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{{Short description|Florida based regional bank}}
{{redirect|BKU|the language with the code|Buhid language}}
{{COI|date=March 2023}}
{{primary sources|date=November 2017}}
{{Infobox company
{{Infobox company
| name = BankUnited, Inc.
| name = BankUnited, Inc.
| logo = File:BankUnited_logo.png
| logo = File:BankUnited_logo.svg
| caption =
| type = Public
| type = [[Public company|Public]]
| traded_as = {{NYSE|BKU}}
| traded_as = {{NYSE|BKU}}<br>[[Russell 1000 Index]] component<br>[[List of S&P 600 companies|S&P 600]] component
| genre =
⚫
| industry = [[Financial services]]
⚫
| fate =
| products = [[Retail banking|Consumer Banking]], [[Commercial bank|Corporate Banking]]
⚫
| predecessor = BankUnited Financial Corporation
| successor =
| genre =
⚫
| fate =
| foundation = {{start date|1984}}
⚫
| predecessor = BankUnited Financial Corporation
⚫
| founder =
| defunct =
| successor =
| foundation = {{start date and age|1984}}<ref>{{Cite web |url=https://thefinancialbrand.com/16845/bankunited-rebranding/ |title=BankUnited's Brand Rebirth: From Collapse to Credibility|date=January 10, 2020}}</ref>
⚫
| location_city = [[Miami Lakes, Florida]]<ref name="wsj-fails"/>
⚫
| founder =
⚫
| location_country = [[United States]]
| location =
| defunct =
| locations =
| location =
⚫
| location_city = [[Miami Lakes, Florida]], U.S.
| area_served = South Florida, Gulf Coast, Central Florida, New York, Long Island
| locations =
| key_people = [[John Kanas]] <small>(CEO)</small><ref name="fdic-pr09072"/>
| area_served = Florida, Tri-state market of New York, New Jersey and Connecticut
⚫
| industry = [[Financial services]]
| key_people = Rajinder P. Singh
| products =
(Chairman, President & CEO)
| production =
⚫
| services =
Thomas M. Cornish (Chief Operating Officer)
| revenue =

| operating_income =
Leslie Lunak (Chief Financial Officer)
| net_income =
| aum =
| production =
⚫
| services =
| assets = $19.2 billion<ref name="fdic-pr09072"/>
| assets = {{increase}} US$ 35.4 billion (June 30, 2024)
| equity =
| owner =
| owner = [[Wilbur Ross]]<br/>[[The Blackstone Group]]<br/>[[The Carlyle Group]]<br/>[[Centerbridge Partners]]<ref name="wsj-fails"/><br/>LeFrak Organization<br/>[[Wellcome Trust]]<br/>Greenaap Investments<br/>East Rock Endowment Fund<ref name="fdic-pr09072"/>
| num_employees =
| parent =
| parent =
| divisions =
| divisions =
| subsid =
| subsid =
| footnotes =
⚫
| intl =
| caption = It's a local thing.
⚫
| location_country = [[United States]]
| homepage = [http://www.bankunited.com/ www.bankunited.com]
| homepage = [http://www.bankunited.com/ www.bankunited.com]
| footnotes =
⚫
| intl =
}}
}}
'''BankUnited''' is a [[savings and loan association]] based in [[Miami Lakes, Florida]]. It was seized by U.S. financial regulators and immediately handed over to a new [[holding company]], BankUnited, Inc., which trades on the [[New York Stock Exchange]] under the symbol {{NyseSymbol|BKU}}, on 21 May 2009, in the second largest bank failure of the [[Financial crisis of 2007–2010]]. The latest information before the bankruptcy credited BankUnited with about 2.1% of all deposits in Florida, ranking it 8th in the state.<ref name="wsj-fails">{{cite news | url = http://online.wsj.com/article/SB124294168567644901.html | title = BankUnited Fails in Year's Biggest Bust | first = Damian | last = Paletta |author2=Joe Bel Bruno | date = 2009-05-22 | page = A1 | work = [[The Wall Street Journal]] | location = New York City | publisher = [[Dow Jones & Company]] | issn = 0099-9660 | accessdate = 2009-10-04 }}</ref>


