Company Profile
BankUnited, Inc. (NYSE: BKU) or (“the company”) is a $35.4 billion asset bank holding company for BankUnited, National Association (“the bank”), headquartered in Miami Lakes, FL, which operates a “branch lite” model (55 branches) that is complimented by a national title solution deposit platform. The company 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 market. BKU also has a national presence with its commercial finance subsidiaries (Pinnacle and BFG), mortgage warehouse lending, residential loan purchase program (correspondent channel), and SBA lending operations are in footprint.
BKU maintains a diversified, granular loan portfolio with a commercial focus at ~70% in commercial and ~30% in residential real estate. Leasing and equipment financing account for ~2% of the loan portfolio at 2Q24 and management is de-emphasizing this segment due to the…