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INDUSTRY NEWSBANKING & FINANCIAL SERVICES
BankUnited tops in state, Bank Street Partners report
says
Jun 4, 2015, 10:23am EDT Updated Jun 4, 2015, 11:21am EDT\
Nina Lincoff
South Florida Business Journal
OKSANA KOSTYUSHKO
Miami Lakes-based BankUnited (NYSE: BKU) topped Banks Street Partners' list of Florida-based banks in five key
metrics during the first quarter.
Two other South Florida banks, Boca Raton-based Paradise Bank and Coconut Grove-based Biscayne Bank, joined
BankUnited in the top five, coming in at No. 2 and No. 3 on the list, respectively.
The Atlanta-based investment banking firm weighed the banks' net interest margin, non-interest income, overhead, asset
quality, and return on average equity to determine their overall rank.
Fort Lauderdale-based Landmark Bank, West Palm Beach-based Palm Beach Community Bank, and Pompano Beachbased Stonegate Bank came in at No. 9, No. 14, and No. 15, respectively. Of the top 50, 14 spots were claimed by South
Florida banks.
BankUnited is the second largest bank in the
state in terms of assets, with $19.8 billion as of
March 31, falling behind Jacksonville-based
EverBank with $23.3 billion at the same time.
However, EverBank fell way below BankUnited
on Banks Street’s list at No. 35. A low net
interest margin rank and overall lower
overhead, asset quality, and return on average
equity dragged EverBank down.