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BankAtlantic Expanding Northward

FORT LAUDEDALE, FL-The diversified banking and real estate services operation is rushing into the fast-growing Treasure Coast region with the proposed $170 million acquisition of Community Savings Bankshares.

By David R. Corder | Updated on September 11, 2001

FORT LAUDERDALE, FL-In one fell swoop, BankAtlantic Bancorp Inc. just may have laid the keystone for long-term growth by announcing plans Monday to acquire Community Savings Bankshares Inc., a competing bank holding company.

The estimated value of the stock-swap deal is $170 million.

The Fort Lauderdale-based diversified banking and real estate services operation would quickly gain a firmer foothold in the fast-growing Treasure Coast counties of Indian River, St. Lucie, Martin and Palm Beach by offering shareholders in the North Palm Beach-based bank holding company $19 per common share.

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