BankUnited reported earnings in line with analysts’ estimates for the second quarter of 2015, saying it had net income of $46.6 million, or 43 cents per diluted share, for the quarter that ended June 30.
The Miami Lakes-based bank reported net income of $48.5 million for the second quarter of 2015.
Loans grew to $14.3 billion in the quarter with nearly half of new loans coming from commercial real estate. BankUnited also reported $21.4 billion in total assets.
But South Florida’s biggest bank has said it will back away from lending in the Miami-area, according to a report from the South Florida Business Journal.
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On a conference call with investors last week, bank chairman, president and CEO John Kanas said that BankUnited has “backed away a little bit particularly in the South Florida, East Coast area of Miami from some of the larger credits as they've come back for renewal and there's more pricing competition and more term competition. … We backed out of a couple of deals that we thought were too thin for us and let them go,” according to SFBJ.
BankUnited has a strong national reputation. Earlier this week Bank Director magazine ranked BankUnited as the sixth best mid-sized bank (those with assets between $5 billion and $50 billion) in the country.