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BANKUNITED COMPLETES SALE OF $3 MILLION OF PREFERRED STOCK

 BANKUNITED COMPLETES SALE OF $3 MILLION OF PREFERRED STOCK
 CORAL GABLES, Fla., Nov. 12 /PRNewswire/ -- BankUnited (NASDAQ: BKUNA), a savings bank serving both coasts of Florida, has sold $3 million of 10 percent Non-Cumulative Preferred Stock in a public offering.
 The issue consisted of 120,000 shares of Series G stock sold at $25 per share. With the culmination of the sale, BankUnited's tangible and core capital ratios both exceed 6.9 percent, compared to the regulatory requirements of 1.5 percent tangible and 3 percent core. Its risk-based ratio exceeds 15 percent, vs. the 7.2 percent requirement.
 Alfred R. Camner, chairman of BankUnited, stated, "Our growth potential convinced management to raise additional capital to bolster our excellent earnings. At present, BankUnited's capital ratios are far in excess of the regulatory requirements, and our goal is to continue accumulating capital. This will provide for the bank's planned growth, including possible future acquisitions."
 BankUnited has assets exceeding $345 million and 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.
 The $3 million Preferred Stock issue was sold through an affiliate of J.W. Charles & Company of Boca Raton, Fla.
 -0- 11/12/92
 /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 Savings Bank ST: Florida IN: FIN SU: DIV


JB-AW -- FL003 -- 0099 11/12/92 10:23 EST
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Publication:PR Newswire
Date:Nov 12, 1992
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