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BANKATLANTIC FINANCIAL CORP. TO REMOVE STOCK FROM THE AMERICAN STOCK EXCHANGE; ANNOUNCES INTENTION TO CHANGE NAME TO BFC FINANCIAL CORP.

BANKATLANTIC FINANCIAL CORP. TO REMOVE STOCK FROM THE AMERICAN STOCK EXCHANGE; ANNOUNCES INTENTION TO CHANGE NAME TO BFC FINANCIAL CORP.
 CORAL GABLES, Fla., Jan. 31 /PRNewswire/ -- BankAtlantic Financial Corporation (AMEX: BFC) today announced that its shares will not be traded on the American Stock Exchange after Friday, Feb. 14, 1992. It is anticipated that a market for the company's common stock will develop in the over-the-counter market following the delisting of the stock from the American Stock Exchange.
 The common stock is being delisted for several reasons, including the reduced market value of shares publicly held. Holders of several large blocks of BankAtlantic Financial Corporation common stock currently control approximately 77 percent of all the company's outstanding shares.
 BankAtlantic Financial Corporation today also announced that BankAtlantic Financial Corporation will seek to change its name to BFC Financial Corporation. The change in name to BFC Financial Corporation is being made to eliminate possible confusion between BankAtlantic Financial Corporation and its principal affiliate, BankAtlantic, which is headquartered in Fort Lauderdale, Fla. BankAtlantic Financial Corporation is the holding company for BankAtlantic, as well as BankAtlantic's majority shareholder.
 BankAtlantic common stock and preferred shares are presently traded on the NASDAQ System, and the trading of BankAtlantic common and preferred stock is not expected to be affected in any way by the actions announced today.
 -0- 1/31/92
 /CONTACT: Glen R. Gilbert of BankAtlantic Financial Corporation, 305-665-8100/
 (BFC) CO: BankAtlantic Financial Corporation ST: Florida IN: FIN SU:


SS-AW -- FL016 -- 5815 01/31/92 17:16 EST
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Publication:PR Newswire
Date:Jan 31, 1992
Words:252
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