FORT LAUDERDALE, Fla. -- BankAtlantic said it signed an agreement to acquire Mega Bank of Miami for $20 million in cash.

Mega Bank has five offices and assets of $160 million. The $1.4 billion-asset BankAtlantic earned $16.1 million last year, and Mega Bank earned $1.8 million.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.