BankUnited considering an IPO: source

A pedestrian walks in front of the BankUnited headquarters in Coral Gables, Florida May 21, 2009.

NEW YORK (Reuters) - BankUnited, a collapsed Florida lender acquired by private equity firms last year, is considering an initial public offering, a person familiar with the situation said on Friday.

The bank, bought by firms including Wilbur Ross' WL Ross & Co, Carlyle Group, Blackstone Group and Centerbridge Partners, would consider doing a deal no sooner than the end of the year or the first quarter of next year, the source said.

The private equity firms put up $900 million in capital to rescue the bank, after it made risky mortgage loans and the Florida housing market collapsed.

BankUnited has $11 billion in assets and more than 75 branches, according to its website.

Its chief executive is John Kanas, an industry veteran who headed North Fork Bank when it was acquired by Capital One Financial Corp (COF.N).

(Reporting by Megan Davies and Dan Wilchins; Writing by Dan Wilchins; Editing by Richard Chang)