10-Q

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 10-Q

[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2012

OR

[  ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THESECURITIES EXCHANGE ACT OF 1934

For the transition period from _______ to _______

Commission files number     001-13133

BBX CAPITAL CORPORATION

(Exact name of registrant as specified in its charter)

Florida(State or other jurisdiction of incorporation or organization)	65-0507804 (I.R.S. Employer Identification No.)
2100 West Cypress Creek Road Fort Lauderdale, Florida (Address of principal executive offices)	33309 (Zip Code)

(954) 940-5000

(Registrant's telephone number, including area code)

BankAtlantic Bancorp, Inc.

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months, and (2) has been subject to such filing requirements for the past 90 days.   [X] YES   [   ] NO

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).   [X] YES  [ ] NO

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act.

Large accelerated filer [  ]	Accelerated filer [  ]
Non-accelerated filer [  ]	Small reporting company [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).   [   ] YES   [X] NO

Indicate the number of shares outstanding of each of the issuer's classes of common stock as of the latest practicable date.

Title of Each Class	Outstanding atAugust 10, 2012
Class A Common Stock, par value $0.01 per share	15,505,064
Class B Common Stock, par value $0.01 per share	195,045

TABLE OF CONTENTS
		Page
Part I.	FINANCIAL INFORMATION
Reference
Item 1.	Financial Statements	3-45
	Consolidated Statements of Financial Condition - June 30, 2012 and December 31, 2011 - Unaudited	3
	Consolidated Statements of Operations - For the Three and Six Months Ended June 30, 2012 and 2011 - Unaudited	4-5
	Consolidated Statements of Comprehensive (Loss) Income - For the Three and Six Months Ended June 30, 2012 and 2011 - Unaudited	5
	Consolidated Statements of (Deficit) Equity - For the Three and Six Months Ended June 30, 2012 and 2011 - Unaudited	6
	Consolidated Statements of Cash Flows - For the Six Months Ended June 30, 2012 and 2011	7
	Noted to Consolidated Financial Statements - Unaudited	8-45
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	46-62
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	63
Item 4.	Controls and Procedures	63
Part II.	OTHER INFORMATION
Item 1A.	Risk Factors	64
Item 6.	Exhibits	65
	Signatures	66

BBX CAPITAL CORPORATION AND SUBSIDARIES

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - UNAUDITED

		June 30,	December 31,
(In thousands, except share data)		2012	2011
ASSETS
Cash and interest bearing deposits in other banks	$	1,193,958	770,292
Securities available for sale, at fair value		26	46,435
Tax certificates, net of allowance of $3,519 and $7,488		5,293	46,488
Loans held for sale		47,029	55,601
Loans receivable, net of allowance for loan losses of
$7,153  and $129,887		355,794	2,448,203
Accrued interest receivable		1,862	18,432
Real estate owned		86,195	87,174
Investments in unconsolidated companies		10,345	10,106
Office properties and equipment, net		2,127	139,165
Other assets		645	8,221
Assets held for sale		2,126,282	-
Federal Home Loan Bank ("FHLB") stock,
at cost which approximates fair value		-	18,308
Real estate held for sale		2,374	3,898
Goodwill		-	13,081
Prepaid FDIC deposit insurance assessment		-	12,715
Total assets	$	3,831,930	3,678,119
LIABILITIES AND (DEFICIT) EQUITY
Liabilities:
Deposits
Interest bearing deposits	$	-	2,433,226
Non-interest bearing deposits		-	846,857
Deposits held for sale		3,450,529	-
Total deposits		3,450,529	3,280,083
Subordinated debentures		-	22,000
Junior subordinated debentures		345,092	337,114
Other liabilities		21,718	55,848
Other liabilities held for sale		58,347	-
Total liabilities		3,875,686	3,695,045
Commitments and contingencies (Note 10)
(Deficit) Equity:
Preferred stock, $.01 par value, 10,000,000 shares authorized;
none issued and outstanding		-	-
Class A common stock, $.01 par value, authorized 25,000,000
shares; issued and outstanding 15,505,064 and 15,434,564 shares		155	154
Class B common stock, $.01 par value, authorized 1,800,000
shares; issued and outstanding 195,045 and 195,045 shares		2	2
Additional paid-in capital		330,263	329,995
Accumulated deficit		(353,207)	(326,692)
Accumulated other comprehensive loss		(20,969)	(20,385)
Total deficit		(43,756)	(16,926)
Total liabilities and deficit	$	3,831,930	3,678,119
See Notes to Consolidated Financial Statements - Unaudited

3

BBX CAPITAL CORPORATION AND SUBSIDARIES

CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED

(In thousands, except share and per share data) For the Three Months For the Six Months

Ended June 30, Ended June 30,

Interest income:		2012	2011	2012	2011
Interest and fees on loans	$	7,287	11,166	15,622	22,968
Interest and dividends on taxable securities		-	1	-	37
Total interest income		7,287	11,167	15,622	23,005
Interest on subordinated debentures		4,126	3,854	8,293	7,638
Net interest income		3,161	7,313	7,329	15,367
(Recovery from) provision for  loan losses		(627)	4,313	(1,392)	11,140
Net interest income after
provision forloan losses		3,788	3,000	8,721	4,227
Non-interest income:
Income from unconsolidated companies		119	432	239	813
Securities activities, net		-	(1,500)	-	(1,500)
Gain (loss) on sale of loans		-	10	3	(89)
Other		12	6	96	19
Total non-interest income		131	(1,052)	338	(757)
Non-interest expense:
Employee compensation and benefits		4,269	6,303	9,528	11,826
Occupancy and equipment		1,691	2,692	3,859	5,736
Advertising and promotion		130	145	283	258
Professional fees		3,239	658	9,436	2,786
(Recoveries) on assets held for sale		(1,165)	-	(1,165)	-
Impairments on loans held for sale		196	754	459	1,382
Impairment of real estate owned		1,793	5,826	3,534	7,514
Other		2,126	3,276	4,656	5,874
Total non-interest expense		12,279	19,654	30,590	35,376
Loss from continuing operations
before income taxes		(8,360)	(17,706)	(21,531)	(31,906)
Provision for income taxes		-	-	-	-
Loss from continuing operations		(8,360)	(17,706)	(21,531)	(31,906)
(Loss) income from discontinued operations		(3,947)	41,107	(4,984)	32,420
Net (loss) income		(12,307)	23,401	(26,515)	514
Less: net income attributable to
non-controlling interest		-	(290)	-	(585)
Net (loss) income attributable to
BBX Captial Corporation	$	(12,307)	23,111	(26,515)	(71)

Basic loss per share

4

Continuing operations	$	(0.53)	(1.38)	(1.37)	(2.54)
Discontinued operations		(0.25)	3.15	(0.32)	2.53
Basic loss per share	$	(0.78)	1.77	(1.69)	(0.01)

Diluted loss per share

Continuing operations	$	(0.53)	(1.38)	(1.37)	(2.54)
Discontinued operations		(0.25)	3.15	(0.32)	2.53
Diluted loss per share	$	(0.78)	1.77	(1.69)	(0.01)

Basic weighted average number

 of common shares outstanding 15,700,108  13,059,344  15,679,683  12,803,498 

Diluted weighted average number

of common and common
equivalent shares outstanding	15,700,108	13,059,344	15,679,683	12,803,498

See Notes to Consolidated Financial Statements - Unaudited

BBX CAPITAL CORPORATION AND SUBSIDARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - UNAUDITED

		For the Three Months		For the Six Months
		Ended June 30,		Ended June 30,
(In thousands, except share and per share data)		2012	2011	2012	2011
Net (loss) income	$	(12,307)	23,401	(26,515)	514
Other comprehensive (loss) income, net of tax:
Unrealized (loss) gain on securities available for sale		(60)	461	(584)	(258)
Provision for income taxes		-	-	-	-
Unrealized (loss) gain on securities available for sale, net of tax		(60)	461	(584)	(258)
Reclassification adjustments:
Net realized (loss) gain on securities available for sale		-	-	-	-
Reclassification adjustments		-	-	-	-
Other comprehensive (loss) income, net of tax		(60)	461	(584)	(258)
Comprehensive (loss) income		(12,367)	23,862	(27,099)	256
Less: comprehensive (loss) income attributable to
noncontrolling interest		-	290	-	585
Total comprehensive (loss) income attributable to
BBX Capital Corporation	$	(12,367)	23,572	(27,099)	(329)
See Notes to Consolidated Financial Statements - Unaudited

5

BBX CAPITAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF (DEFICIT) EQUITY

FOR THE SIX MONTHS ENDED JUNE 30, 2012 AND 2011 - UNAUDITED

					Accumulated	BBX Capital
			Additional		Other	Corporation	Non-	Total
		Common	Paid-in	(Accumulated	Comprehensive	(Deficit)	Controlling	(Deficit)
(In thousands)		Stock	Capital	Deficit)	Loss	Equity	Interest	Equity
BALANCE, DECEMBER 31, 2010	$	125	317,863	(297,615)	(6,088)	14,285	458	14,743
Net loss		-	-	(71)	-	(71)	585	514
Change in other comprehensive loss		-	-	-	(258)	(258)	-	(258)
Non-controlling interest distributions		-	-	-	-	-	(516)	(516)
Issuance of Class A Common Stock		32	10,969	-	-	11,001	-	11,001
Share based compensation expense		-	751	-	-	751	-	751
BALANCE, JUNE 30, 2011	$	157	329,583	(297,686)	(6,346)	25,708	527	26,235
BALANCE, DECEMBER 31, 2011	$	156	329,995	(326,692)	(20,385)	(16,926)	-	(16,926)
Net loss		-	-	(26,515)	-	(26,515)	-	(26,515)
Change in other comprehensive loss		-	-	-	(584)	(584)	-	(584)
Share based compensation expense		1	268	-	-	269	-	269
BALANCE, JUNE 30, 2012	$	157	330,263	(353,207)	(20,969)	(43,756)	-	(43,756)
See Notes to Consolidated Financial Statements - Unaudited

6

BBX CAPITAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

		For the Six Months
		Ended June 30,
(In thousands)		2012	2011
Net cash provided by operating activities	$	14,856	44,240
Investing activities:
Proceeds from redemption of tax certificates		22,526	40,259
Purchase of investment securities and  tax certificates		(765)	(18,567)
Proceeds from maturities of securities available for sale		12,287	107,036
Proceeds from maturities of interest bearing deposits		5,655	25,283
Redemptions of FHLB stock		9,980	11,943
Net repayments of loans		230,632	232,518
Proceeds from the sales of loans
transferred to held for sale		1,000	27,793
Proceeds from sales of real estate owned		20,553	10,197
Purchases of office property and equipment		(81)	(1,467)
Proceeds from the sale of office properties
and equipment		1,168	1,247
Net cash outflow from sale of Tampa branches		-	(257,221)
Net cash provided by investing activities		302,955	179,021
Financing activities:
Net increase (decrease) in deposits		170,446	(145,280)
Net repayments of FHLB advances		-	(170,020)
Net decrease in securities sold under
agreements to repurchase		-	(21,524)
Decrease in short-term borrowings		-	(220)
Net proceed from the issuance of Class A common stock		-	11,001
Noncontrolling interest distributions		-	(516)
Net cash provided by (used in) financing activities		170,446	(326,559)
Increase (decrease) in cash and cash equivalents		488,257	(103,298)
Cash and cash equivalents at the beginning of period		764,636	507,908
Change in cash and cash equivalents held for sale		(59,431)	5,850
Cash and cash equivalents at end of period	$	1,193,462	410,460

Cash paid (received) for:
Interest on borrowings and deposits	$	6,583	9,365
Supplementary disclosure of non-cash investing and
financing activities:
Loans and tax certificates transferred to REO		21,887	25,074
Loans receivable transferred to loans held-for-sale		16,140	55,966
See Notes to Consolidated Financial Statements - Unaudited

7

BBX Capital Corporation

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - UNAUDITED

1.  Presentation of Interim Financial Statements

Basis of Financial Statement Presentation –BBX Capital Corporation (formerly BankAtlantic Bancorp, Inc.) and its subsidiaries may also be referred to as “the Company”, “we”, “us,” or “our” in the notes to the consolidated financial statements.BBX Capital Corporation (the “Parent Company” or “BBX”) was organized under the laws of the State of Florida in 1994. BBX’s principal asset until July 31, 2012 was its investment in BankAtlantic and its subsidiaries (“BankAtlantic”).  BankAtlantic, a federal savings bank headquartered in Fort Lauderdale, Florida, provided traditional retail banking services and a wide range of commercial banking products and related financial services through a broad network of community branches located in Florida.  On July 31, 2012, BBX completed its previously announced sale to BB&T Corporation (“BB&T”) of all of the issued and outstanding shares of capital stock of BankAtlantic(the stock sale and related transactions described herein are collectively referred to as the “Transaction”).  In connection with the closing of the Transaction with BB&T, BBX has requested from the Federal Reserve deregistration as a savings and loan holding company and pending approval by the Federal Reserve, BBX expects upon such deregistration to no longer be subject to regulation by the Federal Reserve or to be subject to restrictions applicable to a savings and loan holding company. 

On November 1, 2011, the Company entered into a definitive agreement to sell BankAtlantic to BB&T, which agreement was amended on March 13, 2012 (“the Agreement”).  The Agreement was amended to, among other things, provide for the assumption by BB&T of the Company’s $285.4 million in principal amount of outstanding trust preferred securities (“TruPS”) obligations.  At the closing of the Transaction, BB&T assumed the obligations with respect to the Company’s outstanding TruPS, and the Company paid BB&T approximately $51.3 million, representing all accrued and unpaid interest on the TruPS through closing.  The Company also paid approximately $2.3 million for certain legal fees and expenses with respect to the now resolved TruPS-related litigation brought in the Delaware Chancery Court against the Company by holders of the TruPS and certain trustees.The Company funded the TruPS accrued interest and the TruPS related legal fees and expenses from proceeds received in the Transaction.

Under the terms of the Agreement, prior to the closing of the Transaction, BankAtlantic formed two subsidiaries, BBX Capital Asset Management, LLC (“CAM”) and Florida Asset Resolution Group, LLC (“FAR”).  BankAtlantic contributed to FAR certain performing and non-performing loans, tax certificates and real estate owned that had an aggregate carrying value on BankAtlantic’s balance sheet of approximately $358 million as of June 30, 2012.  FAR assumed all liabilities related to these assets.  BankAtlantic also contributed approximately $37 million in cash to FAR and thereafter distributed all of the membership interests in FAR to the Company.  At the closing of the Transaction, the Company transferred to BB&T 95% of the outstanding preferred membership interests in FAR in connection with BB&T’s assumption of the Company’s outstanding TruPS obligations, as described in further detail below. The Company continues to hold the remaining 5% of FAR’s preferred membership interests. Under the terms of the Amended and Restated Limited Liability Company agreement of FAR, which was entered into by the Company and BB&T at the closing, BB&T will hold its 95% preferred interest in the net cash flows of FAR until such time as it has recovered $285 million in preference amount plus a priority return of LIBOR + 200 basis points per annum on any unpaid preference amount. At that time, BB&T’s interest in FAR will terminate, and the Company will thereafter be entitled to any and all residual proceeds from FAR through its ownership of FAR’s Class R units. It is expected that the assets (other than cash) contributed to FAR will be monetized over a period of seven years, or longer provided BB&T’s preference amount is repaid within such seven-year period. The Company entered into an incremental $35 million guarantee in BB&T’s favor to further assure BB&T’s recovery of the $285 million preference amount within seven years.

Prior to the closing of the Transaction, BankAtlantic also contributed to CAM, certain non-performing commercial loans, commercial real estate owned and previously written-off assets that had an aggregate carrying value on BankAtlantic’s balance sheet of $126 million as of June 30, 2012.  CAM assumed all liabilities related to these assets.  BankAtlantic also contributed approximately $81 million in cash to CAM.  Prior to the closing of the Transaction, BankAtlantic distributed all of the membership interests in CAM to the Company.  CAM remains a wholly-owned subsidiary of the Company.

8

BBX Capital Corporation

Pursuant to the Agreement,the cash consideration exchanged by the parties at the closing of the Transaction in connection with the sale of BankAtlantic’s stock was based on the deposit premium and the net asset value of BankAtlantic, in each case as calculated pursuant to the terms of the Agreement, including, with respect to the net asset value of BankAtlantic, after giving effect to the asset contributions and membership interest distributions by BankAtlantic.  Based on financial information as of June 30, 2012 and the preliminary calculations of the deposit premium (which was estimated to be $315.9 million) and the net asset value of BankAtlantic, the Company received from BB&T a cash payment related to the sale of BankAtlantic’s stock of approximately $6.4 million. However, the deposit premium and net asset value of BankAtlantic as well as the resulting cash payment made to the Company are all estimates based on available financial information as of June 30, 2012. Under the terms of the Agreement, these amounts are subject to adjustment post-closing as all relevant financial information is reviewed and approved by the parties, and the cash payment made to the Company may be less than the amount indicated above or the Company may be required to make a net cash payment to BB&T. The Company expects to recognize a $307 million gain in connection with the Transaction, subject to adjustment based on the final balance sheet reconciliation procedures described in the preceding sentence.

Based on the probable sale of BankAtlantic to BB&T, the Company transferred the assets and liabilities anticipated to be transferred to BB&T to “Assets held for sale”, “Deposits held for sale” and “Other liabilities held for sale” as of March 31, 2012.  As such, the Company presented the assets and liabilities transferred to BB&T, consisting of all of BankAtlantic’s assets and liabilities less the assets and liabilities to be retained in CAM and FAR, as “Assets held for sale” and “Liabilities held for sale” in its unaudited Consolidated Statement of Financial Condition as of June  30, 2012.   While the majority of cash and interest bearing deposits in other banks were transferred to BB&T upon closing of the Transaction, with the exception of cash at BankAtlantic’s branches and automated teller machines, the cash and interest bearing deposits transferred to BB&T are not presented as “Assets held for sale” as of June  30, 2012. The assets and liabilities transferred to BB&T were measured as of June 30, 2012 on a combined basis as a single disposal group at the lower of cost or fair value less costs to sell. Accordingly, the assets and liabilities held for sale are presented in the Company’s unaudited Consolidated Statementof Financial Condition as of June  30, 2012 based on their carrying value as the Company recorded a gain associated with the Transaction.

BankAtlantic’s community banking, investment, capital services and tax certificate reporting units are reflected as “Discontinued Operations” in the Company’s unaudited Consolidated Statements of Operations for all periods presented.  The Company is continuing to service and manage and may originate commercial loans following the sale of BankAtlantic to BB&T and as a result, the results of operations for the Commercial Lending reporting unit are included in the Company’s unaudited Consolidated Statement of Operations as continuing operations for all periods presented.  The assets and liabilities transferred to BB&T were not reclassified to assets and liabilities held for sale in the Company’s Consolidated Statement of Financial Condition as of December 31, 2011.  The Consolidated Statement of Stockholders’ (Deficit) Equity, Consolidated Statements of Comprehensive (Loss) income and Consolidated Statement of Cash Flows remain unchanged from prior period historical presentation for all periods presented.  Additionally, pursuant to the Agreement, the Company agreed to sell to BB&T certain assets and liabilities associated with its Commercial Lending reporting unit and these assets and liabilities are included in assets and liabilities held for sale in the Company’s Statement of Financial Condition as of June  30, 2012.  Similarly, the Company will retain certain assets and liabilities associated with the disposed reporting units and these assets and liabilities are included in the Company’s Consolidated Statement of Financial Condition in their respective line items as of June  30, 2012.

The Company’s consolidated financial statements have been prepared on a going concern basis, which reflects the realization of assets and the repayments of liabilities in the normal course of business.

Included in cash and due from banks in the Company’s Consolidated Statement of Financial Condition as of June 30, 2012 and December 31, 2011 was $0.5 million and $5.7 million, respectively, of time deposits with other banks. These time deposits had original maturities of greater than 90 days and are not considered cash equivalents.

All significant inter-company balances and transactions have been eliminated in consolidation.  Throughout this document, the term “fair value” in each case is an estimate of fair value as discussed herein.

In management's opinion, the accompanying unaudited consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) as are necessary for a fair statement of the Company's consolidated financial condition at June  30, 2012, the consolidated results of operations and consolidated statement of comprehensive (loss) income for the three and six months ended June  30, 2012 and 2011, and the consolidated stockholders' (deficit) equity and cash flows for the six months ended June  30, 2012 and 2011.  The results of operations for the three and six months ended June  30, 2012 are not necessarily indicative of results of operations that may be expected for the year ended

9

BBX Capital Corporation

December 31, 2012.  The consolidated financial statements and related notes are presented as permitted by Form 10-Q and should be read in conjunction with the consolidated financial statements appearing in the Company's Annual Report on Form 10-K for the year ended December 31, 2011.

Certain amounts for prior years have been reclassified to conform to the revised financial statement presentation for 2012.

2.  Assets and Liabilities Held For Sale

The assets and liabilities transferred to BB&T included in the Company’s Consolidated Statement of Financial Condition consisted of the following (in thousands):

		June 30,
		2012
Cash and due from banks	$	59,431
Securities available for sale, at fair value		33,550
Tax certificates		17,736
Federal Home Loan Bank stock		8,328
Loans receivable		1,833,738
Accrued interest receivable		11,347
Office properties and equipment		129,734
Goodwill		13,081
Other assets		19,337
Total assets held for sale	$	2,126,282
Deposits
Interest free checking	$	928,527
Insured money fund savings		699,179
Now accounts		1,114,360
Savings accounts		424,848
Total non-certificate accounts		3,166,914
Certificate accounts		283,615
Total deposits held for sale	$	3,450,529
Subordinated debentures	$	22,000
Other liabilities		36,347
Total other liabilities held for sale	$	58,347
Total liabilities held for sale	$	3,508,876

10

BBX Capital Corporation

The majority of the cash and interest bearing deposits in other banks on the Company’s Consolidated Statement of Financial Position were also transferred to BB&T in the Transaction.

BankAtlantic’s five reporting units each reflect a component of the BankAtlantic entity and each is the lowest level for which cash flows can be clearly distinguished, operationally and for financial reporting purposes.  These five components are Community Banking, Commercial Lending, Tax Certificates, Investments, and Capital Services.   Based on the Agreement with BB&T, the Company determined that its Community Banking, Investments, Capital Services and Tax Certificates reporting units should be treated as discontinued operations.  The Company sold all operations and the majority of the assets and liabilities of these discontinued reporting units to BB&T on July 31, 2012.  Management does not intend to continue in any material respect any activities of or have any continuing involvement with these reporting units.  The Company intends to continue Commercial Lending reporting unit activities after the closing of the Transaction.  Therefore, although certain assets of this reporting unit will be sold to BB&T and are presented as assets and liabilities held for sale in the Consolidated Statement of Financial Condition as of June  30, 2012, the Commercial Lending reporting unit was not reported as discontinued operations.

Pursuant to the Agreement, FAR will retainin addition to certain assets associated with the Company’s continuing Commercial Lending reporting unit, certain assets and liabilities that were associated with the Company’s disposed reporting units (Community Banking, Tax Certificates, Investments, and Capital Services reporting units). The Company determined that the ongoing cash flows of the disposed reporting units were not significant relative to the historical cash flows from the activities of each reporting unit; therefore, the income and expenses associated with the disposed reporting units are reported  in discontinued operations for each period presented.  The carrying value of the disposed reporting units’ net assets anticipated to be included in FAR’s total assets discussed above was $120 million as of June  30, 2012.The assets held by FAR are expected to be monetized in accordance with the terms of such assets or through orderly transactions over a seven year period.  Ninety-five percent of the cash flows from these assets net of operating expenses and a stated preferred return will be applied toward the ongoing repayment of BB&T’s preferred interest in FAR. 

11

BBX Capital Corporation

The (loss) income from Community Banking, Investments, Capital Services and Tax Certificates reporting units included in discontinued operations in the Company’s Statement of Operations was as follows (in thousands):

For the Three Months	For the Six Months
Ended June 30,	Ended June 30,

2012 2011 2012 2011

Total interest income	$	17,924	26,113	38,651	53,780
Total interest expense		3,248	4,242	6,502	8,954

Net interest income   14,676  21,871  32,149  44,826 

Provision for loan losses	7,301	6,396	16,518	27,381
Net interest income after

 provision for loan losses 7,375  15,475  15,631  17,445 

Non-interest income:
Service charges on deposits	7,491	11,226	15,342	23,258
Other service charges and fees	5,958	6,886	11,896	14,077
Securities activities, net	(99)	-	(99)	(24)
Gain on sale of Tampa branches	-	38,656	-	38,656
Other	1,383	2,878	5,118	6,172
Total non-interest income	14,733	59,646	32,257	82,139
Non-interest expense (1):
Employee compensation and benefits	10,456	13,428	22,146	27,195
Occupancy and equipment	7,159	8,380	14,431	17,502
Advertising and promotion	919	1,378	1,935	2,961
Professional fees	395	637	2,218	1,869
Other	7,126	10,191	12,141	17,636
Total non-interest expense	26,055	34,014	52,871	67,163
(Loss) income  from
discontinued operations	(3,947)	41,107	(4,983)	32,421
Provision for income taxes	-	-	1	1

Net (loss) income  from

 discontinued operations  $ (3,947) 41,107  (4,984) 32,420 

(1)Pursuant to applicable accounting rules, all general corporate overhead was allocated to continuing operations.

3.  Liquidity Considerations

BBX had cash of $4.0 million and current liabilities of $5.8 million as of June 30, 2012.  In connection with the consummation of the Transaction on July 31, 2012, BBX received net cash proceeds of approximately $29.0 million, consisting of a $6.4 million cash payment from BB&T and approximately $22.5 million of cash held in its wholly-owned subsidiary, CAM, net of transaction costs, trustee fees and costs associated with the TruPS related litigation and payments to BB&T of accrued and unpaid TruPS interest.  BBX liquidity is primarily dependent upon the repayments of loans, sales of real estate, and obtaining funds from its 5% preferred interest in FAR.  Based on the current and expected liquidity needs and sources, the Company expects to be able to meet its liquidity needs over the next 12 months.

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BBX Capital Corporation

4.  Fair Value Measurement

The following tables present major categories of the Company’s assets measured at fair value on a recurring basis as of December 31, 2011 (in thousands):

			Fair Value Measurements  Using
			Quoted prices in
			Active Markets	Significant Other	Significant
		As of	for Identical	Observable	Unobservable
		December 31,	Assets	Inputs	Inputs
Description		2011	(Level 1)	(Level 2)	(Level 3)
Mortgage-backed securities	$	13,418	-	13,418	-
REMICS		31,690	-	31,690	-
Equity securities		1,327	827	500	-
Total	$	46,435	827	45,608	-

The Company had $26,000 of equity securities measured at fair value as of June 30, 2012 based on Level 1 inputs.

There were no recurring liabilities measured at fair value in the Company’s financial statements as of June  30, 2012 or December 31, 2011.

The valuation techniques and the inputs used in our financial statements to measure the fair value of our recurring financial instruments are described below.

The fair values of mortgage-backed and real estate mortgage conduit securities (“REMICS”) are estimated using independent pricing sources and matrix pricing. Matrix pricing uses a market approach valuation technique and Level 2 valuation inputs as quoted market prices are not available for the specific securities that the Company owns. The independent pricing sources value these securities using observable market inputs including:  benchmark yields, reported trades, broker/dealer quotes, issuer spreads and other reference data in the secondary institutional market, which is the principal market for these types of assets. To validate fair values obtained from the pricing sources, the Company reviews fair value estimates obtained from brokers, investment advisors and others to determine the reasonableness of the fair values obtained from independent pricing sources. The Company reviews any price that it determines may not be reasonable and requires the pricing sources to explain the differences in fair value or re-evaluate its estimated fair value.

Equity securities are generally fair valued using the market approach and quoted market prices (Level 1) or matrix pricing (Level 2) with inputs obtained from independent pricing sources, if available.  We also obtain non-binding broker quotes to validate fair values obtained from matrix pricing. We also invest in private limited partnerships that do not have readily determinable fair values.  We use the net asset value per share as provided by the partnership to estimate the fair value of these investments.  The net asset value of the partnership is a Level 2 input since we have the ability to require the redemption of our investment at its net asset value.

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BBX Capital Corporation

The following table presents major categories of assets measured at fair value on a non-recurring basis as of June 30, 2012 (in thousands):

Fair Value Measurements Using

Quoted prices in

		Active Markets	Significant	Significant	Total
		for Identical	Other Observable	Unobservable	Impairments (1)
	June 30,	Assets	Inputs	Inputs	For the Six
Description	2012	(Level 1)	(Level 2)	(Level 3)	Months Ended

Impaired  real estate owned $ 27,288   -  - 27,288  3,534 

Impaired loans held for sale		9,397	-	-	9,397	459
Total	$	36,685	-	-	36,685	3,993

(1) Total impairments represent the amount recognized during the six months ended June 30, 2012 on assets that were held and measured at fair value as of June 30, 2012.

Quantitative information about significant unobservable inputs within Level 3 non-recurring major categories of assets is as follows (dollars in thousands):

As of June 30, 2012		Fair	Valuation	Unobservable
Description		Value	Technique	Inputs	Range (Average) (1)
Impaired  real estate owned	$	27,288	Fair Value of Property	Appraisal	$0.4 -6.5 million (3.0 million)
Impaired loans held for sale		9,397	Fair Value of Collateral	Appraisal	$0.9 -3.6 million (1.9 million)
Total	$	36,685

(1)  Range and average appraised valueswere reduced by costs to sell.

The following table presents major categories of assets measured at fair value on a non-recurring basis as of June 30, 2011 (in thousands):

			Fair Value Measurements Using
			Quoted prices in
			Active Markets	Significant	Significant	Total
			for Identical	Other Observable	Unobservable	Impairments (1)
		June 30,	Assets	Inputs	Inputs	For the Six
Description		2011	(Level 1)	(Level 2)	(Level 3)	Months Ended
Loans measured for
impairment using the fair value
of the underlying collateral	$	265,245	-	-	265,245	24,624
Impaired loans held for sale		27,463	-	-	27,463	6,335
Impaired  real estate owned		36,044	-	-	36,044	8,830
Total	$	328,752	-	-	328,752	39,789

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BBX Capital Corporation

(1)  Total impairments represent the amount recognized during the six months ended June 30, 2011 on assets that were measured at fair value as of June 30, 2011.

There were no material liabilities measured at fair value on a non-recurring basis in the Company’s financial statements as of June 30, 2012 and December 31, 2011.

Loans Measured For Impairment

Impaired loans are generally valued based on the fair value of the underlying collateral less cost to sell. The Company primarily uses third party appraisals to assist in measuring non-homogenous impaired loans. These appraisals generally use the market or income approach valuation technique and use market observable data to formulate an opinion of the fair value of the loan’s collateral. However, the appraiser uses professional judgment in determining the fair value of the collateral or properties, and we may also adjust these values for changes in market conditions subsequent to the appraisal date. When current appraisals are not available for certain loans, we use our judgment on market conditions to adjust the most current appraisal. The sales prices may reflect prices of sales contracts not closed, and the amount of time required to sell out the real estate project may be derived from current appraisals of similar projects. As a consequence, the calculation of the fair value of the collateral are considered Level 3 inputs. The Company generally recognizes impairment losses based on third party broker price opinions or automated valuation services to obtain the fair value of the collateral less cost to sell when impaired homogenous loans become 120 days delinquent. These third party valuations from real estate professionals also use Level 3 inputs in determining fair values. The observable market inputs used to fair value loans include comparable property sales, rent rolls, market capitalization rates on income producing properties, risk adjusted discounts rates and foreclosure period and exposure periods.  The fair value of our loans may significantly increase or decrease based on property values as our loans are primarily real estate loans.

Impaired Real Estate Owned

Real estate is generally valued using third party appraisals or broker price opinions. These appraisals generally use the market approach valuation technique and use market observable data to formulate an opinion of the fair value of the properties.  The market observable data was generally comparable property sales, rent rolls, market capitalization rates on income producing properties and risk adjusted discount rates. However, the appraisers or brokers use professional judgments in determining the fair value of the properties and we may also adjust these values for changes in market conditions subsequent to the valuation date. As a consequence of using appraisals, broker price opinions and adjustments to appraisals, the fair values of the properties are considered Level 3 inputs.

Loans Held for Sale

Loans held for sale are valued using an income approach with Level 3 inputs as market quotes or sale transactions of similar loans are generally not available.  The fair value is estimated by discounting forecasted cash flows, using a discount rate that reflects the risks inherent in the loans held for sale portfolio.  For non-performing loans held for sale, the forecasted cash flows are based on the estimated fair value of the collateral less cost to sell adjusted for foreclosure expenses and other operating expenses of the underlying collateral until foreclosure or sale.

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BBX Capital Corporation

Financial Disclosures about Fair Value of Financial Instruments

Fair Value Measurements Using

Carrying Quoted prices in

	Amount		Active Markets	Significant	Significant
	As of	As of	for Identical	Other Observable	Unobservable
(in thousands)	June 30,	June 30,	Assets	Inputs	Inputs
Description	2012	2012	(Level 1)	(Level 2)	(Level 3)

Financial assets:

Cash and interest bearing
deposits in other banks	$	1,193,958	1,193,958	1,193,958	-	-
Securities available for sale		26	26	26
Tax certificates		5,293	5,346	-	-	5,346
Loans receivable including loans
held for sale, net		402,823	405,300	-	-	405,300
Financial liabilities:
Junior subordinated debentures		345,092	307,625	-	307,625	-

		December 31, 2011
		Carrying	Fair
(in thousands)		Amount	Value
Financial assets:
Cash and interest bearing
deposits in other banks	$	770,292	770,292
Securities available for sale		46,435	46,435
Tax certificates		46,488	45,562
Federal home loan bank stock		18,308	18,308
Loans receivable including loans
held for sale, net		2,503,804	2,317,144
Financial liabilities:
Deposits		3,280,083	3,279,562
Subordinated debentures		22,000	21,989
Junior subordinated debentures		337,114	226,991

Management has made estimates of fair value that it believes to be reasonable. However, because there is no active market for many of these financial instruments and management has derived the fair value of the majority of these financial instruments using the income approach technique with Level 3 unobservable inputs, the Company may not receive the estimated value upon sale or disposition of the asset or pay the estimated value upon disposition of the liability in advance of its scheduled maturity. Management estimates used in its net present value financial models rely on assumptions and judgments regarding issues where the outcome is unknown and actual results or values may differ significantly from these

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BBX Capital Corporation

estimates. The Company’s fair value estimates do not consider the tax effect that would be associated with the disposition of the assets or liabilities at their fair value estimates.

Fair values are estimated for loan portfolios with similar financial characteristics. Loans are segregated by category, and each loan category is further segmented into fixed and adjustable rate interest terms and by performing and non-performing categories.

The fair value of performing loans is calculated by using an income approach with Level 3 inputs.  The fair value of performing loans is estimated by discounting forecasted cash flows through the estimated maturity using estimated market discount rates that reflect the interest rate risk inherent in the loan portfolio. The estimate of average maturity is based on BankAtlantic's historical experience with prepayments for each loan classification, modified as required, by an estimate of the effect of current economic and lending conditions. Management assigns a credit risk premium and an illiquidity adjustment to these loans based on risk grades and delinquency status.  The fair value of non-performing collateral dependent loans is estimated using an income approach with Level 3 inputs. The fair value of non-performing loans utilizes the fair value of the collateral adjusted for operating and selling expenses and discounted over the estimated holding period based on the market risk inherent in the property.

The fair value of tax certificates is calculated using the income approach with Level 3 inputs.  The fair value is based on discounted expected cash flows using discount rates that take into account the risk of the cash flows of tax certificates relative to alternative investments.

The fair value of FHLB stock is its carrying amount as the FHLB redeems its stock at par.

As permitted by applicable accounting guidance, the fair value of deposits with no stated maturity, such as non-interest bearing demand deposits, savings and NOW accounts, and money market and checking accounts, is shown in the above table at book value. The fair value of certificates of deposit is based on an income approach with Level 3 inputs.  The fair value is calculated by the discounted value of contractual cash flows with the discount rate estimated using current rates offered by BankAtlantic for similar remaining maturities.

The fair value of BankAtlantic’s subordinated debentures was based on discounted values of contractual cash flows at a market discount rate adjusted for non-performance risk (Level 3 inputs).

In determining the fair value of all of the Company’s junior subordinated debentures, the Company used NASDAQ price quotes available with respect to its $76.6 million of publicly traded trust preferred securities related to its junior subordinated debentures (“public debentures”). However, $268.5 million of the outstanding trust preferred securities related to its junior subordinated debentures are not traded, but are privately held in pools (“private debentures”) and with no liquidity or readily determinable source for valuation. We have deferred the payment of interest with respect to all of our junior subordinated debentures as permitted by the terms of these securities.  Based on the deferral status and the lack of liquidity and ability of a holder to actively sell such private debentures, the fair value of these private debentures may be subject to a greater discount to par and have a lower fair value than indicated by the public debenture price quotes.  However, due to their private nature and the lack of a trading market, fair value of the private debentures was not readily determinable at June 30, 2012 and December 31, 2011, and as a practical alternative, management used the NASDAQ price quotes of the public debentures to value all of the outstanding junior subordinated debentures whether privately held or public traded.  As such, the private debentures were valued using Level 2 inputs.

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BBX Capital Corporation

5.   Securities Available for Sale

The following table summarizes securities available for sale (in thousands):

		As of December 31, 2011
			Gross	Gross
		Amortized	Unrealized	Unrealized	Estimated
		Cost	Gains	Losses	Fair Value
Government agency securities:
Mortgage-backed securities	$	12,533	885	-	13,418
Real estate mortgage investment conduits		30,561	1,129	-	31,690
Total		43,094	2,014	-	45,108
Equity securities		1,260	67	-	1,327
Total	$	44,354	2,081	-	46,435

The Company had equity securities available for sale with a cost of $10,000 and a fair value of $26,000 as of June 30, 2012.

