Buyout of Herald National Bank Investigated by Tripp Levy PLLC

Tripp Levy PLLC, a leading national securities law firm, announces an investigation into the proposed acquisition of Herald National Bank (NYSE AMEX: HNB) by BankUnited Inc. (NYSE: BKU) for all the outstanding common shares of HNB for a value equal to $1.35 plus the value of 0.0990 shares of BKU common stock. Based on the closing price of BKU’s common stock at the close of business on June 1, 2011, the transaction values each share of HNB common and preferred stock at $4.13.

The investigation concerns, among other things, whether the consideration to be paid to HNB shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of Herald. Indeed, the book value alone of HNB is approx. the same value as the buyout price of $4.13 per share. The investigation further concerns whether the board of directors of HNB may have breached their fiduciary duties by not acting in HNB shareholders' best interests in connection with the sale process of HNB.

If you own HNB common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact

Tripp LevyTripp Levy PLLC125 East 82nd Street9th FloorNew York, New YorkToll Free: 877-772-3975Email: [e-mail]

Tripp Levy PLLC is a national law firm that specializes in mergers & acquisitions, takeover litigation, shareholder rights, and corporate governance matters in state and federal courts throughout the United States.

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