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: June 19, 1998
BANKUNITED FINANCIAL CORPORATION
(Exact name of Registrant as specified in its charter)
FLORIDA 5-43936 65-0377773
(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
255 ALHAMBRA CIRCLE, CORAL GABLES, FLORIDA 33134
(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 regarding
the completion of BankUnited Financial Corporation's
acquisition of Central 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/ CLIFFORD A. HOPE
----------------------------------
Clifford A. Hope
Executive Vice President and
Chief Financial Officer
Dated: June 19, 1998
<PAGE>
BANKUNITED FINANCIAL CORPORATION
FORM 8-K
INDEX TO EXHIBITS
Sequentially
Exhibit Numbered
NO. PAGE
20.1 Press Release regarding the completion of
BankUnited Financial Corporation's acquisition
of Central Bank
Exhibit 20.1
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<CAPTION>
<S> <C> <C> <C>
Alfred R. Camner Clifford A. Hope
Chief Executive Officer Chief Financial Officer
BANKUNITED Contacts:
Florida's Premier Bank James A. Dougherty Deborah L. Koch
Chief Operating Officer Press Contact
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N E W S R E L E A S E
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FOR IMMEDIATE RELEASE Contact: Clifford A. Hope
June 22, 1998 305-569-2000
BANKUNITED COMPLETES CENTRAL BANK ACQUISITION
CORAL GABLES, FL - BankUnited Financial Corporation today announced the
completion of the acquisition of Miami-based Central Bank.
The deal, worth approximately $22.8 million in stock, boosted BankUnited's
assets by $93 million. Central Bank's $64 million in deposits added to
BankUnited's presence in Miami-Dade County with four branches located in Miami
Lakes, Coral Gables, Doral and Hialeah.
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 four highly visible offices in Miami-Dade County to our
growing branch network."
"Now that the acquisition is complete, Central Bank 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 second largest financial institution headquartered in Florida.
BankUnited had assets of $3.3 billion as of March 31, 1998. It operates 24
banking offices throughout Miami-Dade, Broward and Palm Beach Counties. In
January 1998, BankUnited completed its acquisition of Consumers Savings Bank,
formerly a $101 million Coral Gables-based bank.
BankUnited Financial Corporation is traded on the Nasdaq National Market. Its
common stock trades under the symbol BKUNA. BankUnited Capital II trust
preferred securities trade on NASDAQ under the symbol BKUNZ. BankUnited Capital
III trust preferred securities trade on the New York Stock Exchange under the
symbol BUFPrC.
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Distributed by: Boardroom Communications AT (954) 321-6334/Eveliny Ingle/Julie
Silver
BankUnited Financial Corporation o BankUnited, FSB o 255 Alhambra Circle o Coral
Gables, Florida 33134 o (305) 569-2000