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BBX Capital Corporation

6.  Loans Receivable

The loan disclosures in this note as of June 30, 2012 includes loans in the Company’s asset workout subsidiary and only those loans which were to be transferred to FAR or CAM in connection with the Transaction and excludes $1.8 billion of loans to be transferred to BB&T under the terms of the Agreement.  The loans transferred to BB&T are included in assets held for sale as of June 30, 2012. 

The loan portfolio consisted of the following (in thousands):

		June 30,	December 31,
		2012	2011
Commercial non-real estate	$	28,167	118,145
Commercial real estate:
Residential		60,894	104,593
Land		3,496	24,202
Owner occupied		8,100	86,809
Other		161,180	464,902
Small Business:
Real estate		19,963	184,919
Non-real estate		11,755	99,835
Consumer:
Consumer - home equity		19,958	545,908
Consumer other		30	10,704
Deposit overdrafts		-	1,971
Residential:
Residential-interest only		18,077	375,498
Residential-amortizing		31,065	558,026
Total gross loans		362,685	2,575,512
Adjustments:
Premiums, discounts and net deferred fees		262	2,578
Allowance for loan  losses		(7,153)	(129,887)
Loans receivable -- net	$	355,794	2,448,203
Loans held for sale	$	47,029	55,601

Loans held for sale - Loans held for sale as of June 30, 2012 consisted of $30.9 million of commercial real estate loans and $16.1 million of residential loans.  Loans held for sale as of December 31, 2011 consisted of $35.8 million of commercial real estate loans and $19.8 million of residential loans. The Company transfers loans to held-for-sale when, based on the current economic environment and related market conditions, it does not have the intent to hold those loans for the foreseeable future.

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BBX Capital Corporation

The recorded investment (unpaid principal balance less charge-offs and deferred fees) of non-accrual loans receivable and loans held for sale was (in thousands):

	June 30,	December 31,
Loan Class	2012	2011

Commercial non-real estate $ 5,607  19,172 

Commercial real estate:
Residential		63,381	71,719
Land		12,888	14,839
Owner occupied		3,140	4,168
Other		91,590	123,396
Small business:
Real estate		4,887	10,265
Non-real estate		1,380	1,751
Consumer		8,261	14,134
Residential:
Interest only		22,085	33,202
Amortizing		35,005	52,653
Total nonaccrual loans	$	248,224	345,299

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BBX Capital Corporation

An age analysis of the past due recorded investment in loans receivable and loans held for sale as of June 30, 2012 and December 31, 2011 was as follows (in thousands):

							Total
		31-59 Days	60-89 Days	90 Days	Total		Loans
June 30, 2012		Past Due	Past Due	or More	Past Due	Current	Receivable
Commercial non-real estate	$	2,500	1,093	1,381	4,974	23,193	28,167
Commercial real estate:
Residential		-	-	46,328	46,328	18,590	64,918
Land		-	-	12,888	12,888	-	12,888
Owner occupied		-	138	3,002	3,140	6,242	9,382
Other		-	-	42,149	42,149	135,085	177,234
Small business:
Real estate		893	-	4,127	5,020	15,092	20,112
Non-real estate		20	-	-	20	11,735	11,755
Consumer		719	1,134	8,261	10,114	10,003	20,117
Residential:
Residential-interest only		397	-	21,779	22,176	1,286	23,462
Residential-amortizing		1,358	779	32,292	34,429	7,512	41,941
Total	$	5,887	3,144	172,207	181,238	228,738	409,976

							Total
		31-59 Days	60-89 Days	90 Days	Total		Loans
December 31, 2011		Past Due	Past Due	or More (1)	Past Due	Current	Receivable
Commercial non-real estate	$	-	2,248	13,292	15,540	102,605	118,145
Commercial real estate:
Residential		-	-	44,633	44,633	64,134	108,767
Land		681	-	14,839	15,520	18,070	33,590
Owner occupied		2,008	-	4,031	6,039	82,102	88,141
Other		-	5,467	47,841	53,308	431,399	484,707
Small business:
Real estate		2,089	372	9,449	11,910	173,009	184,919
Non-real estate		-	462	76	538	99,187	99,725
Consumer		5,339	3,996	14,134	23,469	538,569	562,038
Residential:
Residential-interest only		2,656	3,488	32,317	38,461	343,958	382,419
Residential-amortizing		3,968	4,513	48,189	56,670	514,570	571,240
Total	$	16,741	20,546	228,801	266,088	2,367,603	2,633,691

(1)  Includes an $80,000 commercial loan that was past due greater than 90 days and still accruing.

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BBX Capital Corporation

The activity in the allowance for loan losses by portfolio segment for the three months ended June 30, 2012 was as follows (in thousands):

			Commercial
		Commercial	Real	Small
		Non-Real Estate	Estate	Business	Consumer	Residential	Total
Allowance for Loan Losses:
Beginning balance	$	1,359	4,212	1,020	366	210	7,167
Charge-off :		-	(1,778)	(748)	(849)	(1,547)	(4,922)
Recoveries :		386	1,631	128	236	281	2,662
Provision :		(945)	318	-	-	-	(627)
Discontinued operations
provision:		-	-	926	654	1,293	2,873
Transfer to assets held for sale:		-	-	-	-	-	-
Ending balance	$	800	4,383	1,326	407	237	7,153
Ending balance individually
evaluated for impairment	$	237	1,265	790	-	-	2,292
Ending balance collectively
evaluated for impairment		563	3,118	536	407	237	4,861
Total	$	800	4,383	1,326	407	237	7,153
Loans receivable:
Ending balance individually
evaluated for impairment	$	7,361	194,168	957	7,907	40,331	250,724
Ending balance collectively
evaluated for impairment	$	20,806	39,502	30,761	12,081	8,811	111,961
Total	$	28,167	233,670	31,718	19,988	49,142	362,685
Purchases of loans	$	-	-	-	-	-	-
Proceeds from loan sales	$	-	-	-	-	-	-
Transfer to loans held for sale	$	-	-	-	-	-	-

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BBX Capital Corporation

The activity in the allowance for loan losses by portfolio segment for the three months ended June 30, 2011 was as follows (in thousands):

	Commercial
Commercial	Real	Small
Non-Real Estate	Estate	Business	Consumer	Residential	Total

Allowance for Loan Losses:

Beginning balance	$	10,708	79,142	10,125	27,511	27,565	155,051
Charge-offs:		(124)	(15,100)	(2,010)	(6,379)	(5,767)	(29,380)
Recoveries :		57	75	203	492	435	1,262
Provision :		376	3,937	-	-	-	4,313
Discontinued operations
provision:		-	-	1,535	3,375	1,487	6,397
Ending balance	$	11,017	68,054	9,853	24,999	23,720	137,643
Ending balance individually
evaluated for impairment	$	9,618	47,638	1,595	1,671	4,555	65,077
Ending balance collectively
evaluated for impairment		1,399	20,416	8,258	23,328	19,165	72,566
Total	$	11,017	68,054	9,853	24,999	23,720	137,643
Loans receivable:
Ending balance individually
evaluated for impairment	$	34,569	285,325	10,370	24,576	57,740	412,580
Ending balance collectively
evaluated for impairment	$	90,261	466,287	282,388	568,561	982,126	2,389,623
Total	$	124,830	751,612	292,758	593,137	1,039,866	2,802,203
Purchases of loans	$	-	-	-	-	9,816	9,816
Proceeds from loan sales	$	-	24,693	-	-	4,983	29,676
Transfer to loans held for sale	$	-	28,444	-	-	-	28,444

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BBX Capital Corporation

The activity in the allowance for loan losses by portfolio segment for the six months ended June 30, 2012 was as follows (in thousands):

			Commercial
		Commercial	Real	Small
		Non-Real Estate	Estate	Business	Consumer	Residential	Total
Allowance for Loan Losses:
Beginning balance	$	16,407	67,054	7,168	22,554	16,704	129,887
Charge-off :		(14,615)	(53,281)	(2,372)	(7,413)	(11,756)	(89,437)
Recoveries :		440	1,631	270	1,031	1,277	4,649
Provision :		465	(1,857)	-	-	-	(1,392)
Transfer to held for sale:		(1,897)	(9,164)	(4,454)	(20,639)	(12,491)	(48,645)
Discontinued operations
Provision:		-	-	714	4,874	6,503	12,091
Ending balance	$	800	4,383	1,326	407	237	7,153
Purchases of loans	$	-	-	-	-	-	-
Proceeds from loan sales	$	-	1,000	-		-	1,000
Transfer to held for sale	$	-	16,140	-	-	-	16,140

The activity in the allowance for loan losses by portfolio segment for the six months ended June 30, 2011 was as follows (in thousands):

	Commercial
Commercial	Real	Small
Non-Real Estate	Estate	Business	Consumer	Residential	Total

Allowance for Loan Losses:

Beginning balance	$	10,786	83,859	11,514	32,043	23,937	162,139
Charge-off :		(588)	(26,152)	(4,621)	(14,193)	(13,778)	(59,332)
Recoveries :		848	793	513	900	566	3,620
Provision :		(29)	11,169	-	-	-	11,140
Transfer to held for sale:		-	(1,615)	-	-	(5,691)	(7,306)
Discontinued operations
provision:		-	-	2,447	6,249	18,686	27,382
Ending balance	$	11,017	68,054	9,853	24,999	23,720	137,643
Purchases of loans	$	-	-	-	-	13,680	13,680
Proceeds from loan sales	$	-	27,793	-		12,601	40,394
Transfer to held for sale	$	-	30,894	-	-	25,072	55,966

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BBX Capital Corporation

As part of the transition of the regulation of OTS savings associations to the OCC, the OCC  provided  guidance to thrifts related to their transition to OCC regulatory reporting, which was to be implemented no later than March 31, 2012, including  guidance surrounding specific valuation allowances on collateral dependent loans.  Under OCC guidance, where the appraised value of collateral on a collateral dependent loan is less than the recorded investment of the loan, a charge-off of the amount of the deficiency rather than a specific valuation allowance is now generally required. Management considered the appraisals on its impaired collateral dependent loans, including appraised values and appraisal dates and during the first quarter of 2012, the Company charged down the recorded investment of loans by $66.5 million to the fair value of the collateral less cost to sell.  This charge down consisted entirely of the charging off of existing specific valuation allowances.  As  a specific valuation allowance was previously established for these loans, the charge-offs did not impact the provision for loan losses or the net loss during the three months ended March 31, 2012, but  did reduce the Company’s allowance for loan losses and recorded investment in the loans. 

Impaired Loans -  Loans are considered impaired when, based on current information and events, the Company believes it is probable that it will be unable to collect all amounts due according to the contractual terms of the loan agreement. For a loan that has been restructured, the contractual terms of the loan agreement refer to the contractual terms specified by the original loan agreement, not the contractual terms specified by the restructured agreement.  Impairment is evaluated based on past due status for consumer and residential loans.  Impairment is evaluated as part of the Company’s on-going credit monitoring process for commercial and small business loans which results in the evaluation for impairment of substandard loans.  Factors considered in determining if a loan is impaired are past payment history, strength of the borrower or guarantors, and cash flow associated with the collateral or business.    If a loan is impaired, a specific valuation allowance is allocated, if necessary, based on the present value of estimated future cash flows using the loan’s existing interest rate or based on the fair value of the loan. Collateral dependent impaired loans are charged down to the fair value of collateral less cost to sell. Interest payments on impaired loans for all loan classes are recognized on a cash basis, unless collectability of the principal and interest amount is probable, in which case interest is recognized on an accrual basis. Impaired loans, or portions thereof, are charged off when deemed uncollectible.  Impaired loans held for sale are measured for impairment based on the estimated fair value of the collateral less cost to sell adjusted for foreclosure expenses and other operating expenses of the underlying collateral until foreclosure and sale.

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BBX Capital Corporation

Impaired loans as of June 30, 2012 and December 31, 2011 were as follows (in thousands):

As of June 30, 2012 As of December 31, 2011

	Unpaid			Unpaid
Recorded	Principal	Related	Recorded	Principal	Related
Investment	Balance	Allowance	Investment	Balance	Allowance

With a related allowance recorded:

Commercial non-real estate	$	1,174	1,174	237	17,792	17,792	15,408
Commercial real estate:
Residential		7,544	12,411	67	64,841	70,780	20,986
Land		-	-	-	5,451	5,451	1,765
Owner occupied		-	-	-	1,715	1,715	100
Other		35,307	50,429	1,198	130,771	149,742	29,731
Small business:
Real estate		-	-	-	6,499	6,499	85
Non-real estate		957	957	790	1,339	1,339	776
Consumer		-	-	-	15,951	17,502	1,454
Residential:
Residential-interest only		-	-	-	15,441	20,667	2,982
Residential-amortizing		-	-	-	20,554	24,545	3,960
Total with allowance recorded	$	44,982	64,971	2,292	280,354	316,032	77,247
With no related allowance recorded:
Commercial non-real estate	$	6,933	7,059	-	5,922	5,922	-
Commercial real estate:
Residential		56,297	122,432	-	26,735	71,759	-
Land		12,887	35,768	-	9,388	30,314	-
Owner occupied		4,549	6,523	-	3,882	4,872	-
Other		108,901	147,666	-	63,024	86,052	-
Small business:
Real estate		10,566	12,167	-	10,265	12,007	-
Non-real estate		744	868	-	792	1,107	-
Consumer		18,723	22,966	-	9,719	13,246	-
Residential:
Residential-interest only		22,085	38,244	-	17,761	28,042	-
Residential-amortizing		37,075	53,254	-	34,494	45,680	-
Total with no allowance recorded	$	278,760	446,947	-	181,982	299,001	-
Commercial non-real estate	$	8,107	8,233	237	23,714	23,714	15,408
Commercial real estate		225,485	375,229	1,265	305,807	420,685	52,582
Small business		12,267	13,992	790	18,895	20,952	861
Consumer		18,723	22,966	-	25,670	30,748	1,454
Residential		59,160	91,498	-	88,250	118,934	6,942
Total	$	323,742	511,918	2,292	462,336	615,033	77,247

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BBX Capital Corporation

 Average recorded investment and interest income recognized on impaired loans as of June 30, 2012 were (in thousands):

For the Three Months Ended	For the Six Months Ended
June 30, 2012	June 30, 2012

Average Recorded Interest Income Average Recorded Interest Income

Investment Recognized Investment Recognized

With an allowance recorded:

Commercial non-real estate	$	1,187	-	1,183	-
Commercial real estate:
Residential		8,136	73	10,309	150
Land		-	-
Owner occupied		-	-
Other		35,361	251	35,447	503
Small business:
Real estate		-	-	-	-
Non-real estate		958	-	959	-
Consumer		-	-	-	-
Residential:
Residential-interest only		-	-	-	-
Residential-amortizing		-	-	-	-
Total with allowance recorded	$	45,642	324	47,898	653
With no related allowance recorded:
Commercial non-real estate	$	6,954	62	6,413	80
Commercial real estate:
Residential		59,357	139	68,429	365
Land		13,301	-	14,165	-
Owner occupied		5,618	22	5,671	36
Other		112,515	582	123,108	1,169
Small business:
Real estate		10,659	109	10,693	215
Non-real estate		752	10	760	22
Consumer		19,140	82	19,340	163
Residential:
Residential-interest only		22,812	-	21,128	-
Residential-amortizing		39,030	32	38,877	64
Total with no allowance recorded	$	290,138	1,038	308,584	2,114
Commercial non-real estate	$	8,141	62	7,596	80
Commercial real estate		234,288	1,067	257,129	2,223
Small business		12,369	119	12,412	237
Consumer		19,140	82	19,340	163
Residential		61,842	32	60,005	64
Total	$	335,780	1,362	356,482	2,767

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BBX Capital Corporation

Average recorded investment and interest income recognized on impaired loans as of June 30, 2011 were (in thousands):

For the Three Months Ended	For the Six Months Ended
June 30, 2011	June 30, 2011

Average Recorded Interest Income Average Recorded Interest Income

Investment Recognized Investment Recognized

With an allowance recorded:

Commercial non-real estate	$	15,404	168	15,872	184
Commercial real estate:
Residential		91,127	841	87,995	1,251
Land		5,369	25	8,649	50
Owner occupied		3,028	-	2,583	-
Other		100,280	388	98,751	682
Small business:
Real estate		8,209	-	6,340	-
Non-real estate		1,941	-	1,887	-
Consumer		17,675	-	13,026	-
Residential:
Residential-interest only		14,413	-	20,210	-
Residential-amortizing		15,342	-	18,434	-
Total with allowance recorded	$	272,788	1,422	273,747	2,167
With no related allowance recorded:
Commercial non-real estate	$	11,746	2	8,329	8
Commercial real estate:
Residential		21,203	40	29,080	110
Land		16,638	-	15,771	-
Owner occupied		5,018	33	4,652	69
Other		80,084	536	80,513	778
Small business:
Real estate		9,334	122	11,465	252
Non-real estate		624	7	473	14
Consumer		9,668	111	14,122	222
Residential:
Residential-interest only		21,740	-	16,969	-
Residential-amortizing		32,948	32	30,520	60
Total with no allowance recorded	$	209,003	883	211,894	1,513
Commercial non-real estate	$	27,150	170	24,201	192
Commercial real estate		322,747	1,863	327,994	2,940
Small business		20,108	129	20,165	266
Consumer		27,343	111	27,148	222
Residential		84,443	32	86,133	60
Total	$	481,791	2,305	485,641	3,680

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BBX Capital Corporation

Impaired loans without specific valuation allowances represent loans that were written-down to the fair value of the collateral less cost to sell, loans in which the collateral value less cost to sell was greater than the carrying value of the loan, loans in which the present value of the cash flows discounted at the loans’ effective interest rate were equal to or greater than the carrying value of the loans, or large groups of smaller-balance homogeneous loans that were collectively measured for impairment.

The Company monitors impaired collateral dependent loans and performs an impairment analysis on these loans quarterly. Generally, a full appraisal is obtained when a real estate loan is initially evaluated for impairment and an updated full appraisal is obtained within one year from the prior appraisal date, or earlier if management deems it appropriate based on significant changes in market conditions.  In instances where a property is in the process of foreclosure, an updated appraisal may be postponed beyond one year, as an appraisal is required on the date of foreclosure; however, such loans are subject to quarterly impairment analyses.  Included in total impaired loans as of June 30, 2012 was $162.4 million of collateral dependent loans, of which $71.1 million were measured for impairment using current appraisals and $91.3 million were measured by adjusting appraisals greater than six months old, as appropriate, to reflect changes in market conditions subsequent to the last appraisal date.   Appraised values with respect to 7 loans which did not have current appraisals were adjusted down by an aggregate amount of $2.5 million based on changes in market conditions since the appraisal date.  

The Company had commitments to lend $0.2 million of additional funds on impaired loans as of June 30, 2012.

Credit Quality Information

Management monitors delinquency trends, net charge-off levels of classified loans, impaired loans and general economic conditions nationwide and in Florida in an effort to assess loan credit quality. The Company uses a risk grading matrix to monitor credit quality for commercial and small business loans.  Risk grades are assigned to each commercial and small business loan upon origination. The loan officers monitor the risk grades and these risk grades are reviewed periodically by a third party consultant.  The Company assigns risk grades on a scale of 1 to 13.  A general description of the risk grades is as follows:

Grades 1 to 7 – The loans in these risk grades are generally well protected by the current net worth and paying capacity of the borrower or guarantors or by the fair value, less cost to sell, of the underlying collateral.

Grades 8 to 9 – Not used.

Grade 10 – These loans are considered to have potential weaknesses that deserve management’s close attention. While these loans do not expose the Company to immediate risk of loss, if left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan.  

Grade 11 – These loans are considered to be inadequately protected by the current sound net worth and paying capacity of the borrower or guarantors or by the collateral pledged, if any.  Loans in this grade have well-defined weaknesses that jeopardize the liquidation of the loan and there is a distinct possibility that the Company may sustain some credit loss if the weaknesses are not corrected.

Grade 12 – These loans are considered to have all the weaknesses of a Grade 11 with the added characteristic that the weaknesses make collection of the Company’s investment in the loan highly questionable and improbable on the basis of currently known facts, conditions and fair values of the collateral. 

Grade 13 – These loans, or portions thereof, are considered uncollectible and of such little value that continuance on the Company’s books as an asset is not warranted. Such loans are generally charged down or completely charged off.   

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BBX Capital Corporation

The following table presents risk grades for commercial and small business loans including loans held for sale as of June 30, 2012 (in thousands):

		Commercial			Owner Occupied	Other	Small	Small
		Non	Commercial	Commercial	Commercial	Commercial	Business	Business
		Real Estate	Residential	Land	Real Estate	Real Estate	Real Estate	Non-Real Estate
Grade:
Grades 1 to 7	$	188	-	-	5,285	25,945	-	695
Grade 10		2,068	1,538	-	-	21,220	2,213	4,180
Grade 11		25,911	63,380	12,888	4,097	130,069	17,899	6,880
Total	$	28,167	64,918	12,888	9,382	177,234	20,112	11,755

The following table presents risk grades for commercial and small business loans including loans held for sale as of  December 31, 2011 (in thousands):

		Commercial			Owner Occupied	Other	Small	Small
		Non	Commercial	Commercial	Commercial	Commercial	Business	Business
		Real Estate	Residential	Land	Real Estate	Real Estate	Real Estate	Non-Real Estate
Risk Grade:
Grades 1 to 7	$	71,798	16,085	18,752	82,251	250,238	157,237	85,942
Grade 10		6,021	1,375	-	-	50,208	2,837	4,306
Grade 11		40,326	91,307	14,838	5,890	184,261	24,845	9,477
Total	$	118,145	108,767	33,590	88,141	484,707	184,919	99,725

The Company monitors the credit quality of residential loans based on loan-to-value ratios of the underlying collateral.  Elevated loan-to-value ratios indicate the likelihood of increased credit losses upon default which results in higher loan portfolio credit risk.

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BBX Capital Corporation

The loan-to-value ratios of the Company’s residential loans were as follows (in thousands):

		As of June 30, 2012 (1)		As of December 31, 2011 (1)
		Residential	Residential	Residential	Residential
Loan-to-value ratios		Interest Only	Amortizing	Interest Only	Amortizing
Ratios not available (2)	$	4,764	19,081	124,868	304,372
=<60%		413	3,532	20,314	68,817
60.1% - 70%		548	1,148	10,316	30,033
70.1% - 80%		254	1,791	24,784	32,271
80.1% - 90%		988	2,000	27,622	27,523
>90.1%		16,496	14,388	174,515	108,224
Total	$	23,463	41,940	382,419	571,240

(1) Current loan-to-value ratios (“LTV”) for the majority of the portfolio were obtained as of the second quarter of 2011 based on automated valuation models.

(2)  Ratios not available consisted of properties not found in the automated valuation database, and $10.0 million and $78.8 million as of June 30, 2012 and December 31, 2011, respectively, of loans originated under the community reinvestment act program that are not monitored based on loan-to-value.

The Company monitors the credit quality of its portfolio of consumer loans secured by real estate utilizing loan-to-value ratios at origination. The Company’s experience indicates that default rates are significantly lower with loans that have lower loan-to-value ratios at origination.

The loan-to-value ratios at loan origination of the Company’s consumer loans secured by real estate were as follows (in thousands):

		Consumer Home Equity
		June 30,	December 31,
Loan-to-value ratios		2012	2011
<70%	$	16,931	334,050
70.1% - 80%		2,001	97,516
80.1% - 90%		1,026	62,674
90.1% -100%		-	40,327
>100%		-	11,341
Total	$	19,958	545,908

The Company monitors the credit quality of its consumer non-real estate loans based on loan delinquencies.

The restructuring of a loan is considered a “troubled debt restructuring” if both (i) the borrower is experiencing financial difficulties and (ii) the creditor has granted a concession. Concessions may include interest rate reductions or below market interest rates, principal forgiveness, restructuring amortization schedules, extending loan maturities, deferring loan payments until the loan maturity date and other actions intended to minimize potential losses. The majority of concessions for consumer loans involved changing monthly payments from interest and principal payments to interest only payments or deferring several monthly loan payments until the loan maturity date.  Commercial real estate and non-real estate loan concessions were primarily below market interest rates based on the risk profile of the loan and extensions of maturity dates. 

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BBX Capital Corporation

Residential and small business loan concessions primarily involved reductions of monthly payments through extensions of the amortization period and/or deferral of monthly payments.

There was no financial statement effect of consumer and residential troubled debt restructured loans as the affected loans were generally on non-accrual status and measured for impairment before the restructuring. The financial statement effects of commercial and small business troubled debt restructured loans was the establishment of specific valuation allowances, if any, in place of the general allowance for those loans that had not already been placed on nonaccrual status. There was an impact to the allowance for loan losses as a result of the concessions made, as the concessions generally result from the expectation of slower future cash flows.

Troubled debt restructurings during the three months ended June 30, 2012 and 2011 were as follows (dollars in thousands):

For the Three Months Ended

June 30, 2012 June 30, 2011

	Recorded		Recorded
Number	Investment	Number	Investment

Troubled Debt Restructurings

Commercial non-real estate	-	$	-	3	$	2,211
Commercial real estate:
Residential	-		-	6		20,743
Land	-		-	-		-
Owner occupied	-		-	1		692
Other	-		-	4		39,880
Small business:
Real estate	-		-	-		-
Non-real estate	-		-	-		-
Consumer	1		47	3		410
Residential:
Residential-interest only	-		-	-		-
Residential-amortizing	-		-	4		294
Total Troubled Debt Restructured	1	$	47	21	$	64,230

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BBX Capital Corporation

Troubled debt restructurings during the six months ended June 30, 2012 and 2011 were as follows (dollars in thousands):

	For the Six Months Ended
	June 30, 2012			June 30, 2011
			Recorded			Recorded
	Number		Investment	Number		Investment
Troubled Debt Restructurings
Commercial non-real estate	-	$	-	3	$	2211
Commercial real estate:
Residential	-		-	6		20,743
Land	-		-	-		-
Owner occupied	-		-	1		692
Other	-		-	7		50,998
Small business:
Real estate	2		342	-		-
Non-real estate	-		-	-		-
Consumer	1		47	4		460
Residential:
Residential-interest only	-		-	1		547
Residential-amortizing	1		62	12		1,695
Total Troubled Debt Restructured	4	$	451	34	$	77,346

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BBX Capital Corporation

The following table represents the recorded investment of loans that were modified in troubled debt restructurings beginning January 1, 2011 and 2010 and experienced a payment default during the three months ended June 30,  2012 and 2011 (dollars in thousands):

	For the Three Months Ended
	June 30, 2012			June 30, 2011
			Recorded			Recorded
	Number		Investment	Number		Investment
Troubled Debt Restructurings which
have subsequently defaulted:
Commercial non-real estate	-	$	-	-	$	-
Commercial real estate:
Residential	-		-	2		6,869
Land	-		-	-		-
Owner occupied	-		-	2		613
Other	-		-	1		6,102
Small business:
Real estate	-		-	1		156
Non-real estate	-		-	-		-
Consumer	-		-	8		757
Residential:
Residential-interest only	-		-	1		547
Residential-amortizing	2		177	5		1,071
Total Troubled Debt Restructured	2	$	177	20	$	16,115

34

BBX Capital Corporation

The following table represents the recorded investment of loans that were modified in troubled debt restructurings beginning January 1, 2011 and 2010 and experienced a payment default during the six months ended June 30,  2012 and 2011 (dollars in thousands):

	For the Six Months Ended
	June 30, 2012			June 30, 2011
			Recorded			Recorded
	Number		Investment	Number		Investment
Troubled Debt Restructurings which
have subsequently defaulted:
Commercial non-real estate	-	$	-	-	$	-
Commercial real estate:
Residential	-		-	2		6,869
Land	-		-	1		3,458
Owner occupied	-		-	3		1,473
Other	-		-	1		6,102
Small business:
Real estate	-		-	1		156
Non-real estate	-		-	-		-
Consumer	-		-	9		777
Residential:
Residential-interest only	-		-	1		547
Residential-amortizing	2		177	5		1,071
Total Troubled Debt Restructured	2	$	177	23	$	20,453

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BBX Capital Corporation

7.    Share-based Compensation and Common Stock

Share-based Compensation

In February 2010, the Board of Directors granted to employees awards of 320,000 shares of restricted Class A Common Stock (“RSAs”) under the BankAtlantic Bancorp, Inc. 2005 Restricted Stock and Option Plan.  The Board of Directors also granted 15,000 RSAs to employees of BFC Financial Corporation (“BFC”) that perform services for the Company.  The RSAs vest pro-rata over four years and had a fair value of $6.20 per share at the grant date. 

The following is a summary of the Company’s non-vested restricted Class A common share activity:

	Class A		Weighted
	Non-vested		Average
	Restricted		Grant date
	Stock		Fair Value
Outstanding at December 31, 2010	313,780	$	7.40
Vested	(86,730)		8.55
Forfeited	(7,250)		6.20
Granted	-		-
Outstanding at June 30, 2011	219,800	$	6.99
Outstanding at December 31, 2011	211,900	$	6.96
Vested	(70,500)		6.20
Forfeited	(4,000)		6.20
Granted	-		-
Outstanding at June 30, 2012	137,400	$	7.37

As of June  30, 2012, the total unrecognized compensation cost related to non-vested restricted stock compensation was approximately $0.8 million. The cost of these non-vested RSAs is expected to be recognized over a weighted-average period of approximately one year.  The fair value of shares vested during the three and six months ended June 30, 2012 was $0 and $247,000, respectively, compared to $38,000 and $444,000 during the three and six months ended June 30, 2011, respectively.  In accordance with the July 2012 approval of the Compensation Committee of the Board of Directors of the Company, the vesting of 72,400 shares of non-vested RSAs was accelerated with respect to employees employed by BankAtlantic at the closing of the Transaction.  As a consequence, the Company recognized $0.4 million of compensation expense upon the vesting of the RSA’s on July 31, 2012. 

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BBX Capital Corporation

8.   Related Parties

The Company, BFC and Bluegreen Corp. (“Bluegreen”) may be deemed to be under common control.  The controlling shareholder of the Company and Bluegreen is BFC.  Shares of BFC’s capital stock representing a majority of the voting power are owned or controlled by the Company’s Chairman and Vice Chairman, both of whom are also directors of the Company, executive officers and directors of BFC and directors of Bluegreen. The Company, BFC and Bluegreen share certain office premises and employee services, pursuant to the agreements described below.

In March 2008, BankAtlantic entered into an agreement with BFC to provide information technology support in exchange for monthly payments by BFC to BankAtlantic. In May 2008, BankAtlantic also entered into a lease agreement with BFC under which BFC pays BankAtlantic monthly rent for office space in BankAtlantic’s corporate headquarters. 

The Company maintains service agreements with BFC pursuant to which BFC provides human resources, risk management and investor relations services to the Company.  BFC is compensated for these services based on its cost. 

During the second quarter of 2010, BankAtlantic and the Parent Company entered into a real estate advisory service agreement with BFC for assistance relating to the work-out of loans and the sale of real estate owned.  BFC is compensated $12,500 per month by each of BankAtlantic and the Parent Company and, if BFC’s efforts result in net recoveries of any non-performing loan or the sale of real estate owned, it will receive a fee equal to 1% of the net value recovered. During the three and six months ended June 30, 2012, the Company incurred $0.1 million and $0.2 million, respectively, of real estate advisory service fees under this agreement compared to $0.2 million and $0.3 million during three and six months ended June 30, 2011, respectively.  This real estate advisory service agreement was terminated effective upon the closing of the Transaction.

The table below shows the effect of service arrangements with related parties on the Company’s consolidated statements of operations for the three and six months ended June 30, 2012 and 2011 (in thousands):

		For the Three Months Ended		For the Six Months Ended
		June 30,		June 30,
		2012	2011	2012	2011
Non-interest income:	$	97	93	180	210
Non-interest expense:
Employee compensation
and benefits		(8)	(16)	(17)	(32)
Other - back-office support		(336)	(574)	(804)	(972)
Net effect of affiliate transactions
before income taxes	$	(247)	(497)	(641)	(794)

37

BBX Capital Corporation

The Company, in prior periods, issued options to acquire shares of the Company’s Class A Common Stock to employees of BFC. Additionally, employees of the Company have transferred to affiliate companies and the Company has elected, in accordance with the terms of the Company’s stock option plans, not to cancel the stock options held by those former employees.  The Company also issues options and restricted stock awards to BFC employees that perform services for the Company.  During the year ended December 31, 2010, the Company granted 15,000 RSAs to BFC employees that perform services for the Company. These stock awards vest pro-rata over a four year period.  The Company recorded $8,000, and $17,000 of expenses relating to all options and restricted stock awards held by employees of affiliated companies for the three and six months ended June 30, 2012,  compared to expenses of $16,000 and $32,000 during the three and six months ended June 30, 2011, respectively.  

Options and non-vested restricted stock outstanding to BFC employees consisted of the following as of June 30, 2012:

	Class A		Weighted
	Common		Average
	Stock		Price
Options outstanding	5,667	$	333.85
Non-vested restricted stock	7,500		-

The Company’s Compensation Committee of the Board of Directors approved the acceleration of vesting of the RSAs issued to BFC employees who were employed by BankAtlantic upon the closing of the Transaction on July 31, 2012. BFC had deposits at BankAtlantic totaling $1.6 million and $0.2 million as of June 30, 2012 and December 31, 2011, respectively. The Company recognized nominal interest expense in connection with the above deposits. These deposits were on the same general terms as offered to unaffiliated third parties. 

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BBX Capital Corporation

9.   Segment Reporting

The information provided for Segment Reporting is based on internal reports utilized by management. Results of continuing operations are reported through two reportable segments: Commercial Lending reporting unit (“CLRU”) and the Parent Company. CLRU’s activities consist of managing a commercial loan portfolio which includes construction, residential development, land acquisition and commercial business loans. The activities during the three and six months ended June 30, 2012 and 2011 included renewing, modifying, increasing, extending, refinancing and making protective advances on commercial loans, as well as the servicing of commercial loans. The Parent Company activities include the managing of non-performing loans and related real estate owned acquired from BankAtlantic.

The accounting policies of the segments are generally the same as those described in the summary of significant accounting policies in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011. Intersegment transactions are eliminated in consolidation.

The Company evaluates segment performance based on segment net income from continuing operations.

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BBX Capital Corporation

The Company evaluates segment performance based on segment net income from continuing operations after tax.  The table below is segment information for segment net income from continuing operations for the three and six months ended June 30, 2012 and 2011 (in thousands): 

			Adjusting and
		Parent	Elimination	Segment
For the Three Months Ended:	CLRU	Company	Entries	Total

June 30, 2012:

Interest income	$	7,242	45	-	7,287
Interest expense		-	(4,126)	-	(4,126)
Recovery of loan losses		625	2	-	627
Non-interest income		-	406	(275)	131
Non-interest expense		(9,555)	(2,999)	275	(12,279)

Segments loss

before income taxes		(1,688)	(6,672)	-	(8,360)
Provision for income tax		-	-	-	-
Net loss	$	(1,688)	(6,672)	-	(8,360)
Total assets	$	653,838	307,520	2,870,572	3,831,930
				Adjusting and
			Parent	Elimination	Segment
For the Three Months Ended:		CLRU	Company	Entries	Total

June 30, 2011:

Interest income	$	11,109	60	(2)	11,167
Interest expense		-	(3,856)	2	(3,854)
Provision for loan losses		(3,799)	(514)	-	(4,313)
Non-interest income		12	(751)	(313)	(1,052)
Non-interest expense		(17,460)	(2,507)	313	(19,654)

Segments loss

before income taxes		(10,138)	(7,568)	-	(17,706)
Provision for income tax		-	-	-	-
Net loss	$	(10,138)	(7,568)	-	(17,706)
Total assets	$	745,175	356,709	2,761,980	3,863,864

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BBX Capital Corporation

			Adjusting and
		Parent	Elimination	Segment
For the Six Months Ended:	CLRU	Company	Entries	Total

June 30, 2012:

Interest income	$	15,401	221	-	15,622
Interest expense		-	(8,293)	-	(8,293)
Recovery of loan losses		1,386	6	-	1,392
Non-interest income		70	865	(597)	338
Non-interest expense		(22,487)	(8,700)	597	(30,590)

Segments loss

before income taxes		(5,630)	(15,901)	-	(21,531)
Provision for income tax		-	-	-	-
Net loss	$	(5,630)	(15,901)	-	(21,531)
				Adjusting and
			Parent	Elimination	Segment
For the Six Months Ended:		CLRU	Company	Entries	Total

June 30, 2011:

Interest income	$	22,862	143	-	23,005
Interest expense		-	(7,638)	-	(7,638)
Provision for loan losses		(10,646)	(494)	-	(11,140)
Non-interest income		13	(161)	(609)	(757)
Non-interest expense		(30,046)	(5,939)	609	(35,376)

Segments loss

before income taxes		(17,817)	(14,089)	-	(31,906)
Provision for income tax		-	-	-	-
Net loss	$	(17,817)	(14,089)	-	(31,906)

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10.  Commitments and Contingencies 

The Company and its subsidiaries are parties to lawsuits as plaintiff or defendant involving its bank operations, lending and tax certificates. Although the Company believes it has meritorious defenses in all current legal actions, the outcome of litigation and regulatory matters and timing of ultimate resolution are inherently difficult to predict and uncertain.

