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| SBA Grants Bank United Preferred Lender Status in 31 New Districts Nationwide |
HOUSTON, Jan. 6 /PRNewswire/ -- Bank United, the nation's 8th largest SBA
lender in 1999 announced that the SBA has granted the bank Preferred Lender
Program (PLP) in 31 additional areas effective December 22, 1999. The
additional new areas give Bank United Preferred Lender status in 21 states.
"SBA lending continues to be a major focus for us and the addition of
these new areas in key markets will allow us to continue to progress as one of
the nation's top SBA lenders," said Bank United Chairman and CEO Barry C.
Burkholder.
The recent approval by the SBA adds PLP areas in the following states to
Bank United's home base in Texas: New York, Pennsylvania, New Jersey,
Massachusetts, Florida, Alabama, Kentucky, Michigan, Ohio, Wisconsin,
Arkansas, Oklahoma, Iowa, Colorado, Montana, California, Arizona, Washington,
Oregon, and Idaho.
In only 5 years, Bank United has grown to become one of the nation's
largest SBA lenders moving into the top 10 last year as well as being the
#1 SBA lender in Texas. Bank United has developed a series of products for
small businesses that offer flexibility and convenience including Internet
banking, check accessible revolving credit lines and a high yielding money
market account.
Bank United, a federally chartered savings bank, is a subsidiary of
Houston-headquartered Bank United Corp. (Nasdaq: BNKU), the largest publicly
traded depository institution headquartered in Texas, with $16.2 billion in
assets, $7.5 billion in deposits and $753 million in stockholders' equity.
Bank United operates a community banking network of 152 branches in Texas,
including 64 located in the greater Houston area, 79 located in the
Dallas/Fort Worth Metroplex, five in Midland, and two each in Austin and San
Antonio; a national middle market commercial banking group with 20 regional
offices in 16 states; a wholesale mortgage origination group with 11 offices
in ten states; a Small Business Administration ("SBA") lending group with
23 lending offices in 16 states; and operates a national mortgage servicing
business, and an investment portfolio business. The bank's website can be
found at http://www.bankunited.com. Bank United is FDIC insured and an equal housing
lender.
SOURCE Bank United Corp.
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CONTACT:
Vern Stockton, Media Relations, 713-543-6920,
or Debbie Kemple, Investor Relations, 713-543-6926, both of Bank
United Corp.
