BankUnited, Inc. (NYSE: BKU) or (“the company”) is a ~$35 billion-asset bank holding company for BankUnited, National Association (“the bank”), headquartered in Miami Lakes, FL. Operating a “branch lite” model, BKU focuses its core commercial banking activities principally in Florida, and to a lesser degree, the greater-NYC area, Dallas, TX, and more recently, the Atlanta, GA and Jacksonville, FL markets. BKU also has a national presence through its mortgage warehouse lending business, with a related residential loan purchase program (correspondent channel). SBA lending is primarily in-footprint.
BKU reflects a diversified, reasonably granular loan portfolio with a commercial orientation (~70% C&I/CRE and 30% in residential mortgage). Leasing and equipment financing are actively in wind down phase and account for just 1% of the loan portfolio at YE25, as management has chosen to exit due to the transactional nature of the business, with some…
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