Reserves are accrued for matters in which it is probable that a loss will be incurred and the amount of such loss can be reasonably estimated. These accrual amounts as of June 30, 2012 are not material to the Company’s financial statements. The actual costs of resolving these legal claims may be substantially higher or lower than the amounts accrued for these claims. 

A range of reasonably possible losses is estimated for matters in which it is reasonably possible that a loss has been incurred or that a loss is probable but not reasonably estimable. Management currently estimates that the aggregate range of reasonably possible losses in excess of the accrued liability are insignificant as of June 30, 2012.   This estimated range of reasonably possible losses represents the estimated possible losses over the life of such legal matters, which may be an indeterminable time period, and is based on information currently available as of June 30, 2012. The matters underlying the estimated range will change from time to time, and actual results may vary significantly from this estimate. Those matters for which a reasonable estimate is not possible are not included within this estimated range and, therefore, this estimated range does not represent the Company’s maximum loss exposure. During the six months ended June 30, 2012, a matter associated with tax certificates activities was settled for $1.6 million reducing the range of possible losses reported as of December 31, 2011.

In certain matters we are unable to estimate the loss or reasonable range of loss until additional developments in the case provide information sufficient to support an assessment of the loss or range of loss. Frequently in these matters, the claims are broad and the plaintiffs have not quantified or factually supported the claim.    

We believe that liabilities arising from litigation and regulatory matters, discussed below, in excess of the amounts currently accrued, if any, will not have a material impact to the Company’s financial statements. However, due to the significant uncertainties involved in these legal matters, we may incur losses in excess of accrued amounts and an adverse outcome in these matters could be material to the Company’s financial statements.

Litigation and regulatory matters assumed by BB&T in connection with the sale of BankAtlantic are no longer reported by the Company. The following is a description of the ongoing litigation and regulatory matters:

Class action securities litigation

In October 2007, the Company and current or former officers of the Company were named in a lawsuit which alleged that during the period of November 9, 2005 through October 25, 2007, the Company and the named officers knowingly and/or recklessly made misrepresentations of material fact regarding BankAtlantic and specifically BankAtlantic’s loan portfolio and allowance for loan losses. The Complaint asserted claims for violations of the Securities Exchange Act of 1934 and Rule 10b-5 and sought unspecified damages. On November 18, 2010, a jury returned a verdict awarding $2.41 per share to shareholders who purchased shares of the Company’s Class A Common Stock during the period of April 26, 2007 to October 26, 2007 who retained those shares until the end of the period.  The jury rejected the plaintiffs’ claim for the six month period from October 19, 2006 to April 25, 2007.  Prior to the beginning of the trial, the plaintiffs abandoned any claim for any prior period.  On April 25, 2011, the Court granted defendants’ post-trial motion for judgment as a matter of law and vacated the jury verdict, resulting in a judgment in favor of all defendants on all claims.  On July 23, 2012, a three judge panel of the United States Court of Appeals for the Eleventh Circuit issued a unanimous opinion affirming the judgment in favor of all defendants on all claims.

Securities and Exchange Commission Complaint

On January 18, 2012, the SEC brought an action in the United States District Court for the Southern District of Florida against BBX and Alan B. Levan, BBX’s Chairman and Chief Executive Officer, alleging that they violated securities laws by not timely disclosing known adverse trends in BBX’s commercial real estate loans, selectively disclosing

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problem loans and engaging in improper accounting treatment of certain specific loans which may have resulted in a material understatement of its net loss in BBX’s Annual Report on Form 10-K for the year ended December 31, 2007.  Further, the complaint alleges that Mr. Alan B. Levan intentionally misled investors in related earnings calls. The SEC is seeking a finding by the court of violations of securities laws, a permanent injunction barring future violations, civil money penalties and, in the case of Mr. Alan B. Levan, an order barring him from serving as an officer or director of a public company.  BBX believes the claims to be without merit and intends to vigorously defend the actions.

BBX Shareholders Lawsuit Seeking to Block the sale of BankAtlantic to BB&T under the Agreement

On April 5, 2012, J.Phillip Max filed a class action complaint in the Circuit Court for the Seventeenth Judicial Circuit in Broward County, Florida against Alan Levan, Jarett Levan, John Abdo, Steven Coldren, D. Keith Cobb, Charles C. Winningham III, Bruno Di Giulian, Willis Holcombe, David Lieberman, BankAtlantic Bancorp, Inc., BFC Financial Corporation, and BB&T Corporation.  The complaint alleges that the individual defendants breached their fiduciary duties of care, good faith and loyalty by causing or permitting BBX to sell substantially all of its assets to BB&T.  The complaint further alleges that BBX, BFC and BB&T aided and abetted these breaches of fiduciary duty. The complaint seeks declaratory and equitable relief, including an injunction against the proposed transaction between BBX and BB&T, as well as seeking damages.  BBX believes the claims to be without merit and intends to vigorously defend the lawsuit.

11.  New Accounting Pronouncements   

Update Number 2011-12 – Comprehensive Income (Topic 220):  Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05.  In this update, the FASB deferred only changes in ASU 2011-5 that relate to the presentation of reclassification adjustments.  The deferral allows the FASB to re-deliberate whether to present on the face of the financial statements the effects of reclassifications out of accumulated other comprehensive income of the components of net income and other comprehensive income for all periods presented.  All other requirements of ASU 2011-5 are not affected by this deferral.    

Update Number 2011-11 – Balance Sheet (Topic 210):  Disclosures about Offsetting Assets and Liabilities.  The amendment requires entities to disclose both gross information and net information about both instruments and transactions eligible for offset in the statement of financial condition and instruments and transactions subject to an agreement similar to a master netting arrangement.  This amendment includes derivatives, sale and repurchase agreements and reverse sale and repurchase agreements, and securities borrowing and securities lending arrangements. This accounting standard update is effective for annual and interim periods beginning on or after January 1, 2013.  The Company believes that this update will not have a material impact on its financial statements.

Update Number 2011-10 – Property, Plant, and Equipment (Topic 360): Derecognition of In-substance Real Estate—a Scope Clarification. Generally, when a reporting entity ceases to have a controlling financial interest in a subsidiary that is in-substance real estate as a result of default on the subsidiary’s nonrecourse debt, the reporting entity should apply the guidance of Topic 360 to determine whether it should derecognize the in-substance real estate.  The reporting entity would continue to include the real estate and debt on its financial statements until legal title to the real estate is transferred to legally satisfy the debt.  This accounting standard update is effective for annual and interim periods beginning on or after June 15, 2012.  The Company believes that this update will not have a material impact on its financial statements.

Update Number 2011-08 – Intangibles – Goodwill and Other (Topic 350):  Testing Goodwill for Impairment.  This accounting standard update allows entities an option to first assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. Under this option, an entity is no longer required to calculate the fair value of a reporting unit unless the entity determines, based on that qualitative assessment, that it is more likely than not that the reporting unit’s fair value is less than its carrying amount. This accounting standard update is effective for annual and interim goodwill impairment tests performed beginning January 1, 2012. This update did not have a material impact on the Company’s financial statements.

Update Number 2011-05 – Comprehensive Income (Topic 220): Presentation of Comprehensive Income. This update makes available the option to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements.  In both choices, an entity is required to present each component of net income along

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with total net income, each component of other comprehensive income along with a total for other comprehensive income, and a total amount for comprehensive income. Regardless of whether an entity chooses to present comprehensive income in a single continuous statement or in two separate but consecutive statements, the entity is required to present on the face of the financial statements reclassification adjustments for items that are reclassified from other comprehensive income to net income in the statements where the components of net income and the components of other comprehensive income are presented.  The update did not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income.  However, the update eliminated the presentation of other comprehensive income as part of the statement of changes in stockholders’ equity. This update is effective for the first interim period beginning after December 15, 2011, and must be applied retrospectively. The Company implemented this update as of January 1, 2012 except for the presentation of reclassification adjustments on the face of the financial statements which was deferred in Update Number 2011-12.  Pursuant to the implementation of this update, The Company changed its presentation of comprehensive income from the presentation of comprehensive income as part of its Statement of Changes in Stockholders’ Equity to presenting comprehensive income in a separate statement.  The implementation of this update did not have a material effect on the Company’s financial statements.

Update Number 2011-4 – Fair Value Measurement (Topic 820).  Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRS.  This guidance clarifies the FASB’s intent regarding the highest and best use valuation premise and also provides guidance on measuring the fair value of an instrument classified in shareholders’ equity, the treatment of premiums and discounts in fair value measurements and measuring fair value of financial instruments that are managed within a portfolio. This standard also expands the disclosure requirements related to fair value measurements, including a requirement to disclose valuation processes and sensitivity of the fair value measurements to changes in unobservable inputs for fair value measurements categorized within Level 3 of the fair value hierarchy and categorization by level of the fair value hierarchy for items that are not measured at fair value in the statement of financial position but for which the fair value measurement is required to be disclosed.  The effective date of this update is for the first interim period beginning after December 15, 2011, and early application is not permitted. The Company implemented this disclosure update as of January 1, 2012 and the implementation of this update did not have a material effect on the Company’s financial statements.

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Item 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The objective of the following discussion is to provide an understanding of the financial condition and results of operations of BBX Capital Corporation (formerly BankAtlantic Bancorp, Inc.) (the “Parent Company” or “BBX”) and subsidiaries (BBX, together with its subsidiaries, the “Company”, which may also be referred to as “we,” “us,” or “our”) for the three and six months ended June 30, 2012.  On November 1, 2011, BBX entered into a definitive agreement to sell BankAtlantic to BB&T Corporation (“BB&T”), which agreement was amended on March 13, 2012 (“Agreement”).  Due to the Agreement and completion on July 31, 2012 of the sale of BankAtlantic to BB&T under the Agreement (the sale and related transactions, the “Transaction”), the financial statements reflect BankAtlantic’s Community Banking, Investments, Tax Certificates and Capital Services reporting units as discontinued operations for the three and six months ended June 30, 2012 and 2011, respectively.  The Company expects to continue commercial lending activities subsequent to the Transaction resulting in the inclusion of BankAtlantic’s Commercial Lending reporting unit (“CLRU”) in continuing operations for the three and six months ended June 30, 2012 and 2011.   See Note 1 – “Basis of Financial Statement Presentation” to the Notes to the Company’s Consolidated Financial Statements for a further discussion of the presentation of the Company’s results of operations and Note 2 – “Assets and Liabilities Held for Sale” to the Notes to the Company’s Consolidated Financial Statements for a further discussion of the presentation of assets and liabilities in the Company’s Statement of Condition.  

This document contains forward-looking statements based on current expectations that involve a number of risks and uncertainties. All opinions, forecasts, projections, future plans or other statements, other than statements of historical fact, are forward-looking statements and include words or phrases such as “plans,” “believes,” “will,” “expects,” “anticipates,” “intends,” “estimates,” “our view,” “we see,” “would” and words and phrases of similar import. The forward looking statements in this document are also forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and involve substantial risks and uncertainties. We can give no assurance that such expectations will prove to have been correct. Future results could differ materially as a result of a variety of risks and uncertainties, many of which are outside of the control of management. These risks and uncertainties include, but are not limited to the impact of economic, competitive and other factors affecting the Company and its markets, products and services, including the impact of the changing regulatory environment, a continued or deepening recession, decreases in real estate values, and increased unemployment or sustained high unemployment rates on our business generally, the ability of our borrowers to service their obligations and the value of collateral securing our loans; credit risks and loan losses, and the related sufficiency of the allowance for loan losses, including the impact of the economy and real estate market values on our assets and the credit quality of our loans; the risk that loan losses will continue and the risks of additional charge-offs, impairments and required increases in our allowance for loan losses; the impact of and expenses associated with litigation including but not limited to litigation brought by the SEC; adverse conditions in the stock market, the public debt market and other financial and credit markets and the impact of such conditions on our activities and the risks associated with the impact of periodic valuation of our assets for impairment. Past performance and perceived trends may not be indicative of future results.  In addition, this document contains forward looking statements relating to the sale of BankAtlantic to BB&T, which involve a number of risks and uncertainties including, but not limited to, that BBX’s shareholders may not realize the anticipated benefits of the Transaction; that BBX’s future business plans may not be realized as anticipated, if at all; that the Company’s Class A Common Stock may not meet the requirements for continued listing on the NYSE; and that the assets retained by BBX directly or through subsidiaries  may not be monetized at the values currently ascribed to them.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, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2011 and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2012. The Company cautions that the foregoing factors are not exclusive. 

Critical Accounting Policies

Management views critical accounting policies as accounting policies that are important to the understanding of our financial statements and also involve estimates and judgments about inherently uncertain matters. In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the Consolidated Statements of Financial Condition and assumptions that affect the recognition of income and expenses on the Consolidated Statements of Operations for the periods presented. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change in subsequent periods relate to the determination of the allowance for loan losses, evaluation of assets for impairment, including the valuation of real estate acquired in connection with foreclosure or

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BBX Capital Corporation

in satisfaction of loans and the measuring of loans for impairment, the amount of the deferred tax asset valuation allowance, accounting for uncertain tax positions, and accounting for contingencies.  The two accounting policies that we have identified as critical accounting policies are allowance for loan losses and impairment of long-lived assets.  For a more detailed discussion of these critical accounting policies see “Critical Accounting Policies” appearing in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011.

Consolidated Results of Operations

CLRU consists of the results of operations of BankAtlantic’s Commercial Lending reporting unit which includes the interest income and impairments associated with $378.2 million of commercial loans included in assets held for sale as of June 30, 2012 that were transferred to BB&T upon the consummation of the Transaction on July 31, 2012. The CLRU results of operations also includes BankAtlantic’s general corporate overhead.   

Loss from continuing operations from each of the Company’s reportable segments was as follows (in thousands):

For the Three Months Ended June 30,
2012	2011	Change

CLRU $ (1,688) (10,138) 8,450 

Parent Company		(6,672)	(7,568)	896
Loss from continuing operations	$	(8,360)	(17,706)	9,346

For the Three Months Ended June 30, 2012 Compared to the Same 2011 Period:

The improvement in CLRU’s net loss during the 2012 quarter compared to the 2011 quarter was primarily the result of lower operating expenses and a decrease in the provision for loan losses partially offset by a decline in net interest income.

The decrease in operating expenses reflects a reduction in real estate owned impairments as well as lower compensation and occupancy expenses.  During the three months ended June 30, 2011, a $5.2 million valuation allowance was established on one real estate owned property due to an updated valuation compared to $1.2 million of valuation allowances established during the 2012 quarter.  The decline in employee compensation resulted primarily from workforce reductions and the corresponding reduction in payroll taxes and employee benefits.  The lower occupancy expense reflects the consolidation of back-office facilities during prior periods. The decrease in the provision for loan losses primarily reflects a  significant reduction in charge-offs and the slowing in the amount of commercial loans migrating to a delinquency or non-accrual status compared to prior periods.  This reduction resulted in improved historical loss experience ratios during 2012 compared to 2011 with corresponding declines in the allowance for loan losses.  The lower net interest income resulted primarily from a significant reduction in commercial loan average balances and secondarily from lower average loan yields.

The decrease in the Parent Company’s loss for the 2012 quarter compared to the same 2011 quarter resulted primarily from a $1.5 million impairment on an equity security during the 2011 quarter with no security impairments during the same 2012 period.  Also contributing to the reduced 2012 Parent Company loss was a $0.5 million decline in the provision for loan losses and $0.4 million of lower expenses partially offset by an increase in interest expense on junior subordinated debentures.  The decrease in the provision for loan losses primarily reflects lower charge-offs during the 2012 quarter compared to the 2011 quarter.  The decrease in non-interest expense was mainly the result of lower impairments on real estate owned.  The increase in interest expense resulted from higher average balances on junior subordinated debentures during the 2012 quarter compared to the 2011 quarter reflecting the deferral of interest on junior subordinated debentures during prior periods.

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BBX Capital Corporation

For the Six Months Ended June 30, 2012 Compared to the Same 2011 Period:

For the Six Months Ended June 30,
2012	2011	Change

CLRU $ (5,630) (17,817) 12,187 

Parent Company		(15,901)	(14,089)	(1,812)
Loss from continuing operations	$	(21,531)	(31,906)	10,375

The improvement in CLRU’s net loss during the six months ended June 30, 2012 compared to the same 2011 period resulted primarily from the items discussed above for the three months ended June 30, 2012 compared to the same 2011 period. 

The increase in the Parent Company’s loss for the six months ended June 30, 2012 resulted primarily from higher professional fees due to TruPS related litigation in Delaware associated with the BB&T Transaction.  

Results of Discontinued Operations

The (loss) income from the Company’s discontinued operations was as follows (in thousands):

For the Three Months			For the Six Months
Ended June 30,			Ended June 30,
2012	2011	Change	2012	2011	Change

Net interest income $ 14,676  21,871  (7,195) 32,149  44,826  (12,677)

Provision for loan losses		(7,301)	(6,396)	(905)	(16,518)	(27,381)	10,863
Non-interest income		14,733	59,646	(44,913)	32,257	82,139	(49,882)
Non-interest expense		(26,055)	(34,014)	7,959	(52,871)	(67,163)	14,292
Provision for income taxes		-	-	-	(1)	(1)	-
(Loss) income  from
discontinued operations	$	(3,947)	41,107	(45,054)	(4,984)	32,420	(37,404)

For the Three Months Ended June 30, 2012 Compared to the Same 2011 Period:

The significant decline in earnings from discontinued operations during the three months ended June 30, 2012 compared to the same 2011 period primarily resulted from the sale during the 2011 period of 19 Tampa branches and related facilities to an unrelated financial institution for a net gain of $38.7 million.  The remaining earnings decline during the 2012 quarter compared to the 2011 quarter reflects lower net interest income and deposit service fee income.  The decline in net interest income resulted primarily from a significant reduction in earning assets and an increasing proportion of investments in low yielding cash balance, at the Federal Reserve Bank.The decline in deposit fee income primarily reflects fewer deposit accounts as a result of the sale of the Tampa branches and lower overdraft fees.We believe that the decline in overdraft fees reflects higher customer balances, regulatory initiatives and changes in our overdraft policies, as well as changes in customer behavior.  The above reductions in net interest income and non-interest incomeduring the three months ended June 30, 2012 compared to the same 2011 period were partially offset by lower operating expenses.  The decrease in operating expenses reflects lower compensation and occupancy expenses associated with the consolidation of back-office facilities, workforce reductions, normal attrition and elimination of expenses associated with BankAtlantic’s Tampa operations as a result of the completion of the Tampa branch sale on June 3, 2011.

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BBX Capital Corporation

For the Six Months Ended June, 2012 Compared to the Same 2011 Period:

The significant decline in earnings from discontinued operations during the six months ended June 30, 2012 compared to the same 2011 period primarily was the result of the items discussed above for the three months ended June 30, 2012 compared to the same 2011 period.  The improvement in the provision for loan losses resulted primarily from a significant decline in charge-offs and reductions in the allowance for loan losses associated with improved charge-off trends during the 2012 six month period compared to the same 2011 period.

CLRU Results of Operations

The following table is a condensed income statement summarizing the results of operations of the Commercial Lending Reporting Unit (“CLRU”) (in thousands):

For the Three Months			For the Six Months
Ended June 30,			Ended June 30,
2012	2011	Change	2012	2011	Change

Interest income  $ 7,242  11,109  (3,867) 15,401  22,862  (7,461)

Provision for loan losses 625  (3,799) 4,424  1,386  (10,646) 12,032 

Net interest income after

provision for loan losses	7,867	7,310	557	16,787	12,216	4,571
Non-interest income	-	12	(12)	70	13	57
Non-interest expense	(9,555)	(17,460)	7,905	(22,487)	(30,046)	7,559

CLRU loss before income taxes (1,688) (10,138) 8,450  (5,630) (17,817) 12,187 

Provision for income taxes		-	-	-	-	-	-
CLRU net loss	$	(1,688)	(10,138)	8,450	(5,630)	(17,817)	12,187

Interest Income

The average balance and average yield of CLRU’s commercial loans during the three months ended June 30, 2012 were $672.7 million and 4.31%, respectively, compared to $945.3million and 4.70%, respectively, during the same 2011 period.  The average balance and average yield of CLRU’s commercial loans during the six months ended June 30, 2012 were $728.2 million and 4.23%, respectively, compared to $976.8million and 4.68%, respectively, during the same 2011 period.  The reduction in average balances reflects loan repayments, migration of loans to real estate owned and loan sales as well as a substantial decline in loan originations.  The lower yields reflect the repayment of loans with higher yields than the existing loan portfolio.

Asset Quality

The loans and real estate owned and related data presented below as of June  30, 2012 and for the three and six months ended June  30, 2012 excludes loans and real estate owned transferred to BB&T under the terms of the Agreement as these loans are included in assets held for sale.

The table below presents the allocation of the allowance for loan losses (“ALL”) by various loan classifications, the percent of allowance to each loan category (“ALL to gross loans percent”) and the percentage of loans in each category to total loans (“Loans to gross loans percent”).  The allowance shown in the table should not be interpreted as an indication that charge-offs in future periods will occur in these amounts or percentages or that the allowance accurately reflects future charge-off amounts or trends (dollars in thousands):

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June 30, 2012 December 31, 2011

ALL Loans ALL Loans

	to gross	by		to gross	by
ALL	loans	category	ALL	loans	category
by	in each	to gross	by	in each	to gross
category	category	loans	category	category	loans

Commercial non-real estate $ 800  3.29  % 6.01  % $ 16,408  13.89  % 4.6  %

Commercial real estate		4,383	1.67		64.93			66,269	9.84		26.23
Small business		1,326	4.16		7.89			7,168	2.52		11.09
Residential real estate		237	0.36		16.19			16,704	1.79		36.34
Consumer		407	2.02		4.98			22,554	4.04		21.74
Total allowance for loan losses	$	7,153	1.77	%	100.00	%	$	129,103	5.03	%	100	%

Included in the allowance for loan losses as of June 30, 2012 and December 31, 2011 were specific valuation allowances by loan type as follows (in thousands):

June 30,	December 31,
2012	2011

Commercial non-real estate $ 237  15,408 

Commercial real estate		1,265	51,798
Small business		790	861
Consumer		-	1,454
Residential		-	6,942
Total	$	2,292	76,463

The decrease in the allowance for loan losses at June  30, 2012 compared to December 31, 2011 resulted primarily from the charge-off of specific valuation allowances on collateral dependent loans as well as from the transfer of loans to assets held for sale.  In connection with the BB&T Transaction, BankAtlantic transferred $1.8 billion of loans and $46.1 million of allowance for loan losses to assets held for sale.  The reduction in allowance for loan losses to gross loans in each category reflects the charge-off of $65.7 million of the specific valuation allowances discussed in the following paragraph and the fact that a higher percent of the loans which were not transferred to assets held for sale (because they were not transferred to BB&T in the Transaction) are non-performing and/or collateral dependent.  An allowance for loan losses was not established for those collateral dependent loans as these loans were instead charged-down to the fair value of the collateral less cost to sell.  The specific valuation allowance as of June 30, 2012 reflects impaired loans measured based on present value of expected cash flows discounted at the loan’s effective interest rate or appraisal adjustments on collateral dependent impaired loans.

As part of the transition of the regulation of OTS savings associations to the OCC, the OCC  provided  guidance to thrifts related to their transition to OCC regulatory reporting, which was to be implemented no later than March 31, 2012, including  guidance surrounding specific valuation allowances on collateral dependent loans.  Under OCC guidance, where the appraised value of collateral on a collateral dependent loan is less than the recorded investment of the loan, a charge-off of the amount of the deficiency rather than a specific valuation allowance is now generally required.   Management considered the appraisals on its impaired collateral dependent loans, including appraised values and appraisal dates and, during the first quarter of 2012, the Company charged down the recorded investment of loans by $66.5 million to the fair value of the collateral less cost to sell.  This charge down consisted entirely of the charging-off of existing specific valuation allowances.  As  a specific valuation allowance was previously established for these loans, the charge-offs did not impact the provision for loan losses or the net loss during the three months ended March 31, 2012, but  did reduce the Company’s allowance for loan losses and recorded investment in the loans.  Further, these charge-offs of specific valuation allowances

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did not  impact the estimation of the allowance for loan losses as the change in the specific valuation allowances was always a factor in the overall estimation of BankAtlantic’s allowance for loan losses. 

The activity in CLRU’s allowance for loan losses was as follows (in thousands):

		For the Three Months		For the Six Months
		Ended June 30,		Ended June 30,
Allowance for Loan Losses:		2012	2011	2012	2011
Balance, beginning of period	$	5,571	89,036	82,676	93,816
Charge-offs :
Commercial real estate		(1,778)	(13,546)	(52,501)	(26,214)
Commercial non-real estate		-	(124)	(14,614)	(588)

Total Charge-offs (1,778) (13,670) (67,115) (26,802)

Recoveries of loans
previously charged-off	2,017	132	2,071	1,637

Net (charge-offs) 239  (13,538) (65,044) (25,165)

(Recovery from) provision
for loan losses		(625)	3,799	(1,386)	10,646
Transfer to assets
held for sale		-	-	(11,061)	-
Balance, end of period	$	5,185	79,297	5,185	79,297

Commercial real estate charge-offs during the three months ended June 30, 2012 primarily represent declines in collateral values on collateral dependent non-accrual loans based on updated property valuations.  Management believes that the significant decline in commercial real estate charge-offs during the 2012 quarter compared to the 2011 quarter reflects the stabilization of commercial property values resulting in lower loss severity impairments from updated valuations.  

The commercial loan recoveries during the three and six months ended June 30, 2012 primarily resulted from loan short sales at amounts higher than the loan’s carrying value and cash settlements with borrowers in connection with obtaining deeds in lieu of foreclosure. 

Commercial real estate loan charge-offs during the six months ended June 30, 2012 included $46.7 million of charge-offs related to  previously established  specific valuation allowances as discussed above.  Excluding these specific valuation allowance charge-offs, commercial real estate charge-offs declined from $26.2 million during the six months ended June 30, 2011 to $5.9 million for the same 2012 period.   Commercial real estate loan charge-offs during the 2012 six month period included $4.0 million related to one $16.3 million commercial residential loan transferred to loans held for sale.  During the six months ended June 30, 2011, commercial real estate loan charge-offs included  $12.6 million of charge-offs related to commercial other loans, $5.1 million of charge-offs related to commercial residential loans and $0.2 million of charge-offs related to owner occupied loans. 

Commercial non-real estate charge-offs during the six months ended June 30, 2012 included $12.5 million of charge-offs related to previously established specific valuation allowances. The remaining $2.1 million of charge-offs during the 2012 period related to one asset backed lending relationship.  The commercial non-real estate loan charge-offs during the six months ended June 30, 2011 primarily related to one $0.5 million business loan in the real estate brokerage industry.

The improvement in the provision for loan losses for the three and six months ended June 30, 2012 compared to the same 2011 period reflects declining commercial real estate loan balances, improved historical loss experience during 2012 compared to 2011, and a decline in loans migrating to non-accrual status. 

Pursuant to the Agreement with BB&T, commercial loans with a recorded investment of $378.2 million as of March 31, 2012 were transferred to assets held for sale as these loans were anticipated to be transferred to BB&T in the

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BBX Capital Corporation

Transaction.  The allowance for loan losses associated with these commercial loans as of March 31, 2012, which were included in the above table for the six months ended June 30, 2012, was $11.1 million.

At the indicated dates, CLRU’s non-performing assets, loans contractually past due 90 days or more and still accruing, performing impaired loans and troubled debt restructured loans as of June  30, 2012 (amounts at June 30, 2012 exclude loans included in assets held for sale), and as of December 31, 2011 were as follows (in thousands):

		As of
		June 30, 2012	December 31, 2011
NON-PERFORMING ASSETS
Tax certificates	$	5,338	3,094
Residential (1)		57,090	85,855
Commercial real estate (2)		167,278	206,038
Commercial non-real estate		5,607	19,172
Small business		6,267	12,016
Consumer		8,261	14,134

Total non-accrual assets (3) 249,841  340,309 

REPOSSESSED ASSETS:
Tax certificates	707	800
Residential real estate	5,663	9,592
Commercial real estate	67,447	63,091
Small business real estate	3,515	3,883
Consumer real estate	477	671

Total repossessed assets 77,809  78,037 

Total non-performing assets	$	327,650	418,346
OTHER ACCRUING IMPAIRED
LOANS
Contractually past due 90 days
or more (4)	$	-	80
Troubled debt restructured loans		75,428	116,954
TOTAL OTHER ACCRUING
IMPAIRED LOANS	$	75,428	117,034

  (1)  Includes $22.1 million and $33.2 million of interest-only residential loans as of June 30, 2012 and December 31, 2011, respectively.

 (2)  Excluded from the above table as of June 30, 2012 and December 31, 2011 were $3.7 million and $8.1 million, respectively, of commercial residential loans that were transferred to a work-out subsidiary of the Parent Company in March 2008.

(3)Includes $75.4 million and $124.8 million of troubled debt restructured loans as of June 30, 2012 and December 31, 2011, respectively.

(4)BankAtlantic believes that it will ultimately collect the principal and interest associated with these loans; however, the timing of the payments may not be in accordance with the contractual terms of the loan agreement.

The decline in non-performing assets at June 30, 2012 compared to December 31, 2011 reflects the charge-off of $66.5 million of collateral dependent loans, payoffs and loan short sales.

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BBX Capital Corporation

The decline in commercial real estate non-accrual loans resulted primarily from $46.7 million of loan charge-offs associated with previously established specific valuation allowances and the payoff of $27.4 million of commercial residential loans partially offset by $41.7 million of commercial loans transferring to nonaccrual. 

The decline in commercial non-real estate non-accrual loans reflects $12.5 million of charge-offs associated with previously established specific valuation allowances and the charge-off of a $2.1 million asset based loan.

The decline in residential non-accrual loans resulted primarily from loan repayments through borrower short sales and $6.9 million of charge-offs associated with previously established specific valuation allowance and charge-offs.

The decline in consumer non-accrual loans reflects $1.1 million of charge-offs associated with previously established specific valuation allowances and charge-offs.

The decline in small business non-accrual loans reflects loan payoffs and the transfer of loans to real estate owned.

The lower repossessed assets balances resulted primarily from the sale of residential real estate owned. During the six months ended June 30, 2012, $21.6 million of loans migrated to real estate owned, $4.1 million of impairments were recognized and $18.7 million of real estate owned properties were sold.  During the six months ended June 30, 2011, $25.0 million of loans migrated to real estate owned and $10.1 million of real estate owned properties were sold.  As non-accrual loans migrate into repossessed assets in the future, we expect repossessed assets as well as sales of real estate owned to increase.  

In response to current market conditions, management generally decides, on a case-by-case basis, whether to modify loans for borrowers experiencing financial difficulties and has modified the terms of certain commercial, small business, residential and consumer home equity loans.  The concessions made to borrowers experiencing financial difficulties have generally included, among others, the reduction of contractual interest rates and, in some cases, forgiveness of a portion of loan principal upon satisfactory performance under the modified terms, conversion of amortizing loans to interest only payments or the deferral of some interest payments until the maturity date of the loan.  Loans that are not delinquent at the date of modification are generally not placed on non-accrual.  Modified non-accrual loans are generally not returned to an accruing status and the days past due are not reset on delinquent modified loans until the borrower demonstrates a sustained period of performance under the modified terms, which is generally performance over a six month period. 

Troubled debt restructured loans by loan type were as follows (in thousands):

		As of June 30, 2012		As of December 31, 2011
		Non-accrual	Accruing	Non-accrual	Accruing
Commercial	$	107,861	56,988	108,946	96,146
Small business		2,859	6,001	4,024	6,878
Consumer		1,099	10,369	1,071	11,536
Residential		9,021	2,070	10,718	2,394
Total	$	120,840	75,428	124,759	116,954

BankAtlantic’s commercial loan portfolio includes large loan balance lending relationships. Seven relationships accounted for 45.4% of our $172.9 million of non-accrual commercial loans as of June 30, 2012.  The following table outlines general information about these seven relationships as of June 30, 2012 (in thousands):

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BBX Capital Corporation

	Unpaid
	Principal	Recorded	Date loan	Date Placed	Default	Loan	Date of Last
Relationships	Balance	Investment (3)	Originated	on Nonaccrual	Date (2)	Class	Full Appraisal

Commercial Land Developers

Relationship No. 1	$	10,338	6,907	Q1-2005	Q4- 2010	(1)	Land	Q4-2011
Relationship No. 2		30,516	9,392	Q4-2006	Q4-2008	Q4-2008	Land	Q4-2011
Relationship No. 3		17,642	10,686	Q1-1995	Q4-2009	Q4-2009	Land	Q1 -2012
Relationship No. 4		31,050	11,058	Q4-2007	Q4-2008	(1)	Land	Q4-2011
Total	$	89,546	38,043
Commercial Non-Residential
Developers
Relationship No. 5	$	24,790	12,109	Q2-2008	Q4-2011	(1)	Other	Q1 -2012
Relationship No. 6		25,379	16,159	Q3-2006	Q2-2010	(1)	Other	Q2-2012
Relationship No. 7		18,388	12,255	Q1-2007	Q3-2010	(1)	Other	Q2-2012

Total $ 68,557  40,523 

Total of Large Relationships $ 158,103  78,566 

(1)  The loan is currently not in default; however, management believes that it is not probable that the borrower will comply with the contractual or modified loan repayment terms.

(2)   The default date is defined as the date of the initial missed payment prior to default.

(3)   Recorded investment is the “Unpaid Principal Balance” less charge-offs.

The following table presents purchased residential loans by year of origination segregated by amortizing and interest only loans at June 30, 2012 (excluding purchased residential loans to be transferred to BB&T under the terms of the Agreement as these loans are included in assets held for sale) (dollars in thousands):

Amortizing Purchased Residential Loans

Year of Unpaid Recorded LTV at Current FICO Scores Current Amount Debt Ratios

Origination Principal Investment Origination LTV(1) at Origination FICO Scores(2) Delinquent at Origination(3)

2007  $ 5,302  3,038  78.74%  169.56%  713  667  4,860  41.55% 

2006	5,514	3,800	74.34%	131.16%	685	581	4,633	37.93%
2005	7,752	4,589	77.74%	135.26%	704	596	7,752	38.06%
2004	20,668	15,853	74.87%	103.79%	714	584	17,837	36.65%
Prior to 2004	4,644	4,348	72.98%	71.53%	709	579	4,012	36.64%

Interest Only Purchased Residential Loans

Year of Unpaid Recorded LTV at Current FICO Scores Current Amount Debt Ratios

Origination Principal Investment Origination LTV(1) at Origination FICO Scores(2) Delinquent at Origination(3)

2007  $ 10,504  5,957  77.66%  138.74%  741  681  9,925  37.19% 

2006	17,062	9,503	77.54%	127.49%	732	639	16,574	33.83%
2005	6,371	3,828	73.44%	132.23%	719	689	5,748	37.49%
2004	3,974	2,730	73.78%	137.68%	728	626	3,974	27.55%
Prior to 2004	1,836	1,444	63.44%	70.72%	711	619	1,836	28.22%

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BBX Capital Corporation

The following table presents purchased residential loans by geographic area segregated by amortizing and interest-only loans at June 30, 2012 (dollars in thousands):

Amortizing Purchased Residential Loans

Unpaid Recorded LTV at Current FICO Scores Current Amount Debt Ratios

State Principal Investment Origination LTV(1) at Origination FICO Scores(2) Delinquent at Origination(3)

Arizona $ 321  301  79.63%  50.68%  741  494  321  45.11% 

California	9,361	6,621	75.89%	110.42%	706	630	7,392	37.84%
Florida	10,356	6,545	77.33%	149.70%	702	569	10,080	35.01%
Nevada	773	403	92.24%	226.41%	697	524	773	35.29%
Other States	23,264	17,960	74.25%	98.90%	706	588	20,528	38.69%

Interest Only Purchased Residential Loans

Unpaid Recorded LTV at Current FICO Scores Current Amount Debt Ratios

State Principal Investment Origination LTV(1) at Origination FICO Scores(2) Delinquent at Origination(3)

Arizona $ 1,483  658  78.13%  208.62%  763  732  1,483  39.80% 

California	9,237	5,850	72.76%	118.79%	733	693	8,170	31.54%
Florida	7,914	4,385	71.55%	133.63%	738	672	7,914	35.89%
Nevada	1,162	436	78.61%	206.07%	729	543	1,162	34.70%
Other States	19,951	12,132	78.73%	117.80%	721	638	19,327	34.90%

(1)  Current loan-to-values (“LTV”) for the majority of the portfolio were obtained as of the second quarter of 2011 from automated valuation models. 

(2)  Current FICO scores based on borrowers for which FICO scores were available as of the second quarter of 2011.

(3)  Debt ratio is defined as the portion of the borrower’s income that goes towards debt service.

CLRU Non-Interest Income

Non-interest income during the three and six months ended June 30, 2012 was $0 and $70,000, respectively.  The non-interest income during the six months ended June 30, 2012 consisted of the retention of a non-refundable deposit associated with a contract to sell a real estate owned property and a $3,000 gain on the sale of a loan. 

Non-interest income during the three and six months ended June 30, 2011 was $1,000 and $2,000, respectively. The income consisted of miscellaneous income from a joint venture that factors receivables. The joint venture ceased operations during the fourth quarter of 2011.  

