Via The Market Oracle:
Integrity Bank of Alpharetta, Ga., which just failed Friday with nearly a billion in deposits … plus an even larger bank in trouble: BankUnited Financial Corp.
BankUnited is Florida’s largest bank with 85 branches in 13 counties and with total assets of $14.2 billion.
In the first three quarters of last year, it reaped a profit of $23.2 million. The first three quarters of 2008? $200 million in losses!
Allowing for larger banks to buy their assets very cheaply, which was the plan.