BKU: Upbeat Management Commentary at Our Chicago Conference

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BKU: Upbeat Management Commentary at Our Chicago Conference

Equity Research

Flash Comment — May 14, 2026

Mid-Cap Banks

BankUnited, Inc.

Upbeat Management Commentary at Our Chicago Overweight

Conference Price Target: $55.00

Ticker BKU

Our Call Upside/(Downside) to Target 18.7%

BKU was confident that NIM will inflect in 2Q, loan growth will accelerate, and that the Price (05/14/2026) $46.32

NIDDA growth will continue through the medium term, despite increasing competition. 52 Week Range $33.06 - 52.11

We like BKU's improving fundamentals and M&A optionality. Market Cap (MM) $3,423

Source: Company Data, Wells Fargo Securities estimates, and Factset.

Initial Thoughts NA = Not Available, NC = No Change, NE = No Estimate

We like the set-up for BKU as near-term earnings should inflect from the seasonally Robert Rutschow

weakest quarter NII. Profitability should continue improving in the medium term, helped Equity Analyst | Wells Fargo Securities, LLC

Robert.Rutschow@wellsfargo.com | 212-214-5302

by NIDDA growth and loan mix shift. BKU is among the best positioned to benefit from a

more bank M&A, ranking at the top of our Bank Franchise Value model. Juan Recalde, CFA

Associate Equity Analyst | Wells Fargo Securities, LLC

Join our Bank Takeovers and Regulation w/ Lawyer Luminary Rodgin Cohen on May 26 at Juan.Recalde@wellsfargo.com | 212-214-5287

2pm ET - ask your sales representative. Mike Mayo, CFA

Equity Analyst | Wells Fargo Securities, LLC

Mike.Mayo@wellsfargo.com | 212-214-5300

NIM inflection ahead. Mgt. is confident that NIM will rebound in 2Q26 after contracting

in 1Q26 (-7bps QoQ), in line w/ historical seasonality. Trends so far in 2Q26 indicate

the NIM inflection will materialize, w/ NIDDA growth as the key tailwind. Improving loan

growth should also help.