BBX BankAtlantic Bancorp Inc. featured news, full reports, and detailed charts
BankAtlantic Bancorp Inc. (BBX) Wrap Up:
BankAtlantic Bancorp, Inc. operates as the bank holding company for BankAtlantic that provides retail and commercial banking products and services in Florida. It offers deposit products, including commercial demand deposit accounts, retail demand deposit accounts, savings accounts, money market accounts, certificates of deposit, various negotiable order of withdrawal accounts and individual retirement accounts, and Keogh retirement accounts. The company?s lending portfolio comprises commercial real estate loans, commercial business loans, standby letters of credit and commitments, consumer loans, small business loans, and residential loans. As of December 31, 2008, it offered its services through approximately 100 branches in southeast and central Florida, and the Tampa Bay area, primarily in the Miami-Dade, Broward, Palm Beach, Hillsborough, and Pinellas counties. The company was founded in 1952 and is based in Ft. Lauderdale, Florida.www.bankatlantic.com
1,704 Employees
Founded in 1952
BankAtlantic Bancorp Inc. (BBX:NYSE)
LAST $1.39 USD
CHANGE TODAY -0.02 -1.42%
VOLUME 161.4K
As of 4:00 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of BankAtlantic Bancorp Inc. (BBX)
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OPEN
$1.37
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PREVIOUS CLOSE
$1.41
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DAY HIGH
$1.42
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DAY LOW
$1.35
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52 WEEK HIGH
08/7/09 - $6.68
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52 WEEK LOW
03/5/09 - $0.66
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MARKET CAP
68.4M
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AVERAGE VOLUME 3 mo
264.9K
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DILUTED EPS TTM
$-25.65
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SHARES OUTSTANDING
49.2M
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EX-DATE
02/20/09
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P/E TTM
NM
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DIVIDEND
--
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DIVIDEND YIELD
0.00%
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BBX Top Compensated Officers
Mr. Alan B. Levan
Chairman of the Board, Chief Executive Office...
Age: 64
Total Annual Compensation: $541.8K
Mr. Jarett S. Levan
President, Director, Chief Executive Officer ...
Age: 35
Total Annual Compensation: $431.0K
Ms. Valerie C. Toalson
Chief Financial Officer, Executive Vice Presi...
Age: 43
Total Annual Compensation: $293.8K
Mr. Lloyd B. DeVaux
Chief Operating Officer, Executive Vice Presi...
Age: 56
Total Annual Compensation: $465.8K
Executives, Board Directors
Compensation as of Fiscal Year 2008.
Key developments for BankAtlantic Bancorp Inc. (BBX)
BankAtlantic Bancorp Inc. Reports Earnings Results for the Nine Months Ended September 30, 2009
10/23/2009
BankAtlantic Bancorp Inc. reported earnings results for the nine months ended September 30, 2009. For the period, the company reported net loss of $133.35 million or $8.84 diluted per share compared to a net loss of $48.87 million or $3.24 diluted per share for the first nine months ended September 30, 2008. Net interest income was $111.87 million, compared to $134.65 million for the prior-year period.
BankAtlantic Bancorp Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2009; Records Impairment Charges for the Third Quarter Ended September 30, 2009
10/22/2009
BankAtlantic Bancorp Inc. reported earnings results for the third quarter ended September 30, 2009. The company reported a net loss from continuing operations of $52.1 million, or $3.45 per diluted share for the quarter ended September 30, 2009, compared to a net loss from continuing operations of $38.4 million, or $2.54 per diluted share for the quarter ended June 30, 2009, and a net loss from continuing operations of $11.0 million, or $0.73 per diluted share for the quarter ended September 30, 2008. The increased loss was primarily the result of a higher loan loss provision in the current quarter at both BankAtlantic and the parent company, and to a lesser extent, when compared to the 2008 third quarter the elimination of tax benefits (due to a full deferred tax allowance since the fourth quarter of 2008). Pre-tax loss was $35.3 million for the third quarter of 2009, compared to a pre-tax loss of $24.2 million for the second quarter of 2009 and a pre-tax loss of $4.6 million for the third quarter of 2008. Pretax core operating earnings for the third quarter of 2009 improved to $23.9 million compared to $18.9 million in the second quarter of 2009, and $21.7 million in the third quarter of 2008. Net interest income for the third quarter of 2009 was $41.5 million compared to $40.1 million during the second quarter of 2009 and $51.2 million in the third quarter of 2008. Impairment, restructuring and exit charges of $1.7 million in the third quarter of 2009, compared to $1.8 million in the second quarter of 2009 and $0.5 million in the third quarter of 2008. The charges in the current quarter primarily related to impairments of property held for sale based on current reduced real estate values and lease exit costs.
