BankUnited Q3 Profit, Interest Income Rise

(RTTNews) - BankUnited, Inc. (BKU) Tuesday reported net income of $61.5 million, or $0.81 per share for the third quarter, higher than $47.0 million, or $0.63 per share in the same quarter a year ago.

On average, 10 analysts expected the company to report earnings of $0.74 per share. Analysts' estimates typically exclude special items.

Net interest income before provision for credit losses increased to $234.1 million from $214.84 million last year.

Provision for credit losses declined to $9.25 million from $33.05 million in the previous year.

Non-performing loans totaled $224.5 million or 0.92% of total loans at September 30, compared to $173.5 million or 0.70% of total loans at June 30.