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Message to BankAtlantic Customers

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Dear BankAtlantic Customers,

Given the recent turbulence in the financial sector, we’d like to take this opportunity to reassure you about the safety and soundness of BankAtlantic and your current deposit relationship. During our 57 years doing business in the state of Florida, we’ve successfully navigated through a number of economic and real estate downturns. Each time, BankAtlantic emerged a leaner, stronger and more profitable company.

Be assured that the weakness in the financial markets in no way impacts the safety of your FDIC-insured deposits; all BankAtlantic deposit accounts are FDIC-insured up to the maximum amount allowed by law.

FOR ALL DEPOSIT ACCOUNTS UP TO $250,000:
On October 3, 2008, the FDIC temporarily increased insurance coverage from $100,000 to $250,000 per depositor through December 31, 2009. 

On May 20, 2009, the temporary increase in basic FDIC deposit insurance from $100,000 to $250,000 per depositor was extended through December 31, 2013. - Updated

FOR NON-INTEREST BEARING DEMAND ACCOUNTS OVER $250,000:
BankAtlantic is participating in the Transaction Account Guarantee Program. Under that program, through December 31, 2009, all non- interest bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. As of November 21, 2008, the FDIC expanded the definition of non- interest bearing transaction accounts to include NOW accounts with interest rates of 0.5 % or less and IOTAs (lawyer trust accounts). Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules.

Visit the FDIC website (www.fdic.gov/EDIE) or talk to a banking specialist at your neighborhood BankAtlantic to learn how to maximize FDIC coverage.

FOR CUSTOMERS WHOSE DEPOSITS EXCEED FDIC COVERAGE:
The CDARS® (Certificate of Deposit Account Registry Service) program is available at BankAtlantic, which offers customers access to multi-million dollar FDIC insurance on Certificate of Deposit balances – up to $50 million per customer – when they enter into the CDARS Deposit Placement Agreement.

As we commence our second half century in Florida banking, BankAtlantic remains financially sound, well capitalized, and dedicated to serving our individual and business customers as we together navigate through this economic cycle. We have confidence in the economic power and resiliency of the Florida economy, and anticipate its full recovery from this downturn, just as BankAtlantic and Florida have done historically. Now and through this recovery period, over 2000 BankAtlantic associates remain committed to providing seven-day convenience, unparalleled service, and a powerful mix of banking products and services to all Floridians.

We thank you for your business, your loyalty and your continued confidence in BankAtlantic.

 

Alan B. Levan

Chairman
BankAtlantic		Jarett S. Levan

President & CEO
BankAtlantic

 

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