BankAtlantic Bancorp Inc. expected to Report Fiscal Year 2009 Results on February 8, 2010. This event was calculated by Capital IQ (Created on October 22, 2009).
10/22/2009
BankAtlantic Bancorp Inc. expected to Report Fiscal Year 2009 Results on February 8, 2010. This event was calculated by Capital IQ (Created on October 22, 2009).
BBX Competitors
| Company | Last | Change |
| Bancorp South Inc | $23.47 USD | +0.05 |
| Capital City Bank Group | $11.97 USD | +0.22 |
| IBERIABANK Corp | $54.55 USD | -0.10 |
| JPMorgan Chase and Co | $42.46 USD | -0.09 |
| Trustmark Corp | $19.19 USD | +0.16 |
| Market data is delayed at least 20 minutes. | ||
Industry Analysis
| Valuation | BBX | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 0.3x |
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| Price/Book | 0.4x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | NM | Not Meaningful |
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BBX transactions
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| No transactions in the last 6 months. | ||
More Recent News About BankAtlantic Bancorp Inc.
More news for BBX
BANKATLANTIC BANCORP INC Files SEC form 8-K, Results of Operations and Financial Condition
Show all filings for BANKATLANTIC BANCORP INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for BANKATLANTIC BANCORP INC 22-Oct-2009Results of Operations and Financial Condition Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informationa...Click here to read the whole Article (external link)
BankAtlantic loses $52M in Q3
BankAtlantic Bancorp lost most of the capital it raised from shareholders during the third quarter as it took charges to account for the declining value of problem loans. The Fort Lauderdale-based company (NYSE: BBX) lost $52.1 million, or $3.45 a share, in the third quarter, down from a loss of $38.4 million, or $2.54 a share, in the second quarter. That was worse than the expectation of Fox-Pitt Kelton analyst Albert Savastano, who forecast a $31.1 million loss for the company in a Sept. 30 research note. BankAtlantic Bancorp raised $76 million from the shareholding offering during the third quarter and gave $75 million of it to its BankAtlantic subsidiary. The subsidiary absorbed $35.3 million of the parent company’s loss, compared with $24.2 million in the second quarter. Despite the loss, the capital picture at the BankAtlantic subsidiary improved. It reached its highest capital-to-asset ratios of the past decade due to the shareholder offering and a reduction in assets. BankAtlantic’s assets fell to $4.89 billion as of Sept. 30 from $5.19 billion as of June 30. Much of that came from a 4.3 percent reduction in loans, to $3.81 billion from $3.98 billion. Charges from problem loans drove BankAtlantic Bancorp’s losses deeper. The company took a $63.6 million expense to reserve for future loan losses and charged off $51.1 million in problem loans during the third quarter. Those expenses were $43.5 million and $29.7 million, respectively, in the second quarter. “The commercial real estate portfolio continues to be adversely affected by declining collateral values and general economic conditions,” said Jarett S. Levan, ...Click here to read the whole Article (external link)
BankAtlantic Reports Continued Growth in Deposits for the Third Quarter, 2009
Florida’s Most Convenient Bank exceeding its prior historic, record levels. BankAtlantic’s Chief Executive Officer, Jarett S. Levan, commented, “BankAtlantic’s deposit base continues to be a stable and growing funding source with core deposits exceeding last quarter’s then record levels. This accomplishment is particularly significant given the seasonality that has traditionally resulted in decreased deposits during the third quarter. However, this year we continued to experience growth in core deposits during the third quarter.â€â€œWe are very encouraged with BankAtlantic’s achievements, continued deposit growth and positive momentum. We are committed to focus on our fundamental strategies through the remainder of this economic cycle and remain ready to serve Florida’s residents and businesses with exceptional local service as we have since 1952,†concluded Jarett Levan.(1)Core deposits is a term that we use to refer to Demand, NOW and Savings accounts.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, online banking division - BankAtlantic.com , and conveniently located ATMs, BankAtl...Click here to read the whole Article (external link)
BankAtlantic Bancorp. Q3 2009 Earnings Call Transcript
