MIAMI LAKES, Fla., Oct. 8 /PRNewswire/ -- BankUnited, the largest bank headquartered in Florida, has acquired a small-business lending platform from Butler Capital Corporation and a municipal leasing business from Koch Financial Corporation. These businesses will serve as the foundation for the bank to provide lease financing services to small businesses, municipalities and governmental entities on a national basis.
The commercial financing business acquired from Butler Capital will operate as United Capital Business Lending and will be headquartered in Hunt Valley, Maryland. United Capital will be led by Bernard Lajeunesse, a seasoned executive of the middle-market lending industry, who most notably served as the president and chief executive officer of Healthcare Business Credit Corporation.
The municipal leasing business acquired from Koch Financial will operate as Pinnacle Public Finance and will be headquartered in Scottsdale, Arizona. Pinnacle Public Finance will be led by Paul Haerle, a 25-year industry veteran of the public finance and tax-exempt leasing industry and former president of Koch Financial.
"These transactions provide an attractive way to diversify our loan portfolio," said BankUnited's Chairman, President and Chief Executive Officer John Kanas. "Both teams have outstanding track records and the national nature of the businesses will allow us to expand our reach.
"The professionals who will be joining us are among the very best in their fields. Their records of success give us great confidence in their future contributions. These acquisitions will be excellent complements to our company."
Lajeunesse added, "The credit crisis continues to be a hurdle for companies of all sizes. As a BankUnited company, we can provide businesses with the capital they need and enable the bank to extend its asset-gathering capabilities across the country."
Haerle added, "This transaction represents an outstanding opportunity for us to expand relationships with states, cities and municipalities across the country. Kanas and the board of directors have big plans for BankUnited and we are thrilled to be a part of the company. It is going to be a great partnership."
BankUnited is one of the strongest and most well-capitalized banks in the country. Serving businesses and consumers in 13 Florida counties through more than 75 branches, BankUnited provides a wide range of commercial and consumer banking services. For additional information, call (877) 779-2265 or visit www.BankUnited.com.