TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

PNC to buy Florida banks

Daily Photo Galleries

By Pittsburgh The Tribune-Review
Monday, Jan. 31, 2011
 

PNC Bank has agreed to buy 19 bank branches and two related facilities in Tampa-St. Petersburg, Fla., from BankAtlantic, its parent company announced this morning.

BankAtlantic Bancorp Inc., based in Fort Lauderdale, Fla., said it has entered into a sales agreement with Pittsburgh-based PNC, part of The PNC Financial Services Group Inc.

PNC will acquire the branches and approximately $350 million in associated deposits, BankAtlantic said. No purchase price was released. The transaction is expected to close in June, pending regulatory approvals and other terms and conditions. BankAtlantic Bancorp's Form 8K is being filed today with the Securities and Exchange Commission.

BankAtlantic announced plans in August to focus its efforts in South Florida and was seeking buyers for its Tampa operations, the company said.

 

 
 


Show commenting policy

Most-Read Stories

  1. Moore hopes to see red (zone) in Steelers debut
  2. Steelers notebook: Ravens DL fined for hit on Roethlisberger
  3. Martin’s homer rescues Pirates in 4-2 victory over Brewers
  4. Penn Hills runs past Mt. Lebanon defense
  5. Harhai campaign emails from 2007 under review, Westmoreland County DA says
  6. Family becomes ‘forever’
  7. Monument to Steel Valley Korean War hero relocated
  8. Police, bloodhound team locate former athletic director, Greensburg official
  9. Inside the glass: Johnston’s opening practice grueling
  10. Sears to close store at Century III Mall in West Mifflin
  11. Armed officers comb woods for state trooper ambush suspect
Subscribe today! Click here for our subscription offers.