BKUNA Bankunited Fin Corp (MM)

BankUnited Financial Corp. (NASDAQ:BKUNA) (the �Company�) and certain of its affiliates announced today that they have commenced proceedings under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Florida. The filing of the bankruptcy cases was prompted by the appointment of the Federal Deposit Insurance Corporation (�FDIC�) as receiver for the Company�s banking operations, BankUnited FSB (the �Bank�), by the Office of Thrift Supervision (�OTS�). As receiver, the FDIC�by operation of law succeeds to �all rights, titles, powers, and privileges of the insured depository institution, and of any stockholder, member, accountholder, depositor, officer, or director of such institution with respect to the institution and the assets of the institution; and�title to the books, records, and assets of any previous conservator or other legal custodian of such institution.� 12 U.S.C. 1821(d)(2). Given the financial condition of the Bank, it is unlikely that the Company will be entitled to any distribution from the FDIC as receiver for the Bank.

About the Company

BankUnited Financial Corp. is a Florida corporation. It is the former holding company for BankUnited FSB,�now in receivership.

Forward Looking Statements

This notice contains certain forward-looking statements, as defined in Section�27A of the Securities Act of 1933, as amended (the �Securities Act�), and Section�21E of the Securities Exchange Act of 1934, as amended (the �Exchange Act�). Forward-looking statements are statements that are not historical facts and, without limitation, include predictions, forecasts, indications or discussions of future results, performances or achievements. Certain statements including words such as: �will likely result,� �expect,� �will continue,� �anticipate,� �estimate,� �project,� �believe,� �intend,� �will,� �should,� �would,� �could,� �may,� �can,� �plan,� �target� and similar expressions, are intended to be �forward-looking statements� within the meaning of the Private Securities Litigation Reform Act of 1995 (�PSLRA�). In particular, statements relating to future actions, trends in the Company�s business, prospective services or products, future performance or financial results and the outcome of contingencies, such as legal proceedings, are considered forward-looking statements. The Company claims the protection afforded by the safe harbor for forward-looking statements provided by the PSLRA.

Forward-looking statements may include, but are not limited to, estimates of the Company�s 2008 fiscal year end and year-to-date 2009 financial results; discussions concerning national and regional business and economic conditions; fiscal and monetary policies; changes in interest rates; deterioration in the general economy and the credit markets; changes in policy or discretionary decisions by the FHLB, OTS, the FDIC or the Federal Reserve; a reduced demand for credit; a decrease in deposit flows, loan demand or deposits or other customers; risks associated with residential mortgage lending or the decline in the housing market, including, without limitation, continued deterioration in credit quality, reduced real estate values and slower sales, interest rate changes, payment elections by borrowers of option ARM loans and deterioration in the ability of borrowers to repay their loans and other debts; uncertainty about the effectiveness of the U.S. Treasury�s Troubled Asset Relief Program Capital Purchase Program (�TARP�); competition from other financial service companies in the Company�s markets; potential or actual actions by regulators; new, changed or increased regulatory restrictions and the ability to comply with such restrictions; the outcome of existing and any new legal proceedings against the Company, including adverse decisions in significant actions including, but not limited to, actions brought by federal and state authorities and class action cases; changes in regulations, laws, policies or standards, including, among others, changes in accounting standards, guidelines and policies; volatility in the market price of the Company�s common stock; unfavorable conditions in the capital markets; the possible loss of key personnel; the possible inability to successfully implement strategic initiatives, and other economic, competitive, servicing capacity, governmental, regulatory and technological factors affecting the Company�s operations, price, products and delivery of services; the possibility that the commercial loan, commercial real estate loan and consumer loan market may continue to deteriorate; the possible inability to successfully raise and maintain capital needed to continue operations; the outcome of tax audits; the issuance, redemption or deferral of payments on the Company�s debt or equity; the concentration of operations in Florida; reliance on other companies for products and services; and acts of terrorism, war, other man-made or natural disasters, including hurricanes, that may adversely affect the Company�s business and operations.

Actual results or performance could differ from those implied or contemplated by forward-looking statements. The Company wishes to caution readers not to place undue reliance on any forward-looking statements, which speak only as of the date made, and are not historical facts or guarantees of future performance. Other factors that could cause actual results to differ materially are: (i)�other risks and uncertainties described from time to time in the Company�s filings with the SEC; and (ii)�other risks and uncertainties that have not been identified at this time. Information in this notice is solely as of the dates, and for the periods, indicated. The Company does not undertake, and specifically disclaims any obligation, to publicly update or revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, whether as the result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in or incorporated by reference into this report might not occur.

Grafico Azioni Bankunited Fin Corp (MM) (NASDAQ:BKUNA)
Storico
Da Giu 2024 a Lug 2024

Grafico Azioni Bankunited Fin Corp (MM) (NASDAQ:BKUNA)
Storico
Da Lug 2023 a Lug 2024