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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"/>
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"/>


'''BankUnited Financial Corporation''', the old publicly-held holding company stripped of its bank, declared [[Chapter 11 bankruptcy]] and, {{as of|2009|10|lc=on}}, trades as {{Pinksheets|BKUNQ}}.
'''BankUnited Financial Corporation''', the old publicly-held holding company stripped of its bank, declared [[Chapter 11 bankruptcy]] and, {{as of|2009|10|lc=on}}, trades as {{OTCPink|BKUNQ}}.


[[BankUnited Center]] is so named due to naming rights being sold by the [[University of Miami]].
[[BankUnited Center]] is so named due to naming rights being sold by the [[University of Miami]].

Revision as of 18:06, 22 January 2012

BankUnited, Inc.
Company typePublic
NYSE: BKU
IndustryFinancial services
PredecessorBankUnited Financial Corporation
Founded1984 (1984)
Headquarters
Miami Lakes, Florida[1]
,
United States
Area served
South Florida, Gulf Coast, Central Florida
Key people
John Kanas (CEO)[2]
Total assets$12.7 billion[2]
OwnerW.L. Ross
Blackstone Group
The Carlyle Group
Centerbridge Partners[1]
LeFrak Organization
Wellcome Trust
Greenaap Investments
East Rock Endowment Fund[2]
Websitewww.bankunited.com

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 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.[1]

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.[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.[1] The FDIC immediately transferred control to a private equity group led by former North Fork Bank president John Kanas.[2] 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;[1] LeFrak Organization, Inc.; The Wellcome Trust; Greenaap Investments Ltd.; and East Rock Endowment Fund.[2]

BankUnited Financial Corporation, the old publicly-held holding company stripped of its bank, declared Chapter 11 bankruptcy and, as of October 2009, trades as OTC Pink: BKUNQ.

BankUnited Center is so named due to naming rights being sold by the University of Miami.

References

  1. ^ a b c d e f Paletta, Damian (2009-05-22). "BankUnited Fails in Year's Biggest Bust". The Wall Street Journal. New York City: Dow Jones & Company. p. A1. ISSN 0099-9660. Retrieved 2009-10-04. {{cite news}}: Unknown parameter |coauthors= ignored (|author= suggested) (help)
  2. ^ a b c d e "BankUnited Acquires the Banking Operations of BankUnited, FSB, Coral Gables, Florida" (Press release). Federal Deposit Insurance Corporation. 2009-05-21. Retrieved 2009-10-04.
  • With the banks in such disarray it is nice to know that the army has wide array of jobs going CPOL employment – Civilian Personnel On-Line
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