CLRU Non-Interest Expense

	For the Three Months			For the Six Months
	Ended June 30,			Ended June 30,
(in thousands)	2012	2011	Change	2012	2011	Change

Employee compensation and benefits $ 3,793  5,791  (1,998) 8,535  10,787  (2,252)

Occupancy and equipment		1,689	2,692	(1,003)	3,856	5,735	(1,879)
Advertising and promotion		55	57	(2)	149	143	6
Professional fees		1,492	(107)	1,599	3,106	1,643	1,463
(Recoveries) on assets held for sale		(1,165)	-	(1,165)	(1,165)	-	(1,165)
Impairments on loans held for sale		196	404	(208)	459	606	(147)
Impairment of real estate owned		1,235	5,470	(4,235)	2,605	5,179	(2,574)
Other		2,260	3,153	(893)	4,942	5,953	(1,011)
Total non-interest expense	$	9,555	17,460	(7,905)	22,487	30,046	(7,559)

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BBX Capital Corporation

Accounting rules require that BankAtlantic’s general corporate overhead be included in its entirety in non-interest expense as presented for CLRU for the three and six months ended June  30, 2012 and 2011.  Management anticipates that the Company’s cost structure will significantly change as a result of the consummation of the BB&T Transaction with a substantial reduction in non-interest expenses.

The decline in employee compensation and benefits during the three and six months ended June 30, 2012 compared to the same 2011 periods resulted primarily from workforce reductions and attrition. The majority of employee compensation and benefits reflects general corporate overhead.   BankAtlantic has significantly reduced its back-office work force since January 1, 2010.  BankAtlantic also reduced its commercial lending workforce, consisting primarily of lending officers, through normal attrition as commercial loan originations and purchases during 2011 and the first half of 2012 were significantly reduced from historical levels.  This reduction in the number of employees resulted in lower health insurance, payroll taxes, and share-based compensation.

 Occupancy and equipment for the three and six months ended June  30, 2012 and 2011 primarily reflects costs associated with the operation of back office facilities including the corporate headquarters.  The lower occupancy and equipment expenses during the 2012 periods compared to the same 2011 periods reflects lower real estate taxes, utilities,  depreciation and repairs and maintenance expenses due primarily to consolidation of back-office facilities.

The increase in professional fees during the threemonths ended June  30, 2012 compared to the same 2011 period resulted primarily from  $3.3 million of insurance reimbursements during the three months ended June 30, 2011 relating to  expenses incurred during prior periods in connection with class action securities litigation compared to no reimbursements during the second quarter of 2012.  The above increase in professional fees was partially offset by lower consulting fees and legal fees.  The decline in consulting fees was primarily associated with lower loan review, internal audit and external audit costs in anticipation of the closing of the BB&T Transaction.  The decline in legal fees reflects decreased class action securities and tax certificate activities legal costs during the 2012 second quarter compared to the same 2011 quarter.  The increase in professional fees for the six months ended June 30, 2012 compared to the same 2011 period reflects the insurance reimbursements mentioned above as well as legal costs associated with a commercial loan foreclosure involving a land lease during the three months ended March 31, 2011 partially offset by higher general loan foreclosure expenses during the 2012 six month period compared to the same 2011 period.

The recoveries on assets held for sale represents a $1.2 million decline in the carrying value of loans transferred to BB&T in the Transaction during the three and six months ended June 30, 2012.

Impairment  of loans held for sale for the three and six months ended June 30, 2012 s  T represents lower of cost or market adjustments on commercial loans classified as held for sale.  The impairments resulted primarily from property values obtained from updated valuations of the underlying loan collateral.  

Impairment of real estate owned during the three and six months ended June  30, 2012 reflects lower of cost or fair value less cost of sale adjustments on commercial real estate owned.  During the three and six months ended June 30, 2012, valuation allowances were established on threeand nine properties, respectively, due to updated property valuations. During the three and six months ended June 30, 2011, a real estate owned impairment of $5.2 million was recognized related to one property.

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BBX Capital Corporation

Other non-interest expenses consisted of the following:

	For the Three Months			For the Six Months
	Ended June 30,			Ended June 30,
(in thousands)	2012	2011	Change	2012	2011	Change

Insurance $ 1,199  1,001  198  2,287  1,941  346 

Foreclosed asset activity		163	651	(488)	553	1,005	(452)
Executive services		486	632	(146)	1,067	1,196	(129)
Other		412	874	(462)	1,033	1,757	(724)
Total non-interest expense	$	2,260	3,158	(898)	4,940	5,899	(959)

The decline in foreclosed asset activity during the three and six months ended June 30, 2012 compared to the same 2011 periods resulted primarily from increases in rental income from foreclosures of income producing properties. 

The reduced other expenses during the three and six months periods of 2012 compared to the same 2011 periods resulted from lower intangible asset amortization and declines in operating expenses.  Core deposit intangible assets were fully amortized as of March 31, 2012 reducing other expenses by $0.3 million during the three and six months ended June 30, 2012.    

Parent Company Results of Operations 

	For the Three Months			For the Six Months
	Ended June 30,			Ended June 30,
(in thousands)	2012	2011	Change	2012	2011	Change

Net interest income (expense):

Interest income on loans	$	45	57	(12)	221	100	121
Interest and dividend income
on taxable securities		-	3	(3)	-	43	(43)
Interest expense on junior
subordinated debentures		(4,126)	(3,856)	(270)	(8,293)	(7,638)	(655)

Net interest expense (4,081) (3,796) (285) (8,072) (7,495) (577)

(Recovery from) provision for
loan losses	(2)	514	(516)	(6)	494	(500)
Net interest expense after

 provision for loan losses (4,079) (4,310) 231  (8,066) (7,989) (77)

Non-interest income:
Income from unconsolidated trusts	119	432	(313)	240	813	(573)
Securities activities, net	-	(1,500)	1,500	-	(1,500)	1,500
Other income	287	317	(30)	625	526	99

   Non-interest income 406  (751) 1,157  865  (161) 1,026 

Non-interest expense:
Employee compensation and benefits	476	512	(36)	993	1,039	(46)
Professional fees	1,747	765	982	6,330	1,143	5,187
Advertising and promotion	75	88	(13)	134	114	20
Other	701	1,142	(441)	1,243	3,643	(2,400)

 Non-interest expense 2,999  2,507  492  8,700  5,939  2,761 

Parent Company loss $ (6,672) (7,568) 896  (15,901) (14,089) (1,812)

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BBX Capital Corporation

The Parent Company interest income on loans during the three and six months ended June  30, 2012 and 2011 represents interest income on two performing loans.  During the six months ended June 30, 2012, the Parent Company recognized $134,000 of additional interest income on one of the performing loans as a result of the receipt of previously deferred monthly payments.

Interest and dividend income on taxable securities during the three months ended June  30, 2011 primarily represents earnings from a BankAtlantic reverse repurchase agreement and dividends from an equity investment. The Parent Company ceased receiving dividends from the equity investment during the second quarter of 2011 and transferred the reverse repurchase agreement to a non-interest bearing BankAtlantic checking account during the third quarter of 2011.

Interest expense for the three and six months ended June  30, 2012 and 2011 represents interest expense recognized on the Parent Company’s junior subordinated debentures.  The increase in interest expense during the 2012 periods compared to 2011 periods reflects higher average balances on junior subordinated debentures resulting from the deferral of interest.  The average balance on junior subordinated debentures increased from $327 million and $325 million during the three and six months ended June 30, 2011 to $342 million and $340 million during the same 2012 periods, respectively.  Average interest rates on junior subordinated debentures were 4.73%  and 4.74% during the three and six months ended June 30, 2011 compared to 4.84%  and 4.90% during the same 2012 periods, respectively.

Income from unconsolidated trusts during the three and six months ended June 30, 2012 and 2011 represents equity earnings from trusts formed to issue trust preferred securities.  

Securities activities, net during the three and six months ended June 30, 2011 represents the Parent Company’s recognition of a $1.5 million other than temporary impairment on an equity security.  There were no impairments on equity securities during the three and six months ended June 30, 2012.

Included in other non-interest income during each of the three and six months ended June 30, 2012 and 2011 was $0.3 million and $0.6 million of income from BankAtlantic for executive management services. These fees were eliminated in the Company’s consolidated financial statements.  Other non-interest income during the six months ended June 30, 2011 included a loss of $99,000 from the sale of $1.7 million of loans held for sale.  The Parent Company did not sell loans during the six months ended June 30, 2012.

The lower compensation expense primarily reflects lower share-based compensation expense as equity awards have not been granted since February 2010. 

The substantial increase in professional fees during the three and six months ended June 30, 2012 compared to the same 2011 periodsprimarily represents litigation costs from the TruPS related litigation in Delaware associated with the BB&T Transaction, which includes an estimate of reimbursements to trustees for their legal fees and related expenses in that litigation. 

The decrease in other non-interest expense during the quarter ended June 30, 2012 compared to the same 2011 quarter related primarily to lower impairments.  Impairments on real estate owned and loans held for sale declined from $0.7 million during the 2011 quarter to $0.5 million during the same 2012 quarter. The decrease in other non-interest expenses during the six months ended June 30, 2012 compared to the same 2011 period primarily reflects lower impairments of loans and real estate owned which decreased from $3.1 million during the 2011 six month period to $0.8 million during the same 2012 period. 

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BBX Capital Corporation

Credit Quality

The composition of the Parent Company’s loans and real estate owned at the indicated dates was as follows (in thousands):

June 30,	December 31,
2012	2011

Nonaccrual loans:

Commercial non-real estate:	$	-	948
Commercial real estate:
Residential		3,296	3,703
Land		424	3,432

Total non-accrual loans 3,720  8,083 

Allowance for loan losses  - (784)

Non-accrual loans, net 3,720  7,299 

Performing other commercial loans		2,386	2,432
Loans receivable, net	$	6,106	9,731
Real estate owned	$	8,386	9,137

During the six months ended June 30, 2012, the Parent Company charged off a $0.9 million commercial non-real estate loan and foreclosed on $3.4 million of land loans.  The Parent Company had established a $0.8 million specific valuation allowance during prior periods on the charged off commercial non-real estate loan.

During the six months ended June  30, 2012, the Parent Company sold $3.5 million of real estate owned for a $0.4 million gain.

The following table outlines general information about the Parent Company’s non-accrual loans  as of June 30,2012 (in thousands):

		Unpaid
		Principal	Recorded	Specific	Date loan	Date Placed	Default	Collateral	Date of Last
Relationships		Balance	Investment	Reserves	Originated	on Nonaccrual	Date (2)	Type (3)	Full Appraisal
Residential Land Developers
Borrower No. 1 (1)	$	20,005	3,296	-	Q1-2005	Q4-2007	Q1-2008	Residential	Q3-2011
Borrower No. 2		3,060	424	-	Q2-2006	Q4-2008	Q1-2008	Residential	Q2-2011
Total Residential Land Developers	$	23,065	3,720	-

(1) During 2008, 2009 and 2010, the Parent Company recognized partial charge-offs on relationship No. 1 aggregating $16.4 million.

(2) The default date is defined as the date of the initial missed payment prior to default.

(3) Acquisition and development (“A&D”).

The loans that comprise the above relationships are all collateral dependent. As such, the Parent Company measures these loans based on the fair value of the collateral less costs to sell. The fair value of the collateral was determined using unadjusted third party appraisals for all relationships. Management performs quarterly impairment analyses on these credit relationships subsequent to the date of the appraisal and may reduce appraised values if market conditions significantly

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BBX Capital Corporation

deteriorate subsequent to the appraisal date.  However, our policy is to obtain a full appraisal within one year from the date of the prior appraisal, unless the loan is in the process of foreclosure. 

Changes in the Parent Company’s allowance for loan losses were as follows (in thousands):

		For the Three Months		For the Six Months
		Ended June 30,		Ended June 30,
		2012	2011	2012	2011
Balance, beginning of period	$	-	814	784	830
Loans charged-off		-	(1,329)	(948)	(1,325)
Recoveries of loans previously charged-off		2	-	170	-
Net (charge-offs)		2	(1,329)	(778)	(1,325)
(Recovery from) provision for loan losses		(2)	515	(6)	495
Balance, end of period	$	-	-	-	-

The provision for loan losses during the six months ended June 30, 2012 reflects the charge-off of a $0.9 million commercial non-real estate loan and the related charge-off of the specific valuation allowances established on this non-real estate loans during prior periods.  The $0.2 million recovery relates to the foreclosure of a commercial land loan for which the fair value of the collateral less cost to sell exceeded the recorded investment in the loan. 

The $1.3 million of charge-offs during the three and six months ended June 30, 2011 were comprised of a $1.2 million charge-off of a commercial land loan and a $0.1 million charge-off of a commercial residential loan.  The Parent Company reversed a $0.8 million specific valuation allowance related to the commercial land loan charged-off during the three months ended June 30, 2011.

BBX Capital Corporation Consolidated Financial Condition

The Company’s total assets increased as of June  30, 2012 compared to December 31, 2011 primarily as a result of deposit growth with excess funds invested in cash balances at the Federal Reserve Bank.  Deposit balances increased by $170.4 million and total assets increased by $153.8 million.  Cash and interest bearing deposits in other banks increased by $423.2 million. The remaining cash increase resulted primarily from a higher percentage of proceeds from the normal repayments of earning assets not being reinvested in earning assets as BankAtlantic significantly reduced loan purchases and originations, acquisition of tax certificates and acquisitions of securities available for sale.

Total assets at June 30, 2012 were $3.8 billion compared to $3.7 billion at December 31, 2011.  The changes in components of total assets from December 31, 2011 to June 30, 2012 are summarized below:

· Increase in interest-bearing deposits in other banks reflecting higher cash balances at the Federal Reserve Bank resulting primarily from deposit growth and repayments of loans and securities available for sale;

· Decrease in securities available for sale reflecting the reclassification of $40.5 million of securities available for sale to assets held for sale as well as normal repayments;

· Decrease in tax certificate balances reflecting the reclassification of $29.9 million of tax certificates to assets held for sale as well as normal redemptions;

· Decrease in the Company’s loans held for sale primarily resulting from loan repayments and lower of cost or market adjustments;

· Reduction in loans receivable, net reflecting the reclassification of $1.9 billion of loans to assets held for sale as well as $21.9 million of loans migrating to real estate owned and the repayments of loans in the ordinary course of business;

· Decrease in accrued interest receivable resulting primarily from the reclassification of $12.8 million of accrued interest receivable into assets held for sale and from lower earning asset balances;

· Decrease in real estate owned primarily resulting from residential and commercial real estate sales partially offset by loans migrating to real estate owned;

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BBX Capital Corporation

· Decrease in office properties and equipment resulting primarily from the reclassification of $133.2 million of office properties and equipment to assets held for sale and the transfer of a $2.4 million property to real estate held for sale in June 2012;  

· Assets held for sale represents assets to be transferred to BB&T under the terms of the Agreement; and

· FHLB stock, real estate held for sale, goodwill and prepaid FDIC deposit insurance assessment were assets transferred to held for sale in their entirety.

The Company's total liabilities at June  30, 2012 were $3.9 billion compared to $3.7 billion at December 31, 2011.  The changes in components of total liabilities from December 31, 2011 to June 30, 2012 are summarized below:

· Increase in junior subordinated debentures liability due to interest deferrals;

· Subordinated debentures of $22 million were reclassified to liabilities held for sale;

· Included in other liabilities as of June 30, 2012 were principal and interest advances on  purchased residential loans and real estate owned serviced by others of $12.6 million as well as  loan escrow balances and accrued liabilities and;

· Liabilities held for sale represents liabilities to be transferred to BB&T upon the closing of the transaction.

Liquidity and Capital Resources 

On July 31, 2012, BBX completed its previously announced sale of BankAtlantic to BB&T. Under the terms of the Agreement, immediately prior to the sale of BankAtlantic to BB&T, BankAtlantic distributed to BBX the membership interests of two BankAtlantic wholly-owned subsidiaries, Florida Asset Resolution Group, LLC (“FAR”) and BBX Capital Management, LLC (“CAM”). 

CAM’s assets consisted of non-performing commercial loans, commercial real estate owned and previously written off assets that had an aggregate carrying value on BankAtlantic’s balance sheet of $126 million and $81 million of cash as of June 30, 2012.  CAM had approximately $1.5 million of liabilities related to these assets as of June 30, 2012. 

FAR’s assets consisted of performing and non-performing loans, tax certificates and real estate owned that had an aggregate carrying value on BankAtlantic’s balance sheet of approximately $358 million and $37 million of cash as of June 30, 2012.  FAR hadapproximately $13.6 million of liabilities related to these assets as of June 30, 2012.  At the closing of the Transaction, the Company transferred to BB&T 95% of the outstanding preferred membership interests in FAR in connection with BB&T’s assumption of the Company’s outstanding TruPS obligations. The Company continues to hold the remaining 5% of FAR’s preferred membership interests. Under the terms of the Amended and Restated Limited Liability Company of FAR which was entered into by the Company and BB&T at the closing, BB&T will hold its 95% preferred interest in the net cash flows of FAR until such time as it has recovered $285 million in preference amount plus a priority return of LIBOR + 200 basis points per annum on any unpaid preference amount. At that time, BB&T’s interest in FAR will terminate, and the Company will thereafter be entitled to any and all residual proceeds from FAR. It is expected that the assets (other than cash) contributed to FAR will be monetized over a period of seven years, or longer provided BB&T’s preference amount is repaid within such seven-year period. The Company entered into an incremental $35 million guarantee in BB&T’s favor to further assure BB&T’s recovery of the $285 million preference amount within seven years.  As a consequence, until BB&T’s preferred interest in FAR is recovered, the cash generated from the activities of FAR will be utilized to pay expenses, fund the preferred return and repay the preferred membership interest.

BBX also received $6.4 million of cash consideration upon the sale of BankAtlantic and the Company recognized a $307 million gain in connection with the Transaction: however, the gain and the $6.4 million of cash consideration received from BB&T were based on available financial information as of June 30, 2012.  Under the terms of the Agreement, these amounts are subject to adjustment post-closing as all relevant financial information is reviewed and approved by the parties, and the cash payment made to the Company may be less than the amount indicated above or the Company may be required to make a net cash payment to BB&T.  

The Company utilized $51.3 million of the cash received in connection with the transaction to pay BB&T for all accrued and unpaid interest on the TruPS through the closing of the Transaction, and $7.3 million of the cash to fund transaction costs and payments of certain legal fees and expenses with respect to the litigation relating to the Transaction

60

BBX Capital Corporation

brought by certain holders of the TruPS.  The remaining cash of approximately $29 million is available for general corporate purposes.

The net cash flows received by the Company from the Transaction are summarized below (in thousands):

Cash received from Transaction:
Cash held in CAM	$	81,210
Transaction cash consideration		6,433

 Total cash received 87,643 

Cash outflows from Transaction:
TruPS accrued and unpaid interest	(51,314)
Legal fees - TruPS litigation	(2,349)
Estimated Transaction costs	(5,000)

 Total cash outflows (58,663)

Net cash received from Transaction
by BBX	$	28,980

The Company’s principal source of liquidity was its cash holdings and funds obtained from its wholly-owned work-out subsidiary.  The Company received approximately $29 million of cash in connection with the sale of BankAtlantic excluding the cash in FAR, subject to adjustment as described above, and expects to obtain funds in subsequent periods from the loans and real estate and other assets in CAM and the Company’s existing asset workout subsidiary, each of which is wholly-owned by the Company, and distributions from its 5% preferred interest in the net cash flows from FAR.  The Company also may obtain funds through the issuance of equity and debt securities. The Company anticipates utilizing these funds for general corporate purposes including employee compensation and benefits, servicing costs and real estate owned operating expenses in the near term and anticipates involvement in real estate investment and specialty finance activities over time as assets are monetized. 

61

BBX Capital Corporation

Item 3.  Quantitative and Qualitative Disclosures about Market Risk

After giving effect to the consummation of the BB&T Transaction, the Company’s market risk primarily consists of interest rate risk on its accruing loans. As a result, the Company’s earnings are affected by interest rates, which are subject to the influence of economic conditions generally, both domestic and foreign, and also to the monetary and fiscal policies of the United States and its agencies, particularly the Federal Reserve Board. The Company has estimated the changes in its interest income based on changes in interest rates.  Presented below is an analysis of the Company’s estimated interest income over a twelve month period calculated utilizing the Company’s model (dollars in thousands):

As of June 30, 2012
Basis Point		Net
Change		Interest
in Rate		Income
200	$	13,301
100		12,012
-		10,723
(100)		9,434
(200)		8,145

Additionally, because a significant majority of the Company’s assets consist of loans secured by real estate and real estate owned, the Company’s financial condition and earnings are also affected by changes in real estate values in the markets where the real estate is located.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

As of the end of the period covered by this report, we carried out an evaluation, under the supervision and with the participation of our principal executive officer and principal financial officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934 (the “Exchange Act”)). Based on this evaluation, our principal executive officer and principal financial officer concluded that our disclosure controls and procedures were effective as of June  30, 2012 to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act (i) is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms and (ii) is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting that occurred during the quarter ended June 30, 2012 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. 

62

BBX Capital Corporation

PART II - OTHER INFORMATION

Item 1A.  Risk Factors.

There have been no material changes from the risk factors disclosed in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2011, except for the addition of the following risk factor.

Our business and operations and the mix of our assets will change as a result of the sale of BankAtlantic to BB&T and our financial condition and results of operations will depend on whether the assets retained by us in connection with the sale transaction are monetized at or near their current book values and our results of operations will vary depending upon the timing of such monetization.

On July 31, 2012, BBX completed its previously announced sale of BankAtlantic to BB&T. Under the terms of the Agreement, immediately prior to the sale of BankAtlantic to BB&T, BankAtlantic distributed to BBX the membership interests of two BankAtlantic wholly-owned subsidiaries, Florida Asset Resolution Group, LLC (“FAR”) and BBX Capital Management, LLC (“CAM”).  CAM’s assets consisted of non-performing commercial loans, commercial real estate owned and previously written off assets that had an aggregate carrying value on BankAtlantic’s balance sheet of $126 million as of June 30, 2012 and cash.  FAR’s assets consisted of performing and non-performing loans, tax certificates and real estate owned that had an aggregate carrying value on BankAtlantic’s balance sheet of approximately $358 million and $37 million of cash as of June 30, 2012.  At the closing of the Transaction, the Company transferred to BB&T 95% of the outstanding preferred membership interests in FAR which BB&T will hold until such time as it has recovered $285 million in preference amount plus a priority return of LIBOR + 200 basis points per annum on any unpaid preference amount.  The Company continues to hold the remaining 5% of FAR’s preferred membership interests and 100% of the residual interest in any remaining cash flows.  We expect to focus our operations on managing the assets held in CAM and in the Company’s existing wholly owned asset work out subsidiary and on servicing approximately $54.7 million of commercial nonaccrual loans and real estate owned held by FAR.  Our activities in this regard may include renewing, modifying, increasing, extending, refinancing and making protective advances with respect to the assets and participating in the management of real estate development activities.  Additionally, depending on the timing and volume of cash flow generated in connection with our management of these assets and our interests in FAR, we may in the near-term make short term investments, and over time make investments and engage in various specialty finance activities.  Accordingly, our business and operations will differ significantly from our business and operations prior to the sale of BankAtlantic. 

The Company’s financial condition and results of operations will be dependent in the near term, in large part, on our ability to successfully manage and monetize the assets currently held in CAM and in the Company’s existing wholly owned asset workout subsidiary and the assets in FAR which we have been engaged to service as well as on the cash flow we receive based on our interest in FAR.   Further, our financial condition and results of operations will be dependent in the longer term on these factors as well as our ability to successfully invest these cash flows.  If the assets held in CAM and our other wholly owned asset workout subsidiary and the assets held in FAR are not monetized at or near the current book values ascribed to them, our financial condition and results of operations would be adversely affected, and our ability to successfully pursue our business goals could be adversely affected.  Additionally, because a majority of these assets are nonaccrual and otherwise do not generate income on a regular basis, we do not expect to generate significant revenue or income with respect to these assets until such time as an asset is monetized through repayments or transactions involving the sale, joint venture or development of the underlying real estate.  Accordingly, we expect our revenues and results of operations to vary significantly on a quarterly basis and from year to year.

63

BBX Capital Corporation

Item 6.Exhibits

Exhibit 31.1Certification of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

Exhibit 31.2Certification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

Exhibit 32.1Certification of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

Exhibit 32.2Certification of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

Exhibit 101Interactive data Files

64

BBX Capital Corporation

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

BBX Capital Corporation
August 14, 2012	By	/s/ Alan B. Levan
Date		Alan B. Levan
		Chief Executive Officer/
		Chairman/President
August 14, 2012	By:	/s/ John K. Grelle
Date		John K. Grelle
		Executive Vice President,
		Chief Financial Officer

65

BBX Capital Corporation

66

EX-31.1

BBX Capital Corporation

Exhibit 31.1

I, Alan B. Levan, certify that:

1. I have reviewed thisquarterly report on Form 10-Q of BBX Capital Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: August 14, 2012

By:/s/Alan B. Levan

Alan B. Levan,

Chief Executive Officer

21

EX-31.2

BBX Capital Corporation

Exhibit 31.2

I, John K. Grelle, certify that:

1. I have reviewed this quarterlyreport on Form 10-Q of BBX Capital Corporation

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: August 14, 2012

By:/s/John K. Grelle

John K. Grelle,

Chief Financial Officer

21

EX-32.1

BBX Capital Corporation

Exhibit 32.1                                    

Certification Pursuant to 18 U.S.C. Section 1350,

as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the Quarterly Report on Form 10-Q of BBX Capital Corporation (the “Company”) for the period ended June 30, 2012 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Alan B. Levan, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

By:/s/Alan B. Levan

Name:Alan B. Levan

Title:  Chief Executive Officer

Date:  August 14, 2012

EX-32.2

BBX Capital Corporation

Exhibit 32.2

Certification Pursuant to 18 U.S.C. Section 1350,

as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the Quarterly Reporton Form 10-Qof BBX Capital Corporation (the “Company”) for the period ended June 30, 2012 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, John K. Grelle, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

By:/s/John K. Grelle

Name: John K. Grelle

Title:   Chief Financial Officer

Date:   August 14, 2012

21

XML

Loans Receivable (Composition Of Loan Portfolio) (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011
Composition Of Loans By Category [Line Items]
Gross loans, by category	$ 362,685	$ 2,575,512	$ 2,802,203
Premiums, discounts and net deferred fees	262	2,578
Allowance for loan losses	(7,153)	(129,887)
Loans receivable -- net	355,794	2,448,203
Loans held for sale	47,029	55,601
Commerical Non-Real Estate [Member]
Composition Of Loans By Category [Line Items]
Gross loans, by category	28,167	118,145
Commercial Real Estate Residential [Member]
Composition Of Loans By Category [Line Items]
Gross loans, by category	60,894	104,593
Commercial Real Estate Land [Member]
Composition Of Loans By Category [Line Items]
Gross loans, by category	3,496	24,202
Commercial Real Estate Owner Occupied [Member]
Composition Of Loans By Category [Line Items]
Gross loans, by category	8,100	86,809
Commercial Real Estate Owner Other [Member]
Composition Of Loans By Category [Line Items]
Gross loans, by category	161,180	464,902
Small Business Real Estate [Member]
Composition Of Loans By Category [Line Items]
Gross loans, by category	19,963	184,919
Small Business Non-Real Estate [Member]
Composition Of Loans By Category [Line Items]
Gross loans, by category	11,755	99,835
Consumer Home Equity [Member]
Composition Of Loans By Category [Line Items]
Gross loans, by category	19,958	545,908
Consumer Other [Member]
Composition Of Loans By Category [Line Items]
Gross loans, by category	30	10,704
Consumer Deposit Overdrafts [Member]
Composition Of Loans By Category [Line Items]
Gross loans, by category		1,971
Residential-Interest Only [Member]
Composition Of Loans By Category [Line Items]
Gross loans, by category	18,077	375,498
Residential-Amortizing [Member]
Composition Of Loans By Category [Line Items]
Gross loans, by category	$ 31,065	$ 558,026

XML

Segment Reporting (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Segment Reporting Information [Line Items]
Interest income	$ 7,287	$ 11,167	$ 15,622	$ 23,005
Interest expense	(4,126)	(3,854)	(8,293)	(7,638)
Recovery for loan losses	627	(4,313)	1,392	(11,140)
Non-interest income	131	(1,052)	338	(757)
Non-interest expense	(12,279)	(19,654)	(30,590)	(35,376)
Segments loss before income taxes	(8,360)	(17,706)	(21,531)	(31,906)
Provision for income tax
Net loss	(8,360)	(17,706)	(21,531)	(31,906)
Total assets	3,831,930	3,863,864	3,831,930	3,863,864	3,678,119
CLRU [Member]
Segment Reporting Information [Line Items]
Interest income	7,242	11,109	15,401	22,862
Interest expense
Recovery for loan losses	625	(3,799)	1,386	(10,646)
Non-interest income		12	70	13
Non-interest expense	(9,555)	(17,460)	(22,487)	(30,046)
Segments loss before income taxes	(1,688)	(10,138)	(5,630)	(17,817)
Provision for income tax
Net loss	(1,688)	(10,138)	(5,630)	(17,817)
Total assets	653,838	745,175	653,838	745,175
BankAtlantic [Member]
Segment Reporting Information [Line Items]
Interest income	45	60	221	143
Interest expense	(4,126)	(3,856)	(8,293)	(7,638)
Recovery for loan losses	2	(514)	6	(494)
Non-interest income	406	(751)	865	(161)
Non-interest expense	(2,999)	(2,507)	(8,700)	(5,939)
Segments loss before income taxes	(6,672)	(7,568)	(15,901)	(14,089)
Provision for income tax
Net loss	(6,672)	(7,568)	(15,901)	(14,089)
Total assets	307,520	356,709	307,520	356,709
Adjusting And Elimination Entries [Member]
Segment Reporting Information [Line Items]
Interest income		(2)
Interest expense		2
Recovery for loan losses
Non-interest income	(275)	(313)	(597)	(609)
Non-interest expense	275	313	597	609
Segments loss before income taxes
Provision for income tax
Net loss
Total assets	$ 2,870,572	$ 2,761,980	$ 2,870,572	$ 2,761,980

XML

Loans Receivable (Schedule Of Troubled Debt Restructurings) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012 contract	Jun. 30, 2011 contract	Jun. 30, 2012 contract	Jun. 30, 2011 contract
Financing Receivable, Modifications [Line Items]
Number	1	21	4	34
Recorded Investment	$ 47	$ 64,230	$ 451	$ 77,346
Number, subsequently defaulted	2	20	2	23
Recorded Investment, subsequently defaulted	177	16,115	177	20,453
Commerical Non-Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Number		3		3
Recorded Investment		2,211		2,211
Commercial Real Estate Residential [Member]
Financing Receivable, Modifications [Line Items]
Number		6		6
Recorded Investment		20,743		20,743
Number, subsequently defaulted		2		2
Recorded Investment, subsequently defaulted		6,869		6,869
Commercial Real Estate Land [Member]
Financing Receivable, Modifications [Line Items]
Number, subsequently defaulted				1
Recorded Investment, subsequently defaulted				3,458
Commercial Real Estate Owner Occupied [Member]
Financing Receivable, Modifications [Line Items]
Number		1		1
Recorded Investment		692		692
Number, subsequently defaulted		2		3
Recorded Investment, subsequently defaulted		613		1,473
Commercial Real Estate Owner Other [Member]
Financing Receivable, Modifications [Line Items]
Number		4		7
Recorded Investment		39,880		50,998
Number, subsequently defaulted		1		1
Recorded Investment, subsequently defaulted		6,102		6,102
Small Business Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Number			2
Recorded Investment			342
Number, subsequently defaulted		1		1
Recorded Investment, subsequently defaulted		156		156
Consumer [Member]
Financing Receivable, Modifications [Line Items]
Number	1	3	1	4
Recorded Investment	47	410	47	460
Number, subsequently defaulted		8		9
Recorded Investment, subsequently defaulted		757		777
Residential-Interest Only [Member]
Financing Receivable, Modifications [Line Items]
Number				1
Recorded Investment				547
Number, subsequently defaulted		1		1
Recorded Investment, subsequently defaulted		547		547
Residential-Amortizing [Member]
Financing Receivable, Modifications [Line Items]
Number		4	1	12
Recorded Investment		294	62	1,695
Number, subsequently defaulted	2	5	2	5
Recorded Investment, subsequently defaulted	$ 177	$ 1,071	$ 177	$ 1,071

XML

Commitments And Contingencies (Narrative) (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Nov. 18, 2010
Commitments And Contingencies [Abstract]
(Loss) incurred related to tax certificate settlement	$ 1.6
Per share amount awarded to Class A shareholders		$ 2.41

XML

Loans Recievable (Loan To Value Ratios Of Residential Loans) (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012		Dec. 31, 2011
60.1% - 70% [Member] | Minimum [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Percentage of loan to value ratio	60.10%
60.1% - 70% [Member] | Maximum [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Percentage of loan to value ratio	70.00%
70.1% - 80% [Member] | Minimum [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Percentage of loan to value ratio	70.10%
70.1% - 80% [Member] | Maximum [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Percentage of loan to value ratio	80.00%
80.1% - 90% [Member] | Minimum [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Percentage of loan to value ratio	80.10%
80.1% - 90% [Member] | Maximum [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Percentage of loan to value ratio	90.00%
More Than 90.1% [Member] | Minimum [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Percentage of loan to value ratio	90.10%
Residential-Interest Only [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Gross loans, by loan to value ratio as of the loan origination date	$ 23,463	[1]	$ 382,419	[1]
Residential-Interest Only [Member] | Ratios Not Available [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Gross loans, by loan to value ratio as of the loan origination date	4,764	[1],[2]	124,868	[1],[2]
Residential-Interest Only [Member] | Less Than Or Equal To 60% [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Gross loans, by loan to value ratio as of the loan origination date	413	[1]	20,314	[1]
Residential-Interest Only [Member] | 60.1% - 70% [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Gross loans, by loan to value ratio as of the loan origination date	548	[1]	10,316	[1]
Residential-Interest Only [Member] | 70.1% - 80% [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Gross loans, by loan to value ratio as of the loan origination date	254	[1]	24,784	[1]
Residential-Interest Only [Member] | 80.1% - 90% [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Gross loans, by loan to value ratio as of the loan origination date	988	[1]	27,622	[1]
Residential-Interest Only [Member] | More Than 90.1% [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Gross loans, by loan to value ratio as of the loan origination date	16,496	[1]	174,515	[1]
Residential-Amortizing [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Gross loans, by loan to value ratio as of the loan origination date	41,940	[1]	571,240	[1]
Residential-Amortizing [Member] | Ratios Not Available [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Gross loans, by loan to value ratio as of the loan origination date	19,081	[1],[2]	304,372	[1],[2]
Residential-Amortizing [Member] | Less Than Or Equal To 60% [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Gross loans, by loan to value ratio as of the loan origination date	3,532	[1]	68,817	[1]
Residential-Amortizing [Member] | 60.1% - 70% [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Gross loans, by loan to value ratio as of the loan origination date	1,148	[1]	30,033	[1]
Residential-Amortizing [Member] | 70.1% - 80% [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Gross loans, by loan to value ratio as of the loan origination date	1,791	[1]	32,271	[1]
Residential-Amortizing [Member] | 80.1% - 90% [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Gross loans, by loan to value ratio as of the loan origination date	2,000	[1]	27,523	[1]
Residential-Amortizing [Member] | More Than 90.1% [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Gross loans, by loan to value ratio as of the loan origination date	$ 14,388	[1]	$ 108,224	[1]

[1] Current loan-to-value ratios (“LTV”) for the majority of the portfolio were obtained as of the second quarter of 2011 based on automated valuation models.

[2] Ratios not available consisted of properties not found in the automated valuation database, and $10.0 million and $78.8 million as of June 30, 2012 and December 31, 2011, respectively, of loans originated under the community reinvestment act program that are not monitored based on loan-to-value.

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Fair Value Measurement (Schedule Of Fair Value Assets Measured On Nonrecurring Basis) (Details) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012		Jun. 30, 2011
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets nonrecurring, by asset type	$ 36,685		$ 328,752
Total Impairments	3,993	[1]	39,789	[2]
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets nonrecurring, by asset type
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets nonrecurring, by asset type
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets nonrecurring, by asset type	36,685		328,752
Loans Measured For Impairment Using The Fair Value Of The Underlying Collateral [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets nonrecurring, by asset type			265,245
Total Impairments			24,624	[2]
Loans Measured For Impairment Using The Fair Value Of The Underlying Collateral [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets nonrecurring, by asset type
Loans Measured For Impairment Using The Fair Value Of The Underlying Collateral [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets nonrecurring, by asset type
Loans Measured For Impairment Using The Fair Value Of The Underlying Collateral [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets nonrecurring, by asset type			265,245
Impaired Loans Held For Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets nonrecurring, by asset type	9,397		27,463
Total Impairments	459	[1]	6,335	[2]
Impaired Loans Held For Sale [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets nonrecurring, by asset type
Impaired Loans Held For Sale [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets nonrecurring, by asset type
Impaired Loans Held For Sale [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets nonrecurring, by asset type	9,397		27,463
Impaired Real Estate Owned [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets nonrecurring, by asset type	27,288		36,044
Total Impairments	3,534	[1]	8,830	[2]
Impaired Real Estate Owned [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets nonrecurring, by asset type
Impaired Real Estate Owned [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets nonrecurring, by asset type
Impaired Real Estate Owned [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets nonrecurring, by asset type	$ 27,288		$ 36,044

[1] Total impairments represent the amount recognized during the six months ended June 30, 2012 on assets that were held and measured at fair value as of June 30, 2012.

[2] Total impairments represent the amount recognized during the six months ended June 30, 2011 on assets that were measured at fair value as of June 30, 2011.

