Slide 1: Q2 2023 – Supplemental Information
July 25, 2023 Q2 2023 – Supplemental Information 1 Exhibit 99.2
Slide 2: Forward-Looking Statements
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
Slide 3: Quarterly Highlights
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Slide 4: Topics of Current Interest
Topics of Current Interest Robust Capital Position(1) (2) • CET1 ratios of 11.2% at the holding company and 13.0% at the bank • Pro-forma holding company CET1 of 9.7% including AOCI • Book value and tangible book value per share grew to $33.94 and $32.90 • CET 1 ratio trough of 11.8% at the Bank in
Slide 5: Highlights from Second Quarter Earnings
Highlights from Second Quarter Earnings Change From ($ in millions, except per share data) Q2’23 Q1’23 Q2’22 Q1’23 Q2’22 Key Highlights Net Interest Income $214 $228 $225 $(14) $(11) Impacted by mix shift in funding sources and higher liquidity Provision for Credit Losses $16 $20 $24 $(4) $(8) Total
Slide 6: Strong Capital Position Relative to Peers and Regulatory Requirements
Strong Capital Position Relative to Peers and Regulatory Requirements 6 6.5% 6.5% 13.0% 11.2%11.5% 9.7% 11.9% 11.0% 11.8% Required to be Considered Well Capitalized CET1 CET1 including AOCI CET1 Peer Median(1)(2) CCAR Stress Test Trough BankUnited, N.A BankUnited, Inc —% 2.0% 4.0% 6.0% 8.0% 10.0% 12
Slide 7: Deposits
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Slide 8: Deposit Mix and Cost of Deposits Impacted by Current Rate Environment
Deposit Mix and Cost of Deposits Impacted by Current Rate Environment ($ in millions) $23,474 $24,395 $27,496 $29,438 $27,509 $25,723 $25,839 $6,820 $7,347 $4,807 $3,384 $4,268 $5,250 $5,520 $11,262 $10,622 $12,660 $13,369 $13,061 $10,601 $10,084 $1,771 $2,131 $3,020 $3,709 $2,142 $2,505 $2,930 $3,6
Slide 9: Cost of Funds Trend
Cost of Funds Trend 9 1.42% 0.36% 0.16% 1.92% 2.27% 2.60%1.75% 0.25% 0.25% 4.50% 5.00% 5.25% Spot APY - Total Deposits Target Federal Funds Rate Upper Bound 12/31/19 12/31/20 12/31/21 12/31/22 03/31/23 06/30/23 (1.00)% —% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% Spot Average Annual Percentage Yield (“APY
Slide 10: Loans and the Allowance for Credit Losses
Loans and the Allowance for Credit Losses 10
Slide 11: Prudently Underwritten and Well-Diversified Loan Portfolio
11 Prudently Underwritten and Well-Diversified Loan Portfolio At June 30, 2023 ($ in millions) Loan Portfolio Over Time $5,661 $6,348 $8,368 $8,901 $8,790 $8,606 $7,493 $6,896 $5,702 $5,700 $5,672 $5,696 $6,718 $6,448 $6,735 $8,305 $8,480 $8,407 $768 $1,259 $1,092 $525 $525 $523 $2,515 $2,915 $1,868
Slide 12: High Quality CRE Portfolio
High Quality CRE Portfolio At June 30, 2023 ($ in millions) Property Type Balance % of Total CRE FL NY Tri State Other Wtd. Avg. DSCR Wtd. Avg. LTV Office $ 1,852 32 % 59 % 24 % 17 % 1.61 66.2 % Warehouse/Industrial 1,221 21 % 61 % 10 % 29 % 1.99 52.0 % Multifamily 842 15 % 48 % 52 % — % 2.18 45.4 %
Slide 13: Manageable CRE Maturity Risk
Manageable CRE Maturity Risk At June 30, 2023 ($ 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 as a % of Total Portfolio Office $ 417 23 % $ 228 12 % Warehouse/Industrial 95 8 % 5
Slide 14: CRE Peer Benchmarking
CRE Peer Benchmarking 14 34% 34% 23% Peer Median (1) Peer Mean (1) BankUnited, N.A —% 5% 10% 15% 20% 25% 30% 35% 40% 223% 216% 169% —% 50% 100% 150% 200% 250% 1. CRE peer median information based on March 31 Call Report data for banks with total assets between $10 billion and $100 billion CRE / Tota
Slide 15: CRE Office Portfolio - Additional Information
CRE Office Portfolio - Additional Information At June 30, 2023 15 • Rent rollover in next 12 months approximately 11% of the total office portfolio; 14% for FL and 6% in NY Tri State • Manhattan portfolio has approximately 94% occupancy and rent rollover in the next 12 months of 5% • Substantially a
Slide 16: Granular, Diversified Commercial & Industrial Portfolio
Granular, Diversified Commercial & Industrial Portfolio At June 30, 2023 ($ in millions) Industry Balance(1) % of Portfolio Finance and Insurance $ 1,753 20.9 % Manufacturing 781 9.3 % Educational Services 708 8.4 % Utilities 625 7.4 % Information 589 7.0 % Wholesale Trade 587 7.0 % Real Estate and
Slide 17: Stress Testing Results
Stress Testing Results ($ in millions) 17 2.7% 3.3% 0.7% 2.2% Commercial CRE Residential Total —% 1.0% 2.0% 3.0% 4.0% 4.7% 0.5% 3.1% 2.6% 6.6% 4.8% 3.3% 2.3% 0.2% 1.5% 1.0% 5.3% 1.9% 1.7% CCAR Severely Adverse Scenario Moody’s S4 Office Industrial Multifamily Retail Hotel Other Total —% 1.0% 2.0% 3.
