MIAMI LAKES, Fla. & GREENVILLE, S.C.--(BUSINESS WIRE)--May 1, 2015--
BankUnited, Inc. (together with its subsidiaries, “BankUnited”) (NYSE:
BKU) and CertusHoldings, Inc. (together with its subsidiaries, “Certus”)
today announced that BankUnited has completed its previously announced
acquisition of Certus’ Small Business Finance Unit in an asset purchase
The Small Business Finance Unit, consistently one of the top 20 Small
Business Administration (“SBA”) lenders in the United States,
originates, sells and services small business loans pursuant to the
SBA’s 7(a) loan program and CDC/504 loan program and the U.S.
Department of Agriculture’s Business & Industry and Community Facilities
At the closing, BankUnited acquired the Small Business Finance Unit’s
loan portfolio, which totaled approximately $245 million at closing, as
well as substantially all of its operating assets, and assumed certain
of its operating liabilities.
John A. Kanas, Chairman, President and Chief Executive Officer of
BankUnited, said, “With the successful close of this transaction, we are
thrilled to welcome the Small Business Finance team. We expect this
premier SBA lending platform to continue to thrive within the BankUnited
family just as our other national lending businesses have done.”
Leonard D. Davenport, Interim Chief Executive Officer of CertusBank,
N.A., commented, “The completion of this transaction improves
CertusBank’s liquidity and capital positions, allowing us to focus on
returning to a more traditional community banking model. BankUnited
gains a strong business and team. We sincerely thank those teammates for
their contribution to CertusBank and wish them success in the future.”
BankUnited’s legal advisors on the transaction are Cadwalader,
Wickersham & Taft LLP. Certus’ financial advisors on the transaction are
Keefe, Bruyette & Woods, Inc. and Sandler O’Neill + Partners, L.P., and
Certus’ legal advisors are Nelson Mullins Riley & Scarborough LLP.
About BankUnited, Inc.
BankUnited, Inc., with total assets of $20.0 billion at March 31, 2015,
is the bank holding company of BankUnited, N.A., a national bank
headquartered in Miami Lakes, Florida with 100 branches in 15 Florida
counties and 6 banking centers in the New York metropolitan area at
March 31, 2015.
About CertusHoldings, Inc.
CertusHoldings, Inc. is the parent company of CertusBank, N.A., a
nationally chartered bank headquartered in Greenville, South Carolina.
CertusBank has more than 30 branches in the Carolinas, Florida and
Georgia and offers a full range of Consumer and Commercial banking
solutions. Visit CertusBank.com to learn more.
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 that
reflect BankUnited’s current views with respect to, among other things,
future events and financial performance.
BankUnited generally identifies forward-looking statements by
terminology such as “outlook,” “believes,” “expects,” “potential,”
“continues,” “may,” “will,” “could,” “should,” “seeks,” “approximately,”
“predicts,” “intends,” “plans,” “estimates,” “anticipates” or the
negative version of those words or other comparable words. Any
forward-looking statements contained in this press release are based on
the historical performance of BankUnited and its subsidiaries or on
BankUnited’s current plans, estimates and expectations. The inclusion of
this forward-looking information should not be regarded as a
representation by BankUnited that the future plans, estimates or
expectations contemplated by BankUnited will be achieved. Such
forward-looking statements are subject to various risks and
uncertainties and assumptions relating to BankUnited’s operations,
financial results, financial condition, business prospects, growth
strategy and liquidity. If one or more of these or other risks or
uncertainties materialize, or if BankUnited’s underlying assumptions
prove to be incorrect, actual results may vary materially from those
indicated in these statements. These factors should not be construed as
exhaustive. BankUnited does not undertake any obligation to publicly
update or review any forward-looking statement, whether as a result of
new information, future developments or otherwise. A number of important
factors could cause actual results to differ materially from those
indicated by the forward-looking statements. Information on these
factors can be found in BankUnited’s Annual Report on Form 10-K for the
year ended December 31, 2014 available at the SEC’s website (www.sec.gov).
Source: BankUnited, Inc.
Mary Harris, 305-817-8117
Colletta E. Bryce, 864-478-1319