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Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2012

Segment Reporting [Abstract]

Schedule Of Segment Information

				Adjusting and
			Parent	Elimination	Segment
For the Three Months Ended:		CLRU	Company	Entries	Total
June 30, 2012:
Interest income	$	7,242	45	-	7,287
Interest expense		-	(4,126)	-	(4,126)
Recovery of loan losses		625	2	-	627
Non-interest income		-	406	(275)	131
Non-interest expense		(9,555)	(2,999)	275	(12,279)
Segments loss
before income taxes		(1,688)	(6,672)	-	(8,360)
Provision for income tax		-	-	-	-
Net loss	$	(1,688)	(6,672)	-	(8,360)
Total assets	$	653,838	307,520	2,870,572	3,831,930
				Adjusting and
			Parent	Elimination	Segment
For the Three Months Ended:		CLRU	Company	Entries	Total
June 30, 2011:
Interest income	$	11,109	60	(2)	11,167
Interest expense		-	(3,856)	2	(3,854)
Provision for loan losses		(3,799)	(514)	-	(4,313)
Non-interest income		12	(751)	(313)	(1,052)
Non-interest expense		(17,460)	(2,507)	313	(19,654)
Segments loss
before income taxes		(10,138)	(7,568)	-	(17,706)
Provision for income tax		-	-	-	-
Net loss	$	(10,138)	(7,568)	-	(17,706)
Total assets	$	745,175	356,709	2,761,980	3,863,864

				Adjusting and
			Parent	Elimination	Segment
For the Six Months Ended:		CLRU	Company	Entries	Total
June 30, 2012:
Interest income	$	15,401	221	-	15,622
Interest expense		-	(8,293)	-	(8,293)
Recovery of loan losses		1,386	6	-	1,392
Non-interest income		70	865	(597)	338
Non-interest expense		(22,487)	(8,700)	597	(30,590)
Segments loss
before income taxes		(5,630)	(15,901)	-	(21,531)
Provision for income tax		-	-	-	-
Net loss	$	(5,630)	(15,901)	-	(21,531)
				Adjusting and
			Parent	Elimination	Segment
For the Six Months Ended:		CLRU	Company	Entries	Total
June 30, 2011:
Interest income	$	22,862	143	-	23,005
Interest expense		-	(7,638)	-	(7,638)
Provision for loan losses		(10,646)	(494)	-	(11,140)
Non-interest income		13	(161)	(609)	(757)
Non-interest expense		(30,046)	(5,939)	609	(35,376)
Segments loss
before income taxes		(17,817)	(14,089)	-	(31,906)
Provision for income tax		-	-	-	-
Net loss	$	(17,817)	(14,089)	-	(31,906)

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Share-based Compensation and Common Stock (Schedule Of Nonvested Restricted Common Shares) (Details) (USD $)	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Share-Based Compensation And Common Stock [Abstract]
Class A Non-vested Restricted Stock, Outstanding begining balance	211,900	313,780
Class A Non-vested Restricted Stock, Vested	(70,500)	(86,730)
Class A Non-vested Restricted Stock, Forfeited	(4,000)	(7,250)
Class A Non-vested Restricted Stock, Granted
Class A Non-vested Restricted Stock, Outstanding ending balance	137,400	219,800
Weighted Average Grant date Fair Value, Outstanding begining balance	$ 6.96	$ 7.40
Weighted Average Grant date Fair Value, Vested	$ 6.20	$ 8.55
Weighted Average Grant date Fair Value, Forfeited	$ 6.20	$ 6.20
Weighted Average Grant date Fair Value, Granted
Weighted Average Grant date Fair Value, Outstanding ending balance	$ 7.37	$ 6.99

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Loans Receivable (Activity In The Allowance For Loan Losses By Portfolio) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Beginning balance	$ 7,167	$ 155,051	$ 129,887	$ 162,139
Charge-off:	(4,922)	(29,380)	(89,437)	(59,332)
Recoveries:	2,662	1,262	4,649	3,620
Provision:	(627)	4,313	(1,392)	11,140
Transfer to assets held for sale:			(48,645)	(7,306)
Discontinued operations provision:	2,873	6,397	12,091	27,382
Ending balance / Total	7,153	137,643	7,153	137,643
Allowance for Loan Losses, Ending balance individually evaluated for impairment	2,292	65,077	2,292	65,077
Allowance for Loan Losses, Ending balance collectively evaluated for impairment	4,861	72,566	4,861	72,566
Loans receivable, Ending balance individually evaluated for impairment	250,724	412,580	250,724	412,580
Loans receivable, Ending balance collectively evaluated for impairment	111,961	2,389,623	111,961	2,389,623
Total gross loans	362,685	2,802,203	362,685	2,802,203	2,575,512
Purchases of loans		9,816		13,680
Proceeds from loan sales		29,676	1,000	40,394
Loans receivable transferred to loans held-for-sale		28,444	16,140	55,966
Commerical Non-Real Estate [Member]
Beginning balance	1,359	10,708	16,407	10,786
Charge-off:		(124)	(14,615)	(588)
Recoveries:	386	57	440	848
Provision:	(945)	376	465	(29)
Transfer to assets held for sale:			(1,897)
Ending balance / Total	800	11,017	800	11,017
Allowance for Loan Losses, Ending balance individually evaluated for impairment	237	9,618	237	9,618
Allowance for Loan Losses, Ending balance collectively evaluated for impairment	563	1,399	563	1,399
Loans receivable, Ending balance individually evaluated for impairment	7,361	34,569	7,361	34,569
Loans receivable, Ending balance collectively evaluated for impairment	20,806	90,261	20,806	90,261
Total gross loans	28,167	124,830	28,167	124,830
Commercial Real Estate [Member]
Beginning balance	4,212	79,142	67,054	83,859
Charge-off:	(1,778)	(15,100)	(53,281)	(26,152)
Recoveries:	1,631	75	1,631	793
Provision:	318	3,937	(1,857)	11,169
Transfer to assets held for sale:			(9,164)	(1,615)
Ending balance / Total	4,383	68,054	4,383	68,054
Allowance for Loan Losses, Ending balance individually evaluated for impairment	1,265	47,638	1,265	47,638
Allowance for Loan Losses, Ending balance collectively evaluated for impairment	3,118	20,416	3,118	20,416
Loans receivable, Ending balance individually evaluated for impairment	194,168	285,325	194,168	285,325
Loans receivable, Ending balance collectively evaluated for impairment	39,502	466,287	39,502	466,287
Total gross loans	233,670	751,612	233,670	751,612
Proceeds from loan sales		24,693	1,000	27,793
Loans receivable transferred to loans held-for-sale		28,444	16,140	30,894
Small Business [Member]
Beginning balance	1,020	10,125	7,168	11,514
Charge-off:	(748)	(2,010)	(2,372)	(4,621)
Recoveries:	128	203	270	513
Transfer to assets held for sale:			(4,454)
Discontinued operations provision:	926	1,535	714	2,447
Ending balance / Total	1,326	9,853	1,326	9,853
Allowance for Loan Losses, Ending balance individually evaluated for impairment	790	1,595	790	1,595
Allowance for Loan Losses, Ending balance collectively evaluated for impairment	536	8,258	536	8,258
Loans receivable, Ending balance individually evaluated for impairment	957	10,370	957	10,370
Loans receivable, Ending balance collectively evaluated for impairment	30,761	282,388	30,761	282,388
Total gross loans	31,718	292,758	31,718	292,758
Consumer [Member]
Beginning balance	366	27,511	22,554	32,043
Charge-off:	(849)	(6,379)	(7,413)	(14,193)
Recoveries:	236	492	1,031	900
Transfer to assets held for sale:			(20,639)
Discontinued operations provision:	654	3,375	4,874	6,249
Ending balance / Total	407	24,999	407	24,999
Allowance for Loan Losses, Ending balance individually evaluated for impairment		1,671		1,671
Allowance for Loan Losses, Ending balance collectively evaluated for impairment	407	23,328	407	23,328
Loans receivable, Ending balance individually evaluated for impairment	7,907	24,576	7,907	24,576
Loans receivable, Ending balance collectively evaluated for impairment	12,081	568,561	12,081	568,561
Total gross loans	19,988	593,137	19,988	593,137
Residential [Member]
Beginning balance	210	27,565	16,704	23,937
Charge-off:	(1,547)	(5,767)	(11,756)	(13,778)
Recoveries:	281	435	1,277	566
Transfer to assets held for sale:			(12,491)	(5,691)
Discontinued operations provision:	1,293	1,487	6,503	18,686
Ending balance / Total	237	23,720	237	23,720
Allowance for Loan Losses, Ending balance individually evaluated for impairment		4,555		4,555
Allowance for Loan Losses, Ending balance collectively evaluated for impairment	237	19,165	237	19,165
Loans receivable, Ending balance individually evaluated for impairment	40,331	57,740	40,331	57,740
Loans receivable, Ending balance collectively evaluated for impairment	8,811	982,126	8,811	982,126
Total gross loans	49,142	1,039,866	49,142	1,039,866
Purchases of loans		9,816		13,680
Proceeds from loan sales		4,983		12,601
Loans receivable transferred to loans held-for-sale				$ 25,072

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Securities Available For Sale (Securities Available For Sale) (Details) (USD $)	Jun. 30, 2012	Dec. 31, 2011
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		$ 44,354,000
Gross Unrealized Gains		2,081,000
Gross Unrealized Losses
Estimated Fair Value	26,000	46,435,000
Government Agency Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		43,094,000
Gross Unrealized Gains		2,014,000
Gross Unrealized Losses
Estimated Fair Value		45,108,000
Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		12,533,000
Gross Unrealized Gains		885,000
Gross Unrealized Losses
Estimated Fair Value		13,418,000
REMICs [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		30,561,000
Gross Unrealized Gains		1,129,000
Gross Unrealized Losses
Estimated Fair Value		31,690,000
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	10,000	1,260,000
Gross Unrealized Gains		67,000
Gross Unrealized Losses
Estimated Fair Value	$ 26,000	$ 1,327,000

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Related Parties (Schedule Of Service Arrangements With Related Parties) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Related Parties [Abstract]
Non-interest income:	$ 97	$ 93	$ 180	$ 210
Employee compensation and benefits	(8)	(16)	(17)	(32)
Other- back- office support	(336)	(574)	(804)	(972)
Net effect of affiliate transactions before income taxes	$ (247)	$ (497)	$ (641)	$ (794)

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Loans Recievable (Loan To Value Ratios Of Consumer Loans) (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
70.1% - 80% [Member] | Minimum [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Percentage of loan to value ratio	70.10%
70.1% - 80% [Member] | Maximum [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Percentage of loan to value ratio	80.00%
80.1% - 90% [Member] | Minimum [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Percentage of loan to value ratio	80.10%
80.1% - 90% [Member] | Maximum [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Percentage of loan to value ratio	90.00%
Consumer Home Equity [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Gross loans, by loan to value ratio as of the loan origination date	$ 19,958	$ 545,908
Consumer Home Equity [Member] | Less Than 70% [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Gross loans, by loan to value ratio as of the loan origination date	16,931	334,050
Consumer Home Equity [Member] | 70.1% - 80% [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Gross loans, by loan to value ratio as of the loan origination date	2,001	97,516
Consumer Home Equity [Member] | 80.1% - 90% [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Gross loans, by loan to value ratio as of the loan origination date	1,026	62,674
Consumer Home Equity [Member] | 90.1% - 100% [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Gross loans, by loan to value ratio as of the loan origination date		40,327
Consumer Home Equity [Member] | More Than 100% [Member]
Loan To Value Ratio Of Residential Loan [Line Items]
Gross loans, by loan to value ratio as of the loan origination date		$ 11,341

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Assets And Liabilities Held For Sale

6 Months Ended

Jun. 30, 2012

Assets And Liabilities Held For Sale [Abstract]

Assets And Liabilities Held For Sale

2.Assets and Liabilities Held For Sale

The assets and liabilities transferred to BB&T included in the Company’s Consolidated Statement of Financial Condition consisted of the following (in thousands):

		June 30,
		2012
Cash and due from banks	$	59,431
Securities available for sale, at fair value		33,550
Tax certificates		17,736
Federal Home Loan Bank stock		8,328
Loans receivable		1,833,738
Accrued interest receivable		11,347
Office properties and equipment		129,734
Goodwill		13,081
Other assets		19,337
Total assets held for sale	$	2,126,282
Deposits
Interest free checking	$	928,527
Insured money fund savings		699,179
Now accounts		1,114,360
Savings accounts		424,848
Total non-certificate accounts		3,166,914
Certificate accounts		283,615
Total deposits held for sale	$	3,450,529
Subordinated debentures	$	22,000
Other liabilities		36,347
Total other liabilities held for sale	$	58,347
Total liabilities held for sale	$	3,508,876

The majority of the cash and interest bearing deposits in other banks on the Company’s Consolidated Statement of Financial Position were also transferred to BB&T in the Transaction.

BankAtlantic’s five reporting units each reflect a component of the BankAtlantic entity and each is the lowest level for which cash flows can be clearly distinguished, operationally and for financial reporting purposes.These five components are Community Banking, Commercial Lending, Tax Certificates, Investments, and Capital Services.Based on the Agreement with BB&T, the Company determined that its Community Banking, Investments, Capital Services and Tax Certificates reporting units should be treated as discontinued operations.The Company sold all operations and the majority of the assets and liabilities of these discontinued reporting units to BB&T on July 31, 2012.Management does not intend to continue in any material respect any activities of or have any continuing involvement with these reporting units.The Company intends to continue Commercial Lending reporting unit activities after the closing of the Transaction.Therefore, although certain assets of this reporting unit will be sold to BB&T and are presented as assets and liabilities held for sale in the Consolidated Statement of Financial Condition as of June 30, 2012, the Commercial Lending reporting unit was not reported as discontinued operations.

Pursuant to the Agreement, FAR will retain in addition to certain assets associated with the Company’s continuing Commercial Lending reporting unit, certain assets and liabilities that were associated with the Company’s disposed reporting units (Community Banking, Tax Certificates, Investments, and Capital Services reporting units). The Company determined that the ongoing cash flows of the disposed reporting units were not significant relative to the historical cash flows from the activities of each reporting unit; therefore, the income and expenses associated with the disposed reporting units are reportedin discontinued operations for each period presented.The carrying value of the disposed reporting units’ net assets anticipated to be included in FAR’s total assets discussed above was $120 million as of June 30, 2012.The assets held by FAR are expected to be monetized in accordance with the terms of such assets or through orderly transactions over a seven year period.Ninety-five percent of the cash flows from these assets net of operating expenses and a stated preferred return will be applied toward the ongoing repayment of BB&T’s preferred interest in FAR.

The (loss) income from Community Banking, Investments, Capital Services and Tax Certificates reporting units included in discontinued operations in the Company’s Statement of Operations was as follows (in thousands):

		For the Three Months		For the Six Months
		Ended June 30,		Ended June 30,
		2012	2011	2012	2011
Total interest income	$	17,924	26,113	38,651	53,780
Total interest expense		3,248	4,242	6,502	8,954
Net interest income		14,676	21,871	32,149	44,826
Provision for loan losses		7,301	6,396	16,518	27,381
Net interest income after
provision for loan losses		7,375	15,475	15,631	17,445
Non-interest income:
Service charges on deposits		7,491	11,226	15,342	23,258
Other service charges and fees		5,958	6,886	11,896	14,077
Securities activities, net		(99)	-	(99)	(24)
Gain on sale of Tampa branches		-	38,656	-	38,656
Other		1,383	2,878	5,118	6,172
Total non-interest income		14,733	59,646	32,257	82,139
Non-interest expense (1):
Employee compensation and benefits		10,456	13,428	22,146	27,195
Occupancy and equipment		7,159	8,380	14,431	17,502
Advertising and promotion		919	1,378	1,935	2,961
Professional fees		395	637	2,218	1,869
Other		7,126	10,191	12,141	17,636
Total non-interest expense		26,055	34,014	52,871	67,163
(Loss) incomefrom
discontinued operations		(3,947)	41,107	(4,983)	32,421
Provision for income taxes		-	-	1	1
Net (loss) incomefrom
discontinued operations	$	(3,947)	41,107	(4,984)	32,420

(1) Pursuant to applicable accounting rules, all general corporate overhead was allocated to continuing operations.

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Loans Receivable (Impaired Loans) (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Financing Receivable, Impaired [Line Items]
With a related allowance recorded, Recorded Investment	$ 44,982	$ 280,354
With a related allowance recorded, Unpaid Principal Balance	64,971	316,032
With no related allowance recorded, Recorded Investment	278,760	181,982
With no related allowance, Unpaid Principal Balance	446,947	299,001
Recorded Investment	323,742	462,336
Unpaid Principal Balance	511,918	615,033
Related Allowance	2,292	77,247
Commerical Non-Real Estate [Member]
Financing Receivable, Impaired [Line Items]
With a related allowance recorded, Recorded Investment	1,174	17,792
With a related allowance recorded, Unpaid Principal Balance	1,174	17,792
With no related allowance recorded, Recorded Investment	6,933	5,922
With no related allowance, Unpaid Principal Balance	7,059	5,922
Recorded Investment	8,107	23,714
Unpaid Principal Balance	8,233	23,714
Related Allowance	237	15,408
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	225,485	305,807
Unpaid Principal Balance	375,229	420,685
Related Allowance	1,265	52,582
Commercial Real Estate Residential [Member]
Financing Receivable, Impaired [Line Items]
With a related allowance recorded, Recorded Investment	7,544	64,841
With a related allowance recorded, Unpaid Principal Balance	12,411	70,780
With no related allowance recorded, Recorded Investment	56,297	26,735
With no related allowance, Unpaid Principal Balance	122,432	71,759
Related Allowance	67	20,986
Commercial Real Estate Land [Member]
Financing Receivable, Impaired [Line Items]
With a related allowance recorded, Recorded Investment		5,451
With a related allowance recorded, Unpaid Principal Balance		5,451
With no related allowance recorded, Recorded Investment	12,887	9,388
With no related allowance, Unpaid Principal Balance	35,768	30,314
Related Allowance		1,765
Commercial Real Estate Owner Occupied [Member]
Financing Receivable, Impaired [Line Items]
With a related allowance recorded, Recorded Investment		1,715
With a related allowance recorded, Unpaid Principal Balance		1,715
With no related allowance recorded, Recorded Investment	4,549	3,882
With no related allowance, Unpaid Principal Balance	6,523	4,872
Related Allowance		100
Commercial Real Estate Owner Other [Member]
Financing Receivable, Impaired [Line Items]
With a related allowance recorded, Recorded Investment	35,307	130,771
With a related allowance recorded, Unpaid Principal Balance	50,429	149,742
With no related allowance recorded, Recorded Investment	108,901	63,024
With no related allowance, Unpaid Principal Balance	147,666	86,052
Related Allowance	1,198	29,731
Small Business [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	12,267	18,895
Unpaid Principal Balance	13,992	20,952
Related Allowance	790	861
Small Business Real Estate [Member]
Financing Receivable, Impaired [Line Items]
With a related allowance recorded, Recorded Investment		6,499
With a related allowance recorded, Unpaid Principal Balance		6,499
With no related allowance recorded, Recorded Investment	10,566	10,265
With no related allowance, Unpaid Principal Balance	12,167	12,007
Related Allowance		85
Small Business Non-Real Estate [Member]
Financing Receivable, Impaired [Line Items]
With a related allowance recorded, Recorded Investment	957	1,339
With a related allowance recorded, Unpaid Principal Balance	957	1,339
With no related allowance recorded, Recorded Investment	744	792
With no related allowance, Unpaid Principal Balance	868	1,107
Related Allowance	790	776
Consumer [Member]
Financing Receivable, Impaired [Line Items]
With a related allowance recorded, Recorded Investment		15,951
With a related allowance recorded, Unpaid Principal Balance		17,502
With no related allowance recorded, Recorded Investment	18,723	9,719
With no related allowance, Unpaid Principal Balance	22,966	13,246
Recorded Investment	18,723	25,670
Unpaid Principal Balance	22,966	30,748
Related Allowance		1,454
Residential [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	59,160	88,250
Unpaid Principal Balance	91,498	118,934
Related Allowance		6,942
Residential-Interest Only [Member]
Financing Receivable, Impaired [Line Items]
With a related allowance recorded, Recorded Investment		15,441
With a related allowance recorded, Unpaid Principal Balance		20,667
With no related allowance recorded, Recorded Investment	22,085	17,761
With no related allowance, Unpaid Principal Balance	38,244	28,042
Related Allowance		2,982
Residential-Amortizing [Member]
Financing Receivable, Impaired [Line Items]
With a related allowance recorded, Recorded Investment		20,554
With a related allowance recorded, Unpaid Principal Balance		24,545
With no related allowance recorded, Recorded Investment	37,075	34,494
With no related allowance, Unpaid Principal Balance	53,254	45,680
Related Allowance		$ 3,960

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Assets And Liabilities Held For Sale (Schedule Of Discontinued Operations By Income Statement Account) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended				6 Months Ended
	Jun. 30, 2012		Jun. 30, 2011		Jun. 30, 2012		Jun. 30, 2011
Total interest income	$ 7,287		$ 11,167		$ 15,622		$ 23,005
Total interest expense	4,126		3,854		8,293		7,638
Net interest income	3,161		7,313		7,329		15,367
Provision for loan losses	(627)		4,313		(1,392)		11,140
Net interest income after provision for loan losses	3,788		3,000		8,721		4,227
Securities activities, net			(1,500)				(1,500)
Gain on sale of Tampa branches							257,221
Other	12		6		96		19
Total non-interest income	131		(1,052)		338		(757)
Employee compensation and benefits	4,269		6,303		9,528		11,826
Occupancy and equipment	1,691		2,692		3,859		5,736
Advertising and promotion	130		145		283		258
Professional fees	3,239		658		9,436		2,786
Total non-interest expense	12,279		19,654		30,590		35,376
Other	2,126		3,276		4,656		5,874
Net (loss) income from discontinued operations	(3,947)		41,107		(4,984)		32,420
BB&T [Member]
Total interest income	17,924		26,113		38,651		53,780
Total interest expense	3,248		4,242		6,502		8,954
Net interest income	14,676		21,871		32,149		44,826
Provision for loan losses	7,301		6,396		16,518		27,381
Net interest income after provision for loan losses	7,375		15,475		15,631		17,445
Service charges on deposits	7,491		11,226		15,342		23,258
Other service charges and fees	5,958		6,886		11,896		14,077
Securities activities, net	(99)				(99)		(24)
Gain on sale of Tampa branches			38,656				38,656
Other	1,383		2,878		5,118		6,172
Total non-interest income	14,733		59,646		32,257		82,139
Employee compensation and benefits	10,456	[1]	13,428	[1]	22,146	[1]	27,195	[1]
Occupancy and equipment	7,159	[1]	8,380	[1]	14,431	[1]	17,502	[1]
Advertising and promotion	919	[1]	1,378	[1]	1,935	[1]	2,961	[1]
Professional fees	395	[1]	637	[1]	2,218	[1]	1,869	[1]
Total non-interest expense	26,055	[1]	34,014	[1]	52,871	[1]	67,163	[1]
Other	7,126	[1]	10,191	[1]	12,141	[1]	17,636	[1]
(Loss) income from discontinued operations	(3,947)		41,107		(4,983)		32,421
Provision for income taxes					1		1
Net (loss) income from discontinued operations	$ (3,947)		$ 41,107		$ (4,984)		$ 32,420

[1] Pursuant to applicable accounting rules, all general corporate overhead was allocated to continuing operations.

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Assets And Liabilities Held For Sale (Schedule Of Assets Held For Sale) (Details) (USD $)	Jun. 30, 2012	Dec. 31, 2011
Securities available for sale, at fair value	$ 26,000	$ 46,435,000
Tax certificates	5,293,000	46,488,000
Federal Home Loan Bank stock		18,308,000
Loans receivable	355,794,000	2,448,203,000
Accrued interest receivable	1,862,000	18,432,000
Office properties and equipment	2,127,000	139,165,000
Goodwill		13,081,000
Other assets	645,000	8,221,000
Total assets held for sale	2,126,282,000
Total deposits	3,450,529,000	3,280,083,000
Subordinated debentures		22,000,000
Other liabilities	21,718,000	55,848,000
Total other liabilities held for sale	58,347,000
Assets Held-for-sale [Member]
Cash and due from banks	59,431,000
Securities available for sale, at fair value	33,550,000
Tax certificates	17,736,000
Federal Home Loan Bank stock	8,328,000
Loans receivable	1,833,738,000
Accrued interest receivable	11,347,000
Office properties and equipment	129,734,000
Goodwill	13,081,000
Other assets	19,337,000
Total assets held for sale	2,126,282,000
Liabilities Held For Sale [Member]
Interest free checking	928,527,000
Insured money fund savings	699,179,000
Now accounts	1,114,360,000
Savings accounts	424,848,000
Total deposits	3,166,914,000
Certificate accounts	283,615,000
Total deposits held for sale	3,450,529,000
Subordinated debentures	22,000,000
Other liabilities	36,347,000
Total other liabilities held for sale	58,347,000
Total liabilities held for sale	$ 3,508,876,000

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Loans Receivable (Average Recorded Investment And Interest Income Recognized On Impaired Loans) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Financing Receivable, Impaired [Line Items]
With an allowance recorded, Average Recorded Investment	$ 45,642	$ 272,788	$ 47,898	$ 273,747
With an allowance recorded, Interest Income Recognized	324	1,422	653	2,167
With no related allowance recorded, Average Recorded Investment	290,138	209,003	308,584	211,894
With no related allowance recorded, Interest Income Recognized	1,038	883	2,114	1,513
Average Recorded Investment	335,780	481,791	356,482	485,641
Interest Income Recognized	1,362	2,305	2,767	3,680
Commerical Non-Real Estate [Member]
Financing Receivable, Impaired [Line Items]
With an allowance recorded, Average Recorded Investment	1,187	15,404	1,183	15,872
With an allowance recorded, Interest Income Recognized		168		184
With no related allowance recorded, Average Recorded Investment	6,954	11,746	6,413	8,329
With no related allowance recorded, Interest Income Recognized	62	2	80	8
Average Recorded Investment	8,141	27,150	7,596	24,201
Interest Income Recognized	62	170	80	192
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment	234,288	322,747	257,129	327,994
Interest Income Recognized	1,067	1,863	2,223	2,940
Commercial Real Estate Residential [Member]
Financing Receivable, Impaired [Line Items]
With an allowance recorded, Average Recorded Investment	8,136	91,127	10,309	87,995
With an allowance recorded, Interest Income Recognized	73	841	150	1,251
With no related allowance recorded, Average Recorded Investment	59,357	21,203	68,429	29,080
With no related allowance recorded, Interest Income Recognized	139	40	365	110
Commercial Real Estate Land [Member]
Financing Receivable, Impaired [Line Items]
With an allowance recorded, Average Recorded Investment		5,369		8,649
With an allowance recorded, Interest Income Recognized		25		50
With no related allowance recorded, Average Recorded Investment	13,301	16,638	14,165	15,771
Commercial Real Estate Owner Occupied [Member]
Financing Receivable, Impaired [Line Items]
With an allowance recorded, Average Recorded Investment		3,028		2,583
With no related allowance recorded, Average Recorded Investment	5,618	5,018	5,671	4,652
With no related allowance recorded, Interest Income Recognized	22	33	36	69
Commercial Real Estate Owner Other [Member]
Financing Receivable, Impaired [Line Items]
With an allowance recorded, Average Recorded Investment	35,361	100,280	35,447	98,751
With an allowance recorded, Interest Income Recognized	251	388	503	682
With no related allowance recorded, Average Recorded Investment	112,515	80,084	123,108	80,513
With no related allowance recorded, Interest Income Recognized	582	536	1,169	778
Small Business [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment	12,369	20,108	12,412	20,165
Interest Income Recognized	119	129	237	266
Small Business Real Estate [Member]
Financing Receivable, Impaired [Line Items]
With an allowance recorded, Average Recorded Investment		8,209		6,340
With no related allowance recorded, Average Recorded Investment	10,659	9,334	10,693	11,465
With no related allowance recorded, Interest Income Recognized	109	122	215	252
Small Business Non-Real Estate [Member]
Financing Receivable, Impaired [Line Items]
With an allowance recorded, Average Recorded Investment	958	1,941	959	1,887
With no related allowance recorded, Average Recorded Investment	752	624	760	473
With no related allowance recorded, Interest Income Recognized	10	7	22	14
Consumer [Member]
Financing Receivable, Impaired [Line Items]
With an allowance recorded, Average Recorded Investment		17,675		13,026
With no related allowance recorded, Average Recorded Investment	19,140	9,668	19,340	14,122
With no related allowance recorded, Interest Income Recognized	82	111	163	222
Average Recorded Investment	19,140	27,343	19,340	27,148
Interest Income Recognized	82	111	163	222
Residential [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment	61,842	84,443	60,005	86,133
Interest Income Recognized	32	32	64	60
Residential-Interest Only [Member]
Financing Receivable, Impaired [Line Items]
With an allowance recorded, Average Recorded Investment		14,413		20,210
With no related allowance recorded, Average Recorded Investment	22,812	21,740	21,128	16,969
Residential-Amortizing [Member]
Financing Receivable, Impaired [Line Items]
With an allowance recorded, Average Recorded Investment		15,342		18,434
With no related allowance recorded, Average Recorded Investment	39,030	32,948	38,877	30,520
With no related allowance recorded, Interest Income Recognized	$ 32	$ 32	$ 64	$ 60

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Liquidity Considerations (Details) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2012
Cash payment received	$ 6.4
Preferred Membership Percentage	5.00%
BBX Capital Corporation [Member]
Cash	4.0
Current liabilities	5.8
Net cash proceeds	29.0
BBX Capital Asset Management, LLC [Member]
Cash	81.0
Cash payment received	22.5
Florida Asset Resolution Group, LLC [Member]
Cash	$ 37.0

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Fair Value Measurement (Narrative) (Details) (USD $)	Jun. 30, 2012	Dec. 31, 2011
Fair value		$ 46,435,000
Equity Securities [Member]
Fair value	26,000	1,327,000
Publicly Traded Trust Preferred Securities [Member]
Fair value	76,600,000
Privately Held Trust Preferred Securities [Member]
Fair value	$ 268,500,000

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Presentation Of Interim Financial Statements

6 Months Ended

Jun. 30, 2012

Presentation Of Interim Financial Statements [Abstract]

Presentation Of Interim Financial Statements

1.Presentation of Interim Financial Statements

Basis of Financial Statement Presentation –BBX Capital Corporation (formerly BankAtlantic Bancorp, Inc.) and its subsidiaries may also be referred to as “the Company”, “we”, “us,” or “our” in the notes to the consolidated financial statements.BBX Capital Corporation (the “Parent Company” or “BBX”) was organized under the laws of the State of Florida in 1994. BBX’s principal asset until July 31, 2012 was its investment in BankAtlantic and its subsidiaries (“BankAtlantic”).BankAtlantic, a federal savings bank headquartered in Fort Lauderdale, Florida, provided traditional retail banking services and a wide range of commercial banking products and related financial services through a broad network of community branches located in Florida.On July 31, 2012, BBX completed its previously announced sale to BB&T Corporation (“BB&T”) of all of the issued and outstanding shares of capital stock of BankAtlantic (the stock sale and related transactions described herein are collectively referred to as the “Transaction”). In connection with the closing of the Transaction with BB&T, BBX has requested from the Federal Reserve deregistration as a savings and loan holding company and pending approval by the Federal Reserve, BBX expects upon such deregistration to no longer be subject to regulation by the Federal Reserve or to be subject to restrictions applicable to a savings and loan holding company.

On November 1, 2011, the Company entered into a definitive agreement to sell BankAtlantic to BB&T, which agreement was amended on March 13, 2012 (“the Agreement”).The Agreement was amended to, among other things, provide for the assumption by BB&T of the Company’s $285.4 million in principal amount of outstanding trust preferred securities (“TruPS”) obligations.At the closing of the Transaction, BB&T assumed the obligations with respect to the Company’s outstanding TruPS, and the Company paid BB&T approximately $51.3 million, representing all accrued and unpaid interest on the TruPS through closing.The Company also paid approximately $2.3 million for certain legal fees and expenses with respect to the now resolved TruPS-related litigation brought in the Delaware Chancery Court against the Company by holders of the TruPS and certain trustees.The Company funded the TruPS accrued interest and the TruPS related legal fees and expenses from proceeds received in the Transaction.

Under the terms of the Agreement, prior to the closing of the Transaction, BankAtlantic formed two subsidiaries, BBX Capital Asset Management, LLC (“CAM”) and Florida Asset Resolution Group, LLC (“FAR”).BankAtlantic contributed to FAR certain performing and non-performing loans, tax certificates and real estate owned that had an aggregate carrying value on BankAtlantic’s balance sheet of approximately $358 million as of June 30, 2012.FAR assumed all liabilities related to these assets.BankAtlantic also contributed approximately $37 million in cash to FAR and thereafter distributed all of the membership interests in FAR to the Company.At the closing of the Transaction, the Company transferred to BB&T 95% of the outstanding preferred membership interests in FAR in connection with BB&T’s assumption of the Company’s outstanding TruPS obligations, as described in further detail below. The Company continues to hold the remaining 5% of FAR’s preferred membership interests. Under the terms of the Amended and Restated Limited Liability Company agreement of FAR, which was entered into by the Company and BB&T at the closing, BB&T will hold its 95% preferred interest in the net cash flows of FAR until such time as it has recovered $285 million in preference amount plus a priority return of LIBOR + 200 basis points per annum on any unpaid preference amount. At that time, BB&T’s interest in FAR will terminate, and the Company will thereafter be entitled to any and all residual proceeds from FAR through its ownership of FAR’s Class R units. It is expected that the assets (other than cash) contributed to FAR will be monetized over a period of seven years, or longer provided BB&T’s preference amount is repaid within such seven-year period. The Company entered into an incremental $35 million guarantee in BB&T’s favor to further assure BB&T’s recovery of the $285 million preference amount within seven years.

Prior to the closing of the Transaction, BankAtlantic also contributed to CAM, certain non-performing commercial loans, commercial real estate owned and previously written-off assets that had an aggregate carrying value on BankAtlantic’s balance sheet of $126 million as of June 30, 2012.CAM assumed all liabilities related to these assets.BankAtlantic also contributed approximately $81 million in cash to CAM.Prior to the closing of the Transaction, BankAtlantic distributed all of the membership interests in CAM to the Company.CAM remains a wholly-owned subsidiary of the Company.

Pursuant to the Agreement, the cash consideration exchanged by the parties at the closing of the Transaction in connection with the sale of BankAtlantic’s stock was based on the deposit premium and the net asset value of BankAtlantic, in each case as calculated pursuant to the terms of the Agreement, including, with respect to the net asset value of BankAtlantic, after giving effect to the asset contributions and membership interest distributions by BankAtlantic.Based on financial information as of June 30, 2012 and the preliminary calculations of the deposit premium (which was estimated to be $315.9 million) and the net asset value of BankAtlantic, the Company received from BB&T a cash payment related to the sale of BankAtlantic’s stock of approximately $6.4 million. However, the deposit premium and net asset value of BankAtlantic as well as the resulting cash payment made to the Company are all estimates based on available financial information as of June 30, 2012. Under the terms of the Agreement, these amounts are subject to adjustment post-closing as all relevant financial information is reviewed and approved by the parties, and the cash payment made to the Company may be less than the amount indicated above or the Company may be required to make a net cash payment to BB&T. The Company expects to recognize a $307 million gain in connection with the Transaction, subject to adjustment based on the final balance sheet reconciliation procedures described in the preceding sentence.

Based on the probable sale of BankAtlantic to BB&T, the Company transferred the assets and liabilities anticipated to be transferred to BB&T to “Assets held for sale”, “Deposits held for sale” and “Other liabilities held for sale” as of March 31, 2012.As such, the Company presented the assets and liabilities transferred to BB&T, consisting of all of BankAtlantic’s assets and liabilities less the assets and liabilities to be retained in CAM and FAR, as “Assets held for sale” and “Liabilities held for sale” in its unaudited Consolidated Statement of Financial Condition as of June 30, 2012.While the majority of cash and interest bearing deposits in other banks were transferred to BB&T upon closing of the Transaction, with the exception of cash at BankAtlantic’s branches and automated teller machines, the cash and interest bearing deposits transferred to BB&T are not presented as “Assets held for sale” as of June 30, 2012. The assets and liabilities transferred to BB&T were measured as of June 30, 2012 on a combined basis as a single disposal group at the lower of cost or fair value less costs to sell. Accordingly, the assets and liabilities held for sale are presented in the Company’s unaudited Consolidated Statementof Financial Condition as of June 30, 2012 based on their carrying value as the Company recorded a gain associated with the Transaction.

BankAtlantic’s community banking, investment, capital services and tax certificate reporting units are reflected as “Discontinued Operations” in the Company’s unaudited Consolidated Statements of Operations for all periods presented.The Company is continuing to service and manage and may originate commercial loans following the sale of BankAtlantic to BB&T and as a result, the results of operations for the Commercial Lending reporting unit are included in the Company’s unaudited Consolidated Statement of Operations as continuing operations for all periods presented.The assets and liabilities transferred to BB&T were not reclassified to assets and liabilities held for sale in the Company’s Consolidated Statement of Financial Condition as of December 31, 2011.The Consolidated Statement of Stockholders’ (Deficit) Equity, Consolidated Statements of Comprehensive (Loss) income and Consolidated Statement of Cash Flows remain unchanged from prior period historical presentation for all periods presented.Additionally, pursuant to the Agreement, the Company agreed to sell to BB&T certain assets and liabilities associated with its Commercial Lending reporting unit and these assets and liabilities are included in assets and liabilities held for sale in the Company’s Statement of Financial Condition as of June 30, 2012.Similarly, the Company will retain certain assets and liabilities associated with the disposed reporting units and these assets and liabilities are included in the Company’s Consolidated Statement of Financial Condition in their respective line items as of June 30, 2012.

