BankAtlantic, "Florida's Most Convenient Bank," reported
today that it opened 77,000 new low cost deposit accounts in the first
quarter of 2006, an increase of 37% over the number of accounts opened
in the corresponding 2005 quarter. The "net new" low cost deposit
balances increased 79% to a record $205 million versus $115 million
reported during the comparable 2005 period. This is particularly
significant since the first quarter of 2005 was the best quarter of
low cost deposit growth in 2005. At quarter end, "total bank" and
"same store" low cost deposit balances increased 18.7% and 16.6%,
respectively, versus the first quarter 2005, to a record $2.3 billion.
Further, demand deposits rose to a record 29% of total deposits, and
low cost deposit balances rose to a record 58% of total deposits.
Alan B. Levan, Chairman and CEO of BankAtlantic, commented, "Our expanded marketing and advertising initiatives combined with BankAtlantic's unparalleled convenience and service continue to fuel sustained growth in low cost deposit accounts and balances. In addition to these record setting successes, we are pleased with the early accomplishments in our new store program. In the past 15 months, we have opened six new stores."
About BankAtlantic Bancorp:
BankAtlantic Bancorp (NYSE:BBX) is a diversified financial services holding company and the parent company of BankAtlantic and Ryan Beck & Co. Through these subsidiaries, BankAtlantic Bancorp provides a full line of products and services encompassing consumer and commercial banking, brokerage and investment banking.
About BankAtlantic:
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 stores and its online banking division - BankAtlantic.com. BankAtlantic has 79 stores and operates more than 200 conveniently located ATMs. BankAtlantic is open 7 days a week and offers holiday hours, extended weekday hours, including several stores open until midnight, Totally Free Online Banking & Bill Pay, 24/7 Customer Service Center, Totally Free Change Exchange coin counters and free retail and business checking with a free gift.
About Ryan Beck & Co.:
Founded in 1946, Ryan Beck & Co., Inc. provides financial advice and innovative solutions to individuals, institutions and corporate clients through the activities of approximately 1,100 employees in 42 offices located in 14 states. For individual investors, the firm's Private Client Group provides a full range of financial services, including investment consulting, retirement plans, insurance and investment advisory services. Institutional clients benefit from the market making, underwriting and distribution activities of the firm's experienced Capital Markets Group, which encompasses equity and fixed income trading and institutional sales as well as research. Through its Investment Banking Groups, Ryan Beck raises capital and provides financial advisory services to financial institutions, middle market companies and municipalities. -0- For further information, please visit our websites: http://www.BankAtlanticBancorp.com http://www.BankAtlantic.com http://www.RyanBeck.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: http://www.BankAtlanticBancorp.com. BankAtlantic, "Florida's Most Convenient Bank," Contact Info: Public Relations: Hattie Hess, Vice President, Public Relations Telephone: 954-940-6383, Fax: 954-940-6310 Email: hhess@BankAtlantic.com Public Relations for BankAtlantic: Boardroom Communications Caren Berg Phone: 954-370-8999, Fax: 954-370-8892 Email: caren@boardroompr.com BankAtlantic Bancorp Contact Info: Donna Rouzeau, Assistant Vice President, Investor Relations & Corporate Communications Email: CorpComm@BankAtlanticBancorp.com Leo Hinkley, Senior Vice President, Investor Relations Email: InvestorRelations@BankAtlanticBancorp.com Phone: 954-940-5300, Fax: 954-940-5320 Mailing Address: BankAtlantic Bancorp, Investor Relations 2100 West Cypress Creek Road, Fort Lauderdale, FL 33309
Matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this release, the word "expect" and similar expressions identify certain of such forward-looking statements. Actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Future performance, including continued growth of new accounts, core deposits, and the success and profitability of seven-day banking and other growth initiatives, is subject to a number of risks and uncertainties, which are, in many instances, beyond the Company's control. In addition to the risks and factors identified above, reference is also made to other risks and factors detailed in reports filed by the Company with the Securities and Exchange Commission. The Company cautions that the foregoing factors are not exclusive.
Alan B. Levan, Chairman and CEO of BankAtlantic, commented, "Our expanded marketing and advertising initiatives combined with BankAtlantic's unparalleled convenience and service continue to fuel sustained growth in low cost deposit accounts and balances. In addition to these record setting successes, we are pleased with the early accomplishments in our new store program. In the past 15 months, we have opened six new stores."
About BankAtlantic Bancorp:
BankAtlantic Bancorp (NYSE:BBX) is a diversified financial services holding company and the parent company of BankAtlantic and Ryan Beck & Co. Through these subsidiaries, BankAtlantic Bancorp provides a full line of products and services encompassing consumer and commercial banking, brokerage and investment banking.
About BankAtlantic:
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 stores and its online banking division - BankAtlantic.com. BankAtlantic has 79 stores and operates more than 200 conveniently located ATMs. BankAtlantic is open 7 days a week and offers holiday hours, extended weekday hours, including several stores open until midnight, Totally Free Online Banking & Bill Pay, 24/7 Customer Service Center, Totally Free Change Exchange coin counters and free retail and business checking with a free gift.
About Ryan Beck & Co.:
Founded in 1946, Ryan Beck & Co., Inc. provides financial advice and innovative solutions to individuals, institutions and corporate clients through the activities of approximately 1,100 employees in 42 offices located in 14 states. For individual investors, the firm's Private Client Group provides a full range of financial services, including investment consulting, retirement plans, insurance and investment advisory services. Institutional clients benefit from the market making, underwriting and distribution activities of the firm's experienced Capital Markets Group, which encompasses equity and fixed income trading and institutional sales as well as research. Through its Investment Banking Groups, Ryan Beck raises capital and provides financial advisory services to financial institutions, middle market companies and municipalities. -0- For further information, please visit our websites: http://www.BankAtlanticBancorp.com http://www.BankAtlantic.com http://www.RyanBeck.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: http://www.BankAtlanticBancorp.com. BankAtlantic, "Florida's Most Convenient Bank," Contact Info: Public Relations: Hattie Hess, Vice President, Public Relations Telephone: 954-940-6383, Fax: 954-940-6310 Email: hhess@BankAtlantic.com Public Relations for BankAtlantic: Boardroom Communications Caren Berg Phone: 954-370-8999, Fax: 954-370-8892 Email: caren@boardroompr.com BankAtlantic Bancorp Contact Info: Donna Rouzeau, Assistant Vice President, Investor Relations & Corporate Communications Email: CorpComm@BankAtlanticBancorp.com Leo Hinkley, Senior Vice President, Investor Relations Email: InvestorRelations@BankAtlanticBancorp.com Phone: 954-940-5300, Fax: 954-940-5320 Mailing Address: BankAtlantic Bancorp, Investor Relations 2100 West Cypress Creek Road, Fort Lauderdale, FL 33309
Matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this release, the word "expect" and similar expressions identify certain of such forward-looking statements. Actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Future performance, including continued growth of new accounts, core deposits, and the success and profitability of seven-day banking and other growth initiatives, is subject to a number of risks and uncertainties, which are, in many instances, beyond the Company's control. In addition to the risks and factors identified above, reference is also made to other risks and factors detailed in reports filed by the Company with the Securities and Exchange Commission. The Company cautions that the foregoing factors are not exclusive.