bank atlantic

Center Financial Appoints Interim CFO

Center Financial Corporation (NASDAQ: CLFC - News) today named Douglas J. Goddard, 58, interim chief financial officer of the company and its wholly owned subsidiary, Center Bank, effective June 10, 2010. He will serve until the Bank completes its search for a permanent CFO.

Goddard joins Center Financial with more than 25 years of experience in financial reporting for the commercial banking sector. Most recently, he performed financial management consulting engagements for community banks. Projects involved the integration of financial functions of combining banks in an FDIC-assisted transaction, including the development of the required accounting for those loans acquired as part of the transaction, as well as the implementation of financial systems and reporting enhancements.

BankAtlantic Bancorp, Inc. (NYSE:BBX - News); (the “Company”) today announced that it has set a subscription price of $1.50 per share for its previously announced rights offering of up to $25 million of its Class A Common Stock. Upon commencement of the rights offering, the Company will distribute non-transferable subscription rights to purchase shares of its Class A Common Stock to each holder of its Class A Common Stock and Class B Common Stock as of the close of business on June 14, 2010, the record date for the rights offering.

The number of subscription rights to be distributed with respect to each outstanding share of the Company Class A Common Stock and Class B Common Stock will be determined based on the total number of outstanding shares as of the close of business on the record date.

BofI Holding, Inc. (NASDAQ:BOFI - News) ("BofI") announced that its wholly-owned subsidiary, Bank of Internet USA, has launched a Jumbo and Super Jumbo portfolio loan program in California designed for the affluent, sophisticated home mortgage borrower who will not settle for anything less than the highest level of service, flexibility and privacy that the industry has to offer.

Jerry Konzen, previously with Thornburg Mortgage, was recruited by Bank of Internet to spearhead this new program. When asked how BofI plans to compete in this market, Mr. Konzen replied, "We offer a concierge level of service to brokers, correspondents and their customers. We provide customers with highly customized portfolio financing solutions that exceed their expectations." Due to Mr. Konzen's experience with this caliber of clientele, he has implemented very strict internal privacy controls to protect the information received from brokers and correspondents.

BankAtlantic Bancorp said shares in its upcoming $25 million public offering would be priced at $1.50 each – close to their current trading value. The company could use some financial cushion again future problems after it lost $185.8 million in 2009 and $20.7 million in the first quarter. It raised $75 million from an offering in 2009. The Fort Lauderdale-based bank holding company (NYSE: BBX) will offer holders of its Class A and Class B common shares as of June 14 subscription rights to participate in the offering.

They could buy one new share for each existing share that they hold. The company will set the number of subscription rights based on the amount of outstanding shares as of that date. On Thursday, BankAtlantic Bancorp had 50.9 million Class A shares outstanding. It had 975,225 Class B shares outstanding on May 11.