Asset quality improved as non-performing loans dropped $51 million; CET1 capital ratio was 12.3% and the company repurchased 1,100,000 shares for $50.1 million.
Quarterly results and margin
BankUnited posted Q2 net income of $70.7 million, or $0.97 per diluted share, up from $61.9 million, or $0.83, in Q1.
Net interest margin widened to 3.06%, up 0.07 percentage point from Q1; net interest income rose 2.7% to $259.2 million.
Deposits, funding and loan balances
Total deposits excluding brokered deposits grew by $1 billion; non-interest bearing demand deposits climbed $991 million, reaching 34% of total deposits.
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