Burned by mortgages, BankUnited shifting to business lending as Coral Gables institution starts new life under John Kanas
After teetering on the edge of collapse for nearly a year, Coral Gables-based BankUnited was seized by regulators last month and was quickly turned over to a consortium of investors headed by New York banker John Kanas.
Mr. Kanas says he has big plans for the statewide thrift, including de-emphasis of mortgage lending and greater focus on support for small- and mid-sized businesses.
And while a handful of people have been brought in to help smooth the transition, much of the senior management team will stay in place, he says, preserving the bank's ties to the local community.
Mr. Kanas discussed what it took to outbid 62 others vying for control of the bank and what the future may hold for banking in South Florida.
He was interviewed at BankUnited's Coral Gables headquarters by Miami Today staff writer Zachary S. Fagenson.
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