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BANKUNITED'S PRELIMINARY UNAUDITED 1992 ANNUAL RESULTS SHOW NET EARNINGS DOUBLING TO RECORD HIGH OF $2.6 MILLION

 BANKUNITED'S PRELIMINARY UNAUDITED 1992 ANNUAL RESULTS
 SHOW NET EARNINGS DOUBLING TO RECORD HIGH OF $2.6 MILLION
 CORAL GABLES, Fla., Oct. 8 /PRNewswire/ -- BankUnited (NASDAQ: BKUNA), a savings bank serving both coasts of Florida, has reported preliminary unaudited results for fiscal 1992 which are double its net income a year ago.
 The bank attained record high net earnings of approximately $2.6 million for its fiscal year ended Sept. 30, 1992, a gain of more than 100 percent over fiscal 1991 net earnings of $1.2 million.
 In announcing the preliminary figures, Alfred R. Camner, chairman of BankUnited, stated, "Every aspect of our business provided strong gains for the year. Led by the private banking division, our net interest income and core earnings were far above those of the previous year.
 "The South Miami office which we acquired at mid-year from the Resolution Trust Corporation has proven to be a sound investment and a valuable addition to our private banking franchise.
 "Our emphasis on a high level of customer service and careful monitoring of operating costs combined to produce the best bottom line in the bank's history. We plan to utilize our strong financial foundation to continue growing in the future."
 BankUnited's total assets reached $345 million as of Sept. 30, 1992, compared to $262 million a year ago. Deposits climbed to $276 million from $203 million last year.
 Regulatory capital also rose during the year. As of Sept. 30, 1992, tangible and core capital both exceed 6.5 percent.
 BankUnited operates eight banking offices serving Coral Gables, South Miami, Tamarac, Coral Springs and Delray Beach on the east coast, and Bonita Springs, Venice and Bradenton on the west coast.
 BankUnited is a publicly owned financial institution traded on NASDAQ under the symbol BKUNA.
 -0- 10/8/92
 /CONTACT: Alfred R. Camner, chief executive officer, or Steven D. Hayworth, chief operating officer of BankUnited, 305-529-2400; or John K. Schulte, of Schulte Ross & Aguilar, Inc., 305-856-1442, for BankUnited/
 (BKUNA) CO: BankUnited ST: Florida IN: FIN SU: ERN


JB-JJ -- FL007 -- 7893 10/08/92 13:14 EDT
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Publication:PR Newswire
Date:Oct 8, 1992
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