The Coral Gables-based bank holding company, parent of BankUnited FSB, reported that non-residential loan originations increased by 33% to $214 million for the three-months ended Sept. 30.
"Leading growth drivers were commercial and commercial real estate lending, which collectively rose to $460 million, an increase of 20% (for the year)," Alfred R. Camner, BankUnited chairman and chief executive officer, says in a prepared statement.
The company set several benchmarks during the quarter. Loan production reached $423 million, up 90% over the same quarter last year. Non-interest income increased to $4.7 million, 194% higher than last year. Its efficiency ratio improved to 52.8% from 59% for the same quarter last year. And non-interest bearing deposits grew to $90 million, up 25% from the same quarter last year.
The company reported net income of $6 million, or 23 cents per diluted share, on total interest income of $83 million for the three-month period, compared with net income of $3.5 million, or 19 cents per share, on total interest income of $79 million for the same period in 2000.
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