UPDATE 1-BankUnited sees Q2 loss of $443 mln, shares tumble
* Sees wider Q2 loss
* Cites high provisions, non-performing assets
* Says looking to raise capital
* Shares down 38 percent
May 12 (Reuters) - BankUnited Financial Corp BKUNA.O said it expects to report a second-quarter loss of $443 million, hit by higher loan provisions, and it will not be able to file its quarterly results on time.
Shares of the company were trading down 38 percent at $1.0 after the bell. The stock, which has lost 82 percent of its value in the last 12 months, closed at $1.60 Tuesday on Nasdaq.
The parent of BankUnited FSB, headquartered in Florida, has not filed its quarterly results with the U.S. Securities and Exchange Commission for the past two quarters.
The company said it will request additional time from Nasdaq to make the required filings, adding "there is no assurance that they will grant us such additional time."
The company continues to seek capital at the holding company level, but said it cannot assure it will be able to raise capital at either the bank or the holding company. Continued...
© Thomson Reuters 2009. All rights reserved. | Learn more about Thomson Reuters
