BankAtlantic Announces Nearly 465,000 New Deposit Account Openings; Convenience and Service Remain A Priority With Bank Customers.FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla. -- BankAtlantic BankAtlantic, a subsidiary of BankAtlantic Bancorp, Inc. [NYSE: BBX] and based in Fort Lauderdale, Florida, is a company that provides consumer and commercial banking services in south Florida. , "Florida's Most Convenient Bank," announced today that it has opened nearly 465,000 new checking and savings accounts Savings Account A deposit account intended for funds that are expected to stay in for the short term. A savings account offers lower returns than the market rates. Notes: since January January: see month. 2002, including nearly 55,000 in the first quarter of 2005. During 2002, BankAtlantic commenced its "Florida's Most Convenient Bank" initiative, an array of new services including seven-day Adj. 1. seven-day - lasting through a week; "her weeklong vacation" weeklong long - primarily temporal sense; being or indicating a relatively great or greater than average duration or passage of time or a duration as specified; "a long life"; "a long boring banking, extended weekday hours, 24/7 live customer service, Totally Free Checking, free online banking, and dozens of additional products and services. Following is the comparative data of New Accounts Openings:
Total Bank
New Account Openings
Annual, Year-over-Year
----------------------
2003 2004 Change
-------- -------- --------
Checking (DDA/NOW) 98,281 108,815 +10.7%
Savings 46,207 57,364 +24.1%
Total 144,488 166,179 +15.0%
Quarterly, Year-over-Year
-------------------------
1Q'04 1Q'05 Change
-------- -------- --------
Checking (DDA/NOW) 30,235 33,991 +12.4%
Savings 15,600 20,971 +34.4%
Total 45,835 54,962 +19.9%
Following is the comparative data of Total Bank Period-end Balances:
Total Bank
Period-end Balances
Annual, Year-over-Year - Adjusted for the estimated impact of
---------------------- Hurricane related slowdown in
September 2004(a)
(In Millions) Estimated Based
on Hurricane
Assumptions(1)
2003 2004 Change
-------- -------- --------
Checking (DDA/NOW) $1,179.2 $1,626.4 +37.9%
Savings $209.0 $270.6 +29.5%
Total $1,388.2 $1,897.0 +36.7%
Quarterly, Year-over-Year - Adjusted for the estimated impact of
------------------------- Hurricane related slowdown in
September 2004(a)
(In Millions) Estimated Based
on Hurricane
Assumptions(1)
1Q'04 1Q'05 Change
-------- -------- ----------
Checking (DDA/NOW) $1,316.1 $1,714.4 +30.3%
Savings $233.8 $297.1 +27.1%
Total $1,549.9 $2,011.5 +29.8%
(1) Assumes estimated additional deposit growth in the 3rd
Quarter, 2004 of $77.9 million which we believe would have been
generated but for the Hurricane related slowdown in New Account
Openings in September, 2004. Pro forma estimates are calculated based
on the application of deposit growth trend lines from prior periods.
To view the accompanying press release graphs, click on First Quarter, 2005 Graphs, or access the "Charts and Graphs" section at http://www.BankAtlanticBancorp.com and click on the "Press Room" navigation link. BankAtlantic Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Alan A`lan´ n. 1. A wolfhound. B. Levan levan Dentistry A fructose homopolymer linked by β-2,6 bonds, formed by the partial digestion of sucrose by Bacillus and Streptococcus spp, which is a component of dental plaque representing the first biochemical event in cariogenesis. , commented, "Our 'Florida's Most Convenient Bank' initiative continues to drive significant growth in new checking and savings account openings. The growth in core deposits continues to exceed our initial goals, which reveals the continued success of our core strategy and our commitment to service and convenience. In addition to our many initiatives, beginning Labor Day Labor Day, holiday celebrated in the United States and Canada on the first Monday in September to honor the laborer. It was inaugurated by the Knights of Labor in 1882 and made a national holiday by the U.S. Congress in 1894. 2005 all BankAtlantic stores will be open from 7:30 am to 8:00 pm for lobby and drive-up drive-up adj. Designed to permit customers to remain in their motor vehicles while being accommodated: a drive-up window at the bank. services, six days a week, Monday through Saturday." About BankAtlantic Bancorp: BankAtlantic Bancorp (NYSE NYSE See: New York Stock Exchange :BBX BBX Business Basic Extended BBX Business Barter Exchange BBX Blue Bell, Pennsylvania (Airport Code) BBX Blockbuster Express (UK video store) ) is a diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment 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 throughout Florida and its online banking division - BankAtlantic.com. BankAtlantic has 74 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 39 offices located in 14 states. For individual investors, the firm's Private Client Group provides a full range of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , including investment consulting, retirement plans, insurance and investment advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal . Institutional clients benefit from the market making, underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. 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. For further information, please visit our websites: http://www.BankAtlanticBancorp.com http://www.BankAtlantic.com http://www.RyanBeck.com (a) 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) 760-5383, Fax: (954) 760-5388 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) 760-5317, Fax: (954) 760-5415 Mailing Address: BankAtlantic Bancorp, Investor Relations, 1750 E. Sunrise Blvd., Fort Lauderdale, FL 33304 Matters discussed in this press release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. 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. There is no assurance that the assumed additional deposit growth would have been generated but for the hurricane relating slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. , that the amount assumed is accurate, or that prior trends of deposit growth would have continued during the September period or will continue in future periods. 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. |
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