BankUnited Financial Corp. of Coral Gables, Fla., said Monday that its second-quarter earnings rose 13% from a year earlier, to $13.6 million.
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The $9.3 billion-asset company said robust loan growth was the main reason for the increase. Originations for the three months that ended March 31 were $1.1 billion, 38% more than a year earlier.
BankUnited sold many of those loans on the secondary market, so noninterest income rose 53% year over year, to $7.8 million.
Deposits rose 18%, to $4 billion, and non-interest-bearing checking account deposits rose 32%, to $310 million.
Noninterest expense rose 21%, to $4.4 million. BankUnited said the opening of three branches on Florida's east coast caused much of the increase.
