BankAtlantic Announces Over 370,000 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 370,000 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 almost 38,600 in the third quarter of 2004. 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 branch banking, extended weekday branch 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 Account Openings:
Total Bank
New Account Openings
Annual, Year-over-Year
----------------------
2002 2003 Change
---- ---- ------
Checking (DDA/NOW) 76,614 98,281 +28%
Savings 22,488 46,207 +105%
Total 99,102 144,488 +46%
Quarterly, Year-over-Year
-------------------------
3Q'03 3Q'04 Change
----- ------ ------
Checking (DDA/NOW) 25,872 25,361 -2%
Savings 11,651 13,236 +14%
Total 37,523 38,597 +3%
Quarterly, Year-to-Date
-----------------------
Y-T-D Y-T-D
3Q'03 3Q'04 Change
----- ------ ------
Checking (DDA/NOW) 75,331 83,225 +10%
Savings 34,844 42,992 +23%
Total 110,175 126,217 +15%
Total Bank
Period-end Balances
Annual, Year-over-Year
----------------------
(In Millions)
2002 2003 Change
---- ---- ------
Checking (DDA/NOW) $862.7 $1,179.2 +36.7%
Savings $163.6 $209.0 +27.7%
Total $1,026.3 $1,388.2 +35.3%
Quarterly, Year-over-Year
-------------------------
(In Millions)
3Q'03 3Q'04 Change
----- ----- ------
Checking (DDA/NOW) $1,075.5 $1,372.8 +27.6%
Savings $202.4 $252.4 +24.7%
Total $1,277.9 $1,625.2 +27.2%
To view the accompanying press release graphs, click on Summary of Accounts Opened 3rd Quarter 2004, http://www.bankatlanticbancorp.com/pressroom/charts/pdf/3Q2004NewAccou ntsGraphs.pdf (Due to its length, this URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. may need to be copied/pasted into your Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the browser's address field. Remove the extra space if one exists.) 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, "Despite four hurricanes that penetrated Florida Florida, state, United States Florida (flôr`ĭdə, flŏr`–), state in the extreme SE United States. A long, low peninsula between the Atlantic Ocean (E) and the Gulf of Mexico (W), Florida is bordered by Georgia and within August and September, BankAtlantic experienced growth year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. in new customer checking and savings account openings, reflecting the continued success of our core strategy and our commitment to superior customer service and convenience. Clearly, new account openings declined during this period as most Floridians were glued glue n. 1. a. A strong liquid adhesive obtained by boiling collagenous animal parts such as bones, hides, and hooves into hard gelatin and then adding water. b. to their television sets watching various news reports about the approaching storms. Thousands of residents were required to evacuate e·vac·u·ate v. 1. To empty or remove the contents of. 2. To excrete or discharge waste matter, especially of the bowels. their homes, curfews were in effect, and downed electric power lines closed many of our branches. Nonetheless, we are proud of our loyal and dedicated staff for keeping the 'Florida's Most Convenient Bank' promise to our customers even during these challenging periods, by offering unparalleled service and care, both before and after each storm, including weekends and the 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. holiday." 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 branches throughout Florida and its online banking division - BankAtlantic.com. BankAtlantic has 74 branch locations and operates more than 200 conveniently located ATMs. BankAtlantic is open 7 days a week and offers holiday hours, extended weekday hours including a Miami-Dade branch open until midnight, free online banking, Totally Free Change Exchange coin counters, 24/7 call center service and free retail and business checking with a free gift. 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 at our website: http://www.BankAtlanticBancorp.com BankAtlantic, "Florida's Most Convenient Bank," Contact Info: Public Relations: Hattie Harvey, Vice President, Public Relations Telephone: (954) 760-5383, Fax: (954) 760-5388 Email: hharvey@BankAtlantic.com. Public Relations for BankAtlantic: Boardroom Communications Caren Berg Phone: (954) 370-8999, Fax: (954) 370-8892 Email: caren@boardroompr.com 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. BankAtlantic Bancorp Contact Info: Investor Relations: Leo Hinkley, Senior Vice President Phone: (954) 760-5317, Fax: (954) 760-5415 Email: InvestorRelations@BankAtlanticBancorp.com. Mailing Address: BankAtlantic Bancorp, Investor Relations, 1750 East Sunrise Blvd., Fort Lauderdale, FL 33304 Investor & Corporate Communications: Adrienne Zvi, Investor and Corp. Communications Specialist Phone: (954) 760-5317, Fax: (954) 760-5415 Email: CorpComm@BankAtlanticBancorp.com 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 accounts and the success and profitability of seven-day banking and the 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. |
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