'''BankUnited, Inc.''', with total assets of $35.4 billion at June 30, 2024 is the bank holding company of BankUnited, N.A., a national bank headquartered in Miami Lakes, Florida that provides a full range of banking and related services to individual and corporate customers through banking centers located in the state of Florida, New York metropolitan area and Dallas, Texas and a comprehensive suite of wholesale products to customers through an Atlanta office focused on the Southeast region. BankUnited also offers certain commercial lending and deposit products through national platforms.
BankUnited was founded in 1984 and specialized in nonresident alien mortgages for foreigners wanting to buy Florida real estate; by June 2008 this type of mortgage accounted for 11.4% of the bank's loans.<ref name="wsj-fails"/> At the time, it was known as BankUnited, FSB and a subsidiary of '''BankUnited Financial Corporation''' ("BUFC"), which filed [[Chapter 11 bankruptcy]] as a result of the above seizure. BUFC's last known symbol was "'''BKUNQ'''" on [[OTC Markets Group|OTC Pink]].{{Citation needed|date=January 2014 }}


BankUnited, Inc. was organized by a management team led by John A. Kanas and was initially capitalized with $945.0 million by a group of investors including W.L. Ross, Blackstone Group, The Carlyle Group and Centerbridge Partners.<ref name=":1">{{Cite web|url=http://ir.bankunited.com/phoenix.zhtml?c=89487&p=irol-newsArticle_Print&ID=1559034|title=BankUnited Financial : Investor Relations - News Release|website=ir.bankunited.com|access-date=2017-08-03}}{{Dead link|date=October 2019 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> On May 21, 2009, BankUnited acquired substantially all of the assets and assumed all of the non-brokered deposits and substantially all other liabilities of BankUnited, FSB, from the FDIC in the FSB Acquisition.<ref name=":0">{{Cite web|url=http://ir.bankunited.com/news-releases/news-release-details/bankunited-inc-reports-2018-results|title=BankUnited Inc : Investor Relations - News Release|website=ir.bankunited.com|access-date=2017-08-03}}</ref> On February 2, 2011, the Company completed its IPO.<ref name=":1" />
After being told by the FDIC in April 2009 to increase its capital or sell itself, then failing to succeed at either, the bank portion of BankUnited was seized by the [[Office of Thrift Supervision]] on 21 May 2009 and handed over to the [[Federal Deposit Insurance Corporation]].<ref name="wsj-fails"/> The FDIC immediately transferred control to a [[private equity]] group led by former [[North Fork Bank]] president [[John Kanas]].<ref name="fdic-pr09072">{{cite press release | url = http://www.fdic.gov/news/news/press/2009/pr09072.html | title = BankUnited Acquires the Banking Operations of BankUnited, FSB, Coral Gables, Florida | date = 2009-05-21 | publisher = [[Federal Deposit Insurance Corporation]] | accessdate = 2009-10-04 }}</ref> The new BankUnited assumed $12.7 billion in assets and $8.3 billion in nonbrokered deposits. The new holding company is owned by [[W.L. Ross]]; [[Blackstone Group]]; [[The Carlyle Group]]; [[Centerbridge Partners]];<ref name="wsj-fails"/> LeFrak Organization, Inc.; The [[Wellcome Trust]]; [[Greenaap Investments]] Ltd.; and [[East Rock Endowment Fund]].<ref name="fdic-pr09072"/>


The bank offers a broad range of online services, treasury management tools for businesses and traditional depository and lending products.<ref name=":2">{{Cite web|url=http://ir.bankunited.com/phoenix.zhtml?c=89487&p=irol-IRHome|title=BankUnited Inc : Investor Relations - Corporate Profile|website=ir.bankunited.com|access-date=2017-08-03}}</ref>
In 2011, BankUnited acquired Herald National Bank to expand into [[New York City]].<ref>[https://dealbook.nytimes.com/2011/06/02/bankunited-buys-new-york-bank/ BankUnited Buys a New York Bank]</ref>


