-
John Kanas released a statement on Tuesday re-asserting that BankUnited Inc.'s planned acquisition of Herald National Bank jibes with his noncompete provisions with Capital One Bank.
July 19 -
When Iberiabank lowered the amount of money it expects to receive in FDIC loss-sharing, it meant some credits are performing better than expected — and that some losses might show up after the FDIC agreement runs out.
April 15 -
Three years after a group of private equity firms bought BankUnited out of receivership, industry observers wonder if the deal really paved the way for other firms interested in consolidating banks.
May 30 -
BankUnited, the Florida bank led by John Kanas, has hired two of his former colleagues at Capital One — Joe Roberto and Kelly Sheehan — to run its nascent operation in the Big Apple.
March 19 -
CEO John Kanas is letting rivals know in advance that he's coming to New York — and that he's targeting their employees.
February 13
BankUnited (BKU) in Miami Lakes, Fla., reported solid growth in interest income as it began its expansion into the New York City market.
The $12.7 billion-asset company announced Wednesday a first-quarter profit of $48.2 million, 4% lower than the first quarter of 2012, when it recorded a $5.3 million one-time gain related to its
But net interest income rose 12%, to $153.8 million, thanks to an increase in lending and a decrease in borrowing costs. Net interest margin declined by 16 basis points but remained relatively high, at 5.93%.
Noninterest income fell 51%, to $17.8 million, as the company recorded charges tied to its
These charges were partly offset by a nearly $12 million increase in income from the loans, to $19.2 million, and a 9% rise in fee and service-charge income, to $3.3 million.
BankUnited's provision for loan losses rose 37%, to $12 million, and chargeoffs increased to $11.1 million, more than $9 million higher than the first quarter of 2012.
Noninterest expense fell 4%, to $80.5 million, as foreclosure expense fell 81%, to $505,000.
BankUnited began its push into the New York City market in the first quarter, opening branches in Manhattan and on Long Island in March. It opened a second Manhattan branch on April 15 and expects to open a third later in the month.
Last month, Chairman and Chief Executive John Kanas