Condensed Financial Statements of BankUnited, Inc. (Tables)

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Balance Sheet

Condensed financial statements of BankUnited, Inc. are presented below (in thousands):

Condensed Balance Sheets

	December 31, 2014		December 31, 2013
Assets:
Cash and cash equivalents	$	178,444	$	132,293
Investment securities available for sale, at fair value	126,888		132,262
Investment in subsidiaries	1,747,992		1,643,939
Deferred tax asset, net	14,534		15,043
Other assets	8,593		31,254
Total assets	$	2,076,451	$	1,954,791
Liabilities and Stockholders' Equity:
Liabilities	$	23,917	$	26,093
Stockholders' equity	2,052,534		1,928,698
Total liabilities and stockholders' equity	$	2,076,451	$	1,954,791

Condensed Income Statement

Condensed Statements of Income

	Years Ended December 31,
	2014		2013			2012
Income:
Interest and dividends on investment securities available for sale	$	5,560	$	5,647		$	3,890
Service fees from subsidiaries	15,746		6,293			14,043
Equity in earnings of subsidiaries	208,934		216,240			218,154
Other	—		68			5,905
Total	230,240		228,248			241,992
Expense:
Employee compensation and benefits	21,388		18,465			26,928
Other	4,571		6,806			6,914
Total	25,959		25,271			33,842
Income before income taxes	204,281		202,977			208,150
Provision (benefit) for income taxes	66		(5,959		)	(3,110		)
Net income	$	204,215	$	208,936		$	211,260

Condensed Cash Flow Statement

Condensed Statements of Cash Flows

	Years Ended December 31,
	2014			2013			2012
Cash flows from operating activities:
Net income	$	204,215		$	208,936		$	211,260
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries	(116,934		)	(116,240		)	(118,154		)
Equity based compensation	15,551			13,936			23,204
Other	20,804			5,267			(5,529		)
Net cash provided by operating activities	123,636			111,899			110,781
Cash flows from investing activities:
Capital contributions to subsidiary	—			—			(30,000		)
Purchase of investment securities available for sale	—			—			(99,710		)
Proceeds from repayments, sale, maturities and calls of investment securities available for sale	7,319			19,851			53,094
Cash paid in business combination	—			—			(25,164		)
Other	(137		)	79			(326		)
Net cash provided by (used in) investing activities	7,182			19,930			(102,106		)
Cash flows from financing activities:
Dividends paid	(87,716		)	(65,225		)	(89,021		)
Other	3,049			12,700			5,209
Net cash used in financing activities	(84,667		)	(52,525		)	(83,812		)
Net increase (decrease) in cash and cash equivalents	46,151			79,304			(75,137		)
Cash and cash equivalents, beginning of period	132,293			52,989			128,126
Cash and cash equivalents, end of period	$	178,444		$	132,293		$	52,989
Supplemental schedule of non-cash investing and financing activities:
Dividends declared, not paid	$	21,968		$	21,833		$	—
Equity consideration issued in business combination	$	—		$	—		$	39,861