by Calculated Risk on 9/05/2008 05:12:00 PM

Press Release: BankUnited FSB Receives Notification from the Office of Thrift Supervision

BankUnited Financial Corporation (NASDAQ:BKUNA - News), parent company of BankUnited FSB, announced that it received notification today that the Office of Thrift Supervision has reclassified the Bank’s regulatory capital status from well-capitalized to adequately capitalized although the Bank’s capital ratios exceed the statutory threshold for well-capitalized institutions. As a result, the Bank is subject to restrictions on accepting brokered deposits.

Just last week, in a SEC 10-Q filing, BankUnited expressed concern that the OTS might impose additional restrictions on BankUnited, and that these restrictions might have "a material adverse effect on BankUnited’s financial position and operations".