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Article: Washington Mutual to Buy Houston-Based Bank United.(Knight Ridder/Tribune Business News)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- August 22, 2000
- Author:
CopyrightCOPYRIGHT 2000 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Aug. 22--Washington Mutual Inc. announced Monday that it will purchase Bank United Corp., a Houston-based thrift that's one of the largest independent banks in Texas, for $1.5 billion.
Seattle-based Washington Mutual, the nation's largest thrift, wants to gain a strong foothold in Texas. Its purchase of Bank United would be the last sale of a major Texas thrift reorganized after the 1980s S&L crisis.
"We have a lot of respect for what has been built at Bank United," said Kerry Killinger, Washington Mutual's chairman and chief executive officer. "This is the right time because of the attractiveness of the Texas market."
Washington Mutual wants ...