rrojarom
7 years ago
BBX Capital Real Estate Announces the Grand Opening of Beacon Lake, its Master-Planned Community Near Jacksonville, Florida
FORT LAUDERDALE, FL--(Marketwired - April 20, 2018) - BBX Capital Real Estate, a division of BBX Capital Corporation (NYSE: BBX) ("BBX Capital" or "BBX"), announced today that the grand opening of Phase One of its master-planned community, Beacon Lake, located in St. Johns County near Jacksonville, will take place on Saturday, April 21st from 11:00 a.m. to 3:00 p.m.
The grand opening will feature five furnished and decorated single-family model homes built by Dream Finders Homes and Mattamy Homes -- two highly respected builders with long standing reputations for building high quality homes. Guests at the grand opening will enjoy live music, a family fun zone, food trucks, giveaways and the chance to win prizes. The event is free and open to the public. Guests are asked to pre-register at www.beaconlakegrandopening.eventbrite.com.
Beacon Lakes' planned 8,200 square foot Lake House Amenity and Fitness Center situated on a 43-acre lake is currently under construction. Planned amenities include a splash park, junior Olympic pool, lakeside sand beach and accommodations for paddle-boarding, kayaking, canoeing and many other indoor and outdoor activities. The Lake House is planned to serve as the social hub of Beacon Lake, bringing families together for fun, socialization and relaxation.
BBX Capital Real Estates' Beacon Lake is currently envisioned to consist of approximately 1,476 residential units upon completion, include 1,280 single family homes and 196 townhomes on a 632-acre parcel. The property includes a 43-acre lake nestled within 358 acres of nature preserve. Beacon Lake is conveniently situated on CR-210 between I-95 and US-1, making it an easy commute to Jacksonville and St. Augustine.
About BBX Capital Real Estate: BBX Capital Real Estate is active in the acquisition, ownership and management of real estate development projects and investments in joint ventures. For further information, please visit http://www.bbxcapital.com/bbx-capital-real-estate/overview/
About BBX Capital Corporation: BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB), is a Florida-based diversified holding company whose activities include its 90 percent ownership interest in Bluegreen Vacations Corporation (NYSE: BXG) as well as its real estate and middle market divisions. For additional information, please visit www.BBXCapital.com.
About Bluegreen Vacations Corporation: Bluegreen Vacations Corporation (NYSE: BXG), founded in 1966 and headquartered in Boca Raton, Florida, is a leading vacation ownership company that markets and sells vacation ownership interests (VOIs) and manages resorts in top leisure and urban destinations. Bluegreen's resort network includes 43 Club Resorts (resorts in which owners in the Bluegreen Vacation Club ("Vacation Club") have the right to use most of the units in connection with their VOI ownership) and 24 Club Associate Resorts (resorts in which owners in its Vacation Club have the right to use a limited number of units in connection with their VOI ownership). Through Bluegreen's points-based system, the approximately 213,000 owners in its Vacation Club have the flexibility to stay at units available at any of its resorts and have access to almost 11,000 other hotels and resorts through partnerships and exchange networks. Bluegreen Vacations also offers a portfolio of comprehensive, fee-based resort management, financial, and sales and marketing services, to or on behalf of third parties. Bluegreen is 90% owned by BBX Capital Corporation. For further information, visit www.BluegreenVacations.com.
This press release contains forward-looking statements based on current expectations that involve a number of risks and uncertainties. All opinions, forecasts, projections, future plans or other statements, other than statements of historical fact, are forward-looking statements and include, but not limited to, words or phrases such as "plans," "believes," "will," "expects," "anticipates," "intends," "estimates," "our view," "we see," "would" and words and phrases of similar import. We can give no assurance that such expectations will prove to be correct. Future results could differ materially as a result of a variety of risks and uncertainties, many of which are outside of the control of management. These risks and uncertainties include, but are not limited to the impact of economic, competitive and other factors affecting the Company; the risk that the property and the planned amenities will not be built as contemplated; and the risks that the Company's investment in this or future master-planned community developments or real estate joint ventures may not achieve the returns anticipated or be profitable. In addition to the risks and factors identified above, reference is also made to other risks and factors impacting the Company and BBX Capital Real Estate are detailed in BBX Capital's Annual Report on Form 10-K for the year ended December 31, 2017, including Item 1A. Risk Factors, which is available to view on the SEC's website, www.sec.gov, or on BBX Capital's website, www.BBXCapital.com. The Company cautions that the foregoing factors are not exclusive.
