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BANKUNITED EARNINGS UP 177 PERCENT FOR QUARTER; ASSETS UP 21 PERCENT; STOCKHOLDERS' EQUITY & CORE CAPITAL UP 40 PERCENT OVER YEAR AGO TOTALS

BANKUNITED EARNINGS UP 177 PERCENT FOR QUARTER; ASSETS UP 21 PERCENT; STOCKHOLDERS' EQUITY & CORE CAPITAL UP 40 PERCENT OVER YEAR AGO TOTALS
 CORAL GABLES, Fla., Jan. 22 /PRNewswire/ -- BankUnited (NASDAQ: BKUNA), a savings bank serving both coasts of Florida, has reported record high first quarter net earnings of $557,604 ($.40 per share) on total income of $5,765,410 for the three months ended Dec. 31, 1991, a gain of 177 percent over its net earnings of $201,640 ($.14 per share) on total income of $5,482,071 for the same quarter of 1990.
 In announcing the earnings, Alfred R. Camner, chairman and chief executive officer of BankUnited, stated, "This is by far our best first quarter ever, and it is an excellent beginning upon which to build the current fiscal year. Based upon current results and future projections, we believe that fiscal 1992 will be BankUnited's fifth consecutive record-setting year.
 "In the quarter just ended, our core earnings strength was derived from a 59 percent gain in net interest income. Our core operations in private banking, community relationship banking and residential first mortgage lending all contributed to the increased profits.
 "Compared to a year ago, BankUnited's financial gains are extremely solid. Assets are up 21 percent to $274 million, deposits are up 12 percent to $211 million, and stockholders' equity and core capital are both up 40 percent to $17.8 million."
 BankUnited's capital ratios are far in excess of the regulatory requirements, and will support important growth in the years ahead. As of Dec. 31, 1991, tangible capital is 6.5 percent vs. 1.5 percent required, core capital is 6.5 percent vs. 3 percent required, and risk-based capital is 14.4 percent vs. 7.2 percent required.
 BankUnited operates seven banking offices in Florida: Bonita Springs, Venice, Bradenton, Coral Gables, Tamarac, Coral Springs and Delray Beach. It is a publicly owned financial institution traded on NASDAQ under the symbol BKUNA.
 -0- 1/22/92
 /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, 305-856-1442, for BankUnited/
 (BKUNA) CO: BankUnited ST: Florida IN: FIN SU: ERN


SS-AW -- FL012 -- 2439 01/22/92 15:44 EST
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Date:Jan 22, 1992
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