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BankUnited rises from dead in successful IPO (BKU)

By Implode-Explode Heavy Industries

"Florida's largest financial institution, BankUnited (NYSE: BKU) started crumbling in the wake of the subprime mortgage collapse in 2007. It would eventually be seized by regulators and sold to a group of private investors in May 2009. All told, the collapse cost the Federal Deposit Insurance Corp. $5.7 billion, according to the Miami Herald. That's the second most costly bank failure to come out of the housing crisis, putting it behind only IndyMac."

Full post as published by Mortgage Lender Implode-o-Meter on January 31, 2011 (boomark / email).