More Losses, No TARP $ for BankAtlantic
|Pretty sparse and mellow for a bank run... Oh! It's just a Panthers game at the BankAtlantic Center.|
The South Florida Business Journal has posted a detailed article about the bank's predicament. Apparently, the bank decided to take advantage of an opportunity to defer interest payments as a way of preserving capital but in so doing disqualified itself from receiving TARP funds. As for whether that was a sound strategy, I don't have a clue. Let's hope BankAtlantic executives do.