Exhibit 21.1

Subsidiaries of the Registrant

	Jurisdiction of Incorporation or Organization
BankUnited Financial Corporation owns 100% of:	Florida
BankUnited, FSB which owns 100% of:	Federal
T&D Properties of South Florida, Inc.	Florida
Bay Holdings, Inc.	Florida
CRE Properties, Inc.	Florida
BU, REIT, Inc.	Florida
BU Delaware, Inc.	Delaware
SCG Mortgage Corporation	Delaware
SCG Management Corporation	Delaware
BankUnited Financial Services, Incorporated	Florida
CRE America Corporation	Florida
BankUnited Capital (1)	Delaware
BankUnited Capital II (1)	Delaware
BankUnited Capital III (1)	Delaware
BankUnited Statutory Trust I (1)	Connecticut
BankUnited Statutory Trust II (1)	Connecticut
BankUnited Statutory Trust III (1)	Connecticut
BankUnited Statutory Trust IV (1)	Connecticut
BankUnited Statutory Trust V (1)	Connecticut
BankUnited Statutory Trust VI (1)	Connecticut
BUFC Statutory Trust VII (1)	Delaware
BankUnited Statutory Trust VIII (1)	Delaware
BankUnited Statutory Trust IX (1)	Delaware
BUFC Statutory Trust X (2)	Delaware

(1) BankUnited Financial Corporation owns 100% of the common stock of BankUnited Capital III, BankUnited Statutory Trust I, BankUnited Statutory Trust II, BankUnited Statutory Trust III, BankUnited Statutory Trust IV, BankUnited Statutory Trust V, BankUnited Statutory Trust VI and BUFC Statutory Trust VII. BankUnited Capital has issued $70 million aggregate liquidation value of its 10 ¹/4% Trust Preferred Securities, Series B ($1,000 liquidation amount per trust preferred security), which are publicly held. In fiscal 2003, all of the outstanding preferred and common securities of BankUnited Capital II and BankUnited Capital III were redeemed. BankUnited Statutory Trust I has issued $20 million aggregate liquidation value of its Floating Rate Capital Securities ($1,000 liquidation amount per trust preferred security), BankUnited Statutory Trust II has issued $25 million aggregate liquidation value of its Floating Rate Capital Securities ($1,000 liquidation amount per trust preferred security); BankUnited Statutory Trust III has issued $25 million aggregate liquidation value of its Floating Rate Capital Securities ($1,000

liquidation amount per trust preferred security); BankUnited Statutory Trust IV has issued $20 million aggregate liquidation value of its Floating Rate Capital Securities ($1,000 liquidation amount per trust preferred security); BankUnited Statutory Trust V has issued $15 million aggregate liquidation value of its Floating Rate Capital Securities ($1,000 liquidation amount per trust preferred security); BankUnited Statutory Trust VI has issued $17,640,000 aggregate liquidation value of its Floating Rate Capital Securities ($1,000 liquidation amount per trust security); BUFC Statutory Trust VII has issued $15 million aggregate value of its Floating Rate MM Caps ^SM ($1,000 liquidation amount per trust preferred security); BankUnited Statutory Trust VIII has issued $15 million aggregate liquidation value of its Floating Rate Capital Securities ($1,000 liquidation amount per trust preferred security); and BankUnited Statutory Trust IX has issued $15 million aggregate liquidation value of its Fixed/Floating Rate Capital Securities ($1,000 liquidation amount per trust preferred security). The trust preferred securities issued by BankUnited Statutory Trust I, BankUnited Statutory Trust II, BankUnited Statutory Trust III, BankUnited Statutory Trust IV, BankUnited Statutory Trust V, BankUnited Statutory Trust VI, BUFC Statutory Trust VII, BankUnited Statutory Trust VIII and BankUnited Statutory Trust IX were issued in private placements.

(2) In October 2006, the Company closed a trust-preferred transaction through a newly formed Delaware trust subsidiary, BUFC Statutory Trust X. BankUnited Financial Corporation owns all of the common stock of BUFC Statutory Trust X which issued $50 million of trust preferred securities, in a private placement.