- Approximate 85% Year-to-Date Return -
FORT LAUDERDALE, Fla., Nov. 7 /PRNewswire-FirstCall/ -- BankAtlantic
Bancorp, Inc. (NYSE: BBX), the parent company of BankAtlantic, Ryan Beck &
Co., and Levitt Corporation, today announced it has achieved a historic record
$1 billion market capitalization reflecting an approximate 85% year-to-date
return on its stock price.
BankAtlantic Bancorp's Chairman and Chief Executive Officer, Alan B. Levan
commented, "Exceeding a $1 billion market cap is a record first in our
company's 52-year history. We are very proud of this notable milestone and we
believe it is a validation of BankAtlantic Bancorp's strategic positioning."
"BankAtlantic's 'Florida's Most Convenient Bank' initiatives, including
seven-day branch banking, extended weekday branch hours, 24/7 live customer
service center, Totally Free Checking, free online banking, and Totally Free
Change Exchange coin counters continue to produce results that we believe are
unprecedented in this market. We believe BankAtlantic Bancorp's overall
positioning and dozens of product and service initiatives have clearly struck
a responsive chord with our customers," commented Levan.
About BankAtlantic Bancorp:
BankAtlantic Bancorp (NYSE: BBX) is a diversified financial services
holding company and the parent company of BankAtlantic, Ryan Beck & Co., and
Levitt Corporation. Through these subsidiaries, BankAtlantic Bancorp provides
a full line of products and services encompassing consumer and commercial
banking, brokerage and investment banking, and real estate development.
BankAtlantic, "Florida's Most Convenient Bank," is one of the largest
financial institutions headquartered in Florida and provides a comprehensive
offering of banking services and products via its broad network of community
branches throughout Florida and its online banking division -
BankAtlantic.com. BankAtlantic has 73 branch locations and operates more
than 190 conveniently located ATMs. BankAtlantic is open 7 days a week and
offers holiday hours, extended weekday hours, Totally Free Change Exchange
coin counters, 24/7 call center service, and free retail and business checking
with a free gift.
Seven-Day Branch Banking - Monday through Sunday
-- Extended branch lobby hours are 8:30 am - 5:00 pm, Monday through
Wednesday, and 8:30 am - 8:00 pm, Thursday and Friday.
-- Extended drive-thru hours are 7:30 am - 8:00 pm, Monday through Friday.
-- Saturday branch lobby hours are 8:30 am - 3:00 pm, and drive-thru hours
are 7:30 am - 6:00 pm.
-- Sunday branch lobby hours are 11:00 am - 4:00 pm, and drive-thru hours
are 11:00 am - 4:00 pm.
Ryan Beck & Co. is a full-service broker dealer engaging in underwriting,
market making, distribution, and trading of equity and debt securities. The
firm also provides money management services, general securities brokerage,
including financial planning for the individual investor, consulting and
financial advisory services to financial institutions and middle market
companies. Ryan Beck & Co. also provides independent research in the
financial institutions, healthcare, technology, and consumer product
industries. Ryan Beck & Co. has in excess of 500 financial consultants
located in 33 offices nationwide
Levitt Corporation is the parent company of Levitt and Sons(TM), Core
Communities, and Levitt Commercial. Levitt Corporation and BankAtlantic
Bancorp also hold an aggregate 40% ownership interest in Bluegreen
Corporation. BankAtlantic Bancorp has announced plans to spin off Levitt
Corporation to shareholders at year-end, 2003, subject to receipt of a
favorable private letter ruling from the IRS.
Levitt and Sons(TM), America's first builder of planned suburban
communities, is best known for creating New York's Levittown, Long Island and
Levittown, PA. After building approximately 200,000 homes in over 74 years,
Levitt and Sons(TM) currently develops single and multi-family homes for
active adults and families throughout Florida.
Core Communities develops master-planned communities in Florida, including
its original and best known, St. Lucie West. St. Lucie West, the fastest
growing community on Florida's Treasure Coast for the last 7 years, is a
4,600-acre community with 4,000 built and occupied homes, 150 businesses
employing 5,000 people and a university campus. Core Communities' newest
master-planned community is "Tradition." Now under development on Florida's
Treasure Coast in St. Lucie County, Tradition features 5,600 residences, a
commercial town center and a world-class corporate park.
Levitt Commercial specializes in development, re-development, and joint
venture opportunities in industrial and retail properties.
Bluegreen Corporation (NYSE: BXG) engages in the acquisition, development,
marketing and sale of drive-to vacation resorts, golf communities and
residential land. The Company's resorts are located in a variety of popular
vacation destinations including the Smoky Mountains of Tennessee; Myrtle Beach
and Charleston, South Carolina; Branson, Missouri; Wisconsin Dells and
Gordonsville, Wisconsin; Aruba and throughout Florida. Bluegreen Corp.'s land
operations are predominantly located in the Southeastern and Southwestern
United States.
For further information, please visit our websites:
http://www.BankAtlanticBancorp.com
http://www.BankAtlantic.com
http://www.RyanBeck.com
http://www.LevittCorporation.com
http://www.LevittandSons.com
http://www.CoreCommunities.com
http://www.LevittCommercial.com
BankAtlantic Bancorp Contact Info:
Investor Relations:
Contact: Leo Hinkley, Vice President
Phone: (954) 760-5317
Fax: (954) 760-5415
Email: InvestorRelations@BankAtlanticBancorp.com.
Mailing Address: BankAtlantic Bancorp, Investor Relations
1750 East Sunrise Blvd., Fort Lauderdale, FL 33304
Corporate Communications:
Sharon Lyn, Assistant Vice President
Phone: (954) 760-5402
Fax: (954) 760-5415
CorpComm@BankAtlanticBancorp.com
* To receive future news releases or announcements directly via Email,
please click on the Email Broadcast Sign Up button on
http://www.BankAtlanticBancorp.com
Information in this press release regarding the historical performance of
the Company's shares should not be construed as a guarantee or estimate by the
Company of its future performance. The past performance of the Company and
its shares is no guarantee of future performance. This information could be
construed as 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, many of which are beyond the
Company's control.
SOURCE BankAtlantic Bancorp, Inc.
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Related links:
http://www.bankatlantic.com
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AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Investor Relations, Leo Hinkley,
+1-954-760-5317, or email,
InvestorRelations@BankAtlanticBancorp.com, or Corporate
Communications, Sharon Lyn, +1-954-760-5402, or email,
CorpComm@BankAtlanticBancorp.com, both of BankAtlantic Bancorp,
Inc., fax, +1-954-760-5415
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