The Clock is Ticking for BankUnited
Reprinted with permission from Reuters Dealzone. By Paritosh Bansal Some people thought Florida lender BankUnited would be sold months ago as regulators fretted over its health amid the housing downturn. The Federal Deposit Insurance Corp tends to take over banks on Fridays as it gives them the weekend to put an institution’s business in order and re-open it under new management by Monday. So the question was, is this the Friday? The government has given BankUnited some leeway to try to work out a deal. That flexibility may be because the bank has some $13 billion of assets, and disposing of a bank that big could result in a real hit to the FDIC’s insurance fund, Raymond James analyst Michael Rose told Reuters in February.
21 May 2009•1 min read