The Company’s consolidated financial statements have been prepared on a going concern basis, which reflects the realization of assets and the repayments of liabilities in the normal course of business.

Included in cash and due from banks in the Company’s Consolidated Statement of Financial Condition as of June 30, 2012 and December 31, 2011 was $0.5 million and $5.7 million, respectively, of time deposits with other banks. These time deposits had original maturities of greater than 90 days and are not considered cash equivalents.

All significant inter-company balances and transactions have been eliminated in consolidation.Throughout this document, the term “fair value” in each case is an estimate of fair value as discussed herein.

In management's opinion, the accompanying unaudited consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) as are necessary for a fair statement of the Company's consolidated financial condition at June 30, 2012, the consolidated results of operations and consolidated statement of comprehensive (loss) income for the three and six months ended June 30, 2012 and 2011, and the consolidated stockholders' (deficit) equity and cash flows for the six months ended June 30, 2012 and 2011.The results of operations for the three and six months ended June 30, 2012 are not necessarily indicative of results of operations that may be expected for the year ended December 31, 2012.The consolidated financial statements and related notes are presented as permitted by Form 10-Q and should be read in conjunction with the consolidated financial statements appearing in the Company's Annual Report on Form 10-K for the year ended December 31, 2011.

Certain amounts for prior years have been reclassified to conform to the revised financial statement presentation for 2012.

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Fair Value Measurement (Schedule Of Fair Value Measured On Recurring Basis) (Details) (USD $)	Jun. 30, 2012	Dec. 31, 2011
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis, by type		$ 46,435,000
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis, by type		827,000
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis, by type		45,608,000
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis, by type
Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis, by type		13,418,000
Mortgage-Backed Securities [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis, by type		13,418,000
Mortgage-Backed Securities [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis, by type
REMICs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis, by type		31,690,000
REMICs [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis, by type		31,690,000
REMICs [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis, by type
Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis, by type	26,000	1,327,000
Equity Securities [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis, by type		827,000
Equity Securities [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis, by type		500,000
Equity Securities [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis, by type

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Loans Receivable (Recorded Investment (Unpaid Principal Balance Less Charge-Offs And Deferred Fees) Of Non-Accrual Loans Receivable And Loans Held For Sale) (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Total recorded investment of non-accrual loans, by type	$ 248,224	$ 345,299
Commerical Non-Real Estate [Member]
Total recorded investment of non-accrual loans, by type	5,607	19,172
Commercial Real Estate Residential [Member]
Total recorded investment of non-accrual loans, by type	63,381	71,719
Commercial Real Estate Land [Member]
Total recorded investment of non-accrual loans, by type	12,888	14,839
Commercial Real Estate Owner Occupied [Member]
Total recorded investment of non-accrual loans, by type	3,140	4,168
Commercial Real Estate Owner Other [Member]
Total recorded investment of non-accrual loans, by type	91,590	123,396
Small Business Real Estate [Member]
Total recorded investment of non-accrual loans, by type	4,887	10,265
Small Business Non-Real Estate [Member]
Total recorded investment of non-accrual loans, by type	1,380	1,751
Consumer [Member]
Total recorded investment of non-accrual loans, by type	8,261	14,134
Residential-Interest Only [Member]
Total recorded investment of non-accrual loans, by type	22,085	33,202
Residential-Amortizing [Member]
Total recorded investment of non-accrual loans, by type	$ 35,005	$ 52,653

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Related Parties (Schedule Of Share Based Compensation Options And Non-Vested Restricted Stock Outstanding) (Details) (USD $)	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011	Dec. 31, 2010
Related Party Transaction [Line Items]
Non-vested restricted stock Class A Common Stock	137,400	211,900	219,800	313,780
BFC Financial Corporation [Member]
Related Party Transaction [Line Items]
Options outstanding Class A Common Stock	5,667
Options outstanding Weighted Average Price	333.85
Non-vested restricted stock Class A Common Stock	7,500

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Consolidated Statements Of Financial Condition (USD $)	Jun. 30, 2012	Dec. 31, 2011
ASSETS
Cash and interest bearing deposits in other banks	$ 1,193,958,000	$ 770,292,000
Securities available for sale, at fair value	26,000	46,435,000
Tax certificates, net of allowance of $3,519 and $7,488	5,293,000	46,488,000
Loans held for sale	47,029,000	55,601,000
Loans receivable, net of allowance for loan losses of $7,153 and $129,887	355,794,000	2,448,203,000
Accrued interest receivable	1,862,000	18,432,000
Real estate owned	86,195,000	87,174,000
Investments in unconsolidated companies	10,345,000	10,106,000
Office properties and equipment, net	2,127,000	139,165,000
Other assets	645,000	8,221,000
Assets held for sale	2,126,282,000
Federal Home Loan Bank ("FHLB") stock, at cost which approximates fair value		18,308,000
Real estate held for sale	2,374,000	3,898,000
Goodwill		13,081,000
Prepaid FDIC deposit insurance assessment		12,715,000
Total assets	3,831,930,000	3,678,119,000
Deposits
Interest bearing deposits		2,433,226,000
Non-interest bearing deposits		846,857,000
Deposits held for sale	3,450,529,000
Total deposits	3,450,529,000	3,280,083,000
Subordinated debentures		22,000,000
Junior subordinated debentures	345,092,000	337,114,000
Other liabilities	21,718,000	55,848,000
Other liabilities held for sale	58,347,000
Total liabilities	3,875,686,000	3,695,045,000
Commitments and contingencies (Note 10)
(Deficit) Equity:
Preferred stock, $.01 par value, 10,000,000 shares authorized; none issued and outstanding
Additional paid-in capital	330,263,000	329,995,000
Accumulated deficit	(353,207,000)	(326,692,000)
Accumulated other comprehensive loss	(20,969,000)	(20,385,000)
Total deficit	(43,756,000)	(16,926,000)
Total liabilities and deficit	3,831,930,000	3,678,119,000
Class A Common Stock [Member]
(Deficit) Equity:
Common Stock	155,000	154,000
Class B Common Stock [Member]
(Deficit) Equity:
Common Stock	$ 2,000	$ 2,000

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Loans Receivable (Risk Grades For Commercial And Small Business Loans Including Loans Held For Sale) (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Commerical Non-Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	$ 28,167	$ 118,145
Commerical Non-Real Estate [Member] | Grades 1 to 7 [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	188	71,798
Commerical Non-Real Estate [Member] | Grade 10 [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	2,068	6,021
Commerical Non-Real Estate [Member] | Grade 11 [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	25,911	40,326
Commercial Real Estate Residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	64,918	108,767
Commercial Real Estate Residential [Member] | Grades 1 to 7 [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade		16,085
Commercial Real Estate Residential [Member] | Grade 10 [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	1,538	1,375
Commercial Real Estate Residential [Member] | Grade 11 [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	63,380	91,307
Commercial Real Estate Land [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	12,888	33,590
Commercial Real Estate Land [Member] | Grades 1 to 7 [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade		18,752
Commercial Real Estate Land [Member] | Grade 11 [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	12,888	14,838
Commercial Real Estate Owner Occupied [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	9,382	88,141
Commercial Real Estate Owner Occupied [Member] | Grades 1 to 7 [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	5,285	82,251
Commercial Real Estate Owner Occupied [Member] | Grade 11 [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	4,097	5,890
Commercial Real Estate Owner Other [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	177,234	484,707
Commercial Real Estate Owner Other [Member] | Grades 1 to 7 [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	25,945	250,238
Commercial Real Estate Owner Other [Member] | Grade 10 [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	21,220	50,208
Commercial Real Estate Owner Other [Member] | Grade 11 [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	130,069	184,261
Small Business Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	20,112	184,919
Small Business Real Estate [Member] | Grades 1 to 7 [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade		157,237
Small Business Real Estate [Member] | Grade 10 [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	2,213	2,837
Small Business Real Estate [Member] | Grade 11 [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	17,899	24,845
Small Business Non-Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	11,755	99,725
Small Business Non-Real Estate [Member] | Grades 1 to 7 [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	695	85,942
Small Business Non-Real Estate [Member] | Grade 10 [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	4,180	4,306
Small Business Non-Real Estate [Member] | Grade 11 [Member]
Financing Receivable, Recorded Investment [Line Items]
Commercial and small business loans, by category and risk grade	$ 6,880	$ 9,477

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Consolidated Statements Of (Deficit) Equity (USD $) In Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	(Accumulated Deficit) [Member]	Accumulated Other Comprehensive Loss [Member]	BBX Capital Corporation (Deficit) Equity [Member]	Non-Controlling Interest [Member]	Total
BALANCE at Dec. 31, 2010	$ 125	$ 317,863	$ (297,615)	$ (6,088)	$ 14,285	$ 458	$ 14,743
Net loss			(71)		(71)	585	514
Change in other comprehensive loss				(258)	(258)		(258)
Non-controlling interest distributions						(516)	(516)
Issuance of Class A Common Stock	32	10,969			11,001		11,001
Share based compensation expense		751			751		751
BALANCE at Jun. 30, 2011	157	329,583	(297,686)	(6,346)	25,708	527	26,235
BALANCE at Dec. 31, 2011	156	329,995	(326,692)	(20,385)	(16,926)		(16,926)
Net loss			(26,515)		(26,515)		(26,515)
Change in other comprehensive loss				(584)	(584)		(584)
Share based compensation expense	1	268			269		269
BALANCE at Jun. 30, 2012	$ 157	$ 330,263	$ (353,207)	$ (20,969)	$ (43,756)		$ (43,756)

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Fair Value Measurement (Schedule Of Financial Disclosures At Fair Value) (Details) (USD $)	Jun. 30, 2012	Dec. 31, 2011
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and interest bearing deposits in other banks	$ 1,193,958,000	$ 770,292,000
Securities available for sale	26,000	46,435,000
Tax certificates	5,293,000	46,488,000
Loans receivable including loans held for sale, net	402,823,000
Junior subordinated debentures	345,092,000	337,114,000
Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and interest bearing deposits in other banks	1,193,958,000
Securities available for sale	26,000
Tax certificates	5,346,000
Loans receivable including loans held for sale, net	405,300,000
Junior subordinated debentures	307,625,000
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and interest bearing deposits in other banks	1,193,958,000
Securities available for sale	26,000
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Junior subordinated debentures	307,625,000
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Tax certificates	5,346,000
Loans receivable including loans held for sale, net	$ 405,300,000

XML

Loans Receivable (Tables)

6 Months Ended

Jun. 30, 2012

Loans Receivable [Abstract]

Composition Of Loan Portfolio

		June 30,	December 31,
		2012	2011
Commercial non-real estate	$	28,167	118,145
Commercial real estate:
Residential		60,894	104,593
Land		3,496	24,202
Owner occupied		8,100	86,809
Other		161,180	464,902
Small Business:
Real estate		19,963	184,919
Non-real estate		11,755	99,835
Consumer:
Consumer - home equity		19,958	545,908
Consumer other		30	10,704
Deposit overdrafts		-	1,971
Residential:
Residential-interest only		18,077	375,498
Residential-amortizing		31,065	558,026
Total gross loans		362,685	2,575,512
Adjustments:
Premiums, discounts and net deferred fees		262	2,578
Allowance for loanlosses		(7,153)	(129,887)
Loans receivable -- net	$	355,794	2,448,203
Loans held for sale	$	47,029	55,601

Recorded Investment (Unpaid Principal Balance Less Charge-Offs And Deferred Fees) Of Non-Accrual Loans Receivable And Loans Held For Sale

		June 30,	December 31,
Loan Class		2012	2011
Commercial non-real estate	$	5,607	19,172
Commercial real estate:
Residential		63,381	71,719
Land		12,888	14,839
Owner occupied		3,140	4,168
Other		91,590	123,396
Small business:
Real estate		4,887	10,265
Non-real estate		1,380	1,751
Consumer		8,261	14,134
Residential:
Interest only		22,085	33,202
Amortizing		35,005	52,653
Total nonaccrual loans	$	248,224	345,299

Age Analysis Of The Past Due Recorded Investment In Loans Receivable And Loans Held For Sale

							Total
		31-59 Days	60-89 Days	90 Days	Total		Loans
June 30, 2012		Past Due	Past Due	or More	Past Due	Current	Receivable
Commercial non-real estate	$	2,500	1,093	1,381	4,974	23,193	28,167
Commercial real estate:
Residential		-	-	46,328	46,328	18,590	64,918
Land		-	-	12,888	12,888	-	12,888
Owner occupied		-	138	3,002	3,140	6,242	9,382
Other		-	-	42,149	42,149	135,085	177,234
Small business:
Real estate		893	-	4,127	5,020	15,092	20,112
Non-real estate		20	-	-	20	11,735	11,755
Consumer		719	1,134	8,261	10,114	10,003	20,117
Residential:
Residential-interest only		397	-	21,779	22,176	1,286	23,462
Residential-amortizing		1,358	779	32,292	34,429	7,512	41,941
Total	$	5,887	3,144	172,207	181,238	228,738	409,976

							Total
		31-59 Days	60-89 Days	90 Days	Total		Loans
December 31, 2011		Past Due	Past Due	or More (1)	Past Due	Current	Receivable
Commercial non-real estate	$	-	2,248	13,292	15,540	102,605	118,145
Commercial real estate:
Residential		-	-	44,633	44,633	64,134	108,767
Land		681	-	14,839	15,520	18,070	33,590
Owner occupied		2,008	-	4,031	6,039	82,102	88,141
Other		-	5,467	47,841	53,308	431,399	484,707
Small business:
Real estate		2,089	372	9,449	11,910	173,009	184,919
Non-real estate		-	462	76	538	99,187	99,725
Consumer		5,339	3,996	14,134	23,469	538,569	562,038
Residential:
Residential-interest only		2,656	3,488	32,317	38,461	343,958	382,419
Residential-amortizing		3,968	4,513	48,189	56,670	514,570	571,240
Total	$	16,741	20,546	228,801	266,088	2,367,603	2,633,691

(1)Includes an $80,000 commercial loan that was past due greater than 90 days and still accruing.

Activity In The Allowance For Loan Losses By Portfolio

The activity in the allowance for loan losses by portfolio segment for the three months ended June 30, 2012 was as follows (in thousands):

			Commercial
		Commercial	Real	Small
		Non-Real Estate	Estate	Business	Consumer	Residential	Total
Allowance for Loan Losses:
Beginning balance	$	1,359	4,212	1,020	366	210	7,167
Charge-off :		-	(1,778)	(748)	(849)	(1,547)	(4,922)
Recoveries :		386	1,631	128	236	281	2,662
Provision :		(945)	318	-	-	-	(627)
Discontinued operations
provision:		-	-	926	654	1,293	2,873
Transfer to assets held for sale:		-	-	-	-	-	-
Ending balance	$	800	4,383	1,326	407	237	7,153
Ending balance individually
evaluated for impairment	$	237	1,265	790	-	-	2,292
Ending balance collectively
evaluated for impairment		563	3,118	536	407	237	4,861
Total	$	800	4,383	1,326	407	237	7,153
Loans receivable:
Ending balance individually
evaluated for impairment	$	7,361	194,168	957	7,907	40,331	250,724
Ending balance collectively
evaluated for impairment	$	20,806	39,502	30,761	12,081	8,811	111,961
Total	$	28,167	233,670	31,718	19,988	49,142	362,685
Purchases of loans	$	-	-	-	-	-	-
Proceeds from loan sales	$	-	-	-	-	-	-
Transfer to loans held for sale	$	-	-	-	-	-	-

The activity in the allowance for loan losses by portfolio segment for the three months ended June 30, 2011 was as follows (in thousands):

			Commercial
		Commercial	Real	Small
		Non-Real Estate	Estate	Business	Consumer	Residential	Total
Allowance for Loan Losses:
Beginning balance	$	10,708	79,142	10,125	27,511	27,565	155,051
Charge-offs:		(124)	(15,100)	(2,010)	(6,379)	(5,767)	(29,380)
Recoveries :		57	75	203	492	435	1,262
Provision :		376	3,937	-	-	-	4,313
Discontinued operations
provision:		-	-	1,535	3,375	1,487	6,397
Ending balance	$	11,017	68,054	9,853	24,999	23,720	137,643
Ending balance individually
evaluated for impairment	$	9,618	47,638	1,595	1,671	4,555	65,077
Ending balance collectively
evaluated for impairment		1,399	20,416	8,258	23,328	19,165	72,566
Total	$	11,017	68,054	9,853	24,999	23,720	137,643
Loans receivable:
Ending balance individually
evaluated for impairment	$	34,569	285,325	10,370	24,576	57,740	412,580
Ending balance collectively
evaluated for impairment	$	90,261	466,287	282,388	568,561	982,126	2,389,623
Total	$	124,830	751,612	292,758	593,137	1,039,866	2,802,203
Purchases of loans	$	-	-	-	-	9,816	9,816
Proceeds from loan sales	$	-	24,693	-	-	4,983	29,676
Transfer to loans held for sale	$	-	28,444	-	-	-	28,444

The activity in the allowance for loan losses by portfolio segment for the six months ended June 30, 2012 was as follows (in thousands):

			Commercial
		Commercial	Real	Small
		Non-Real Estate	Estate	Business	Consumer	Residential	Total
Allowance for Loan Losses:
Beginning balance	$	16,407	67,054	7,168	22,554	16,704	129,887
Charge-off :		(14,615)	(53,281)	(2,372)	(7,413)	(11,756)	(89,437)
Recoveries :		440	1,631	270	1,031	1,277	4,649
Provision :		465	(1,857)	-	-	-	(1,392)
Transfer to held for sale:		(1,897)	(9,164)	(4,454)	(20,639)	(12,491)	(48,645)
Discontinued operations
Provision:		-	-	714	4,874	6,503	12,091
Ending balance	$	800	4,383	1,326	407	237	7,153
Purchases of loans	$	-	-	-	-	-	-
Proceeds from loan sales	$	-	1,000	-		-	1,000
Transfer to held for sale	$	-	16,140	-	-	-	16,140

The activity in the allowance for loan losses by portfolio segment for the six months ended June 30, 2011 was as follows (in thousands):

			Commercial
		Commercial	Real	Small
		Non-Real Estate	Estate	Business	Consumer	Residential	Total
Allowance for Loan Losses:
Beginning balance	$	10,786	83,859	11,514	32,043	23,937	162,139
Charge-off :		(588)	(26,152)	(4,621)	(14,193)	(13,778)	(59,332)
Recoveries :		848	793	513	900	566	3,620
Provision :		(29)	11,169	-	-	-	11,140
Transfer to held for sale:		-	(1,615)	-	-	(5,691)	(7,306)
Discontinued operations
provision:		-	-	2,447	6,249	18,686	27,382
Ending balance	$	11,017	68,054	9,853	24,999	23,720	137,643
Purchases of loans	$	-	-	-	-	13,680	13,680
Proceeds from loan sales	$	-	27,793	-		12,601	40,394
Transfer to held for sale	$	-	30,894	-	-	25,072	55,966

Impaired Loans

Impaired loans as of June 30, 2012 and December 31, 2011 were as follows (in thousands):

		As of June 30, 2012			As of December 31, 2011
			Unpaid			Unpaid
		Recorded	Principal	Related	Recorded	Principal	Related
		Investment	Balance	Allowance	Investment	Balance	Allowance
With a related allowance recorded:
Commercial non-real estate	$	1,174	1,174	237	17,792	17,792	15,408
Commercial real estate:
Residential		7,544	12,411	67	64,841	70,780	20,986
Land		-	-	-	5,451	5,451	1,765
Owner occupied		-	-	-	1,715	1,715	100
Other		35,307	50,429	1,198	130,771	149,742	29,731
Small business:
Real estate		-	-	-	6,499	6,499	85
Non-real estate		957	957	790	1,339	1,339	776
Consumer		-	-	-	15,951	17,502	1,454
Residential:
Residential-interest only		-	-	-	15,441	20,667	2,982
Residential-amortizing		-	-	-	20,554	24,545	3,960
Total with allowance recorded	$	44,982	64,971	2,292	280,354	316,032	77,247
With no related allowance recorded:
Commercial non-real estate	$	6,933	7,059	-	5,922	5,922	-
Commercial real estate:
Residential		56,297	122,432	-	26,735	71,759	-
Land		12,887	35,768	-	9,388	30,314	-
Owner occupied		4,549	6,523	-	3,882	4,872	-
Other		108,901	147,666	-	63,024	86,052	-
Small business:
Real estate		10,566	12,167	-	10,265	12,007	-
Non-real estate		744	868	-	792	1,107	-
Consumer		18,723	22,966	-	9,719	13,246	-
Residential:
Residential-interest only		22,085	38,244	-	17,761	28,042	-
Residential-amortizing		37,075	53,254	-	34,494	45,680	-
Total with no allowance recorded	$	278,760	446,947	-	181,982	299,001	-
Commercial non-real estate	$	8,107	8,233	237	23,714	23,714	15,408
Commercial real estate		225,485	375,229	1,265	305,807	420,685	52,582
Small business		12,267	13,992	790	18,895	20,952	861
Consumer		18,723	22,966	-	25,670	30,748	1,454
Residential		59,160	91,498	-	88,250	118,934	6,942
Total	$	323,742	511,918	2,292	462,336	615,033	77,247

Average Recorded Investment And Interest Income Recognized On Impaired Loans

Average recorded investment and interest income recognized on impaired loans as of June 30, 2012 were (in thousands):

		For the Three Months Ended		For the Six Months Ended
		June 30, 2012		June 30, 2012
		Average Recorded	Interest Income	Average Recorded	Interest Income
		Investment	Recognized	Investment	Recognized
With an allowance recorded:
Commercial non-real estate	$	1,187	-	1,183	-
Commercial real estate:
Residential		8,136	73	10,309	150
Land		-	-
Owner occupied		-	-
Other		35,361	251	35,447	503
Small business:
Real estate		-	-	-	-
Non-real estate		958	-	959	-
Consumer		-	-	-	-
Residential:
Residential-interest only		-	-	-	-
Residential-amortizing		-	-	-	-
Total with allowance recorded	$	45,642	324	47,898	653
With no related allowance recorded:
Commercial non-real estate	$	6,954	62	6,413	80
Commercial real estate:
Residential		59,357	139	68,429	365
Land		13,301	-	14,165	-
Owner occupied		5,618	22	5,671	36
Other		112,515	582	123,108	1,169
Small business:
Real estate		10,659	109	10,693	215
Non-real estate		752	10	760	22
Consumer		19,140	82	19,340	163
Residential:
Residential-interest only		22,812	-	21,128	-
Residential-amortizing		39,030	32	38,877	64
Total with no allowance recorded	$	290,138	1,038	308,584	2,114
Commercial non-real estate	$	8,141	62	7,596	80
Commercial real estate		234,288	1,067	257,129	2,223
Small business		12,369	119	12,412	237
Consumer		19,140	82	19,340	163
Residential		61,842	32	60,005	64
Total	$	335,780	1,362	356,482	2,767

Average recorded investment and interest income recognized on impaired loans as of June 30, 2011 were (in thousands):

		For the Three Months Ended		For the Six Months Ended
		June 30, 2011		June 30, 2011
		Average Recorded	Interest Income	Average Recorded	Interest Income
		Investment	Recognized	Investment	Recognized
With an allowance recorded:
Commercial non-real estate	$	15,404	168	15,872	184
Commercial real estate:
Residential		91,127	841	87,995	1,251
Land		5,369	25	8,649	50
Owner occupied		3,028	-	2,583	-
Other		100,280	388	98,751	682
Small business:
Real estate		8,209	-	6,340	-
Non-real estate		1,941	-	1,887	-
Consumer		17,675	-	13,026	-
Residential:
Residential-interest only		14,413	-	20,210	-
Residential-amortizing		15,342	-	18,434	-
Total with allowance recorded	$	272,788	1,422	273,747	2,167
With no related allowance recorded:
Commercial non-real estate	$	11,746	2	8,329	8
Commercial real estate:
Residential		21,203	40	29,080	110
Land		16,638	-	15,771	-
Owner occupied		5,018	33	4,652	69
Other		80,084	536	80,513	778
Small business:
Real estate		9,334	122	11,465	252
Non-real estate		624	7	473	14
Consumer		9,668	111	14,122	222
Residential:
Residential-interest only		21,740	-	16,969	-
Residential-amortizing		32,948	32	30,520	60
Total with no allowance recorded	$	209,003	883	211,894	1,513
Commercial non-real estate	$	27,150	170	24,201	192
Commercial real estate		322,747	1,863	327,994	2,940
Small business		20,108	129	20,165	266
Consumer		27,343	111	27,148	222
Residential		84,443	32	86,133	60
Total	$	481,791	2,305	485,641	3,680

Risk Grades For Commercial And Small Business Loans Including Loans Held For Sale

		Commercial			Owner Occupied	Other	Small	Small
		Non	Commercial	Commercial	Commercial	Commercial	Business	Business
		Real Estate	Residential	Land	Real Estate	Real Estate	Real Estate	Non-Real Estate
Grade:
Grades 1 to 7	$	188	-	-	5,285	25,945	-	695
Grade 10		2,068	1,538	-	-	21,220	2,213	4,180
Grade 11		25,911	63,380	12,888	4,097	130,069	17,899	6,880
Total	$	28,167	64,918	12,888	9,382	177,234	20,112	11,755

The following table presents risk grades for commercial and small business loans including loans held for sale as ofDecember 31, 2011 (in thousands):

		Commercial			Owner Occupied	Other	Small	Small
		Non	Commercial	Commercial	Commercial	Commercial	Business	Business
		Real Estate	Residential	Land	Real Estate	Real Estate	Real Estate	Non-Real Estate
Risk Grade:
Grades 1 to 7	$	71,798	16,085	18,752	82,251	250,238	157,237	85,942
Grade 10		6,021	1,375	-	-	50,208	2,837	4,306
Grade 11		40,326	91,307	14,838	5,890	184,261	24,845	9,477
Total	$	118,145	108,767	33,590	88,141	484,707	184,919	99,725

Loan-To-Value Ratios Of Residential Loans

		As of June 30, 2012 (1)		As of December 31, 2011 (1)
		Residential	Residential	Residential	Residential
Loan-to-value ratios		Interest Only	Amortizing	Interest Only	Amortizing
Ratios not available (2)	$	4,764	19,081	124,868	304,372
=<60%		413	3,532	20,314	68,817
60.1% - 70%		548	1,148	10,316	30,033
70.1% - 80%		254	1,791	24,784	32,271
80.1% - 90%		988	2,000	27,622	27,523
>90.1%		16,496	14,388	174,515	108,224
Total	$	23,463	41,940	382,419	571,240

(1) Current loan-to-value ratios (“LTV”) for the majority of the portfolio were obtained as of the second quarter of 2011 based on automated valuation models.

(2)Ratios not available consisted of properties not found in the automated valuation database, and $10.0 million and $78.8 million as of June 30, 2012 and December 31, 2011, respectively, of loans originated under the community reinvestment act program that are not monitored based on loan-to-value.

Loan-To-Value Ratios Of Consumer Loans

		Consumer Home Equity
		June 30,	December 31,
Loan-to-value ratios		2012	2011
<70%	$	16,931	334,050
70.1% - 80%		2,001	97,516
80.1% - 90%		1,026	62,674
90.1% -100%		-	40,327
>100%		-	11,341
Total	$	19,958	545,908

Schedule Of Troubled Debt Restructurings

Troubled debt restructurings during the three months ended June 30, 2012 and 2011 were as follows (dollars in thousands):

	For the Three Months Ended
	June 30, 2012			June 30, 2011
			Recorded			Recorded
	Number		Investment	Number		Investment
Troubled Debt Restructurings
Commercial non-real estate	-	$	-	3	$	2,211
Commercial real estate:
Residential	-		-	6		20,743
Land	-		-	-		-
Owner occupied	-		-	1		692
Other	-		-	4		39,880
Small business:
Real estate	-		-	-		-
Non-real estate	-		-	-		-
Consumer	1		47	3		410
Residential:
Residential-interest only	-		-	-		-
Residential-amortizing	-		-	4		294
Total Troubled Debt Restructured	1	$	47	21	$	64,230

Troubled debt restructurings during the six months ended June 30, 2012 and 2011 were as follows (dollars in thousands):

	For the Six Months Ended
	June 30, 2012			June 30, 2011
			Recorded			Recorded
	Number		Investment	Number		Investment
Troubled Debt Restructurings
Commercial non-real estate	-	$	-	3	$	2211
Commercial real estate:
Residential	-		-	6		20,743
Land	-		-	-		-
Owner occupied	-		-	1		692
Other	-		-	7		50,998
Small business:
Real estate	2		342	-		-
Non-real estate	-		-	-		-
Consumer	1		47	4		460
Residential:
Residential-interest only	-		-	1		547
Residential-amortizing	1		62	12		1,695
Total Troubled Debt Restructured	4	$	451	34	$	77,346

Recorded Investment Of Loans Modified In Troubled Debt Restructurings

The following table represents the recorded investment of loans that were modified in troubled debt restructurings beginning January 1, 2011 and 2010 and experienced a payment default during the three months ended June 30, 2012 and 2011 (dollars in thousands):

	For the Three Months Ended
	June 30, 2012			June 30, 2011
			Recorded			Recorded
	Number		Investment	Number		Investment
Troubled Debt Restructurings which
have subsequently defaulted:
Commercial non-real estate	-	$	-	-	$	-
Commercial real estate:
Residential	-		-	2		6,869
Land	-		-	-		-
Owner occupied	-		-	2		613
Other	-		-	1		6,102
Small business:
Real estate	-		-	1		156
Non-real estate	-		-	-		-
Consumer	-		-	8		757
Residential:
Residential-interest only	-		-	1		547
Residential-amortizing	2		177	5		1,071
Total Troubled Debt Restructured	2	$	177	20	$	16,115

The following table represents the recorded investment of loans that were modified in troubled debt restructurings beginning January 1, 2011 and 2010 and experienced a payment default during the six months ended June 30, 2012 and 2011 (dollars in thousands):

	For the Six Months Ended
	June 30, 2012			June 30, 2011
			Recorded			Recorded
	Number		Investment	Number		Investment
Troubled Debt Restructurings which
have subsequently defaulted:
Commercial non-real estate	-	$	-	-	$	-
Commercial real estate:
Residential	-		-	2		6,869
Land	-		-	1		3,458
Owner occupied	-		-	3		1,473
Other	-		-	1		6,102
Small business:
Real estate	-		-	1		156
Non-real estate	-		-	-		-
Consumer	-		-	9		777
Residential:
Residential-interest only	-		-	1		547
Residential-amortizing	2		177	5		1,071
Total Troubled Debt Restructured	2	$	177	23	$	20,453

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Fair Value Measurement (Schedule Of Fair Value By Balance Sheet Grouping) (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Cash and interest bearing deposits in other banks	$ 1,193,958	$ 770,292
Loans receivable including loans held for sale, net	402,823
Carrying Amount [Member]
Cash and interest bearing deposits in other banks		770,292
Securities available for sale		46,435
Tax certificates		46,488
Federal home loan bank stock		18,308
Loans receivable including loans held for sale, net		2,503,804
Deposits		3,280,083
Subordinated debentures		22,000
Junior subordinated debentures		337,114
Fair Value [Member]
Cash and interest bearing deposits in other banks		770,292
Securities available for sale		46,435
Tax certificates		45,562
Federal home loan bank stock		18,308
Loans receivable including loans held for sale, net		2,317,144
Deposits		3,279,562
Subordinated debentures		21,989
Junior subordinated debentures		$ 226,991

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Related Parties (Tables)

6 Months Ended

Jun. 30, 2012

Related Parties [Abstract]

Schedule Of Service Arrangements With Related Parties

		For the Three Months Ended		For the Six Months Ended
		June 30,		June 30,
		2012	2011	2012	2011
Non-interest income:	$	97	93	180	210
Non-interest expense:
Employee compensation
and benefits		(8)	(16)	(17)	(32)
Other - back-office support		(336)	(574)	(804)	(972)
Net effect of affiliate transactions
before income taxes	$	(247)	(497)	(641)	(794)

Schedule Of Share Based Compensation Options And Non-Vested Restricted Stock Outstanding

	Class A		Weighted
	Common		Average
	Stock		Price
Options outstanding	5,667	$	333.85
Non-vested restricted stock	7,500		-

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Consolidated Statements Of Cash Flows (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Consolidated Statements Of Cash Flows [Abstract]
Net cash provided by operating activities	$ 14,856	$ 44,240
Investing activities:
Proceeds from redemption of tax certificates	22,526	40,259
Purchase of investment securities and tax certificates	(765)	(18,567)
Proceeds from maturities of securities available for sale	12,287	107,036
Proceeds from maturities of interest bearing deposits	5,655	25,283
Redemptions of FHLB stock	9,980	11,943
Net repayments of loans	230,632	232,518
Proceeds from the sales of loans transferred to held for sale	1,000	27,793
Proceeds from sales of real estate owned	20,553	10,197
Purchases of office property and equipment	(81)	(1,467)
Proceeds from the sale of office properties and equipment	1,168	1,247
Net cash outflow from sale of Tampa branches		(257,221)
Net cash provided by investing activities	302,955	179,021
Financing activities:
Net increase (decrease) in deposits	170,446	(145,280)
Net repayments of FHLB advances		(170,020)
Net decrease in securities sold under agreements to repurchase		(21,524)
Decrease in short-term borrowings		(220)
Net Proceed from the issuance of Class A common stock		11,001
Noncontrolling interest distributions		(516)
Net cash provided by (used in) financing activities	170,446	(326,559)
Increase (decrease) in cash and cash equivalents	488,257	(103,298)
Cash and cash equivalents at the beginning of period	764,636	507,908
Change in cash and cash equivalents held for sale	(59,431)	5,850
Cash and cash equivalents at end of period	1,193,462	410,460
Cash paid (received) for:
Interest on borrowings and deposits	6,583	9,365
Supplementary disclosure of non-cash investing and financing activities:
Loans and tax certificates transferred to REO	21,887	25,074
Loans receivable transferred to loans held-for-sale	$ 16,140	$ 55,966

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Consolidated Statements Of Financial Condition (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Tax certificates, allowance	$ 3,519	$ 7,488
Loans receivable, allowance for loan losses	$ 7,153	$ 129,887
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	15,505,564	15,434,564
Common stock, shares outstanding	15,505,564	15,434,564
Class B Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,800,000	1,800,000
Common stock, shares issued	195,045	195,045
Common stock, shares outstanding	195,045	195,045

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Commitments And Contingencies

6 Months Ended

Jun. 30, 2012

Commitments And Contingencies [Abstract]

Commitments And Contingencies

10.Commitments and Contingencies

The Company and its subsidiaries are parties to lawsuits as plaintiff or defendant involving its bank operations, lending and tax certificates. Although the Company believes it has meritorious defenses in all current legal actions, the outcome of litigation and regulatory matters and timing of ultimate resolution are inherently difficult to predict and uncertain.

Reserves are accrued for matters in which it is probable that a loss will be incurred and the amount of such loss can be reasonably estimated. These accrual amounts as of June 30, 2012 are not material to the Company’s financial statements. The actual costs of resolving these legal claims may be substantially higher or lower than the amounts accrued for these claims.

A range of reasonably possible losses is estimated for matters in which it is reasonably possible that a loss has been incurred or that a loss is probable but not reasonably estimable. Management currently estimates that the aggregate range of reasonably possible losses in excess of the accrued liability are insignificant as of June 30, 2012.This estimated range of reasonably possible losses represents the estimated possible losses over the life of such legal matters, which may be an indeterminable time period, and is based on information currently available as of June 30, 2012. The matters underlying the estimated range will change from time to time, and actual results may vary significantly from this estimate. Those matters for which a reasonable estimate is not possible are not included within this estimated range and, therefore, this estimated range does not represent the Company’s maximum loss exposure. During the six months ended June 30, 2012, a matter associated with tax certificates activities was settled for $1.6 million reducing the range of possible losses reported as of December 31, 2011.

In certain matters we are unable to estimate the loss or reasonable range of loss until additional developments in the case provide information sufficient to support an assessment of the loss or range of loss. Frequently in these matters, the claims are broad and the plaintiffs have not quantified or factually supported the claim.

We believe that liabilities arising from litigation and regulatory matters, discussed below, in excess of the amounts currently accrued, if any, will not have a material impact to the Company’s financial statements. However, due to the significant uncertainties involved in these legal matters, we may incur losses in excess of accrued amounts and an adverse outcome in these matters could be material to the Company’s financial statements.

Litigation and regulatory matters assumed by BB&T in connection with the sale of BankAtlantic are no longer reported by the Company. The following is a description of the ongoing litigation and regulatory matters:

Class action securities litigation

In October 2007, the Company and current or former officers of the Company were named in a lawsuit which alleged that during the period of November 9, 2005 through October 25, 2007, the Company and the named officers knowingly and/or recklessly made misrepresentations of material fact regarding BankAtlantic and specifically BankAtlantic’s loan portfolio and allowance for loan losses. The Complaint asserted claims for violations of the Securities Exchange Act of 1934 and Rule 10b-5 and sought unspecified damages. On November 18, 2010, a jury returned a verdict awarding $2.41 per share to shareholders who purchased shares of the Company’s Class A Common Stock during the period of April 26, 2007 to October 26, 2007 who retained those shares until the end of the period.  The jury rejected the plaintiffs’ claim for the six month period from October 19, 2006 to April 25, 2007.  Prior to the beginning of the trial, the plaintiffs abandoned any claim for any prior period.  On April 25, 2011, the Court granted defendants’ post-trial motion for judgment as a matter of law and vacated the jury verdict, resulting in a judgment in favor of all defendants on all claims.  On July 23, 2012, a three judge panel of the United States Court of Appeals for the Eleventh Circuit issued a unanimous opinion affirming the judgment in favor of all defendants on all claims.

