $82 $47$89 $283 $59 $19 Multifamily Hotel Industrial/ Warehouse Retail Office Construction & Land (1) Other SBA September 30, 2025 (1) office exposure at 9/30/2025 and 6/30/2025 June 30, 2025 $160 $62 $47 $95 $323 $60 $16

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![](exhibit99209302025023.jpg)

Asset Quality - Delinquencies ($ in millions) 23 Commercial(1) CRE 12/31/21 12/31/22 12/31/23 12/31/24 06/30/25 09/30/25 $— $20 $40 $60 $80 $100 Residential(2) 12/31/21 12/31/22 12/31/23 12/31/24 06/30/25 09/30/25 $— $20 $40 $60 $80 $100 30-59 Days PD 60-89 Days PD 90 Days+ PD 12/31/21 12/31/22 12/31/23 12/31/24 06/30/25 09/30/25 $— $20 $40 $60 $80 $100 1. Includes C&I, franchise finance and equipment finance 2. Excludes government insured residential loans

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![](exhibit99209302025024.jpg)

Residential Portfolio Overview At September 30, 2025 24 Residential Loan Product Type FICO Distribution(1) Breakdown by LTV(1) 1. Excludes government insured residential loans. FICOs are refreshed routinely. LTVs are typically at origination Prior 32% 2021 42% 2022 15% 2023 4% 2024 4% 2025 3% >759 76% 720-759 14% <720 or NA 10% Breakdown by Vintage(1) 30 Yr Fixed 34% 15 & 20 Year Fixed 12% 10/1 ARM 13% 5/1 & 7/1 ARM 28% Govt Insured 13% High quality residential portfolio consists primarily of high FICO, low LTV, prime jumbo mortgages with de-minimis charge-offs since inception as well as government insured loans 60% or less 33% 61% - 70% 25% 71% - 80% 39% More than 80% 3%

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![](exhibit99209302025025.jpg)

Stress Testing Results - Expected Credit Losses in CCAR Severely Adverse Scenario ($ in millions) 25 2.9% 2.8% 0.4% Commercial CRE Residential Total —% 1.0% 2.0% 3.0% 4.0% 4.3% 0.9% 2.4% 1.5% 6.8% 1.4% 2.8% Office Industrial Multifamily Retail Hotel Other Total —% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% $271 $173 $28 $472 Lifetime expected credit losses in the CCAR severely adverse scenario $80 $12 $31 $16 $33 $1 $173 Lifetime expected credit losses in the CCAR severely adverse scenario 1. Excludes Pinnacle municipal finance and mortgage warehouse lending. 2. Construction loans are included in the chart by their applicable property type. • Bank projected to remain well above well capitalized threshold under hypothetical severe stress CRE Stressed Expected Credit Losses by Property Type(2) Stressed Expected Credit Losses by Segment 1)(3) 3. Stress testing results based on loan portfolio as of December 31, 2024.

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![](exhibit99209302025026.jpg)

Investment Portfolio 26

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![](exhibit99209302025027.jpg)

High Quality, Short-Duration Securities Portfolio ($ in millions) December 31, 2024 June 30, 2025 September 30, 2025 Portfolio Net Unrealized Loss Fair Value Net Unrealized Gain/(Loss) Fair Value Net Unrealized Loss Fair Value US Government and Agency $(99) $3,421 $(66) $3,420 $(57) $3,453 Private label RMBS and CMOs (253) 2,238 (225) 2,361 (207) 2,356 Private label CMBS (39) 1,784 (25) 2,095 (17) 2,260 CLOs 2 1,133 — 1,119 — 988 Other (17) 525 (14) 397 (9) 401 $(406) $9,101 $(330) $9,392 $(290) $9,458 Portfolio Composition US Government and Agency 37% Private label RMBS and CMOs 25% Private label CMBS 24% CLOs 10% Other 4% Rating Distribution GOV 37% AAA 54% AA 6% A 2% NR 1% • No expected credit losses on AFS securities • Unrealized losses just 3% of amortized cost • AFS portfolio duration of 1.59; approximately 72% of the portfolio floating rate 27

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![](exhibit99209302025028.jpg)

High Quality, Short-Duration Securities Portfolio At September 30, 2025 Strong credit enhancement levels - no SASB(1) exposure Private Label RMBS Subordination Wtd. Avg. Stress Scenario LossRating Min Max Avg. AAA 2.8 83.9 17.9 2.1 AA 22.2 48.4 29.0 7.0 A 21.3 25.4 23.4 14.1 NR 20.0 20.0 20.0 12.8 Wtd. Avg. 4.8 77.9 18.6 3.1 Private Label CMBS Subordination Wtd. Avg. Stress Scenario LossRating Min Max Avg. AAA 29.0 94.3 46.5 8.9 AA 33.7 94.2 53.3 7.2 A 28.0 45.9 36.7 10.5 Wtd. Avg. 29.3 92.6 46.6 8.8 CLOs Subordination Wtd. Avg. Stress Scenario LossRating Min Max Avg. AAA 39.2 80.5 43.9 15.3 AA 30.6 34.3 32.3 14.5 Wtd. Avg. 37.9 73.4 42.1 15.2 AAA 89% AA 3% A 3% NR 5% AAA 90% AA 7% A 3% AAA 85% AA 15% 281. Single-asset, single-borrower

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