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Two community banks Community Bankers Trust in Richmond, Va., and Charter Financial in West Point, Ga. have reached early terminations of loss-share agreements with the Federal Deposit Insurance Corp.
September 10 -
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 -
BankUnited issued a press release confirming rumors that it did in fact engage an investment bank to find a possible buyer for the company, but has opted to stay independent.
January 19
BankUnited in Miami Lakes, Fla., will book a $50 million income-tax benefit in the third quarter.
The one-time benefit is based on Internal Revenue Service guidance concerning BankUnited's ability to claim additional tax losses for 2014 and this year, as well as in future years, for assets acquired from the Federal Deposit Insurance Corp., according to a
The $21 billion-asset BankUnited did not specify which assets will generate the income-tax benefit, though Keefe, Bruyette & Woods analyst Brady Gailey said in a research note that it applies to the company’s FDIC loss-share agreement. BankUnited was formed in 2009 by private-equity investors to buy the assets of the original BankUnited, which had failed.
BankUnited also did not specify how the benefit will affect third-quarter earnings or future results. Gailey estimated in his note that the benefit will increase third-quarter earnings by 48 cents a share.
