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Message to BankAtlantic Customers


October 16, 2008
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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 56 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. If you have up to $250,000 in a deposit account at BankAtlantic, you will be fully insured if your account meets certain requirements.

FOR NON-INTEREST BEARING DEMAND ACCOUNTS OVER $250,000:
On October 14, 2008, the FDIC announced that it will be providing full coverage of non-interest bearing accounts – regardless of dollar amounts. This new, temporary guarantee expires December 31, 2009.

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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