BankUnited on Wednesday reported improved earnings for the fourth quarter of 2011, as the Miami Lakes-based bank redirects its course to remain independent and grow in Florida and the Northeast.
For the quarter ended December 31st, BankUnited reported net income of $41.3 million or 41 cents per share, compared to $27.8 million, or 30 cents per share for the same period of 2010.
BankUnited Chairman and Chief Executive John Kanas attributed the improvement largely to strong loan growth.
“We grew by almost $840 million this year,†Kanas said. “This bank is continually going through the process of shrinking the old loans off and growing the new loan book, and that really became magnified this quarter. We really had an all-around very strong performance heading into this year.â€
