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BankAtlantic Bancorp Receives a Continued Listing Standard Letter from the NYSE

^{Published on 2011-04-12 13:20:44 - Market Wire}
 

FORT LAUDERDALE, Fla.--([ BUSINESS WIRE ])--BankAtlantic Bancorp, Inc. (NYSE:BBX) (the aCompanya) announced today that it has been notified by the New York Stock Exchange (the aNYSEa) that its Class A Common Stock did not satisfy one of the NYSEa™s standards for continued listing. The NYSE requires that the average closing price per share of a listed companya™s stock be in excess of $1.00 for a consecutive 30-trading-day period. As of March 31, 2011, the average closing price per share of the Companya™s Class A Common Stock during the preceding 30-trading-day period was $0.98.

Under the NYSEa™s rules, the Company has a period of six months, subject to possible extension, to bring its average share price back over $1.00. The Companya™s Class A Common Stock will continue to be listed and traded on the NYSE during this period. The Company plans to notify the NYSE that it anticipates that this deficiency will be cured and that it will return to compliance with the NYSE continued listing standard, and the NYSE has agreed to work with the Company through its initiatives.

About BankAtlantic Bancorp: BankAtlantic Bancorp (NYSE: BBX) is a bank holding company and the parent company of BankAtlantic.

For further information, please visit our website:

[ www.BankAtlanticBancorp.com ]

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Except for historical information contained herein, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the aSecurities Acta), and Section 21E of the Securities Exchange Act of 1934, as amended (the aExchange Acta), 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. (athe Companya) 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 Companya™s control.These include, but are not limited to, risks and uncertainties associated with: the Companya™s ability to satisfy the NYSEa™s standard listing deficiency, maintain all NYSE standards for continued listing and to remain listed on the NYSE; 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 as well as changes in trade, monetary and fiscal policies and laws; a continued or deepening recession, especially if the economy and real estate markets in Florida do not improve; adverse conditions in the stock market; that we may seek to raise additional capital and such capital may be highly dilutive to BankAtlantic Bancorpa™s shareholders or may not be available. Although the Company believes that the expectations contained in these forward-looking statements are based on reasonable assumptions, the Company gives no assurances that our expectations will be attained. Further, the Company does not undertake, and specifically disclaims any obligation, to publicly release any update or supplement to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. 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, including the Companya™s Annual Report on Form 10-K for the year ended December 31, 2010.The Company cautions that the foregoing factors are not exclusive.