HOUSTON, Sept. 8 /PRNewswire/ -- Bank United Corp. (Nasdaq: BNKU) and
Midland American Bancshares today announced a definitive merger agreement in
which Bank United Corp., parent of Bank United, would purchase Midland
American Bancshares, parent of Midland American Bank, a commercial bank
operating five branches in Midland, with assets of $229 million and $209
million in deposits.  The acquisition is expected to close in early 1999,
pending regulatory approval.
    Bank United is the largest depository institution headquartered in Texas,
with assets of $13.1 billion, deposits of $6.4 billion, and stockholders'
equity of $669 million.  With this acquisition, Bank United will enter the
west Texas market for the first time.
    Midland American Bank President and CEO John E. Grist will continue to
serve as president of the Midland American Bank Division of Bank United and
there will be continuity of the remaining management and employees in Midland.
    "This merger will create market opportunities that can fuel growth in all
of Bank United's Texas markets," said Bank United Corp. President and CEO
Barry C. Burkholder.  "Midland and Odessa will provide new markets for Bank
United's competitive consumer and small business products, while all of Bank
United's Texas markets will be enhanced by the addition of Midland American's
expertise in the energy industry."
    John Grist added, "This is an outstanding transaction for our customers,
who will continue to be served by our current staff of dedicated hometown
professionals.  In addition, Bank United's very impressive array of products
and resources, including the convenience of 82 offices in other major Texas
metropolitan areas, will allow us to better serve the growing financial needs
of our customers.  This merger also will give us the opportunity to increase
our commercial lending relationships and sizes of loans based on Bank United's
access to capital."
    "We are excited about the opportunity to serve Midland American's
customers, both retail and commercial," Burkholder noted.  "We are absolutely
committed to the Midland and Odessa area and plan to be part of this important
growing area of Texas."
    Bank United Corp., through Bank United, operates an 82-branch community
banking network in Texas, including 42 in the greater Houston area, 36 in the
Dallas/Fort Worth area and two each in Austin and San Antonio; a commercial
banking group with 21 regional offices in 18 states; 6 wholesale mortgage
origination offices; a mortgage servicing business; and a financial markets
business.

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