Image Available: http://www.marketwire.com/library/MwGo/2018/4/20/11G150420/Images/BBX_pic_1-2c4053ffffb6997a8d55a9f58b3f9790.jpg
Image Available: http://www.marketwire.com/library/MwGo/2018/4/20/11G150420/Images/BBX_pic_2-798aa9f6c681938ab7c2184131339c4b.jpg
PR Contact:
Maxine McBride, Clockwork Marketing
(904) 280-7960
maxine@clockworkmarketing.com
BBX Investor Relations Contact:
Leo Hinkley
Managing Director, Investor Relations Officer
954-940-5300
Email: LHinkley@BBXCapital.com
rrojarom
7 years ago
FORT LAUDERDALE, FL--(Marketwired - April 20, 2018) - BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB) ("BBX Capital") announced today the final results of its tender offer to purchase up to 6,486,486 shares of its Class A Common Stock at a purchase price of $9.25 per share. The tender offer expired at 5:00 P.M., New York City time, on Tuesday, April 17, 2018.
Based on the final count by Computershare Trust Company, N.A., the Depositary for the tender offer, a total of 7,775,065 shares of BBX Capital's Class A Common Stock were properly tendered and not properly withdrawn. Because the tender offer was oversubscribed, shares were accepted from tendering shareholders on a pro rata basis so that BBX Capital accepted for purchase a total of 6,486,486 shares of its Class A Common Stock. BBX Capital has been informed by the Depositary that the proration factor for the tender offer is approximately 83.4%. The shares accepted for purchase by BBX Capital represent approximately 7.6% of the issued and outstanding shares of BBX Capital's Class A Common Stock and 6.3% of BBX Capital's total issued and outstanding equity, which includes the issued and outstanding shares of BBX Capital's Class B Common Stock, as of April 19, 2018.
The aggregate purchase price for the shares purchased by BBX Capital in the tender offer is approximately $60.0 million, excluding fees and expenses relating to the tender offer. BBX Capital will pay for the shares purchased by it in the tender offer and the related fees and expenses using available cash. The Depositary will promptly issue payment for the shares accepted for purchase in the tender offer and return shares tendered in the tender offer but not accepted for purchase.
Alan B. Levan, Chairman and Chief Executive Officer of BBX Capital, said, "We are pleased that the tender offer was successfully completed and that we were able to provide shareholders with liquidity without disruption to the market price."
BBX Capital expects to cancel all of the shares purchased by it in the tender offer. After giving effect to the purchase and cancellation of the shares, BBX Capital will have approximately 79.2 million shares of Class A Common Stock outstanding.
Shareholders who have questions or would like additional information about the tender offer may contact the Information Agent for the tender offer, Georgeson LLC, toll-free at (800) 248-7690.
About BBX Capital Corporation: BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB), is a Florida-based diversified holding company whose activities include its 90% ownership interest in Bluegreen Vacations Corporation (NYSE: BXG) as well as its real estate and middle market divisions. For additional information, please visit www.BBXCapital.com.
About Bluegreen Vacations Corporation: Bluegreen Vacations Corporation (NYSE: BXG), founded in 1966 and headquartered in Boca Raton, Florida, is a leading vacation ownership company that markets and sells vacation ownership interests (VOIs) and manages resorts in top leisure and urban destinations. Bluegreen's resort network includes 43 Club Resorts (resorts in which owners in the Bluegreen Vacation Club ("Vacation Club") have the right to use most of the units in connection with their VOI ownership) and 24 Club Associate Resorts (resorts in which owners in its Vacation Club have the right to use a limited number of units in connection with their VOI ownership). Through Bluegreen's points-based system, the approximately 213,000 owners in its Vacation Club have the flexibility to stay at units available at any of its resorts and have access to almost 11,000 other hotels and resorts through partnerships and exchange networks. Bluegreen Vacations also offers a portfolio of comprehensive, fee-based resort management, financial, and sales and marketing services, to or on behalf of third parties. Bluegreen is 90% owned by BBX Capital Corporation. For further information, visit www.BluegreenVacations.com.