Securities and Exchange Commission Complaint

On January 18, 2012, the SEC brought an action in the United States District Court for the Southern District of Florida against BBX and Alan B. Levan, BBX’s Chairman and Chief Executive Officer, alleging that they violated securities laws by not timely disclosing known adverse trends in BBX’s commercial real estate loans, selectively disclosing problem loans and engaging in improper accounting treatment of certain specific loans which may have resulted in a material understatement of its net loss in BBX’s Annual Report on Form 10-K for the year ended December 31, 2007.Further, the complaint alleges that Mr. Alan B. Levan intentionally misled investors in related earnings calls. The SEC is seeking a finding by the court of violations of securities laws, a permanent injunction barring future violations, civil money penalties and, in the case of Mr. Alan B. Levan, an order barring him from serving as an officer or director of a public company.  BBX believes the claims to be without merit and intends to vigorously defend the actions.

BBX Shareholders Lawsuit Seeking to Block the sale of BankAtlantic to BB&T under the Agreement

On April 5, 2012, J. Phillip Max filed a class action complaint in the Circuit Court for the Seventeenth Judicial Circuit in Broward County, Florida against Alan Levan, Jarett Levan, John Abdo, Steven Coldren, D. Keith Cobb, Charles C. Winningham III, Bruno Di Giulian, Willis Holcombe, David Lieberman, BankAtlantic Bancorp, Inc., BFC Financial Corporation, and BB&T Corporation.  The complaint alleges that the individual defendants breached their fiduciary duties of care, good faith and loyalty by causing or permitting BBX to sell substantially all of its assets to BB&T.  The complaint further alleges that BBX, BFC and BB&T aided and abetted these breaches of fiduciary duty. The complaint seeks declaratory and equitable relief, including an injunction against the proposed transaction between BBX and BB&T, as well as seeking damages.  BBX believes the claims to be without merit and intends to vigorously defend the lawsuit.

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Document And Entity Information	6 Months Ended
	Jun. 30, 2012	Aug. 10, 2012 Class A Common Stock [Member]	Aug. 10, 2012 Class B Common Stock [Member]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2012
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2012
Entity Registrant Name	BBX CAPITAL CORPORATION
Entity Central Index Key	0000921768
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		15,505,064	195,045

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New Accounting Pronouncements

6 Months Ended

Jun. 30, 2012

New Accounting Pronouncements [Abstract]

New Accounting Pronouncements

11.New Accounting Pronouncements

Update Number 2011-12 – Comprehensive Income (Topic 220):Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05.In this update, the FASB deferred only changes in ASU 2011-5 that relate to the presentation of reclassification adjustments.The deferral allows the FASB to re-deliberate whether to present on the face of the financial statements the effects of reclassifications out of accumulated other comprehensive income of the components of net income and other comprehensive income for all periods presented.All other requirements of ASU 2011-5 are not affected by this deferral.

Update Number 2011-11 – Balance Sheet (Topic 210):Disclosures about Offsetting Assets and Liabilities.The amendment requires entities to disclose both gross information and net information about both instruments and transactions eligible for offset in the statement of financial condition and instruments and transactions subject to an agreement similar to a master netting arrangement.This amendment includes derivatives, sale and repurchase agreements and reverse sale and repurchase agreements, and securities borrowing and securities lending arrangements. This accounting standard update is effective for annual and interim periods beginning on or after January 1, 2013.The Company believes that this update will not have a material impact on its financial statements.

Update Number 2011-10 – Property, Plant, and Equipment (Topic 360): Derecognition of In-substance Real Estate—a Scope Clarification. Generally, when a reporting entity ceases to have a controlling financial interest in a subsidiary that is in-substance real estate as a result of default on the subsidiary’s nonrecourse debt, the reporting entity should apply the guidance of Topic 360 to determine whether it should derecognize the in-substance real estate.The reporting entity would continue to include the real estate and debt on its financial statements until legal title to the real estate is transferred to legally satisfy the debt.This accounting standard update is effective for annual and interim periods beginning on or after June 15, 2012.The Company believes that this update will not have a material impact on its financial statements.

Update Number 2011-08 – Intangibles – Goodwill and Other (Topic 350):Testing Goodwill for Impairment.This accounting standard update allows entities an option to first assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. Under this option, an entity is no longer required to calculate the fair value of a reporting unit unless the entity determines, based on that qualitative assessment, that it is more likely than not that the reporting unit’s fair value is less than its carrying amount. This accounting standard update is effective for annual and interim goodwill impairment tests performed beginning January 1, 2012. This update did not have a material impact on the Company’s financial statements.

Update Number 2011-05 – Comprehensive Income (Topic 220): Presentation of Comprehensive Income. This update makes available the option to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements.In both choices, an entity is required to present each component of net income along with total net income, each component of other comprehensive income along with a total for other comprehensive income, and a total amount for comprehensive income. Regardless of whether an entity chooses to present comprehensive income in a single continuous statement or in two separate but consecutive statements, the entity is required to present on the face of the financial statements reclassification adjustments for items that are reclassified from other comprehensive income to net income in the statements where the components of net income and the components of other comprehensive income are presented.The update did not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income.However, the update eliminated the presentation of other comprehensive income as part of the statement of changes in stockholders’ equity. This update is effective for the first interim period beginning after December 15, 2011, and must be applied retrospectively. The Company implemented this update as of January 1, 2012 except for the presentation of reclassification adjustments on the face of the financial statements which was deferred in Update Number 2011-12.Pursuant to the implementation of this update, The Company changed its presentation of comprehensive income from the presentation of comprehensive income as part of its Statement of Changes in Stockholders’ Equity to presenting comprehensive income in a separate statement.The implementation of this update did not have a material effect on the Company’s financial statements.

Update Number 2011-4 – Fair Value Measurement (Topic 820).Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRS.This guidance clarifies the FASB’s intent regarding the highest and best use valuation premise and also provides guidance on measuring the fair value of an instrument classified in shareholders’ equity, the treatment of premiums and discounts in fair value measurements and measuring fair value of financial instruments that are managed within a portfolio. This standard also expands the disclosure requirements related to fair value measurements, including a requirement to disclose valuation processes and sensitivity of the fair value measurements to changes in unobservable inputs for fair value measurements categorized within Level 3 of the fair value hierarchy and categorization by level of the fair value hierarchy for items that are not measured at fair value in the statement of financial position but for which the fair value measurement is required to be disclosed.  The effective date of this update is for the first interim period beginning after December 15, 2011, and early application is not permitted. The Company implemented this disclosure update as of January 1, 2012 and the implementation of this update did not have a material effect on the Company’s financial statements.

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Consolidated Statements Of Operations (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Interest income:
Interest and fees on loans	$ 7,287	$ 11,166	$ 15,622	$ 22,968
Interest and dividends on taxable securities		1		37
Total interest income	7,287	11,167	15,622	23,005
Interest on subordinated debentures	4,126	3,854	8,293	7,638
Net interest income	3,161	7,313	7,329	15,367
(Recovery from) provision for loan losses	(627)	4,313	(1,392)	11,140
Net interest income after provision for loan losses	3,788	3,000	8,721	4,227
Non-interest income:
Income from unconsolidated companies	119	432	239	813
Securities activities, net		(1,500)		(1,500)
Gain (loss) on sale of loans		10	3	(89)
Other	12	6	96	19
Total non-interest income	131	(1,052)	338	(757)
Non-interest expense:
Employee compensation and benefits	4,269	6,303	9,528	11,826
Occupancy and equipment	1,691	2,692	3,859	5,736
Advertising and promotion	130	145	283	258
Professional fees	3,239	658	9,436	2,786
(Recoveries) on assets held for sale	(1,165)		(1,165)
Impairment on loans held for sale	196	754	459	1,382
Impairment of real estate owned	1,793	5,826	3,534	7,514
Other	2,126	3,276	4,656	5,874
Total non-interest expense	12,279	19,654	30,590	35,376
Loss from continuing operations before income taxes	(8,360)	(17,706)	(21,531)	(31,906)
Provision for income taxes
Loss from continuing operations	(8,360)	(17,706)	(21,531)	(31,906)
(Loss) income from discontinued operations	(3,947)	41,107	(4,984)	32,420
Net (loss) income	(12,307)	23,401	(26,515)	514
Less: net income attributable to non-controlling interest		(290)		(585)
Net (loss) income attributable to BBX Capital Corporation	$ (12,307)	$ 23,111	$ (26,515)	$ (71)
Basic loss per share
Continuing operations	$ (0.53)	$ (1.38)	$ (1.37)	$ (2.54)
Discontinued operations	$ (0.25)	$ 3.15	$ (0.32)	$ 2.53
Basic loss per share	$ (0.78)	$ 1.77	$ (1.69)	$ (0.01)
Diluted loss per share
Continuing operations	$ (0.53)	$ (1.38)	$ (1.37)	$ (2.54)
Discontinued operations	$ (0.25)	$ 3.15	$ (0.32)	$ 2.53
Diluted loss per share	$ (0.78)	$ 1.77	$ (1.69)	$ (0.01)
Basic weighted average number of common shares outstanding	15,700,108	13,059,344	15,679,683	12,803,498
Diluted weighted average number of common and common equivalent shares outstanding	15,700,108	13,059,344	15,679,683	12,803,498

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Securities Available For Sale

6 Months Ended

Jun. 30, 2012

Securities Available For Sale [Abstract]

Securities Available For Sale

5.Securities Available for Sale

The following table summarizes securities available for sale (in thousands):

		As of December 31, 2011
			Gross	Gross
		Amortized	Unrealized	Unrealized	Estimated
		Cost	Gains	Losses	Fair Value
Government agency securities:
Mortgage-backed securities	$	12,533	885	-	13,418
Real estate mortgage investment conduits		30,561	1,129	-	31,690
Total		43,094	2,014	-	45,108
Equity securities		1,260	67	-	1,327
Total	$	44,354	2,081	-	46,435

The Company had equity securities available for sale with a cost of $10,000 and a fair value of $26,000 as of June 30, 2012.

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Fair Value Measurement

6 Months Ended

Jun. 30, 2012

Fair Value Measurement [Abstract]

Fair Value Measurement

4.Fair Value Measurement

The following tables present major categories of the Company’s assets measured at fair value on a recurring basis as of December 31, 2011 (in thousands):

			Fair Value MeasurementsUsing
			Quoted prices in
			Active Markets	Significant Other	Significant
		As of	for Identical	Observable	Unobservable
		December 31,	Assets	Inputs	Inputs
Description		2011	(Level 1)	(Level 2)	(Level 3)
Mortgage-backed securities	$	13,418	-	13,418	-
REMICS		31,690	-	31,690	-
Equity securities		1,327	827	500	-
Total	$	46,435	827	45,608	-

The Company had $26,000 of equity securities measured at fair value as of June 30, 2012 based on Level 1 inputs.

There were no recurring liabilities measured at fair value in the Company’s financial statements as of June 30, 2012 or December 31, 2011.

The valuation techniques and the inputs used in our financial statements to measure the fair value of our recurring financial instruments are described below.

The fair values of mortgage-backed and real estate mortgage conduit securities (“REMICS”) are estimated using independent pricing sources and matrix pricing. Matrix pricing uses a market approach valuation technique and Level 2 valuation inputs as quoted market prices are not available for the specific securities that the Company owns. The independent pricing sources value these securities using observable market inputs including:benchmark yields, reported trades, broker/dealer quotes, issuer spreads and other reference data in the secondary institutional market, which is the principal market for these types of assets. To validate fair values obtained from the pricing sources, the Company reviews fair value estimates obtained from brokers, investment advisors and others to determine the reasonableness of the fair values obtained from independent pricing sources. The Company reviews any price that it determines may not be reasonable and requires the pricing sources to explain the differences in fair value or re-evaluate its estimated fair value.

Equity securities are generally fair valued using the market approach and quoted market prices (Level 1) or matrix pricing (Level 2) with inputs obtained from independent pricing sources, if available.We also obtain non-binding broker quotes to validate fair values obtained from matrix pricing. We also invest in private limited partnerships that do not have readily determinable fair values.We use the net asset value per share as provided by the partnership to estimate the fair value of these investments.The net asset value of the partnership is a Level 2 input since we have the ability to require the redemption of our investment at its net asset value.

The following table presents major categories of assets measured at fair value on a non-recurring basis as of June 30, 2012 (in thousands):

			Fair Value Measurements Using
			Quoted prices in
			Active Markets	Significant	Significant	Total
			for Identical	Other Observable	Unobservable	Impairments (1)
		June 30,	Assets	Inputs	Inputs	For the Six
Description		2012	(Level 1)	(Level 2)	(Level 3)	Months Ended
Impairedreal estate owned	$	27,288	-	-	27,288	3,534
Impaired loans held for sale		9,397	-	-	9,397	459
Total	$	36,685	-	-	36,685	3,993

(1)Total impairments represent the amount recognized during the six months ended June 30, 2012 on assets that were held and measured at fair value as of June 30, 2012.

Quantitative information about significant unobservable inputs within Level 3 non-recurring major categories of assets is as follows (dollars in thousands):

As of June 30, 2012		Fair	Valuation	Unobservable
Description		Value	Technique	Inputs	Range (Average) (1)
Impairedreal estate owned	$	27,288	Fair Value of Property	Appraisal	$0.4 -6.5 million (3.0 million)
Impaired loans held for sale		9,397	Fair Value of Collateral	Appraisal	$0.9 -3.6 million (1.9 million)
Total	$	36,685

(1)Range and average appraised values were reduced by costs to sell.

The following table presents major categories of assets measured at fair value on a non-recurring basis as of June 30, 2011 (in thousands):

			Fair Value Measurements Using
			Quoted prices in
			Active Markets	Significant	Significant	Total
			for Identical	Other Observable	Unobservable	Impairments (1)
		June 30,	Assets	Inputs	Inputs	For the Six
Description		2011	(Level 1)	(Level 2)	(Level 3)	Months Ended
Loans measured for
impairment using the fair value
of the underlying collateral	$	265,245	-	-	265,245	24,624
Impaired loans held for sale		27,463	-	-	27,463	6,335
Impairedreal estate owned		36,044	-	-	36,044	8,830
Total	$	328,752	-	-	328,752	39,789

(1)Total impairments represent the amount recognized during the six months ended June 30, 2011 on assets that were measured at fair value as of June 30, 2011.

There were no material liabilities measured at fair value on a non-recurring basis in the Company’s financial statements as of June 30, 2012 and December 31, 2011.

Loans Measured For Impairment

Impaired loans are generally valued based on the fair value of the underlying collateral less cost to sell. The Company primarily uses third party appraisals to assist in measuring non-homogenous impaired loans. These appraisals generally use the market or income approach valuation technique and use market observable data to formulate an opinion of the fair value of the loan’s collateral. However, the appraiser uses professional judgment in determining the fair value of the collateral or properties, and we may also adjust these values for changes in market conditions subsequent to the appraisal date. When current appraisals are not available for certain loans, we use our judgment on market conditions to adjust the most current appraisal. The sales prices may reflect prices of sales contracts not closed, and the amount of time required to sell out the real estate project may be derived from current appraisals of similar projects. As a consequence, the calculation of the fair value of the collateral are considered Level 3 inputs. The Company generally recognizes impairment losses based on third party broker price opinions or automated valuation services to obtain the fair value of the collateral less cost to sell when impaired homogenous loans become 120 days delinquent. These third party valuations from real estate professionals also use Level 3 inputs in determining fair values. The observable market inputs used to fair value loans include comparable property sales, rent rolls, market capitalization rates on income producing properties, risk adjusted discounts rates and foreclosure period and exposure periods.The fair value of our loans may significantly increase or decrease based on property values as our loans are primarily real estate loans.

Impaired Real Estate Owned

Real estate is generally valued using third party appraisals or broker price opinions. These appraisals generally use the market approach valuation technique and use market observable data to formulate an opinion of the fair value of the properties.The market observable data was generally comparable property sales, rent rolls, market capitalization rates on income producing properties and risk adjusted discount rates. However, the appraisers or brokers use professional judgments in determining the fair value of the properties and we may also adjust these values for changes in market conditions subsequent to the valuation date. As a consequence of using appraisals, broker price opinions and adjustments to appraisals, the fair values of the properties are considered Level 3 inputs.

Loans Held for Sale

Loans held for sale are valued using an income approach with Level 3 inputs as market quotes or sale transactions of similar loans are generally not available.The fair value is estimated by discounting forecasted cash flows, using a discount rate that reflects the risks inherent in the loans held for sale portfolio.For non-performing loans held for sale, the forecasted cash flows are based on the estimated fair value of the collateral less cost to sell adjusted for foreclosure expenses and other operating expenses of the underlying collateral until foreclosure or sale.

Financial Disclosures about Fair Value of Financial Instruments

				Fair Value Measurements Using
		Carrying		Quoted prices in
		Amount		Active Markets	Significant	Significant
		As of	As of	for Identical	Other Observable	Unobservable
(in thousands)		June 30,	June 30,	Assets	Inputs	Inputs
Description		2012	2012	(Level 1)	(Level 2)	(Level 3)
Financial assets:
Cash and interest bearing
deposits in other banks	$	1,193,958	1,193,958	1,193,958	-	-
Securities available for sale		26	26	26
Tax certificates		5,293	5,346	-	-	5,346
Loans receivable including loans
held for sale, net		402,823	405,300	-	-	405,300
Financial liabilities:
Junior subordinated debentures		345,092	307,625	-	307,625	-

		December 31, 2011
		Carrying	Fair
(in thousands)		Amount	Value
Financial assets:
Cash and interest bearing
deposits in other banks	$	770,292	770,292
Securities available for sale		46,435	46,435
Tax certificates		46,488	45,562
Federal home loan bank stock		18,308	18,308
Loans receivable including loans
held for sale, net		2,503,804	2,317,144
Financial liabilities:
Deposits		3,280,083	3,279,562
Subordinated debentures		22,000	21,989
Junior subordinated debentures		337,114	226,991

Management has made estimates of fair value that it believes to be reasonable. However, because there is no active market for many of these financial instruments and management has derived the fair value of the majority of these financial instruments using the income approach technique with Level 3 unobservable inputs, the Company may not receive the estimated value upon sale or disposition of the asset or pay the estimated value upon disposition of the liability in advance of its scheduled maturity. Management estimates used in its net present value financial models rely on assumptions and judgments regarding issues where the outcome is unknown and actual results or values may differ significantly from these estimates. The Company’s fair value estimates do not consider the tax effect that would be associated with the disposition of the assets or liabilities at their fair value estimates.

Fair values are estimated for loan portfolios with similar financial characteristics. Loans are segregated by category, and each loan category is further segmented into fixed and adjustable rate interest terms and by performing and non-performing categories.

The fair value of performing loans is calculated by using an income approach with Level 3 inputs.The fair value of performing loans is estimated by discounting forecasted cash flows through the estimated maturity using estimated market discount rates that reflect the interest rate risk inherent in the loan portfolio. The estimate of average maturity is based on BankAtlantic's historical experience with prepayments for each loan classification, modified as required, by an estimate of the effect of current economic and lending conditions. Management assigns a credit risk premium and an illiquidity adjustment to these loans based on risk grades and delinquency status.The fair value of non-performing collateral dependent loans is estimated using an income approach with Level 3 inputs. The fair value of non-performing loans utilizes the fair value of the collateral adjusted for operating and selling expenses and discounted over the estimated holding period based on the market risk inherent in the property.

The fair value of tax certificates is calculated using the income approach with Level 3 inputs.The fair value is based on discounted expected cash flows using discount rates that take into account the risk of the cash flows of tax certificates relative to alternative investments.

The fair value of FHLB stock is its carrying amount as the FHLB redeems its stock at par.

As permitted by applicable accounting guidance, the fair value of deposits with no stated maturity, such as non-interest bearing demand deposits, savings and NOW accounts, and money market and checking accounts, is shown in the above table at book value. The fair value of certificates of deposit is based on an income approach with Level 3 inputs.The fair value is calculated by the discounted value of contractual cash flows with the discount rate estimated using current rates offered by BankAtlantic for similar remaining maturities.

The fair value of BankAtlantic’s subordinated debentures was based on discounted values of contractual cash flows at a market discount rate adjusted for non-performance risk (Level 3 inputs).

In determining the fair value of all of the Company’s junior subordinated debentures, the Company used NASDAQ price quotes available with respect to its $76.6 million of publicly traded trust preferred securities related to its junior subordinated debentures (“public debentures”). However, $268.5 million of the outstanding trust preferred securities related to its junior subordinated debentures are not traded, but are privately held in pools (“private debentures”) and with no liquidity or readily determinable source for valuation. We have deferred the payment of interest with respect to all of our junior subordinated debentures as permitted by the terms of these securities.Based on the deferral status and the lack of liquidity and ability of a holder to actively sell such private debentures, the fair value of these private debentures may be subject to a greater discount to par and have a lower fair value than indicated by the public debenture price quotes.  However, due to their private nature and the lack of a trading market, fair value of the private debentures was not readily determinable at June 30, 2012 and December 31, 2011, and as a practical alternative, management used the NASDAQ price quotes of the public debentures to value all of the outstanding junior subordinated debentures whether privately held or public traded.  As such, the private debentures were valued using Level 2 inputs.

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Share-based Compensation and Common Stock (Tables)

6 Months Ended

Jun. 30, 2012

Share-Based Compensation And Common Stock [Abstract]

Schedule Of Nonvested Restricted Common Share

	Class A		Weighted
	Non-vested		Average
	Restricted		Grant date
	Stock		Fair Value
Outstanding at December 31, 2010	313,780	$	7.40
Vested	(86,730)		8.55
Forfeited	(7,250)		6.20
Granted	-		-
Outstanding at June 30, 2011	219,800	$	6.99
Outstanding at December 31, 2011	211,900	$	6.96
Vested	(70,500)		6.20
Forfeited	(4,000)		6.20
Granted	-		-
Outstanding at June 30, 2012	137,400	$	7.37

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Assets And Liabilities Held For Sale (Tables)

6 Months Ended

Jun. 30, 2012

Assets And Liabilities Held For Sale [Abstract]

Schedule Of Assets And Liabilities Held For Sale

		June 30,
		2012
Cash and due from banks	$	59,431
Securities available for sale, at fair value		33,550
Tax certificates		17,736
Federal Home Loan Bank stock		8,328
Loans receivable		1,833,738
Accrued interest receivable		11,347
Office properties and equipment		129,734
Goodwill		13,081
Other assets		19,337
Total assets held for sale	$	2,126,282
Deposits
Interest free checking	$	928,527
Insured money fund savings		699,179
Now accounts		1,114,360
Savings accounts		424,848
Total non-certificate accounts		3,166,914
Certificate accounts		283,615
Total deposits held for sale	$	3,450,529
Subordinated debentures	$	22,000
Other liabilities		36,347
Total other liabilities held for sale	$	58,347
Total liabilities held for sale	$	3,508,876

Schedule Of Discontinued Operations By Income Statement Account

		For the Three Months		For the Six Months
		Ended June 30,		Ended June 30,
		2012	2011	2012	2011
Total interest income	$	17,924	26,113	38,651	53,780
Total interest expense		3,248	4,242	6,502	8,954
Net interest income		14,676	21,871	32,149	44,826
Provision for loan losses		7,301	6,396	16,518	27,381
Net interest income after
provision for loan losses		7,375	15,475	15,631	17,445
Non-interest income:
Service charges on deposits		7,491	11,226	15,342	23,258
Other service charges and fees		5,958	6,886	11,896	14,077
Securities activities, net		(99)	-	(99)	(24)
Gain on sale of Tampa branches		-	38,656	-	38,656
Other		1,383	2,878	5,118	6,172
Total non-interest income		14,733	59,646	32,257	82,139
Non-interest expense (1):
Employee compensation and benefits		10,456	13,428	22,146	27,195
Occupancy and equipment		7,159	8,380	14,431	17,502
Advertising and promotion		919	1,378	1,935	2,961
Professional fees		395	637	2,218	1,869
Other		7,126	10,191	12,141	17,636
Total non-interest expense		26,055	34,014	52,871	67,163
(Loss) incomefrom
discontinued operations		(3,947)	41,107	(4,983)	32,421
Provision for income taxes		-	-	1	1
Net (loss) incomefrom
discontinued operations	$	(3,947)	41,107	(4,984)	32,420

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Related Parties

6 Months Ended

Jun. 30, 2012

Related Parties [Abstract]

Related Parties

8.Related Parties

The Company, BFC and Bluegreen Corp. (“Bluegreen”) may be deemed to be under common control.The controlling shareholder of the Company and Bluegreen is BFC.Shares of BFC’s capital stock representing a majority of the voting power are owned or controlled by the Company’s Chairman and Vice Chairman, both of whom are also directors of the Company, executive officers and directors of BFC and directors of Bluegreen. The Company, BFC and Bluegreen share certain office premises and employee services, pursuant to the agreements described below.

In March 2008, BankAtlantic entered into an agreement with BFC to provide information technology support in exchange for monthly payments by BFC to BankAtlantic. In May 2008, BankAtlantic also entered into a lease agreement with BFC under which BFC pays BankAtlantic monthly rent for office space in BankAtlantic’s corporate headquarters.

The Company maintains service agreements with BFC pursuant to which BFC provides human resources, risk management and investor relations services to the Company.BFC is compensated for these services based on its cost.

During the second quarter of 2010, BankAtlantic and the Parent Company entered into a real estate advisory service agreement with BFC for assistance relating to the work-out of loans and the sale of real estate owned.BFC is compensated $12,500 per month by each of BankAtlantic and the Parent Company and, if BFC’s efforts result in net recoveries of any non-performing loan or the sale of real estate owned, it will receive a fee equal to 1% of the net value recovered. During the three and six months ended June 30, 2012, the Company incurred $0.1 million and $0.2 million, respectively, of real estate advisory service fees under this agreement compared to $0.2 million and $0.3 million during three and six months ended June 30, 2011, respectively.This real estate advisory service agreement was terminated effective upon the closing of the Transaction.

The table below shows the effect of service arrangements with related parties on the Company’s consolidated statements of operations for the three and six months ended June 30, 2012 and 2011 (in thousands):

		For the Three Months Ended		For the Six Months Ended
		June 30,		June 30,
		2012	2011	2012	2011
Non-interest income:	$	97	93	180	210
Non-interest expense:
Employee compensation
and benefits		(8)	(16)	(17)	(32)
Other - back-office support		(336)	(574)	(804)	(972)
Net effect of affiliate transactions
before income taxes	$	(247)	(497)	(641)	(794)

The Company, in prior periods, issued options to acquire shares of the Company’s Class A Common Stock to employees of BFC. Additionally, employees of the Company have transferred to affiliate companies and the Company has elected, in accordance with the terms of the Company’s stock option plans, not to cancel the stock options held by those former employees.The Company also issues options and restricted stock awards to BFC employees that perform services for the Company.During the year ended December 31, 2010, the Company granted 15,000 RSAs to BFC employees that perform services for the Company. These stock awards vest pro-rata over a four year period.The Company recorded $8,000, and $17,000 of expenses relating to all options and restricted stock awards held by employees of affiliated companies for the three and six months ended June 30, 2012,compared to expenses of $16,000 and $32,000 during the three and six months ended June 30, 2011, respectively.

Options and non-vested restricted stock outstanding to BFC employees consisted of the following as of June 30, 2012:

	Class A		Weighted
	Common		Average
	Stock		Price
Options outstanding	5,667	$	333.85
Non-vested restricted stock	7,500		-

The Company’s Compensation Committee of the Board of Directors approved the acceleration of vesting of the RSAs issued to BFC employees who were employed by BankAtlantic upon the closing of the Transaction on July 31, 2012. BFC had deposits at BankAtlantic totaling $1.6 million and $0.2 million as of June 30, 2012 and December 31, 2011, respectively. The Company recognized nominal interest expense in connection with the above deposits. These deposits were on the same general terms as offered to unaffiliated third parties.

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Loans Receivable

6 Months Ended

Jun. 30, 2012

Loans Receivable [Abstract]

Loans Receivable

6.Loans Receivable

The loan disclosures in this note as of June 30, 2012 includes loans in the Company’s asset workout subsidiary and only those loans which were to be transferred to FAR or CAM in connection with the Transaction and excludes $1.8 billion of loans to be transferred to BB&T under the terms of the Agreement.The loans transferred to BB&T are included in assets held for sale as of June 30, 2012.

The loan portfolio consisted of the following (in thousands):

		June 30,	December 31,
		2012	2011
Commercial non-real estate	$	28,167	118,145
Commercial real estate:
Residential		60,894	104,593
Land		3,496	24,202
Owner occupied		8,100	86,809
Other		161,180	464,902
Small Business:
Real estate		19,963	184,919
Non-real estate		11,755	99,835
Consumer:
Consumer - home equity		19,958	545,908
Consumer other		30	10,704
Deposit overdrafts		-	1,971
Residential:
Residential-interest only		18,077	375,498
Residential-amortizing		31,065	558,026
Total gross loans		362,685	2,575,512
Adjustments:
Premiums, discounts and net deferred fees		262	2,578
Allowance for loanlosses		(7,153)	(129,887)
Loans receivable -- net	$	355,794	2,448,203
Loans held for sale	$	47,029	55,601

Loans held for sale - Loans held for sale as of June 30, 2012 consisted of $30.9 million of commercial real estate loans and $16.1 million of residential loans.Loans held for sale as of December 31, 2011 consisted of $35.8 million of commercial real estate loans and $19.8 million of residential loans. The Company transfers loans to held-for-sale when, based on the current economic environment and related market conditions, it does not have the intent to hold those loans for the foreseeable future.

The recorded investment (unpaid principal balance less charge-offs and deferred fees) of non-accrual loans receivable and loans held for sale was (in thousands):

		June 30,	December 31,
Loan Class		2012	2011
Commercial non-real estate	$	5,607	19,172
Commercial real estate:
Residential		63,381	71,719
Land		12,888	14,839
Owner occupied		3,140	4,168
Other		91,590	123,396
Small business:
Real estate		4,887	10,265
Non-real estate		1,380	1,751
Consumer		8,261	14,134
Residential:
Interest only		22,085	33,202
Amortizing		35,005	52,653
Total nonaccrual loans	$	248,224	345,299

An age analysis of the past due recorded investment in loans receivable and loans held for sale as of June 30, 2012 and December 31, 2011 was as follows (in thousands):

							Total
		31-59 Days	60-89 Days	90 Days	Total		Loans
June 30, 2012		Past Due	Past Due	or More	Past Due	Current	Receivable
Commercial non-real estate	$	2,500	1,093	1,381	4,974	23,193	28,167
Commercial real estate:
Residential		-	-	46,328	46,328	18,590	64,918
Land		-	-	12,888	12,888	-	12,888
Owner occupied		-	138	3,002	3,140	6,242	9,382
Other		-	-	42,149	42,149	135,085	177,234
Small business:
Real estate		893	-	4,127	5,020	15,092	20,112
Non-real estate		20	-	-	20	11,735	11,755
Consumer		719	1,134	8,261	10,114	10,003	20,117
Residential:
Residential-interest only		397	-	21,779	22,176	1,286	23,462
Residential-amortizing		1,358	779	32,292	34,429	7,512	41,941
Total	$	5,887	3,144	172,207	181,238	228,738	409,976

							Total
		31-59 Days	60-89 Days	90 Days	Total		Loans
December 31, 2011		Past Due	Past Due	or More (1)	Past Due	Current	Receivable
Commercial non-real estate	$	-	2,248	13,292	15,540	102,605	118,145
Commercial real estate:
Residential		-	-	44,633	44,633	64,134	108,767
Land		681	-	14,839	15,520	18,070	33,590
Owner occupied		2,008	-	4,031	6,039	82,102	88,141
Other		-	5,467	47,841	53,308	431,399	484,707
Small business:
Real estate		2,089	372	9,449	11,910	173,009	184,919
Non-real estate		-	462	76	538	99,187	99,725
Consumer		5,339	3,996	14,134	23,469	538,569	562,038
Residential:
Residential-interest only		2,656	3,488	32,317	38,461	343,958	382,419
Residential-amortizing		3,968	4,513	48,189	56,670	514,570	571,240
Total	$	16,741	20,546	228,801	266,088	2,367,603	2,633,691

(1)Includes an $80,000 commercial loan that was past due greater than 90 days and still accruing.

The activity in the allowance for loan losses by portfolio segment for the three months ended June 30, 2012 was as follows (in thousands):

			Commercial
		Commercial	Real	Small
		Non-Real Estate	Estate	Business	Consumer	Residential	Total
Allowance for Loan Losses:
Beginning balance	$	1,359	4,212	1,020	366	210	7,167
Charge-off :		-	(1,778)	(748)	(849)	(1,547)	(4,922)
Recoveries :		386	1,631	128	236	281	2,662
Provision :		(945)	318	-	-	-	(627)
Discontinued operations
provision:		-	-	926	654	1,293	2,873
Transfer to assets held for sale:		-	-	-	-	-	-
Ending balance	$	800	4,383	1,326	407	237	7,153
Ending balance individually
evaluated for impairment	$	237	1,265	790	-	-	2,292
Ending balance collectively
evaluated for impairment		563	3,118	536	407	237	4,861
Total	$	800	4,383	1,326	407	237	7,153
Loans receivable:
Ending balance individually
evaluated for impairment	$	7,361	194,168	957	7,907	40,331	250,724
Ending balance collectively
evaluated for impairment	$	20,806	39,502	30,761	12,081	8,811	111,961
Total	$	28,167	233,670	31,718	19,988	49,142	362,685
Purchases of loans	$	-	-	-	-	-	-
Proceeds from loan sales	$	-	-	-	-	-	-
Transfer to loans held for sale	$	-	-	-	-	-	-

The activity in the allowance for loan losses by portfolio segment for the three months ended June 30, 2011 was as follows (in thousands):

			Commercial
		Commercial	Real	Small
		Non-Real Estate	Estate	Business	Consumer	Residential	Total
Allowance for Loan Losses:
Beginning balance	$	10,708	79,142	10,125	27,511	27,565	155,051
Charge-offs:		(124)	(15,100)	(2,010)	(6,379)	(5,767)	(29,380)
Recoveries :		57	75	203	492	435	1,262
Provision :		376	3,937	-	-	-	4,313
Discontinued operations
provision:		-	-	1,535	3,375	1,487	6,397
Ending balance	$	11,017	68,054	9,853	24,999	23,720	137,643
Ending balance individually
evaluated for impairment	$	9,618	47,638	1,595	1,671	4,555	65,077
Ending balance collectively
evaluated for impairment		1,399	20,416	8,258	23,328	19,165	72,566
Total	$	11,017	68,054	9,853	24,999	23,720	137,643
Loans receivable:
Ending balance individually
evaluated for impairment	$	34,569	285,325	10,370	24,576	57,740	412,580
Ending balance collectively
evaluated for impairment	$	90,261	466,287	282,388	568,561	982,126	2,389,623
Total	$	124,830	751,612	292,758	593,137	1,039,866	2,802,203
Purchases of loans	$	-	-	-	-	9,816	9,816
Proceeds from loan sales	$	-	24,693	-	-	4,983	29,676
Transfer to loans held for sale	$	-	28,444	-	-	-	28,444

The activity in the allowance for loan losses by portfolio segment for the six months ended June 30, 2012 was as follows (in thousands):

			Commercial
		Commercial	Real	Small
		Non-Real Estate	Estate	Business	Consumer	Residential	Total
Allowance for Loan Losses:
Beginning balance	$	16,407	67,054	7,168	22,554	16,704	129,887
Charge-off :		(14,615)	(53,281)	(2,372)	(7,413)	(11,756)	(89,437)
Recoveries :		440	1,631	270	1,031	1,277	4,649
Provision :		465	(1,857)	-	-	-	(1,392)
Transfer to held for sale:		(1,897)	(9,164)	(4,454)	(20,639)	(12,491)	(48,645)
Discontinued operations
Provision:		-	-	714	4,874	6,503	12,091
Ending balance	$	800	4,383	1,326	407	237	7,153
Purchases of loans	$	-	-	-	-	-	-
Proceeds from loan sales	$	-	1,000	-		-	1,000
Transfer to held for sale	$	-	16,140	-	-	-	16,140

The activity in the allowance for loan losses by portfolio segment for the six months ended June 30, 2011 was as follows (in thousands):

			Commercial
		Commercial	Real	Small
		Non-Real Estate	Estate	Business	Consumer	Residential	Total
Allowance for Loan Losses:
Beginning balance	$	10,786	83,859	11,514	32,043	23,937	162,139
Charge-off :		(588)	(26,152)	(4,621)	(14,193)	(13,778)	(59,332)
Recoveries :		848	793	513	900	566	3,620
Provision :		(29)	11,169	-	-	-	11,140
Transfer to held for sale:		-	(1,615)	-	-	(5,691)	(7,306)
Discontinued operations
provision:		-	-	2,447	6,249	18,686	27,382
Ending balance	$	11,017	68,054	9,853	24,999	23,720	137,643
Purchases of loans	$	-	-	-	-	13,680	13,680
Proceeds from loan sales	$	-	27,793	-		12,601	40,394
Transfer to held for sale	$	-	30,894	-	-	25,072	55,966

As part of the transition of the regulation of OTS savings associations to the OCC, the OCCprovidedguidance to thrifts related to their transition to OCC regulatory reporting, which was to be implemented no later than March 31, 2012, includingguidance surrounding specific valuation allowances on collateral dependent loans.Under OCC guidance, where the appraised value of collateral on a collateral dependent loan is less than the recorded investment of the loan, a charge-off of the amount of the deficiency rather than a specific valuation allowance is now generally required. Management considered the appraisals on its impaired collateral dependent loans, including appraised values and appraisal dates and during the first quarter of 2012, the Company charged down the recorded investment of loans by $66.5 million to the fair value of the collateral less cost to sell.This charge down consisted entirely of the charging off of existing specific valuation allowances.Asa specific valuation allowance was previously established for these loans, the charge-offs did not impact the provision for loan losses or the net loss during the three months ended March 31, 2012, butdid reduce the Company’s allowance for loan losses and recorded investment in the loans.

