Last $8.86 USD
Change Today 0.00 / 0.00%
Volume 170.8K
FUBC On Other Exchanges
As of 8:10 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

One North Federal Highway

Boca Raton, FL 33432

United States

Phone: 561-362-3431


1st United Bancorp, Inc. operates as the holding company for 1st United Bank that provides various commercial banking services to businesses and individuals. The company operates 21 banking centers in Florida, from Central Florida through the Treasure Coast to South Florida, including Brevard, Broward, Hillsborough, Indian River, Miami-Dade, Orange, Palm Beach, and Pinellas counties. Lending Activity The company offers various loans, such as commercial loans, which would include collateralized loans for working capital (including inventory and receivables), business expansion (including real estate construction, acquisitions, and improvements), and purchase of equipment and machinery; small business loans, including SBA lending; Export -Import Bank (EXIM) insured or guaranteed loans; residential real estate loans to enable borrowers to purchase, refinance, construct upon or improve real property, and home equity loans; and consumer loans, including collateralized and uncollateralized loans for financing automobiles, boats, home improvements, and personal investments. Real Estate Loans Real Estate Loans – Commercial: Through the company’s lending division, its commercial real estate loan portfolio includes loans secured by office buildings, warehouses, retail stores, and other properties, which are primarily located in or near its markets. Real Estate Loans – Residential: The company originates a mix of fixed rate and adjustable rate residential mortgage loans. Lending officers contact local builders, realtors, government officials, community leaders, and other groups to determine the residential credit needs of the communities that the company serves. The company offers adjustable rate mortgages (ARMs) and maintains these ARMs in its portfolio or sells the ARMs in the secondary market. The company also originates fixed rate loans from within its primary service area. The majority of fixed rate loans are either held in portfolio or sold in the secondary mortgage market. Construction - Residential and Commercial Real Estate Loans The construction loan portfolio includes residential real estate, commercial real estate, and homeowners’ association projects. Through the company’s lending divisions, it originates real estate construction loans to individuals for the construction of their residences, to businesses and business owners primarily for owner-occupied commercial real estate, and to homeowners’ associations for general repair and/or improvements to the properties. Its construction loans have terms approximately 18 months, and the maximum loan-to-value ratio at origination is 80%. The company provides construction loans on commercial real estate projects secured by industrial properties, office buildings, or other property. Land Loans The company’s portfolio includes exposure to land development, both residential and commercial. Consumer Loans The company originates consumer loans bearing both fixed and prime-based variable interest rates. It originates its loans directly through its banking centers, business bankers, and residential lenders. Residential real estate secured loans are originated through the company’s lenders who are licensed to make these loans. The company focuses its consumer lending on the origination of direct first or second mortgage loans and home equity loans (secured by a junior lien on residential real property), and home improvement loans. It also extends personal loans, which might be secured by various forms of collateral, both real and personal, or to a minimal extent, on an unsecured basis. Commercial Loans The company focuses on the commercial loan market that includes small to medium-sized businesses. These businesses include professional associations (physicians, law firms, and accountants), medical services, retail trade, construction, transportation, wholesale trade, manufacturing, and tourism-related service industries. The company’s commercial loans are primarily derived from its market area and underwritten on the basis of the borrowers’ ability to service such debt from recurring income. In certain situations, the company uses variou

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Valuation FUBC Industry Range
Price/Earnings 37.4x
Price/Sales 4.5x
Price/Book 1.3x
Price/Cash Flow 37.4x
TEV/Sales 2.7x

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