BankUnited: Difference between revisions
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{{redirect|BKU|the language with the code|Buhid language}} |
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{{Infobox company |
{{Infobox company |
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| name = BankUnited, Inc. |
| name = BankUnited, Inc. |
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| logo = File:BankUnited_logo.png |
| logo = File:BankUnited_logo.png |
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| ⚫ | |||
| type = Public |
| type = Public |
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| traded_as = {{NYSE|BKU}} |
| traded_as = {{NYSE|BKU}} |
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| genre = |
| genre = |
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| fate = |
| fate = |
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| predecessor = BankUnited Financial Corporation |
| predecessor = BankUnited Financial Corporation |
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| successor = |
| successor = |
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| foundation = {{start date| |
| foundation = {{start date|2009}} |
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| founder = |
| founder = |
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| defunct = |
| defunct = |
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| location = |
| location = |
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| locations = |
| locations = |
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| area_served = |
| area_served = Florida, Tri-state market of New York, New Jersey and Connecticut |
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| key_people = |
| key_people = John A. Kanas (Chairman) |
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Rajinder P. Singh |
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(President & CEO) |
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Thomas M. Cornish (Chief Operating Officer) |
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Leslie Lunak (Chief Financial Officer) |
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| net_income = |
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| aum = |
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| assets = $ |
| assets = $28 billion |
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| equity = |
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| owner = |
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| 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"/> |
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'''BankUnited, Inc.''', with total consolidated assets of $27.9 billion at December 31, 2016, is a bank holding company with one wholly-owned subsidiary, BankUnited, collectively, the Company. BankUnited, a national banking association headquartered in Miami Lakes, Florida, provides a full range of banking services to individual and corporate customers through 94 banking centers located in 15 Florida counties and 6 banking centers in the New York metropolitan area. The Bank also provides certain commercial lending and deposit products on a national platform. The Company endeavors to provide, through experienced lending and relationship banking teams, personalized customer service and offers a full range of traditional banking products and services to both commercial and retail customers.<ref name=":0">{{Cite web|url=http://ir.bankunited.com/phoenix.zhtml?c=89487&p=irol-newsArticle&ID=2239526|title=BankUnited Inc : Investor Relations - News Release|website=ir.bankunited.com|access-date=2017-08-03}}</ref> |
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'''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 = https://www.wsj.com/articles/SB124294168567644901 | 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> |
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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}}</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" /> On February 2, 2011, the Company completed its IPO.<ref name=":1" /> |
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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 }} |
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Today, BankUnited focuses on the financial needs of growing companies and their executives, consumers and commercial and middle-market businesses in the markets it serves. 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> |
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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"/> |
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For more information about banking services or branch locations, please call BankUnited’s Client Care Center at 1-877-779-2265.<ref name=":2" /> |
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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> |
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[[Watsco Center]] is so renamed due to naming rights being sold by the [[University of Miami]]. |
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==References== |
==References== |
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{{Reflist}} |
{{Reflist}} |
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{{Blackstone Companies}} |
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{{Carlyle Group}} |
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[[Category:Companies listed on the New York Stock Exchange]] |
[[Category:Companies listed on the New York Stock Exchange]] |
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Revision as of 20:48, 3 August 2017
| File:BankUnited logo.png | |
| Company type | Public |
|---|---|
| NYSE: BKU | |
| Industry | Financial services |
| Predecessor | BankUnited Financial Corporation |
| Founded | 2009 |
| Headquarters | , |
Area served | Florida, Tri-state market of New York, New Jersey and Connecticut |
Key people | John A. Kanas (Chairman)
Rajinder P. Singh (President & CEO) Thomas M. Cornish (Chief Operating Officer) Leslie Lunak (Chief Financial Officer) |
| Total assets | $28 billion |
| Website | www.bankunited.com |
BankUnited, Inc., with total consolidated assets of $27.9 billion at December 31, 2016, is a bank holding company with one wholly-owned subsidiary, BankUnited, collectively, the Company. BankUnited, a national banking association headquartered in Miami Lakes, Florida, provides a full range of banking services to individual and corporate customers through 94 banking centers located in 15 Florida counties and 6 banking centers in the New York metropolitan area. The Bank also provides certain commercial lending and deposit products on a national platform. The Company endeavors to provide, through experienced lending and relationship banking teams, personalized customer service and offers a full range of traditional banking products and services to both commercial and retail customers.[2]
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.[3] 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.[2] On February 2, 2011, the Company completed its IPO.[3]
Today, BankUnited focuses on the financial needs of growing companies and their executives, consumers and commercial and middle-market businesses in the markets it serves. The bank offers a broad range of online services, treasury management tools for businesses and traditional depository and lending products.[4]
For more information about banking services or branch locations, please call BankUnited’s Client Care Center at 1-877-779-2265.[4]
References
- ^ Cite error: The named reference
wsj-failswas invoked but never defined (see the help page). - ^ a b "BankUnited Inc : Investor Relations - News Release". ir.bankunited.com. Retrieved 2017-08-03.
- ^ a b "BankUnited Financial : Investor Relations - News Release". ir.bankunited.com. Retrieved 2017-08-03.
- ^ a b "BankUnited Inc : Investor Relations - Corporate Profile". ir.bankunited.com. Retrieved 2017-08-03.