BankAtlantic Bancorp (BBX) Announces Effective Date for Reverse Stock Split
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BankAtlantic Bancorp, Inc. (NYSE: BBX) announced today that it intends to effect its previously announced 1-for-5 reverse split of its common stock as of the close of business on September 26, 2008. As previously announced, at the effective time of the reverse stock split, each five shares of BankAtlantic Bancorp's Class A Common Stock outstanding will automatically convert into one share of Class A Common Stock, and each five shares of BankAtlantic Bancorp's Class B Common Stock outstanding will automatically convert into one share of Class B Common Stock. No fractional shares will be issued in connection with the reverse stock split. Instead, any fractional share resulting from the reverse stock split will be rounded up to the next largest whole share.
BankAtlantic Bancorp (NYSE: BBX) is a bank holding company and the parent company of BankAtlantic.[SM]
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