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Regulators approve sale of BankAtlantic's Tampa Bay branches to PNC

Regulators with the Office of Thrift Supervision have approved the sale of BankAtlantic Bancorp's Tampa operations to PNC Bank, a deal now expected to close the first week of June.

The selloff, as announced in February, includes 19 bay area branches with roughly $350 million in deposits, plus two related facilities in the region. Hit with heavy real estate losses, Fort Lauderdale-based BankAtlantic is pulling out of Tampa Bay to focus on its core South Florida franchise.

Pittsburgh-based PNC currently has about 100 branches in Florida, most along the East Coast corridor. Customers of the affected branches will be contacted by PNC before the transfer, BankAtlantic said.

Regulators approve sale of BankAtlantic's Tampa Bay branches to PNC 04/18/11 [Last modified: Monday, April 18, 2011 7:28pm]
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