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BankAtlantic Bancorp

November 2, 2011

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BB&T Corp., the ninth-largest U.S. bank by deposits, agreed to buy BankAtlantic Bancorp Inc.’s retail-lending unit, adding about $2.1 billion in loans and $3.3 billion in deposits. BB&T may pay as much as $301 million, or a 9 percent deposit premium, above the net asset value of BankAtlantic, the Winston-Salem, North Carolina-based bank said today in a statement. The deal excludes all of Fort Lauderdale, Florida- based BankAtlantic’s non-performing assets, according to the statement.

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