The Real Deal Miami

Losses widen at BankAtlantic

February 11, 2009 10:05AM

Fort Lauderdale-based BankAtlantic Bancorp, hammered by real estate loan problems and special charges, reported a quarterly loss of $13.94 a share, a huge expansion from its loss of 89 cents a share a year ago. Real estate loan woes slammed the bank, one of the largest financial institutions headquartered in Florida, which posted a full-year loss of $18.30 a share. It lost $22.2 million in 2007. BankAtlantic has applied for a government capital injection under TARP, the Troubled Asset Relief Program.