BankAtlantic Bancorp. (BBX) Q3 2009 Earnings Call October 22, 2009; 11:00 am ET Executives Alan Levan - Chief Executive Officer Valerie Toalson - Executive Vice President & Chief Financial Officer Jarett Levan - BankAtlantic President & Chief Executive Officer Leo Hinkley - Senior Vice President & Investor Relations Officer Analysts Paul Miller - FBR Capital Markets & Co Catherine Miller - Bank of America Matthew Elise - Homecomings Financial Wilson Yeagley - Unidentified Company Operator Good morning. My name is Molly, and I will be your conference facilitator today. At this time I would like to welcome everyone to the BankAtlantic Bancorp, third quarter 2009 earnings call. All lines have been placed on mute to prevent any background noise (Operator Instructions). I would now like to introduce Mr. Leo Hinkley, Senior Vice President of Investor Relations, Mr. Hinkley; you may begin your conference. Leo Hinkley Thank you Molly, good morning everyone, and thank you for joining us at the BankAtlantic Bancorp teleconference call and webcast, discussing our financial results for the third quarter of 2009. The speakers today will include BankAtlantic Bancorp’s Chairman and Chief Executive Officer, Mr. Alan B. Levan; and Valerie C. Toalson, BankAtlantic Bancorp’s Chief Financial Officer as well as BankAtlantic’s President and Chief Executive Officer, Jarett S. Levan,. We’ll begin our call with a discussion from Alan, Valerie and Jarett. At the conclusion of the discussion and time permitting, we will then conduct a question and answer period. Copies of the press release issued this morning on Thursday, October 22, 2009 are av...Click here to read the whole Article (external link)
BFC Financial loses $54M, subsidiary in default
BFC Financial Corp. lost $54 million in the third quarter and disclosed that its Core Communities subsidiary has been declared in default on two financial agreements. The developer of Tradition Florida in Port St. Lucie and Tradition Hilton Head in South Carolina, Core became part of the company when BFC merged with Woodbridge Holdings Corp. in September. Since that merger, BFC (Pink Sheets: BFCF) has invested more in BankAtlantic Bancorp and Bluegreen Corp. and sold its shares of Office Depot. The company’s financial results are a combination of the results from its subsidiaries, companies it owns a non-controlling stake in and its internal operations. Fort Lauderdale-based BFC reported a net loss of $54 million, or $1.09 a share, on revenue of $93.5 million in the third quarter, according to its filing with the Securities and Exchange Commission late Mond...Click here to read the whole Article (external link)
BANKATLANTIC BANCORP INC Financials
PERIOD ENDING30-Sep-0930-Jun-0931-Mar-0931-Dec-08Total Revenue89,355 88,702 95,718 99,179 Cost of Revenue9,420 11,527 12,987 15,610 Gross Profit - 77,175 82,731 83,569 Operating ExpensesResearch Development - - - - Selling General and Administrative61,395 62,113 60,706 77,669 Non Recurring564 2,029 10,999 52,117 Others63,586 42,008 45,763 34,806 Total Operating Expenses - - - - Operating Income or Loss - (28,975)(34,737)(81,023)Income from Continuing OperationsTotal Other Income/Expenses Net - - - - Earnings Before Interest And Taxes(45,610)(28,975)(34,737)(81,023)Interest Expense6,476 9,381 11,874 16,321 Income Before Tax(52,086)(38,356)(46,611)(97,344)Income Tax Expense3 - - 66,991 Minority Interest - - - - Net Income From Continuing Ops(52,089)(38,356)(46,611)(164,335)Non-recurring EventsDiscontinued Operations(500) - 4,201 10,565 Extraordinary Items - - - - Effect Of Accounting Changes - - - - ...Click here to read the whole Article (external link)
BANKATLANTIC BANCORP INC Files SEC form 10-Q, Quarterly Report
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The objective of the following discussion is to provide an understanding of the financial condition and results of operations of BankAtlantic Bancorp, Inc. and its subsidiaries (the "Company", which may also be referred to as "we," "us," or "our") for the three and nine months ended September 30, 2009 and 2008. The principal assets of the Company consist of its ownership in BankAtlantic, a federal savings bank headquartered in Fort Lauderdale, Florida, and its subsidiaries ("BankAtlantic"). Except for historical information contained herein, the matters discussed in this document 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, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of BankAtlantic Bancorp, Inc. ("the Company") and are subject to a number of risks and uncertainties that are subject to change based on factors which are, in many instances, beyond the Company's control. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, products and services, including the impact of the changing regulatory environment, a continued or deepening recession, continued decreases in real estate values, and increased unemployment on our business generally, our regulatory capital ratios and the ability of our borrowers to service their obligations and of our customers to maintain acc...Click here to read the whole Article (external link)
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