Slide 18: Drivers of Change in the ACL - Current Quarter
Drivers of Change in the ACL - Current Quarter ($ in millions) $158.8 $(3.9) $35.8 $(6.2) $14.6 $(26.6) $(5.7) $166.8 Risk Rating Migration and Specific Reserves Economic Forecast Net Charge- Offs Other Changes in Qualitative Overlay ACL 06/30/23 ACL 03/31/23 0.68%0.64%% of Total Loans 18 • Impact o
Slide 19: Allocation of the ACL
Allocation of the ACL ($ in millions) December 31, 2022 March 31, 2023 June 30, 2023 Balance % of Loans Balance % of Loans Balance % of Loans Residential $ 11.7 0.13 % $ 11.8 0.13 % $ 8.9 0.10 % Commerical: Commercial real estate 24.8 0.43 % 26.0 0.46 % 29.7 0.52 % Commercial and industrial 97.2 1.1
Slide 20: Asset Quality Metrics
Asset Quality Metrics 20 Non-Performing Loans to Total Loans Non-Performing Assets to Total Assets Net Charge-offs to Average Loans 0.88% 1.02% 0.87% 0.42% 0.46% 0.48% 0.68% 0.80% 0.68% 0.26% 0.31% 0.33% Incl. guaranteed portion of non-accrual SBA loans Excl. guaranteed portion of non-accrual SBA lo
Slide 21: Non-Performing Loans by Portfolio Segment
Non-Performing Loans by Portfolio Segment ($ in millions) 21 $205 $244 $206 $105 $114 $119 $19 $29 $29 $21 $23 $23 $24 $60 $30 $3 $65 $43 $58 $22 $42 $48 $21 $14 $45 $33 $13 $6 $4 $46 $51 $46 $40 $37 $36 $16 $16 $10 $9 $6 $5 Non-Guaranteed Portion of SBA Guaranteed Portion of SBA Franchise Equipment
Slide 22: Criticized and Classified Loans
Criticized and Classified Loans ($ in millions) 22 Commercial Real Estate(1) Commercial & Industrial(1) Special Mention Substandard Accruing Substandard Non-accruing and Doubtful 12/31/19 12/31/20 12/31/21 12/31/22 06/30/23 $— $100 $200 $300 $400 $500 $600 $700 $800 $900 $1,000 12/31/19 12/31/20 12/
Slide 23: Asset Quality - Delinquencies
Asset Quality - Delinquencies ($ in millions) 23 Commercial(1) CRE 12/31/19 12/31/20 12/31/21 12/31/22 06/30/23 $— $20 $40 $60 $80 $100 Residential(2) 12/31/19 12/31/20 12/31/21 12/31/22 06/30/23 $— $20 $40 $60 $80 $100 30-59 Days PD 60-89 Days PD 90 Days+ PD 12/31/19 12/31/20 12/31/21 12/31/22 06/3
Slide 24: Residential Portfolio Overview
Residential Portfolio Overview At June 30, 2023 24 Residential Loan Product Type FICO Distribution(1) Breakdown by LTV 1. Excludes government insured residential loans. FICOs are refreshed routinely. LTVs are typically based on valuation at origination Prior 20% 2019 4% 2020 13%2021 43% 2022 16% 202
Slide 25: Investment Portfolio
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Slide 26: High Quality, Short-Duration Securities Portfolio
High Quality, Short-Duration Securities Portfolio ($ in millions) December 31, 2022 March 31, 2023 June 30, 2023 Portfolio Net Unrealized Loss Fair Value Net Unrealized Loss Fair Value Net Unrealized Loss Fair Value US Government and Agency $ (146) $ 2,780 $ (128) $ 2,742 $ (132) $ 2,686 Private lab
Slide 27: High Quality, Short-Duration Securities Portfolio
High Quality, Short-Duration Securities Portfolio At June 30, 2023 Strong credit enhancement levels Private Label RMBS Subordination Wtd. Avg. Stress Scenario LossRating Min Max Avg. AAA 3.0 88.9 17.6 2.3 AA 19.5 33.7 23.9 5.3 A 24.9 26.6 25.7 5.4 Wtd. Avg. 4.1 85.3 18.0 2.5 Private Label CMBS Subor
Slide 28: Liquidity
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Slide 29: Ample Liquidity Coverage of Uninsured Deposits
Ample Liquidity Coverage of Uninsured Deposits ($ in millions) 29 Insured Deposits Total Deposits at June 30, 2023 $ 25,839 Estimated Uninsured Deposits $ 11,841 Less: Collateralized deposits (2,830) Less: Affiliate deposits (239) Adjusted Uninsured Deposits $ 8,772 Estimated Insured and Collaterali
Slide 30: Available Liquidity
Available Liquidity ($ in millions) 30 Same Day Available Liquidty $9,415 $14,673 $887 $301 $2,919 $4,554 $4,568 $8,947 $1,041 $871 Cash FHLB Capacity Capacity at the Fed Unencumbered Securities 03/31/23 06/30/23
Slide 31: Non-GAAP Financial Measures
Non-GAAP Financial Measures 31
Slide 32: Non-GAAP Financial Measures
Non-GAAP Financial Measures 32 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 c