Summary
BankAtlantic, a Fort Lauderdale-based financial institution founded in 1952, has built a reputation as "Florida's Most Convenient Bank" with innovative services such as staying open seven days a week and keeping some branches open until midnight. But the company, like much of the banking industry, faces the crippling fallout from a struggling housing market and weakening economy in which Americans are saving less money. The company is owned by BankAtlantic Bancorp Inc. and has 93 branches in early 2007, primarily in Broward and Palm Beach counties, but with some offices in Martin and St. Lucie counties as well as the Tampa and Orlando areas. In terms of market share, the company is the 14th largest banki...
BankAtlantic, a Fort Lauderdale-based financial institution founded in 1952, has built a reputation as "Florida's Most Convenient Bank" with innovative services such as staying open seven days a week and keeping some branches open until midnight. But the company, like much of the banking industry, faces the crippling fallout from a struggling housing market and weakening economy in which Americans are saving less money. The company is owned by BankAtlantic Bancorp Inc. and has 93 branches in early 2007, primarily in Broward and Palm Beach counties, but with some offices in Martin and St. Lucie counties as well as the Tampa and Orlando areas. In terms of market share, the company is the 14th largest banking concern in the state and the 11th largest in South Florida, according to the Federal Deposit Insurance Corp. The bank's 2006 net income was $36.3 million, down from $55.8 million the year before. Its 2007 figures also lagged. But at the end of 2006, it reported holding more than $2 billion in deposit balances, up sharply from $602 million at the end of 2001. The company took three dramatic steps in 2007 to shore up its bottom line. It sold brokerage subsidiary Ryan Beck Holdings Inc. to St. Louis' Stifel Financial Corp. in a stock deal valued at $96 million. Then it laid off 225 people, about 8 percent of its workforce. It also planned to cut back on previously-announced plans to spend $5 million each quarter on marketing. At the same time, company officials said they still intended to open 20 branches in 2007 and 6 in 2008. In 2007, BankAtlantic's chief executive officer Alan Levan passed the title to his son, Jarrett, who had worked for the firm since he was 12 years old, starting in the mailroom. The older Levan continues to helm the parent company. The company headquarters is at 2100 West Cypress Creek Road in Fort Lauderdale.
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17 items on BankAtlantic
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BankAtlantic sues analyst
BankAtlantic Bancorp Inc. said it sued Ladenburg Thalmann & Co. analyst Richard Bove over a report called "Who is Next?" alleging the study defamed the bank by saying it might fail. BankAtlantic accused Bove and the firm of defamation and negligence in...Tags: BankAtlantic Bancorp Incorporated
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Las Vegas time-share firm buys Boca's Bluegreen
South Florida Sun-SentinelBoca Raton-based time-share company Bluegreen Corp. said Monday it intends to sell itself to a new owner for a hefty premium. The company said it signed a nonbinding letter of intent to be acquired by Las Vegas-based time-share developer and manager...Tags: Boca Raton, Woodbridge, Sales, Fort Lauderdale, Bluegreen Corporation
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Implementing quality education and change; Huizenga makes a 'JA World' of difference
A marketing publication of the Sun-Sentinel CompanyTop business leaders recently gathered to envision the dawning of a day when they'll be replaced in the boardrooms by graduates of JA World, Huizenga Center, the world's largest facility of its kind that's currently under construction on the north...Tags: Academic Progress, State Farm Insurance, AutoNation, Spherion Corporation, Florida Power & Light
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BankAtlantic files defamation lawsuit against analyst
South Florida Sun-SentinelBankAtlantic on Monday filed suit against a prominent banking analyst, accusing him of defamation and negligence following a report he issued last week including the bank's Fort Lauderdale parent company on a list of U.S. banks that might be next to fail....Tags: Trials, IndyMac Bancorp Incorporated, Corporations, BankAtlantic Bancorp Incorporated, Tampa
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Federal insurance program protects most bank deposits
South Florida Sun-SentinelA bank failure in California. The federal government's planned bailout of the nation's largest mortgage holders, Fannie Mae and Freddie Mac. The strong possibility that more banks could collapse. Is your cash safe in the bank? Banking experts say: Don'...Tags: Bankruptcy, Loans, New York Stock Exchange, Mortgages, Bank of America Corp.
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Winner in BankAtlantic contest gets free gas
BankAtlantic wants to help you out at the tank. The gas tank, that is. The Fort Lauderdale-based bank is offering customers a chance to win $1,000 in free gas for enrolling in the bank's online bill pay program and paying at least one bill by Aug. 31....Tags: Fort Lauderdale
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West Lake Worth: Crime Stoppers tip leads to bank robbery suspect
A Crime Stoppers tip led investigators to a suspect in the armed bank robbery at the BankAtlantic on Jog Road, the Palm Beach County Sheriff's Office said Monday. Eddie Lusane, 44, was arrested Monday following an investigation into the holdup on...Tags: Theft, Bank Robbery, Lake Worth, Eric Davis
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Palm Beach County: Police seek information on bank robbery suspect
The Palm Beach County Sheriff's Office is looking for a man who entered a BankAtlantic west of Lake Worth on Friday armed with a silver handgun and handed the teller a note that said, "give me all the 20's and 50's nothing else." The teller gave the...Tags: Theft, Bank Robbery, Lake Worth, Office Needs
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Fort Lauderdale builder Levitt and Sons to liquidate
South Florida Sun-SentinelLegendary home builder Levitt and Sons of Fort Lauderdale intends to go out of business after 79 years. The builder, which filed for bankruptcy protection from creditors last fall, revealed in court papers late Friday that it plans to wind down...Tags: Palm Beach (Palm Beach, Florida), Pembroke Pines, Bankruptcy, Financially Distressed Companies, Homes
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Orlando-based Earl of Sandwich chain may grow in airports
Since opening its first restaurant in Downtown Disney more than four years ago, the Earl of Sandwich chain has grown to just nine locations. But that could soon change. The Orlando-based company recently announced an agreement with food-service provider...Tags: Executive Branch, Health Organizations, Corporations, Robert Earl, Volleyball
Jul 22, 2008
|Story| Baltimore Sun
Jul 21, 2008
|Story| South Florida Sun-Sentinel
Jul 23, 2008
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Jul 21, 2008
|Story| South Florida Sun-Sentinel
Jul 20, 2008
|Story| South Florida Sun-Sentinel
Jul 14, 2008
|Story| South Florida Sun-Sentinel
Jul 1, 2008
|Story| South Florida Sun-Sentinel
Jun 28, 2008
|Story| South Florida Sun-Sentinel
Jun 28, 2008
|Story| South Florida Sun-Sentinel
May 5, 2008
|Story| Orlando Sentinel
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