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BankUnited board OKs new stock buyback program

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BankUnited board OKs new stock buyback program

BankUnited Inc.'s board on Sept. 12 authorized a new buyback program, under which the Miami Lakes, Fla.-based company may repurchase up to $150 million of its outstanding common stock.

Shares may be repurchased from time to time in open market or private transactions. No time limit was set for the completion of the program.

The new program replaces the company's prior repurchase plan, according to a filing.