| Ticker: BNKU | 50 Charles Lindbergh Boulevard, Suite 500 | |
| Exchange: NASDAQ-National Market | Uniondale, New York 11553 | |
| Industry: Financial | (516) 745-6644 |
| Type of Shares: | Class A Common Shares | Filing Date: | 6/18/96 | |
| U.S. Shares: | 10,500,000 | Offer Date: | 8/8/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $18.00 - $20.00 | |
| Primary Shares: | 9,589,306 | Offer Price: | $20.00 | |
| Secondary Shares: | 910,694 | Gross Spread: | $1.15 | |
| Offering Amount: | $199,500,000 | Selling: | $0.69 | |
| Expenses: | $2,000,000 | Reallowance: | $0.10 | |
| Shares Out After: | - |
| Manager | Tier | Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| Lehman Brothers Incorporated | Co-manager | (212) 640-6129 |
| Smith Barney Inc. | Co-manager | (718) 921-8473 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 9/30/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $746.76 | $421.22 | $327.59 | Assets: | $11,266.64 |
| Net Income: | $41.72 | $26.76 | $23.66 | Liabilities: | $10,740.20 |
| EPS: | $1.35 | $0.87 | $0.76 | Equity: | $526.44 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Bank United Corp. is a broad-based financial services provider to consumers and businesses in Texas and other selected regional markets throughout the United States. Through the Bank, its principal subsidiary, the Company operates 67 Texas-based community banking branches serving nearly 182,000 households and businesses, 9 commercial banking offices and a nationwide network of mortgage offices. At March 31,1996, the Company had consolidated total assets of $11.3 billion, total deposits of $5.0 billion and total stockholders' equity of $526.4 million. Upon completion of this offering, the Company will be the largest publicly traded depository institution headquartered in Texas, in terms of both assets and deposits. The Company was incorporated in Delaware on December 19, 1988 as USAT Holdings Inc. and became the holding company for the Bank upon the Bank's formation on December 30, 1988. |
| Use of Proceeds |
| The proceeds from the proposed offering will be distributed to selling shareholders. |
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