Bankunited, Inc. · NYSE:BKU
Bankunited — Investor Presentation (July 2012)
29 slides from Bankunited's investor presentation, Jul 26, 2012
Slide 1: BankUnited, Inc.
@ & BankUnited BankUnited, Inc.
Slide 2: Forward-Looking Statements
This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the current views of BankUnited, Inc. (“BankUnited” or “BKU”) with respect to, among other things, future events and financial performance. BankUnited general
Slide 3: Why BankUnited?
@ w& BankUnited Why BankUnited?
Slide 4: The BankUnited Value Proposition
Clean Balance Sheet The BankUnited Value Proposition 4 Dynamic Growth Story Management Team with Strong Track Record Strong Performance and Capital Position Healthy Regulatory Relations The Dominant Florida Institution
Slide 5: Who are we?
@ & BankUnited Who are we?
Slide 6: Overview of BankUnited
Overview of BankUnited Company Snapshot The largest traditional independent bank in Florida(1) Florida footprint: 95 branches in 15 counties $12.4 billion of assets $5.1 billion of loans $8.2 billion of total deposits $48.9 million of net income for the quarter ended June 30, 2012 Acquired 3 New Yor
Slide 7: FDIC Loss Sharing Agreements Overview
Agreements to cover approximately $11.6 billion of acquired assets The FDIC bears 80% of the first $4.0 billion in losses (“Stated Threshold”) 95% of the losses above the Stated Threshold Summary Ability to sell approximately $280 million of loans (UPB) on an annual basis without FDIC consent No res
Slide 8: What have we accomplished?
@ & BankUnited What have we accomplished?
Slide 9: Milestones Accomplished to Date
Restructured Management and Changed Company Culture Milestones Accomplished to Date Invested Significant Capital into Systems and Physical Infrastructure Built Commercial Banking Platform through Team Acquisitions Acquired 2 Leasing Platforms and Herald National Bank Completed $900 million IPO Appro
Slide 10: Transformed Loan Portfolio
Transformed Loan Portfolio $ in millions(1) New Loans Legacy Loans and FDIC Asset $10.0 $7.9 $5.9 $5.4 UPB of Covered Loans and OREO ($BN) (1) Balances exclude unearned discount and deferred fees and costs, net. 10
Slide 11: Our New Loan Growth has Outpaced Legacy Asset Runoff
Our New Loan Growth has Outpaced Legacy Asset Runoff Passed Inflection Point in 3Q 2011 and Have Been Experiencing Net Loan Growth (1) ($ in millions) (1) Balances exclude unearned discount and deferred fees and costs, net. 11
Slide 12: Transformed Deposit Base
Transformed Deposit Base $ in millions Deposits December 31, 2009 December 31, 2010 December 31, 2011 June 30, 2012 Cost of Deposits (1) 2.18% 1.39% 0.90% 0.74% Demand Interest Checking Money Market / Savings Time Deposits (1) Cost of deposits as of period end date. Excludes cost of interest rate sw
Slide 13: Commercial Deposits Growth
Commercial Deposits Growth $ in millions December 31, 2009 December 31, 2010 December 31, 2011 June 30, 2012 $420 $886 $1,470 $2,124 Demand Interest Checking Money Market Savings 13
Slide 14: Franchise Dramatically Enhanced
Franchise Dramatically Enhanced Old Face Prior to Transformation 14
Slide 15: Franchise Dramatically Enhanced
Franchise Dramatically Enhanced Old Face Prior to Transformation 15
Slide 16: Franchise Dramatically Enhanced
Franchise Dramatically Enhanced 16
Slide 17: Franchise Dramatically Enhanced
Franchise Dramatically Enhanced 17
Slide 18: Franchise Dramatically Enhanced
Franchise Dramatically Enhanced 18
Slide 19: Franchise Dramatically Enhanced
Franchise Dramatically Enhanced 19
Slide 20: How do we compare?
@ & BankUnited How do we compare?
Slide 21: How Do We Compare?
How Do We Compare? Return on Avg Assets Return on Avg Equity Net Interest Margin Tier 1 Leverage 0.9% 1.6% 7.7% 11.8% 3.5% 5.8% 9.6% 12.8% (1) (1) (1) (1) Source: SNL Financial. Financial data as of the quarter ended June 30, 2012, or most recent available. (1) Peers data reflect median values for p
Slide 22: How Do We Compare?
How Do We Compare? Price / 2012E EPS Price / Tang Book Dividend Yield Peers(1) BKU BKU BKU Source: SNL Financial. Market data as of July 24, 2012. Financial data as of June 30, 2012 or most recent available. (1) Peers data reflect median values for publicly traded U.S. banks and thrifts with assets
Slide 23: Change in Analysts' Earnings Expectations
Change in Analysts’ Earnings Expectations %Chg of 2012 EPS Estimate since March 2011(1) (1) Source: Factset. Market data as of July 24, 2012. Financial data as of the quarter ended June 30, 2012 or most recent available. Date when analysts initiated research coverage of BKU. Peers data reflect media
Slide 24: Where are we headed?
@ & BankUnited Where are we headed?
Slide 25: Looking Ahead: Where Are We Headed?
Looking Ahead Where Are We Headed? Continue focus on small business and middle market customers in Florida Further develop the consumer segment and diversify into select consumer asset classes Launch New York with a commercial focus Maintain trajectory of loan growth Continue focus on lowering cost
Slide 26: Continued Reconstruction of Branch Network
By Property Type 85 77 81 95 101 85 77 81 95 101 Legacy vs. New Continued Reconstruction of Branch Network 26
Slide 27: The BankUnited Value Proposition
The BankUnited Value Proposition
Slide 28: The BankUnited Value Proposition
Clean Balance Sheet The BankUnited Value Proposition Dynamic Growth Story Management Team with Strong Track Record Strong Performance and Capital Position Healthy Regulatory Relations The Dominant Florida Institution 28
Slide 29: BankUnited, Inc.
@ & BankUnited BankUnited, Inc.