BankUnited, Inc. Announces the Sale of Certain Investment Securities Business Wire MIAMI LAKES, Fla. -- December 18, 2013 On December 17, 2013, BankUnited, Inc. (the “Company”) (NYSE: BKU) executed the last open market sales of its Collateralized Loan Obligations (CLOs) portfolio. The amortized cost basis of the CLOs sold was approximately $431 million, comprising the Company’s entire CLO portfolio, and the sales resulted in a net loss of approximately $1.4 million. The Company also executed sales of private label Re-Remics with an amortized cost basis of approximately $119 million at an aggregate net gain of approximately $3.8 million. The sales of the CLOs and the Re-Remics were prompted by the recent release of the Volcker Rule (Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act) and its potential impact on BankUnited’s investment activities. The Company continues to evaluate its remaining investment holdings in light of the Volcker Rule. About BankUnited, Inc. BankUnited, Inc. is the bank holding company of BankUnited, N.A., a national bank headquartered in Miami Lakes, Florida with 99 branches in 15 Florida counties and 5 banking centers in the New York metropolitan area. Contact: BankUnited, Inc. Investor Relations: Leslie N. Lunak, 786-313-1698 LLunak@BankUnited.com or Corporate Communications: Mary Harris, 305-817-8117 MHarris@BankUnited.com
BankUnited, Inc. Announces the Sale of Certain Investment Securities
Press spacebar to pause and continue. Press esc to stop.