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STOCKHOLDERS OF BANKUNITED RE-ELECT THREE DIRECTORS; CHAIRMAN REPORTS ON 1991 RECORD RESULTS AND STRONG FIRST QUARTER FOR 1992 FISCAL YEAR

STOCKHOLDERS OF BANKUNITED RE-ELECT THREE DIRECTORS; CHAIRMAN REPORTS ON 1991 RECORD RESULTS AND STRONG FIRST QUARTER FOR 1992 FISCAL YEAR
 CORAL GABLES, Fla., Jan. 31 /PRNewswire/ -- Stockholders at BankUnited's (NASDAQ: BKUNA) annual meeting were told about the savings bank's record performance during 1991, and learned that fiscal 1992 began with further earnings gains.
 In his address to stockholders, Board Chairman Alfred R. Camner stated, "Among our major accomplishments last year was a 40 percent increase in the bank's stockholders' equity and core capital. All of our levels of capital far exceed the current and fully phased-in government requirements and will permit us to pursue continued growth during the coming year.
 "In fiscal 1991, we achieved our fourth consecutive year of record high earnings. We also attained new highs in net interest income, assets, deposits, loan portfolio and the previously mentioned stockholders' equity and capital levels.
 "This trend continued during the first quarter of fiscal 1992 (three months ended 12-31-91) when earnings soared 177 percent to $557,604. BankUnited now has reported higher comparative earnings in 16 of the last 17 quarters, an accomplishment which demonstrates the consistently high level of performance by our employees.
 "Your bank's core operations in private banking, community relationship banking and residential first mortgage lending all contributed to the increased profits and other financial gains.
 "As of Dec. 31, 1991, 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. Our tangible capital is 6.5 percent vs. 1.5 percent required, our core capital is 6.5 percent vs. 3 percent required, and our risk-based capital is 14.4 percent vs. 7.2 percent required.
 "Based upon current results and future projections, we believe that fiscal 1992 will be BankUnited's fifth consecutive record setting year."
 Re-elected to the bank's board of directors were Earline G. Ford, executive vice president of the bank; Allen M. Bernkrant, private investor; and Robert D. Lurie, chairman and president of Resources for Child Care Management, Inc.
 Holdover directors are Camner; Steven D. Hayworth, chief operating officer of the bank; Lawrence H. Blum, partner in the CPA firm of Rachlin & Cohen; Patricia L. Frost, principal of West Laboratory School; Marc D. Jacobson, vice president of Head-Beckham Insurance Agency, Inc.; and Anne W. Solloway, private investor.
 BankUnited is a publicly owned financial institution with its Class A common stock traded on NASDAQ under the symbol BKUNA. It has its corporate headquarters in Coral Gables and seven banking offices serving both coasts of Florida. They are located in Bonita Springs, Venice, Bradenton, Tamarac, Coral Springs, Coral Gables and Delray Beach.
 -0- 1/31/92
 /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:


AW-JJ -- FL009 -- 5668 01/31/92 13:54 EST
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Date:Jan 31, 1992
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