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BankUnited in Miami Lakes, Fla., has sold two batches of securities in order to comply with the Volcker Rule.
December 19 -
BankUnited (BKU) in Miami Lakes, Fla., has promoted Mark Bagnoli to become its chief risk officer.
December 12 -
Shareholders of BankUnited (BKU) in Miami Lakes, Fla., are preparing to sell more than $330 million of the company's stock.
October 28 -
Loan growth helped power BankUnited (BKU) in Miami Lakes, Fla., to a 9% rise in quarterly earnings.
October 22 -
BankUnited (BKU) in Miami Lakes, Fla., is ready for some football. The $13 billion-asset company announced Thursday that it has become an "official partner" of the New York Jets.
September 12
BankUnited (BKU) in Miami Lakes, Fla.,
The $15 billion-asset company's fourth-quarter earnings fell 16% from a year earlier, to $52.4 million. Still, earnings per share of 50 cents beat the average estimate of analysts polled by Bloomberg by 4 cents.
BankUnited recorded roughly $2.3 million in securities gains after it sold certain securities in response to the Volcker Rule. The results were also aided by a reduction in the effective income tax rate resulting from changes in state tax positions and other factors.
Net-interest income fell 6% from a year earlier, to $164.3 million. The net interest margin compressed by 148 basis points from a year earlier, to 5.24%, largely because of the addition of loans that had lower yields than BankUnited's covered-loan portfolio.
Noninterest income rose 7% from a year earlier, to $5.9 million. Noninterest expense also increased 7% from the fourth quarter of 2012, to $84.2 million.
The loan-loss provision spiked to $12.5 million, compared to $1 million a year earlier. Netthe fourth quarter of 2012. Net chargeoffs rose 3% from a year earlier, to$2.4 million.
