BankUnited Financial Corporation (NASDAQ:BKUNA), parent company of
BankUnited FSB, today announced that it is pursuing alternative sources
of capital and strategic opportunities in addition to those previously
announced.
The Company held a special meeting of stockholders at which stockholders
approved an amendment to the company's Articles of Incorporation to
increase the authorized shares of Class A Common Stock from 200,000,000
shares to 500,000,000 shares.
About BankUnited
BankUnited Financial Corp. is the holding company for BankUnited FSB,
the largest banking institution headquartered in Florida, based on
assets. At March 31, 2008, BankUnited had assets of $14.3 billion.
Serving customers through 86 branches in 13 coastal counties, including
Miami-Dade, Broward, Palm Beach, Martin, St. Lucie, Collier, Charlotte,
Manatee, Hillsborough, Sarasota, Lee, Indian River and Pinellas,
BankUnited offers a full spectrum of consumer and commercial banking
products and services, including online products that can be accessed
through www.bankunited.com. For
additional information, call (877) 779-2265.
Forward-Looking Statements
This news release 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 such as: "will," "will likely result," "expect," "will
continue," "anticipate," "estimate," "project," "believe," "intend,"
"should," "would," "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, either nationally or regionally; fiscal or monetary
policies; significant weather events such as hurricanes; changes or
fluctuations in the interest rate environment; a continuation of the
deterioration in credit quality and/or a reduced demand for credit,
including the resultant effect on our allowance for loan losses; reduced
deposit flows and loan demand; real estate values; competition from
other financial service companies in our markets; potential or actual
litigation; legislative or regulatory changes, including, among others,
changes in accounting standards, guidelines and policies; the issuance
or redemption of additional company debt or equity; the concentration of
operations in Florida, if Florida business or economic conditions
continue to decline; reliance on other companies for products and
services; the impact of war and the threat and impact of terrorism;
volatility in the market price of the company's common stock; the
company's inability to raise capital due to challenging market
conditions; and other economic, competitive, servicing capacity,
governmental, regulatory and technological factors affecting the
company's operations, price, products and delivery of services. Please
refer to the documents that BankUnited files periodically with the SEC,
such as the Form 10-K for the 2007 fiscal year, and reports on Form 10-Q
for the Dec. 31, 2007, and March 31, 2008 periods, which contain
additional important factors, including "Risk Factors," that could cause
actual results to differ from the company's current expectations and
from the forward-looking statements contained in this press release.
BankUnited Financial Corporation, Coral Gables
Investor Relations:
Susan
Greenfield, 305-569-3449
or
Corporate Communications:
Melissa
Gracey, 305-817-8117
