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: February 20, 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.
On January 15, 1998 the Board of Directors of BankUnited
Financial Corporation (the "Registrant") decided to redeem the
8% Noncumulative Preferred Stock, Series 1993 (the "Series
1993 Preferred Stock") at a redemption price of $ 10.00 per
share on February 20, 1998. Holders of 713,464 shares of the
Series 1993 Preferred Stock elected to exercise their right to
convert Series 1993 Preferred Stock to shares of the
Registrant's Series 1 Class A Common Stock ("Class A Common
Stock"). As a result, 713,464 additional shares of Class A
Common Stock were issued upon conversion, and 31,406 shares of
Series 1993 Preferred Stock were redeemed on February 20,
1998.
<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: March 2, 1998
