Bank United Corp. said last week it is buying 18 Texas branches with combined deposits of $1.44 billion from Guardian Savings and Loan Association. Terms were not disclosed.
The deal for six branches in the Houston area and 12 in Dallas-Fort Worth is contingent on regulatory approval. A Bank United spokesman said he had no indication of when such approval might come.
Last month Bank United agreed to purchase three branches in the Dallas area, with $66 million of deposits, from California Federal Savings. That deal also awaits regulatory approval.
Bank United is focusing on increasing its market share and deposit base in the two cities and surrounding areas, Bank United chairman Barry C. Burkholder said in a prepared statement. The Guardian branches serve 40,000 households.
Bank United, a federally chartered savings bank with 70 branches in Texas, has assets of $11.4 billion and deposits of $5 billion.