This press release contains forward-looking statements based on current expectations that involve a number of risks and uncertainties. The forward-looking statements in this press release are also forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Risks and uncertainties include, but are not limited to, those relating to the tender offer described in this press release, including the risk that the expected benefits from the tender offer may not be realized. Reference is also made to the risks and uncertainties detailed in reports filed by BBX Capital with the SEC, including the "Risk Factors" section of BBX Capital's Annual Report on Form 10-K for the year ended December 31, 2017, which may be viewed on the SEC's website at www.sec.gov. BBX Capital cautions that the foregoing factors are not exclusive.
BBX Capital Corporation Contact Info:
Investor Relations:
Leo Hinkley
Managing Director, Investor Relations Officer
954-940-5300
Email: LHinkley@BBXCapital.com
Media Relations Contacts:
Kip Hunter Marketing
954-765-1329
Nicole Lewis / Elysia Volpe
Email: nicole@kiphuntermarketing.com, elysia@kiphuntermarketing.com
stocktrademan
10 years ago
$BBX recent news/filings
bullish
## source: finance.yahoo.com
Mon, 06 Apr 2015 20:07:00 GMT ~ BBX Capital Acquires Kencraft Candy
[Marketwired] - BBX Sweet Holdings, a wholly-owned subsidiary of BBX Capital Corporation , announced today that it has acquired the assets of Kencraft, Inc. "Kencraft Candy." Headquartered in a 50,000 square ...
read full: http://finance.yahoo.com/news/bbx-capital-acquires-kencraft-candy-200700392.html
*********************************************************
Mon, 06 Apr 2015 20:07:00 GMT ~ 4:07 pm BBX Capital acquires Kencraft Candy; terms not disclosed
read full: http://finance.yahoo.com/news/inplay-briefing-com-055139997.html#bbx
*********************************************************
Thu, 02 Apr 2015 20:44:05 GMT ~ BBX CAPITAL CORP Files SEC form 8-K, Material Modification to Rights of Security Holders, Financial Statements and Ex
read full: http://biz.yahoo.com/e/150402/bbx8-k.html
*********************************************************
Tue, 24 Mar 2015 20:27:35 GMT ~ BBX CAPITAL CORP Files SEC form 8-K, Other Events
read full: http://biz.yahoo.com/e/150324/bbx8-k.html
*********************************************************
Sat, 21 Mar 2015 17:04:14 GMT ~ BBX CAPITAL CORP Financials
read full: http://finance.yahoo.com/q/is?s=bbx
*********************************************************
$BBX charts
basic chart ## source: stockcharts.com
basic chart ## source: stockscores.com
big daily chart ## source: stockcharts.com
big weekly chart ## source: stockcharts.com
$BBX company information
## source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/BBX/company-info
Ticker: $BBX
OTC Market Place: Not Available
CIK code: 0000921768
Company name: BankAtlantic Bancorp, Inc.
Company website: http://www.bankatlantic.com
Incorporated In: FL, USA
$BBX share structure
## source: otcmarkets.com
Market Value: Not Available
Shares Outstanding: Not Available
Float: Not Available
Authorized Shares: Not Available
Par Value: Not Available
$BBX extra dd links
Company name: BankAtlantic Bancorp, Inc.
Company website: http://www.bankatlantic.com
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/BBX/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/BBX/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=BBX+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=BBX+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=BBX+Industry
## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/BBX/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/BBX/news - http://finance.yahoo.com/q/h?s=BBX+Headlines
## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/BBX/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/BBX/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/BBX/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/BBX/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/BBX/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/BBX/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/BBX/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/BBX/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=BBX+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/BBX
DTCC (dtcc.com): http://search2.dtcc.com/?q=BankAtlantic+Bancorp%2C+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=BankAtlantic+Bancorp%2C+Inc.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=BankAtlantic+Bancorp%2C+Inc.&x=0&y=0
WHOIS (domaintools.com): http://whois.domaintools.com/http://www.bankatlantic.com
Alexa (alexa.com): http://www.alexa.com/siteinfo/http://www.bankatlantic.com#
Corporate website internet archive (archive.org): http://web.archive.org/web/*/http://www.bankatlantic.com
## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/BBX/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/BBX
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/BBX/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/BBX/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/BBX/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000921768&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/BBX/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/BBX/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/BBX/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/BBX/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=BBX&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=BBX
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/BBX/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=BBX+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=BBX+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=BBX
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=BBX
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=BBX+Cash+Flow&annual
## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/BBX/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=BBX+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/BBX.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=BBX
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/BBX/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/BBX/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/BBX/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/BBX/insider-transactions
## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/BBX
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/BBX
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/BBX:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=BBX
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=BBX
$BBX DD Notes ~ http://www.ddnotesmaker.com/BBX
56Chevy
11 years ago
BFC Financial Corporation Reports Financial Results for the Fourth Quarter and Full Year, 2013
[....]
