Florida bank failures – take advantage of public companies
Posted on December 31, 2010
Florida bank collapses – firms swoop in
Florida bank failures – all the companies take advantage of
$ 13 billion BankUnited closed in biggest failure of year. Florida thrift bought by Wilbur Ross, Carlyle Investment, Blackstone Capital and other private firms.
130 billion in assets of BankUnited closed, its biggest banks this year bankruptcy. Florida Savings Bank is Wilbur Ross, Carlyle Investment, Blackstone Capital and other private companies jointly acquired.
By Tami Luhby, CNNMoney.com senior writer
Last Updated: May 21, 2009: 7:29 PM ET
NEW YORK (CNNMoney.com) – A consortium of private equity firms has acquired BankUnited FSB in Florida after the savings and loan was shut down by federal regulators Thursday.
by a number of private equity companies, a consortium of Florida acquired BankUnited FSB, the federal regulators on Thursday before the close of the deposits and bank loans.
The 34th bank to fail this year and the largest so far, BankUnited (BKUNA) had $ 12.8 billion in assets, $ 8.6 billion in deposits and 85 branches. The new institution will be named BankUnited.
BankUnited (BKUNA) is the first year, 34 failed banks, is also one of the largest this year. It has 128 billion in assets, 86 billion in deposits and 85 branches. New organization will be named BankUnited.
Similar to a deal it did with IndyMac, the California mortgage bank that failed last July, the Federal Deposit Insurance Corp. will share in losses on about $ 10.7 billion in assets. The bank’s new owners will inject $ 900 million in new capital into the Coral Gables, Fla.-based institution.
the Federal Deposit Insurance Corporation (FDIC) will share about 107 billion dollars in property losses, which with its previous similar deals with IndyMac, IndyMac is a California mortgage bank, last year’s July bankruptcy. BankUnited (BKUNA), this will be the new owner of the state of Florida Coral Gables-based organizations into the new capital 900 million U.S. dollars.
The FDIC estimates it will take a $ 4.9 billion hit to its deposit insurance fund.
the Federal Deposit Insurance Corporation to estimate the deposit insurance fund will be spending 4.9 billion blow.
Investors include WL Ross