BankUnited Financial Corp. in Coral Gables, Fla., which is under a regulatory order to raise capital or risk seizure, nearly doubled its estimated loss for its fiscal fourth quarter, which ended Sept. 30, to $607 million.

The $14.2 billion-asset BankUnited said in a Securities and Exchange Commission filing late Tuesday that it was amending its previously estimated loss of $327 million for the quarter. It also estimated its loss for the full fiscal year at $816 million.

Judging by these preliminary results, BankUnited said its Tier 1 risk-based capital ratio was 3.4% on Sept. 30, and its total risk-based capital ratio was 7.1% — well below the 7% and 14% ratios the company is required to meet under the Office of Thrift Supervision order.

"The company continues negotiations to raise capital and restructure its balance sheet to comply with the ratios set forth in the order," BankUnited officials said in the filing. "If such negotiations are not successful, it is highly unlikely that we will be able to continue as a going concern."

This month American Banker reported that Vanquish Capital Group LLC in Delray Beach, Fla., was arranging a deal to put BankUnited's bad assets in a structured vehicle and then buy control of the company.

BankUnited said it would not file its annual report until the end of next month.

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