Impaired Loans - Loans are considered impaired when, based on current information and events, the Company believes it is probable that it will be unable to collect all amounts due according to the contractual terms of the loan agreement. For a loan that has been restructured, the contractual terms of the loan agreement refer to the contractual terms specified by the original loan agreement, not the contractual terms specified by the restructured agreement.Impairment is evaluated based on past due status for consumer and residential loans.Impairment is evaluated as part of the Company’s on-going credit monitoring process for commercial and small business loans which results in the evaluation for impairment of substandard loans.Factors considered in determining if a loan is impaired are past payment history, strength of the borrower or guarantors, and cash flow associated with the collateral or business.If a loan is impaired, a specific valuation allowance is allocated, if necessary, based on the present value of estimated future cash flows using the loan’s existing interest rate or based on the fair value of the loan. Collateral dependent impaired loans are charged down to the fair value of collateral less cost to sell. Interest payments on impaired loans for all loan classes are recognized on a cash basis, unless collectability of the principal and interest amount is probable, in which case interest is recognized on an accrual basis. Impaired loans, or portions thereof, are charged off when deemed uncollectible.Impaired loans held for sale are measured for impairment based on the estimated fair value of the collateral less cost to sell adjusted for foreclosure expenses and other operating expenses of the underlying collateral until foreclosure and sale.

Impaired loans as of June 30, 2012 and December 31, 2011 were as follows (in thousands):

		As of June 30, 2012			As of December 31, 2011
			Unpaid			Unpaid
		Recorded	Principal	Related	Recorded	Principal	Related
		Investment	Balance	Allowance	Investment	Balance	Allowance
With a related allowance recorded:
Commercial non-real estate	$	1,174	1,174	237	17,792	17,792	15,408
Commercial real estate:
Residential		7,544	12,411	67	64,841	70,780	20,986
Land		-	-	-	5,451	5,451	1,765
Owner occupied		-	-	-	1,715	1,715	100
Other		35,307	50,429	1,198	130,771	149,742	29,731
Small business:
Real estate		-	-	-	6,499	6,499	85
Non-real estate		957	957	790	1,339	1,339	776
Consumer		-	-	-	15,951	17,502	1,454
Residential:
Residential-interest only		-	-	-	15,441	20,667	2,982
Residential-amortizing		-	-	-	20,554	24,545	3,960
Total with allowance recorded	$	44,982	64,971	2,292	280,354	316,032	77,247
With no related allowance recorded:
Commercial non-real estate	$	6,933	7,059	-	5,922	5,922	-
Commercial real estate:
Residential		56,297	122,432	-	26,735	71,759	-
Land		12,887	35,768	-	9,388	30,314	-
Owner occupied		4,549	6,523	-	3,882	4,872	-
Other		108,901	147,666	-	63,024	86,052	-
Small business:
Real estate		10,566	12,167	-	10,265	12,007	-
Non-real estate		744	868	-	792	1,107	-
Consumer		18,723	22,966	-	9,719	13,246	-
Residential:
Residential-interest only		22,085	38,244	-	17,761	28,042	-
Residential-amortizing		37,075	53,254	-	34,494	45,680	-
Total with no allowance recorded	$	278,760	446,947	-	181,982	299,001	-
Commercial non-real estate	$	8,107	8,233	237	23,714	23,714	15,408
Commercial real estate		225,485	375,229	1,265	305,807	420,685	52,582
Small business		12,267	13,992	790	18,895	20,952	861
Consumer		18,723	22,966	-	25,670	30,748	1,454
Residential		59,160	91,498	-	88,250	118,934	6,942
Total	$	323,742	511,918	2,292	462,336	615,033	77,247

Average recorded investment and interest income recognized on impaired loans as of June 30, 2012 were (in thousands):

		For the Three Months Ended		For the Six Months Ended
		June 30, 2012		June 30, 2012
		Average Recorded	Interest Income	Average Recorded	Interest Income
		Investment	Recognized	Investment	Recognized
With an allowance recorded:
Commercial non-real estate	$	1,187	-	1,183	-
Commercial real estate:
Residential		8,136	73	10,309	150
Land		-	-
Owner occupied		-	-
Other		35,361	251	35,447	503
Small business:
Real estate		-	-	-	-
Non-real estate		958	-	959	-
Consumer		-	-	-	-
Residential:
Residential-interest only		-	-	-	-
Residential-amortizing		-	-	-	-
Total with allowance recorded	$	45,642	324	47,898	653
With no related allowance recorded:
Commercial non-real estate	$	6,954	62	6,413	80
Commercial real estate:
Residential		59,357	139	68,429	365
Land		13,301	-	14,165	-
Owner occupied		5,618	22	5,671	36
Other		112,515	582	123,108	1,169
Small business:
Real estate		10,659	109	10,693	215
Non-real estate		752	10	760	22
Consumer		19,140	82	19,340	163
Residential:
Residential-interest only		22,812	-	21,128	-
Residential-amortizing		39,030	32	38,877	64
Total with no allowance recorded	$	290,138	1,038	308,584	2,114
Commercial non-real estate	$	8,141	62	7,596	80
Commercial real estate		234,288	1,067	257,129	2,223
Small business		12,369	119	12,412	237
Consumer		19,140	82	19,340	163
Residential		61,842	32	60,005	64
Total	$	335,780	1,362	356,482	2,767

Average recorded investment and interest income recognized on impaired loans as of June 30, 2011 were (in thousands):

		For the Three Months Ended		For the Six Months Ended
		June 30, 2011		June 30, 2011
		Average Recorded	Interest Income	Average Recorded	Interest Income
		Investment	Recognized	Investment	Recognized
With an allowance recorded:
Commercial non-real estate	$	15,404	168	15,872	184
Commercial real estate:
Residential		91,127	841	87,995	1,251
Land		5,369	25	8,649	50
Owner occupied		3,028	-	2,583	-
Other		100,280	388	98,751	682
Small business:
Real estate		8,209	-	6,340	-
Non-real estate		1,941	-	1,887	-
Consumer		17,675	-	13,026	-
Residential:
Residential-interest only		14,413	-	20,210	-
Residential-amortizing		15,342	-	18,434	-
Total with allowance recorded	$	272,788	1,422	273,747	2,167
With no related allowance recorded:
Commercial non-real estate	$	11,746	2	8,329	8
Commercial real estate:
Residential		21,203	40	29,080	110
Land		16,638	-	15,771	-
Owner occupied		5,018	33	4,652	69
Other		80,084	536	80,513	778
Small business:
Real estate		9,334	122	11,465	252
Non-real estate		624	7	473	14
Consumer		9,668	111	14,122	222
Residential:
Residential-interest only		21,740	-	16,969	-
Residential-amortizing		32,948	32	30,520	60
Total with no allowance recorded	$	209,003	883	211,894	1,513
Commercial non-real estate	$	27,150	170	24,201	192
Commercial real estate		322,747	1,863	327,994	2,940
Small business		20,108	129	20,165	266
Consumer		27,343	111	27,148	222
Residential		84,443	32	86,133	60
Total	$	481,791	2,305	485,641	3,680

Impaired loans without specific valuation allowances represent loans that were written-down to the fair value of the collateral less cost to sell, loans in which the collateral value less cost to sell was greater than the carrying value of the loan, loans in which the present value of the cash flows discounted at the loans’ effective interest rate were equal to or greater than the carrying value of the loans, or large groups of smaller-balance homogeneous loans that were collectively measured for impairment.

The Company monitors impaired collateral dependent loans and performs an impairment analysis on these loans quarterly. Generally, a full appraisal is obtained when a real estate loan is initially evaluated for impairment and an updated full appraisal is obtained within one year from the prior appraisal date, or earlier if management deems it appropriate based on significant changes in market conditions.In instances where a property is in the process of foreclosure, an updated appraisal may be postponed beyond one year, as an appraisal is required on the date of foreclosure; however, such loans are subject to quarterly impairment analyses.Included in total impaired loans as of June 30, 2012 was $162.4 million of collateral dependent loans, of which $71.1 million were measured for impairment using current appraisals and $91.3 million were measured by adjusting appraisals greater than six months old, as appropriate, to reflect changes in market conditions subsequent to the last appraisal date.Appraised values with respect to 7 loans which did not have current appraisals were adjusted down by an aggregate amount of $2.5 million based on changes in market conditions since the appraisal date.

The Company had commitments to lend $0.2 million of additional funds on impaired loans as of June 30, 2012.

Credit Quality Information

Management monitors delinquency trends, net charge-off levels of classified loans, impaired loans and general economic conditions nationwide and in Florida in an effort to assess loan credit quality. The Company uses a risk grading matrix to monitor credit quality for commercial and small business loans.Risk grades are assigned to each commercial and small business loan upon origination. The loan officers monitor the risk grades and these risk grades are reviewed periodically by a third party consultant.The Company assigns risk grades on a scale of 1 to 13.A general description of the risk grades is as follows:

Grades 1 to 7 – The loans in these risk grades are generally well protected by the current net worth and paying capacity of the borrower or guarantors or by the fair value, less cost to sell, of the underlying collateral.

Grades 8 to 9 – Not used.

Grade 10 – These loans are considered to have potential weaknesses that deserve management’s close attention. While these loans do not expose the Company to immediate risk of loss, if left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan.

Grade 11 – These loans are considered to be inadequately protected by the current sound net worth and paying capacity of the borrower or guarantors or by the collateral pledged, if any.Loans in this grade have well-defined weaknesses that jeopardize the liquidation of the loan and there is a distinct possibility that the Company may sustain some credit loss if the weaknesses are not corrected.

Grade 12 – These loans are considered to have all the weaknesses of a Grade 11 with the added characteristic that the weaknesses make collection of the Company’s investment in the loan highly questionable and improbable on the basis of currently known facts, conditions and fair values of the collateral.

Grade 13 – These loans, or portions thereof, are considered uncollectible and of such little value that continuance on the Company’s books as an asset is not warranted. Such loans are generally charged down or completely charged off.

The following table presents risk grades for commercial and small business loans including loans held for sale as of June 30, 2012 (in thousands):

		Commercial			Owner Occupied	Other	Small	Small
		Non	Commercial	Commercial	Commercial	Commercial	Business	Business
		Real Estate	Residential	Land	Real Estate	Real Estate	Real Estate	Non-Real Estate
Grade:
Grades 1 to 7	$	188	-	-	5,285	25,945	-	695
Grade 10		2,068	1,538	-	-	21,220	2,213	4,180
Grade 11		25,911	63,380	12,888	4,097	130,069	17,899	6,880
Total	$	28,167	64,918	12,888	9,382	177,234	20,112	11,755

The following table presents risk grades for commercial and small business loans including loans held for sale as ofDecember 31, 2011 (in thousands):

		Commercial			Owner Occupied	Other	Small	Small
		Non	Commercial	Commercial	Commercial	Commercial	Business	Business
		Real Estate	Residential	Land	Real Estate	Real Estate	Real Estate	Non-Real Estate
Risk Grade:
Grades 1 to 7	$	71,798	16,085	18,752	82,251	250,238	157,237	85,942
Grade 10		6,021	1,375	-	-	50,208	2,837	4,306
Grade 11		40,326	91,307	14,838	5,890	184,261	24,845	9,477
Total	$	118,145	108,767	33,590	88,141	484,707	184,919	99,725

The Company monitors the credit quality of residential loans based on loan-to-value ratios of the underlying collateral.Elevated loan-to-value ratios indicate the likelihood of increased credit losses upon default which results in higher loan portfolio credit risk.

The loan-to-value ratios of the Company’s residential loans were as follows (in thousands):

		As of June 30, 2012 (1)		As of December 31, 2011 (1)
		Residential	Residential	Residential	Residential
Loan-to-value ratios		Interest Only	Amortizing	Interest Only	Amortizing
Ratios not available (2)	$	4,764	19,081	124,868	304,372
=<60%		413	3,532	20,314	68,817
60.1% - 70%		548	1,148	10,316	30,033
70.1% - 80%		254	1,791	24,784	32,271
80.1% - 90%		988	2,000	27,622	27,523
>90.1%		16,496	14,388	174,515	108,224
Total	$	23,463	41,940	382,419	571,240

(1) Current loan-to-value ratios (“LTV”) for the majority of the portfolio were obtained as of the second quarter of 2011 based on automated valuation models.

(2)Ratios not available consisted of properties not found in the automated valuation database, and $10.0 million and $78.8 million as of June 30, 2012 and December 31, 2011, respectively, of loans originated under the community reinvestment act program that are not monitored based on loan-to-value.

The Company monitors the credit quality of its portfolio of consumer loans secured by real estate utilizing loan-to-value ratios at origination. The Company’s experience indicates that default rates are significantly lower with loans that have lower loan-to-value ratios at origination.

The loan-to-value ratios at loan origination of the Company’s consumer loans secured by real estate were as follows (in thousands):

		Consumer Home Equity
		June 30,	December 31,
Loan-to-value ratios		2012	2011
<70%	$	16,931	334,050
70.1% - 80%		2,001	97,516
80.1% - 90%		1,026	62,674
90.1% -100%		-	40,327
>100%		-	11,341
Total	$	19,958	545,908

The Company monitors the credit quality of its consumer non-real estate loans based on loan delinquencies.

The restructuring of a loan is considered a “troubled debt restructuring” if both (i) the borrower is experiencing financial difficulties and (ii) the creditor has granted a concession. Concessions may include interest rate reductions or below market interest rates, principal forgiveness, restructuring amortization schedules, extending loan maturities, deferring loan payments until the loan maturity date and other actions intended to minimize potential losses. The majority of concessions for consumer loans involved changing monthly payments from interest and principal payments to interest only payments or deferring several monthly loan payments until the loan maturity date.Commercial real estate and non-real estate loan concessions were primarily below market interest rates based on the risk profile of the loan and extensions of maturity dates.Residential and small business loan concessions primarily involved reductions of monthly payments through extensions of the amortization period and/or deferral of monthly payments.

There was no financial statement effect of consumer and residential troubled debt restructured loans as the affected loans were generally on non-accrual status and measured for impairment before the restructuring. The financial statement effects of commercial and small business troubled debt restructured loans was the establishment of specific valuation allowances, if any, in place of the general allowance for those loans that had not already been placed on nonaccrual status. There was an impact to the allowance for loan losses as a result of the concessions made, as the concessions generally result from the expectation of slower future cash flows.

Troubled debt restructurings during the three months ended June 30, 2012 and 2011 were as follows (dollars in thousands):

	For the Three Months Ended
	June 30, 2012			June 30, 2011
			Recorded			Recorded
	Number		Investment	Number		Investment
Troubled Debt Restructurings
Commercial non-real estate	-	$	-	3	$	2,211
Commercial real estate:
Residential	-		-	6		20,743
Land	-		-	-		-
Owner occupied	-		-	1		692
Other	-		-	4		39,880
Small business:
Real estate	-		-	-		-
Non-real estate	-		-	-		-
Consumer	1		47	3		410
Residential:
Residential-interest only	-		-	-		-
Residential-amortizing	-		-	4		294
Total Troubled Debt Restructured	1	$	47	21	$	64,230

Troubled debt restructurings during the six months ended June 30, 2012 and 2011 were as follows (dollars in thousands):

	For the Six Months Ended
	June 30, 2012			June 30, 2011
			Recorded			Recorded
	Number		Investment	Number		Investment
Troubled Debt Restructurings
Commercial non-real estate	-	$	-	3	$	2211
Commercial real estate:
Residential	-		-	6		20,743
Land	-		-	-		-
Owner occupied	-		-	1		692
Other	-		-	7		50,998
Small business:
Real estate	2		342	-		-
Non-real estate	-		-	-		-
Consumer	1		47	4		460
Residential:
Residential-interest only	-		-	1		547
Residential-amortizing	1		62	12		1,695
Total Troubled Debt Restructured	4	$	451	34	$	77,346

The following table represents the recorded investment of loans that were modified in troubled debt restructurings beginning January 1, 2011 and 2010 and experienced a payment default during the three months ended June 30, 2012 and 2011 (dollars in thousands):

	For the Three Months Ended
	June 30, 2012			June 30, 2011
			Recorded			Recorded
	Number		Investment	Number		Investment
Troubled Debt Restructurings which
have subsequently defaulted:
Commercial non-real estate	-	$	-	-	$	-
Commercial real estate:
Residential	-		-	2		6,869
Land	-		-	-		-
Owner occupied	-		-	2		613
Other	-		-	1		6,102
Small business:
Real estate	-		-	1		156
Non-real estate	-		-	-		-
Consumer	-		-	8		757
Residential:
Residential-interest only	-		-	1		547
Residential-amortizing	2		177	5		1,071
Total Troubled Debt Restructured	2	$	177	20	$	16,115

The following table represents the recorded investment of loans that were modified in troubled debt restructurings beginning January 1, 2011 and 2010 and experienced a payment default during the six months ended June 30, 2012 and 2011 (dollars in thousands):

	For the Six Months Ended
	June 30, 2012			June 30, 2011
			Recorded			Recorded
	Number		Investment	Number		Investment
Troubled Debt Restructurings which
have subsequently defaulted:
Commercial non-real estate	-	$	-	-	$	-
Commercial real estate:
Residential	-		-	2		6,869
Land	-		-	1		3,458
Owner occupied	-		-	3		1,473
Other	-		-	1		6,102
Small business:
Real estate	-		-	1		156
Non-real estate	-		-	-		-
Consumer	-		-	9		777
Residential:
Residential-interest only	-		-	1		547
Residential-amortizing	2		177	5		1,071
Total Troubled Debt Restructured	2	$	177	23	$	20,453

XML

Share-Based Compensation And Common Stock

6 Months Ended

Jun. 30, 2012

Share-Based Compensation And Common Stock [Abstract]

Share-Based Compensation And Common Stock

7.Share-based Compensation and Common Stock

Share-based Compensation

In February 2010, the Board of Directors granted to employees awards of 320,000 shares of restricted Class A Common Stock (“RSAs”) under the BankAtlantic Bancorp, Inc. 2005 Restricted Stock and Option Plan.The Board of Directors also granted 15,000 RSAs to employees of BFC Financial Corporation (“BFC”) that perform services for the Company.The RSAs vest pro-rata over four years and had a fair value of $6.20 per share at the grant date.

The following is a summary of the Company’s non-vested restricted Class A common share activity:

	Class A		Weighted
	Non-vested		Average
	Restricted		Grant date
	Stock		Fair Value
Outstanding at December 31, 2010	313,780	$	7.40
Vested	(86,730)		8.55
Forfeited	(7,250)		6.20
Granted	-		-
Outstanding at June 30, 2011	219,800	$	6.99
Outstanding at December 31, 2011	211,900	$	6.96
Vested	(70,500)		6.20
Forfeited	(4,000)		6.20
Granted	-		-
Outstanding at June 30, 2012	137,400	$	7.37

As of June 30, 2012, the total unrecognized compensation cost related to non-vested restricted stock compensation was approximately $0.8 million. The cost of these non-vested RSAs is expected to be recognized over a weighted-average period of approximately one year.The fair value of shares vested during the three and six months ended June 30, 2012 was $0 and $247,000, respectively, compared to $38,000 and $444,000 during the three and six months ended June 30, 2011, respectively.In accordance with the July 2012 approval of the Compensation Committee of the Board of Directors of the Company, the vesting of 72,400 shares of non-vested RSAs was accelerated with respect to employees employed by BankAtlantic at the closing of the Transaction.As a consequence, the Company recognized $0.4 million of compensation expense upon the vesting of the RSA’s on July 31, 2012.

XML

Segment Reporting

6 Months Ended

Jun. 30, 2012

Segment Reporting [Abstract]

Segment Reporting

9.Segment Reporting

The information provided for Segment Reporting is based on internal reports utilized by management. Results of continuing operations are reported through two reportable segments: Commercial Lending reporting unit (“CLRU”) and the Parent Company. CLRU’s activities consist of managing a commercial loan portfolio which includes construction, residential development, land acquisition and commercial business loans. The activities during the three and six months ended June 30, 2012 and 2011 included renewing, modifying, increasing, extending, refinancing and making protective advances on commercial loans, as well as the servicing of commercial loans. The Parent Company activities include the managing of non-performing loans and related real estate owned acquired from BankAtlantic.

The accounting policies of the segments are generally the same as those described in the summary of significant accounting policies in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011. Intersegment transactions are eliminated in consolidation.

The Company evaluates segment performance based on segment net income from continuing operations.

The Company evaluates segment performance based on segment net income from continuing operations after tax.The table below is segment information for segment net income from continuing operations for the three and six months ended June 30, 2012 and 2011 (in thousands):

				Adjusting and
			Parent	Elimination	Segment
For the Three Months Ended:		CLRU	Company	Entries	Total
June 30, 2012:
Interest income	$	7,242	45	-	7,287
Interest expense		-	(4,126)	-	(4,126)
Recovery of loan losses		625	2	-	627
Non-interest income		-	406	(275)	131
Non-interest expense		(9,555)	(2,999)	275	(12,279)
Segments loss
before income taxes		(1,688)	(6,672)	-	(8,360)
Provision for income tax		-	-	-	-
Net loss	$	(1,688)	(6,672)	-	(8,360)
Total assets	$	653,838	307,520	2,870,572	3,831,930
				Adjusting and
			Parent	Elimination	Segment
For the Three Months Ended:		CLRU	Company	Entries	Total
June 30, 2011:
Interest income	$	11,109	60	(2)	11,167
Interest expense		-	(3,856)	2	(3,854)
Provision for loan losses		(3,799)	(514)	-	(4,313)
Non-interest income		12	(751)	(313)	(1,052)
Non-interest expense		(17,460)	(2,507)	313	(19,654)
Segments loss
before income taxes		(10,138)	(7,568)	-	(17,706)
Provision for income tax		-	-	-	-
Net loss	$	(10,138)	(7,568)	-	(17,706)
Total assets	$	745,175	356,709	2,761,980	3,863,864

				Adjusting and
			Parent	Elimination	Segment
For the Six Months Ended:		CLRU	Company	Entries	Total
June 30, 2012:
Interest income	$	15,401	221	-	15,622
Interest expense		-	(8,293)	-	(8,293)
Recovery of loan losses		1,386	6	-	1,392
Non-interest income		70	865	(597)	338
Non-interest expense		(22,487)	(8,700)	597	(30,590)
Segments loss
before income taxes		(5,630)	(15,901)	-	(21,531)
Provision for income tax		-	-	-	-
Net loss	$	(5,630)	(15,901)	-	(21,531)
				Adjusting and
			Parent	Elimination	Segment
For the Six Months Ended:		CLRU	Company	Entries	Total
June 30, 2011:
Interest income	$	22,862	143	-	23,005
Interest expense		-	(7,638)	-	(7,638)
Provision for loan losses		(10,646)	(494)	-	(11,140)
Non-interest income		13	(161)	(609)	(757)
Non-interest expense		(30,046)	(5,939)	609	(35,376)
Segments loss
before income taxes		(17,817)	(14,089)	-	(31,906)
Provision for income tax		-	-	-	-
Net loss	$	(17,817)	(14,089)	-	(31,906)

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Fair Value Measurement (Schedule Of Quantitative Fair Value Measurements) (Details) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012		Jun. 30, 2011
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value	$ 36,685		$ 328,752
Impaired Real Estate Owned [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value	27,288		36,044
Valuation technique	Fair Value of Property
Impaired Loans Held For Sale [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value	9,397		27,463
Valuation technique	Fair Value of Collateral
Minimum [Member] | Impaired Real Estate Owned [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value	400	[1]
Minimum [Member] | Impaired Loans Held For Sale [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value	900	[1]
Maximum [Member] | Impaired Real Estate Owned [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value	6,500	[1]
Maximum [Member] | Impaired Loans Held For Sale [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value	3,600	[1]
Weighted Average [Member] | Impaired Real Estate Owned [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value	3,000	[1]
Weighted Average [Member] | Impaired Loans Held For Sale [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value	$ 1,900	[1]

[1] Range and average appraised values were reduced by costs to sell.

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Related Parties (Narrative) (Details) (USD $)	3 Months Ended			6 Months Ended			1 Months Ended		12 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011	Feb. 28, 2010 Restricted Class A Common Stock Awards [Member]	Feb. 28, 2010 Restricted Class A Common Stock Awards [Member] BFC Financial Corporation [Member]	Dec. 31, 2010 Restricted Class A Common Stock Awards [Member] BFC Financial Corporation [Member]
Related Party Transaction [Line Items]
Compensation, paid per month for advisory fees			$ 12,500
Percentage of fee, based on net recoveries			1.00%
Advisory fees pad for recoveries on loans	100,000	200,000		200,000	300,000
Shares granted to employees							320,000	15,000	15,000
Vesting period for Class A shares							4 years		4 years
Options and restricted stock expenses	8,000	16,000		17,000	32,000
Related party deposits held	$ 1,600,000			$ 1,600,000		$ 200,000

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Securities Available For Sale (Tables)

6 Months Ended

Jun. 30, 2012

Securities Available For Sale [Abstract]

Securities Available For Sale

		As of December 31, 2011
			Gross	Gross
		Amortized	Unrealized	Unrealized	Estimated
		Cost	Gains	Losses	Fair Value
Government agency securities:
Mortgage-backed securities	$	12,533	885	-	13,418
Real estate mortgage investment conduits		30,561	1,129	-	31,690
Total		43,094	2,014	-	45,108
Equity securities		1,260	67	-	1,327
Total	$	44,354	2,081	-	46,435

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Presentation Of Interim Financial Statements (Details) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Trust preferred securities	$ 285.4
Accrued interest on trust preferred securities	51.3
Legal fees and expenses	2.3
Preferred membership interest	5.00%
Basis spread on preferred interest return	200.00%
Period over which preference amount is paid	7 years
Deposit premium	315.9
Cash payment received related to sale of stock	6.4
Expected recognition of gain in connection with sale of stock	307
Time deposits with other banks	0.5	5.7
Florida Asset Resolution Group, LLC [Member]
Performing and non-performing loans, tax certificates and real estate owned, carrying value	358
Cash	37.0
BBX Capital Asset Management, LLC [Member]
Cash	81.0
Non-performing commercial loans, commercial real estate owned and previously written-off assets, carrying value	126
Cash payment received related to sale of stock	22.5
BB&T [Member]
Preferred membership interest	95.00%
Incremental payments of preference amount	$ 35

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Share-based Compensation and Common Stock (Narrative) (Details) (USD $)	3 Months Ended		6 Months Ended		1 Months Ended	6 Months Ended	1 Months Ended	12 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Feb. 28, 2010 Restricted Class A Common Stock Awards [Member]	Jun. 30, 2012 Restricted Class A Common Stock Awards [Member]	Feb. 28, 2010 Restricted Class A Common Stock Awards [Member] BFC Financial Corporation [Member]	Dec. 31, 2010 Restricted Class A Common Stock Awards [Member] BFC Financial Corporation [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted to employees					320,000		15,000	15,000
Award vesting period					4 years			4 years
Grant date fair value per share							$ 6.20
Total unrecognized compensation costs related to non-vested restricted stock	$ 800,000		$ 800,000
Weighted average period for recognition related to non-vested restricted stock			1 year
Fair value of awards vested during the period	0	38,000	247,000	444,000
Shares vested in period						72,400
Additional compensation expense						$ 400,000

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Loans Receivable (Age Analysis Of The Past Due Recorded Investment In Loans Receivable And Loans Held For Sale) (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Financing Receivable, Recorded Investment, Past Due [Line Items]
31-59 Days Past Due	$ 5,887	$ 16,741
60-89 Days Past Due	3,144	20,546
90 Days or More	172,207	228,801
Total Past Due	181,238	266,088
Current	228,738	2,367,603
Total Loans Receivable	409,976	2,633,691
Commerical Non-Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
31-59 Days Past Due	2,500
60-89 Days Past Due	1,093	2,248
90 Days or More	1,381	13,292
Total Past Due	4,974	15,540
Current	23,193	102,605
Total Loans Receivable	28,167	118,145
Commercial Real Estate Residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
90 Days or More	46,328	44,633
Total Past Due	46,328	44,633
Current	18,590	64,134
Total Loans Receivable	64,918	108,767
Commercial Real Estate Land [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
31-59 Days Past Due		681
90 Days or More	12,888	14,839
Total Past Due	12,888	15,520
Current		18,070
Total Loans Receivable	12,888	33,590
Commercial Real Estate Owner Occupied [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
31-59 Days Past Due		2,008
60-89 Days Past Due	138
90 Days or More	3,002	4,031
Total Past Due	3,140	6,039
Current	6,242	82,102
Total Loans Receivable	9,382	88,141
Commercial Real Estate Owner Other [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
60-89 Days Past Due		5,467
90 Days or More	42,149	47,841
Total Past Due	42,149	53,308
Current	135,085	431,399
Total Loans Receivable	177,234	484,707
Small Business Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
31-59 Days Past Due	893	2,089
60-89 Days Past Due		372
90 Days or More	4,127	9,449
Total Past Due	5,020	11,910
Current	15,092	173,009
Total Loans Receivable	20,112	184,919
Small Business Non-Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
31-59 Days Past Due	20
60-89 Days Past Due		462
90 Days or More		76
Total Past Due	20	538
Current	11,735	99,187
Total Loans Receivable	11,755	99,725
Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
31-59 Days Past Due	719	5,339
60-89 Days Past Due	1,134	3,996
90 Days or More	8,261	14,134
Total Past Due	10,114	23,469
Current	10,003	538,569
Total Loans Receivable	20,117	562,038
Residential-Interest Only [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
31-59 Days Past Due	397	2,656
60-89 Days Past Due		3,488
90 Days or More	21,779	32,317
Total Past Due	22,176	38,461
Current	1,286	343,958
Total Loans Receivable	23,462	382,419
Residential-Amortizing [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
31-59 Days Past Due	1,358	3,968
60-89 Days Past Due	779	4,513
90 Days or More	32,292	48,189
Total Past Due	34,429	56,670
Current	7,512	514,570
Total Loans Receivable	$ 41,941	$ 571,240

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Consolidated Statements Of Comprehensive (Loss) Income (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Consolidated Statements Of Comprehensive (Loss) Income [Abstract]
Net (loss) income	$ (12,307)	$ 23,401	$ (26,515)	$ 514
Other comprehensive (loss) income, net of tax:
Unrealized (loss) gain on securities available for sale	(60)	461	(584)	(258)
Provision for income taxes
Unrealized (loss) gain on securities available for sale, net of tax	(60)	461	(584)	(258)
Reclassification adjustments:
Net realized (loss) gain on securities available for sale
Reclassification adjustments
Other comprehensive (loss) income, net of tax	(60)	461	(584)	(258)
Comprehensive (loss) income	(12,367)	23,862	(27,099)	256
Less: comprehensive (loss) income attributable to noncontrolling interest		290		585
Total comprehensive (loss) income attributable to BBX Capital Corporation	$ (12,367)	$ 23,572	$ (27,099)	$ (329)

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Liquidity Considerations

6 Months Ended

Jun. 30, 2012

Liquidity Considerations [Abstract]

Liquidity Considerations

3.Liquidity Considerations

BBX had cash of $4.0 million and current liabilities of $5.8 million as of June 30, 2012.In connection with the consummation of the Transaction on July 31, 2012, BBX received net cash proceeds of approximately $29.0 million, consisting of a $6.4 million cash payment from BB&T and approximately $22.5 million of cash held in its wholly-owned subsidiary, CAM, net of transaction costs, trustee fees and costs associated with the TruPS related litigation and payments to BB&T of accrued and unpaid TruPS interest.BBX liquidity is primarily dependent upon the repayments of loans, sales of real estate, and obtaining funds from its 5% preferred interest in FAR.Based on the current and expected liquidity needs and sources, the Company expects to be able to meet its liquidity needs over the next 12 months.

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Assets And Liabilities Held For Sale (Narrative) (Details) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011
Number of reporting units	5
Total assets	$ 3,831,930	$ 3,678,119	$ 3,863,864
Florida Asset Resolution Group, LLC [Member]
Total assets	$ 120,000
Expected asset monetization period	7 years
Percent of cash flows from assets to be applied to repayment of preferred interest	95.00%

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Loans Receivable (Narrative) (Details) (USD $)	3 Months Ended	6 Months Ended
	Mar. 31, 2012	Jun. 30, 2012 loan	Dec. 31, 2011
Financing Receivable, Recorded Investment [Line Items]
Loans to be transferred to Company		$ 1,800,000,000
Loans held for sale		47,029,000	55,601,000
Commerical loan 90 days past due and still accruing		80,000
Loans charged off subsequent to change in valuation of collateral dependent loans	66,500,000
Collateral Dependent Loans		162,400,000
Collateral Dependent Loans Measured For Impairment Using Current Appraisals		71,100,000
Collateral Dependent Loans Measured For Impairment Using Previous Appraisals		91,300,000
Number of loans adjusted down due from changes in market conditions since last appraisal		7
Collateral Dependent Loans Measured For Impairment Using Previous Appraisals Adjustment		2,500,000
Commitment To Lend Additional Funds On Impaired Loans		200,000
Loans Originated Excluded From Valuation		10,000,000	78,800,000
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans held for sale		30,900,000	35,800,000
Residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans held for sale		$ 16,100,000	$ 19,800,000

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Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Measurement [Abstract]

Schedule Of Fair Value Measured On Recurring Basis

			Fair Value MeasurementsUsing
			Quoted prices in
			Active Markets	Significant Other	Significant
		As of	for Identical	Observable	Unobservable
		December 31,	Assets	Inputs	Inputs
Description		2011	(Level 1)	(Level 2)	(Level 3)
Mortgage-backed securities	$	13,418	-	13,418	-
REMICS		31,690	-	31,690	-
Equity securities		1,327	827	500	-
Total	$	46,435	827	45,608	-

Schedule Of Fair Value Assets Measured On Nonrecurring Basis

The following table presents major categories of assets measured at fair value on a non-recurring basis as of June 30, 2012 (in thousands):

			Fair Value Measurements Using
			Quoted prices in
			Active Markets	Significant	Significant	Total
			for Identical	Other Observable	Unobservable	Impairments (1)
		June 30,	Assets	Inputs	Inputs	For the Six
Description		2012	(Level 1)	(Level 2)	(Level 3)	Months Ended
Impairedreal estate owned	$	27,288	-	-	27,288	3,534
Impaired loans held for sale		9,397	-	-	9,397	459
Total	$	36,685	-	-	36,685	3,993

(1)Total impairments represent the amount recognized during the six months ended June 30, 2012 on assets that were held and measured at fair value as of June 30, 2012.

The following table presents major categories of assets measured at fair value on a non-recurring basis as of June 30, 2011 (in thousands):

			Fair Value Measurements Using
			Quoted prices in
			Active Markets	Significant	Significant	Total
			for Identical	Other Observable	Unobservable	Impairments (1)
		June 30,	Assets	Inputs	Inputs	For the Six
Description		2011	(Level 1)	(Level 2)	(Level 3)	Months Ended
Loans measured for
impairment using the fair value
of the underlying collateral	$	265,245	-	-	265,245	24,624
Impaired loans held for sale		27,463	-	-	27,463	6,335
Impairedreal estate owned		36,044	-	-	36,044	8,830
Total	$	328,752	-	-	328,752	39,789

(1)Total impairments represent the amount recognized during the six months ended June 30, 2011 on assets that were measured at fair value as of June 30, 2011.

Schedule Of Quantitative Fair Value Measurements

As of June 30, 2012		Fair	Valuation	Unobservable
Description		Value	Technique	Inputs	Range (Average) (1)
Impairedreal estate owned	$	27,288	Fair Value of Property	Appraisal	$0.4 -6.5 million (3.0 million)
Impaired loans held for sale		9,397	Fair Value of Collateral	Appraisal	$0.9 -3.6 million (1.9 million)
Total	$	36,685

(1)Range and average appraised values were reduced by costs to sell.

Schedule Of Financial Disclosures At Fair Value

				Fair Value Measurements Using
		Carrying		Quoted prices in
		Amount		Active Markets	Significant	Significant
		As of	As of	for Identical	Other Observable	Unobservable
(in thousands)		June 30,	June 30,	Assets	Inputs	Inputs
Description		2012	2012	(Level 1)	(Level 2)	(Level 3)
Financial assets:
Cash and interest bearing
deposits in other banks	$	1,193,958	1,193,958	1,193,958	-	-
Securities available for sale		26	26	26
Tax certificates		5,293	5,346	-	-	5,346
Loans receivable including loans
held for sale, net		402,823	405,300	-	-	405,300
Financial liabilities:
Junior subordinated debentures		345,092	307,625	-	307,625	-

Schedule Of Fair Value By Balance Sheet Grouping

		December 31, 2011
		Carrying	Fair
(in thousands)		Amount	Value
Financial assets:
Cash and interest bearing
deposits in other banks	$	770,292	770,292
Securities available for sale		46,435	46,435
Tax certificates		46,488	45,562
Federal home loan bank stock		18,308	18,308
Loans receivable including loans
held for sale, net		2,503,804	2,317,144
Financial liabilities:
Deposits		3,280,083	3,279,562
Subordinated debentures		22,000	21,989
Junior subordinated debentures		337,114	226,991