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: January 23, 1998
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
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Item 5. Other Events.
Attached hereto as Exhibit 20.1 is a press release regarding
the completion of BankUnited Financial Corporation's
acquisition of Consumers Bancorp, Inc.
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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/ Samuel A. Milne
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Samuel A. Milne
Executive Vice President and
Chief Financial Officer
Dated: February 3, 1998
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BANKUNITED FINANCIAL CORPORATION
FORM 8-K
INDEX TO EXHIBITS
Sequentially
Exhibit Numbered
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20.1 Press Release regarding the completion of BankUnited Financial
Corporation's acquisition of Consumers Bancorp, Inc.
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Exhibit 20.1
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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
January 26, 1998
BANKUNITED COMPLETES CONSUMERS SAVINGS BANK ACQUISITION
CORAL GABLES, FL -- BankUnited Financial Corporation today announced the
completion of the acquisition of Coral Gables-based Consumers Savings Bancorp,
parent company of Consumers Savings Bank.
The deal, worth approximately $13 million in cash and stock, boosted
BankUnited's assets by $101 million. Consumers' $84 million in deposits added to
BankUnited's presence in South Florida especially in South Miami-Dade County
near The Falls Shopping Mall.
Alfred R. Camner, Chairman and Chief Executive Officer of BankUnited, stated,
"This acquisition follows our corporate goal of building a significant banking
franchise based in South Florida. Additionally, it allowed us to increase our
market presence and add a highly visible office in South Miami-Dade to our
growing branch network."
"Now that the acquisition is complete, Consumers' customers will see little
difference in the day-to-day operations of the bank. They will notice the
excellent customer service and expanded access to branch offices that BankUnited
brings to the banking relationship," he added.
BankUnited, FSB, is the principal subsidiary of BankUnited Financial Corporation
and is the fastest growing savings bank in America as reported in the
publication, American Banker. BankUnited, a federal savings bank, had assets of
$3.0 billion as of December 31, 1997. It operates 18 banking offices throughout
Miami-Dade, Broward and Palm Beach Counties. In December, 1997, the Company
agreed to acquire Central Bank, a $96 million bank, in a transaction that is
anticipated to close in the second quarter of fiscal 1998.
BankUnited Financial Corporation is traded on the Nasdaq National Market., Its
common stock trades under the symbol BKUNA. Preferred stocks trade under the
symbols BKUNO, BKUNP and BKUNZ.
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/CONTACT: BANKUNITED, (305) 569-2000, ALFRED R. CAMNER, CHAIRMAN, AND SAMUEL MILNE, CFO
Distributed by: Boardroom Communications, Inc., Plantation, FL
Ph: (305) 321-6334
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