BankUnited Responds to Erroneous Report.CORAL GABLES Coral Gables, city (1990 pop. 40,091), Miami-Dade co., SE Fla., SW of Miami; inc. 1925. Founded at the height of the Florida land boom, Coral Gables is a noted planned city, with tree-lined boulevards and Mediterranean-style buildings. , Fla. -- BankUnited Financial Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BKUNA) responded to a highly erroneous report issued regarding participation in certain August 2005 loan syndications Loan Syndication The process of involving numerous different lenders in providing various portions of a loan. Notes: Mainly used in extremely large loan situations, syndication allows any one lender to provide a large loan while maintaining a more prudent and manageable to EH/Transeastern in Broward County, Florida Broward County is a county located in the U.S. state of Florida. As of 2000, the population is 1,623,018; this makes it the second most populated county in the state. According to 2006 U.S. Census estimates, its population had grown to 1,787,636 [1]. . The total of these syndications to approximately 40 lenders was $675 million. BankUnited Financial Corporation has the following statement: BankUnited's total outstanding participation balance in senior secured loans is $14 million to EH/Transeastern. At this time BankUnited anticipates no loss on these loans. In addition, BankUnited has a $3 million participation in a senior mezzanine loan A mezzanine loan is a relatively large loan, typically unsecured (ie., not backed by a pledging of assets) or with a deeply subordinated security structure (e.g., third lien on the property but non-recourse vis-a-vis the borrower). to this entity. At this time BankUnited anticipates no significant loss on this loan. About BankUnited BankUnited Financial Corp. (NASDAQ:BKUNA) is the holding company for BankUnited FSB (FrontSide Bus) See system bus. FSB - front side bus , the largest banking institution headquartered in Florida. With assets of $12.9 billion as of June 30, 2006, BankUnited serves customers in 11 Florida counties through 75 branches. BankUnited provides a full spectrum of consumer and commercial banking services, mortgage and loan products, and investment and financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against services. The company's online banking products can be accessed through www.bankunited.com. For additional information, call (877) 779-2265. Forward-Looking Statements This press release, and the presentation to which it refers, may contain certain forward-looking statements, which are based on management's expectations regarding factors that may impact the Company's earnings and performance in future periods. Words and phrases Words and Phrases® A multivolume set of law books published by West Group containing thousands of judicial definitions of words and phrases, arranged alphabetically, from 1658 to the present. such as: "will likely result," "expect," "will continue," "anticipate," "estimate," "project," "believe," "intend," "should," "may," "can," "could," "plan," "target" and similar expressions are intended to identify "forward-looking statements." Actual results or performance could differ from those implied or contemplated by such statements. Factors that could cause future results and performance to vary materially from current management expectations include, but are not limited to, general business and economic conditions; fiscal and monetary policies; war and terrorism; changes in interest rates; deposit flows; loan demand and real estate values; competition with other providers of financial products and services; the issuance or redemption of additional company equity or debt; volatility in the market price of our common stock; changes in accounting principles, policies or guidelines; changes in laws or regulation; reliance on other companies for products and services; and other economic, competitive, servicing capacity, governmental, regulatory and technological factors affecting the company's operations, pricing, products and delivery of services. |
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