The Real Deal Miami

Florida banks draw investors

May 27, 2009 02:49PM

The Florida market is battered, but is seen as so potentially lucrative that investors will invest in its so-called zombie banks to get a piece of the action. The recent deal for BankUnited Financial of Coral Gables, which attracted private equity firms W.L. Ross, Carlyle Group, and Blackstone Group after intense competition from Goldman Sachs and J.C. Flowers, underscores the allure of state banks, which are a source of low-cost, stable deposits, the bedrock of the banking business.