Bull & Lifshitz, LLP Announces Investigation of the Acquisition of Herald National Bank

Bull & Lifshitz, LLP announces an investigation into possible breaches of fiduciary duty in connection with the proposed sale of Herald National Bank (NYSE AMEX: HNB - News) (referred to as "HNB" or the “Company”) to BankUnited, Inc. (“BKU”).

Under the terms of the agreement, which has been approved by both boards of directors, holders of HNB common and preferred stock will have the right, subject to proration, to elect to receive cash or BKU common stock, in either case having a value equal to $1.35 plus the value of 0.0990 shares of BKU common stock. The total consideration is expected to consist of approximately $22.9 million in cash and approximately 1.7 million shares of BKU common stock.

Bull & Lifshitz, LLP's investigation is focused on whether the proposed deal provides adequate value to the Company’s shareholders.

If you are a holder of HNB stock and want to discuss your legal rights, you may e-mail or call Bull & Lifshitz, LLP who will, without obligation or cost to you, attempt to answer your questions.

If you are a shareholder of HNB and would like more information about our investigation, please contact Joshua M. Lifshitz, Esq. by telephone at [phone] or by sending an e-mail including your contact information to: [e-mail]. All e-mail correspondence should make reference to HNB.

Bull & Lifshitz, LLP is a New York City-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please visit our website at www.nyclasslaw.com.

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