BankAtlantic Bancorp Announces Termination of
Offers to Purchase and Consent Solicitations for
All Non-Publicly Traded Trust Preferred
August 24, 2010 05:06 PM Eastern Daylight Time
FORT LAUDERDALE, Fla.--(EON: Enhanced Online News)--BankAtlantic Bancorp, Inc. (NYSE:BBX) (the
“Company”) announced today that it is terminating its previously announced cash offers to purchase, and consent
solicitations relating to, its twelve series of non-publicly traded trust preferred securities (“TruPS”), with an aggregate
principal amount of $230,000,000 (the “Offers”). The Offers were scheduled to expire on September 30, 2010.
The Company also announced that it is dismissing the currently pending lawsuit it filed against The Bank of New
York Mellon, as trustee under an indenture of an issuer of collateralized debt obligations which holds $25.2 million
principal amount of TruPS. The lawsuit was filed seeking a declaratory judgment and order directing The Bank of
New York Mellon, as trustee, to act on the direction received from the beneficial owners of the TruPS subject to the
Offer to accept the Offer. As a result of the termination of the Offers, this lawsuit is no longer necessary.
About BankAtlantic Bancorp:
BankAtlantic Bancorp (NYSE: BBX) is a bank holding company and the parent company of 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, BankAtlantic provides a full line of personal, small business and commercial banking products and
services. BankAtlantic is open 7 days a week with extended weekday hours, Free Online Banking & Bill Pay, a 7-
Day Customer Service Center and Change Exchange coin counters.
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