BankUnited, Inc (BKU)

(A Top Pick July 25/13. Up 10.77%.) This is post the global financial crisis and a bank that was effectively re-launched. Q1 capital ratio was around 30%. Exposed to the Florida and US market. Interest rates will take this higher and will be a tuck-in candidate at some point.

(Top Pick Jul 08/13, Up 21.86%) Has the best loan growth. Nice dividend. Expanding in New York and core operations in Florida. Should continue to do well. There is a lot of value not being recognized.

(Top Pick Apr 10/13, Up 31.38%) Doesn’t like money centre banks with big brokerage exposure, but this one is a Florida based commercial bank that is exceedingly well capitalized. It’s his favourite regional.

Has T1 ratio capital of around 30%. When you compare that relative to the Canadian banks of 10%-11%, it is very attractive and very defensible. Dividend yield of 2.67% is sustainable. It is going to benefit from a recovery in its home base of Florida. CEO previously sold a company and he was resident in the New York market, so New York is the focus for growth, particularly in the commercial banking area. Very good balance sheet and will ultimately be taken out.

Bought out of bankruptcy by a group of investors. Commercial based bank in Florida that is growing along with the real estate market there. Likes the outlook for it both earnings and dividend wise.

Has a 2/1 ratio (?) of about 30% as compared to Canadian banks with a 2/1 ratio of about 10%. Has been freshly recapitalized so is effectively a start-up bank. Was rescued from bankruptcy by 2 large private equity firms. Continues to grow. Has fresh capital going into the market. Good dividend, which will be progressive. Operates in Southwest Florida and has just entered the New York market. Proven management team. Someone will eventually take this one out. 2.8% dividend yield.

Just recovering from a drop this spring. Private equity sold down a large chunk of their equity as did the CEO. Regional bank exposed to Florida. High loan growth story. Good Dividend. Could double or triple its assets over the next couple of years. High tier one capital ratio so there is a lot of capital to distribute.

Florida’s 2^nd biggest bank by deposits and have opened 2 offices in the greater New York area. Had basically gone bust in the financial crisis. Recapitalized with new management which used to run the North Fork Bank in New York State. Has a 30% tier 1 capital ratio, so very well capitalized. Big drop in the Stock Price recently was when they sold a bunch of common stock to capitalize the company properly. The yield of 3.29% has no place to go but up as earnings grow.