Under generally accepted accounting principles, the financial statements of the companies in which BFC holds a controlling interest, including BBX Capital and Bluegreen Corporation, are consolidated in the Company's financial statements.
[....]
About BBX Capital Corporation:
BBX Capital, a New York Stock Exchange listed company (NYSE: BBX), is involved in the acquisition, ownership and management of, and joint ventures and investments in real estate and real estate development projects as well as investments and management of middle market operating businesses. In addition, BBX Capital and its holding company, BFC Financial Corporation, have a 46% and 54% respective interest in Bluegreen Corporation; a vacation ownership company with more than 60 owned or managed resorts, 225,000 owners and 5,000 employees.
As of December 31, 2013, BBX Capital had consolidated total assets of $431.1 million, shareholders' equity of $302.4 million, and its book value per share was $19.00.
[....]
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=99797793
Marker EOD:
Bbx Capital Corporat (BBX)
$19.45 up 0.29 (1.51%)
Volume: 144,407
* less than 2 years ago in June of 2012 the stock was < $5.
Trading_UP
13 years ago
BankAtlantic Announces New and Improved Web-based Mobile Banking
Sep 6, 2011 10:18:00 AM
Copyright Business Wire 2011
-The Latest Functionality in Web Based Mobile Banking-
FORT LAUDERDALE, Fls.--(BUSINESS WIRE)-- BankAtlantic, Florida’s Most Convenient Bank, announced today the conversion to a new web-based Mobile Banking platform powered by Intuit Financial Services.
BankAtlantic’s new and improved service is specifically designed for the most common mobile phone devices. From basic flip phones to the most advanced smart phones, our new service allows all BankAtlantic Retail Online Banking customers that have web-enabled mobile phone devices to access their personal financial information on the go from the palm of their hand.
“Mobile Banking is the new ‘norm’ that customers now expect of their financial institution. We are delighted to offer a seamless suite of convenient choices to bank from whether you are using our new Mobile Web platform, Text Message Banking** or using either of our Mobile apps for the iPhone®, iPad®, iPod Touch® or Android phones*,” commented Lloyd DeVaux, BankAtlantic’s Chief Operating Officer. “The new, improved web-based Mobile Banking platform cements BankAtlantic’s commitment to our customers in bringing innovative solutions for managing their money.”
The new service allows customers to securely view the most common and frequently needed Online Banking services including account balances, transaction histories, making transfers and scheduling bill payments. Furthermore customers may locate their nearest BankAtlantic location and find bank contact information while on the go.
“Mobile technology is fast moving with millions of people now using their mobile devices on a daily basis and we are delighted to offer our customers the opportunity to bank on their own terms,” commented Jarett Levan, BankAtlantic’s CEO. “From the latest in cutting edge technology to the traditional services of your local ‘brick and mortar’ branch, it’s all at BankAtlantic - Florida’s super community bank.”
For further information about all convenient Mobile solutions, please visit https://www.BankAtlantic.com/Mobile
*BankAtlantic’s new Mobile Banking Application for the iPhone®, iPad® and iPod Touch® and Android phones are provided to its customers free of charge. However, network charges may vary depending on provider. If you aren't sure what fees may apply, please consult with your network provider before enrolling in the service.
** BankAtlantic’s new Text Message Banking service is provided to its customers free of charge. However, standard carrier fees for text messaging, including message and data rates, from your communications service provider will apply. If you aren't sure what fees apply when you send and receive text messages, please consult with your mobile phone carrier and/or communications service provider before enrolling in the service.
Deposits are subject to verification and may not be available for immediate withdrawal. Transactions may not appear in the order in which they will be posted at the end of each business day. Terms and conditions apply.
About Intuit Financial Services: Intuit Financial Services helps banks and credit unions grow by making it easier for consumers and businesses to manage their money. As a division of Intuit Inc., Intuit Financial Services’ portfolio of on-demand solutions and services are built on insights gained over three decades working with customers and creating innovative offerings that anticipate their needs.
