BB&T To Buy BankAtlantic
BB&T Corporation (NYSE:BBT) announced the signing of an agreement to acquire Florida-based BankAtlantic, a wholly-owned subsidiary of BankAtlantic Bancorp Inc. (NYSE:BBX). The transaction would allow the company to fast track its expansion strategy in Florida region. Under the terms of the deal, BB&T will acquire $2.1 billion in loans and roughly $3.3 billion in deposits [...]
BB&T Corporation (NYSE:BBT) announced the signing of an agreement to acquire Florida-based BankAtlantic, a wholly-owned subsidiary of BankAtlantic Bancorp Inc. (NYSE:BBX). The transaction would allow the company to fast track its expansion strategy in Florida region.
Under the terms of the deal, BB&T will acquire $2.1 billion in loans and roughly $3.3 billion in deposits (90% core and low-cost funds) for $301 million premium, representing 9.05% of the deposits at BankAtlantic on September 30, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards