SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of
the Securities Exchange Act of 1934
Date of Report: September 23, 1997
BANKUNITED FINANCIAL CORPORATION
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(Exact name of Registrant as specified in its charter)
FLORIDA 5-43936 65-0377773
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(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
255 ALHAMBRA CIRCLE, CORAL GABLES, FLORIDA 33134
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(Address of principal executive offices) (ZIP Code)
Registrant's telephone number, including area code: (305) 569-2000
<PAGE>
Item 5. OTHER EVENTS.
Attached hereto as Exhibit 20.1 is a press release announcing
that BankUnited Financial Corporation had agreed to acquire
Consumers Savings Bancorp, Inc., parent company of Consumers
Savings Bank.
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
BANKUNITED FINANCIAL CORPORATION
By:/S/ NANCY L. ASHTON
---------------------------------
Nancy L. Ashton
Senior Vice President and
Assistant Secretary
Dated: September 23, 1997
<PAGE>
BANKUNITED FINANCIAL CORPORATION
FORM 8-K
INDEX TO EXHIBITS
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SEQUENTIALLY
EXHIBIT NUMBERED
NO. PAGE
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20.1 Press Release regarding acquisition of Consumers Bancorp, Inc. 6
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Exhibit 20.1
Contacts:
Alfred R. Camner
Chief Executive Officer
NEWS RELEASE
James A. Dougherty
BANKUNITED Chief Operating Officer
Nasdaq National Market: BKUNA Samuel Milne
Chief Financial Officer
PHONE (305) 569-2000
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BankUnited Financial Corporation
* 255 Alhambra Circle * Coral Gables, Florida 33134
BankUnited, FSB * Private And Relationship Banking
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FOR IMMEDIATE RELEASE
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September 19, 1997
CORAL GABLES-BASED BANKUNITED TO ACQUIRE
CONSUMERS SAVINGS BANK
CORAL GABLES, FLA. -- Coral Gables-based BankUnited has agreed to acquire
Consumers Savings Bancorp, Inc., parent company of Consumers Savings Bank for
approximately $11 million, in a combination of cash and stock, announced Alfred
R. Camner, Chairman and CEO of BankUnited
Consumers Savings Bank, with assets of $102 million and deposits of $82 million
at June 30, 1997, operates two South Florida banking offices in Coral Gables and
Hallandale. Additionally, it is in the process of opening a third office near
The Falls Shopping Center in south Dade County.
Camner stated, "We fully expect that this transaction will be accretive to
earnings during our next fiscal year. The acquisition of Consumers will enable
us to strengthen our overall customer base in Dade and Broward counties as well
as increase our branch network in Dade County. This transaction further
demonstrates our continued pursuit of our goal to become one of the primary
South Florida- based banking franchises. As previously announced, we continue to
project that our asset base will exceed $2 billion by September 30 and we
anticipate additional significant growth during the next year including this
transaction."
Bernard, Janis, Chairman of the Board and CEO of Consumers Savings Bank, said,
:We're very pleased with this transaction, since BankUnited offers a comparable
product line to ours, and we feel this transaction benefits the shareholders and
customers of both institutions."
BankUnited FSB, the second largest savings institution headquartered in Florida
and the principal subsidiary of BankUnited Financial Corporation (Nasdaq:BKUNA),
is a federal savings bank with assets of $1.8 billion and 15 banking offices
throughout Dade, Broward and Palm Beach counties.
BankUnited Financial Corporation trades on the Nasdaq National Market. Its
common stock trades under the symbol BKUNA, and its preferred stocks trade under
the symbols, BKUNP, BKUNO, BKUNN and BKUNZ.
* * *
CONTACT: SAMUEL MILNE, CFO, BANKUNITED (305) 569-2000
Distributed by: Boardroom Communications, Inc., (954) 321-6334
Contact: Linda Greck or Julie Silver,
