Texas Headquartered Bank United to Buy $1.4 Billion in Deposits

    HOUSTON, Oct. 7 /PRNewswire/ -- Houston headquartered Bank United Corp.
(Nasdaq: BNKU) and its subsidiary Bank United (NYSE: BKU) today announced an
agreement to purchase 18 branches from Guardian Savings and Loan Association.
The branches, six located in the Houston area and twelve located in the
Dallas/Ft. Worth Metroplex, have combined deposits of $1.44 billion.  Last
month, Bank United also agreed to purchase three branches in the Dallas area,
with $66 million in deposits, from California Federal Savings, FSB.  Final
closing of these transactions is subject to regulatory approval.
    "These acquisitions are important to Bank United's focus on increasing our
market share and deposit base in our primary market areas of Houston and the
Dallas/Ft. Worth Metroplex, said Bank United Chairman and President Barry C.
Burkholder.  "We also will be able to offer access to more branches, ATMs,
drive-thru facilities, transaction accounts, and other financial products and
services to the forty thousand households in Guardian's deposit base."
    Bank United, a federally chartered savings bank, is the largest publicly
traded bank headquartered in Texas with assets of $11.4 billion and deposits
of $5 billion.  The bank's business is conducted through a community banking
network of 70 branches in Texas, 37 located in the Houston area, 29 located in
the Dallas/Ft. Worth Metroplex, and two each in Austin and San Antonio; a
branch and credit card processing center in Phoenix, Arizona; a commercial
banking group with 10 regional offices; 5 wholesale mortgage origination
offices; and a financial markets business.  Bank United is FDIC insured and an
equal housing lender.

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