BUSINESS BRIEFING / BANKING
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Regulators have shut down a big Florida mortgage lender, saying it had a severe lack of capital and was not in a condition to conduct business.
BankUnited FSB, a savings bank based in Coral Gables, Fla., was the 34th federally insured institution to be closed this year. The Federal Deposit Insurance Corp. was appointed receiver of the bank.
With about $13 billion in assets as of May 2, it called itself the largest banking institution headquartered in Florida. The bank has been sold to a group of investors and will operate as a newly chartered savings bank called BankUnited.
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