Bank United Acquires Bayshore National Bank's Kingwood Branch

Bank United has announced its intention to acquire the deposits and loans of Bayshore National Bank's Kingwood branch, a move that will transfer $5.5 million in accounts to Bank United's Kingwood branch. The acquisition will take effect on February 11, 1995, and will enable Bank United to expand its reach into the Kingwood market. Bayshore National Bank will retain its seven other branches, with a focus on the Cleveland, Liberty, and Bay Area markets.

Key Takeaways:

• Bank United will acquire the deposits and loans of Bayshore National Bank's Kingwood branch, totaling $5.5 million in accounts.
• The acquisition will transfer all accounts to Bank United's Kingwood branch, located at 4420 Kingwood Dr. at Lake Houston Parkway.
• Bayshore National Bank will retain its seven other branches, with a focus on the Cleveland, Liberty, and Bay Area markets.
• The acquisition will enable Bank United to expand its reach into the Kingwood market and provide customers with access to additional banking services.
• Bank United's business includes a retail banking network of 64 branches in Texas, a mortgage banking network of 131 loan offices in 32 states, and a wholesale banking division that specializes in real estate lending and mortgage instruments.
• Bank United is FDIC insured and an equal housing lender.

Statistics:

• $5.5 million: The total amount of accounts that will be transferred to Bank United's Kingwood branch.
• 64: The number of Bank United branches in Texas.
• 131: The number of Bank United loan offices in 32 states.
• $8.9 billion: Bank United's assets as of September 30, 1994.
• 34: The number of Bank United branches in the greater Houston area.
• 26: The number of Bank United branches in the Dallas/Ft. Worth Metroplex.

Sources:

• PR Newswire, "Bank United Announces Acquisition of Bayshore National Bank's Kingwood Branch"
• Bank United press release, dated January 30, 1995.