BBX Capital Inc (BBXIA)

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BankAtlantic Bancorp Responds to Recent Speculation
Date : 12/15/2010 @ 6:15PM
Source : Business Wire
Stock : (BFCF)
Quote : 0.25 0.022 (9.65%) @ 5:00PM


BankAtlantic Bancorp Responds to Recent Speculation
Bfc Fin Corp CL A # (USOTC:BFCF)
Intraday Stock Chart
Today : Wednesday 15 December 2010
BankAtlantic Bancorp, Inc. (NYSE: BBX) (the “Company”) is aware of recent press reports speculating that a large out of state bank is considering expanding into Florida through acquisitions. Some of the news stories have identified BankAtlantic Bancorp as one of the subjects of this reported interest.

BankAtlantic Bancorp’s Chairman and Chief Executive Officer, Alan B. Levan, commented, “It has been BankAtlantic Bancorp’s long-standing practice not to comment or respond to rumors in the marketplace.

“However, we would note that while we have in the past expressed our intention to remain an independent financial institution, we believe it is in our shareholders’ best interest for us to be flexible and open to opportunities as they may be presented. Given the challenges of the current economic environment, we recognize the need to be nimble, prepared and comprehensive in the options we consider. Management continues to aggressively focus on reducing expenses, returning to profitability, evaluating available alternatives to reduce our level of nonperforming assets, and continuing to focus on capital in order to provide BankAtlantic with strategic flexibility.

At September 30, 2010, BankAtlantic’s capital ratios were:

Total risk-based capital of 12.59%.
Tier 1 risk-based capital of 10.59%.
Core capital of 7.17%.
“In addition, as indicated below, BankAtlantic’s capital ratios have been stable over the last four years.

Capital Ratios (BankAtlantic) as of:

12/2006 12/2007 12/2008 12/2009 6/2010
Core 7.55% 6.94% 6.80% 7.58 % 7.36%
Tier 1 Risk-Based 10.50% 9.85% 9.80% 10.63% 10.87%
Total Risk-Based 12.08% 11.63% 11.63% 12.56% 12.86%


Alan B. Levan, continued, “We are proud to have provided our customers with financial solutions in these difficult times and to have met their banking needs. We plan to continue to work hard to meet our customers’ needs and continue to provide a high level of service, which we believe contributed to BankAtlantic being ranked ‘Highest Customer Satisfaction with Retail Banking in Florida’ by J.D. Power and Associates.”

About BankAtlantic Bancorp: BankAtlantic Bancorp (NYSE: BBX) is a bank holding company and the parent company of BankAtlantic.

About BankAtlantic:

BankAtlantic, Florida’s Most Convenient Bank, is one of the largest financial institutions headquartered in Florida. Via its broad network of community branches and conveniently located ATMs, BankAtlantic provides a full line of personal, small business and commercial banking products and services. BankAtlantic is open 7 days a week and offers extended weekday hours, holiday hours, Online Banking & Bill Pay, a 7-Day Customer Service Center, Change Exchange coin counters, as well as retail and business checking accounts.

For further information, please visit our websites:

www.BankAtlanticBancorp.com

www.BankAtlantic.com

To receive future BankAtlantic Bancorp news releases or announcements directly via Email, please click on the Email Broadcast Sign Up button on our website: www.BankAtlanticBancorp.com.

Except for historical information contained herein, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and these statements involve substantial risks and uncertainties, including that the Company may not be presented with attractive opportunities, that the Company may continue to incur losses and may not achieve profitability and that actual performance may differ materially from that contemplated, expressed, or implied by the forward-looking statements contained herein.