8-K
BankUnited, Inc. (BKU)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 16, 2020 (March 16, 2020)
BankUnited, Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 001-35039 | 27-0162450 | |
|---|---|---|---|
| (State of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | |
| 14817 Oak Lane, | Miami Lakes, | FL | 33016 |
| --- | --- | --- | --- |
| (Address of principal executive offices) | (Zip Code) |
(Registrant’s telephone number, including area code): (305) 569-2000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Class | Trading Symbol | Name of Exchange on Which Registered |
|---|---|---|
| Common Stock, $0.01 Par Value | BKU | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐
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Item 7.01 Regulation FD Disclosure.
On March 16, 2020, BankUnited, Inc. (the “Company”) issued a press release announcing that it has temporarily suspended its share repurchase program. A copy of the Company’s press release containing this information is being furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit<br><br>Number | Description | |
|---|---|---|
| 99.1 | Press release dated | March 16, 2020 |
| 104 | The cover page from this Current Report on From 8-K formatted in Inline XBRL (included as Exhibit 101) |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: | March 16, 2020 | BANKUNITED, INC. | |
|---|---|---|---|
| /s/ Leslie N. Lunak | |||
| Name: | Leslie N. Lunak | ||
| Title: | Chief Financial Officer |
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Exhibit
Exhibit 99.1
Contact:
Corporate Communications:
Donna Crump-Butler
305-231-6707
DButler@BankUnited.com
BankUnited, Inc. temporarily suspends Share Repurchase Program
Miami Lakes, Fla. - BankUnited, Inc. (NYSE: BKU), (the “Company”) today announced that it has temporarily suspended its share repurchase program. Given the challenges presented by the COVID-19 pandemic and surrounding events, the decision to temporarily suspend share repurchases is consistent with the utilization of capital to provide support to customers through lending and other services. BankUnited remains strong and well-capitalized, and the Company retains the ability to reinstate the share repurchase program as soon as circumstances warrant.
Through March 13, 2020, the Company had repurchased approximately 3.4 million shares of common stock for an aggregate purchase price of approximately $105.1 million under its existing $150 million share repurchase authorization.
About BankUnited, Inc.
BankUnited, Inc. (NYSE: BKU), with total assets of $32.9 billion at December 31, 2019, is the bank holding company of BankUnited, N.A., a national bank headquartered in Miami Lakes, Florida with banking centers in Florida and New York metropolitan area. For additional information, call (877) 779-2265 or visit www.BankUnited.com. BankUnited can be found on Facebook at facebook.com/BankUnited.official and on Twitter @BankUnited.