==External links==
[[Watsco Center]] is so renamed due to naming rights being sold by the [[University of Miami]].
{{Finance links
| symbol = BKU
| sec_cik = BKU
| google = NYSE:BKU
| yahoo = BKU
| bloomberg = BKU:US
| reuters = BKU
| nasdaq = BKU
}}
* [http://www.bankunited.com/ Official Website]
{{Portal|Banks}}


==References==
==References==
{{Reflist}}
{{Reflist}}

{{Blackstone Companies}}
{{Carlyle Group}}
{{Carlyle Group}}
{{Authority control}}


[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Banks established in 2009]]
[[Category:Banks established in 1984]]
[[Category:Banks based in Florida]]
[[Category:Banks based in Florida]]
[[Category:Coral Gables, Florida]]
[[Category:Companies that filed for Chapter 11 bankruptcy in 2009]]
[[Category:Companies that have filed for Chapter 11 bankruptcy]]
[[Category:Re-established companies]]
[[Category:Re-established companies]]
[[Category:Private equity portfolio companies]]
[[Category:Private equity portfolio companies]]
[[Category:Companies based in Miami]]
[[Category:Companies based in Miami]]
[[Category:Carlyle Group]]
[[Category:The Carlyle Group]]

Latest revision as of 13:02, 19 July 2024

BankUnited, Inc.
Company typePublic
NYSE: BKU
Russell 1000 Index component
S&P 600 component
IndustryFinancial services
PredecessorBankUnited Financial Corporation
Founded1984; 41 years ago (1984)[1]
Headquarters
Miami Lakes, Florida, U.S.
,
United States
Area served
Florida, Tri-state market of New York, New Jersey and Connecticut
Key people
Rajinder P. Singh

(Chairman, President & CEO)

Thomas M. Cornish (Chief Operating Officer)

Leslie Lunak (Chief Financial Officer)
ProductsConsumer Banking, Corporate Banking
Total assetsIncrease US$ 35.4 billion (June 30, 2024)
Websitewww.bankunited.com

BankUnited, Inc., with total assets of $35.4 billion at June 30, 2024 is the bank holding company of BankUnited, N.A., a national bank headquartered in Miami Lakes, Florida that provides a full range of banking and related services to individual and corporate customers through banking centers located in the state of Florida, New York metropolitan area and Dallas, Texas and a comprehensive suite of wholesale products to customers through an Atlanta office focused on the Southeast region. BankUnited also offers certain commercial lending and deposit products through national platforms.

BankUnited, Inc. was organized by a management team led by John A. Kanas and was initially capitalized with $945.0 million by a group of investors including W.L. Ross, Blackstone Group, The Carlyle Group and Centerbridge Partners.[2] On May 21, 2009, BankUnited acquired substantially all of the assets and assumed all of the non-brokered deposits and substantially all other liabilities of BankUnited, FSB, from the FDIC in the FSB Acquisition.[3] On February 2, 2011, the Company completed its IPO.[2]

The bank offers a broad range of online services, treasury management tools for businesses and traditional depository and lending products.[4]

[edit]
  • Business data for BankUnited:
  • Official Website

References

[edit]
  1. ^ "BankUnited's Brand Rebirth: From Collapse to Credibility". January 10, 2020.
  2. ^ a b "BankUnited Financial : Investor Relations - News Release". ir.bankunited.com. Retrieved 2017-08-03.[permanent dead link‍]
  3. ^ "BankUnited Inc : Investor Relations - News Release". ir.bankunited.com. Retrieved 2017-08-03.
  4. ^ "BankUnited Inc : Investor Relations - Corporate Profile". ir.bankunited.com. Retrieved 2017-08-03.
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