-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OUjtNeDeTGRTVY6wul2U2tlEYZk2AUgWp4lH2WCzDooFspaIu1EybZJQ+xTGnegN vkpeRmmbd8y7ppZZ6H4R9w== 0000921768-03-000005.txt : 20030401 0000921768-03-000005.hdr.sgml : 20030401 20030401093015 ACCESSION NUMBER: 0000921768-03-000005 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030326 ITEM INFORMATION: Other events FILED AS OF DATE: 20030401 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BANKATLANTIC BANCORP INC CENTRAL INDEX KEY: 0000921768 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 650507804 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13133 FILM NUMBER: 03632780 BUSINESS ADDRESS: STREET 1: 1750 E SUNRISE BLVD CITY: FORT LAUDERDALE STATE: FL ZIP: 33304 BUSINESS PHONE: 9547605000 MAIL ADDRESS: STREET 1: 1750 EAST SUNRISE BOULEVARD CITY: FORT LAUDERVALE STATE: FL ZIP: 33304 8-K 1 march8k.txt ITEM 5. OTHER EVENTS SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 --------------------------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) of the SECURITIES EXCHANGE ACT OF 1934 --------------------------------- Date of Report March 26, 2003 -------------- (Date of earliest event reported) BankAtlantic Bancorp, Inc. -------------------------- (Exact name of registrant as specified in its Charter) Florida 34-027228 - -------------------------------------- ----------------------------- (State of other jurisdiction or (Commission File Number) incorporation or organization) 65-0507804 ---------- (IRS Employer Identification No.) 1750 East Sunrise Blvd. 33304 ----- Ft. Lauderdale, Florida (Zip Code) ----------------------- (Address of principal executive offices) (954) 760-5000 -------------- (Registrant's telephone number, including area code) Not Applicable -------------- (Former name or former address, if changed since last report) Item 5. Other Events On March 28, 2003, BankAtlantic Bancorp, Inc. issued a press release announcing the sale of an aggregate of $65 million of trust preferred securities in separate transactions on March 26 and March 27, 2003 and the call for redemption of approximately $46 million of 5.625% Convertible Subordinated Debentures due 2007. The sales of the trust preferred securities were part of larger pooled trust preferred securities offerings and were not registered under the Securities Act of 1933. A copy of the press release is attached hereto as Exhibit 99.1. Item 7. Financial Statements and Exhibits (c) Exhibits 99.1 Press Release dated March 28, 2003. SIGNATURES ---------- Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BANKATLANTIC BANCORP, INC. By:/s/Mark Wendel - ------------------- Name: Mark Wendel Title:Senior Vice President, Controller Dated: March 28, 2003 EXHIBIT INDEX Exhibit Description - ------- ----------- 99.1 Press Release dated March 28, 2003. EX-99 3 exhibit99.txt MARCH 28, 2003 PRESS RELEASE Exhibit 99.1 FORT LAUDERDALE, Fla., March 28 -- BankAtlantic Bancorp, Inc. (NYSE: BBX), parent company of BankAtlantic, Levitt Corporation and Ryan Beck & Co., announced today that it sold an aggregate of $65 million of trust preferred securities in separate transactions on March 26 and March 27, 2003. BankAtlantic Bancorp also announced today that it has called for redemption of all of its outstanding 5.625% Convertible Subordinated Debentures due 2007 (Nasdaq: BANCH). The trust preferred securities pay interest quarterly at fixed rates ranging from 6.40% to 6.65% per annum until 2008, and thereafter at a floating rate equal to 3-month LIBOR plus 315-325 basis points. The securities are redeemable in five years and are due in 2033. The net proceeds of approximately $63 million will be used primarily to redeem the 5.625% Convertible Debentures and repay other outstanding debt. These sales, each part of a larger pooled trust preferred securities offering, were not registered under the Securities Act of 1933 and, accordingly, the trust preferred securities may not be sold in the United States absent registration or an applicable exemption from registration requirements. The Convertible Debentures will be redeemed effective April 28, 2003 at a redemption price of 102% of the principal amount plus accrued and unpaid interest through the redemption date, and are convertible into the Class A Common Stock of BankAtlantic Bancorp at $11.25 per share. BBX shares closed at $9.45 in trading on the NYSE yesterday. Approximately $46 million of the Debentures are currently outstanding. Holders of the Convertible Debentures will receive notice of the redemption from U.S. Bank National Association, as trustee. Any questions should be directed to the trustee at: o U.S. Bank Trust Center o 180 East Fifth Street o St. Paul, MN 55101 o Attention Corporate Trust Administration o (651) 249-0721 About BankAtlantic Bancorp BankAtlantic Bancorp (NYSE: BBX - News) is a diversified financial services holding company and the parent company of BankAtlantic, Levitt Corporation, 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, and real estate development. BankAtlantic Bancorp is one of the largest financial institutions headquartered in the State of Florida. 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 73 branch locations, operates more than 190 conveniently located ATMs and offers extended hours. Visit BankAtlantic's website for further information at www.BankAtlantic.com. Seven-Day Branch Banking-Monday through Sunday Extended branch lobby hours are 8:30AM-5:00PM, Monday through Wednesday, and 8:30AM-8:00PM, Thursday and Friday. Extended drive-thru hours are 7:30AM-8:00PM, Monday through Friday. Saturday branch lobby hours are 8:30AM-3:00PM, and drive-thru hours are 7:30AM-6:00PM. Sunday branch lobby hours are 11:00AM-4:00PM, and drive-thru hours are 11:00AM-4:00PM. Levitt Corporation is the parent company of Levitt and Sons and Core Communities. Levitt and Sons, America's oldest homebuilder and first to build planned suburban communities, currently develops single and multi-family homes for active adults and families throughout Florida. Core Communities develops master-planned communities in Florida, including its original and best known, St. Lucie West -- a 4,600-acre community with 4,000 built and occupied homes, 150 businesses employing 5,000 people and a university campus. New master-planned developments include Tradition, now under development on Florida's Treasure Coast in St. Lucie County, featuring 5,600 residences, a commercial town center and a world-class corporate park. Ryan Beck & Co. is a full-service broker dealer engaging in underwriting, market making, distribution, and trading of equity and debt securities. The firm also provides money management services, general securities brokerage, including financial planning for the individual investor, consulting and financial advisory services to financial institutions and middle market companies. Ryan Beck & Co. also provides independent research in the financial institutions, energy, healthcare, technology, and consumer product industries. Ryan Beck & Co. has in excess of 575 financial consultants located in 36 offices nationwide. For further information, please visit our websites: www.BankAtlantic.com www.LevittandSons.com www.CoreCommunities.com www.LevittCommercial.com www.Cumber.com www.GMSgroup.com o To receive future news releases or announcements directly via email, please access the e-News banner on the Investor Relations page at www.BankAtlantic.com. BankAtlantic Bancorp Contact Info: Investor Relations: Leo Hinkley, Phone: (954) 760-5317, Fax: (954) 760-5415 or InvestorRelations@BankAtlantic.com - --------------------------------- Mailing Address: 1750 East Sunrise Boulevard, Fort Lauderdale, FL 33304 Corporate Communications: Sharon Lyn, Phone: (954) 760-5402 or Public Relations for BankAtlantic: Boardroom Communications, Caren Berg, Phone: (954) 370-8999 or caren@boardroompr.com -----END PRIVACY-ENHANCED MESSAGE-----