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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 (Date of earliest event reported): March 22, 1999
BANK UNITED CORP.
(Exact name of registrant as specified in its charter)
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DELAWARE 0000906420 74-1778313
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification No.)
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3200 SOUTHWEST FREEWAY, SUITE 1600
HOUSTON, TEXAS 77027
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (713) 543-6958
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ITEM 5. OTHER EVENTS.
On March 22, 1999, Bank United Corp. issued the press release filed
herewith.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits. The following material is filed as an exhibit to this
Current Report on Form 8-K:
EXHIBIT
NUMBER DESCRIPTION OF EXHIBIT
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99.1 Press release of Bank United Corp. dated March 22, 1999.
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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 thereunto duly authorized.
BANK UNITED CORP.
By: /s/ JONATHON K. HEFFRON
Jonathon K. Heffron
Executive Vice President, General
Counsel and Chief Operating Officer
Dated: March 24, 1999
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EXHIBIT INDEX
EXHIBIT PAGE
NUMBER DESCRIPTION NUMBER
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99.1 Press release of Bank United Corp. dated March 5
22, 1999.
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EXHIBIT 99.1
BANK UNITED WINS LIABILITY RULING IN SUIT AGAINST
FEDERAL GOVERNMENT
HOUSTON, TX; March 22, 1999 - United States Court of Federal Claims Chief Judge
Loren A. Smith on Friday ruled that the United States was liable for claims in
the case filed by Bank United Corp. (NASDAQ:BNKU) relating to the government's
breach of promises made when the company acquired a failed savings and loan
association in late 1988. Bank United's case will now proceed to trial on the
amount of damages. The trial is scheduled to begin on May 3, 1999.
This case arose from the failure of the United States to honor certain
contractual obligations undertaken when Bank United acquired from the FSLIC in
1988 the deposits and certain assets and other liabilities of United Savings
Association of Texas, an insolvent savings and loan. The suit seeks substantial
damages, of approximately $500 million.
Barry C. Burkholder, president and CEO of Bank United Corp., commented, "The
Government failed to honor its contractual obligations with respect to capital
forbearances and other matters. We are pleased with the Chief Judge's ruling and
we are diligently preparing for trial."
Bank United Corp. is the largest publicly-traded bank headquartered in Texas,
with assets of $14.8 billion, deposits of $6.3 billion, and stockholders' equity
of $706 million. Bank United Corp., through Bank United, currently operates a
94-branch community banking network in Texas, including 46 in the greater
Houston area, 39 in the Dallas/Fort Worth area, 5 in Midland, and two each in
Austin and San Antonio; a commercial banking group with 19 regional offices in
16 states; 9 wholesale mortgage origination offices; a mortgage servicing
business; and a financial markets business.
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