BankUnited Financial Corporation (NASDAQ:BKUNA), parent company of
BankUnited FSB, announced that it received notification today that the
Office of Thrift Supervision has reclassified the Bank’s
regulatory capital status from well-capitalized to adequately
capitalized although the Bank’s capital ratios
exceed the statutory threshold for well-capitalized institutions. As a
result, the Bank is subject to restrictions on accepting brokered
deposits.
Forward-Looking Statements
This press release may contain certain forward-looking statements. Such
forward-looking statements are within the meaning of that term in
Section 27A of the Securities Act of 1933, as amended (the "Securities
Act”), and Section 21E of the Securities
Exchange Act of 1934, as amended (the "Exchange
Act”). Words and phrases such as: "will
likely result,”
"expect,”
"will continue,”
"anticipate,”
"estimate,”
"project,”
"believe,”
"intend,”
"will,”
"should,”
"would,”
"could,”
"may,”
"can,”
"plan,”
"target”
and similar expressions are intended to identify "forward-looking
statements” within the meaning of the Private
Securities Litigation Reform Act of 1995.
Forward-looking statements may include, but are not limited to,
discussions concerning national and regional business and economic
conditions, fiscal and monetary policies; natural events such as
hurricanes; changes in interest rates; a reduced demand for credit;
reduced access to borrowings and deposits; a decrease in deposit flows,
loan demand or deposit or other customers; risks associated with
residential mortgage lending or the slowdown in the housing market,
including, without limitation, continued deterioration in credit
quality, reduced real estate values and slower sales, interest rate
changes, payment elections by borrowers of option ARM loans and
deterioration in the ability of borrowers to repay their loans and other
debts; competition from other financial service companies in our
markets; potential or actual litigation; potential or actual actions by
regulators, including, without limitation, new, changed or increased
regulatory restrictions and the ability to comply with such
restrictions; changes in regulations, laws, policies or standards,
including, among others, changes in accounting standards, guidelines and
policies; the outcome of ongoing tax audits; the issuance, redemption or
deferral of payments on company debt or equity; the concentration of
operations in Florida; 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; unfavorable conditions in the capital markets; the
possible loss of key personnel; the possible inability to successfully
implement its agreement with regulators, strategic initiatives, and
other economic, competitive, servicing capacity, governmental,
regulatory and technological factors affecting the company’s
operations, price, products and delivery of services. Neither the
success, timing nor terms of the Company’s
capital raising efforts are certain. The Company is not able to make any
assurances, including but not limited to any assurances that the
increased rate of sale of foreclosed homes will continue in future
periods, that the percentage of unsold homes in escrow or under
negotiation will be representative of the number or percentage of homes
sold in future periods, that the quality of the Company’s
loan portfolio will continue in future periods, that the Company will
have adequate liquidity in future periods, or that the Company will be
considered "well-capitalized”
in future periods. The Company does not update forward-looking
statements to reflect the impact of circumstances or events that arise
after the date the forward-looking statements were made, except as
required by law. Please refer to the documents that BankUnited Financial
Corporation files periodically with the SEC, such as the Form 10-K for
the 2007 fiscal year, and reports on Form 10-Q for the fiscal quarter
ended June 30, 2008, which contain additional important 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.
