FORT LAUDERDALE, Fla. -- BankAtlantic Bancorp., the $1.5 billion-asset newly-formed holding company for BankAtlantic, reported net income for the quarter ended June 30 of $4.5 million, compared to net income of $4.9 million for the comparable period in 1993.
Net income for the most recent quarter benefited from nonrecurring income when BankAtlantic settled a claim with the IRS relating to net operating loss carrybacks and previous federal income tax examinations through 1988. This resulted in an increase in other interest income of $587,000 and a reduction in the provision for income taxes of $1.45 million.
