BankUnited Financial Corp. reported net income of 1 cent per diluted share for the quarter ending Dec. 31, down from 13 cents a year earlier, and said it is "reviewing all lines of business."

The thrift company, with $3.8 billion of assets, said there may be a "significant charge" to income for the March quarter because it might discontinue certain lines of business.

"It appears that the unanticipated prolonged flatness of the yield curve as well as the volatility in interest rates has produced unusually high levels of prepayments in adjustable rate mortgages," chairman Alfred R. Camner said.

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