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BB&T Plans to Acquire Bank Atlantic for $301 Million

11/02/11

BB&T Plans To Acquire BankAtlantic For $301 Million


North Carolina bank BB&T has plans of purchasing the consumer banking unit of Fort Lauderdale, Florida–based BankAtlantic for about $301 million. Squire, Sanders & Dempsey will be the advisor to Winston-Salem–based BB&T. Corporate partner David Zagore is leading the firm's team in Cleveland, and chair James Baressi for global financial services in Cincinnati. BankAtlantic is being represented in the matter by Miami firm Stearns Weaver Miller Weissler Alhadeff & Sitterson. After the acquisition BB&T's presence will be expanded in Florida where it will add 78 bank branches.

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