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BBX Capital Corporation Message Board

  • morrisdavid93 morrisdavid93 Jan 26, 2012 12:46 PM Flag

    Trifecta that pays BIG !!

    " Comments from BBT : BBX will benefit BIG time with this sale. Note the comment of paying a $ 301M premium ( on the deposits ) PLUS an additional payment for the ASSET VALUE of the bank. This will be a double dose payment and BBX will continue to gain money on the so called critized loans which have been written off for the most part but yet will also generate revenue. Therefore you have 3 major revenue transactions getting ready to take place : # 1 $ 301M premium on the deposits ... # 2 Buying the ASSETS (branches) and # 3 Additional revenue from loans with BBX that have been for the most part written off..... This is quite a Trifecta soon coming !!!! see BBT's comments :

    In November 2011, BB&T announced its plan to acquire BankAtlantic, the wholly owned subsidiary of BankAtlantic Bancorp Inc. (NYSE:BBX - News). Under the terms of the deal, the company will acquire $2.1 billion in loans and roughly $3.3 billion in deposits (90% core and low-cost funds) for $301 million premium, representing 9.05% of the deposits at BankAtlantic on September 30, plus the net asset value of the bank. The agreement excludes BankAtlantic's nonperforming and other criticized assets.

    Upon the closure, the deal will be accretive to BB&T’s earnings per share in 2012 excluding one-time acquisition expenses. The transaction will allow the company to speed up its expansion strategy in Florida region, by adding 78 branches to BB&T’s 64 branch network in Florida region.

 
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