SOURCE: BBX Capital Corporation

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March 17, 2014 16:15 ET

BBX Capital Corporation Reports Financial Results for the Fourth Quarter and Full Year, 2013

FORT LAUDERDALE, FL--(Marketwired - March 17, 2014) - BBX Capital Corporation ("BBX Capital," "BBX," and/or the "Company") (NYSE: BBX), formerly BankAtlantic Bancorp, Inc., reported financial results for the fourth quarter and full year ending December 31, 2013.

Full Year 2013
BBX reported net income of $47.8 million, or $2.94 per diluted share, for the year ended December 31, 2013, versus net income of $235.8 million, or $15.00 per diluted share, for the year ended December 31, 2012. Results for 2012 include a $264.2 million gain from discontinued operations related to the sale of BankAtlantic. 

Fourth Quarter 2013
BBX reported net income of $49.1 million, or $2.94 per diluted share, for the quarter ended December 31, 2013, versus a net loss of ($14.8) million, or ($0.94) per diluted share, for the quarter ended December 31, 2012.

As of December 31, 2013, BBX Capital had consolidated total assets of $431.1 million, and shareholders' equity of $302.4 million. 

BBX Capital's book value per share was $19.00 at December 31, 2013, versus $15.24 at December 31, 2012.

More complete and detailed information relating to BBX Capital and its financial results is available in the Company's Annual Report on Form 10-K for the year ended December 31, 2013, and is available to view on the SEC's website, www.sec.gov, or on BBX Capital's website, www.BBXCapital.com.

About BBX Capital Corporation:  
BBX Capital, a New York Stock Exchange listed company (NYSE: BBX), is involved in the acquisition, ownership and management of, and joint ventures and investments in real estate and real estate development projects as well as investments and management of middle market operating businesses. In addition, BBX Capital and its holding company, BFC Financial Corporation, have a 46% and 54% respective interest in Bluegreen Corporation; a vacation ownership company with more than 60 owned or managed resorts, 225,000 owners and 5,000 employees. For more information, visit www.BBXCapital.com 

For further information, please visit our family of companies:
BBX Capital: www.BBXCapital.com
BFC Financial Corp.: www.BFCFinancial.com
Bluegreen Corp.: www.Bluegreen.com
Renin Corp.: www.ReninCorp.com
Hoffman's Chocolates: www.Hoffmans.com, www.BocaBons.com, and www.GoodFortunes.com
Williams & Bennett: www.WilliamsandBennett.com

About BFC Financial Corporation : BFC Financial (OTCQB: BFCF) is a holding company whose principal holdings include controlling interests in BBX Capital Corporation (NYSE: BBX) and Bluegreen Corporation. As of December 31, 2013, BFC had total consolidated assets of approximately $1.4 billion. For more information, visit www.BFCFinancial.com

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