Bank United Completes Acquisition of Texas Central Bancshares

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Bank United Completes Acquisition of Texas Central Bancshares

    HOUSTON, Aug. 27 /PRNewswire/ -- Houston-headquartered Bank United Corp.
(Nasdaq: BNKU, NYSE: BKP) parent of Bank United (NYSE: BKU PrA, BKU PrB) today
announced the completion of its acquisition of Texas Central Bancshares, Inc.,
parent of Texas Central Bank, a commercial bank operating three branches, one
in Dallas, one in the Park Cities area, and one in Plano, with combined assets
of $124 million and $103 million in deposits.
    "We are excited about the opportunity to serve Texas Central's commercial
and retail customers," said Bank United Corp. President and CEO Barry C.
Burkholder.  "This merger will create market opportunities that will expand
Bank United's commercial banking business in the important Dallas/Ft. Worth
marketplace.  Bank United will obtain additional transaction accounts and
experienced commercial lending officers who will complement Bank United's
substantial business lending programs, which currently include the largest and
fastest growing loan franchise in the state, and a nationwide commercial
middle market lending program."
    "This is an outstanding transaction for our customers, who will gain
access to a very impressive array of products and services, especially the
convenience of 75 offices in the Dallas/Fort Worth area and 70 branches in
other Texas metropolitan areas," said Texas Central Bank Chairman Michael
Ruff.  "This merger will also satisfy the growing credit needs of our
customers through Bank United's increased lending limits."
    Texas Central President and CEO James C. Veirs will lead Bank United's
business lending relationship management efforts in the North Texas region.
    Bank United Corp. today also announced that the company has rescinded the
company's program announced in August 1998 to repurchase shares of the
Company's common stock.
    Bank United Corp. is the largest publicly traded bank headquartered in
Texas with assets of $15.4 billion, deposits of $7.2 billion, and
stockholders' equity of $733 million.  Bank United Corp., through Bank United,
operates a 145-branch community banking network in Texas, including 61 in the
greater Houston area, 75 in the Dallas/Fort Worth area, 5 in Midland, and two
each in Austin and San Antonio; a commercial banking group with 18 regional
offices in 15 states; 18 small business lending offices in 14 states;
10 wholesale mortgage origination offices; a mortgage servicing business; and
a financial markets business.  Bank United is FDIC insured and an equal
housing lender.

SOURCE Bank United Corp.

http://www.bankunited.com
CONTACT:
Vern Stockton, Media Relations, 713-543-6920,
or Debbie Kemple, Investor Relations, 713-543-6926