BankUnited
{{Infobox company
| name = BankUnited, Inc.
| logo = File:BankUnited_logo.png
| type = Public
| traded_as = NYSE: BKU
| genre =
| fate =
| predecessor = BankUnited Financial Corporation
| successor =
| foundation = 1984
| founder =
| defunct =
| location_city = Miami Lakes, Florida[1]
| location_country = United States
| location =
| locations =
| area_served = South Florida, Gulf Coast, Central Florida, New York, Long Island
| key_people = Rajinder Singh (CEO)Cite error: A <ref> tag is missing the closing </ref> (see the help page).
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] 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 Pink.[citation needed]
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]
In 2011, BankUnited acquired Herald National Bank to expand into New York City.[3]
Watsco Center is so renamed due to naming rights being sold by the University of Miami.
References
- ^ a b c d Cite error: The named reference
wsj-failswas invoked but never defined (see the help page). - ^ a b "BankUnited Acquires the Banking Operations of BankUnited, FSB, Coral Gables, Florida" (Press release). Federal Deposit Insurance Corporation. 2009-05-21. Retrieved 2009-10-04.
- ^ BankUnited Buys a New York Bank