ARTICLES OF AMENDMENT TO THE RESTATED
ARTICLES OF INCORPORATION OF
1 ST UNITED BANCORP, INC.
CERTIFICATE OF DESIGNATION
SERIES B NON-CUMULATIVE PERPETUAL PREFERRED STOCK
1 st United Bancorp, Inc., a Florida corporation, does hereby amend its Restated Articles of Incorporation by filing the
following amendment to its Restated Articles of Incorporation, pursuant to Section 607.0602 of the Florida Statutes.
The name of the corporation is 1 st United Bancorp, Inc.
Article III of the Restated Articles of Incorporation is amended by adding the following language to the end of
“ D. Series B Non-Cumulative Perpetual Preferred Stock .
The Board of Directors of the corporation authorizes and designates the relative rights and preferences of 460,000 shares
(the “Shares”) of Preferred Stock as Series B Non-Cumulative Perpetual Preferred Stock, no par value, of the corporation
Initial Dividend Rate – The initial dividend rate is 7.65% per annum of the purchase price per Share (i.e., $10.00 per
Share) (computed on the basis of a 365-day year, actual days elapsed) non-cumulative. This initial dividend rate
will be in effect from the issuance date until the earlier of (i) May 2, 2011 (“Reset Date”) or (ii) the redemption of the
(2) Dividend Rate Adjustment – On the Reset Date and on each anniversary thereof, the dividend rate will reset to a
rate equal to the UST Rate (as hereinafter defined) plus 615 basis points. The “UST Rate” is calculated as the rate
of interest, as of the Reset Date and each anniversary date thereof, equal to the weekly average yield on U.S.
Treasury Securities, adjusted to a constant maturity of one year as published from time to time and made available
in Federal Reserve Board Statistical Release H.15 (519) or, if such source is not available, such alternate source as
determined by the corporation.
(3) Dividend Payment