Sumary of BankUnited looks beyond Florida, New York for growth:
- BankUnited said it is looking to expand beyond its strongholds in Florida and New York, marking a major strategic shift as the company emerges from the pandemic.
- “In the past, we’ve said New York and Florida are about as much of the market as we want because it’s just hard flying back and forth between these two markets,” Rajinder Singh, BankUnited’s chairman, president and CEO, said during an earnings call Thursday.
- … If that’s the case, then there are other markets that will work well.
- ”Singh suggested that the bank was willing to consider potential new markets north of New York in New England.
- He said BankUnited would most likely look in the East and at densely populated urban markets where it could be an active commercial lender.
- “So we are looking at markets from Boston all the way down to Atlanta and beginning to” assess “the health of these markets,” Singh said.
- ”The shift for the $35.7 billion-asset BankUnited was “very recent, over the last three months,” he said.
- ” “We are looking at markets from Boston all the way down to Atlanta and beginning to” assess “the health of these markets,” said BankUnited CEO Rajinder Singh.