Bankunited Financial — Q3 2008 Earnings Presentation
16 slides from Bankunited Financial's earnings presentation, Aug 11, 2008
Slide 1: BankUnited Financial Corporation Fiscal 2008 Third-Quarter Financial Results
1 BankUnited Financial Corporation Fiscal 2008 Third-Quarter Financial Results
Slide 2: Forward-Looking Information
2 Forward-Looking Information This presentation may contain certain forward-looking statements, which are based on management's expectations regarding factors that may impact the company's earnings and performance in future periods. Words and phrases such as: “will,” "expect," "anticipate," "estimat
Slide 3: Third-Quarter Review
3 Third-Quarter Review Loss of $117.7 million, or $3.35 per share Recorded a provision for loan losses of $130 million reflecting the nationwide deterioration in the housing market and the rising level of delinquencies Other-than-temporary impairments of $25.1 million, pre-tax on preferred securitie
Slide 4: Protecting and Strengthening Capital Position
4 Protecting and Strengthening Capital Position Strengthening of BankUnited, FSB capital through an $80 million contribution from BankUnited Financial Corporation Reduction of expenses Suspending dividends on common stock Waiver by certain holders of receipt of preferred dividends Shrinking the bala
Slide 5: Mortgage Assistance Efforts
5 Mortgage Assistance Efforts Launched formal Mortgage Assistance Program Waiving pre-payment fees on option ARM loans Working with borrowers to move from option ARM loans to traditional mortgage products including government agency loans Converting non-conforming option ARM loans to saleable to the
Slide 6: Retail Commercial Bank
6 Retail Commercial Bank Retail commercial bank is performing well Total deposits of $7.6 billion at June 30, 2008, a 9.2% increase from June 30, 2007 Core deposits of $5.3 billion at June 30, 2008, a 6.1% increase from June 30, 2007 Commercial and Commercial Real Estate loan balances increased to $
Slide 7: Retail Commercial Bank: Customer Relationships
7 Retail Commercial Bank We continue to build strong relationships with our customers Neighborhood Banking at June 30, 2008 102,000 households Average household deposits of ~ $64,000 2.071 services per household Building relationships through Wealth Management Referrals have increased significantly
Slide 8: Third-Quarter 2008 Credit Summary
8 Third-Quarter 2008 Credit Summary Provision for loan loss of $130 million; net charge-offs of $22.7million Residential and consumer residential net charge-offs of $22.4 million; including $10.7 million in estimated recoveries from mortgage insurance Consumer net charge-offs of $64,000 Commercial a
Slide 9: Third-Quarter 2008 Credit Summary
9 Third-Quarter 2008 Credit Summary
Slide 10: Total Non-performing Loans
10 June 30, 2008 - Total Non-performing Loans Total NPLs $982.3 million
Slide 11: C&I and CRE Portfolio Balances by Product
11 June 30, 2008 - C&I and CRE Portfolio Balances by Product Non-performing Loans by Product Total: $1,315 million Total: $77 million
Slide 12: Residential Loan Portfolio - Documentation
12 June 30, 2008 - Residential Loan Portfolio - Documentation Currently, only full documentation loans are being produced
Slide 13: Mortgage Insurance Coverage
13 Mortgage Insurance Coverage 19%, or $1.8 billion, of the residential loan portfolio had mortgage insurance as of June 30, 2008 29% of the 2006 vintage is covered by mortgage insurance
Slide 14: Real Estate Owned (REO) Activity
14 Real Estate Owned (REO) Activity Accelerating disposition of REOs Increasing sales prior to foreclosure
Slide 15: Residential Loan Delinquency Trends
15 Residential Loan Delinquency Trends 1,2 (Gp:) 2006 (Gp:) 2007 (Gp:) 2008 Note: 1 As of July 2008 2 Includes only 1, 2 and 3 missed payments
Slide 16: Thank You
16 BankUnited Financial Corporation Thank You