BankAtlantic Bancorp Inc. (BBX) announced that BankAtlantic, the Company's wholly-owned bank subsidiary, has received approvals from the Office of the Comptroller of the Currency or "OCC" necessary to consummate its previously announced Agreement with BB&T Corp. (BBT) to sell BankAtlantic.
The OCC approval is conditioned upon required notifications and the absence of any material changes.
BankAtlantic Bancorp must also receive approval from the Federal Reserve, which is pending. BB&T must receive approval from the Federal Reserve and FDIC, each of which is pending, but has previously received the necessary approval of the North Carolina Office of the Commissioner of Banks.
BankAtlantic Bancorp's Chairman and Chief Executive Officer, Alan B. Levan, commented, "We continue to anticipate that closing will occur in the second quarter of 2012, subject to the timely receipt of remaining required regulatory approvals and the satisfaction of other closing conditions."
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.