Intuit and the Intuit logo, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of their respective owners and should be treated as such.
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, Online Banking & Bill Pay, a 7-Day Customer Service Center, Change Exchange coin counters, as well as retail and business checking accounts. Member FDIC.
Banking just got a whole lot easier! For further information, please visit us at www.BankAtlantic.com or a BankAtlantic branch nearest you.
BankAtlantic Bancorp (NYSE: BBX) is a bank holding company and the parent company of BankAtlantic. For further information, please visit: 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”), that involve substantial risks and uncertainties. Actual results could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Further, BankAtlantic’s new Text Message Banking service is provided to its customers free of charge, however standard carrier fees for text messaging and/or message and data rates from your communications service provider will apply. Potential customers of this service are cautioned to consult with their mobile phone carrier and/or their communications service provider relating to text messaging fees before enrolling in the service. Deposits are subject to verification and may not be available for immediate withdrawal. Transactions may not appear in the order in which they will be posted at the end of each business day. Terms and conditions apply. BankAtlantic cautions that the foregoing factors are not exclusive.
BankAtlantic
Media Contact:
Boardroom Communications
Caren Berg, 954-370-8999
cberg@boardroompr.com
or
BankAtlantic Bancorp, Inc.
Leo Hinkley, 954- 940-5300
Investor and Corporate Communications Officer
InvestorRelations@BankAtlanticBancorp.com
or
Sharon Lyn, 954-940-6383
Investor and Corporate Communications
CorpComm@BankAtlanticBancorp.com
Source: BankAtlantic
----------------------------------------------
BankAtlantic
Media Contact:
Boardroom Communications
Caren Berg 954-370-8999
cberg@boardroompr.com
or
BankAtlantic Bancorp Inc.
Leo Hinkley 954- 940-5300
Investor and Corporate Communications Officer
InvestorRelations@BankAtlanticBancorp.com
or
Sharon Lyn 954-940-6383
Investor and Corporate Communications
mlkrborn
13 years ago
BankAtlantic Bancorp Announces Completion of its Rights Offering; Expects BankAtlantic Will Meet Tier 1/Core Capital Ratio of...
Date : 06/20/2011 @ 8:30AM
Source : Business Wire
Stock : BankAtlantic Bancorp, Inc. (BBX)
Quote : 0.75 0.01 (1.35%) @ 11:38AM
BankAtlantic Bancorp Announces Completion of its Rights Offering; Expects BankAtlantic Will Meet Tier 1/Core Capital Ratio of...
Bank Atlantic (NYSE:BBX)
Intraday Stock Chart
Today : Monday 20 June 2011
Click Here for more Bank Atlantic Charts.
BankAtlantic Bancorp, Inc. (NYSE:BBX) today announced that it has completed its previously announced rights offering for its Class A Common Stock and received approximately $11.3 million of proceeds in connection with the exercise of rights by its shareholders. As a result, BankAtlantic Bancorp will issue an aggregate of approximately 15.1 million shares of its Class A Common Stock to participating shareholders.
“As previously disclosed, BankAtlantic Bancorp intends to use the proceeds of the rights offering, together with cash currently held by BankAtlantic Bancorp, to contribute capital to BankAtlantic, its primary operating subsidiary,” commented Alan B. Levan, BankAtlantic Bancorp’s Chairman and Chief Executive Officer. “While BankAtlantic's capital levels at March 31, 2011 exceeded the traditional definitions of ‘well capitalized’ regulatory capital thresholds, BankAtlantic is required to achieve by June 30, 2011 and maintain a Tier 1/Core capital ratio of 8% and Total Risk-based capital ratio of 14%. We are pleased that as a result of efforts throughout this quarter, which include the sale of the Tampa branches, balance sheet restructuring and focused management of problem assets, together with the anticipated contribution of capital, we believe that BankAtlantic will meet the higher requirements of Tier 1/Core capital ratio of 8% and Total Risk-Based capital ratio of 14% at June 30, 2011.”
BankAtlantic’s and BankAtlantic Bancorp’s second quarter 2011 financial results, including BankAtlantic’s actual June 30, 2011 capital ratios, will be released in the normal course subsequent to the end of the second quarter 2011.
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, Online Banking & Bill Pay, a 7-Day Customer Service Center, Change Exchange coin counters, as well as retail and business checking accounts. Member FDIC.
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