Bank United Corporation , headquartered in Houston, Texas, is the largest broad-based financial services provider and largest public stock storage company headquartered in Texas before the merger with Washington Mutual in 2001. Bank United Corp. does business through a wholly owned subsidiary, Bank United, a federal charter bank. The company operates a 155-branch community banking network in Texas, including 77 in the Dallas/Fort Worth Metroplex, 66 in the greater Houston area, five in Midland, four in Austin, and three in San Antonio; operates 19 SBA loan offices in 14 countries; is a national mid-market commercial bank with 23 regional offices in 16 countries; derived mortgage loans through 11 wholesale offices in 10 countries; operates a national mortgage service business that serves about 324,000 customers, and manages an investment portfolio. On June 30, 2000, Bank United Corp. had assets of $ 18.2 billion, deposits of $ 8.8 billion, and shareholder equity of $ 823 million.
Video Bank United of Texas
Histori
In late 1988, Lewis Ranieri and his investor group Ranieri Wilson & amp; The company acquired deposits and 19 offices of savings associations and loans that have no loans named United Savings Association of Texas from the Federal Savings and Credit Insurance Company for $ 200 million to create United United New Savings Association FSB.
In May 1990, United Savings acquired deposits and 4 offices of the bankrupt Ameriway Savings Association of Resolution Trust Corporation for $ 981 thousand.
In June 1990, United Savings acquired deposits and 19 offices of the Murray Savings Association of Dallas from Resolution Trust Corporation for $ 809 million.
In September 1991, United Savings acquired from Resolution Trust Corporation, deposits and 20 offices of the $ 34.3 million San Jacinto Savings Association and also deposits and 6 offices of the failed BancPlus Federal Savings Association in Pasadena for $ 1, 7 million.
In October 1991, United Savings obtained from the Resolution Trust Corporation, only deposits from 1 office of the bankrupt Victorian Savings Association in San Antonio with a $ 250 premium.
In September 1992, the United Savings Association FSB, formed of six failed Texas, was renamed the Bank of Texas FSB.
In 1996, the private holding company started selling shares through a temporary IPO, the original investors took this opportunity to monetize their initial investment by selling their original stock. The Federal Deposit Insurance Corporation held a warrant valued at 1.5 million common shares redeemed at the time.
In early 1997, Bank United petitioned the Currency Supervisory Office to convert its charter from a federal bank into a commercial bank but subsequently withdrew its petition.
In January 1999, Bank United announced that it had signed an agreement with Kroger to open 50 more branches in Kroger supermarkets in the metropolitan areas of Houston and Dallas-Fort Worth previously occupied by Bank of America and NationsBank.
In March 1999, Bank United announced the pending acquisition of Texas Central Bancshares with a 3-branch branch of Texas Central Bank for an undisclosed amount. This acquisition was completed in August 1999.
Washington Mutual
In August 2000, Washington Mutual announced the pending acquisition of Houston-based Bank United Corporation with its 155 branches, all located in Texas, for $ 1.49 billion. This acquisition was completed in February 2001.
As a result of overlapping branches between Bank United and Washington Mutual, 17 branch offices were closed in Texas, 10 of which were in Houston.
Maps Bank United of Texas
References
External links
- Archived official website (2000)
Source of the article : Wikipedia
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